Quotes About Friends and Friendship

Friendship is a rare and precious commodity. If you have a friend who truly understands you and accepts you despite your shortcomings, then you are the luckiest person in the world. Quotes About Friendship Here are some quotes about friendship and friends: Walter Winchell: newspaper/radio columnist/commentator ï » ¿A real friend is one who walks in when the rest of the world walks out. Anonymous To have a good friend is one of the highest delights in life; to be a good friend is one of the noblest and most difficult undertakings. Christi Mary Warner: singer/songwriter, poet A true friend is one who knows all about you and likes you anyway. Aristotle: Greek philosopher What is a friend? A single soul dwelling in two bodies. Anonymous A friend hears the song in my heart and sings it to me when my memory fails. Bishop Fulton J. Sheen: Catholic bishop, TV commentator Every man rejoices twice when he has a partner in his joy. He who shares tears with us wipes them away. He divides them in two, and he who laughs with us makes the joy double. Jacques Delille: French poet Fate chooses our relatives, we choose our friends. Samuel Butler: English novelist, essayist Friendship is like money, easier made than kept. Anonymous Every time I hold you I begin to understand, that everything about you tells me youre my best friend. Proverb Advice from your friends is like the weather; some of it is good; some of it is bad. Orson Welles: American actor, writer, director Were born alone, we live alone, we die alone. Only through our love and friendship can we create the illusion for the moment that were not alone. Charles R. Swindoll: Christian pastor and authorI cannot even imagine where I would be today were it not for that handful of friends who have given me a heart full of joy. Lets face it, friends make life a lot more fun. Yolanda Hadid: Dutch-American television personalityI have learned that friendship isnt about who youve known the longest, its about who came and never left your side. Simon Sinek; British-American author, consultant The strong bond of friendship is not always a balanced equation; friendship is not always about giving and taking in equal shares. Instead, friendship is grounded in a feeling that you know exactly who will be there for you when you need something, no matter what or when. Khalil Gibran:Â  Lebanese-American writer, poet In the sweetness of friendship let there be laughter, and sharing of pleasures. For in the dew of little things the heart finds its morning and is refreshed. Ray Bradbury: American authorIf we listened to our intellect, wed never have a love affair. Wed never have a friendship. Wed never go into business, because wed be cynical. Well, thats nonsense. Youve got to jump off cliffs all the time and build your wings on the way down.

The Business Model Essay - 1107 Words

The Business Model Michael Lewis (2000: pages 256-257) scoffed at the whole attempt to formalize the definition of business models when he wrote that â€Å" â€Å"Business Model† is one of those terms of art that were central to the Internet boom: it glorifies all manner of half baked plans. All it really meant was how you planned to make money.† In an abstract of his paper â€Å"A Mesoscopic Approach to Business Models: Nano Research on Management† published in â€Å"Economic Issues in China† Dr. Junyi Weng stated that â€Å"Business Model, a well known important and extensively used term by media, management consultancy and business top managers, is just in an embarrassment that there is no consensus about its definition and few papers in academic†¦show more content†¦However, this paper chooses this definition as theoretical perspective of analysis for this paper subject to the following modifications: A business model is overall framework and philosophy by which a company (intends or) creates value in the market place through enhancement of its own combination of raw or in-put materials to create products (tangible and intangible including services), product packaging and systematic distribution in order to generate some or the best possible profit. We wish to adopt the principle enunciated by H. Chesbrough and R. S. Rosenbloom that The Business model mediates between the technical and economic domain: Measured in technical domain measured in economic domain From this descriptive model a business model can be viewed as the activity processes, which are combined and designed for generating advantage or profit for a company. There are two levels of technological intervention in the Business endeavour, which we define as â€Å"technology of production† and the â€Å"technology of trade.† These two levels of technological intervention call for a re-evaluation of business models either for modification or for re-invention. 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Principle Of Financial Accounting Francisco -Myassignmenthelp.Com

Question: Discuss About The Principle Of Financial Accounting Francisco? Answer: Introducation Carlsberg is an international brewer employing approximately 41000 people who are located in Eastern Europe, Western Europe, and Asia. The company was founded in 1847 and is headquartered in Copenhagen, Denmark. It is primarily engaged in the marketing, sale, and production of soft drinks and beer. Further, its portfolio comprises of a range of cider and beer brands including Baltika, Holsten, Carlsberg, Tuborg, etc. Carlsberg is also prevalent in various markets wherein it does not operate its own breweries through export and license business (Carlsberg, 2016). Heineken Heineken is the leading marketer and developer of premium cider and beer brands with a strong portfolio of more than 250 global, local, and regional ciders and beers. The company is committed towards long-term brand investment, cost management, sales execution, and innovation. It employs around 73500 workforce who operates in more than 165 breweries, cider plants, malteries, and production facilities situated in around 70 countries. It was founded in 1864 in Amsterdam. Transaction exposures of Carlsberg Carlsberg foreign exchange transaction exposures are mainly derived from foreign currency exchange rate fluctuations, interest rate fluctuations, raw material risk, and credit risk. Foreign currency exchange rate Carlsberg is exposed to transaction risks on sales and purchases in currencies instead of functional currency of domestic entities. Besides, a significant portion of the Groups affairs take place outside Denmark and not in DKK currencies. Hence, foreign exchange risk can be considered a major transaction exposure for the Group and as a result, fluctuations in the exchange rate can possess a material impact on its financial statement (Jacque, 2010). This is the reason why Carlsberg intends to hedge 70-90% of future cash flows in currencies on a 12-month rolling basis (other than the functional currencies). Interest rate fluctuations The most relevant interest rate transaction exposure in the company relates to borrowings. Since the entire debt of Carlsberg is in DKK and EUR, the exposures of interest rate relate to development in interest rates in both currencies. Such interest rate risk is measured by the time period of net financial debt (Carlsberg, 2016). Besides, in order to avoid foreign exchange risk, the interest rate on borrowings must be in local currency but in case of Carlsberg, the interest rate level in domestic currency and the additional cost of financing in domestic currency is extremely high, thereby resulting into a foreign exchange risk (Pochon Jerome, 2011). The net interest paid by Carlsberg amounted to DKK 1003 million in comparison to DKK 1818 million paid in 2015. Such decline was because of lower interest-bearing debts. Raw material risk The company also encounters foreign exchange transaction exposure due to the purchase of malt, cans, and energy. Moreover, since the underlying market for specified categories of packaging and raw materials vary, transaction exposure is more likely to occur (Carlsberg, 2016). The cost of finished goods of the company enhanced by 11% because of such currency impact from the appreciation of the Russian rouble. Credit risk The company is also exposed to credit risks on several cash equivalents and cash that include fixed deposits, derivative financial instruments, and investments with a positive fair value as to whether the opposite party can meet their contractual obligations as they become due (Popper, 2012). The carrying value of DKK 3502 million in the year 2016 has enhanced from DKK 3131 million in 2015 that represents the maximum exposure of credit owing to cash equivalents and cash (Carlsberg, 2016). Foreign exchange currency rate fluctuations Heineken is exposed to foreign currency risk on future purchases, future sales, dividends, and borrowings denominated in a currency other than its functional currencies. Further, major currencies giving risk to such transaction exposures are Mexican Peso, US Dollar, British Pound, Euro, etc (Heineken, 2016). In 2016, the year-end US dollar exchange rate moved to 1.05 in comparison to 1.09 in 2015, thereby affecting the financial statements of the company. Since the company reports in Euros that has proven to be a stronger currency over these years, fluctuations in the aforesaid currencies can affect the overall company results (taking into account the export sizes from Eurozone to South Africa and the USA). However, the company also has hedging transactional exchange risks that assist it to postpone the impact of its financial outcomes (Heineken, 2016). This is why 10% strengthening of US dollar against the Euro has materially affected financial assets and liabilities of the company. Credit risk Heineken is also exposed to a risk of financial loss in the event of failure of counterparties to satisfy their obligations. Moreover, such exposure arises mainly from investment securities and customers of the company. Further, the interest rates decided by the company are based on a risk-free rate plus margin that considers the value of given security and risk profile of the customer (Heineken, 2016). Therefore, any variations in exchange rates can easily impact the income statement of the company. Commodity price risk Heineken is also exposed to foreign currency transaction exposure associated with price changes in its commodities that can affect its overall income. Further, the main commodity exposure is associated with the purchase of utilities, cans, malt, and glass bottles. In order to encounter such exposure, the company does not enter into commodity contracts except to address sale requirements and expected usage of the company (Batram Bodnar, 2012). This is the reason why market value of commodity swaps in 2016 was EUR 11 million in comparison to EUR 70 million negatives in the year 2015 (Heineken, 2016). Comparison of transaction exposures As both the companies pursue similar business operational nature in manufacturing, producing, and selling their cider and beer bottles that include dealing in foreign currencies owing to international relations, they are exposed to similar foreign exchange transaction exposures like commodity price fluctuations, exchange rate variations, and exposure of credit risk. For transaction exposure attained from fluctuations in exchange rate, the overall finance expenses of Heineken enhanced from EUR 409 million in 2015 to EUR 493 million in 2016. In contrast to this, the net revenue of Carlsberg witnessed a major fall by 4% because of fluctuations in foreign exchange during the year 2016. For transaction exposure attained from commodity price fluctuations, the market value of commodity swaps of Heineken increased from EUR 70 million (negative) to EUR 11 million. In contrast to this, owing to the appreciation of Russian rouble, the cost of finished goods of Carlsberg increased by 11%. For transaction exposure attained from the risk of credit facilities to customers, the carrying amounts of financial guarantees and assets to the bank for Heineken enhanced from EUR 7335 million to EUR 7354 million in 2016. The same has been witnessed by Carlsberg as its carrying amount of financial assets has also enhanced from DKK 3131 million to DKK 3502 million. Different transaction exposures It can be seen that Carlsberg is also exposed by fluctuations in interest rates whereas Heineken is not affected by such transaction (in 2016). This is the reason why fluctuations in interest rates have decreased the net payment of interest on the part of Carlsberg from DKK 1818 million in the year 2015 to DKK 1003 million in the year 2016. Tools for managing transaction exposures In order to hedge foreign exposures, Carlsberg makes way to enter into forwarding exchange contracts or net investment hedges. Foreign exchange contracts Since the Group holds various types of investments in foreign subsidiaries, it is clearly exposed to foreign exchange risks. Foreign exchange contracts are entered by the company to hedge such exposures. This is applicable to investments in CHF, CNY, RUB, and MYR. Further, the basis for hedging in such contracts is reviewed at least once in a year and the general parameters like cost and risk reduction are balanced (Ross, 2010). Nonetheless, in economic terms, possessing debt in foreign currency through forwarding exchange contracts assists the Group in hedging the future cash flow value of DKK that arise from particular transactions or operating affairs (Moffett et. al, 2009). Where the fair value adjustment of such forward exchange contracts cannot surpass the fair value of the investment, adjustments of financial instruments are identified in other comprehensive income; otherwise, these are identified in the income statement (John, 2011). In order to hedge foreign exposures, the company uses derivatives in their ordinary course of business. Basically, the company implements hedge accounting to reduce the impact of transaction exposure in its income statement (Christie, 2014). In the year 2016, Heineken has entered into various cross-currency interest rate swaps that have been reflected as cash flow hedges to hedge the risk of foreign exchange rates on the principal value and future interest payments of its borrowings in US dollars (Fun Resnick, 2011). Heineken has also utilized commodity swaps to hedge foreign exposures and its market value reflected a positive figure of EUR 11 million in 2016. The company has used EUR 23 million forward exchange contracts in 2016 for hedge accounting. Moreover, such figure was very less (EUR 2 million) in 2015. Conclusion In case of big companies like Carlsberg and Heineken, forward exchange contracts, swaps, and options can be easily utilized to hedge short-term foreign currency exposure. Besides, companies that transact internationally can use hedging contracts to eliminate transaction exposure (Story, 2010). In the case of Carlsberg, more foreign exchange contracts can be used on an additional level to prevent any losses that are generated from movement of foreign currency (Needles Powers, 2013). However, commodity swaps can also be used by the company to encounter commodity risk that can affect its financial outcomes as a whole. In contrast to this, Heineken manages its transaction exposure in an appropriate way by the use of interest rate swaps, commodity swaps, and forward exchange contracts to hedge its accounting (Pilbeam, 2009). This can assist the company in attaining better financial outcomes throughout the year. The concept o foreign currency transaction exposure and different tools for m ultinational companies has been studied in an in-depth manner by various experts over a period of time. Forward contract, as well as options can be used as a potent tool to hedge foreign currency that pertains to short-term and in tune to the large multinational (Eun Resnick, 2011). Further, it is even proposed that the utilization of the hedging contracts is the best method to eliminate the exposure of transaction, specifically for companies that have huge operations or trading with countries that contains huge movements of currency. References Bartram, S. M Bodnar, G.M 2012, Crossing the Lines: The Relation between Exchange Rate Exposure and Stock Returns in Emerging and Developed Markets, Journal of International Money and Finance, vol. 31, no. 4, pp. 766792 Carlsberg 2016, Carlsberg Annual report and accounts 2016, viewed 21 January 2018 https://carlsberggroup.com/media/10899/carlsberg-group-annual-report-2016.pdf Christie, S 2014, Downside Leverage and Event Risk in Fund of Funds Portfolios, Journal of Alternative Investment, vol. 7, no. 3, pp. 68-75. Eun, C S Resnick, B. G 2011, International Financial Management, New York, NY: McGraw-Hill Heineken 2016, Heineken Annual report and accounts 2016, viewed 21 January 2018 https://yourenotgonnareadthis.heinekenusa.com/Heineken-NV-2016-Sustainability-Report.PDF Jacque, LL 2010, Global Derivative Debacles: From Theory to Malpractice, World Scientific. John C. H 2011, Options, Futures and Other Derivatives, Harlow: Pearson Education Moffett, M. H, Stonehill, A. I Eiteman, D. K 2009, Fundamentals of Multinational Finance, Boston, MA: Addison-Wesley Needles, B.E. Powers, M 2013, Principles of Financial Accounting, Francisco: Mc Graw-Hill Brook co. Pilbeam, K, 2009, Finance and Financial Markets, Palgrave Macmillan Pochon, F, Jerome T 2011, A Conditional Approach to Hedge Fund Risk, Journal of Alternative Investments, vol. 12, no. 2, pp. 64-77. Popper, N 2012, Rate Scandal Stirs Scramble for Damages, viewed 21 January 2018 https://www.cnbc.com/id/48143338 Ross, W.J 2010, Fundamentals of Corporate Finance, McGraw Hill. Story, L 2010, A Secretive Banking Elite Rules Trading in Derivatives, viewed 21 January 2018 https://www.nytimes.com/2010/12/12/business/12advantage.html

Shel Silverstein Biography Essays - Childrens Poetry,

Shel Silverstein Biography Shelly Silverstein, most commonly known as Shel Silverstein. He is best known in children's literature for his poetry; however, he was also a cartoonist, composer, lyricist and folk singer. Silverstein's work, which he illustrated himself, is characterized by a deft mixing of the sly and the serious, the macabre and the just plain silly. Silverstein was born on September 25, 1930 in Chicago, Illinois. His wicked, giddy humor is beloved by countless adults as well as by children. Shel began writing as a young boy in Chicago. Although he would rather have been playing baseball or chasing girls, he could not catch or hit a ball, and the girls were not interested in him. He gave his energies to writing. He developed his very own writing style at a young age and was unfamiliar with the poetry of the great poets of his time. I was so lucky that I didn't have anyone to copy, be impressed by. I had developed my own style, I was creating before I knew there was a Thurber, a Benchley, a Price and a Steinberg. I never saw their work until I was around thirty By the time girls were interested in him he was involved in his work. Silverstein never planned on writing and drawing for children. His friend, Tomi Ungerer, brought him to Ursula Nordstom's office where she convinced him to do children's books. One of his earliest and most successful books, The Giving Tree, was rejected by editor William Cole. Cole felt that the book fell between adults' and children's literature and would never sell. In Silverstein's eyes, it was a story about two people; one gives and the other takes. Ultimately, both adults and children embraced the book. He hoped that people, no matter what age, could identify with his other books as well. His works include Falling Up (1996), Where the Sidewalk Ends (1981), A Light in the Attic (1981), The Missing Piece Meets the Big O (1982). He won awards for all three books: The Michigan Young Readers Award for Where the Sidewalk Ends (1981); a School Library Journal Best Books (1982) for A Light in the Attic, an International Reading Association's Children's Choices Award for The Missing Piece Meets the Big O. Referring to Shel Silverstein as a children's author and stopping there, attempts to limit a great man who was much more. The writing of children's poetry is only half of the Shel Silverstein story. He actually started out cartooning when he was in the U.S. Army for Pacific Stars and Stripes In 1956, he caught the attention of Hugh Hefner, and began his life-long association with Playboy magazine supplying poignant adult cartoons and other humor.?It wasn't until the 60's that he wrote his first children's book, The Giving Tree, and found wide-spread fame as a children's author. ? Silverstein's intuitive mastery of silliness, satire and clever word play endeared him to all age groups.? Even after entering the children's market, he continued writing for Playboy as well as writing lyrics for artists such as Dr. Hook, Bobby Bare, Johnny Cash, Loretta Lynn, Kris Kristofferson, the Serendipity Singers and many more. Often there are two versions to a Silverstein poem.? Now and then we run across a song version and a Playboy version. Shel Silverstein's adult lyrics, poems and cartoons illustrated his people and street savvy he understood human nature of all ages.?Silverstein's cartoonin g and poetry often centered on sexuality and the drug culture but never without a thoughtful message, lesson, or quiet observation. Many of Silverstein's works that are considered to be children's literature originated in the adult genre and vice versa. Someone Ate the Baby is from Shel Silverstein's: Songs and Stories album, 1978. The same poem appears in Silverstein's Where the Sidewalk Ends as Dreadful. Shel Silverstein passed away May 10, 1999 from a heart attack. He will be remembered for generations to come through the joy he will continue to bring to children and adults through his life's work. English Essays