Monetary Policy, Fiscal Policy, Business Cycles, and Economic Growth Assignment

Financial Policy, Fiscal Policy, Business Cycles, and Economic Growth - Assignment Example Proprietors of global organizations in Malawi will get diminished profits. Some global corporations’ workers in Malawi will either be laid-off or get lower pay rates (Hansen, 2013). 6.b). In the event that the leader of Malawi forces a compulsory the lowest pay permitted by law of $5.00 every hour, laborers in global organizations will get better compensation. Thus, the degree of destitution will diminish in the nation. Worldwide partnerships will bring about more expense particularly compensation costs. Because of greater expenses benefits for the organizations will decrease in this manner investors will get lower profits. Worldwide organizations may decrease the quantity of workers to diminish the pay rates costs they bring about (Hansen, 2013). 7. Western states like the United States and United Kingdom resort to shortfall going through by acquiring cash to animate monetary development or recuperation in the midst of financial downturns. The primary weakness with shortfall spending is that it prompts loan fees. High-loan costs decrease the capacity to get. High-loan costs demoralize business visionaries to contribute. Thus, low venture rates imply that the creation limit of a nation is diminished the general yield of the nation diminishes consequently. Decrease in the yield of a nation lessens the pace of financial development in a nation. Deficiency spending implies that the legislature spends more than the private area. States will in general use assets wastefully. So these activities may prompt squandered assets. Deficiency spending and expanded getting builds an economy’s expansion rate. Expanding swelling rate decreases the estimation of a money and unfavorably influences its intensity with different monetary st andards. Swelling will likewise decrease the measure of reserve funds (Hansen, 2013). 8. Listening to Laurence Kotlikoff of Boston University, I was keen on the contention he presented with respect to the government’s disguise of its obligation commitments. Kotlikoff brought up that United

Law and Compliance Issues

Question: Investigate the issues related with law and consistence that are connected with the business that is being controlled by the family in Sydney. Answer: In this exploration paper, an endeavor has been made to investigate the issues related with law and consistence that are connected with the business that is being controlled by the family in Sydney. In such manner, it must be referenced that a portion of the regions of law with respect to which consistence is essential by the speculation business incorporate property law, the assurance of its licensed innovation, the impact of shopper security enactment. Simultaneously, the business is additionally required to conform to the wellbeing and security enactment just as the work law and the correspondence enactment (Vickery and Flood 2009). Thusly, the café is being controlled by the family in Sydney and they need to consider it the Great Catch!. In this unique circumstance, the law gives that the name of the café ought to be enlisted by the gatherings with the ASIC. The lawful position is that the name of the business hosts to be enrolled by the gatherings in the event that they need t o maintain the business as a sole dealer or as an organization. The outcome is that in such a case, the family is required to enroll the name of the café with ASIC. Yet, this necessity isn't appropriate on the off chance that it hosts been chosen by the gatherings that the name of the business will be continued by the primary name and the last name of the proprietor of the business or an accomplice. For this situation, it isn't necessitated that the name of the business ought to be enlisted with ASIC. Along these lines if the proprietor of the organizations David Smith, and the name of the business will be David Smith vehicle wash, it isn't important that the name ought to be enrolled. Then again, if the name of the organizations David's Bergers, it is basic that it ought to be enlisted with ASIC. The café business is likewise required to conform to the property law and the duty law. For this situation, the eatery exchange needs to conform to the arrangements of GST and PAYG. Another applicable issue is that the café business is being directed as a sole broker/organization, it is noteworthy that the gatherings ought to make a composed agreement, before it gets usable and begins making money related responsibilities. The consistence of property law is likewise essential for this situation (Hinchy and Mcdermott, 2007). For instance, the family will be running the café as indicated by the Retail Shop Lease Act, 1994 and in this way, the necessities that have been recommended by this enactment ought to be consented to. It is additionally important that before marking the rent by the gatherings, they ought to appropriately comprehend the terms and states of the rent. Along these lines, the gatherings will get mindful of the commitments that have been forced on them by the rent. So also if an independent venture is being finished by the gatherings, certain different prerequisites might be recommended by the property law. For instance, limitations may have been set by the nearby gathering on the quantity of people that can work at the premises. Along these lines, the café proprietors ought to know about the prerequisites that have been endorsed by the property law. The assurance of licensed innovation is another field of consistence that is significant for the gatherings for this situation. They should put forth attempts to secure their protected innovation and this will permit legitimate privilege to the family over their licensed innovation. So as to secure the protected innovation related with the café business, the family can utilize trademarks, plans and licenses. It is additionally significant that the business normally audits and at whatever point required, reestablishes the security of its licensed innovation. For instance, it has been given by the licensed innovation law that the trademark should be recharged after the time of 10 years. Anyway it is fitting that the protected innovation law specialists ought to be counseled on the grounds that it is a mind boggling issue. Customer security enactment additionally significantly affects the café business in this manner the fields of consistence likewise incorporate the purchaser assurance enactment (Bank of NSW v The Commonwealth., 1948). In such manner the applicable enactment is Australian Consumer Law that is a piece of Competition and Consumer Act, 2010. The ACL gives an across the country law and it has been instituted instead of the Trade Practices Act, 1974. Be that as it may, this enactment has been supplanted by the new Australian Consumer Law. The ACL is relevant in all States and Territories of Australia and in this manner it gives similar rights to the shoppers all through Australia. Similarly, similar commitments have been forced on the organizations in regards to purchaser insurance in Australia. A portion of the fundamental highlights of the ACL is that the out of line exchange rehearses have been disallowed by it. The ACL were additionally gives the general standard that must be trailed by the organizations. Similarly, the organizations to customer exchanges are controlled by the ACL and simultaneously, legal assurances have likewise been given by the ACL to the shoppers (Tomasic and Bottomely, 1995). The legal assurances can't be rejected by the gatherings with the assistance of the conditions of the agreement. The ACL likewise contains the arrangements related with the wellbeing of the items and administrations that are given by the organizations. Because of the critical arrangements related with him to assurance and furthermore taking into account the punishments and directives that are relevant under the ACL, it is significant that the organizations mindful of its commitments related purchaser insurances that have been endorsed by the ACL. For this situation, the family needs to name the business as the Great Catch! As for this situation, the café won't be named after the name of the family name of its proprietors, it is necessitated that this name ought to be enrolled. Along these lines, the family that possesses the café business in Sydney, is likewise required to consider the other legitimate necessities that may apply. On the off chance that the family neglects to follow the legitimate necessities that are relevant for this situation, they may need to take care of genuine punishments. It has been obviously settled in the current research that there are a few laws and guidelines that apply to the café business. References Vickery R. what's more, Flood, M. A., 2009, Australian Business Law: Compliance and Practice, Pearson Education Australia Hinchy R. what's more, Mcdermott, P. 2007, Fundamental organization enactment, altered, Sir Gordon Borrie, QC, LLM Commercial law sixth release Tomasic R. what's more, Bottomely, S 1995, Corporations Law in Australia, Australia: The Federation Press.

What an Alcohol Use Disorder Diagnosis Means

What an Alcohol Use Disorder Diagnosis Means Addiction Alcohol Use Print What an Alcohol Use Disorder Diagnosis Means By Buddy T facebook twitter Buddy T is an anonymous writer and founding member of the Online Al-Anon Outreach Committee with decades of experience writing about alcoholism. Learn about our editorial policy Buddy T Medically reviewed by Medically reviewed by Steven Gans, MD on August 05, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on September 27, 2019 Jack Andersen / Getty Images More in Addiction Alcohol Use Binge Drinking Withdrawal and Relapse Children of Alcoholics Drunk Driving Addictive Behaviors Drug Use Nicotine Use Coping and Recovery There really is no official diagnosis of alcoholism. The condition that has long been termed alcoholism is technically called severe alcohol use disorder, according to the May 2013 publication of the 5th edition of the Diagnostic and Statistical Manual of Mental Disorders (DSMâ€"5) by the American Psychiatric Association.  With the DSM-5, if a person exhibits two or more symptoms from a list of 11 criteria, they are diagnosed as having an alcohol use disorder, with classifications of mild, moderate, and severe.?? The  DSM-IV (published in 1994) likewise had no alcoholism diagnosis but instead described two distinct disordersâ€"alcohol abuse and alcohol dependenceâ€"with specific criteria for each diagnosis.  The  DSM-5 combines those two disorders into one alcohol use disorder with sub-classifications of severity.?? Alcohol Use Disorder Severity When a person is diagnosed with alcohol use disorder, the severity of the condition is determined by the number of symptoms they have.Mild: 2-3 symptoms presentModerate: 4-5 symptoms presentSevere: 6 or more symptoms present Although there is a lot of overlap between the criteria (list of symptoms) used by the DSM-IV and the DSM-5, there are two significant changes. The DSM-5 eliminates having legal problems as a result of drinking as a criterion for diagnosis but adds craving for alcohol as a criterion. Symptoms Listed in DSM-5 The DSM-5 lists 11 symptoms that can be used to determine if someone has an alcohol use disorder.?? Alcohol is often taken in larger amounts or over a longer period than was intended.There is a persistent desire or unsuccessful efforts to cut down or control alcohol use.A great deal of time is spent in activities necessary to obtain alcohol, use alcohol, or recover from its effects.Craving, or a strong desire or urge to use alcohol.Recurrent alcohol use resulting in a failure to fulfill major role obligations at work, school, or home.Continued alcohol use despite having persistent or recurrent social or interpersonal problems caused or exacerbated by the effects of alcohol.Important social, occupational, or recreational activities are given up or reduced because of alcohol use.Recurrent alcohol use in situations in which it is physically hazardous.Alcohol use is continued despite knowledge of having a persistent or recurrent physical or psychological problem that is likely to have been caused or exacerbated by alcohol.Tolerance, as defined by either of the following: a) A need for markedly increased amounts of alcohol to achieve intoxication or desired effect, or b) A markedly diminished effect with continued use of the same amount of alcohol.Withdrawal, as manifested by either of the following: a) The characteristic withdrawal syndrome for alcohol b) Alcohol (or a closely related substance, such as a benzodiazepine) is taken to relieve or avoid withdrawal symptoms. The Different Types of Alcohol Use Disorders DSM-5 Draws Some Criticism The criteria of diagnosing alcohol use disorder came under some criticism because, under the DSM-5, any college student who occasionally engaged in binge drinking and admitting to craving a cold beer once in a while could be diagnosed with the disorder and labeled an alcoholic. Likewise, if tolerance and withdrawal symptoms are the only two necessary  factors required for someone to be diagnosed, then anyone drinking a couple of glasses of wine with dinner each evening will have measurable and noticeable tolerance and withdrawal. It won’t be present to the extent of causing significant dysfunction, but it will be quite evident on exam, according to Dr. Stuart Gitlow, addiction psychiatrist and past president of the American Society of Addiction Medicine. That person now has a mild alcohol use disorder.?? Why the DSM-5 Alcohol Use Disorder Diagnosis is Controversial

Eight High Performing Asian Economies The Four Tigers Essay

Eight high performing Asian economies (HPAEs)-Japan; the four tigers: Hong Kong, the Republic of Korea, Singapore, and Taiwan; and the three newly industrializing economies (NIEs) of South- east Asia, Indonesia, Malaysia, and Thailand have achieved tremendous economics growth in the last forty years of development, because of east asia has a remarkable record of high and sustainable economic growth between 1965 to 1990 its 23 economies grew faster than those of all other region. This achievement is attributable to seemingly miraculous growth in. Hong Kong is a small region of china ,whose area is 1,045km2 and it manage to increase the grown rate up to 6 percent per capita , while 1961 to 1966 , The freedom of the Hong Kong has†¦show more content†¦Evolving public- private forum was a technology centre , an incubator concept borrow from singapore and taiwan to generate business startups. The centre represents an intense and direct new governmental involvement in industrias policy. Hong Kong government had no formal strategy for its own IT Investment and adoption, and its still lacks a comprehensive information industry development policy as in singapore and taiwan. Until 1989 , the government data processing agency was reinvented as the information technology service division to stimulate strategic. The government has required all the department to purchase and install the IT. This had been apply to hospitaks, costoms control and shipping registry and land registration and this have expenditure on IT Services increased from HK 180 million in 1987 to HK 500 million in 1990. (Public Sector Diffusion) To develop and diffuse computer-aided design and automation technologies over the manufacturing sector slippage have motivated government to expend HK 120 Million between 1989-1992. After launched this software , the government have do a survey , and that show only 5.9 percent of the manufacturing sector(2894 companies of 48750) used the computer and only 2.3 percent used CAD . Therefore, the government starting to train the engineers application - specific integrated circuits (ASIC) design. Finally , is it considering whether to build IT technologyShow MoreRelatedThe Government ´s Role in the Success of Singapore Essay1445 Words   |  6 Pagesmacroeconomic stability as well as build long-term growth. To ensure macroeconomic stability, fiscal policy, which is the usage of government expenditures and taxes, and monetary policy, which is the changing of interest rates and quantity of money in the economy, and supply-side policies, that look into the strengthening the production cap abilities of companies, have to be implemented by the government. To build long-term economic growth, there has to be an increase in real GDP growth which is seen in anRead MoreAdvantages Of Industrial Policy From The Infant Industry1548 Words   |  7 Pagesglobal economy has evolved hugely since the end of the Second World War. The growth of previously failing countries has added to the complexity of the global markets and has resulted in winners and losers. The rise of Brazil, India and China through cheap labour and export orientated policy has shifted power away from the US and Eurozone, and has paved a way for developing economies to bridge the divide between the ‘global south and global north’. Most significantly, the Asian Tiger economies, consistingRead MoreEvolution of Human Resource Management7638 Words   |  31 Pageswe offer an overview of how human resource management in Asian countries and corporations is evolving in the face of rapid business growth and integration into the global economy and we describe how the arti cles in this Special Issue contribute to new knowledge and insights regarding key issues, challenges, and evolution in the field of HRM in Asia. Driven by the combined forces of rapid gross domestic product growth in many Asian economies and their further integration into the global business arenaRead MoreSummary : Tigress 10460 Words   |  42 PagesTigress redirects here. For other uses, see Tiger (disambiguation) and Tigress (disambiguation). 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Each key industry globalization driver affects the potential use of global strategy levers (global market participation, global products and services, global locationRead MoreBangladesh Capital Market Problems Prospects10444 Words   |  42 Pagesand Prospects. This report is submitted as the requirement to fulfill the course Financial Markets and Institutions (F-304). We are thankful to you as this report was helpful for us to know about the Capital market and its operations, why it is performing poorly and the possible remedies for this capital market collapse. This was a wonderful opportunity of widening our knowledge from the pages of our book to the field of practice. We hope that the report will meet the standard and will serveRead MoreConsumer Lifestyle in Singapore35714 Words   |  143 Pages  reached   S$3.3   billion,   up   by   2.2%   (in   real   terms)   from   the   S$3.1    billion recorded in 2010 and up significantly from S$2.7 billion in 2009. The growth rate of the import-reliant economy was affected by external factors, including the slowing economic growth in China, the sluggish growth of the US economy and fears about the impact of the eurozone crisis. These factors have also affected growth in 2012. Economists   at   the   Trade   Ministry   have   said   that   they   expect   Singapore’s   GDPRead MoreComment on How Changes in Macro and Market Environment Forces Impact on the Level of Competition in an Industry.18606 Words   |  75 PagesSocial/ Ecological / and the microenvironment (see Fig. 3.1). cultural physical The macroenvironment consists of a number of broad fo rces that aï ¬â‚¬ect not only the company but also the other actors in the microenvironment. Traditionally Technological four forces—political/legal, economic, social/cultural and technological—have been the focus of attention, with the result that the term PEST analysis has been used to describe macroenvironmental analysis. However, the growing importance of ecological/Read MoreRetailing Characteristics of Fast Food Stores and Their Impact on Customer Sales and Satisfaction29639 Words   |  119 Pagestoday’s environment that looks like the mid-1990s. The global economy has changed, consumer demand has shifted, and retailers’ operating systems today are infused with far more technology than was the case six years ago. Saturated home markets, fierce competition and restrictive legislation have relentlessly pushed major food retailers into the globalization mode. Since the mid-1990s, numerous governments have opened up their economies as well, to the free markets and foreign investment that hasRead MoreUnderstanding Marketing Management16709 Words   |  67 PagesEach year, U.S. companies market billions of fresh, canned, bagged, and frozen food products and millions of cars, refrigerators, televisions, machines, and other mainstays of a modern economy. 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Honora Kelly, Also, And Most Famously Known As, Jane Toppan

Honora Kelly, also, and most famously known as, Jane Toppan is one of America’s most famous serial killers. She was a woman who confessed to killing over thirty-three people, but experts say she killed around seventy more undocumented. She lived from the years 1857 to 1938. Honora’s mother died when she was very young from tuberculosis and her father was very abusive and known as the town’s alcoholic, he also was noted as a crack smoker. Her dad, Peter Kelley, died from being insane and supposedly sewed his eyelids shut when working as a tailor. The characteristics and actions of her farther will play a major role in Honora’s future as a serial killer (n.d, 2003) At age six, two years after her mother died, Honora’s father placed her and†¦show more content†¦She killed the mother, then the daughter, and finally the father and remaining daughter. When the remaining Davis’s caught on to what was happening they filled for toxicology of the one daughter, and found out she was poisoned. They then did toxicology on the others that were killed and it also came back positive for poison (Schechter 20003). Once Jane was arrested it took a year for her to confess to the murders. Jane even reportedly tried poisoning herself for sympathy. When it came time for trial, the jury found her not guilty by reason of insanity. In one news report they quote Jane saying â€Å" she never would have killed all these people if she had been married and had a happy family.† Jane was then sentenced for life at Taunton Insane Hospital, with multiple suicide attempts, till her early 80’s and died in the year 1938. What lead Jane to kill is still unknown, but researchers would say it was her childhood trauma and father’s neglect and abuse that truly created this famous American serial killer (Allen, Averill, Cook, 2005). Relation: In an article called â€Å"The Traits of A Serial Killer,† by Simon (2004), psychopaths are not â€Å"created† over night, but rather their behavior can be connected all the way to their childhood. What trauma a child experiences plays a major role in the rest of his or her life. A serial killer, most of the time,

Videodrome Movie Analysis Free Essays

Videodrome Videodrome, directed by David Cronenberg, is a movie setting in Toronto during the early 1980s depicting a television station attempting to broadcast a show of violence and torture named Videodrome. Max Renn, owner of a small-sized television station, learned about a Videodrome, which was broadcasted in Malaysia, just when he wanted a change to the program the station was showing. Max immediately gained interest to the new show and order to start pirating it as he believes that the show would gain popularity quickly. We will write a custom essay sample on Videodrome Movie Analysis or any similar topic only for you Order Now The late 1970s and early 1980s was the time when television gain popularity. It became a social norm to have a television in every room in the house. Television developed into a big part in everyday living, people could not fall asleep without the company of the television. The anxiety slowly rises as with the amount of television people were watching. This anxiety continued to grow as media technology advances. The society then begins to affiliate with videotape, videocassette, VCR, and etc. It almost got to the point when people would never seem to leave the house again. This movie well reflects the social anxiety of the time. After Max watches the footage of actual torture and murder, he began to see illusions of televisions coming to life. As part of the Videodrome project, he also sees himself as a videocassette recorder with hole in his body as a slot to insert video tape. His brain was controlled. The movie came to a conclusion and emphasis on the anxiety with the murder of Max by a television. With the assist of Videodrome, O’Blivion’s prophesy of television coming to life and takeover would come true. Videodrome is a lethal weapon designed by the government that would broadcast signals to give brain tumor in the viewer. The main purpose is to correct the fixation on softcore pornography and violence in the society, by eliminating those who are drawn in the world of videography. The intention was to let Max see Videodrome and broadcast to the public. However, the Videodrome project made no exception to Max as he, too, was brainwashed. Max would then go on to kill his colleagues. The death of Max could David Cronenberg reflected the social anxiety in form of a movie. The director is implying the disturbing effect of social disorder brought by the television and other media technology. The director exaggerated the negative contribution brought by the television and media technology for how it has impacted the social norms. It can be said that the director believed intense television viewer should be doomed for their ignorance of the society. The role of the government and its Videodrome project can be interpreted as a representation of what Cronenberg is doing by filming the movie in real life to make a statement of the false effect brought by the increasing popularity of television culture. How to cite Videodrome Movie Analysis, Papers

Analyses Of The Nanosonics Matter And Its Usage In The Auditing Field

Question: Discuss about the Analyses Of The Nanosonics Matter And Its Usage In The Auditing Field. Answer: Introduction Auditing standards for an auditor is like a holy book. All the ones involved in the auditing field have to obey the standards, Negligence and breach of any rule of the auditing standards will result in serious violation and strict actions. All the techniques and the policies that are required by an auditor to follow in order to carry an audit of the financial statements are inscribed in the auditing standards (Elder et. al, 2010). When a new auditor is hired then it is his duty to write to the outgoing auditor in order to gain knowledge about the audit he is going to carry on so to eliminate any sources of vulnerability against his professional career and his accolades. All the audit plans made should be clear, concise and infallible and should be in direct consideration with the points mentioned below. The plan shall include the following steps: The first work in the to-do-list involves interaction with the outgoing auditor which ensures that the company is fit to join and has no discrepancy in the previous financial statements. The second step to follow is that the incoming auditor writes a letter to the company management about his personal terms and conditions. Only upon approval by the management, the auditor is hired. This is a process to set up friendly relations with the company management as per the auditing standard 210. The auditing plan to be taken up is decided by both the auditor and the management with mutual agreement by both the sides (Fazal, 2013). Key Information: Gaining an understanding of the client As mentioned earlier, the auditor and the management have to agree upon some terms and conditions and also some plans which makes the deal valid. In the early stage of the auditing, the auditor thoroughly checks that the policies and the processes taken up by the company are suitable, in respect to the auditing standard 220. As the audit of the financial statements are carried on by the auditor, it is the duty of the appointment partner to see that all the policies are well-understood by the auditor and he works within it (Baldwin, 2010). The appointment partner must also see that the policies taken up by the company are positively used and applied by the auditor. The transparency of the financial statements should also be checked by the appointment partner. The compilation of the audit is done in consideration to the auditing standard 30. Paperwork presenting the auditing of the financial statements, troubles that can rise if the auditing papers are lost, and the copyright of the papers are some of the key points that the auditing plan should include from the starting. The auditor need to get familiar and must thorough the policies that the company is following only after which the auditing must be allowed to get on track (Gay Simnet, 2015). Along with the policies it is also important to understand the mode and types of transaction and the auditing environment of the company. It is important that all information regarding the nonessential, first priority and the supportive laws are made thorough top the auditor (Cappelleto, 2010). The choosing of the auditing process is a much later work. First it is the duty and responsibility that to have clear knowledge of the conditions of the company and if material risk has been detected then it has been dealt with the laws of governance and only after full satisfaction that the company is not a fraudulent one and there is no case of any misstatements on the part of the company the auditor may start the process of auditing for the company. Nanosonics Ltd In relation to the audit plan of Nanosonics, several approaches must be taken into account. The company is primarily an innovator in the prevention of infection and for such purpose, its automated and unique EPR high-level disinfection device allows it set a new care standard in ultrasound practices of probe disinfection (Nanosonics, 2017). The companys inherent risk is already high in nature owing to its volume of risky activities that can also cause damage to the third parties. Besides, the scale of operations of the company is also higher in nature that can result in possibilities of errors, misstatements, and frauds within the organizational framework. This is the reason why traceability is needed in documenting and monitoring equipment reprocessing. As an auditor, the records maintained by the company cannot be relied upon and therefore, proper vigilance is needed as well. The appointment letter to the auditor includes the wage that the auditor will be provided. The auditing process is accepted with a positive feeling by both the sides which proceeds to audit planning. Skilled work and processes in the field of auditing is appreciated but keeping the basic techniques intact is also very important, and one of the basic functions is to question the employees of the company. Questioning the employees would give the auditor a transparent view of the framework and the working of the company at a large. The second basic priority is to effectively choose the auditing staff to carry on the processes. This includes the allotment of work to skilled professionals, non-skilled and the average-skilled workers. This step should be taken very precisely and with utter correctness (Geoffrey et. al, 2016). A weighed mixture of professionals can prove to be a very positive set to carry on the auditing processes. The following and creation of the to-do-list is very important once the auditing is started. Auditors can start with cash and bank account audit which is guaranteed to involve only minor expenses. As per the over-the-year records, it is seen that the cash and bank transaction have a hike and are increasing on a constant basis. Because of the above case the cash and bank transitions must be carried more attentively along with the bank reconciliations. Skilled processes, extended time is required in the case of cash and bank transactions audit. Financial costs showed a positive decline in the year 2017. This was marked by the issuing of payoffs, receipts and interest incomes. All this can be summoned up to say that Nanosonics is coming up as a huge success in 2017. Increase in dividend distributions along with increase in audit samples has also been seen as in comparison to the previous year. Mass volume with large chunks is involved now which can increase the threats of manipulations. Licenses obtained from various government authorities, permits and quality control boards should be the put up at top priority with systematic checking system (Nanosonics, 2017). Attentive checking of the purchases is recommended so that no imperfect material is bought at an exaggerated price. The account involving the data of assets and stocks should be paid attention in order to eliminate any manipulation that can be done in order to set the profit image high which is practically a discrepancy and false statement (Hoffelder, 2012). Five areas where there are risks related to material misstatements The report will now discuss five sectors where there are severe chances of high material misstatements. The type of audit and its timing is determined by some factors like purchase of property, plant, and equipment. All this is grouped under material account segment. High investments are seen in the company with respect to its pattern of business which involves expansion priorities because of which the property could have been bought. Not a very high difference in seen in investment figures this year as in comparison to the year 2015 in which the investments were also high. This will make the investments a threat stricken sector, where fraud, misstatement, and indiscretion are probable (Kaplan, 2011). Manual analysis of the assets bought or sectors were money is invested is a very significant bustle. Checking must also be done in these cases: The land deeds, matched with bank statements. Bills of plants and equipment purchased Requisition lists New sites or showrooms opened, and New franchise or expansion deal. Charging of proper depreciation. Intercompany or Intra Company transfers to related parties. These are the key points that are needed to be kept under utter surveillance. Materiality level The companys materiality level of investments is as follows: The value of investments that are undertaken during the year 2016 amounts to 9.5 million dollars. Furthermore, the balance of total assets at the end of accounting year amounted to $9925000 Level of materiality= 0.005% Hence, materiality= $ (0.005% of 9925000) = $496.25 Furthermore, impairment of intangibles is another risk factor for Nanosonics. The reason behind this can be attributed to the fact that there was no impairment of the same in both 2017 and 2016. Based on the accounting policies and estimates, intangible assets are examined annually for impairment if changes in situations signify that they may be impaired. However, except for goodwill, only the non-financial assets suffered impairment during the period. The carrying values of liabilities and assets can be influenced by the risk of material adjustment through the accounting estimates on share-based payments, deferred taxes, provisions, and employee benefit liabilities (Lapsley, 2012). Secondly, the transactions that are associated with related parties are also prone to material misstatements because it signifies relationship betwixt two parties that can influence the real value of transaction taking place between them. This can result in affecting the financial situation of the company (Nanosonics, 2017). In relation to Nanosonics, there are various related party transactions that have taken place within its framework. Besides, it can also be witnessed that the directors of the company still owe the huge amount of resources to the related parties that is not a good sign. Therefore, for future audit plans, such transactions with the related parties must count as an area of material risk and hence, additional auditing processes must be implemented to ensure that the financial situation is not negatively affected (Livne, 2015). Therefore, the level of materiality can be calculated as follows: Sale of products to the related parties= $2055438 Interest charged= $1115 Purchases of goods from such related parties= $255861 The total value of transactions with the related parties = $2312414 Materiality level= 0.005% Hence, materiality= $(0.005% of 2312414) = $115.62 In relation to the aforesaid, powerful internal controls are required in such segment because there are higher possibilities of embezzlement of funds owing to the interest of directors in such transactions. Thirdly, it can be observed that there is also a risk of miscalculation of foreign currency risk in the financial statement of the company (Nanosonics, 2017). However, the same can be utilized for self-interest purposes and there is a higher chance of embezzlement of funds in such scenario. Moreover, this is the reason why an audit plan can play a key role in protecting the company from such fund embezzlement. The income of $771000 has increased from $11000 and the same can be attributed to net exchange foreign gains on foreign currency forward options and contracts. Furthermore, the other income of $780000 of the company consists of $771000 of only foreign exchange gains that are a dubious scenario (Nanosonics, 2017). Such risk of foreign currency risk can result in an economic risk for the company. Besides, the net foreign exchange losses of the company in 2017 were $1032000 in comparison to $541000. Such variations in the computation of foreign currencies clearly shed light on the fact there have been miscalculations in the foreign currency currencies (Manoharan, 2011). Thus, the level of materiality can be computed as follows: Total other income= $780000 Income from net foreign exchange gains= $771000 Level of materiality=0.005% Therefore, materiality= $0.005%*771000= $38.55 Fourthly, it can also be seen that the company exerts too much dependence upon its portfolio of intellectual property. Such portfolio is crucial for saving the existing revenue streams of the company and protecting its business in the development of new products and entry into new markets (Merchant, 2012). Such reliance on intellectual property portfolio may have some costs associated with it and the company has failed to reflect the number of such costs in its annual report. This is a risk of material misstatement in the companys accounts because it does not offer true financial information about the performance and affairs that may not satisfy the requirements of stakeholders in making relevant decisions (Manoharan, 2015) Fifthly, it is observable from the annual report of the company that its inventories have increased in comparison to the last year. The number of inventories in the year 2017 amounted to $7728000 whereas it reflected $6935000 in the year 2016. The question is that the sale of goods and services of the company have also increased in comparison to the last year, which clearly shows that the level of inventories must have declined and not increased in comparison to the last year. The figure of sales amounted to $67507000 in the year 2017 whereas it depicted $42796000 in the previous year. Hence, such inflated value of inventories clearly shed light on the fact that a material misstatement has occurred and the company may have done it for its economic interests (Nanosonics, 2017). In simple words, the overinflated value of inventories plays a key role in exaggerating the total value of the stored goods and materials. In most of the cases, such overstated inventories are the reasons for u nintentional errors or fraudulent manipulations(Messier et. al, 2005). Thus, the level of materiality can be computed as follows: Total inventories= $77280000 Income from sale of goods and services= $67507000 Level of materiality=0.005% Therefore, materiality= $0.005%*77280000= $3864 The aforesaid evaluations are essential for the survival of an organization. Besides, audit processes and their effectiveness ascertain the benefits of overall engagement of audit plan. Therefore, such strategy is necessary because it offers a path for the partners to determine the audit plan for the company (Roach, 2010). Nanosonics is a huge company with the maximum amount of resources spent in research and development for the purpose of preventing infections. Such operation is very crucial in the current working environment because functioning for the benefit of the public is all what the stakeholders need. Besides, audit planning will still be required if the scale of operations is not higher in nature (Nanosonics, 2017). Nevertheless, audit planning prior to engagement is a strategy that can be followed by the auditors to enhance its effectiveness. Moreover, it assists a company coping up with all the challenges that persist in the current working environment. Identification of what can go wrong Intangibles Therefore, these estimates must be ascertained carefully and for such purpose, the base of such estimates must be carefully verified. Nevertheless, since the impairment of goodwill is absent in the companys financial, its fluctuations cannot be determined properly. Transactions associated with related parties Moreover, higher the engagement of an authority in a transaction, riskier it becomes to find out the same. Therefore, even if maintenance of strong internal controls is implemented, it will become simpler for the company to turn around the situation for the purpose of its self-interest (Matthew, 2015). Hence, additional audit processes must be undertaken together with an enhanced check on the scale of such transactions Risk of miscalculation of foreign currency Such risk is a further dimension of risk that offshore investors must take into account. Even though the risk of foreign exchange specifically caters to the undesirable movements that may result in losses, it can be beneficial for the company to benefit from such situations with the significance for additional value and beyond that of a pre-existing stagnant investment (Matthew, 2015) Portfolio of intellectual property Therefore, if the value of same was present in the financial statement of the company, it would have assisted in reflecting the materiality level of risk that can allow an auditor to plan corrective actions in contrast to the same. Inventories The company has easily attained the position of overinflating its inventory in order to affect its net income by exaggerating the net earnings for the accounting period. This material risk must be identified by the auditor because it can allow the company manipulate its accounts for its own interest and safeguard itself from legal actions (Nanosonics, 2017). Such evaluations require strict and enhanced audit plan that plays a key role in detecting such material misstatements. Moreover, if such risks remain unidentified, the company may attain the position in influencing other segments as well that can avoid stakeholders in making valuable decisions (Matthew, 2015). Conclusion Auditing standard 300 can be thought of as the godfather of the comprehensive processes mentioned above, which decides the planning of an audit of the financial report. In the early stages of auditing processes that is planning, the auditing partner and its staff accumulate and get familiar with the company and its environment. This helps to detect material misstatements related to the company article. The ending of the planning phase is followed by interaction with the management about the recorded data during the planning term and those charged with governance (Niemi Sundgren, 2012). If the management is lenient in such cases or the auditing partner finds out that association with the current company is harmful for its professionalism then it can choose to dump the company with a notice to the management. Investigative procedures and proportional loom should be the weapons of the auditor against risks and prior material misstatements. These are the comprehensive procedures prescri bed by various accounting and auditing which need to be followed by the auditing partner prior and in the duration of conducting any audit. References Baldwin, S. (2010) Doing a content audit or inventory. Pearson Press. Cappelleto, G. (2010) Challenges Facing Accounting Education in Australia. AFAANZ, Melbourne Elder, J. R, Beasley S. M. and Arens A. A. (2010) Auditing and Assurance Services. Person Education, New Jersey: USA Fazal, H. (2013) What is Intimidation threat in auditing?.[online]. Available from: https://pakaccountants.com/what-is-intimidation-threat-in-auditing/ [Accessed 6 March 2017] Gay, G. and Simnet, R. (2015) Auditing and Assurance Services. McGraw Hill Geoffrey D. B,Joleen K,K. Kelli S. and David A. W. (2016) Attracting Applicants for In-House and Outsourced Internal Audit Positions: Views from External Auditors. Accounting Horizons. [online] 30(1), pp. 143-156.Available from https://doi.org/10.2308/acch-51309 [Accessed 5 March 2017] Hoffelder, K. (2012) New Audit Standard Encourages More Talking. Harvard Press. Kaplan, R.S. (2011) Accounting scholarship that advances professional knowledge and practice. The Accounting Review [online]. 86(2), pp. 367383. Available from https://doi.org/10.2308/accr.00000031 Lapsley, I. (2012) Commentary: Financial Accountability Management. Qualitative Research in Accounting Management. [online]. 9(3), pp. 291-292. Available from https://doi.org/10.1111/1468-0408.00081 Livne, G. (2015) Threats to Auditor Independence and Possible Remedies. [online] Available from: https://www.financepractitioner.com/auditing-best-practice/threats-to-auditor-independence-and-possible-remedies?full [Accessed 6 March 2017] Manoharan, T.N. (2011) Financial Statement Fraud and Corporate Governance. The George Washington University. Matthew, S. E. (2015) Does Internal Audit Function Quality Deter Management Misconduct?. The Accounting Review. [online]. 90(2), pp. 495-527. Available from https://doi.org/10.2308/accr-50871 [Accessed 5 March 2017] Merchant, K. A. (2012) Making Management Accounting Research More Useful. Pacific Accounting Review. [online]. 24(3), pp. 1-34. Available from https://doi.org/10.1108/01140581211283904 [Accessed 5 March 2017] Messier, W and Emby, C. (2005) Auditing Assurance Services: A systematic approach. McGraw-Hill. Nanosonics. (2017) Nanosonics Annual Report 2017 [online]. Available from https://cdn2.hubspot.net/hubfs/2616865/Investor%20Centre%20-%20Annual%20Reports%20and%20Presentations/8045NANO_Annual_Report_2017_A4_Singles_Web_FA2.pdf [Accessed 7 April 2018)] Niemi, L. and Sundgren, S. (2012) Are modified audit opinions related to the availability of credit? Evidence from Finnish SMEs. European Accounting Review. [online]. 21(4), pp. 767-796. Available from https://doi.org/10.1080/09638180.2012.671465 [Accessed 5 March 2017] Roach, L. (2010) Auditor Liability: Liability Limitation Agreements. Pearson.

Study Guide For Double Helix Essay Sample free essay sample

Part I: Due Friday. January 25th 2013. Type or Hand Write in Ink.Research Huntington’s disease and reply these inquiries. ( 10 platinums ) a.Make this first! What is Huntington’s DiseaseB. How is it caused on a familial degree? Be specific about the chromosome # . familial mutant. dominant or recessionary. and opportunity of inheriting the upset. c. What are symptoms?d. Is at that place a remedy? What are interventions?**Include citations from at least 2 dependable beginnings. Part II: Due ______________________ . Reading Guide Questions and Essay *Be certain to include page Numberss and quotation marks from the novel. when appropriate. to guarantee a complete reply and full recognition.1. What is the connexion between what Wyatt Transgenics Company does and the mention to the amusing â€Å"The Swamp Thing† ? ( 2 platinums ) The connexion between Wyatt Transgenics and the comedian is that in the company they alter organism’s cistrons and that’s what had happened to the Swamp Thing ( pg 64 ) 2. We will write a custom essay sample on Study Guide For Double Helix Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page What does the term â€Å"transgenic† mean? ( 2 platinums ) Transgenic is when an being is altered by holding a cistron from another species transferred into the original being. ( pg 64 ) 3. How do the scientists make the animate beings develop the coveted proteins? How do scientists entree the proteins? Supply the 3 exact inside informations. ( 4 platinums ) The scientist make the proteins by giving the coneies the transgenic cistrons. so in the coney the cistrons make the coneies produce the proteins in their milk. and so they milk the coneies and sublimate the proteins out of the milk. ( pg 67 ) 4. How can the proteins from the animals’ milk be used? ( 2 platinums ) The proteins can be used for interventions for arthritis and malignant neoplastic disease and several other conditions that affect the immune system. ( pg 67 ) 5. When was proving for Huntington’s disease foremost made legal? Explain how Eli’s parents were able to acquire him tested. ( 2 platinums ) Huntington’s disease was foremost made legal in 196 8. Eli’s parents were able to acquire him tested so immature because they said it was Eli’s father acquiring tested because he was over 18. 6. Based on the novel. what is a Chimera? ( 2 platinums ) A Chimera is a being that is created by a recombination of Deoxyribonucleic acid from different beginnings. ( pg 189 ) 7. How does the term Chimera relate to Eli and Kayla? ( 2 platinums ) The term Chimera relates to them because both of them were made because Eli’s ma had Huntington’s so they â€Å"made† both of the childs. 8. What is the familial marker for Huntington’s disease? ( 2 platinums ) The familial marker for Huntington’s is huntingtin. 9. Should the Acts of the Apostless of Dr. Wyatt be considered legal? Why or why non? ( 4 platinums ) Yes. because it was for the interest of non acquiring Huntington’s. It should be legal because that manner Eli would non hold had to fight through the disease. 10. What are the names of the bases notated as C-A-G? ( 2 platinums ) The names are cytosine-adenine-guanine. 11. Make you hold with the handicapped adult male mentioned in the epilogue? Why or why non? ( 4 platinums ) Yes. because he says there is nil incorrect with holding down’s syndrome so why would people desire to halt this disease because they don’t harm anyone. 12. If you were in Eli’s place. would you take to be tested for Huntington’s? Explain why or why non with points mentioned in the book. ( 6 platinums ) I would state yes. Even though I would be afraid to cognize the truth its better to cognize in front of clip alternatively of it merely get downing to go on one twenty-four hours. Besides because he would desire to protect the kids he would hold. 13. Describe how Dr. Wyatt made certain that Ava’s babe would be negative for Huntington’s disease. There are 2 specific stairss. ( 2 platinums ) He made certain by taking her eggs and happening which 1s would non hold the cistron and so infixing the sperm that would be besides non hold the cis tron.

Colour composition and Polarised Light

Colour composition and Polarised Light Introduction Colour and light are two inseparable factors and especially for those in the field of photography. The ability to achieve a perfect composition of colour and strike a balance between colour and light always poses a challenge to many people. How well these two aspects balance largely determine the outcome of the process. This discussion looks at these two very important aspects and how once can achieve balance between them to get that perfect shot.Advertising We will write a custom research paper sample on Colour composition and Polarised Light specifically for you for only $16.05 $11/page Learn More Colour While every aspect of photography is important, colour and light are the most fundamental (Verity 23). Colour plays a significant role in determining the content of any picture in terms of emotions. Just by looking at the colour composition of a photograph, it is possible to easily depict the mood that the photographer intends to create. Every colour has a meaning and depending on how much it has been emphasized, an onlooker can easily derive a message from it. Bright colours like orange and red for instance are a depiction of happiness and excitement. Dull colours on the other hand create a refreshing, relaxing and cool mood. Colour yellow does not create excitement like red does neither is it a colour of relaxation like blue and green are. Instead, yellow brings about a feeling of warmth Other than creation of moods, colours are also used to create certain desired effects. Depending on the angle of the camera together with the proper framing, it is easy for a photographer to draw great attention to a subject that though is brightly coloured. For example and Indian woman wearing beautifully coloured sari can have the right colours in the sari captured in such a way that the draw attention. One can also use contrasts of colours to create dynamic patterns and designs. Colour contrasts are always catchy to the eye so that it tends to explore the various colours contrasted. Light also influences colour composition by and large. For instance on sunny day you may want to concentrate on bright colours like red and orange. However, for a dull cloudy day a combination of saturated colours will work best. The amount of exposure that you give when taking a photograph also influences the colour composition and consequently the final product (Popular Mechanics 23). Therefore if you would like to have some colours subdues, then you may allow more light to pass. On the other hand, when intending to emphasize particular colours less light should be allowed so that such colours can stand out. Light Light is said to be an electromagnetic wave that moves through vibration that could be as long as 360 degrees. By definition, light is a radiation that is electromagnetic in nature, which the human eye is able to perceive. Light travels in the form of a wave. The different speeds at which these waves of light travel are perceived as different colours by the human eye. Polarization of light refers to the direction taken the wave of light when it is vibrating.Advertising Looking for research paper on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Usually, when the wave of light is undisturbed, it tends to move and vibrate randomly. The wave of light experience constant changes as it moves buy depending on the medium through which it is passing, it may be polarized in a number of ways. One way in which light is polarized is limiting the direction of vibration so that the wave is only able to vibrate in only on direction. The outcome of such polarization is that the light gets in through a medium is not the same as the one that comes out on the end side of the medium. Filters are responsible for polarization of light and they do son in varying ways. Some filters polarize by filtering particular colours so that they are no longer visib le in the wave of light. Two filters placed together with one bring on top of the other have the effect of being opaque or transparent to light. If these filters were to be turned round, then the light passing through the filters can be sort of turned off and on. There are those filters that are made in such a way that they do not allow transmission of light. They are known as crossed polarizers. These filters are such that when one allows light form a horizontal angel, the other allows from a vertical angle and thus preventing transmission. Relationship between Light and Colour Having discussed colour composition and polarization as two independent concepts let us now shift focus on the relationship that cist between colour and light. It has been said that light has a nature that is considered triple. This is a common argument especially by photographers (Konnen 87). By this they mean that light has three very essential aspects that are the quality, the direction and the colour. Ho w well one is able to master the three aspects will determine by and large the final images produced and whether ort not one will be able to achieve certain desired effects like the dilution of some colours for purposes of creating certain moods (Hirsh 78). According to the research and discovery of Isaac Newton, ordinary light as perceived by the human eye has seven rainbow colours namely, red, yellow, green, blue, indigo, orange and violet. Light is therefore a combination of different colours. What appears as pure white light as perceived by the eyes of a human being is light that has these colours well balanced. However, it is not always easy to have light with these balanced colours as the constantly get altered as they travel in form of waves. The colour of light has a great impact on the mood that an image taken has. It is of great importance therefore for any photographer to understand the concept of lighting and colour composition to use them to his advantage and create the desired effect.Advertising We will write a custom research paper sample on Colour composition and Polarised Light specifically for you for only $16.05 $11/page Learn More Another very important aspect that must be looked at is what is known as saturation of colours. Simply put, this is the concentration of a given colour. This is also used to mean how intense a given colour is. This means that colours that tend to be very vivid or highly conspicuous are considered saturated. Colours that are somewhat dull on the other hand are considered unsaturated. Lighting affects saturation of colours so that polarized light may reduce saturation so that pretty much of the colour is diluted and the vice versa is true. Being aware of the existence of this concept, it then becomes important to for photographers to know how to control saturation and use it to their advantage in order to achieve the desired effects and moods. The time of the day by and large affects satura tion of colours. This is because the sun being the source of light is at different intensities at different times of the day. When the sun is rising in the morning, the colours at that time tend to be saturated. This is also the case in the late afternoon. Colours however tend to be less saturated at midday. Therefore, if you were taking the photograph of a landscape, the best time to take the photo would be very early or late afternoon when the sun is about to set to achieve highly saturated colours. One may also use a filter to alter the saturation of colours. Polarizers are used to increase the intensity or saturation of colours. When light is polarised it has the effect of diluting colours. Thus use of polarisers will help reduce the amount of polarized light coming ion the surface of the image being photographed thus increasing the saturation. Conclusion It is indeed of great importance that photographers grasp the concept of polarisation of light and colour composition really well. This is because it is the only way to achieve the best images possible. When one is not clear about either of these two aspects, then they may fail to achieve the desired results in their photographs. Any poor picture that is produced by a photographer is as a result of failure to balance these two aspects and this makes it all so vital. It is only through experience that one is bale top master these aspects properly. Photography is an art that is perfected over time through constant practice. Hirsh, Robert. Exploring Colour Photography: From Films to Pixels. London: Focal Press, 2010. Print.Advertising Looking for research paper on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Konnen, Gary. Polarised Light in Nature. New York: CUP Archive, 1985. Print. Popular Mechanics. â€Å"Hearst Magazines.† Volume 76, No 3. New York. Sep 1941. Verity, Enid. Colour Observed. Michigan: Van Nostrand Reinhold, 1980. Print.

Corporate finance Essay Example | Topics and Well Written Essays - 2000 words - 2

Corporate finance - Essay Example What is however important to note that these crises were largely unanticipated as they emerged due to the subprime mortgages which form a very little percentage of the overall activity that take place in the financial markets. This therefore raises the question of how many investors actually mispriced the risk that has to be included into the pricing of the securities given the fact that market participants always form rational expectations about the future equilibrium prices. Rational Expectations theory forms the basis of some of the most important macroeconomic models in recent times. The formation of the efficient market hypothesis is also one of the macroeconomic models which utilizes the rational expectations theory and assert that market participants always form rational expectations about the future equilibrium prices. Thus it is useless in predicting the future financial crises as the market participants already discount such future information into their risk calculations.(Hui & Lui, 2002). However, despite such theoretical assumptions, the current global financial crises were more of a shock for most of the participants as they emerged out of blue and affected almost every market on the earth. This paper will attempt to discuss the question of predicting the future financial crises in the light of efficient market hypothesis and rational expectations and will attempt to answer the question by considering the current global financial crises. The current financial crises has slowed down the pact of economic growth in many countries including US and UK and many governments have to inject money in order to save their financial systems from complete collapse. These financial crises apparently emerged due to the imprudent banking practices and resulting lending into the subprime mortgage sector. Over the period of time, the competition for banks became stronger and banks, thanks to de-regulation, were allowed to engage themselves into practices which

Process of Economic Integration in the World Today Essay

Process of Economic Integration in the World Today - Essay Example This paper presents a modern research report on different aspects of economic integration in the world today. The prime purpose involved in the process of economic integration process is reducing costs both for the producers and the consumers as well. The increasing levels of integration help in determining the competitiveness and allowing smooth movement of labour, cost and capital. It can be affirmed that the implementation of economic integration lessens the short-term profits due to the imposition of tariffs. Economic integration reduces the other trade barriers as well. It gives less power to the government of the member nations to make necessary adjustments that might deliver significant benefits to them. The process of economic integration in the context of E.U. generally includes four main features. One of the features is that economic integration reflects increase in intra-euro area trade at large. The second facet of economic integration can be identified to be making smooth and free flow of capital and also contributing towards developing the aspect of financial integration. The third feature of economic integration relating to its process is constituted by labour mobility. The other facet of economic integration in relation to its process can be viewed as synchronizing and coordinating different cyclical positions across the Euro areas It can be apparently observed but deeper economic integration is needed for the creation of developed economy in this increased level of globalisation along with internationalisation. ... These figures reflect the creation of strong Europe (European Central Bank, 2007). The second facet of economic integration can be identified to be making smooth and free flow of capital and also contributing towards developing the aspect of financial integration. Financial integration strengthens the economic mechanism, raises the competition and increases the potential for stronger economic growth. Along with economic integration, financial integration plays an imperative role in determining effective monetary policies and ensuring free along with effective transmission of single monetary policy. However, the actual need of financial integration is being observed in retail banking sector (EUbusiness Ltd, 2013). The third feature of economic integration relating to its process is constituted by labour mobility. As the labour market begins to tighten itself in developing economies, absence of openness may result in generating the risks of wage pressure. In most part of the European U nion, it can be viewed that cross border labour mobility is still limited, restricting in developing the economy by a certain degree through the emergence of regulatory barriers. The other facet of economic integration in relation to its process can be viewed as synchronizing and coordinating different cyclical positions across the Euro areas (Kuroiwa, 2012). Purposes of Economic Integration In order to determine the purposes of economic integration, it can be apparently observed that economic integration has increased among the countries in the European Union, but deeper integration is needed for the creation of developed economy in this increased level of globalisation along with internationalisation. In this similar context, the prime

Modern Method Of Construction And Proposed Hotel Project Construction Essay

Modern Method Of Construction And Proposed Hotel Project Construction Essay Basically, this report contains two tasks starts with an introduction giving a background of the modern method of construction (MMC) and reflecting the aim and objectives of the Project. One part of the report involved: Review the history and development of modern method of construction Sustainable development and construction The improvement of construction performance by the MMC The justifications from part-1 are: There were numerous changes came to the construction industry after the MMC. MMC gives a wide range of benefits to construction industry The second part of report involved: The outline introduction of proposed hotel Comparison between the traditional and modern method of construction Conclusion with the case study The justifications from the part-2 are: To build a proposed hotel in Wolverhampton MMC is a better preferred method rather than going for a traditional method. This MMC gives better quality building with less onsite labour in a minimum time. Finally there would be conclusions on each section. In addition, the report consist content pages, references and Bibliography. Nothing can be accomplished without hard work so as a report on your hands, hence I really hope that the work I have done in this report will be a considerable work. INTRODUCTION Its true to say that there are many types of non-traditional method of construction in the UK than any other country in the world and also numerical types has been growing. Talking about modern method of construction, its all are better products and processes. By using this MMC, building developers aim to improve business efficiency, quality of building, buyers satisfaction, the performance of environmental, the sustainability time scale, delivery of time, etc. These Modern methods of construction could provide better quality building with less onsite labour in a minimum time. This report mainly talking about the method of MMC and their development in the UK construction industry compared with traditional construction. Furthermore the selections of method for specific proposed hotel which will be build in city centre of Wolverhampton. TASK01: Review the history and development of modern method of construction Introduction to MMC The MMC can be defined as those which give an efficient product management process to provide more products of good quality in a minimum time. It has been defined in a many ways which are pre-fabrication, off-site production and off-site manufacturing. The MMC can be classified for five categories Off site manufacture volumetric There are three dimensional methods produced in the factory, condition prior to transport to site. In this method the dwelling is pre fabricated at off- site then which are assembled on site. Off-site manufacture panellised The flat panel prepared at off- site then assembled on site to make a three dimensional structure. Services, windows, doors, internal finishes and external cladding may also be incorporated. Off-site manufactured-hybrid This method referred to semi-volumetric which are mixed with both volumetric and panellised approach. Off-site manufactured sub-assemblies and components Large element that can be included into both conventionally built or MMC dwelling. Non-site manufacture Using new ideas method of construction used on-site and use of element in an new ideas such as floor or roof cassettes, pre-cast concrete foundation building up, thin jointed blocks, etc. The history of MMC The United Kingdoms construction industry developed strong growth in recent years. UK construction industry is a trend setting construction industry well none for worldwide construction expertises. Approximately one and half million people employed in the construction industry and over 160,000 firms. UK construction industry growing with the infrastructure and the commercial construction sectors at the forefront of this trend. Ralph Morton. (2002) states the new forms of construction developed in response to new forms of demand and they transformed the face of Britain. In 1801 no town in Britain, with the exception of London, had a population of more than 100,000 people. Fifty years later there had been a vast increase in the area of housing, London had grown to two and half million, Liverpool to 376 000, Manchester to 303 000. In the last decade procurement and practice of both public and private work has been subject of huge change. Several wrongs have identified the public and private sector clients dissatisfaction with the traditional approach within the industry. Poor quality, over budget and late completion also has been increased problem in construction industry. For ex: Scottish parliament building in Edinburgh Initial budget-4o million Final cost-430million and 20 months late. The 1st step was taken in1994, Sir Michal Latham reported to the construction industry. Now the constructing best practice developed and developing with the support of Lathams and Eagans reports. These report led to best value, best practice achieving excellence in construction and new procurement routes and mainly focused in delivering value for money deliver project to time , quality and cost. Introduction to Sustainable Development and Sustainable Construction Sustainable development is the process by which we move towards sustainability. Sustainable development focuses on improving the quality of life for all without increasing the use of natural resources beyond the capacity of the environment to supply them indefinitely. As defined in The Brundtland Report (1987): Within the UK construction industry, the concept of sustainable construction has emerged because of growing concerns on the environmental and social impacts created by the construction activities. By definition, sustainable construction is (Khalfan, M.M.A., 2002: 15): The creation and responsible management of healthy built environment based on resources efficient and ecological principles In 2004, Department of Trade and Industry (DTI) has registered more than 170,000 private construction contractors working in the UK and 93% of these companies employed less than 8 people (DTI, 2004). The Triple Bottom Line of Sustainable Construction As a whole, sustainable development or sustainable construction comprises of three broad themes of social, environmental and economic accountability, often known as the triple bottom line. The objectives of these three themes are (Constructing Excellence, 2004): Social To recognise the needs of everyone impacted by construction, from inception of a project to demolition. The list will include construction site workers, local communities, the supply chain and people that will use the finished product. Environmental To protect the environment from the impact of emissions, effluent and waste and where possible, to enhance it and use natural resources, carefully. Economic To increase profitability by making efficient use of resources, which includes labour, materials, energy and water. Figure 5: The Three Themes of Sustainable Development (Source: Khalfan, M.A.A., 2002: Figure 2) Sustainable construction takes account of these objectives in a balance at all stages of a construction project. However, within the context of this research, emphasis will be given the environmental aspect of sustainable construction, at production/construction phase. The improvement of construction performance by the MMC The MMC gives a wide range of benefits to construction industry. This includes a range of technologies and processes. By using MMC construction industry can benefit from: Reduced construction time The MMC can provide new construction facilities in less than half the time required for traditional construction. Reduced on-site activity MMC techniques require less time on site. This can be in the order of 20% of the time required using traditional methods. Reduced on site disruption As a many of construction work carry out off-site, the impact to the existing site is significantly low. In comparison to traditional construction, there is a reduction in noise, dust, and light pollution and the site will also benefit from less vehicle movements. As a result, the construction is able to carry on its operation with minimum disruption to the daily activities. Reduced health and safety risk Most construction work at the off-site therefore risk will be reduced for the workers and also for third parties. Improved quality control This construction makes higher degree of quality assurance. Both contractor and client could able to prove the building before the installation. Reduced force on on-site parking Minimum time required on-site for construction so reduced in need for parking. These are the major issue on many construction sites during the major development. The majority of construction related traffic is directed to the factory, causing less impact on the construction site. Increasing site utilisation Many construction sites are struggle to accommodate much needed new facilities. The nature of construction enables to provide facilities in many challenging locations such as over rooftops, on gantry style support structures and in enclosed courtyards. Overcoming skill shortage Cost-effective Predictable construction progress Reduced waste Fast and precise Speed up housing creation Maintain high standards of design quality Minimum resource consumption Makes use of more effective materials Less period of investment to the client The background to change has been: The apparent failure of the industry to satisfy the perceived needs of its customers, particularly in the way it organises and executes projects Changes in society towards greater openness and accountability, greater efficiency, effectiveness and economy Changes in IT and technology Growth in construction professionals Change in culture of working practices Spectacular failures of high profile, high value projects Recent reports into the state of the industry: Accelerating Change (Rethinking Construction, 2002) Government intervention in construction through privatisation philosophies e.g. compulsory competitive tendering, European legislation, PFI Pressure groups forcing through changes i.e. Clients wanting single point responsibility Impact of quality assurance systems which have evolved into a desire to establish best practices in construction work Conclusion Sustainable construction has increasingly gain popularity in the construction industry. It has been recognised as the way forward to improve the performance of the construction industry in the UK. With regards to the construction activities, sustainable construction practices such as waste management, water conservation, energy efficiency, use and procurement of materials and protection of biodiversity, should be given higher priority by the construction team. Emphasis on these practices will benefit the contractors and the whole construction industry. Task: 02 The outline introduction of proposed hotel The hotel will be built in the city centre of Wolverhampton which is near to the railway station on a restricted area. Shape: rectangular Storeys: 10 Bed room: 16 Hotel and surrounding area The site is in a prominent gateway location, on a major arterial route into the city centre, very close to the railway station. Location factors Narrow width between Culwell Street and Lock Street Levels difference between Culwell Street and Lock Street Overshadowing and lack of outlook because of Wednesfield Road and Noise from traffic, railway line and station Carver blast zone Site bisected by public footpath Contamination This is a very significant and unique site in terms of its location, prominence and constraints. The appropriate uses for this site are limited and a viable alternative to the proposed student housing seems highly unlikely, particularly in the current economic climate. It is considered that the proposed high quality buildings on a very difficult yet prominent site will create a positive landmark that has the potential to substantially improve the image of the City and the scheme should be welcomed. The proposed use and buildings will generate a range of benefits identified above. Comparison between the traditional and modern method of construction Basically, talking about the traditional method of construction its very attractive and simple. Most of the people like to build their dream building in the traditional method. Even though when its compared with modern method it has some disadvantages. The proposed hotel of comparison between both methods given by below. In the context of the construction industry, many of professionals would acknowledge that successful construction projects are often attributed to those that achieve the clients requirements and project objectives set out at the outset of the project. Such objectives may include delivery within the stipulated TIME period, construct within the budgeted COST and meet the QUALITY standard set. Other objectives, equally important, may include meeting functional requirements and satisfaction of the clients. 01) Cost: Clients have been increasingly concerned with the overall profitability of projects and the accountability of projects generally. Cost overruns, in association with project delays, are frequently identified as one of the principal factors leading to the high cost of construction (Charles and Andrew, 1990). In the hotel project, MMC leads to more effective than the traditional method. The MMC will help to ensure cost certainly. Construction time By using of MMC Builders could provide proposed hotel in less than half the time required for traditional construction. So this could help to the client earlier return of money. Site labour requirement In the MMC, most of the working process will carry out at off-site. Therefore all of the project members will be working together to maximise the output, in turn reducing the work required on site compared with traditional method. This implies the construction cost will be saved at all the stages. Professional fees The standard design details used for MMC therefore hotel will be simplify and minimise the need for specialist design input. Waste Site installation of the MMC is rapid and quiet operation this can be done just in time without site storage requirement. On the other hand the delivery of huge amount of materials will be reduced so that waste and also cost will be reduce by using MMC against the traditional method. Return of investment MMC technique has minimum time on-site because most of building element constructs using pre-fabricates elements, off-site production and off-site manufacturing. This could be in order of 20% time required compared with traditional method, again fast return of investment to the client. 02) Quality: To the client, quality may be defined as one of the components that contributes to value for money (Flanagan and Tate, 1997). Vincent and Joel (1995) define total quality management as: à ¢Ã¢â€š ¬Ã‚ ¦the integration of all functions and processes within an organisation in order to achieve continuous improvement of the quality of goods and services. The goal is customer Satisfaction. Furthermore, in order to achieve successful project quality management three separate drivers to quality management must be managed, namely: Integration of the project team so as to have a single objective and a common culture A customer focus for the team thereby facilitating the provision of products and services that will meet the clients needs A process of continuous improvement in the management of the construction project. MMC can deliver the hotel as good quality as much techniques providing under the durability. It makes possible a far higher degree of the quality control than a traditional construction project because of the factory controlled environment in terms of pre-assembled units. The hotel of both contractor and client can prove the building before installation on site. Using MMC hotel could ensure majority of internal fitting and mechanical and electrical installations with the good quality control and protecting against the weather damage and delays during the construction. 03) Speed Speed completion of a construction project is frequently seen as a major criterion of project success by clients, contractors and consultants alike. Newcombe et al. (1990) note that there has been universal criticism of the failure of the construction industry to deliver projects in a timely way. NEDO (1983) states that a disciplined management effort is needed to complete a construction project on time, and that this concerted management effort will help to control both costs and quality. This is tantamount to saying that the clients objectives can be achieved through a management effort that recognises the interdependence of time, cost and quality. Time MMC technique requires minimum time on-site because hotel construction going to be built using pre-fabricates elements, off-site production and off-site manufacturing. This could be in order of 20% time required compared with traditional method. This time saving implies: The site productivity will be increased and also speed. Earlier return of investment of hotel for the client Site preliminaries could be reduced as 8% to 15 of the total construction cost. Reduced in on-site labour requirement to less than a quarter. The standard design will be used in the project. Therefore this MMC could make better use of scarce and minimise in total development time with regard to maximum speed. 04) Risk In the last 25 years over 2,800 people have died by injuries as a result of construction process in Britain. Today health and safety conditions have been improved by the construction professionals. Many of contractors are seeking for improve safety on site for its employees and also subcontractors. The location of hotel project is close to the rail way station and also restricted area. The risk should be considerable mainly at the working site. The major benefit of using MMC in the hotel project, the health and safety risk involved minimised due to following factors: Off-site manufacture: Many of the construction and fit out of the hotel will take place in a controlled factory environment where is not affected by the weather condition. The multi story of hotel will be constructed at ground level minimising risks from working at height. Safety measures could be strictly imposed and simple to supervise. Modern installation: Once the installation delivered to site, a fit out modern building requires fewer contractors, far smaller no of deliveries, less construction compound and overall minimises the disruption to the hotel surrounding environment. All of these things reduce the health and safety risk. When compared to traditional method, overall the complete construction process could be 60% of the total time of traditional method, again reducing probability of incident. Disruption: The installation to the hotel will take place off-site. It has fewer people will be around and cause less disruption to the site area. The less period on site also exposes hotel staff and public to minimise risks. The reduced working progress on site will reduce exposure to risks both for construction workers and the public, again MMC makes much safer from construction. 05) Design integration: In the MMC the design integration must be considered early and also economy of scale could be achieved through the design. Once it compared to traditional method the MMC has more preferred method when design integration considered. The following key points are consist benefits of MMC compared to traditional. At off-site manufacture hotel building gives a pre-assembled unit life spans could vary from 25 to 60 year design life by using frame type and specification employed. The frame going to be used in the construction of hotel, which benefit from void at roof level allowing easy to re-routing of mechanical and electrical services. During the life cycle of the hotel, floor could be reconfigured with the mechanical and electrical services simply suit in the service void. The hotel could be relocated en masse to another site, and it will be used for the same purpose where it was originally constructed or re-configured for a different requirement. In the MMC, most of the hotel structure will be built using steel. This gives very efficient as a structural material and relatively small quantity of steel accomplishes spans of high-load bearing capacity and also it has less in weight so it can be handled easily on site. Conclusion: MMC offers considerable offers to the developers or builders in term of fast of construction, ability to pre-plan the construction work and minimised call-backs. Its providing hotel building offers sustainability in the honest way that traditional construction will never be able to match. Even though this MMC still facing some barriers which are poor understanding, poor courage, poor acuity, poor agreement for products, poor skills and cost perception. So in this hotel construction its essential that these obstacle both by client and project team members. Case study 01: Hotel, Granada Travelodge, London This project contains 64 bed rooms building with underground parking facilities. It was built by the steel frame with the support of MMC. It has five story building and space for public on the ground floor. Building includes bar for breakfast and different lifts facilities. The benefits arisen from MMC in this project were: Maintained better finished quality Site production and preparation was done in same time with factory production, therefore less disruption for existing business and environment. There was a cost effective for 5 storey building. Hotel was built within 27 weeks, more of this winter moths also included. The all manufacture cost was reduced by 35% Extra revenue, as early completion of the building was brought additional  £179,000 income for the client. Case study 02: Barling court, stockwell, London This project contains 8 apartments with the bed room facilities. This apartment originally were manufactured in Krakow and transferred to sites. No of apartments-08 Project cost- £700,000 Construction type- Modern Reduction in site labour-75% Reduction in commercial vehicle movement-40% Reduction in waste-70% From these case studies Again these case studies give a better preferred method is MMC Its a preferred method of proving hotel as proposed.

Night World : Black Dawn Chapter 7

Maggie could have made it to the path aboveif she'd been by herself. It was an easy climb, thirdlevel at most. But she wasn't alone. And there was no way to guide Arcadia up a cliff like that. No time to double back to the forest, either. They're going to get us, Maggie realized. â€Å"Get down,† she whispered to Cady. There wasahollow at the base of the boulder pile. It would only hold one of them, but at least it was shelter. Even as she shoved Cady down into it, she hearda shout from the edge of the forest. Maggie pressed flat against the rock. It was slippery with moss and lichen and she feltasexposed as a lizard on a wall. All she could do was hang onand listen to the sounds of two men getting closer and closer. And closer, until Maggie could hear harshbreathing on the other side of the boulders. â€Å"It's a dead end-† Gavin's young voice began. â€Å"No. They're here.† And that, of course, was Bern. And then there was the most horrible sound inthe world. The grunts of somebody climbing uprock. We're caught. Maggie looked around desperately for a weapon. To her own amazement, she found one, lyingthere as if it had been left especially for her. A dried branch wedged in between the rocks aboveher. Maggie reached for it, her heart beating fast.It was heavier than it looked-the climate must be too wet here for anything to really dry out. And the rocks are wet, too. Wet and slippery.And there's one good thing about this place-they'llhave to come at us one at a time. Maybe I can push them off, one by one. â€Å"Stay put,† she whispered to Cady, trying to makeher breath last to the end of that short sentence.†I've got an idea.† Cady looked beyond exhaustion. Her beautifulface was strained, her arms and legs were shakenby a fine trembling, and she was breathing in silentshudders. Her hair had come loose in a dark curtain around her shoulders. Maggie turned back, her heart beating in her throat and her fingertips, and watched the top of the boulders. But when what she was watching for actually came, she felt a terrible jolt,asif it were completely unexpected. She couldn't believe that she was seeing the close-cropped top of a man's head, then the forehead, then the cruel face. Bern. He wasclimbing like a spider, pulling himself by his fingertips. His huge shoulders appeared, then his barrel chest. And he was looking right at Maggie. His eyes methers, and his lips curved in a smile. Adrenaline washed over Maggie. She felt almost disengaged from her body, as if she might floataway from it. But she didn't faint. She stayed motionless as the terror buzzed through her like electricity-and she tightened her grip on the stick. Bern kept smiling, but his eyes were dark andexpressionless. As she looked into them, Maggiehad no sense of connecting to another mind likehers. He's not human. He's†¦ something else, a distant part of her mind said with absolute conviction. And then one of his legs came up, bulging withmuscle under the jeans, and then he was pullinghimself to stand, looming over her, towering likea mountain. Maggie braced herself, gripping the stick. â€Å"Stay away from us.† â€Å"You've caused me a lot of trouble already,† Bernsaid. â€Å"Now I'm going to show you something.† There was a little noise behind her. She glancedback in alarm and saw that it was Cady, trying toget up. â€Å"Don't,† Maggie said sharply. Cady couldn't, anyway. After a moment of trying to pull herself outof the hollow, she slumped down again, eyes shut. Maggie turned back to see Bern lunging at her. She thrust the stick out. It was completely instinctive. She didn't go for his head or his midsection; she jabbed at a fist-sized pit near his feet,turning the stick into a barrier to trip him. It almost worked. Bern's foot caught underneath it and his lunge became uncontrolled. Maggie saw him start to unbalance. But he wasn't the huge muscle-bound apehe looked like. In an instant he was recovering, throwing his weight sideways, jamming a foot toarrest his fall. Maggie tried to get the stick unwedged, to use itagain, but Bern was fast.He wrenched it out of herhand, leaving splinters in her palm. Then he threwit overhand, like a lance. Maggie heard it hit the ledge behind her with explosive force. She tried to dodge, but it was already too late. Bern's big hand flashed forward, and then he hadher. He was holding her by both arms, looming overher. â€Å"You trying to mess with me?† he asked in disbelief. â€Å"With me?Take a look at this.† His eyes weren't cold and emotionless now.Anger was streaming from him like the strong, hot.scent of an animal. And then†¦ He changed. It was like nothing Maggie had ever seen. She was staring at his face, trying to look defiant, whenthe features seemed to ripple. The coarse dark hair on his head moved, waves of it spreading downhis face like fungus growing across a log. Maggie'sstomach lurched in horror and she was afraid shewas going to be sick, but she couldn't stop looking. His eyes got smaller, the brown irises flowing outto cover the white. His nose and mouth thrust forward and his chin collapsed. Two rounded ears uncurled like awful flowers on top of his head. Andwhen Maggie was able to drag her eyes from hisface, she saw that his body had re-formed into ashapeless, hulking lump. His broad shoulders weregone, his waist was gone, his long legs bulging with muscle were squat little appendages close to the ground. He was still holding Maggie tightly, but not withhands. With coarse paws that had claws on the ends and that were unbelievably strong. He wasn't a person at all anymore, but something huge andvaguely person-shaped. He was a black bear, andhis shiny little pig-eyes stared into hers with animal enjoyment. He had a musky feral smell that got into Maggie's throat and made her gag. I just saw a shapeshifter shift shape, Maggiethought with an astonishment that seemed dim andfaraway. She was sorry she'd doubted Jeanne. And sorry she'd blown it for Cady-and Miles. Sylvia had been right. She was just an ordinary girl, only maybe extraordinarily stupid. Down on the lower boulders, Gavin was laughingmaliciously, watching as if this were a footballgame. The bear opened his mouth, showing ivory-whiteteeth, darker at the roots, and lots of saliva. Maggiesaw a string of it glisten on the hair of his jowl.She felt the paws flex on her arms, scooping hercloser, and then Lightning hit. That was what it looked like. A flash that blindedher,as bright as the sun, but blue. It crackled infront of her eyes, seeming to fork again and again,splitting and rejoining the main body of its energy. It seemed alive. It was electrocuting the bear. The animal had gone completely rigid, his headthrown back, his mouth open farther than Maggiewould have believed possible. The energy hadstruck him just below what would have been theneck on a man. Dimly, Maggie was aware of Gavin making a thinsound of terror. His mouth was open as wide as Bern's, his eyes were fixed on the lightning. But it wasn't lightning. It didn't strike and stop. It kept on crackling into Bern, its form changingevery second. Little electrical flickers darted through his bristling fur, crackling down his chestand belly and up around his muzzle. Maggie almostthought she could see blue flames in the cavern of his mouth. Gavin gave a keening, inhuman scream and scrambled backward off the rocks, running. Maggie didn't watch to see where he went. Hermind was suddenly consumed with one thought. She had to make Bern let go of her. She had no idea what was happening to him, butshe did know that he was being killed. And thatwhen he was dead he was going to topple off the mountain and take her with him. She could smell burning now, the stink of smok ing flesh and fur, and she could actually see whitewisps rising from his coat. He was being cooked from the inside out. I have to do something fast. She squirmed and kicked, trying to get out of thegrip of the paws that seemed to clutch her reflexively. She pushed and shoved at him, trying to get him to loosen his hold just an inch. It didn't work. She felt as if she were being smothered by a bearskin rug, a horrible-smelling pelt that was catchingon fire. Why the lightning wasn't killing her, too,she didn't know. All she knew was that she wasbeing crushed by his size and his weight and thatshe was going to die. And then she gave a violent heave and kicked ashard as she could at the animal's lower belly. Shefelt the shock of solid flesh as her shin connected. And, unbelievably, she felt him recoil, stumblingback, his huge forelegs releasing her. Maggie fell to the rock, instinctively spreadeagling and grabbing for holds to keep from slidingdown the mountain. Above her, the bear stood andquivered for another second, with that impossibly bright blue energy piercing him like a lance. Then,just as quickly as it had come, the lightning wasgone. The bear swayed for a moment, then fell likea marionette with cut strings. He toppled backwards off the cliff into thin air.Maggie caught a brief glimpse of him hitting rockand bouncing and falling again, and then sheturned her face away. Her closed lids were imprinted with a blazingconfusion of yellow and black afterimages. Herbreath was coming so fast that she felt dizzy. Herarms and legs were weak. What the hell was that? The lightning had saved her life. But it was stillthe scariest thing she'd ever seen. Some kind of magic. Pure magic. If I were doinga movie and I needed a special effect for magic, that's what I'd use. She slowly lifted her head. It had come from the direction of the ledge.When she looked that way, she saw the boy. He was standing easily, doing something with hisleft arm-tying a handkerchief aroundaspot ofblood at the wrist, it looked like. His face wasturned partially away from her. He's not much older than me, Maggie thought,startled. Or-is he? There was something abouthim, an assurance in the way he stood, a grim competence in his movements. It made him seem likean adult. And he was dressed like somebody at a Renaissance Faire. Maggie had been to one in Oregon two summers ago, where everyone wore costumes fromthe Middle Ages and ate whole roast turkey legsand played jousting games. This boy was wearingboots and a plain dark cape and he could havewalked right in and started sword fighting. On the streets of Seattle Maggie would havetaken one look at him and grinned herself silly.Here, she didn't have the slightest urge to smile. The Dark Kingdom, she thought. Slaves andmaidens and shapeshiftersand magic. He's probably a wizard. What have I gotten myself into? Her heart was beating hard and her mouth wasso dry that her tongue felt like sandpaper. But therewas something stronger than fear inside her.Gratitude. â€Å"Thank you,†she said. He didn't even look up. â€Å"For what?† He had aclipped, brusque voice. â€Å"For saving us. I meanyou did that, didn't you?† Now he did look up, to measure her with a cool,unsympathetic expression. â€Å"Did what?† he said in those same unfriendly tones. But Maggie was staring at him, stricken withsudden recognition that danced at the edges of hermind and then moved tantalizingly away. I had a dream – didn't I? And there was somebody like you in it. He looked like you, but hisexpression was different. And he said†¦he saidthat something was important†¦. She couldn't remember! And the boy was stillwatching her, waiting impatiently. â€Å"That †¦thing.† Maggie wiggled her fingers, trying to convey waves of energy. â€Å"That thing thatknocked him off the cliff. You did that.† â€Å"The blue fire. Of course I did. Who else has thePower? But I didn't do it for you.† His voice waslike a cold wind blowing at her. Maggie blinked at him. She had no idea what to say. Part of her wantedto question him, and another part suddenly wantedto slug him. A third part, maybe smarter than boththe others, wanted to run the way Gavin had. Curiosity won out. â€Å"Well, why did you do it,then?† she asked. The boy glanced down at the ledge he was standing on. â€Å"He threw a stick at me. Wood. So I killedhim.† He shrugged. â€Å"Simple asthat.† He didn't throw it at you, Maggie thought, butthe boy was going on. `Z couldn't care less what he was doing to you.You're only a slave. He was onlya shapeshifterwith the brain of a bear. Neither of you matter.† â€Å"Well-it doesn't matter why you did it. It stillsaved both of us-† She glanced at Arcadia for con firmation-and broke off sharply. â€Å"Cady?† Maggie stared, then scrambled over therocks toward the other girl. Arcadia was still lying in the hollow, but her body was now limp. Her dark head sagged tonelessly on her slender neck. Her eyes were shut; theskin over her face was drawn tight. â€Å"Cady! Can you hear me?† For a horrible second she thought the older girlwas dead. Then she saw the tiny rise and fall ofher chest and heard the faint sound of breathing. There was a roughness to the breathing thatMaggie didn't like. And at this distance she couldfeel the heat that rose from Cady's skin. She's got a high fever. All that running andclimbing made her sicker. She needs help, fast. Maggie looked backupat the boy. He had finished with the handkerchief and wasnow taking the top off some kind of leather bag. Suddenly Maggie's eyes focused. Not a leatherbag; a canteen. He was tilting it up to drink. Water. All at once she was aware of her thirst again. Ithad been shoved to the back of her mind, a con stant pain that could be forgotten while she wastrying to escape from the slave traders. But now it was like a raging fire inside her. It was the most important thing in the world. And Arcadia needed it even more than she did.†Please,† she said. â€Å"Can we have some of that? Could you drop it to me? I can catch it.† He looked at her quickly, not startled but withcool annoyance. â€Å"And how am I supposed to getit back?† â€Å"I'll bring it to you. I can climb up.†`†You can't,† he said flatly. â€Å"Watch me.† She climbed up. It was as easy as she'd thought;plenty of good finger-and toeholds. When she pulled herself up onto the ledge besidehim, he shrugged, but there was reluctant respect in his eyes. â€Å"You're quick,† he said. â€Å"Here.† He held out theleather bag. But Maggie was simply staring. This close, thefeeling of familiarity was overwhelming. It was you in my dream, she thought. Not justsomebody like you. She recognized everything about him. That supple, smoothly muscled body, and the way he hadof standing as if he were filled with tightly leashed tension. That dark hair with the tiny waves springing out where it got unruly. That taut, grim face, those high cheekbones, that willful mouth. And especially the eyes. Those fearless, blacklashed yellow eyes that seemed to hold endless layers of clear brilliance. That were windows on thefiercely intelligent mind behind them. The only difference was the expression. In thedream, he had been anxious and tender. Here, he seemed joyless and bitter †¦and cold. As if hisentire being were coated with a very thin layer of ice. But it was you, Maggie thought. Not just somebody like you, because I don't think thereis anybody like you. Still lost in her memories, she said, â€Å"I'm MaggieNeely. What's your name?† He looked taken aback. The golden eyes widened,then narrowed. â€Å"How dare you ask?† he rapped out. He sounded quite natural saying â€Å"How dareyou,† although Maggie didn't think she'd ever heardanybody say it outside of a movie. â€Å"I had a dream about you,† Maggie said. â€Å"Atleast it wasn't me having the dream; it was moreasif it was sent to me.† She was remembering details now. â€Å"You kept telling me that I had to dosomething†¦.' ? â€Å"I don't give a damn about your dreams,† the boysaid shortly. â€Å"Now, do you want the water or not?† Maggie remembered how thirsty she was. Shereached out for the leather bag eagerly. He held onto it, not releasing it to her. â€Å"There'sonly enough for one,† he said, still brusque. â€Å"Drink it here.† Maggie blinked. The bag did feel disappointinglyslack in her grip. She tugged at it a little and hearda faint slosh. â€Å"Cady needs some, too. She's sick.† â€Å"She's more than sick. She's almost gone. There'sno point in wasting any on her.† I can't believe I'm hearing this again, Maggiethought. He's just like Jeanne. She tugged at the bag harder. â€Å"If I want to share with her, that's my business, right? Why should it matter to you?† â€Å"Because it's stupid. There's only enough forone.† â€Å"Look – !' â€Å"You're not afraid of me, are'you?† he saidabruptly. The brilliant yellow eyes were fixed onher as if he could read her thoughts. It was strange, but she wasn'tafraid, not exactly.Or, she was afraid, but something inside her wasmaking her go on in spite of her fear. â€Å"Anyway, it's my water,† he said. â€Å"And I saythere's only enough for one. You were stupid to tryand protect her before, when you could have gotten away. Now you have to forget about her.† Maggie had the oddest feeling that she was beingtested. But there was no time to figure out for what,or why. â€Å"Fine. It's your water,† she said, making her voicejust as clipped as his. â€Å"And there's only enough for one.† She pulled at the bag harder, and this timehe let go of it. Maggie turned from him, looked down at theboulders where Cady was lying. She judged the distance carefully, noting the way one boulder formeda cradle. Easy shot. It'll rebound and wedge in that crack,she thought. She extended her arm to drop the bag. â€Å"Wait!† The voice was harsh and explosive-andeven more harsh was the iron grip that clampedon her wrist. â€Å"What do you think you're doing?† the boy saidangrily, and Maggie found herself looking intofierce yellow eyes.