Real Number Essay

1. How do modules help you to reuse code in a program? It reduces the duplication of a code within a program by reusing the module that was written once. 2. Name and describe the two parts that a module definition has in most languages. The Header and a Body First the Header indicates a starting point Second the Body is a list of statements 3. When a module is executing, what happens when the end of the module is reached? Its executed and returned back to the point in the main program where it was sidetracked from 4. What is a local variable? What statements are able to access a local variable? A variable is declared inside a local module in which it is the only statement within a module 5. In most languages, where does a local variable’s scope begin and end? It begins at the variables declaration within a module and it ends at the end of the module in which the variable is declared. 6. What is the difference between passing an argument by value and passing it by reference? By the value only a copy of the arguments value is passed and by reference it is passed into a special modifications parameter. 7. Why do global variables make a program difficult to debug? It is because the global variables is used throughout all modules and plus they are hard to track. Algorithm Workbench 1. Design a module named timesTen. The module should accept an Integer argument. When the module is called, it should display the product of its argument multiplied times 10. Module Main () Call timesTen Module timesTen (Integer Value) Declare integerValue Set result = value*10 Display result End Module 5. Design a module named getNumber, which uses a reference parameter variable  to accept an Integer argument. The module should prompt the user to enter a number and then store the input in the reference parameter variable. Module getNumber (Integer Ref value) Display â€Å"Display a number† Input number End Module Module main () Declare Integer number x = 1 Declare Real number y = 3.4 Display (x, â€Å" † ,y) Call changeUS (x, y) Display (x, â€Å" † ,y) End module 6. What will the following pseudocode program display? Declare Integer x = 1 Declare Real y = 3.4 Display x, † â€Å", y Call changeUs( x, y) Display x, † â€Å", y End Module Module changeUs( Integer a, Real b) Set a = 0 Set b = 0 Display a, † â€Å", b End Module It will not display anything since there is nothing within the quotation marks 7. What will the following pseudocode program display? Module main() Declare Integer x = 1 Declare Real y = 3.4 Display x, † â€Å", y Call changeUs( x, y) Display x, † â€Å", y End Module Module changeUs( Integer Ref a, Real Ref b) Set a = 0 Set b = 0.0 Display a, † â€Å", b End Module As far as the module you would think that the displays would show something. But in both strings within the quotations marks both are blank to display. Programming Exercises 1. Kilometer Converter Design a modular program that asks the user to enter a distance in kilometers, and then converts that distance to miles. The conversion formula is as follows: Miles = Kilometers Ãâ€" 0.6214 Module main () Declare Real Kilometers Display â€Å"Enter a distance in kilometers† Input kilometers Call conversion (kilometers) End Module Module conversion (Realvalue) Declare Realmiles Set miles = value*0.6214 Display miles 2. Sales Tax Program Refactoring Programming Exercise 6 in Chapter 2 was the Sales Tax program. For that exercise you were asked to design a program that calculates and displays the county and state sales tax on a purchase. If you have already designed that program, refactor it so the subtasks are in modules. If you have not already designed that program, create a modular design for it. Module main () Declare Realpurchase Display â€Å"Enter the amount of purchase† Input purchase Call Module totalState (purchase) Call Module totalCounty(purchase) Declare Real totalTax Declare Real totalSale Set totalTax = totalState + totalCounty Set totalSale = purchase + totalTax Display â€Å"Your total state tax is†, totalState Display â€Å"Your total county tax is†, totalCounty Display â€Å"Your total tax is†, totalTax Display â€Å"Your total of your sale is†, totalSale End Module Module totalState (real Ref purchase) Set totalState sales tax = purchase*0.04 End Module Module totalCounty (real Ref purchase) Set totalCounty sales tax = purchase*0.02 End Module

Low cost strategy

As Jet Blue manages growth, the airline must also standardize many other things it does to avoid starting from scratch every time. For example, JetBlue has developed a checklist of what has to happen whenever it enters a new market. Everyone involved has access to the list on the corporate intranet. Each department sees what has been done, what remains to be done, deadlines, problems. Currently, the checklist makes launches that occur months apart more predictable. But before too long, it'll make simultaneous launches, unthinkable early on, manageable. JetBlue adopted a strategy for effective cost control by identifying and eliminating all unnecessary expenses and concentrating on providing high quality services to its passengers. Towards this end, it adopted a number of innovative measures on the planes such as: not serving food, point-to-point flights, and quick turnarounds. It also made effective use of advertising to position itself as a fun airline. JetBlue's innovative operational model helped it succeed at a time when the major players of the airline industry were crumbling. These activities and efforts are noteworthy and also improve efficiency, which will be critical in the years ahead as JetBlue tries to offset rising costs for aging planes and more-senior employees. And low costs remain an obsession. JetBlue's reservation agents, for example, work from home rather than in an expensive call center. At the same time, Neeleman is looking to widen profit margins again. A new 100-seat regional jet fleet being added next year will tap relatively uncontested — and so more profitable — markets. One of the latest tools designed to help JetBlue as it grows is an â€Å"operational recovery system.† During any disruption — weather that grounds some flights, for example — it allows planners to select various goals before rerouting planes. No canceled flights or delays beyond three hours? The software produces a solution and calculates its cost. It factors in each plane's maintenance and fuel needs, and the flight crew's experience and availability within FAA rules. With the current fleet of 57 planes, the program is a perk. Down the road, with 100 or more planes, it will be indispensable. (for more details, see the http://www.fastcompany.com/magazine official site)

Animals Essay Example | Topics and Well Written Essays - 1000 words

Animals - Essay Example Mostly compared in the debate on the best pet are cats, dogs, reptiles (turtle, tortoise, and fish). The other point worth noting is that each kind of pet has its own advantages and disadvantages and it depends on what its owner expects of it. In addition, the nature and behavior of a pet also determines whether it is the best or the most appropriate (Radford 24). For an illustration, a dog may be quite laid back by nature while one may acquire and keep a cat which has uncharacteristically high energy. Similarly, if one wants a pet to take a stroll, play, and go places with, then a dog would come highly recommended. On the other hand, cats are easier to care for and are thus recommended for pet owners interested in a more relaxed atmosphere while dogs are for fun and outdoor people. The comparison is however not always about dogs and cats; sometimes dogs and cats are compared with other kinds of pets such as reptiles and fish. In these comparisons, a good pet is defined on the basis of characteristics such as temperament and the ease of care and upkeep (Radford 43). Many pet lovers also concur that the best pet is not only gentle but also good natured and easy to take care of. This paper compares dogs and cats on one side and fish and reptiles on the other. Cats and Dogs versus Fish and Reptiles There are several advantages that dogs and cats have over reptiles, which make them better pets over the latter. Among the positive aspects of cats and dogs are loyalty, easy to manage, simple feeding/diet, easy to find feed, they are playful, and are fun to be with. However, there are several bad aspects of keeping cats and dogs as pets. For instance, they need medications/shots for diseases such as rabies, mange, cough, worms, and they must be licensed. In addition, dogs and cats need to be neutered and are costly. The main advantage of fish and reptiles such as lizards, tortoise, turtles, snakes, and fish is that they are kept in cages hence easy to keep and manage. Moreover kid, especially boys love reptiles. Since they are mostly in cages, they require little attention from their owners once they are fed and have few problems of running away from home. Nonetheless, there are several problems that make reptile pets a bit difficult to keep. That is, they may cause salmonella-related infections, more so to kids, who should always be kept away from such pets. The second problem with reptiles is that they require specialized diets and costly tanks and cages for fish, snakes, lizards, and turtles. These cages must also be cleaned as regularly as possible since reptiles, more so fish are rather delicate. The other pets often compared with cats, dogs, and reptiles are bunnies, which happen to be fun to play with for a lot of people. In addition, bunnies are easy to feed, smart, social, and play a lot, thus entertaining and easy to bond with. A rather boring aspect of keeping bunnies is that one cannot walk and play games such as â€Å"catch† o r swim with them. Further bunnies do not like being held a lot and are rather frail. From the mentioned advantages and disadvantages of cats, dogs, reptiles, and bunnies, it is clear that each pet has its own good and bad sides. As mentioned earlier, what determines the best pet is the owner’s personality, lifestyle, the nature of the pet, and the expected role of the said pet in the owner’s life. In fact, some people have compared pets to children. For example, for someone always working, with little or no time to take care of a pet, a cat would be highly recommended instead of a dog since cats are mostly indoors. This scenario presented by a cat is quite unlike the case of a dog,

The Call of Nature Essay Example | Topics and Well Written Essays - 2000 words

The Call of Nature - Essay Example If such an alarming natural resources depletion continues, other forms of life on planet earth, which are equally important, will definitely be on their way to extinction. Preserving the natural environment, which sustainably aids the flourishing of other forms of life on planet earth, is something worth consideration. Gary Snyder’s central theme in his poetry work is on natural environment conservation. One such piece of Gary Snyder’s poetry work is "The Call of the Wild" poetry work. Gary Snyder’s poetry work has played a significant role in advocating for nature conservation. Gary Snyder is one of the Beat Generation Poets. To address nature conservation issues, Gary Snyder, bases his work on Native American culture and on Zen Buddhism cultures. His poetry work and especially "The Call of the Wild" openly depicts his negative perceptions on human activities that directly of indirectly cause nature depletion. Of major concern are intentional and destructive hum an beings activities and factors such as human settlement. Born on 8 May 1930 in San Francisco, Gary Snyder â€Å"†¦was raised in a poor family on a farm  just north of Seattle during the Depression. †¦He worked summers as a U.S. ... According to Snyder, the Native American Indian cultures offer a nature friendly pleasant-sounding relationship. During his school days in Portland and while in Seattle, Snyder, had an interest in Indian Cultures and supplemented his studies by learning about Indian pioneers’ adventures and teachings. In 1951, Snyder, earned a literature and anthropology B.A. from Reed colleges. Afterwards, he joined Indiana University and later joining University of California. â€Å"In 1951 Snyder hitchhiked east to attend graduate school at Indiana University but dropped out after one semester, heading west again to enroll in Japanese and Chinese courses at the University of California at Berkeley in order to prepare himself for a trip to Japan to study Zen (McGuirk 1).† In Japan, he studied Zen lay monk under the supervision of his favorite instructor known by the name Oda Sesso Roshi. Snyder has done physical labor as a lumberjack, firewatcher, as well as trial maker. His ease of w riting is arguably attributed to his ability to balance between his intellectual capabilities and physical capabilities. Snyder’s poem "The Call of the Wild â€Å"addresses the relationship that exists between human beings versus wilderness and nature in the world we live in. "The Call of the Wild" stand out as one the best written work addressing environmental issues. Using poem technique, Snyder is able to satisfactory address the delicate and difficult issues regarding human beings place in the environment that sustains other forms of existences as well. Snyder in his work describes the differences that exist between human beings and other form of life – animals, birds, and trees. The difference is attributed to the modern human way of life. Of consideration, Snyder refers to the

Term paper Essay Example | Topics and Well Written Essays - 1750 words - 4

Term paper - Essay Example Currently, technology has developed to invent mobile phones which can access any information with convenience. As a result of easy access to information, there has been significant change in how people view information. The use of internet has not only made life more convenient but also changed the entire world. The network has become a major platform of mainstream media unlike previously when the media was just newspapers, televisions, and radio. The network has facilitated saving of resources besides availing more information in less time. Today, more and more people are able connect to people from across the world through social networks. Numerous social platforms have emerged with Facebook being the most famous. Facebook has evolved since its creation in 2004 by Zuckerburg, to become party of people’s daily lives. People access the application through laptops, computers, iPad, and smartphones. Through this application an individual can publish their real names, images, emails, relationship status, as well as birthdays. Various people have understand privacy in varying perspectives, particularly the youth. Most young people have an immature and incomplete understanding of the world. Currently, the main challenge that needs to be addressed is whether the online article about Facebook has an impact on college students’ understanding on personal confidentiality problem. Facebook offers a great platform that allows individuals to interact with more people online as well as know themselves better. However, sometimes too much personal details are exposed to the public. This excessive exposure results to too many negative consequences. Although the laws stipulates the right to freedom of expression, instances of cyber bullying, phishing, as well as, malicious slanders have increased at an alarming rate in people’s daily lives. These consequences will normally emerge since the application user’s privacy is not adequately

Victimless Crimes Essay Example | Topics and Well Written Essays - 2750 words

Victimless Crimes - Essay Example A good example of this train of thought is taken from a Speech at Cornell Law School One needs to completely rid oneself of the voracity for cash to see that prostitution, although legalized, can never be a legitimate business because it will always be associated with crime, corruption, class, mass sexual exploitation and human trafficking." Most commonly the list of activities and conduct proscribed by most repressive legal structures include, prostitution, obscenity, nudity, and incest, erotica (pornography), and sodomy (consensual oral or anal sexual activity). The philosophical basis of this dichotomy of views is profound. To the libertarian side the individual and his or her rights are paramount. Its absolutist position is presented right clearly in the National Platform of the Libertarian Party (adopted at its July 2002 convention in Indianapolis, Indiana) "http://www.lp.org/issues/platform/victcrim.html", which includes, in regards to consensual sexual activity, the language: Victimless Crimes - Because only actions that infringe on the rights of others can properly be termed crimes, we favor the repeal of all federal, state, and local laws creating 'crimes' without victims. In particular, we advocate: the repeal of all laws regarding consensual sexual relations, including prostitution and solicitation, and the cessation of state oppression and harassment of homosexual men and women, that they, at last, be accorded their full rights as individuals; the repeal of all laws regulating or prohibiting the possession, use, sale, production, or distribution of sexually explicit material, independent of "socially redeeming value" or compliance with "community standards Prohibition Curiously enough the prohibitionist side can count under its banner two groups that we might ordinarily considered to be at odds, upholders of traditional religious morality and insurgent feminist ideologues. It is within the categorical dichotomy between these two viewpoints that we must examine to discover a reasonable reply to the primary question given. In our society the traditionalist view posits the society as paramount, the entity calling for the most dignity, respect and consideration. In this way the argument goes a loosening of sexual restrictions will lead to the destruction of traditional marriage and the unleashing upon society of hordes of unattached males who, as everyone knows, are only interested in "one thing". It is particularly in regards to the question of prostitution that this idea is most prominent. The reasoning goes like this: why would a man stay with support and protect a single woman, with all the disadvantages that such behavior entails when he could be free to follow his instincts and enjoy himself without consequence. This viewpoint goes further to claim that the family structure is the primary bulwark of society itself, and therefore prostitution should be prohibited. The feminist take on this approach is a question from and

Summary chp.25-emergence of the us-american history Term Paper

Summary chp.25-emergence of the us-american history - Term Paper Example But he could not keep up with this policy and soon sent a special envoy, Sumner Welles, to encourage Machado, the oppressive president of Cuba, to resign in 1933. Machado was replaced by Ramon Grau and later by Colonel Fulgencio Batista. His regime was immediately accepted by America leading to favorable trade agreement. In 1939 Mexico nationalize all foreign owned oil companies. This infuriated the American oil interest and demanded them back asking Roosevelt to use military force if necessary. In 1941 the issue was solved when Mexico and America agreed on a fixed amount of compensation. While the relations with Latin America remained agreeable, the same was not true for Asia. In September 1931, the Japanese army stationed in Manchuria seized control of it. Following Japan’s success, America invoked the Stimson Doctrine. The idea of Greater East Asian Co-Prosperity sphere was also generated by Japan. A similar idea was also circulating in Europe, Germany, and Italy. Adolf Hitler came to power in 1933 based on the promise to improve the economy of Germany and to increase its role in the world. Benito Mussolini of Italy also expressed his wish to expand Italy. In response to the increased tension in the world, in August 1935 the congress passed the Neutrality act of 1935 which prohibited the sales of arms and munitions to any nation at war. On October 3, 1935, Italy invaded Ethiopia. Roosevelt announced America’s neutrality on the issue and denied the sale of war supplies to either side. However, the non-war trade continued between Italy and America. On May 9, 1936, Italy annexed Ethiopia. In March 1936, Germany occupied Rhineland and in July a civil war broke out in Spain. Roosevelt again proclaimed America’s neutrality on the issue. Congress passed the Second Neutrality Act forbidding loans to countries at war. Roosevelt easily defeated Landon

Business & Marketing Management Marketing Channel Essay

Business & Marketing Management Marketing Channel - Essay Example At the same time customers and other stakeholders will only have confidence in a company with sound financial and credit management. (Louis, et al, 2006) Louis et al (2006), states that, a channel member will only be effective if customers can easily obtain goods or service from him/her. Consequently, before selecting a channel member I will have to ensure that the channel member can easily be accessed by the prospective customers. The level of distribution and coverage of the channel member will have to be considered to know how effective it is. I will have to note the intensity at which the Wal-mart products can reach its customers; this is a very important aspect to ensure that sales are made. (Louis, et al, 2006) The type of the product will definitely dictate the kind of channel member to recruit. As pertaining the channel member for Wal-Mart supermarket chain, the member will have to be able to stock a large number of various products that the supermarket deals in. at the same time the channel member has to be able handle a large volume of products both perishable and durable. Like any other marketing decision, choosing a channel agent require a lot of thoughts and vast research in order to determine who can qualify the distribute the company's products more effectively and efficiently in a way that it will meet the company's sales objectives and overall revenue collection. (Louis, et al, 2006) A company has to consider some major factors before choosing its channel agents which are financial stability, product line and sales strength among others. (Louis, et al, 2006) Question 1b; discuss the concept of leadership The concept of leadership and it's relevance to motivating the channel members. Introduction Leadership is all about motivating people or a group towards achievement of the organizational goals. In this case, it is not just about motivating employees in the organization, but is about motivating channel members. It involves mutual influence between the company and its channel members. Channel members can be influenced through incentives, teamwork, individual dynamics and discipline. The main reason is to channel all the channel members' efforts towards the attainment of the organizations' goals. Leadership behavior in an organization include; directive, supportive, participate and achievement oriented. They are concerned with people feelings and making things pleasant for the followers and defining tasks requirements and other aspects of the work agenda. Kotler (1991) observers that type of leadership adopted will highly influence the relationship between the leader and the followers who are channel members. (Kotler, 1991) In case of channel members' leadership, every channel member is expected to have high degree of interdependence geared towards achievement of complexion of its business objective that it has set. Wal-Mart has stood apart from the channel member by virtue of its position held and helps channel members in clarification of issues, finding solutions, the company is clearly understands the issues and offers possible solutions. These are then formulated and address to relevant authorities for action to taken. This is characteristics of

Contract law Essay Example | Topics and Well Written Essays - 1250 words

Contract law - Essay Example The advertisement which Kelly has placed in the local newspaper is an offer that has been made to the world at large, such as for example in the case of Carlill v Carbolic Smoke Ball Co.3 A mere offer will only constitute a unilateral contract, which will also be deemed valid only if some party proffers an unconditional acceptance of the terms of the offer.4 John has seen the advertisement in the paper and has posted his acceptance to Kelly. However as McKendrick states, for a contract to be valid, â€Å"there must be a definite offer mirrored by a definite acceptance.†5 An acceptance will be said to occur when the offeree’s words or conduct can give rise to an objective reference that he/she has assented to the terms offered.6 On this basis, Kelly’s advertisement in the paper constitutes a definite offer and John’s reply constitutes an acceptance of the terms of the offer. In the case of Gibson v Manchester City Council, it was held that the acceptance of the offer must also be communicated before it can be valid on a contractual basis.7 According to Lord Denning no contract will come into existence unless and until the acceptance has been communicated to the offerer8. Therefore, if a contract is to exist between Kelly and John, then Kelly should have received John’s acceptance of her original offer, without any changes in its terms. John has indeed accepted the offer as per its original terms and since John’s acceptance of the offer has been sent by post then it will be held to be a valid acceptance as soon as he posted his letter.9 In fact, the courts have held that where a postal; acceptance is concerned, it will hold good even in those instances where the letter is delayed or lost in the post so that it never reaches the offerer.10 However, an offer cannot be accepted by the offeree unless and until the offer is communicated to him/her and silence cannot be

Financial Statement Analysis Essay Example | Topics and Well Written Essays - 1500 words

Financial Statement Analysis - Essay Example Please see Appendix A. The same behaviour may be observed in terms of operating margin and gross margins for the same years respectively. These are all relevant evidence of poor performance for the poor performance of Vodafone. It was only for the years 2004 and 2003 that the company had positive gross margin. In other words, the company has in fact been losing money for the years 2003 through 2006. For purposes of comparing the company’s operating margin of the two companies against the industry average, Vodafone is performing poorly compared France Telecom where average for operating margin 17% as taken from MSN (2008) under the telecommunication services. France Telecom had actually the same 17% average for the last four years while Vodafone’s average for the same period, was -29%. Please see Appendix A. Even in terms of Return of Assets (ROA, Vodafone had -8%, -7%, -7%, and -7% for the years 2006, 2005, 2004 and 2003 respectively which faired poorly again compared with France Telecom’ s 6%, 23%, 19% and 32% for the same years respectively. The results of these ratios further confirmed earlier observation in negative net profit margin for Vodafone. The same less desirable or profitability is further observed in terms of Return of Equity where Vodafone showed -6%, -5%, -6%, -6% for the years 2006, 2005, 2004 and 2003 respectively which are definitely lower than that of France Telecom which showed -6%, 2%, 5%, 3% and 4% for the same years respectively. Please see Appendix A. Although France Telecom also reflected negative ROE for 2006, it may be pointed out that years before the company were indeed clearly more profitable. It may be asserted that two ratios have different purposes. ROA measures how efficient management of company was in terms of assets employed in business while ROE measures how

Balance Sheet and Public Sector Reform Essay Example for Free

Balance Sheet and Public Sector Reform Essay Financial control 1.1 Assess the relationship(s) between a financial system or function and other systems or functions in an organisation Answer: Information and records are of critical importance to the functioning and controlling of systems in general, including organisational systems. Given the central importance of information and records to systems operation, including public sector organisations and the societies they exist to govern, we should not be surprised to learn that public sector reform efforts that overlook the information component often fail to meet their immediate objectives and the longer-term goal of establishing a framework for good governance. Efforts to improve the management of public sector records in many countries have been hampered by a gap between the National Archives and the government’s record-creating departments. The result has been that most of the records in the custody of the Archives are over forty years old, while the records in government departments remain unmanaged. Some National Archives have inspecting powers, but there are few professionals trained to manage current records. Moreover, there are rarely systems in place to ensure that semi-current and non-current records are transferred to secure accommodation or appropriately destroyed. The introduction of computerized systems, often a key part of public sector reform projects, is compounding existing record-keeping problems. These computerized systems are using information that may be seriously flawed and based on collapsed paper-based systems. It is because effective management of records is so crucial to achieving public sector reform objectives, which lead to good governance, that restructuring must encompass the management of records. Restructuring of records and archives management processes must be seen as an integral part of the restructuring of core government processes to ensure the success of public sector reform efforts. 1.2 Describe the systems of accounts and financial statements used to control a financial system Answer: Financial statements are the primary means of communicating financial information to parties outside the business organization. The four basic financial statements: Balance Sheet Income Statement Statement of Cash Flows Statement of Retained Earnings ACCOUNTING SYSTEMS In small enterprises there can be different kinds of accounting systems such as external, internal and tax accounting. Annex 3 summarises data per Member State concerning accounting system requirements for small enterprises. On the basis of this data, the following descriptions of accounting systems are given: Internal accounting Internal accounting, also called management accounting is based on the enterprise’s internal accounting procedures and recorded accounting information. Internal accounting is intended for managers within organizations, to provide them with the economic basis to make informed business decisions that would allow them to be better equipped in their management and control functions. For example, managers may want to be able to assess the contribution or the profitability of different products or services that they supply by comparing the revenues and costs that they generate. Unlike external accounting information, internal accounting is usually confidential and it is accessible only to the management. In most cases, small enterprises do not use internal accounting at all due to their size. Internal accounting is normally not governed by national legislation. However, in some Member States internal accounting is compulsory even for small enterprises. External accounting External accounting, also called financial accounting is concerned with the preparation of financial statements for decision makers, such as the owners, suppliers, banks, governments and its agencies, customers and other stakeholders outside the enterprise. External accounting makes use of the accounting information from the internal accounting system. In the preparation of the external accounting, the small enterprise may be governed by local 1.3 Analyse financial information contained in a set of accounts or financial statements Answer: The two main sources of data for financial analysis are a companys balance sheet and income statement. The balance sheet outlines the financial and physical resources that a company has available for business activities in the future. It is important to note, however, that the balance sheet only lists these resources, and makes no judgment about how well they will be used by management. For this reason, the balance sheet is more useful in analysing a companys current financial position than its expected performance. The main elements of the balance sheet are assets and liabilities. Assets generally include both current assets (cash or equivalents that will be converted to cash within one year, such as accounts receivable, inventory, and prepaid expenses) and noncurrent assets (assets that are held for more than one year and are used in running the business, including fixed assets like property, plant, and equipment; long-term investments; and intangible assets like patents, copyrights, and goodwill). Both the total amount of assets and the makeup of asset accounts are of interest to financial analysts. The balance sheet also includes two categories of liabilities, current liabilities (debts that will come due within one year, such as accounts payable, short-term loans, and taxes) and long-term debts (debts that are due more than one year from the date of the stateme nt).Liabilities are important to financial analysts because businesses have same obligation to pay their bills regularly as individuals, while business income tends to be less certain. Long-term liabilities are less important to analysts, since they lack the urgency of short-term debts, though their presence does indicate that a company is strong enough to be allowed to borrow money. The balance sheet also commonly includes stock-holders equity accounts, which detail the permanent capital of the business. The total equity usually consists of two parts: the money that has been invested by shareholders, and the money that has been retained from profits and reinvested in the business. In general the more equity that is held by a business, the better the ability of the business to borrow additional funds. In contrast to the balance sheet, the income statement provides information about a companys performance over a certain period of time. Although it does not reveal much about the companys current financial condition, it does provide indications of its future viability. The main elements of the income statement are revenues earned; expenses incurred, and net profit or loss. Revenues consist mainly of sales, though financial analysts may also note the inclusion of royalties, interest, and extraordinary items. Likewise, operating expenses usually consist primarily of the cost of goods sold, but can also include some unusual items. Net income is the bottom line of the income statement. This figure is the main indicator of a companys accomplishments over the statement period. Read more: http://www.answers.com/topic/financial-analysis#ixzz1uKymsDuW 2.1 As a manager you need to fully understand your role in the budgetary process. It is the most basic financial planning and control tool. Every manager needs to know what costs are associated with their department, and how in relation are they doing to that budget. You might achieve your departmental goals, but if you go over budget in order to achieve those goals, you create financial problems for the company and jeopardize your own job performance review. In most cases, part of your performance appraisal will be based on whether or not you were within budget for the year. Budgets need to be realistic. You can’t just say at a whim you need 20 new people, just as upper management can’t say you have only $10 for a years’ worth of training classes. Budgets are used to investigate variances, whether you went over or under budget, and address the reasons for the variances. You need to always look at ways to control those variances by controlling costs. By being on top of your budget, you might be able to make changes before it’s too late and you end up having to reduce staff or eliminate a branch of your department. There are basically two types of budgets, a capital expenditure budget and operating budget: 1. Capital expenditure (also known as â€Å"Capex†) relates to costs associated with plant and equipment. This is equipment that generally lasts for more than a year such as a copy machine. 2. Operating budget, which is related to the normal day-to-day operations and expenditures such as payroll, supplies, and miscellaneous. There are two types of budgets within an operating budget, sales budgets and expense budgets:  · Sales budget is associated with comparison and variance of the actual revenue brought with the projected revenue.  · Expense budget applies to all areas incurring operating expenses, including the sales department. This is the budget we will focus on. CASH BUDGET FOR 90 DAYS Beginning cash balance $ 320,000 Add: Estimated collections on accounts receivable750,000 Estimated cash sales 250,000 $1,320,000 Deduct: Estimated payments on accounts payable $ 800,000 Estimated cash expenses 150,000 Contractual payments on long-term debt 150,000 Quarterly dividend 50,000 $1,150,000 Estimated ending cash balance $ 170,000 2.2 Budgetary Control is defined as the establishment of budgets, relating the responsibilities of executives to the requirements of a policy, and the continuous comparison of actual with budgeted results either to secure by individual action the objective of that policy or to provide a base for its revision. 2. Salient features: a. Objectives: Determining the objectives to be achieved, over the budget period, and the policy (ies) that might be adopted for the achievement of these ends. b. Activities: Determining the variety of activities that should be undertaken for achievement of the objectives. c. Plans: Drawing up a plan or a scheme of operation in respect of each class of activity, in physical as well as monetary terms for the full budget period and its parts. d. Performance Evaluation: Laying out a system of comparison of actual performance by each person section or department with the relevant budget and determination of causes for the discrepancies, if any. e. Control Action: Ensuring that when the plans are not achieved, corrective actions are taken; And when corrective actions are not possible, ensuring that the plans are revised and objective achieved. Budgetary Control is an integral part of management. It consists in comparisons between the results of actual performance and budgeted performance. Central to this kind of comparison is Standard Costing and Variance Analysis. The purpose of this article is to clarify simply to the leaner, reader, and others peoples who related with accounts, budgets, costing department. 01. Variance Analysis: In a well-run organization the comparison between actual and budget is used as the basis for deciding the appropriate action. This document sets out how the analysis is used to highest effect. The procedure is actually part of the normal control process. Any variation from expected performance, in terms of budgets, where income or expenditure did not occur as expected. Variance analysis is the act of determining the drivers for those variations. Variances are noted and accounted for. A decision can be made to reduce expenses or reallocate resources. This technique greatly reduces the need for comprehensive review cycles. 2.3 Budget and Budgetary control, both at management and operational level looks at the future and lays down what has to be achieved. Control verifies whether or not the plans are understood, and puts into effect corrective measures where deviation or underperformance is occurring. This article Techniques of Budgetary Control examines how budget and budgetary control can impact on the performance of the organizations Techniques: Budgetary Control is an integral part of management. It consists in comparisons between the results of actual performance and budgeted performance. Central to this kind of comparison is Standard Costing and Variance Analysis. The purpose of this article is to clarify simply to the leaner, reader, and others peoples who related with accounts, budgets, costing department. What variance analysis is all about, avoiding pure technicalities and the terminology of accountants? Notice is confined to costs and cost variances in this article. A similar dealing of revenue and revenue variances would also be compulsory to acquire a proper perspective. Following explained The Budgetary Control Techniques 01. Variance Analysis: In a well-run organization the comparison between actual and budget is used as the basis for deciding the appropriate action. This document sets out how the analysis is used to highest effect. The procedure is actually part of the normal control process. Any variation from expected performance, in terms of budgets, where income or expenditure did not occur as expected. Variance analysis is the act of determining the drivers for those variations. Variances are noted and accounted for. A decision can be made to reduce expenses or reallocate resources. This technique greatly reduces the need for comprehensive review cycles.

Concepts of Health: Analysis of the Family

Concepts of Health: Analysis of the Family Health concepts in my family are very important. My family is consisting of three people, just my parents and me as other siblings have been married off. We believe that health is how we maintain ourselves every day and how we take care of our needs and important resources such as water, food and shelter. Well-being is considered to be how we take care of our relationships with each other. We believe that our spiritual beliefs and our thinking shape us on our behavior and attitude. Health and wellbeing in my family is also affected by how we feel most of the time. For example; whenever there is my argument at home, we all will not feel good and feel disturbed all the time until it is solved. Figure 1. Chand, K. (2010). Family Photo. (Personal photograph). This is my family photo which was taken at a wedding. In my life, family means a lot and they are the reason why I want to study and become someone better and they are also the reason for my existence. Without them my life is not possible and my family has been with me more than anyone else as they really understand me very well. Basically, my family is my resource for my everyday life and they are my number one needs and wants. When I looked at my family I see lots of hope in their eyes for me and I want to make sure that I am able to fulfill those hopes one day. Family is said to be working like chains which is repeated every now and then. The younger ones learns from elder ones while elder members of the family have their hopes high from the younger members and this chain is always repeated when younger members starts their own family later on (Asif,.n.d) Even though my sisters are married, they have moved to a new house and have their own family, we all three are in touch every day so anyone of us do not miss anything, we share what is happening in our lives and be update with each other always. My family belief it is best to be united with each other and this is done by either a small prayer on Tuesday at any one’s place or by a small get together every weekend. We bring gifts and sweets to each other’s place whenever any gathering happens. From a nursing perspective I will ensure that the patients I am working with will have their family around them because I really understand what family means and they are the only thing we all wish when unwell. Family can encourage you to get better and give hope to live life. When caring for a patient, a health practitioner should not only care for the patient but also be able to care for the whole family as the family is also affected (WebMD, 2014). Therefore, I will consider caring for the whole family as my patient and try to solve their problems and give support to them all. Figure 2. Chand, K. (2014). Friends Photo. (Personal Photograph) This is photo of my really close and best friends Shazyana and Manjani. I have known them for last one year and I really value their stay in my life. Friends are important to me because they are the ones I turned up to when in trouble or when I am lost and not sure of what I want. They are the only people I share my feelings with when I know that it is not safe to share at home or with any of the family members. They are always there for me like a family and I consider them as my sisters since both of them are older than me and they have always taken care of me as a little sister. For me, having true friends like them is a blessing and something to be proud of. Only true friends will stand during good and bad times and also face the rough phases of our lives and they are ones who can bring laughter and joy in our life (friendshipscolours,. n.d). My friends enhance my health as they always are there to support me and give me the right treatment. Whenever I talk to them I get mentally relaxed and feel prepared to fight any problem. From my nursing perspective, I believe that friends can help one to recover soon and they are the biggest support other than families. I would like to encourage my patients and try to become their friend but in staying in my professional limit all the time. Personal relationships play an important role in healing someone and strong relationships can lead to long and healthy relationships (University of Minnesota, 2013). Figure 3. Chand, K. (2015). Nieces and Nephew. (Personal Photograph). This picture is of my nieces and nephew, they are my elder sister’s children. The one in middle is eleven years old and her name is Anusha, the boy is nine years old and his name is Chetan whereas the one in the side is six years old and she is Shivwali. These children are very important to me and they mean my life not because I am their aunty but because how they see me. They consider me not less than their mum as all three of them shares things with me, their feelings and we all have our little secrets with each other. Some kids also find talking to their aunties more easier than talking to their mum (home and family, n.d.). I have seen them growing up and I am really proud to say that they are the best children I have ever seen and no one can replace them in my life not even my own kids when I will have my own family. They hold a very special place in my life and these children are full of life and are very innocent. My nieces and nephews health and wellbeing are very important to me because if anything happens to them I will not be able to handle it and also their wellbeing and health affects my health and wellbeing. When they are sick or having any troubles I feel the pain aswell because I feel emotionally connected with them. For example; in 2011 when Chetan broke his arm and was in pain for many days, I was not able to concreate on my studies and even though I was at school my mind was with him full time. Whenever I communicate with them and I see them I feel relaxed and I feel that yes I got a reason to live for. They are my inspirational and my motivation, they are the ones who have taught me to live life and also taught how to fight towards any odd. From nursing perspective, I will make sure that all my patients also have a inspiration in their life to make them wanting to live and get better. It may not only be the patients who are sick and suffering from illness but also the ones who are mentally and emotional disturbed and I am also interested i working with patients like them. This is because I have also went though depression in past due to boyfriend problems and I was at a point where I just want to end my life and that moment not knowingly my nieces and nephew had taught me valuable lesson for life. I saw how much they loved me and how much they had cared for me than I realized that when small children know how to live and love everyone than why us adults cannot be strong enough. I will try to treat my patients with the same love and care I have for my little ones and hopefully be able to teach them the valuable means of life my nieces and nephew have taught me. Just how these kids have saved my life once I want to save m any lives ahead. Figure 4. Temple Photo, (2015). Google Images. This is a photo of temple for us Indians and it is a scared place. Temple is said to be a place where we can find answers to all our questions and a place where we can also find peace. I personally like going to temple because for me I can relax and communicate with our gods. That heart to heart communication between me and my gods is very important because I share all my problems with them but not with the intention of getting it solved but receiving the strength to be strong during my fight. It is my family belief that when god has given us problems than he has also open doors to many solutions, but we just need to relax and find those ways to the doors of the solution. And also we have a mini temple at our home to worship gods and keep their photos and statues. I have noticed that whenever I talk to gods I can always see some differences on their faces, I do not find it stranger because it might be because that is how I see it. My wellbeing and health is affect by my beliefs in go ds because whenever I am sick I know that god will recover me in any way and that sharing my problems with them gives me a peace of mind and gives me hope and strength. Trusting god is like a belief that he has the power to help you and he will help you (Joyce Meyer, n.d) From a nursing perspective I believe that every individual will have belief like i do and these beliefs can enhance their health and wellbeing. Research shows that people who have spiritual beliefs have less chances of stress and do not think of harming themselves at all, they may get depressed in difficult solutions but their spiritual beliefs will keep them going (The Nemours Foundation, 2015). I would respect their beliefs because I know that their spiritual belief can enhance their health and wellbeing like it does to me. I will also encourage my patients to follow their spiritual beliefs and make sure that they meet their needs on time. Figure 5. Glucose meter, (2015). Google Images. This is a photo of a glucose machine which is used for measuring sugar levels in the blood. This machine will tell the amount of glucose in blood just by putting a drop of blood on a strip and inserting in the machine, the meter can generate the results in either two ways. One way is where it will measure the amount of electricity which is in the sample or the other one is where it will measure the amount of light reflects from the sample (MedicineNet, n.d). Maintaining sugar levels is very important to me because my dad is a diabetic patient. He has type two diabetic and his sugar levels is high most the time. He is not allowed to eat sweets and anything that contains sugar in it. My family is also strict on that matter with dad and dad always gets scolding whenever he tries to eat sweets. Diabetes affects me and my family’s health and wellbeing because it worries us about dad’s health and also that it is in our genes so we are scared most of the time that we children and our children in future will not have it. It affects our wellbeing because dad always wants to have sweets as he likes to eat sweets and when he is not able to eat than he gets angry and sad. We know that he is mentally disturbed and worried and he is craving for sweets but unfortunately we cannot do much help to him. From my nursing perspective, I will make sure that all of my patients sugar levels are normal and whoever has diabetes I would like them to view it as positive thing than a negative one because if they will take it negatively than they will not want the treatment for it and diabetes will kill them emotionally and mentally inside. Some patients might feel afraid of it and some might also feel depressed too but I will try to be on their side all the time and help them fight diabetes. When the person who has diabetes has the support and love of close ones than they are better to manage it probably as it is hard to fight disease like that alone ( National Diabetes Education Program, n.d) Figure 6. Music (2015),. Google Images Music is something which is important to me and my health and wellbeing. I love music and I believe that it relaxes me and makes me forget my problems for a while. Music is very beneficial because it can lead to creatively, it is the language of the universe, it has spiritual powers, and it can change moods and music brings people together (dotan negrin, n.d.). Music is also important because it is in our culture as well. We Hindus sing songs for gods at every occasion, and it is a belief that you get more close to gods and pleased them with music. Most of the mantra we say while praying is in songs so we pray to gods while singing songs and playing some music instruments. Music affects my wellbeing and health because whenever I am upset or sad I listen to music and I get relaxed and I try to forget my problems and gather the strength to fight it back. Music plays the same role in my life which temple and gods do. When in problem or not in good mood I take them on board and they make me feel relax. Also health wise, when I am sick or not feeling well I try listening to music which works for me as I start feeling better and maybe not start recovering but I feel fresh and alive. From my nursing perspective, I believe that music can help in treatment and I am saying this from my own personal experience. I will try encouraging my patients to listen to music of their own choice to help them feel better. Research has shown that music has worked its magic in the past and it has been used to get people back to their right state of mind and it has reduced stress and tension in patients (Collingwood, J. 2007). I am sure that we all like music and songs and it is going to be advantage to me while treating my patients in future because I am going to make them listen to music and let them relax. In conclusion my health and wellbeing is affected by my family, friends, my nieces and nephews, our Indian temple, glucose meter and music. All these things help me to keep healthy and keep me emotionally well. REFERENCES Asif,.(n.d). Importance of family in our lives. Retrieved on Febraury 25, 2015, from http://myefforts.hubpages.com/hub/Importance-of-Family-in-our-lives. Collingwood, J. (2007). The Power of Music to Reduce Stress-Psych Central. Retrieved on February 27, 2015, from http://psychcentral.com/lib/the-power-of-music-to-reduce stress/000930 Dotan., Negrin,.(n.d). Piano Around the World. Retrieved on Febraury 22,2015 from http://www.pianoaroundtheworld.com/. Friendships Colours,.(n.d). Friends Importance in Life. Retreieved on Ferbruary 26 2015 from http://sites.google.com/site/friendshipcolours/friend-importance-in-life. Joyce Meyer,. (n.d). How trusting god can transform your life. Retrievd on Febraury 26 2015from http://www.joycemeyer.org/articles/ea.aspx?aritcle.howtrustinggodcantransformyourlife. MedicineNet,.(n.d). Diabetes: Choosing and Using your Glucose Meter. Retrieved on February 23 2015 from http://www.medicinenet.com/script/main/art.asp?articlekey.20554. National Diabetes Education Program,. (n.d). How to help a loved one cope with diabetes. Retrieved on Febraury 17 2015 from http://ndep.nih.gov/publications/publishcationdetail.aspx?pubid=45. The Nemours Foudation,. (n.d). How can spirituality affect your familys health. Retrived on February 23 2015. WebMD,.(2014). Family Therapy. Retrieved on Febrauary 15 2015 from http://wwwwebmd.com/balance/family-thearpy-6301. University of Minnesota,. (2014). Why Personal Relationship are Important. Retrievd on Ferbraury 25 2015 from http://www.takingcharge.csh.umn.edu/enhance-your-wellbeing/relationships/why-personal-relationships.are-important. 1

Mona Lisa By Leonardo Da Vinci Humanism

Mona Lisa By Leonardo Da Vinci Humanism The transition movement that took place between the 14th and 17th century in Italy is known as the Renaissance time or by definition rebirth. The philosophy that took place in the period is one of the humanism or the focus on the human being. One of the master artists of this time is Leonardo Da Vinci (1452-1519) and one of the paintings that best represents the philosophy and art of this period is the Mona Lisa. The philosophy of humanism brought on a time where the focus was on the human being. The previous philosophy of the medieval time was more focused on biblical motivation, whereas humanism was not. Humanism stood for the; the emergence of the individual figure, in place of stereotyped or symbolic figure, greater realism and consequent attention to detail, as reflected in the development of linear perspective and increased realism of human faces and bodies (High Renaissance Art. (n.d)). The artist of the Renaissance time kept up with the spirit of humanism by portraying lifelike human forms with the realistic clothing, and expression and correct proportion. A new three-dimensional form was created with new techniques. The natural landscape began to appear as the background as a transition from the figures of heaven against a gold background. Realism and idealism are other concepts that were used in the Renaissance time and one could say that Leonardo Da Vinci mastered them. Realism or portraying subjects as they really were accomplished by: forms, colors, proportions, lights and shade effects, spatial harmony and composition. Leonardos background in science, drafting, sculpting and architecture all helped in every portion of his painting of the Mona Lisa (The Mona Lisa, (n.d.)). Idealism was the idea of portraying subjects, as they should be. The Mona Lisa was a painting that Leonardo Da Vinci was working on in between the years of 1503-1506; some believe the painting was still never finished by his death in 1519. The Mona Lisa clearly represents the philosophy of the humanism by representing the focus of the human being and realism. It also shows nature as shown in the background behind the figure in the painting. The main focus of the Mona Lisa falls actually on the person in the picture. In previous medieval art the figures in the portrait were pictured in profiles and were stiff. Mona Lisa is painted in a relaxed three-quarter pose and cropped in contrast to the norm of full-length portraits. Whereas pictures previously had the figure in the painting adorned with jewels and decorations the Mona Lisa is simple and free of any jewelry. The womans hair is smooth and only has a simple veil (which may be a symbol of chastity); her hands are relaxed and free of bracelets and rings. Only the folds of her robe or dress are present (Mona Lisa, painted from 1503-1507, (n.d.)) as well as the lace-topped dress she is wearing. The Mona Lisas main focus is on the face of the painting. The techniques of chiaroscuro, using lights and darks and sfumato (blending one tone to another) or the illusion of corners that allows the imagination to see the area in a different way, was introduced and used by Da Vinci in his painting (Mona Lisa painted from 1503-1507, (n.d.)). These techniques, that were achieved by using oil paints, were used on the face and the hands to make the person appear to be more real and almost as if she has movement. The smile that is so famous and adds to the mystery of her mood is also achieved by these techniques. While some viewers see the woman smiling others see her without a smile. The pyramid design, which was commonly used, also helps the viewer to focus on the women. It is believed that the pyramid gives a representation of giving tribute to the father, the son and the Holy Spirit. Mona Lisas pose is that of a pyramid shape with her head, shoulders and hands (Mona Lisa, La Giaconda, (n.d.)). There is also a glow on the face, neck and hands that puts an emphasis on those. Leonardo painted a true representation of the women of the time. The womans face is free of facial hair including her eyebrows. At this time it was common for women of the time to pluck their eyebrows because some feel they were unsightly. When Leonarod did this it makes the person very real (Mona Lisa, La Giaconda, (n.d.). The woman seems to be seated in a chair on some sort of balcony. The pillars to the side of the balcony almost form a frame to the figure behind the woman is a landscaped background. The figure in the painting is emphasized by the light and dark tones of the wardrobe as well as the background. The face and body have lighter tones on them with smooth lines; gone are the days of outlined figures. The background does not reflect heaven or spiritual symbols but that of nature, which was another emphasis of the time. The curves in the background with the paths, rivers and mountains are a small reflection of the curves in her hair and clothes. It is believed that Da Vinci was working on some of his finest sketches of plant life and nature (Mona Lisa, painted from 1503-1507, (n.d.)), when he worked on the painting. Some hints of yellow and gold are used in the winding paths behind the figure. The landscape in the background showing mountains, trees and water are painted in cooler blues and greens. There is a sense of depth and form because the picture becomes hazier as the landscape progresses backwards. Also, with this technique, the figure in the painting appears closer to the viewer and puts more emphasis on her because of the scenery. Leonardo Da Vinci may be considered one of the greatest artists of all times. Leonardo was a true master of the Renaissance time reflecting the philosophy of the time that being humanism and the emphasis of the human being. The Mona Lisa is a painting that shows such a philosophy of humanism. With the colors used, the shading and blending of the paints, Da Vinci could make the viewer focus on the human. The woman is very simple with no elaborate clothes or jewelry to take away from her, with a reserved posture. The background is that of nature, which another focus of the time was. The landscape showing depth helps the viewer focus on the women. The Mona Lisa is a true masterpiece of the Renaissance time. With Leonardo Da Vincis use of his techniques of sfumato and chiaroscuro he was able to make his figure of the women truly reflect the philosophies of the time. Mona Lisa appears to be a real woman with both depth and movement.

The Samurais, The Ultimate Stoics :: essays research papers

The Samurais, The Ultimate Stoics   Ã‚  Ã‚  Ã‚  Ã‚  For seven centuries, the Samurai were Japan's warrior class. As a class of warriors and knights, they dominated society in feudal Japan. Their code or â€Å" Way of the warrior†, bushido(History of the Samurai-www),called for a life of duty, discipline and self control, on and as well as off the battlefield (History of the World-Houghton Mifflin Company- Boston288). His loyalty and bravery to his lord was much more important than his loyalty to his friends, family and even their emperor. Their philosophy was one of freedom from fear(World Surfari-www), and for these reasons, The Samurai were the ultimate stoic warriors.   Ã‚  Ã‚  Ã‚  Ã‚  The word samurai was derived from the Japanese word for service, saburau(Grolier Electronic Publishing, 1993), for they served their masters faithfully. They would die if necessary for them. The Daimyo or feudal landowners used the samurai to protect their land and to expand their rights to more land. The Samurai would transcend their fear of death, this made them the stoic warriors that they were.   Ã‚  Ã‚  Ã‚  Ã‚  As experts in fighting on horseback as well as on the ground they wore two swords. This was called Daisho(World Surfari-www). The long sword was called the daito-katena(Ibid.). It was more than twenty four inches long. The shorter sword was called shoto wakizashi. It was between twelve to twenty four inches(Ibid.). Their swords were the â€Å"soul's† of the worship. A good sword was tougher and sharper. The swords were tested before they were used by the samurai. The sword tester used the new blades to cut through corpses and bodies of condemned criminals.(World Surfari-www) The test results were put on the nakago, the small metal piece on the sword blade or handle(Ibid.). Another weapon, the nagita, was used by a foot soldier on a horseman. The foot soldier would cut. the tendons of the horse and disembowel them.   Ã‚  Ã‚  Ã‚  Ã‚  The samurai went from military retainers, to military aristocrats, to military rulers(Japan, Richard Storry18) The medieval samurai were often illiterate, rural, landowners who farmed in-between battles. They were assassins of the night and at the same time keepers of peace. The samurai would spend his life perfecting his military skills.   Ã‚  Ã‚  Ã‚  Ã‚  Honor was one of the most important things to a samurai. If a samurai felt dishonored in any way he would commit seppuku. Seppuku means ritual suicide (Japan, Cultures of the World- Rex Shelley104). It is also called hara-kiri which means belly-slitting. This method of self-disembowelment was the only honorable form of death for a disgraced noble or a samurai.

Exploring Fear in Howl, Basketball Diaries, and Cats Cradle Essay

"yacketayakking screaming vomiting whispering facts and memories and anecdotes and eyeball kicks and shocks of hospitals and jails and wars" (Ginsberg 11). Like many authors of the modern literature movement, Allen Ginsberg explores the bomb's psychological affects on many Americans during the 1960s. Modern literature describes the chaos of the 1960s, caused by increasing societal problems and fear of the new atomic bomb. Writings such as The Basketball Diaries, "Howl" and Cat's Cradle express concepts of fear, power, governmental control, and death. Government uses society's fear of death and the end of the world to keep control and power over the people. The atomic bomb generates such universal fear and the corrupted government fails to respond to the chaotic behavior of society or the fears of the individuals. This fear that the government achieves not only maintains control, but also causes chaos and the false belief that the government is on the public's side. The chaotic enviro nment is a result of people crying out for help and the conflicting lifestyles arise when people face the terror of death. Historically, fear has been used to control populations. For example, asearly as the 1700s, white men controlled black slaves through the fear of being killed. During slave days, in the South, the ratio was nine blacks to every white person (Nash and Graves 213). When Nat Turner, a black slave, finally revolted, the United States government responded by sending the army with tanks and guns to resist the black men. The reaction of the whites imbedded the fearof revolts within the slaves. The blacks could have successfully revolted, but were controlled by the fear of the powerful white man. The white man held the power and con... ...ld such dangers have any significance to life? Jim Carroll tells the real story of his fear of the end and the mixed feelings of what matters, what doesn't. His fear is accompanied by confusion of how to live, today, with the possibility of being killed tomorrow. Throughout "Howl," The Basketball Diaries, and Cat's Cradle it is evident that the government controlled society with the fear of the bomb. We can see how this fear influenced individuals and society as a whole. The government caused the fear in society by possessing the atomic bomb and ignoring problems arising. Society blaimed the people for their reactions to the fear of the bomb. Furthermore, the government presented itself as protector, leading to increased confusion and chaos. In modern society, deciding who is the enemy and who holds the power, determines who controls the fate of the world. Â  

International Politics :: essays research papers

Political Science to me is something of a cycle, which is attached to the world’s history and is an ever-changing science of communication at a state and national level. This cyclical process is also attached to my personal adoption of political ideologies, i.e., as times change, as well as my surrounding environment, as an individual, I am forced to adapt to my surroundings, rather than a rock smashing through stubbornly regardless of the damage it may cause to all parties. I am not talking of conformism, rather the adoption to my political and social surroundings that would best serve in the interests and security of the community at large. To provide the reader of a greater understanding to this ideology perhaps entails that I give a small personal example. I come from a diverse background that allows me to understand history and politics from many perspectives and which has made me less biased than the average man. Born in England, to a Turkish Father and a British Mother, and having lived in England, Turkey, as well as Canada has broadened my vision of the world to a great extent. This is of course excluding the many political conferences that I have attended and the many countries I have visited around the world. An example of an assignment which required the utmost patience and the most open of minds was at a Model UN conference in Philadelphia I was assigned to represent Greece on the issue of Cyprus, being part Turkish one can understand what open mindedness that took. To do such a thing required the total adoption of what is the opposite of my historical perspective. However in doing so, this has brought me an understanding of international relations, conflict and interests. This brings me to the ideology that I believe is most prevalent in the worlds state system of today’s Realism. Many people view this ideology as a somewhat pessimistic view of the world and tend to believe in greater harmony and cooperation. These tend to be the idealists known to us as the Social Democrats of Europe, the Liberals in Canada, and the Democrats in the United States. Realism at this time and point of history seems to be the actual way that things are going amongst states. Alliances (rather than friendships) are formed and balances are created. These Alliances are not there for anything more than security and self-benefit, of course the other half of an alliance definitely must fulfill its interests as well or else no alliance would be possible.

Analysis of graduation Essay

During the mid nineteen hundreds, racial segregation was prevalent in the United States, especially in the South. In the essay, â€Å"Graduation† Maya Angelou tells about her experience of graduating from the eighth grade in Stamps, Arkansas. In today’s society, a graduating ceremony is exciting for all, however, it is not uncommon. Often, people take these type of experiences for granted. This was not the case for Angelou. To her, having a graduating ceremony in her hometown was considered a privilege. The writer structures the essay to evoke feelings from her readers and to get her point across. Angelou uses literary elements to convey the overall point of the essay, starting with the title. â€Å"Graduation† references the commencement ceremony that takes place during the essay. It implies a pronouncement of the writer moving on and growing up. Structure helps convey the main reason the writer wrote this essay. The essay is structured in a way that the reader can feel empathy for the writer and understand what she and her community were dealing with during the nineteen forties. Also, Angelou structures her essay to show how the experience, both the good and the bad, helped her to understand herself. Tone plays an important role in conveying the overall point of Angelou’s essay. There are two major shifts that occur throughout the essay. The essay started off with an excited and happy tone about it. When Angelou writes, â€Å"The children in Stamps trembled visibly with anticipation. Some adults were excited too, but to be certain the whole young population had come down with graduation epidemic† (15) it exemplifies the happy tone of the essay. Angelou was thrilled to finally be graduating and moving on to all the possibilities life would bring her. However, in the middle of the essay the tone completely shifts in the opposite direction. Once the two white politicians walk on stage, the entire atmosphere of the graduation changes. Angelou expresses that her mood has changed when she says, â€Å"The man’s dead words fell like brinks around the auditorium and too many fell in my belly† (21). The racist nature of his remarks were not clear to him but still managed to make Angelou feel little, as if she could never amount to  anything. The writer includes this in her essay to reflect her pain and to show how one man had such a negative effect on everyone attending the ceremony. Fortunately, toward the end of the essay, the tone shifts back to being happy, joyful and somewhat hopeful. When Henry Reed lead the students in the singing of the Negro National Anthem, it brought back a sense of unity to the community. For the first time Angelou truly heard the lyrics and they finally gave meaning to her; she felt optimistic of what could come in her future. Not only does Angelou use literary elements in the essay, she also includes important details to reference to the specific time period. A big part of the message Angelou is trying to convey is the racial segregation that is taking place. In the beginning of the essay, the writer compares the white and black schools to each other. She goes on to define the black school by what it lacks, â€Å"neither lawn, nor hedges, nor tennis courts, nor climbing ivy† (16). This reveals a clear illustration of what the white schools were given and how unimportant and unattended to the black schools were. Bigger than that, it defines society’s priorities in the nineteen forties. Another prime example of the lack of importance on the black communities was the name of the school, Layfette County Training School. Black schools were called â€Å"training schools† because it was believed blacks didn’t need a real education. Black schools did not focused on further education, mainly because they weren’t given equal opportunities to do so. When Donleavy is referring to the graduates as future athletes and nothing else, it’s an insult to them because he’s implying that they can never amount to anything greater than that. Angelou includes these details in the essay to show the type of attitude white people had toward the black community. The overall reason for Angelou to write a piece that holds as much meaning as â€Å"Graduation† was to share her experiences with the world. She wanted to make readers aware of the reality of racism. She allows the reader to understand, and for some maybe even relate. A deeper message Angelou wanted to convey with the reader is that no one person, no matter the color of their skin, should be able to put a person down. A day that was supposed to be one of the happiest in her life was made ugly by the racist remarks of a white man. Seeing Angelou overcome that with the help of her classmate Henry was a powerful thing. Using specific structure, tone shifts and important references to the time period the writer was able  to write an essay that was both thought-provoking and emotional. Angelou not only wrote for the entertainment of her readers, she wanted to teach readers the reality of racism. But beyond that, she showed them how one man’s words or actions were not going to keep her down. Angelou wrote about something that wasn’t talked about often, black graduations, and with the writing techniques she used turned it into a famous book.

Literary Device Compare and Contrast Essay

Compare and Contrast Essay Short stories are often the best way to learn about literary terms and their uses. They’re short, as their name depicts, but contain everything that longer stories would have such as the elements of plot, foreshadowing, themes, tone, and other literary devices. The two short stories, The Parsley Garden by William Saroyan and Sweat by Zora Neale Hudson were both amazing to read and offered a lot of insight to American history. The Parsley Garden told the story of an adolescent, named Al, during the depression, who wanted a hammer he saw in a store. Not having a single penny on him, he decided to steal it, getting caught in the action. Lectured and humiliated by the store manager, Mr. Clemmer, he was let go resulting in him plotting his revenge and a way to get his pride back. Sweat was the story of an African-American wash-woman, Delia. She was constantly abused and was trapped under her tyrannical husband, Sykes who openly cheated on her with another woman. Despite all her hardships with her husband, she worked long and hard using her own sweat and blood to clean clothes. As their relationship got even worse, Sykes decided to pull an ugly prank on Delia that would later backfire on him. Both stories had their similarities and differences, but some stood out more than others. The climaxes of the two stories were similar in that they were both turning points in the story, but also different in the way the story was resolved. In Sweat, the resolution is bitter sweet. â€Å"She saw him on his hands and knees as soon as she reached the door†¦she knew the cold river was creeping up and up to extinguish that eye which must know by now that she knew. Delia was emancipated from the abuse of her husband, but she still pitied him and was upset over the death of her Sykes. The Parsley Garden ends in the more typical, happy fashion. Al finally obtains his hammer while regaining his pride. â€Å"His mother went inside and went to bed, but Al Condraj sat on the bench he had made and smelled the parsley garden and didn’t feel humiliated anymore. But not hing could stop him from hating the two men, even though he knew they hadn’t done anything they shouldn’t have†. The differences in the resolution of the two stories are common as resolutions are much more complicated than the fairytale ending these days. Each has its own unique touch but both resolved the story with the readers in peace. Themes are the morals of the story. Both stories had many themes; some similar, some completely different. In Sweat, some of the themes included oppression, honesty, and determination just to name a few. The Parsley Garden had a few more common ones such as coming of age, honesty, pride, and integrity. The theme that occurred most in Sweat was oppression as it was seen throughout the essay. It was the main theme unlike The Parsley Garden which didn’t have one main theme but many smaller themes spread out evenly. â€Å"She brought love to the union and he had brought a longing after the flesh. Two months after the wedding, he had given her the first brutal beating†. Quotes about Delia getting beat, reoccurred throughout the whole story, compared to The Parsley Garden, where the themes did not reoccur. One aspect of stories in general always intrigues me. The conflicts between the characters or between themselves is what makes up the story, so conflicts are one of the most important literary terms in a story. Both stories contain man vs. man conflict such as when Delia and Sykes fight â€Å"That night he did not return at all, and the next day being Sunday, Delia was glad she did not have to quarrel before she hitched up her pony and drove the four miles to Woodbridge†, and when Al was grabbed by the young man in the store â€Å"but as he did so a man took him firmly by the arm without a word and pushed him to the back of the store into a small office†. Man vs. man is often the most common type of conflict as there is usually a protagonist and an antagonist. The stories differed in that Sweat also had man vs. society, where it went against society, for Sykes to beat Delia as aforementioned with the theme, oppression. Sweat and The Parsley Garden were similar in many ways, but they also had more differences than similarities. This just shows the variety of stories there are out there in the world. Comparing two different stories would yield completely different ways of writing. There are just too many ways of writing, but one can bet one thing for sure. There will always be literary devices in a good story and it will always follow a plot.

Internship Report on Ztbl

Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 1 â€Å"INTRODUCTION TO REPORT† 1. 1 BACKGROUND OF STUDY The Zarai Taraqiati Bank Limited is the premier financial institution geared towards the development of agriculture sector by providing financial products and services to their customers. It is a common practice at universities during the completion of the masters and bachelors program to attain practical experience in different fields.Students are required to undergo an internship program of two months to fulfill the requirement for their degree completion. The selection of the firm is based on the choice of the student. The institute requires an internship report based on the theoretical and practical learning of the student. The Internship is the bridge between academic qualification and professional career of fresh graduates†. This internship report is mainly focused on the working of the Finance and Accounts Division of the ZTBL.Moreover, the i nternship is a unique aspect of education that integrates study with planned and supervised career-related work experience. The students are involved as non-paid â€Å"authentic employees† receiving academic credit for work experiences. The purpose of the internship program is to develop and strengthen the student’s educational and career preparation. By doing internship in any organization that obviously exposes the interpersonal relationships not only with employees but also with supervisor that are essential in obtaining a successful and satisfying career.This background of the study is mainly focus on the performance, functions and objectives of the Finance and Accounts Division of the ZTBL and its internal working and operations of this division. While, the internship is any experience where students learn by taking on responsible roles as workers in organizations and observing and reflecting on what happens while they are in the workplace. It provides 1 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report any advantages to student that helps him throughout his life. Some advantages of internship program are given as under; ? ? ? ? ? To gain professional experience and receive academic credit To enhance independence, responsibility and self-confidence To Interact and collaborate confidently with employees To share ideas with one another. To translate classroom knowledge into the professional work environment and to make plan, how to carry the activities. ? To work towards the process improvement. 1. 2 PURPOSE OF THE STUDY The purpose of conducting this study is to develop some insight into the orking of the Finance and Accounts Division of the ZTBL and to gain the experience regarding the overall operations and procedures of the bank, in order to complete the BBA (Hons) degree as well. The purpose of the internship program is to develop and strengthen the studen t’s educational and career preparation, which they gain from university. Another important aspect of the internship program is that internee is placed to various departments of the organization through job rotation. It provides a glance of each department, as the period is too short for learning in detail. Other objectives of the study are as follows: ?To gather relevant information then interpret and analyze it in a useful manner. ? ? ? ? To highlight the facilities and products offered by the ZTBL to its customers. Internship can develop good work habits and to reduce student dropouts. To develop, enhance and strengthen the communication skills. To observe and participate in a professional work situation which represents an area of career interest. 2 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To develop an understanding of the organization, its mission, objectives and management phi losophy.To acquire good work habits and gain an awareness of the community’s vast resources. To be responsible and work toward specific achievable goals. To analyze the bank through different analysis such as Ratio & SWOT analysis. ? ? ? 1. 3 SCOPE OF THE STUDY The scope of the conducting this study is given as under; It is a compulsory requirement for the award of Bachelor’s Degree in ? Business Administration from the Kohat University of Science & Technology. ? This report is concerned with the performance, functions and objectives of the â€Å"Finance & Accounts Division of the ZTBL† Head Office Islamabad. ZTBL. ? It can provide help to the management of the ZTBL in identifying their Strengths, Weaknesses, Opportunities and Threats. ? It can also provide assistance for the students in seeking annual reports for the purpose to calculate and interpret financial ratios, in order to check the liquidity, leverage and profitability of the ZTBL. ? Further more, stud ents are able to analyze the human resources & analyze the marketing of products and services schemes that the ZTBL provide his customers. It will help the students in making assignments and writing reports on the 1. 4.IMPORTANCE OF STUDY Banks play a central and very important role in the economic life of a country, that’s why they are considered as the lifeblood of modern economy. Today no one can deny the importance of banking in the economy. They facilitate and expedite 3 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report trade and commerce and provide a variety of services that one can’t imagine without banks. I have chosen the ZTBL for my internship because it has a large network of zonal offices and branches.But besides this, the ZTBL plays an important role in the economic development and growth of Pakistan. 1. 5. RESEARCH METHODOLOGY During the internship at the ZTBL Head Office Islamabad, the most important task was to collect as much as information on the bank in order to have a full productive report. For the collection of information and data, I used two methods for collecting data for the preparation of internship report such as primary and secondary collection methods, which is given as under; 1. 5. 1. Primary Data Collections: In primary data collection method, I interviewed different officers for this purpose.The interviews were not of formal nature but it went along with time and the questions arose with identification of problems. I prepared many questions and discuses with Bank officers asked all the detailed function and procedures of there departments. All officers fully cooperated with me and provided all the necessary information which was required to me. The interviews have been taken from the bank officers and also the discussion was conducted with the heads of different departments. For collecting primary data, I use my own observation an d discuss my problems with previous internees. 1. 5. 2.Secondary Data Collection: The data that are previously collected and assembled for the some projects other than the one at hand. It is also called as historical data. This method can almost always be gathered faster ant at a lower cost than primary data. The secondary data is collected from following sources; ? ? ? ? Annual Reports & Accounts manual. ZTBL web site & Internet. Brochures. Pamphlets. 4 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? ? ? Newspapers. Business journals. Books. 1. 6. LIMITATIONS OF THE STUDYThere are some limitations which, I had to face as an internee during the Internship program in the ZTBL Head Office Islamabad, which are described as under; ? ? Time was too short to visit all division and departments of the organization. The problem of loud shedding makes delay in preparing this internship report of the ZTBL. ? All staff members avoided to give every information. However, they kept most of the data secrets. So, it was very difficult to collect the relevant information. ? The vice presidents, executives, managers and other staff members have their own matters of bank nd it was a great problem for me. ? Lack of co-operation by some employees because they were non-research oriented and also lack of accuracy of the relevant data. ? Instead of all these difficulties, I have completed this internship report on the Finance and Accounts Division of the ZTBL Head Office with full cooperation of few managers. 1. 7 SCHEME OF THE REPORT The internship report on the Finance & Accounts Division of the ZTBL is arranged in four sections and ten chapters. The report is arranged in the following sequence. SECTION-I This section has one chapter. Chapter 1: Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report This is an introdu ctory chapter which describes the introduction, background, purpose, scope, importance, research methodology, limitations and scheme of the report. SECTION-II This is lengthiest section of the report; it includes the review of the ZTBL. This section is comprised of eight chapters. Chapter 2: This chapter is about bank and banking, evaluation of banking, overview of banking in Pakistan and role of banks in the economic development of the Pakistan.Chapter 3: This chapter encompasses the introduction, history, mission, vision, objectives, restructuring plans, BOD, zonal offices & branches, ranking of staff members and subsidiary of the ZTBL. Chapter 4: This chapter briefly describes the products & services such as loans & schemes and the recovery procedure of the loan of the ZTBL. Chapter 5: This chapter is concerns with the introduction, objectives, functions, classification and hierarchy of the Finance and Accounts Division of the ZTBL. Chapter 6: This chapter describes the introduct ion, objectives, unctions and units of the Central Accounts Department of the ZTBL. Chapter 7: This chapter describes the introduction and units of the Head Office Accounts Department of the ZTBL. Chapter 8: This chapter is concerns with the introduction, objectives, functions and units of the Regulatory Reporting Department of the ZTBL. 6 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report Chapter 9: This chapter describes the introduction, objectives, functions and units of the Budget & Fund Reconciliation Department of the ZTBL.SECTION-III This section also has one chapters and it is about the various analyses of the ZTBL. Chapter 10: This chapter explains the SWOT analysis, ratio analysis, human resource analysis & marketing analysis of the ZTBL. SECTION-IV This section contains only one chapter. Chapter 11: This chapter explains findings, recommendations, personal experience, conclusions & annexur es of the ZTBL. 7 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 2 INTRODUCTION TO BANKING† 2. 1 MEANING & ORIGIN OF BANK Some authors are of opinion that the word bank is derived from the word â€Å"Banquet† which means a â€Å"Bench†. This is attributed to the fact that the Jewish transacted the business of money exchange on bench in market place. â€Å"A bank includes a body of person, who carry on the business of banking† or â€Å"a bank may be as an institution dealing mainly in money and credit. It accepts deposits from one class of people at a lower rate of interest and industry for meeting the requirements.This provides finance for successfully carrying on various stages of production as well as distribution. † Moreover, a bank can stimulate the habit of savings amount for the people and provide the security and interest they offer with these savin gs which are deposited by people are in a position to utilize the deposited amount more productively. In short, a bank can increase the transaction capacity of the customers by advancing loans when they require for additional funds to finance their expanded program of business transaction. 2. 2 EVOLUTION OF BANKING Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report According to the banking companies ordinance 1962 â€Å"banking is business that receive investment or lending of deposits of money from public and repayable on demand or otherwise and which draw able by cheque, draw orders or otherwise†. As regards the growth of modern commercial bank, it can be traced to as early as 600BC. The â€Å"An Outline of Money†, written by G. Crowther, has traced the history of modern English Commercial banking.According to him, the present day banker has three ancestors such as merchants, goldsmith s & money lenders; which are briefly explain as under; 2. 2. 1 The Merchants: The earliest stage in the growth of banking can be traced to the working of merchants. These merchants were traders in commodities. The trading activities were carried on by them from one place to another. It was risky for the traders to carry metallic money with themselves for payment. The traders with high reputation began to issue receipts which were accepted as titles of money.These receipts or letters of transfer also called hundi in Indo Sub Continent were the first mode of payments. The merchant banking thus forms the earliest stage in the evolution of modern banking. 2. 2. 2 The Goldsmiths: The second stage in the growth of banking is normally traced to earlier goldsmiths. These goldsmiths also called Seths in India used to receive gold and silver for safe custody. The goldsmiths began to issue receipts for the metallic money (gold & silver) kept with them. These receipts with the passage of time b ecame payable to the bearer on demand.In this way the ‘goldsmiths’ note, become a medium of exchange and a mean of payment. The goldsmiths, thus, can rightly be termed as the fore-runners of the modern bank note. 2. 2. 3 The Money Lenders: The third stage in the development of banking arose when the goldsmiths became the money lenders. By experience the goldsmiths (who were called money lenders) came to know that they could keep a small proportion of the total deposits for meeting the demands of customers for cash and the rest they could easily lend. They allowed the depositors to draw over and above the money Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report actually standing to their credit. In Economic terminology, we can say that they allowed the overdraft facilities to their depositors. When every money lender and goldsmith issued receipts and most of them allowed the overdraft faci lities, there was too much confusion in the banking system. The money lenders and goldsmiths, in order to earn profits, could not keep adequate reserves for meeting the demands of the customers for cash.The failure on the part of the money lenders and goldsmiths to return money caused widespread distress among the people. In order to create confidence among the people, steps were taken to regulate the banking organization. A conference was held in Nuremburg in 1548. It was decided that a bank should be set up by the state which should streamline the banking organization and technique. The first central bank was formed in Geneva in 1578. Bank of England was established in 1694. The modern commercial banking system actually developed in the 19th century. 2. 3EVALUTION OF BANKING IN PAKISTAN At the time of independence the areas, which now constitute the Pakistan were producing only food grains and agricultural raw material. For Indo-Pak sub continent, there were practically no industr ies and whatever raw material was produced was being exported from the Pakistan. How ever commercial banking facilities were provided fairly well here. There were 487 offices of scheduled banks in the territories now constituting the Pakistan. As a new country without resources it was very difficult for the Pakistan to run its own banking system immediately.Therefore in accordance with the provision of Indian independence Act 1974, an expert committee was appointed to study the issue. On the recommendation of committee Reserve Bank of India continued to function in the Pakistan, till 30th September 1984, so that problem of time and demand, liability, coinage, currencies exchange etc be settled between India and Pakistan. It was decided that Pakistan will take over the management of public debt 10 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report nd exchange control from reserve Bank of India on 1st A pril 1948, and that India notice would continue to be legal tender to the Pakistan till 30th September 1948. Following the announcement of independence plan in June 1947, the Hindus residing in the territories now comprising Pakistan started transferring their assets to India. Moreover the banks including those having the registered offices in Pakistan transferred to India in order to bring a collapse of new state. By 30th June 1948, the number of offices of scheduled banks declined from 487 to only 195 in the Pakistan.There were 19 non-Indian foreign banks with the status of small branch offices, which were engaged solely in export of crops from the Pakistani institutions i. e. , Habib Bank and Australia Bank. The government promulgated the Banking Companies Ordinance 1947, to safeguard the interests of both banks and the customers. The Imperial Bank closed down most of its offices in Pakistan, which created serious problems. The Indian government withheld Pakistan’s share o f Rs. 75 corer in cash balance held by them at the time of partition.The urgency of assuming control of banking and currency was very badly felt now. The government of Pakistan decided to establish a full-fledge central Bank. Father of the Nation, Quaid-i-Azam Muhammad Ali Jinnah, inaugurated the State Bank of Pakistan on July 1948, after the State Bank of Pakistan order was promulgated on 12th May 1948. The SBP provided every help and encouragement to Habib Bank to expend its network of branches and formulated and developed NBP in 1949 as an agent bank, which took over the agency functions in 1952 from Imperial Bank of India.In order to develop sound banking and weeding out week institutes, the Banking Companies Act was promulgated in 1949, empowering the SBP to control the operations of banking companies in Pakistan. In a very short period of time number of scheduled banks and other specialized credit institutions rose to thirty six. By June 1965, the numbers of branches of schedu led banks were 1591. Pakistani commercial banks were nationalized in 1974, but the process was reversed as nationalization proved to be defective. The ZTBL, MCB, 11 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ABL and UBL have been privatized and HBL is expected to be privatized within near future. The nationalization of Banks in Pakistan since 1st January 1947 has heralded a new era of development and progress. It has taken a complete banking system with effect form January 1981. The privatization process of state owned banks and enterprises started in 1991. 2. 3 CLASSIFICATION OF BANKS IN THE PAKISTAN The banks are classified according to their spheres of activities. The main types of banks are as under: 1.Central Bank: Every civilized country now has its own central bank. The primary function of the central bank is to regulate the flow of money and credit in order to promote efficiency, stabil ity and growth in the country. In Pakistan, the SBP is the country’s central bank. 2. Commercial Banks: These banks are engaged in performing the routine duties of banking business. They collect surplus money from the people. They make loans and advances in the form of overdrafts, cash credits, discounting bills of exchange. The commercial banks also manufacture credit money.They also provide agency services and general utility services. These banks are considered the lifeblood of the economic society. Some commercial banks are owned and controlled by the government which is called as public sector banks. For e. g. , NBP, HBL, UBL†¦etc while other commercial banks that are owned by corporations is called as private sectors banks. For e. g. , MCB, ABL, City Bank†¦etc. 3. Exchange Banks: As name signifies, these banks mainly deal with international trade. These banks take the responsibility of settlement of foreign exchange and arrange the foreign business.In Pakistan , all the nationalized commercial banks have been allowed to do the business of exchange banks. 4. Saving Banks: Saving banks are those banks which collect and keep the small savings of the public. They are called also thrift promoting institutions. The saving 12 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report banks invest the funds in the safest government securities. The Post offices and saving centers perform the business of saving banks in Pakistan. 5.Agriculture Banks: The agricultural banks (specialized banks) are set up to provide financial assistance to the agriculturists. The agriculture banks provide short term credit to the farmers for the purchase of seeds, fertilizers, pesticides, fuel†¦. etc. They also make medium term advances for buying tractors and introducing modern techniques in farming. In Pakistan, the Agricultural Development Bank of Pakistan was set up in 1981 for meetin g the financial requirement of agriculture, the ADBP is incorporated as public limited company, according to the â€Å"Company Ordinance 1984† & is name was changed to the ZTBL in 2002.An agriculture bank is also called as domestic banks because these banks are registered and incorporated within the country. 6. Industrial Banks: The industrial banks mainly provide medium and long term credit to the industries. Since the industrial banks have long term deposits, they are in a position to permit long term investment in industries. In Pakistan, the Industrial Development Bank was set up in 1961. The other institutions engaged in providing financial assistance to industries are PICIC, NDFC†¦. etc. 2. 4 ROLE OF ZTBL IN THE ECONOMIC DEVELOPMENT OF THE PAKISTANBanks play an important and active role in the economic development of a country. If the banking system in a country is effective, efficient and disciplined, it brings about a rapid growth in the various sectors of the ec onomy such as agriculture, industrial, and the SME sectors. If the banking system is unorganized and inefficient, it creates maladjustments and impediments in the process of development. In Pakistan, the banking system is very well organized. The SBP established on July 1st, 1948 stands at the apex and is responsible for the operation of the banking system in Pakistan.The other banks such as commercial, specialized or unspecialized banks which form the banking structure in the Pakistan are playing an active role in the 13 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report economic development of the country. The role of the ZTBL in order to achieve economic growth and development of the Pakistan is briefly explained as under: 1. Development of Agriculture & Industrial Sector. The ZTBL particularly in rural areas of Pakistan are now providing credit for the development of agriculture & industrial secto r.The provision of credit to agriculture & industrial sector has greatly helped in raising agricultural productivity and income of the farmers. This has led to increased demand for industrial goods and expansion of trade & industry. The use of bank drafts, cheque, bills of exchange, credit cards†¦. etc, has revolutionized both national and international trade. 2. Banks Promote Capital Formation. The ZTBL plays an important role in rising of the financial resources. They encourage savings by giving various types of incentives to the savers.They expand branches of the banks in the rural and urban areas and mobilize savings even at far of places. These savings are then made available to the businesses which make use of for productive purposes in the country. 3. Investment in new Enterprises. Businessmen normally hesitate to invest their money in risky enterprises. The ZTBL generally provide short, medium & long term loans to farmers to invest in new enterprises and adopt new metho ds of production. The provision of timely credit increases the productive capacity of the country. The organized banking system helps in directing physical resources into productive channels.It also keeps a balance between the availability and requirements of the capital in the country. 4. Balanced Development of different regions. The ZTBL plays an important role in achieving balanced development in different regions of the country. They help in transferring surplus capital from developed regions to the less developing regions. The trade industries etc of less developed regions are able 14 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report to get adequate capital for meeting their business needs.This in turn, increases investment, trade and production in the country. 5. Monetization of the Economy. The commercial banks by opening branches in the rural and backward areas are reducing the exchange of g oods through barter. The use of money has now greatly increased the volume of production of goods. The non monetized sector (barter economy) is now being converted into monetized sector with the help of commercial banks. 6. Implementation of Monetary Policy. The central bank of the country controls and regulates volume of credit through the active cooperation of the banking system in the country.It helps in bringing price stability and promotes economic growth within shortest possible period of time. The ZTBL under the supervision and guidance of the SBP help in implementing and achieving the objectives of the monetary policy which vary from time to time. 7. Financing Development Projects. The ZTBL provide short, medium & long term loans for financing of development projects both in private and public sectors. The ZTBL starts projects with the Ministry of Food, Agriculture & Livestock (MINFAL) launched an integrated development program entitled â€Å"Crop Maximization Project† in 15 districts.The MINFAL will provide funds to the tune of Rs. 299. 833 millions to the ZTBL and thus help in accelerating the rate of economic development in the country. 8. Booting the Exports: In order to boosts the exports of the agriculture and industrial goods of the Pakistan, the banks have established export promotion cell for the information and guidance of the exporters. 9. Less Reliance on Foreign Capital: A planed banking system by launching a vigorous campaign of mobilizing idle saving in the country can meet the capital development requirements from within the country.The country will thus have to rely less on foreign capital for financing in the development projects. 15 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 3 â€Å"INTRODUCTION TO ZTBL† 3. 0 INTRODUTION The Zarai Taraqiati Bank Limited is the leading, premier and specialized financial institution geared t owards the development of agriculture, industrial and SME sector, by providing financial products, services and loans for their customers.The restructuring plan is being carried out with the aim to uplift the agriculture and rural sector by raising the productivity, streamlining the institutional credit and increasing income generating capacity of the farming community. The ZTBL was incorporated as the public limited company on 14th December, 2002 through repeal of the ADB Ordinance of 1961. The ZTBL provides financial and technological services to the agriculturalist at their doorstep for modernization of agriculture sector in Pakistan.The main purpose of the ZTBL is to provide sustainable rural finance and services particularly to small farmers and low-income households to strengthen the rural and agricultural 16 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report sector, mitigate poverty, capital ma rket and investment activities. The core values of the ZTBL is the professional integrety, teamwork, customer satisfaction and loyalty. The ZTBL has a one subsidiary which is known as the Kissan Support Services Limited. The bank can charge 9% interest.The auhorized capital of the ZTBL is Rs. 25,000,000,000. This amount is dividend into Rs. 2,500,000,000 ordinary shares & the price of each shares is ten rupees. The total number of shares of the ZTBL is Rs. 1,186,961,000 and paid up capital is Rs. 11,869,612,000 of the ZTBL. The ZTBL has one chairman, one president and ten directors. The tatal number of employees is 5,326, while 982 employees is provided by the KSSL. The ZTBL make investment in some listed companies such as Nestle Milkpak Limited, Uqab Breeding Farm Limited, Mubarik Dairies Limited & Dadabohy Agriculture Leasing Limited in order to generate profit. . 1 HISTORY OF ZTBL It was considered after independence of Pakistan that the existing institutional sources of credit, such as, taccavi and cooperatives, were insufficiently meeting the credit needs of farmers. Therefore the need for establishment of a third source of agricultural credit was essentially percolated so as to fulfil the credit requirements of farmers not only for production but even for the development purposes. Consequently, the ADFC was brought into existence in 1952 for the purpose of expanding financial facilities and promoting the development and modernization of agriculture in the Pakistan.Subsequently in 1957, the ABP was established that can provide both short term loan for production and long term loan for development. The ADFC & ABP were merged together as the ADPB in 18th February 1961. The ADPB is the main credit supplier to the agriculture sector in the country. According to the â€Å"Companies Ordinance 1984†, the ZTBL was incorporated as a the public limited company on 23th October, 2002. The ZTBL is governed by Memorandum and Article of Association and registered with the SECP under â€Å"Companies Ordinance 1984†.Consequently, on 18th November, 2002, all the assets, contracts, 17 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report liabilities, proceedings and undertakings of the ADBP were transferred and vested in the ZTBL on 14th December, 2002 by the Federal Government. 3. 2 CORPORATEAVISION To develop and operate the ZTBL as a commercially viable bank with focus on rural and agriculture finance and to serve the needs of community, by delivering financial products and services. farming 3. 3 CORPORATE MISSIONTo play an effective role in the promotion of economic growth, by enhancing the availability of credit to the agriculture sector, through reliable access to sustainable financing, special lending programs, technical assistance, products & services, and to promote career development opportunities for increasing professionalism, technical proficienc ies & trainings of employees. 3. 4 ? CORPORATE OBJECTIVES To assist rural community, particularly the small farmers, in raising their productivity and income levels through timely delivery of credit, advisory and ancillary services.To build the image of the ZTBL as a proactive, client friendly, financially & operationally sustainable with indigenous product deployment. ? ? To establish and provide backward and forward linkages to strengthen the agriculture and industrial sector. ? The ZTBL can engage in public and private, wholesale and retail partnership to deepen outreach and reduce operating cost. The ZTBL act as rural commercial bank to mobilize rural capital formation and to commercialize the agriculture sector by delivering the true value of credit to the client. ? 18 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 5 RESTRCTURING PLAN OF ZTBL The restructuring means activity involving expan sion or contraction of a organization’s operations or changes in its assets and financial structure. The restructuring plan of the ZTBL covering the following factors; 1. 2. 3. Governance: The ZTBL establish an environment that facilitates good governance and accountability. Systems: The ZTBL modernize operations through use of technology, networking and communication tools. Business Processes: The streamline products and delivery systems of the ZTBL are to educe transaction costs, simplify operations, and increase outreach. 4. 5. 6. Products and Services: The ZTBL introduce products and services that are financially and economically viable. Human Resource Development: The ZTBL can improve standards and skills of staff & management and strengthen training capacity. Information Technology: The ZTBL establish new hardware and software platform to support the MIS, accounting system including forensic accounting, and risk management functions. 3. 6 BOARD OF DIRECTORS The ZTBL has one chairman, one president and ten directors. The seven eetings of the board are held during each year. The main resposibility of the BOD is to establish and maintain a system of internal control, prepare and present the financial statements with aproved accounting standard and requirement of the ‘’Banking Companies Ordinance, 1962’’ and the â€Å"Companies Ordinance 1984†. The new corporate structure redefines the bank's status as the Public Limited Company registered under â€Å"Companies Ordinance 1984†, with an independent BOD which 19 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd.Chapter 1 Introduction to Report aims at ensuring good governance, autonomy, delivering high quality. The list of the BOD is given as under; â€Å"List of Board of Director† 3. 7 COMMIITTEES & ORGANIZATION STRUCTURE OF ZTBL The overall management, functions, meetings of the ZTBL is control by two com mittees known as â€Å"Board & Management Committees†. The sub-committees of these two committees is explain as under; 3. 7. 1 Board Committees 1. Audit Committee: This committee has one chairman, four members that are the directors of the ZTBL and one secretary from the Audit Department.The designation of secretary is the â€Å"Chief Internal Auditor† of Audit Department. 2. Human Resource Management (HRM) Committee: This committee has one chairman & president of the ZTBL, four members that are the directors of the ZTBL and one secretary from the HRM Department. The designation of secretary is the â€Å"Head† of the HRM Department. 3. Risk Management Committee: This committee has one chairman & three members that are the directors of the ZTBL. But one member designation is 20 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd.Chapter 1 Introduction to Report the risk manager. But in risk management committee, the company secretary act as member and secretary as well. 4. Information Technology(IT) Committee: This committee has one convener & two members that are the directors of the ZTBL. One member is from IT Department & his designation is the Chief information officer. While one secretary (Head) of IT Department. 3. 7. 2 Management Committees 1. Assets Liabilities Management Committees: This committee has one convener (CEO) & three members. The designation of the first member is the SEVP of Operation Department.The designation of the second member is the risk manger. But the third member (Chief Financial Officer) act as member and secretary as well. 2. Executive Coordination Committee: This committee has one convener (CEO), one secretary (Compliance Officer) & three members. The designation of the first member is the SEVP. The designation of the second member is the EVP. The designation of third member is the risk manger. 3. 7. 3 Organization Structure of ZTBL: The organizational structur e of the ZTBL is shown in below diagram; 21 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 8 ZONAL OFFICE AND BRANCHES In public sector, the ZTBL is largest financial development institution with a wide network of 25 zonal offices and 342 branches in the Pakistan. The network of the ZTBL Head Office is given as under; 3. 9 RANKING OF STAFF MEMBERS 22 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report The ranking of staff members in order of seniority in the ZTBL is given as under; 23 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 10 SUBSIDRAY The ZTBL has one subsidiary which is known as the â€Å"Kissan Support Services Limited†. It was incorporated as owned subsidiary of the ZTBL that function independently effective from 1st January 2006. The KSSL is a separate and distinct legal entity that is controlled by the ZTBL. The KSSL has an authorized capital of Rs. 100 million. Its aim is to provide a support to the management of the ZTBL such as to focus on core banking business and assign non-core activities.The KSSL operates under the Memorandum and Article of Association. The KSSL also provide support staff and services to the ZTBL in the following areas; I. The KSSL has recruited and developed support staff of following table categories in ZTBL, Head Office as will as in field offices; No. of Employees S. No. Category of Employees Provided By KSSL 01 02 03 04 05 06 07 08 09 Darbans and Armed Guards Drivers Naib Qasids Mali / Beldars Typists, Assistants & Senior Assistants Security Supervisor Sweepers Players Others Total 526 291 54 25 41 03 07 20 15 982 ll.Besides manpower support a service, the KSSL has also provided following support services to the ZTBL; ? Provide mail management, repairing, maintenance & photographing services to ZTBL ? Recruitment and provision of staff ? Provides farms and the ZTBL Staff College. 24 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? Provide security services not only to the ZTBL Head Office but also to branches and zonal offices. CHAPTER 4 â€Å"PRODUCTS & SERVICES OF ZTBL† 4. 0 INTRODUCTIONThe ZTBL has provided many products and services for their customers. The product and services of the ZTBL can raise the living standard of rural areas and develop the agriculture sectors of a country as well. The Pakistan is an agriculture country and the products and services of the ZTBL plays very important role in increasing the GDP and accelerates economic growth. For this purpose, the ZTBL provides many facilities for their customers, such as provides schemes and loans, obviously help the customers to invest money in their businesses, to get maximum p rofit from it and to pay low interest rates. . 1 SCHEMES OF ZTBL The ZTBL provides various schemes for customers, in order to strengthen the rural and agricultural sector of econnomy, mitigate poverty and accelarte groth. The Schemes of the ZTBL is which is briefly explains as under ; 4. 1. 1 Sairab Pakistan Scheme: The ZTBL can raise the irrigated area for the purpose to accelerate rate economic growth and to facilitate the farmers. The ZTBL has assigned the collaboration agreement with the KSB Pumps Company Limited under the Sairab Pakistani Scheme.The ZTBL will provide loans to the farmers for installation of tube wells and turbines whereas KSB Pumps Company Limited will provide quality pumps, turbines, equipments to borrowers for efficient pumping of waters. The water can plays vital role to improve per acre yield. Out of total 31 million hectors area of the Pakistan, 22 million hectors is cultivated while 9 million 25 Institute of Management Sciences, Kohat University of Scienc e & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report hectors is not cultivated & waste mainly due to non-availability of water.More over increase in water supply being a key input is required to raise cropping intensity and hence the income of the farmer. Since inception the ZTBL financed over 143000 tube wells amounting to Rs. 15 billion. The KSB Pumps Company will provide quality machinery and equipment for efficient pumping of water. The company shall also provide after sale service including replacement of parts and availability of spares through its network of dealers despite technological advancements and rapid growth of industrial sector, agriculture is still the back bone of the Pakistan's economy.It contributes 22% towards the GDP and employs nearly 45% of country's labor force. It provides raw material for preparation of industrial products. So it has both pulled & pushes effect on the economy. 4. 1. 2 Supervised Agriculture Credit Scheme: Under this s cheme agriculture loans are given for short, medium and long term loans up to Rs. 1 million per borrower. The loans are sanctioned for fats, livestock, orchard, tractor, agricultural machinery, tube well and irrigation facilities.Under the scheme besides provision of credit, information is to the farmers for planning the farm, production, guidance for implementation of the scheme, marketing and repayment of loans. 4. 1. 3 White Revolution Scheme: In order to modernize the dairy farming for increasing milk supply, mitigate poverty in Pakistan, and improving the living standards of the rural areas in Pakistan for the purpose to achieve growth and development in agriculture sector of Pakistan, the ZTBL may start the â€Å"Strategic Partnership† agreement with the Pakistan Development Diary Company (PDDC) and the Nestle Pakistan Limited (NPL) under the white revolution scheme.Under this participatory approach, the diary sector would be modernized with a view to increase milk supp ly, mitigate poverty and improve the living standard of the rural population. The ZTBL has earmarked funds to the tune of Rs. 5000 millions for financing of 50,000 animals (buffaloes and imported cows) during the five years period 2007 to 2011. The 26 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report PDDC will also help the ZTBL in the selection of clients and processing of loan cases.Initially the schemes will be for modernization of 5000 farmers during 5 years period involving Rs. 700 million. Under the scheme 1000 farms would be covered on yearly basis. The modernization of dairy farm will be carried out through financing milk cooling tank, generator, voltage stabilizer, hot water geezer, water pump, cooling pad and other dairy equipment. There would be maximum limit of loan of Rs. 1 million per borrower party. The PDDC would bear the entire amount of mark-up charged in the loan cases & provided t he 50% of principal part of loan is repaid in time by the borrower.The remaining 50% amount of principal along with the amount of mark-up would be paid by the PDDC. The Nestle Pakistan Limited would help to select and identify good clients for the ZTBL to improve quality breed of foreign and local dairy animals. The NPL can provide technical guidance to the farmers through nestle veterinary doctors. The NPL would purchase milk through its network and make weekly payments of milk sale to the ZTBL for the adjustment of loan. 4. 1. 4 Micro Credit Scheme: This Scheme has been launched since 15th July, 2000 for the uplift of rural poor.The landless poor such as; tillers, harries and small land owners having land not exceeding 2 acres may avail loan under Micro Credit Scheme. It is operational in all branches of the ZTBL through all the Mobile Credit Officers. Both, men and women may obtain loans under the scheme as an individual or as a member of group of 5-10 members. The minimum credit limit is Rs. 5,000 while maximum credit limit is Rs. 25,000. One hundred and thirty six income generating activities or cottage industry items have been identified for lending under the scheme.The loan may be advanced against one surety with 50% solvency of the assessed value of property owned by the guarantor or security of tangible property. Being small loans involving high cost 18% per annum mark-up is charged, whereas 2% rebate is given on timely repayment. All loans under these Schemes are recoverable within 18 months after disbursement of loan. 27 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 4. 1. 5 Zarkhaiz Scheme (One Window Operation): For timely and conveniently rovision of credit to purchase inputs, loans is provided to the borrowers under this scheme being conducted twice a week during Rabi & Kharif seasons. All the related departments such as revenue, agriculture, post office†¦. etc. attend the focal points which are established at convenient places. The farmers get their pass books prepared and loan applications processed on the same day whereas sanction payments are made within three days at branch. For Rabi crops, one window operation from October to January and for Kharif crops from April to September each year which is extendable as per requirement of particular area. 4. . 6 Sada Bahar Scheme: For providing timely input loans for crops and working capital for poultry and fishery etc, the ZTBL has launched a Sada Bahar Scheme. This scheme is also known as â€Å"Revolving Finance Scheme†. The assessment for inputs requirements for the whole year is made at the time of first application. The amount so assessed is treated as revolving limit provided it is within the security limit. The managers are authorized to sanction such loan limits up to Rs. 5 Lake. The salient features of the scheme are given as under: 1. 2. 3. 4. Revolving Credit Limit is fixed to cater production credit and ancillary equirements of the farmers during one year period. The borrowers can draw the credit in lump sum or in installments according to his requirement. The borrowers can repay in lump sum or in installments during the year when his cash position allows him. The Pass Book containing transactions in his account is supplied to every borrower free of cost. 4. 1. 7 Tea Financing Scheme: In order to increase the tea cultivation in Mansehra, Swat, Mutta and Dir in Malakand Division, the tea financing scheme has been introduced which would not only save the hard earned foreign exchange but would 8 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report also help to improve the socio-economic condition and living standard of the inhabitants of the area. The salient features of the scheme are given as under: 1. 2. The maximum credit ceiling of Rs. 60,000 per acre has been fi xed. All the farmers owing land up to five acres are eligible to avail loans. 3. The amount of credit will be given in three installments; the first year installment is Rs. 30,000, second year installment is Rs. 5,000 and installment is year Rs. 15,000. 4. The credit would be repayable within 11 years with 6 years grace period with prescribed markup of 9% per annum. third 4. 2 LOANS OF ZTBL The ZTBL provides loans for the development and growth of rural areas and uplift of farm activities. The loans of ZTBL are briefly explained as under; 4. 2. 1 Production Loans: These loans are given to farmers for seed, fertilizer, pesticides, labor charges†¦etc. to grow crops and vegetables including working capital for poultry, dairy, orchard and fishery and are recoverable within one and half year.The amount of disbursement of production loan, at the end of December 31, is 50,222 million for overall four provinces. The example of production loans items are given as under; 1. 2. 3. 4. 5. 6 . 7. Seeds, fertilizers and fuel Pesticides, insecticides and herbicides manual sprayers Poultry feed, chicks and medicines Hire charges of farm power Water charges and electric charges for tube well Production loan for growth of mushroom Hired labor, water rates & fuel wood for tobacco curing 29 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report . 2. 2 Development Loans: The loans for purchase of items like farm machinery, tractors, irrigation, land development, orchard, green houses, dairy, poultry, fishery, livestock, farming†¦.. etc are recoverable up to one to eight years. The amount of disbursement of development loan is 5,690 million at the end of 2007, for overall four provinces. However, the provinces wise disbursement of loans & its percentages at end of 31st December, 2007 is given as under; S. No. 1. 2. 3. 4. Provinces Panjab Sindh NWFP Balochistan Disbursement of Loans ( Rupees) 44,3 27,000,000 7,384,000,000 3,802,000,000 99,000,000 age 79. 50% 13. 20 6. 80 0. 20 Moreover, the term wise disbursement of loans of bank is on short, medium and long term basis. I. The short term loans are also called production loans having maturity period is one year. These loans are given to farmers for seed, fertilizer, pesticides, labor charges†¦etc. to grow crops and vegetables. These loans are recoverable in lump sum commencing after the harvest or marketing of respective crops. II. Medium term loans are for development and advance purposes the examples of these loans are dairy farming and livestock.The installments of these loans are made on monthly, biannually and annually basis and the recovery or maturity period is 5 years. III. The long term loans are for tractor, agricultural machinery, poultry farming, and orchard. The installments of these loans are made on monthly, biannually and yearly basis and the maturity period is 8 years and above. â€Å"Summary of Term Wis e Disbursement of Loans† S. No. 1. 2. 3. Term wise Disbursement of Loans Short Term Loan (Production Loans) Medium Term Loan (Development Loans) Long Term Loan (Development Loans ) Maturity 2months 5 years 8 years %age 89. 80% 3. 40 6. 80 30 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 4. 3 RECOVERY PROCEDURE OF LOAN The recovery procedure of the ZTBL loan is to carried and taken by three steps such as recovery schedule, issuance of notice and legal action which is briefly explain as under; 4. 3. 1 Recovery Schedule: The recovery schedule in each loan case as per terms of sanction of loan is fixed and communicated to the borrowers after disbursement of loan.In case of default or failure in repayment of any installment on due date the mark-up shall continue to be charged and last installment due to this may differ from the amount of installments fixed at the time of disbursement. 4. 3. 2 Is suance of Notice: The ZTBL can issue notice for recovery of loan which is known as â€Å"Demand Notice†. It is issued before the due date of every installment. A legal notice is issued one month after the due date informing the borrower that if the amount is not repaid within next one month, further legal action will be taken to recover the dues. 4. 3. Legal Action: The legal action can be initiated against the defaulter if loan is not repaid even after expiry of legal notice period. Where the court in bank's favor has decreed a case, account is to be settled by recovery of amount from the auction of the mortgaged property. The bank may purchase the mortgaged property if considered feasible to dispose it off later on through auction or in any manner deemed fit for getting the best price. The bank may dispose off the mortgaged properties of defaulters for satisfaction of its dues with out intervention of courts under â€Å"Financial Institutions Ordinance 2001†. 1 Insti tute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 5 â€Å"FINANCE & ACCOUNTS DIVISION† 5. 0 INTRODUCTION OF THE FINANCE & ACCOUNTS DIVISION The Finance and Accounts Division of the ZTBL is responsible for handling the financial affairs and keeping the records of all the transactions, preparation of accounts, financial statements and budgets and to manage, distribute and reconcile funds of all zonal offices and branches of the ZTBL.Moreover this division acts as the backbone for the bank, in order to strengthen the rural and agricultural sector of Paksitan, to manage funds, mitigate poverty, capital market and investment activities. The main aim and responsibility of this division is to make policies, planning, mobilization and administration of the bank's financial resources such as products and services. This division provides schemes and loans for small and large farmers. By 32 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report etting loans and register with schemes, the farmers can invest money in their businesses and to get maximum profit from it and to pay low interest rates. This division manages the bank’s financial relations with the objectives of providing loans to borrowers. The ZTBL lends money to the individuals or corporations for consumption or investment and charge interest on the loans. But besides this, finance is the science that deals with the funds management such as saving and lending money while account is a record of financial transactions for an asset or individual.In other words, an account is an arrangement between a buyer and a seller in which payments are to be made in future. In short, this division can a gain a tremendous importance over the other division in the ZTBL, through its functions and truly be called as the backbone for the bank, in order t o manage funds, mitigate poverty and increase the living standard of people of rural ares. 5. 1 FUNNCTIONS OF FINANCE & ACCOUNTS DIVISION This division mainly deals with concept of time, money and risk and how they are interrelated. It also deals with how money is budgeted.However, finance works most basically through individuals and business organizations depositing money in a bank. The main functions of the FAD is given as under; ? To providing proactive financial policy, timely strategic financial planning and risk management. ? ? To managing the bank’s assets and liability portfolio. To prepare, prompt and accurate financial reporting and preparing audited financial statements for the bank's annual report. ? To overseeing internal controls in the processing of financial transactions accounts, budgets, and credit of the bank. To reconcile funds of all zonal offices and branches of the ZTBL. 33 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To administer, monitor and control the bank’s loan and portfolios, including management and disbursement of loans. To manage the cash inflows and out flows. To maintain a books of accounts. To coordinate and facilitate a business planning, budgeting and to formulate the budgeting estimates of revenue and capital expenditure. To manage and rectify the accounts of zonal offices and braches.To consolidate all the financial statements of zonal offices and braches, in order to make financial decisions. To prepare quarterly, semiannually and annual financial statements and its agenda for presentation to the Audit Committee and the BOD & also to prepare annual capital adequacy ratio for certification by external auditors This division ensuring that all financial obligations are met and collections are made. ? ? ? ? ? ? ? 5. 2 CLASSIFICATION OF FINANCE & ACCOUNTS DIVISION In order to classify the finance and accounts division of ZTBL, there are four epartments, which plays very important role in financial affairs and keeping the records of all the transaction, preparation of accounts, financial statements, budgets and to manage, distribute and to reconcile funds of all zonal offices and branches of the ZTBL Heads Office. The four departments & their sub unit of the FAD are given as under; 1. Central Accounts Department (CAD) ? Policy Unit ? Accounts Unit ? Tax Unit 34 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? Fixed Asset Unit (FAU) ?Pre-payment Verification Unit (PVU) 2. Head Office Accounts Department (HOAD) ? Payroll Unit ? Fund Unit ? Payment unit ? Intra Branch Transaction (Reconcilitation) Unit (IBTU) 3. Regulatory Reporting Department (RRD) ? Regulatory & Internal Reporting Unit (RIRU) ? Financial management Information Unit (FMISU) 4. Budget & Fund Reconciliation Department (BFRD) ? Budget Planning Unit ? B udget Analysis Unit ? Treasury Unit ? Fund Reconciliation Unit (FRU) 5. 3 HIERARCHY OF FINANCE & ACCOUNTS DIVISION 35 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 6 â€Å"CENTARL ACCOUNTS DEPARTMENT† 6. 0 INTRODUCTION OF CAD The CAD is abbreviated to Central Accounts Department. There are many accounting policies & procedures used in the CAD, In order to present the true financial position of he bank in financial statements, the accountants formulate the 36 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report accounting policies & procedures. This department maintains the actual or real accounts of the ZTBL.In this department, I was attached actually to maintain the real accounts which are assets and liabilities. They are responsible for both kinds of assets fixed and liquid assets and to maintain the depreciation accounts for all those assets acquired by the bank. In this department the balance sheet and profit and loss account is also prepared for financial year, to get the image in sense of profitability or loss and to make financial decisions. 6. 1 ? OBJECTIVES OF CAD Formulation & maintenance of the accounting policies & procedures with applicable accounting standards which ensure dissemination & implementation across the bank. Preparation of financial statements as per requirement of statue and to ensure the proper accounting of assets, liabilities, owner’s equity, income, revenues and expenses. 6. 2 ? FUNCTIONS OF CAD To issue the instructions relating to accounting policies & procedures and allocation of specimen signature numbers to the authorized signatories of the branches & maintenance of signature booklet. To notify the schedule of bank charges. To maintaining & updating of chart of accounts for recording of financial transactions. To prepare the periodic fina ncial statements of the bank & to deal with all related matters.To Issue the guidelines and instructions regarding periodicals closing of accounts and deductions of tax at source. ? ? ? ? 37 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To deal with all corporate tax matter & liaison with tax department, tax advisors, consultants†¦. etc The compilation of fixed assets schedule of the Head Office departments & branches. Follow up and collection of fixed assets schedule along with supporting documents from the ZTBL Head Office departments, zonal offices & branches.To coordinate with internal & external auditors and the SBP inspection team and to arrange credit rating of the bank. To conduct prepayment verification of sanctions pertaining to the HOAD. To perform administrative functions for the department such as, sanction of leaves & approvals for tour programs & travel allowance ? ? ? ? ? 6 . 1. 3 6. 1. 3. 1 ? UNITS OF CENTRAL ACCOUNTS DEPARTMENT Policy Unit: To device accounting procedure regarding accounting in the Head Office and branches & to circulate revision of mark-up or return rate for compliance by the branches.To deal with management latter & executive summary. To coordinate with external auditors & to arrange payments to external auditor’s bills. To arrange compliance of internal & external audit observation relating to the accounting matters of the ZTBL Head Office, zonal offices and branches. To coordinate with other departments in the Head Office on policy matters. To maintains personal files of the employees, deals with their leaves & other administrative matters, such as policy matters relating to the operation of accounts. ? ? ? ? ? 38 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To update the specimen signatures booklet for use of authorized signatories i n the ZTBL Head Office, zonal offices & branches. To prepare bank charges schedule & there circulation among branches and submission to the SBP on half yearly basis. To allocate new GLH for accounting purpose and issue instructions those are relevant to the books of accounts. To provide guidelines to the zonal offices and branches regarding rectification, settlement of accounting errors, audit observation and adjustment of suspense account.To arrange & coordinate with credit rating of the bank & provide information regarding credit rating of the bank. ? ? ? ? 6. 1. 3. 2 ? Accounts Units: To coordinate with concerned departments of is division for timely production of statement of affairs. To arrange compilation and merger of statement of affairs and it is also provide to auditors for auditing purposes. TO compile balances under relevant group of heads from trial balances for preparation of financial statements. To prepare list of abnormal entries & balances for rectification.To deal with all matters rel