Identify the business risks at Sunshine. - Free Essay Example

Sample details Pages: 9 Words: 2665 Downloads: 3 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? Question 1 a) There are eight business risks which should be assessed by the management of Sunshine. Exclusive right risk In July 2009, Sunshine obtained exclusive rights to operate a car and passenger ferry route between Hong Kong and Shekou until December 2025. It about only 15 years exclusive right, it is relative short. Don’t waste time! Our writers will create an original "Identify the business risks at Sunshine." essay for you Create order Besides, it may be cancel in the future. Sunshine facing cannot extend the exclusive right risk. Entrance of competitor risk Between Hong Kong and Shekou has an alternative to driving 300 kilometers using the road. There have been several ambitious plans to build a bridge crossing Hong Kong to Shekou in the future, but they have failed due to lack of public support and the government funds only. If the road is build, then it will be a high business risk for Sunshine, since using the road is faster than boats. Sunshine is facing entrance of competitor risk in the future. Old boats risk Sunshine refurbished two 20-year-old boats to service the route. In this case, Sunshine facing boats are relatively old. Old boats need higher repair and maintenance costs in order to operate the business. Environmental Protection Regulations risk The boats have no yet met the emission standards of the Environmental Protection Regulations which will come into force in 2015. Sunshine sh ould be update the old boats or buy new boats. Both suggestions need a very high cost for Sunshine to meet Environmental Protection Regulations. Unused capacity risk Each boat makes three return crossings every day of the year, subject to weather conditions. Each has the capacity to carry 250 passengers and 40 vehicles. Sunshine carried 70,000 vehicles in the year ended 31 December 2013(2012:58,000; 2011:47,000). According to above, capacity to carry vehicles is 3ÃÆ'—2ÃÆ'—40ÃÆ'—365=87600 vehicles. Sunshine has over unused capacity during 2011-2013. Franchise risk Hot and cold refreshments and travel booking facilities are offered on the one-hour crossing. These services are provided by independent businesses on a franchise basis. The services quality very depends on the suppliers. Besides, extra income is not subject to Sunshine. Oil cost risk Oil cost will be affected by global environment, such as, required of oil consumption, objectives a nd needs, current and future business environment etc. So it may be rise or drop dramatically. The cost of oil may be very unstable. Weather risk Sunshine is facingpotential financial losses caused by unusual weather. Besides, it may be leading to shipwreck. Weather is an important element for boats industry. b) The risks identified in (a) could be managed and maintained at an acceptable level by Sunshine. Show as following: Exclusive right risk Sunshine should be maintain a good relationship with customers and good brand name in order to obtain the exclusive right to operate a car and passenger ferry route between Hong Kong and Shekou for a long time more easily. Besides, it can reduce the entrance of competitor. Thus, exclusive right will be not taken by another company. Entrance of competitor risk Sunshine should be built up their brand name in order to retain customer. Promote comfortable, conveniences and cheaper for customer. Besides, keep profession cu stomer service and maintain good customer relationship in order to defense the entrance of competitor. Old boats risk Old boats facing old machine problem, then it may be suddenly have some accident, thus Sunshine should be keep more frequency on repair and maintenance, in order to avoid the accident. Environmental Protection Regulations risk New Environmental Protection Regulations will be effect in 2015, Sunshine cannot avoid the event. Besides Sunshine can prepare early, because the cost of met the emission standards of Environmental Protection Regulations will be more expensive when near the regulation effect in 2015. On the other hand, early to improve the boats emission standard are more elasticity and cheaper. Unused capacity risk Unused capacity is an opportunity cost for the company, Sunshine should utilize the opportunity cost, and thus some of place can transport goods in order to utilize all unused capacity. Franchise risk Sunshine should be direc tly manages hot and cold refreshments and travel booking facilities, so Sunshine can easy to maintain the quality of services in order to keep the brand loyalty. Besides, Sunshine can earn extra income from the hot and cold refreshments and travel booking facilities. Thus, dont use franchise basis. Oil cost risk Oil cost will be affected by global environment, so implementation of an oil price risk strategy is needed. Sunshine can besthedgeagainst costly exposures to oil price risk.The best method is use oil price risk management services in order to decrease the oil cost risk. Weather risk Weather risk may be lead to Sunshine facing financial impact, so Sunshine should be use risk transfer instruments based on a defined weather element, such as temperature, rain, snow, wind, etc. in order to decrease the financial exposure due to the weather problem. Thus, Sunshine should buy insurance to cover the potential loss. c) Business risk identified in (a) may be linked t o a financial statement risk. Show as following, Exclusive right risk The exclusive right risk will be affect Sunshine going concern problem, because cannot obtain the exclusive right will be close the business Entrance of competitor risk Build a road crossing Hong Kong to Shekou will be decrease Sunshines revenue, because one more method crossing Hong Kong to Shekou. Old boats risk Old boats will increase repair and maintenance expenses. Environmental Protection Regulations risk Government Environmental Protection Regulations will lead to increase repair and maintenance expenses. Unused capacity risk Unused capacity will lead to decrease Sunshines revenue. Franchise risk Franchise basis may be decrease revenue, because supplier provides bad services and goods. Oil cost risk Oil cost increase may be increase material expense. Weather risk Unstable weather may be lead to decrease revenue. Question 2 a) Fred decided to inspect d ocumentary evidence that all shipments made by Top Shop Ltd. have been invoiced by matching shipping documents with invoices. So he has identified all sales invoices as the population from which he intends to take a sample. Select sales invoices to inspect documentary evidence that all shipments made by Top Shop Ltd is incorrect, since all sales invoices must have shipping documents. However, have shipping documents may not issue sales invoices. Thus, Fred should not take sales invoices for the sample test. Fred should take shipping documents as sample test. b) Since Fred plans to place a high degree of reliance on this particular control, he assesses the risk of overreliance at 5%. In previous years, a 10% level was used. High percentage of risk of overreliance is more irrelevance on their clients. On the other hand, Lower percentage of risk of overreliance is more reliance on their clients. According to this case, audit manager (Mike Wong) and audit partner (Mary Lee) indicate that a higher degree of reliance is planned in the current audit, so Fred assesses the risk of overreliance at 5% which is lower than 10% level was used in previous years is correct. c) Fred assessed the expected population deviation rate at 1% in current audit year. While the rate of deviation from prior audits has approximated 2% High percentage of expected population deviation rate is worst in its processing of sales invoices. On the other hand, Lower percentage of expected population deviation rate is better in its processing of sales invoices. In this case, Top Shop Ltd. has made several improvements in its processing of sales invoices; as a result, Fred believes that a lower expected population deviation rate is appropriate. Thus, expected population deviation rate decrease from prior audit 2% to current audit 1% is correct. d) Fred uses sampling tables to calculate s sample size of 156 prior years. In current year, more than 30,000 sales invoi ces are processed per year, and then he increases the sample size to 175 because the population of sales invoices is extremely large. In this case, population of sales invoices is extremely large, and then increase sample size from 156 to 175 cannot have a good sample test. Since, increase 175-156=19 is relative small. On the other hand, the population of sales invoices is extremely large, continuous increase the sample size is not significance for the test. e) The sum of sample rate of deviation of 2% and allowance for sampling risk of 2.5% equal to 4.5% is less than the risk of overreliance 5% by d), Fred concluded that the control is operating effectively and decided to rely on this control as planned to reduce the scope of his substantive procedures. In this case, Fred is incorrect and risk of overreliance is irrelevant to the sample rate of deviation plus allowance for sampling risk. He should use tolerable rate of deviation to compare with the sum of sample rate of deviation and allowance for sampling risk. Thus, sample rate of deviation of 2% and allowance for sampling risk of 2.5% equal to 4.5% is more than the tolerable rate of deviation 4% by d). The control is not operating effectively and cannot rely on this control as planned to reduce the scope of his substantive procedures. Question 3 a) These third parties more likely pursue litigation against Madeoff under common law because of the auditor breach of failure to exercise reasonable skill and care. b) Case (1) First Trust Bank First Trust Bank was specifically named in the engagement letter. Prior to committing the capital, First Trust Bank had reviewed Madeoffà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial statements and, based on the financial condition reflected in its statement of financial position, deemed Madeoff to be a qualified loan candidate. According to the case, First Trust Bank is primary beneficiaries with Allen which is known and named third parties. By law, prim ary beneficiaries as having this privity to contract, as a result, First Trust Bank will be treated same as client. First Trust Bank was specifically named in the engagement letter. Case (2) MoonTrust Bank MoonTrust Bank is not named in the engagement letter nor identified to Allen, Madeoff had previous business dealings with MoonTrust and maintained several accounts at MoonTrust. Based primarily on its prior relationships with Madeoff, as a result approved the financing to Madeoff prior to receiving the audited financial statements. In this case, MoonTrust Bank is foreseen beneficiaries with Allen which is known and unnamed third party. Because MoonTrust Bank is not named in the engagement letter nor identified to Allen, but based on its prior relationships with Madeoff. Case (3) Alice Lay Alice Lay request and review Madeoffà ¢Ã¢â€š ¬Ã¢â€ž ¢s audited financial statements and Allenà ¢Ã¢â€š ¬Ã¢â€ž ¢s report on those financial statements prior to providing funding. H owever, Alice had never entered into a loan agreement of this nature in the past. In this case, Alice Lay is foreseeable third parties with Allen which is unknown and unnamed third party. Because Alice Lay felt personal ties to Madeoff and was interested in its continued success, but never entered into a loan agreement of this nature in the past. c) Allenà ¢Ã¢â€š ¬Ã¢â€ž ¢s audit did not follow the HKSA but that it did not demonstrate a lack of minimum care or actual knowledge of the misstatements. Case (1) First Trust Bank According to contract law, First Trust Bank is a primary beneficiary with Allen. First Trust Bank was specifically named in the engagement letter. Besides, First Trust Bank had reviewed Madeoffà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial statements, and then based on the financial statement deemed Madeoff to be a qualified loan candidate. Allen did not follow the HKSA, he breach of common law duties, because he failure to exercise reasonable skill and care. Be sides, under contract law, Allen owed the First Trust Bank a duty of care, Allen was negligent and First Trust Bank suffered a loss as a result of the auditors negligence. Thus, Allen is liable to First Trust Bank. To conclude, First Trust Bank ability is to against Allen in potential claim. Case (2) MoonTrust Bank According to contract law, MoonTrust Bank is a foreseen beneficiary with Allen. MoonTrust Bank is not named in the engagement letter nor identified to Allen, however, MoonTrust Bank based on prior relationships with Madeoff, then reviewed Madeoffà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial statements and based on the financial statement qualified the loan. Same as case (1) Allen did not follow the HKSA, he breach of common law duties and failure to exercise reasonable skill and care. Although, MoonTrust Bank is not named in the engagement letter, Allen foreseen MoonTrust Bank will be based on the financial statement and qualified the loan. Because, based on primarily on its prior relationships with Madeoff. Under contract law, Allen owed the First Trust Bank a duty of care, Allen was negligent and First Trust Bank suffered a loss as a result of the auditors negligence. Thus, Allen is liable to third parties of First Trust Bank. To conclude, MoonTrust Bank ability is to against Allen in potential claim. Case (3) Alice Lay Alice Lay, provided $200,000 of capital to Madeoff. While her decision was primarily motivated by Madeoffà ¢Ã¢â€š ¬Ã¢â€ž ¢s role in the community and its corporate citizenship, besides, she did request and review Madeoffà ¢Ã¢â€š ¬Ã¢â€ž ¢s audited financial statements and Allenà ¢Ã¢â€š ¬Ã¢â€ž ¢s report on those financial statements prior to providing funding. However, she did not entered into any loan agreement to Madeoff before. In this case, although Allen did not follow the HKSA, he breach of common law duties and failure to exercise reasonable skill and care. However, Allen can prove he did not demonstrate a lack of m inimum care or actual knowledge of the misstatements, so there is no duty owed to Alice. Furthermore, they are absence of causal connection. Alice didnt rely on the financial statement make the decission. To conclude, Alice do not have ability to against Allen in potential claim. d) The parties could prove that Allen was aware that Madeoffà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial statements contained a material misstatement. In this case, an intentional act by one or more individuals among management, those charges with governance, employees, or third parties, involves the use of deception to obtain an unjust or illegal advantage. This is a fraud action. Relationship is irrelevant with the fraud case, when these parties prevail against Allen in a potential claim. These parties are eligible to claim the loss from Allen. To conclude, Allen is liable for these three parties potential loss. Question 4 a) Audit committees can enhance a listed companys corporate governance. Th ere are following eight benefits. Audit committees reviewing the financial statements on behalf of the Board, it improves the quality of financial reporting Audit committees can help risk management awareness and control which will reduce the opportunity for fraud, by create a climate of discipline. Non-executive directors sitting on the Audit Committee can contribute an independent judgment and play a positive role. Audit committees can help the finance director, and then finance director can get things done which might otherwise be difficult. Audit committees can provide a channel of communication and forum for issues of concern, so it can strengthens the position of the external auditor. Audit committees can provide a framework, when the external auditor can assert his independence in the event of a dispute with management. Audit committees can strengthen the position of the internal audit function, because it can provide high degree of independence from management. Audit committees can increase public confidence in the credibility and objectivity of financial statements and the Board. Reference: Auditing and Assurance in Hong Kong Third Edition (Peter Tze Yiu Lau and Nelson Chi Yuen Lam) P.818 b) Good self regulation can lead to absence of major corporate failure or fraud and government will be reluctant to impose regulations on industry. However, without regulated by law, then audit committees may be inconsistency of practice and standards. Audit committees may be disproportionate significance being given to its role and may impact on corporate performance. Thus, the role of the audit committee should be left to voluntary codes of practice and should be regulated by law in all countries. Reference: The Hong Kong University of Hong Kong, à ¢Ã¢â€š ¬Ã‹Å"Auditing I studyà ¢Ã¢â€š ¬Ã¢â€ž ¢ The Hong Kong University of Hong Kong, à ¢Ã¢â€š ¬Ã‹Å"Auditing II study unit 1-2à ¢Ã¢â€š ¬Ã¢â€ž ¢ Eilifsen, Aasmund., Auditing assurance services, McGraw-Hill Education (2nd international) Peter Tze Yiu Lau, Nelson Chi Yuen Lam, Auditing and assurance in Hong Kong, Pilot Pub, (3rd edn) ACT B417 TMA1 P.1

Examining the Villainous Characters of Shakespeares King...

King Lear by William Shakespeare is one of the ionic plays that depict behavior of mankind as either good or bad. As one of the earliest plays to show cast good vs. evil, King Lear paved the way for other such symbolic plays to written. Goneril, Regan, and Edmund, three of the characters from Shakespeare’s King Lear, are symbols of evil with in human society to its greatest entity. These three are the most highlighted villains in the play. A villain is a bad or evil person, usually the antagonist of the play. Throughout this play one question stands unanswered; who is the most villainous of the three. In order to decide which character is the most villainous, fist each character must be spotlighted. Goneril is the oldest of Lear’s†¦show more content†¦When her sister joins her at her house, she unites with her and tells her father â€Å"the old man and ‘s people can’t be well bestowed.† (Act. 2, Sc. 4, ll. 286-287) She sends father out in the treacherous storm. As a daughter Regan is expected to respect her father, even after he gave up all of his royal power. Her husband Cornwall was also blindsided by Regan’s actions. Edmund is the mean bastard son of Gloucester a noble man. Edmund’s father loves him as much as he loves his legitimate son Edgar. Edmund believes he is much better then his brother and would go to any length to prove that. First he gives his father a phony letter describing how Edgar wants to kill his father and how he will do it soon. Then Edmund wounds himself and then tells his father that Edgar did it. Edmund’s father Gloucester is so blind that he does not see Edmund’s true nature. Gloucester turns to Edmund and says, â€Å"Where is the villain, Edmund.† (Act. 2, Sc. 1, ll. 37) Edmund is still not satisfied with all the he has done so he decides to cause more ciaos. When the Duke of Cornwall came to visit Edmund, Edmund convinced him that Gloucester was a committing treason. Cornwall and his wife Regan asked Edmund to go seek his father so he can be properly punished. The least villainous of the three is definitely Regan because she had less evil activity. She was blinded by her feeling for Edmund that she did not see her

Financial Analysis of Axis Bank Free Essays

CORPORATE FINANCE END TERM PROJECT To study the Financials of ICICI bank, HDFC bank and Axis bank and to conduct Comparative Financial Analysis among them. UNDER THE GUIDANCE: Dr. ASHISH GARG PROGRAM COORDINATOR PGDM (FINANCE) Submitted by: Janmey Patel (202) Nikhil Arora (206) Shashank Mohore (228) Aniket Gupta (229) Parandeep Singh Chawla (231) TABLE OF CONTENTS Overview of Indian Banking Industry4 Types of Commercial Bank4 Public Sector Bank4 Private Sector Bank4 Foreign Bank4 Regional Rural Banks4 Overview of ICICI Bank 5 Overview of Axis Bank 5 Overview of HDFC Bank 5 Stock Analysis6 Return Risk Analysis7 Calculations:7 Terms:7 Risk7 Return7 Risk Returns Figures8 Covariance Correlations8 Terms8 Correlation Effect8 Covariance Correlation Figures8 Portfolio Variance Standard Deviation9 Portfolio Return Figures9 Portfolio Risk Figures9 Cost of Capital10 Cost of Debt10 Cost of Equity10 Cost of Debt Equity Figures10 Weighted Average Cost of Capital Calculations11 Comparative Analysis11 Leverages11 Leverage Figures12 Graphical Representation for Leverages12 P/E Ratio Analysis13 P/E Ratio Figures13 Dividend Policy Analysis13 Dividend Yield and Dividend Payout Ratio14 Conclusions and Inference14 Return14 Risk15 Choice based upon Risk and Return15 Cost of Capital16 Choice Based on Cost of Capital16 PE Ratio Analysis17 Leverage17 Dividend Policy18 Overview of Indian Banking Industry Types of Commercial Bank Public Sector Bank In case of Public Sector banks the major shareholders is Government of India. We will write a custom essay sample on Financial Analysis of Axis Bank or any similar topic only for you Order Now For example State Bank of India, Punjab National Bank, Bank of India etc. Private Sector Bank In case of Private Sector Banks the major Shareholders are Private Individuals. For example ICICI Bank, Axis Bank, HDFC Bank etc. Foreign Bank In case of Foreign Bank the major Shareholders are the foreign entities. For example Standard Chartered Bank, Citi Bank, HSBC etc. Regional Rural Banks In case of Regional Banks the major shareholders are Central Government, Concerned State Government and Sponsor Bank in the ratio of 50:15:35. For example Andhra Pradesh Grameena Vikas Bank etc. Overview of ICICI Bank ICICI (Industrial Credit and Investment Corporation of India) Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI bank is the 2nd largest bank in India by assets and 3rd largest by  market capitalization. Overview of Axis Bank Axis Bank was begun its operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i. e. National Insurance Company Ltd. , The New India Assurance Company Ltd. , The Oriental Insurance Company Ltd. nd United India Insurance Company Ltd. Overview of HDFC Bank HDFC (Housing Development Finance Corporation Limited) bank was amongst the first to receive an approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI’s liberalization of the Indian Banking Industry in 1994. HDFC Bank is the fifth largest bank in India by assets and the second largest bank by  market capitalization  as of march 31, 2012. Stock Analysis Bankex (Index tracking the performance of leading banking sector stocks) has grown at a compounded annual rate of about 31%. India’s gross domestic product (GDP) growth will make the Indian banking industry the third largest in the world by 2025. In coming years with its assets size poised to touch USD 28,500 billion by the turn of the 2025 from the current asset size of USD 1,350 billion. Return ; Risk Analysis Calculations: 1) The daily stock prices for the 3 banks for the duration of 5 years are taken from Nifty. 2) For the daily stock prices of the market we took the figures for 5 years of Nifty Bank. ) Formula for Daily Return Current Stock Price-Previous Stock PricePrevious Stock Prices 4) Average Daily Return is calculated by taking the average of Daily Returns. 5) Formula for Annualized Daily Return (1+Average Daily Return)249 – 1 6) Formula for Beta Covariance(Market, XYZ Bank)Standard DeviationMarket*Standard Deviation(XYZ Bank) 7) Formula for Annualized Stand ard Deviation (1+Variance(XYZ))249 – 1 8) Formula for Correlation Covariance(X, Y)Standard DeviationX*Standard Deviation(Y) Terms: Risk 1) Risk is the chance that an  investment’s actual  return  will be  different  than expected. 2) Risk  is usually measured by calculating he  standard deviation  of the  historical returns  or  average returns  of a specific investment. 3) A high standard deviations indicates a high degree of risk. Return 1. The gain or loss  of a security in a particular period. 2. The return consists of the  income  and the  capital gains relative  on an  investment. 3. It is usually quoted as a percentage. Risk ; Returns Figures Particulars| ICICI Bank| Axis Bank| HDFC Bank| Average Daily Return | 0. 001| 0. 001| 0. 00031| Standard Deviation | 0. 034| 0. 032| 0. 03393| Covariance (Nifty Bank, X)| 0. 001| 0. 001| 0. 00048| Standard Deviation (Nifty Bank)| 0. 025| 0. 025| 0. 02454| Beta | 1. 53| 1. 077| 0. 80000| A nnualised Daily Return | 0. 159| 0. 331| 0. 08| Annualised Standard Deviation | 0. 580| 0. 545| 0. 58| Annualised Standard Deviation (Nifty Bank)| 0. 402| 0. 402| 0. 40| Covariance ; Correlations Terms Correlation Effect 1. Relationship depends on correlation coefficient 2. -1. 0 ; r ; +1. 0 3. The smaller the correlation, the greater the risk reduction potential 4. If r = +1. 0, no risk reduction is possible Covariance ; Correlation Figures Covariance| ICICI Bank| Axis Bank| HDFC Bank| ICICI Bank| 1. 00000| 0. 00081| 0. 00058| Axis Bank| 0. 00081| 1. 00000| 0. 00052| HDFC Bank| 0. 00058| 0. 0052| 1. 00000| Correlation| ICICI Bank| Axis Bank| HDFC Bank| ICICI Bank| NA| 0. 00255| 0. 00174| Axis Bank| 0. 00255| NA| 0. 00167| HDFC Bank| 0. 00174| 0. 00167| NA| Portfolio Variance ; Standard Deviation Portfolio Return Figures Equal Weight Portfolio Return| Particulars| Return | Weight | Portfolio Return| ICICI | 16| 0. 33| 5. 333| HDFC | 8| 0. 33| 2. 667| AXIS | 33. 07| 0. 33| 11. 023| T otal | 19. 023| Portfolio Risk Figures RISK (%) | ICICI | 0. 58| HDFC | 0. 58| AXIS | 0. 55| Portfolio | 0. 3278| Cost of Capital It is the minimum rate of return the suppliers of capital would expect to receive if the capital were invested. Cost of Debt Cost of debt is calculated using the formula: cost of debt kd=interest X (1-t)debt 1) Interest is the amount paid by the company as a interest on the Debt in the current year. It is taken from the Profit ; Loss statement of the company. 2) Debt is long term debt which we have taken from the Balance Sheet of the Company. 3) The tax rate t is the corporate tax rate and is equal to the 33. 9%. Cost of Equity The Cost of Equity in this case has been calculated with the help of Gordan Dividend Model. Cost of Equity ke=Proposed DividendMarket Price per Share*Number Of Shares+Dividend Growth Rate Cost of Debt ; Equity Figures Particulars| ICICI Bank| Axis Bank| HDFC Bank| Interest (Interest Expenses)| Rs. 8,50,44,350. 00| Rs. 1,79,32,646. 00| Rs. 2,29,99,060. 00| Total Debt| Rs. 1,40,16,49,073. 00| Rs. 34,07,16,721. 00| Rs. 23,84,65,086. 00| Corporate Tax Rate| 30. 00%| 30. 00%| 30. 00%| Cost of Debt (kd)| 4. 25%| 3. 68%| 6. 75%| Equity Capital| Rs. 1,15,27,683. 00| Rs. 41,32,039. 00| Rs. 46,93,377. 00| Proposed Equity Share Dividend| Rs. 1,90,20,400. 00| Rs. 77,00,725. 00| Rs. 1,17,27,733. 00| Number of Shares| 13565154| 41,32,03,952| 23,36,704| Dividend Growth Rate (g)| 17. 95%| 14. 87%| 30. 06%| Cost of Equity (ke)| 18. 11%| 14. 87%| 31. 02%| Weighted Average Cost of Capital Calculations Comparative Analysis Leverages The leverage analysis consists of: 1) Operational Leverage defined by Degree of Operational Leverage. 2) Financial Leverage defined by Degree of Financial Leverage. 3) Total leverage defined by Degree of Combined Leverage. Operational Leverage (DOL) = % change in EBIT % change in Sales Financial Leverage (DFL) =% change in EPS% change in EBIT Total Leverage (DCL) = % change in EPS% change in Sales = DOL* DFL Leverage Figures Graphical Representation for Leverages P/E Ratio Analysis P/E ratio is calculated using the formula: P/E RATIO=Current market price of share EPS P/E Ratio Figures Dividend Policy Analysis Dividends paid by a firm are measured using one of two measures. 1) Dividend Yield: Which relates the dividend paid to the price of the stock. Dividend Yield=Annual Dividend per Share Market Value per Share 2) Dividend Payout Ratio: Relates dividend paid to the earning of the Firms. Dividend Payout Ratio=Dividend Distributed Total Earnings Dividend Yield and Dividend Payout Ratio Particulars| ICICI Bank| Axis Bank| HDFC Bank| Dividend Paid (000’s)| Rs. 19,013,434| Rs. 6,697,611| Rs. 7,695,463| Number of shares| 13,565,154| 413,203,952| 2,336,704| Dividend per share| 1. 402| 0. 016| 3. 293| Intrinsic value per share| 890. 2| 1146. 2| 519. 85| Dividend Yield| 0. 157%| 0. 001%| 0. 634%| Earnings (000’s)| Rs. 103,860,000| Rs. 74,308,700| Rs. 89,504,000| DP Ratio| 0. 183| 0. 090| 0. 086| Retention Ratio| 0. 817| 0. 910| 0. 914| Conclusions and Inference Return As one can see from the above chart , Axis Bank offers the highest returns per annum at 33% , followed up by ICICI and HDFC Bank at 16% and 8% respectively. It can be safely concluded that Axis Bank is the best option to invest in. Let us now have a look at the Risk analysis before we go any further. Risk The following chart depicts the Risk witnessed by each of the Banks. As one will notice, each of the three Banks i. e. ICICI , Axis and HDFC Bank belong to the same risk class. Risk of ICICI and HDFC Bank is equal at 58%, while that of Axis Bank is little lower at 54%. There is not much to choose between the Banks when it boils down to Risk. Choice based upon Risk and Return Based upon Risk and Return Assessment Axis Bank stands out to be a clear choice. On one hand it offers returns which are twice that of ICICI Bank and four times in comparison to HDFC Bank, on the other hand, its risk is marginally lower than that of the other two Banks, which makes AXIS Bank to be the standout choice. Cost of Capital The Cost of Capital of each Bank is depicted in the following chart: As one can see from the above chart The total cost of Capital for ICICI Bank averages out to be 8. 42%, Whereas Axis Bank has a WACC of 8. 15 % and HDFC bank has its cost of capital in excess of 20%. HDFC Bank needs to substitute its Equity and reserves with more of Debt, if it wants to lower down its WACC. Cost of Capital for HDFC Bank is high primarily owing to its huge Cost of Equity which is more than 30%. It needs to substitute more of debt in its Capital Structure if it wants to reduce its hurdle rate. Choice Based on Cost of Capital If one is viewing the affairs og the company based on the Cost of Capital, HDFC gets eliminated without any second thought. It needs to bring down its Cost of Capital if it wants to sustain in the long run. While on the other hand there is not much to choose between ICICI and Axis Bank , as both of them have almost the same hurdle rate close to 8%. PE Ratio Analysis The PE Ratio of ICICI and Axis Bank is very much comparable. ICICI Bank has a PE ratio of around 15 , whereas, the same for Axis Bank Hovers around at 11. One can easily draw a conclusion that investors are willing to pay more for ICICI Bank and also expect a higher growth rate in its earnings in the future. Following Chart depicts the comparative analysis of ICICI Bank along with HDFC Bank and ICICI Bank. It can be clearly seen that the PE ratio of ICICI Bank and Axis Bank are Comparable. But, the PE Ratio of HDFC exceeds 120. One can safely draw a conclusion that the Market Price of HDFC Bank is highly overpriced compared with the Industry average and one can expect a downfall in its share prices in the near future, because such high level of PE Ratio cannot be sustained in the long run. Leverage The Position of Leverages for each of the Banks depict the same story. Following chart will substantiate it: Each of the Banks has a operating leverage lower than 1 , which implies that EBIT is not increasing in the same proportion as the sales of these Banks. Even the degree of financial leverage and the degree of combined leverage of each of these three Banks is comparable and there is not much to choose from when it comes to leverages. Dividend Policy When it comes to total dividend Paid by the Bank, ICICI Bank exceeds the two other Banks with quite a margin. The following Chart depicts the situation more comprehensively: As one can see from the Chart ICICI Bank is the clear leader when it comes to the amount of dividend paid, while there is not much to choose between Axis Bank and HDFC Bank. Total Amount of Dividend Paid doesn’t show the true picture as , it has not been adjusted for number of shares. In other words , Dividend per share will show the appropriate picture. Following chart will depict the amount of dividend paid by each bank per share. As one can see clearly from the graph above , it is the HDFC Bank which is more liberal while declaring the dividend vis-a-vis ICICI and Axis Bank. HDFC pays dividend in excess of Rs 3 per share. ICICI pays a dividend just exceeding a rupee on a share. While, Axis Bank doesn’t even pay 50 paisa on a share. From Investors point of view who wants a steady flow of Income, HDFC stands out to be the most logical choice of Investment. Such an Investor should obviously resist and desist from investing any amount of money in AXIS Bank. How to cite Financial Analysis of Axis Bank, Essay examples

Protecting of your confidential information - Myassignmenthelp.Com

Question: Discuss about the Protecting of your confidential information. Answer: Introduction This report discusses ecommerce security and proposes development of a secure ecommerce system for which a plan has been proposed using an integrated methodology for the development. The paper covers the problem statement, research objectives, needs for the research, conceptual framework, research questions, methodology for development, data collection methods, and the work break down structure of the ecommerce development project. Rationale Problem domain Ecommerce is a fast growing field that has emerged over past few years only. Ecommerce security concerns are also on rise and thus, security management has become one significant component in the ecommerce development and implementation projects. Attackers use different strategies and come up with new ones every time such as code injection for stealing credit card data. Several security dimensions are affected by these security attacks on software such as system integrity, accuracy, authenticity, availability, confidentiality, privacy, and repudiation. Ecommerce technologies are constantly changing and thus, there is an increased demand for enhancing the security solutions that can meet the demands of ecommerce users (Ma, 2008). Purpose and justification The reason for this paper may be on investigate the most recent patterns What's more innovations in the field from claiming ecommerce security. Ecommerce security being An significant territory from claiming worry today with expanding reception of the engineering organization everywhere throughout the world, a investigation of the thing that security advances alternately progresses are going on on ensure ecommerce starting with security dangers might be an crucial range from claiming ponder. Done UK, the number from claiming ecommerce clients have developed should 92% of the populace and which puts an immense amount from claiming individuals In hazard Assuming that ecommerce platforms need aid not great ensured(OECD, 2008). Sponsor or Supervisor recommendation Exploration of the threats and advanced in the ecommerce security management was recommended by the supervisor. Research Questions What security threats are ecommerce systems facing today? What solutions are used by companies for managing security of the ecommerce system? What latest advances are seen in the field of ecommerce security? How can we develop a secure ecommerce system?(Optus, 2016) Conceptual or Theoretical Framework There need aid mixed bag from claiming security norms that are utilized for securing ecommerce platforms for example, transport layer security (TLS), XML encryption, XML signature, XML enter management specifications, security assertions markup language, and Kerberos(Varmour, 2011). TLS is connected will transport layer for information correspondence Also it gives security will ecommerce administration through authentication, secrecy Furthermore integument. TLS may be a standout amongst those old protocol for Building security in the web space However, TLS layer need confronted security strike for example, renegotiation, padding, breaches, RC4, truncation, et cetera. Later to 2002 went XML encryption which might have been created by W3C Furthermore included encryption from claiming documents What's more information components utilizing calculations like DES, AES, Furthermore RSA. (Security Awareness Program Special Interest Group, 2014). However, this information Might be decrypted Eventually Tom's perusing sending changed cipher-texts. XML marks were afterward included. Similarly, as a security layer that included transmitted message confirmation. However, the framework might have been discovered should be mind boggling Also posture genuine dangers On not executed legitimately. XKMS gives interface the middle of XML What's more KPI in the web space (TrustSphere, 2012). However, it Additionally confronted security dangers in DDOS What's more Answer strike. SAML might have been a open standard code In view of XML that given exceptional verification and commission. Kerberos, a Confirmation protocol gives shared verification the middle of clients What's more servers Furthermore secures frameworks against eavesdropping Furthermore Answer strike. (Luhach, Dwivedi, Jha, 2014). Methodology Research and Systems Development method Figure 1: Integrated Security System Development Framework for Ecommerce (Youseef Liu, 2012) An secure ecommerce improvemen schema might aggravate utilization of a few advancement methodologies similar to amazing programming, coordinated will be What's more security building methodologies. Standard improvement methods in amazing modifying might not have the capacity to completely coordinated circuit those parts of security in the advancement and thus, a intenerated methodology is suggester which incorporates those security viewpoints toward each stage of the improvement transform utilizing i*language(MYOB, 2016). A schema camwood a chance to be suggested which might comprise for three parts including business earth modeling, majority of the data engineering organization framework modeling, Also may be security modeling (Youseef Liu, 2012). Data collection To the advancement of the security framework to ecommerce, An investigation might a chance to be led with respect to how coordinated framework advancement approach meets expectations to which ICT journals, security merchant websites, and exploration reports might a chance to be investigated What's more examined. Grade information might Additionally make gathered from the security experts on comprehend how practically framework camwood worth of effort Furthermore might make produced(Optus, 2016). Ethical Issues Same time gathering grade information starting with security professionals, their customized certain majority of the data might not be recorded so as on look after secrecy Also protection. Also, they might make educated something like the purpose behind directing Scrutinize Furthermore might be given certification that their reactions might best be utilized for those academic motivation(MYOB, 2016). Compliance Requirements The standards defined in a security framework must be complied with. Analysis of data A content analysismightbeutilizedontheinformationwiththought of an understandingoftheadvancementprocedurefromclaimingsecureecommerce framework What's more accordingly; anarrangementmightmakesuggestedcharacterizingpartsforsecureecommerce website. Project Plan Deliverables The project deliverables include: Recommendations on security features that are needed for ecommerce website Security concerns and the solutions to take care of them Recommendations on the development framework to secure ecommerce system Documentation of the process of secure ecommerce system development Work breakdown structure (WBS) 1.0 Literature Review 1.1 Ecommerce 1.2 Security Risks 1.3 Security solutions 2.0 SDLC 2.1 Integrated system 2.2 Study of components 3.0 Data gathering 3.1 secondary data 3.1.1 Journals 3.1.2 Research report 3.1.3 Website 3.2 Primary data 3.2.1 Interviews 4.0 Data analysis 4.1 content analysis 4.2 data analysis 4.3 Framework development 5.0 Prototyping 5.1 security components 5.2 development methodology 6.0 project closure Risk Analysis Risk analysis displays distinctive types of dangers that can happen same time completing those examination venture alongside their likelihood about occurrence, those level about sway they could foundation once one task and the reaction arrangement to manage them. Risk Probability Impact Response plan Information may not be sufficient to design an appropriate solution Medium High Experts can be contacted to fill the information gap in the process Delays spilling over the work beyond timelines. Medium Medium Increase the speed of the remaining work to ensure that the final deadline of the project is met Duration This development project would take 3 months to conduct a research, one month for collecting data needed for development, 1 month for analyzing the collected data and 15 days for the creation of the security framework for the ecommerce website. Gantt chart References Luhach, A. K., Dwivedi, D. S., Jha, D. C. (2014). DESIGNING A LOGICAL SECURITY FRAMEWORK FOR E-COMMERCE SYSTEM BASED ON SOA. International Journal on Soft Computing (IJSC) , 5 (2), 1-10. Ma, D. Q. (2008). A Review of Emerging Technology Trends in E-Commerce. International Technology Management Review , 1 (2), 2-15. MYOB. (2016, September 13). Company file security. Retrieved from MYOB: https://help.myob.com/wiki/display/ar/Company+file+security MYOB. (2016, September 13). Protecting your confidential information. Retrieved from MYOB: https://myob.com.au/myob/australia/myob-security-recommendations-1257829253909 OECD. (2008). Malicious Software (Malware): A security Threat to Internet Economy. OECD. Optus. (2016). Security in the cloud. Optus. Security Awareness Program Special Interest Group. (2014). Best Practices for Implementing a Security Awareness Program. PCI. TrustSphere. (2012). Advanced Security Methods for eFraud and Messaging. TrustSphere. Varmour. (2011). Pathway to Multi-Cloud Security Architecture. Varmour. Youseef, A., Liu, F. (2012). A new Framework to Model a Secure E-commerce System. International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering , 6 (2), 159-164.

Analysis of Toni Morrisons essays

Analysis of Toni Morrison's essays Toni Morrisons premier novel, The Bluest Eye, is a tale of one girls battle against herself and the society surrounding her. The author tells the story of young Pecola Breedlove growing up with a vast amount of hatred around her in order to display the impact society has on people. Society pressures the ugly to be beautiful, and a little black girl to pray nightly for two bright, blue eyes to replace the dullness of her own brown ones. The blue eyes Pecola dream for obviously represents her wish to be white. Blue eyes are associated with beauty and only the fair-skinned can obtain this eye color. Being a black girl in the 1940s is an automatic shun in society when this books takes place. Not to mention the Breedlove family consists of Pecolas father Cholly Breedlove (whom eventually rapes and impregnates her), an unloving mother named Pauline, and a juvenile delinquent brother named Sammy. Pecolas family is part of the reason she becomes a social outcast, even though the poor girl has actually never done one thing against her little town. Morrison shows the way the general public can be bias towards an individual they may have never even talked to just because of family issues, their race, or their level of attractiveness. These reasons cause Pecola to live in dissatisfaction of herself. For instance, on her way to the store to buy some candy Pecola admires some dandelions, Why, she wonders, do people call them w eeds? She thought they were pretty (Morrison 47). At this point, Pecola identifies with the yellow-headed flowers, because herself is considered a weed to other people. With thoughts of dandelions in mind, Pecola enters the penny store only to be treated as she is some sort of animal. She looks up at him to see the vacuum where curiosity out to lodge. And something more. The total absence of human recognition...she has seen it lurki ...

USA independences essays

Canada/USA independences essays The signing of the Declaration of Independence on July 4, 1775 severed the Thirteen American colonies not only from Allegiance to the British Crown, but also from its neighboring colonies to the north. Having declared their independence, Americans were then required to win it on the battlefield in what became known as the Revolutionary War. This was a turning point in North American history, for until this time, the two nations, now known as Canada and the United States, had both shared common occurrences. It was not until Confederation in 1867 that Canada loosened their ties with Britain and followed the American lead in becoming an integral part of North America. With both Canada and the United States sharing similar roots, one may question if Canadas distinct identity is real or imagined. Through careful examination, it becomes obvious that Canada, its people and their ideals are indeed unique from those of the United States. To begin, the formative events of the two countri es were very different, displaying varying national values and perspectives. Also, the United States and Canada exhibit differing approaches towards social security and health care. Finally, the two nations display distinct attitudes in regards to cultural diversity, with the portrayal of Canada being that of a cultural mosaic and the United States as a melting pot society. Although Canada and the United States may share similarities, there have been consistent patterns of difference between the two nations. Many of these distinctions originate from the formative processes of each country. The American Republic was born from Revolution while Canada followed a different, more negotiated path to political maturity. Americans tended to be suspicious of state authority. This attitude led to the adaptation of the Bill of Rights, which put a strong emphasis on due process and judicial power. Canadian society is quite diffe...

Bush Administration and sanctions on policy of torture on detainees Research Paper

Bush Administration and sanctions on policy of torture on detainees - Research Paper Example 7 6. Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 7. Works Cited†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦ 8 Torture is an unquestionable crime and cannot be justified with any rationale, no matter how reasonable it may sound. Torture is prohibited by all civilized societies and both the US and International laws hold it in strict abhorrence. According to the US as well as International laws, those convicted of assault and tortures are liable to be punished. The US code lays out strict rules on torture and all other acts that come under its purview, with clear orders on the punishments and penalties that should be meted out to its violators. In spite of such regulations, it is alleged that the US administration under the presidency of George W. Bush, indulged in torturing detainees alleged for terrorism and other crimes. The entire world expressed outrage over such US policies, blaming them to be the reason behind the increased insurgence of terrorism and the lack of support from allies, however, it is surprising to note that many others justified it as being legal and the need of the hour. The Bush Administration refuted all such claims, saying that no such policies on torture of detainees were sanctioned, but the piling list of evidences against it speaks otherwise. This calls for a formal inquiry by the Obama Administration as well as the US Justice Department into all the policies sanctioned under the Bush Administration. If President Bush and all the other policy makers are convicted of resorting to torture, they must be brought to book and should be penalized with full justification to the US penal code, failing which wou ld be the greatest failure of law and order in our times. According to the UN Universal Declaration of Human Rights, the Third and Fourth Geneva Conventions, the Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment and the International Covenant on Civil and Political Rights, torture is a punishable act and the violators of these are bound to be penalized. Accordingly, the Bush Administration is punishable by law, as its secret policies on torture are not secret anymore. Tortures under the Bush administration According to Taylor1, the US government recognized all the international conventions against torture. Nevertheless, the Bush administration secretly sanctioned torture methods for the interrogation of detainees of its â€Å"War on terror† post September 11. It justified such acts as being legal and â€Å"morally permissible†, when they became known in public. The Bush administration sanctioned water boarding, forced nudity, slee p deprivation, temperature extremes, stress position and prolonged isolation as "safe, legal, ethical, and effective" enhanced interrogation techniques which were previously considered torture and forbidden by the United Nations Committee Against Torture1. Torture became a state policy of the United States under Bush administration wherein prisoners of War on Terror were tortured as a matter of policy and practice at Abu Ghraib prison by American troops as well as more experienced torturers (Masciulli, Molchanov and Knight 349). According to news reports, President Bush had authorized the use of waterboarding2 and other inhumane tortures against criminals in its war on terror. Innumerable evidences of torture are

Case #5 AP Courses Essay Example | Topics and Well Written Essays - 500 words

Case #5 AP Courses - Essay Example The scale of marking is quite simple. Each exam would be marked out of 5 with 3 being the lowest to crawl into some universities and a score of 4 or 5 being acceptable to the majority. With me being the leader and school counselor, and the one to make or break their 'dreams', the whole responsibility rests on my shoulders. To start off, the first question which would pop into my head would be: 'exactly how much did these students score' Since the most common score of acceptance is 4 out of 5, it's a necessary question to know how that by how much they are lagging behind. It is also the reason that I will assume here that my institution accepts a 4 out of 5 score for passing. Now, the most important fact to take into consideration is this; these students have consistently been on the honor roll throughout their academic careers. This proves that they are hard working and dedicated students keen upon learning. This also makes the case tilt towards their side of the argument because I should not make a decision which will seem unfair to them, in which case there might be serious consequences like they might get highly de-motivated and stop studying altogether.

MGT 647 Individual Project 5 Assignment Example | Topics and Well Written Essays - 750 words

MGT 647 Individual Project 5 - Assignment Example he departments so that there could be a streamline of work flow and accountability ensured to both the project leaders and management of project done in an efficient manner that conforms to organization requirement. By undertaking the activities, Advance Corporation was achieved and improve in many ways. By training the labors, there was employment of highly qualified workers who could articulate major issues in the company hence there was a smooth flow work and reduced burden on behalf of the managers since quality was guaranteed (Russell, 2007). The departments who were understaffed before could improve work since more workers were allocated to them. Through the adoption of the videoconferencing facility, management of the project and coordination became easier since there was sharing of information at all levels of the project cycle reducing chances of not spreading information from one department to another. Movement was also made easier since the geographical barriers were greatly minimized since the facility enabled the managers to take control and coordinate work at any place without interference as they either travel, away on other company duties or get meeting information at any place (Gido & Clements, 2012). By structuring the duties of the departmental heads, especially the research and development,t and that of sales reduced the problems that had emanated previously caused by either the confusions in responsibilities and disagreements to a more continuous flow of work with distinctive work procedures leading to a more efficient and faster work. Differences in opinions acts as the generation of ideas as to how to articulate issues as alternatives to the best solutions. After a thorough discussion with the two managers, it was easier for them to understand one another and acts with flexibility which provided a good environment to the work process in the organization. By implementing the actions and deeds the company was able to achieve its objectives

The Serious Dangers Of Using Facebook English Language Essay

The Serious Dangers Of Using Facebook English Language Essay After reading countless of hubs that talk about the joys and features of using facebook. Some pointing out the ways on how you can market and network on there, while others talk about some of the interesting features like the games and stuff. Indeed, it seems Facebook has become the largest online social network in the world, even over its competitor Myspace that was originally the first online social network. However, Facebook has mastered Myspaces concept and turned into something more. Now, with a new film coming out called, Social Network, it seems Facebook is well on its way to becoming almost as big of a site as Google. However, with all good things, theres also a lot of dangers people arent aware of on Facebook that they need to know. Sure, other hubs will tell you about the joys and features Facebook promises but in this hub, youll find out the cons to using Facebook and what steps you can do to protect yourself online. http://s1.hubimg.com/u/3842068_f520.jpg http://s2.hubimg.com/u/3842081_f520.jpg FBI Wiretapping In light of the horrific events of 9/11, the government started wiretapping certain phone lines and internet networks to monitor certain people that might be involved in terrorist activities. Therefore, you shouldnt post anything on Facebook that might be deemed questionable, even if you were only saying it as a joke. Seriously, just joking around with people, on your public Facebook page, about a bomb OR saying how you wish you could blow up or physically hurt someone, can be used against you. As the FBI according to various sources on MSN and yahoo, claim that the FBI has several dummy accounts online, and Facebook is one of them. This brings me up to my next point, everyone you meet on Facebook, unless you met them face to face, not all of them are going to be who you claim they are. Therefore, if you admit to something illegal to a person you just met that same day on Facebook, then that person could put out a warrant for your arrest, as he/she might be an FBI agent spying on you. Thats right. FBI agents do have dummy accounts on Facebook so unless your absolutely sure the person your talking to is trustworthy, then its probably not a good idea to tell this person anything more than they need to know about you. Nor is it a good idea to use questionable humor even if you dont mean it like, hey lets go out and smoke some weed. Yeah, just pray the guy/girl your talking to isnt an FBI agent if you say that, as your so going to jail for even joking about something like that. http://s2.hubimg.com/u/3842129_f520.jpg http://s1.hubimg.com/u/3842132_f520.jpg http://s4.hubimg.com/u/3842135_f520.jpg Stalkers and Child Predators As I said earlier, not everyone online is who they say they are.   Thats why this is extremely important to remember.   As the film, Social Network, suggests, Facebook was originally designed for people to check up and keep in touch with their friends.   Although you dont necessarily have to limit the number of friends you have on Facebook to just the people you know in real life, but you can add anyone you might meet online as well.   Heck, some groups use Facebook to do online networking like indie bands or even hubpage users on hubpages.   This is why you should be careful of what you say online.   Sure, you can always resolve this issue easily by setting your profile from public to private when you adjust your settings.   This way only your friends that are on your Facebook page will see all your posts, and it might be best to only add people that you know in real life.   However, if you like to use Facebook for online networking for your hubs and other affiliated sites, then please be careful not to give away anything specific like your address, full name, or even where your going on vacation.    Trust me, according to various online reports, stalkers and child predators do monitor public Facebook pages so if you say something along the lines ofHey, me and my four year old son are going to go to the central park zoo, in Philadelphia at 3:00 p.m, then your just asking for trouble.   You might as well just say, Hey, any of you muggers, rapist, pedophiles and serial killers want us, then meet us at the central park zoo, in Philadelphia at three.   You see how that works?   Therefore, you should never give away anything specifically about yourself online that would allow a dangerous person to follow you.   Sure, if you want to keep your Facebook page public because your trying to promote your indie band, and you want to have complete coverage of your shows and tours for your fans, then thats fine.   Just dont give away anything too personal that would allow a stalker to follow you like what specific hotel you might be staying at on tour, or a mailing address.   If you must put an address to receive fan mail, then list an e-mail or a P.O. Box.   This way, you can still receive fan mail, without the dangers of people knowing where you live.   Ã‚      http://s4.hubimg.com/u/3895783_f520.jpg http://s1.hubimg.com/u/3895784_f520.jpg http://s2.hubimg.com/u/3895785_f520.jpg Burglars and Robberies This brings me to my next point, robberies. Its no secret that burglars will often scout neighborhoods for which homes have the most money, as well as the ones that are the safest to rob. In fact, most burglars will never rob a house that has a big dog protecting it or if they know theres a strong possibility of getting caught, as burglars dont want to risk getting hurt. This is just another reason why you should never put your full address or name on Facebook, as it only makes it easier for burgulars to find out where you live and monitor your house frequently, to figure out the best times to rob you. Of course, it doesnt help when you type down your schedule on social networks like Hey Al, Im going to be leaving out of town tomorrow on business. I wont be back for about a week, so Ill call you later when I get back. Well, thats just asking for even more trouble right there. As you might as well say something like, Hey, any of you want to rob my house while Im gone, then feel free to, as Ill be gone for a whole week. You get the picture? Hence, you should never leave your schedule on Facebook, nor your full name and address, as thats just asking for trouble. Then again, as I said before, you can always set your Facebook account to private to avoid the issue entirely but if you like having a public profile for networking your business or hubs, then it might be best not to disclose your schedule on Facebook. However, since I know many people use Facebook to promote their charity events and/or indie bands, and may need to put up schedules to organize their events. Or in the case of indie bands, theyll probably want to give their fans places where to catch some of their concerts, which is understandable. The only advice I can give you if thats the case, then just dont put down your home address or full name. This way, you can still give your fans and audience what they want and need to see you, without compromising your safety or valuables. http://s1.hubimg.com/u/3842160_f520.jpg http://s4.hubimg.com/u/3842163_f520.jpg http://s3.hubimg.com/u/3842198_f520.jpg http://s4.hubimg.com/u/3914415_f520.jpg Dont Say Or Post Anything That Could Be Used Against You On Facebook Have you ever read the funny posts people put up on their Facebook pages? You know the ones that say things like, Im calling in sick because I just dont feel like it, so Im going to go smoke some pot, or something like, I hate my freaking job, and my boss is damn moron that I wish he would drop dead. You know the ones Im talking about, right? Well, regardless of how you feel about your job, the reality is we all work out of necessity or most of us anyway. Therefore, you should never say or post anything on Facebook that could incriminate you in anyway. As employers often use Facebook to determine which employees to fire and who to hire. Yes, employers do use Facebook to check up on their employees, according to various online reports on yahoo. Like there was one report of a woman getting canned from a restaurant just for complaining about customers, and another one about how an emergency dispatcher was fired for posting drug use on Facebook. Click on here if you want to read more about it. Sure, I know theres probably a lot of people who called in sick in the past that werent really sick (you know who you are), but they called in due to an emergency or they were just fatigued. Thats understandable. However, if your employer reads that, then it could constitute grounds for you to get fired or get into serious trouble. Its essentially the equivalent if you called in sick to see a movie with your boyfriend/girlfriend, and your boss saw you that same day you called in. What do you think would happen if he caught you? Well its basically the same thing if you post it online publicly. Of course like the last topic, you could always set your profile to private and avoid this issue. This way if you do put some posts similar to the ones I just gave you, then nobody will see it except for your friends and your boss will never have to know. Unless, theyre already on your friends list, then your probably screwed if you do. However, if theyre not, theres nothing obligating you to add them. If they send you a friend request, you can always decline it, and legally they cant hold it against you at all. After all, your free to add anyone you like on Facebook as your friend, and theres nothing in a job description that requires you to be friends with your employer online. If your employer asks why, you can always say because you like to keep your relationships at work professional. You may not like your job and hate your boss but unless you have a private profile on Facebook, then its best to keep your mouth shut online about that. After all, you wouldnt want to give your boss any leverage to use to fire you if your not already in hot water with him/her as it is. Secondly, if your involved in illegal activities like illegal use of drugs, illegal immigration or whatever (NOT THAT I CONDONE SUCH ACTIONS, AS I DONT SUPPORT ILLEGAL ACTIVITIES), then the worst thing you can do is post it on Facebook. Not only can your boss legally fire you for posting that online, but he can also report you to the local authorities over it. However, if you like to use Facebook for a lot of online networking for your hubs, indie bands, or sites that you put up, then just be mindful of what you say. AND, make sure your friends dont post anything that could be incriminating either. As anything they post like, Hey, your right, your boss is a douche and thanks for calling in sick so we could go pick up some girls/guys, can AND will be used against you if your employer reads it. Hence, make sure your friends understand this as well if you have a public profile not to post anything you dont want to be used against you. After all, anything you say about your boss or company that you work for can and will be used against you by your employer. Dont think because its Facebook and that your talking to your friends on there, that your entitled to say what you want. Besides, if your profile is public, everyone can see everything you type too along with your friends. Therefore, you need to be very careful about what you post on your p ublic profile and if you must talk to one of your Facebook friends, then its often best to do so using the instant messenger Facebook provides. Normally, on the bottom right corner of your Facebook screen, after youve logged in, you can click on the chat icon. Once you click it, itll show you which of your friends are online, then you can click on the name of your friend that you wish to talk to. Once you do that, everything you and this friend say to each other will not show up on Facebook, and youll be able to talk privately. http://s2.hubimg.com/u/3842181_f520.jpg http://s3.hubimg.com/u/3842182_f520.jpg Hackers Do I really need to elaborate on this?   Look, its no secret that we all forget our passwords to various sites.   It happens.   However, you should never leave like a clue on your profile that any hacker could figure out.   Again, if you choose to have a public profile (as private ones wont have this issue), then no matter how clever you think your little password hint is, its never a good idea to have it on your public profile.   Even if you dont even say its part of your password, and your password is some answer to a riddle you put up on your profile.   Chances are, a hacker will try to figure it out.   Leaving a password clue on your profile, no matter how cleverly hidden, will still give a hacker ample room to try to hack into your account.   Once they do, we could be looking at not only the issue of your account getting hacked, but its a good way to have your identity stolen online.   Therefore, if you must have a password hint written somewhere, then write it on a piece of paper and put it somewhere safe.   Or you can do what I do, just make it an easy to remember password that only YOU would know or even remember that you use frequently. http://s1.hubimg.com/u/3842216_f520.jpg Final Thoughts Look, I hope this hub doesnt discourage folks from using Facebook, as it can a be wonderful site.   Seriously, its not only a great way to make new friends, but its also a great place to keep in touch with old ones.   Heck, you can even use it to build up your social networking to promote your business or hubs on there.   However, it also has its flaws and can potentially hurt you if your not careful.   Thats why you should never post anything too personal on Facebook that could potentially get you hurt either financially or physically.   Sure, we may all hate bosses sometimes, but you should never publicly say anything on a website where it could cost you; your job.   Or anything that could lead a predator to find you and your child.   Trust me, Facebook is an easy tool that can be used against you if your not careful with it.   Its like Uncle Ben said when Spider-Man made his debut in Marvel Comics: With great power, comes great responsibility.

Irony, Satire, Symbols, and Symbolism in Voltaires Candide :: Candide essays

Use of Irony, Satire, and Symbolism in Candide In the novel, Candide, Voltaire uses many literary writing tools to prove the points in which he believes. Some of these many literary tools are irony, satire, and symbolism. Through these tools, Voltaire proves that greed is a universal vice, and usually ends in ones own destruction. Voltaire strongly emphasizes his pessimistic view throughout the story. During Chapter 10, he uses his philosophies, as well as other literary tools, to present greed as a devastating factor of society's corruption. For example, Cunegonde found that someone had stolen her money and jewels. "Who could have stolen my money and diamonds? ...I strongly suspect a reverend Franciscan who slept in the same inn with us last night in Badajoz."(Pg. 40) She was sure that the thief was the reverend; how is it that money can makes someone so holly, corrupt enough to make a sin? Voltaire uses irony here to show the pessimistic view of greed overcoming a holly person's wholesomeness. Voltaire satirized philosophical optimism. He used exaggerations and berated all the petty inhumanities of society. This is illustrated in the scene where Cunegonde was ready to marry a man for money, not on love. Â  "'Madam, you have seventy-two years of nobility, but not one penny. You now have the chance to become the wife of a man who's the greatest lord in South America and has a very handsome mustache." (Pg. 51) As Cunegonde ponders whether or not to marry a man for money, she provide support for Voltaire's overall theme of pessimism. Candide and Cacambo traveled to Eldorado, and found it to be the best place ever. "If our friend Pangloss had seen Eldorado, he wouldn't have said that the castle of Thunder-ten-tronckh was the finest thing on earth." (Pg. 68) Leaving a perfect place, such as Eldorado, where they could be seen as equals, and extremely pleased, seems insane. However, Candide and Cacambo found money more important. They left to live in a corrupt world, filled with riches and wealth. "[If we return to our world] we'll be richer than all the kings of Europe put together." (Pg. 70) This just goes to show that humanity see more, and better of money than happiness, and riches in contentment.