Bloodsucking Fiends: A Love Story Chapter 34

Section 34 Poop Hits the fan An influx of tension washed over Jody as she woke up. â€Å"Tommy,† she called. She jumped up and went into the living territory, not halting to turn on the light. â€Å"Tommy?† The space hushed up. She checked the replying mail: no messages. I'm not going to do this once more, she thought. I can't deal with one more night of stressing. She'd tidied up the chaos from the police search the prior night, put lemon oil on the wood, scoured out the sinks and the tubs, and watched satellite TV until first light. All the time she pondered the thing Tommy had said about sharing, about being with somebody who could comprehend what you saw and how you felt. She needed that. She needed somebody who could run the night with her, somebody who could hear the structures inhale and watch the walkways shine with heat soon after dusk. In any case, she needed Tommy. She needed love. She needed the blood-high and she needed sex that contacted her heart. She needed fervor and she needed security. She needed to be a piece of the group, yet she needed to be a person. She needed to be human, however she needed the quality, the faculties, and the psychological sharpness of the vampire. She needed everything. Imagine a scenario in which I had a decision, she thought, if that clinical understudy could fix me, would I return to being human. It would imply that Tommy and I could remain together, yet he could never know the sentiment of being a divine being, and neither would I. Never again. So I leave; what at that point? Only i'm. More alone than I've at any point been. I abhor being distant from everyone else. She quit pacing and went to the window. The cop from the prior night was out there, sitting in an earthy colored Dodge, viewing. The other cop had followed Tommy. â€Å"Tommy, you jolt. Call me.† The cop would know where Tommy was. Be that as it may, how to get him to tell? Entice him? Utilize the Vulcan nerve squeeze? Sleeper hold? Perhaps I should simply go up there and thump on the entryway, Rivera thought. â€Å"Inspector Alphonse Rivera, San Francisco PD. In the event that you have a couple of moments, I'd prefer to converse with you about being dead. How right? Who did it? Did it piss you off?† He balanced himself in the vehicle seat and took a taste from his espresso. He was attempting to pace his smoking. Close to four cigarettes 60 minutes. He was in his forties now and he was unable to deal with the four-pack-a-night stakeouts †returning home with his throat crude, his lungs singed, and a horrible hurt in his sinuses. He checked his watch to check whether enough time had gone since he'd last lit up. Nearly. He moved down the vehicle window and something got him by the throat, removing his breath. He dropped his espresso, feeling the burn in his lap as he came to in his coat for his weapon. Something got his hand and held it like a bear trap. The hand on his throat loosened up a piece and he sucked in a short breath. He attempted to turn his head and the clasp on his throat remove his breath once more. A pretty face got through the window. â€Å"Hi,† Jody said. She relaxed her hold on his throat a degree. â€Å"Hi,† Rivera croaked. â€Å"Feel the hold on your wrist?† Rivera felt the bear trap on his wrist fix, his hand went numb, and his entire arm lit up with torment. â€Å"Yes!† â€Å"Okay,† Jody said. â€Å"I'm almost certain I can squash your windpipe before you could move, yet I needed you to be certain as well. You sure?† Rivera attempted to gesture. â€Å"Good. Your accomplice followed Tommy the previous evening. Do you know where they are now?† Again Rivera endeavored to gesture. On the seat close to him, the mobile phone trilled. She discharged his arm, grabbed the weapon out of his shoulder holster, flipped off the security, and pointed it at his head, all before he could draw a solitary breath. â€Å"Take me there,† she said. Elijah Ben Sapir viewed the red spots moving around on the video screen over his face. He had stirred inclination merry about slaughtering the youngster's toy kid, at that point he saw that his home had been attacked. He was hit with a feeling so uncommon it took him some time to remember it. Dread. It had been quite a while since he'd been apprehensive. It felt better. The specks on the screen were moving around on the harsh of the pontoon, scrambling all through the fundamental lodge above. At regular intervals a dab would vanish off the screen, at that point return. They were getting in and out of a pontoon at the harsh. The vampire came to up and flipped a progression of flip switches. The huge diesels on either side of his vault thundered to life. Another switch and an electric winch started granulating in the stay. â€Å"Move, move, move!† Tommy yelled into the lodge. â€Å"The motors started.† Barry got through the bring forth conveying a bronze sculpture of a ballet performer. Tommy held up at the harsh of the yacht with Drew. Troy Lee, Lash, Jeff, Glint, and the Emperor and his soldiers were at that point in the pontoon, attempting to discover space to move around the artistic creations and sculptures. â€Å"Over,† Tommy stated, taking the sculpture from Barry as the squat jumper went over the side into the arms of the holding up Animals, nearly inverting the pontoon. Tommy tossed the sculpture down to the Emperor, who got it and went to the floor of the pontoon with its weight. Tommy tossed a leg over the railing, and thought back. â€Å"Light it, Drew. Now!† Drew bowed and held his lighter to the furthest limit of a wax-covered portion of material that stumbled into the harsh deck and through the incubate to the principle lodge. He watched the fire follow the path for a couple of feet, at that point stood and joined Tommy at the rail. â€Å"It's going.† They went over the rail in reverse and the Animals obliged them by moving to one side and letting them both hit the floor of the pontoon unobstructed. The pontoon reeled and corrected itself. Tommy battled for breath to provide an order. â€Å"Paddle, men!† the Emperor yelled. The Animals started to beat the water with their oars. There was a noisy thumping commotion from the yacht as the transmission connected with and the pontoon was shaken as the twin screws drew in and started driving the yacht away from them. â€Å"Rivera,† Rivera said into the wireless. â€Å"The yacht is moving,† Cavuto said. â€Å"I think I simply supported these folks in plundering it.† He unfastened a calfskin case on the vehicle seat, uncovering a gigantic chromed programmed gun, a Desert Eagle.50-gauge. It shot projectiles generally the heaviness of a little pooch and kicked like a jackhammer. One shot could lessen a soot square to rock. â€Å"I'm on my way,† Rivera said. â€Å"What about the girl?† Cavuto hammered a clasp into the Desert Eagle, dropped another into his coat pocket. â€Å"She's †she'll be fine. I'm at Van Ness and Lombard. I'll be there in around three minutes. Try not to bring in backup.† â€Å"I'm not †goodness Jesus Christ!† â€Å"What?† â€Å"The screwing thing just blew up.† A wellspring of fire shot from the harsh of the Sanguine II, a second passed, and the remainder of the yacht vanished in a haze of fire that rose into the sky over her. She had cleared the embankment and was maybe 300 yards out into the inlet when the circuit arrived at Drew's ignitable mixed drink. The pontoon had quite recently made the dock when the blast went off. Tommy jumped onto the dock and watched the mushroom cloud disseminate. The stun wave came in and Tommy came to back to the pontoon and got the Emperor before he went into the water. Garbage poured down around them. A pool of fire and unexploded diesel fuel spread out over the water, lighting up the entire zone with a moving brilliant orange. â€Å"Is this a gathering vessel, or what?† Drew yelled. The Animals mixed out of the pontoon onto the dock and started giving up the objets d'art. Tommy stood aside and watched the consume. Bummer fell down in the Emperor's arms. â€Å"Do you think we got him?† Jeff gave the Degas ballet performer to Troy and investigated his shoulder. â€Å"Fucking A, we got him. Pleasant blend, Drew.† Drew soaked up the adulation and nearly went over the edge of the dock. The Emperor said. â€Å"I can't resist the urge to feel that the blast may have pulled in the consideration of the specialists, men of their word. I would suggest a rapid retreat.† Drew took a gander at the consuming smooth. â€Å"I wish I had some corrosive. This would be extraordinary on acid.† Jeff hopped down into the pontoon and gave up the last work of art, the Miro. He looked past Troy Lee, who was wrestling up the overwhelming edge, and stated, â€Å"Whoops.† â€Å"What?† Troy said. Jeff gestured past him and the Animals pivoted. Cavuto had an extremely huge, gleaming gun pointed at them. â€Å"No one move!† They didn't. The spearguns were stacked on the dock. Glimmer held the shotgun freely next to him as he implored. He dropped it. â€Å"Drop it,† Cavuto said. â€Å"I did,† said Clint. â€Å"That's actual, he did,† Tommy said. â€Å"And before you inquired. He ought to get additional acknowledgment for that.† Cavuto motioned with the gun. â€Å"Everybody down. On your countenances. Now!† The Animals dropped. Lazarus woofed. The Emperor ventured forward. â€Å"Officer, these youngsters have †â€Å" â€Å"Now!† Cavuto shouted. The Emperor dropped to the dock with the Animals. The screens went dull a moment before he was hammered against the side of the vault. He tumbled inside, feeling his tissue consume on the steel with each turn. The vault shined red with the warmth and had loaded up with smoke from the singed wires and the vampire's attire. Following a couple of moments the tumbling halted. The vampire was stuck into one finish of the vault, his face against his knees. His skin was stinging and he attempted to will it to recuperate, however it had been days since he had taken care of, so the mending came gradually. He found the cover by finding the crushed CRT and radar screens. Salt water showered in a fine fog from behind the screens. He pushed on the cover yet it didn't move. He felt for the locks and releas

Qualitative Research Problem and Design-Terence Essay - 1

Subjective Research Problem and Design-Terence - Essay Example In-setting discernments, interviews and broad conversations are a portion of the techniques utilized in this kind of exploration (Academy of Management, 2011). Crimes in many pieces of the world are expanding because of certain variables which financial experts and sociologists accept can be controlled (CICITAS CRIME, 2013). For instance, the crime percentage in the United States is viewed as low as analyzed different pieces of the world yet at the same time high. Locales of Africa and South America are the most influenced territories with the expanding paces of crimes. It is imperative to take a gander at the reasons for these expanding levels of violations since lives are lost from such crimes. A portion of the central point behind expanding crime percentages are absence of openings for work among the young and urbanization when all is said in done. Investigating the impacts of these criminal practices in our general public is likewise urgent since it would give the network motivations to battle this evil in the general public. At long last, an examination on the best way to battle this issue would be vital (Clear, 2012). A wrongdoing is a movement that an individual or a gathering takes part in yet the tradition that must be adhered to is against. These exercises can be acts that influence others are those that influence only the practitioners of the exercises. The general viewpoint of criminal conduct takes a gander at all the gatherings in question when such an unlawful move is made (Federal Bureau of Investigations, 2013). The pace of crimes in our nations has been on the increments. The quantity of unlawful exercises that administration specialists record each year is today higher than the number recorded back in the mid 2000s. The size of information about lives lost in the line of taking care of crimes have additionally expanded over years to date. The world is presently left alarm about these expanding criminal rates as the whole age from the West toward the East is influenced by the issue (Uniform Crime

Absorption Costing: Advantages and Disadvantages

Assimilation Costing: Advantages and Disadvantages There are two principle costing techniques that this organization can utilize, assimilation costing and Activity based costing. Retention costing and Activity based costing (ABC) are two comparative frameworks that are utilized to appoint aberrant expenses to cost objects. Retention costing is likewise called customary costing; it is increasingly oversimplified and utilizes self-assertive designation. Then again, ABC is increasingly modern and utilizations circumstances and logical results allotment. This report will manage the various definitions, the history, the focal points and burdens of assimilation and ABC frameworks. At that point finial a proposal on which framework is more qualified for this organization. This organization needs both of the two costing framework since they are valuable during arranging and planning. Moreover having the frameworks set up will permit overheads to be charged to administrations. Ingestion COSTING Ingestion costing is a strategy for costing that, notwithstanding immediate expenses, appoints all, or an extent of item overhead costs units by methods for one or various overhead retention rates. Cima (2005) Assimilation costing frameworks is a costing framework where assembling costs are assigned to items and non fabricating costs are not allotted to the item however charged legitimately to the benefit articulation and prohibited from the stock. Drury (2008) Retention costing is a framework where all the fixed assembling overheads are dispensed to the items. Drury From every one of these definitions the Cima definition is the better definition since it makes reference to the greater part of the key procedures that are engaged with retention costing which straight away gives you a thought of what assimilation costing is. Different definitions are additionally acceptable as they express a few procedures associated with ingestion yet Cima places the definition in an increasingly reasonable manner. History This costing framework was created decades prior when organizations were a lot littler and had less overhead expenses. During the time this framework was created there were generally modern organizations which made this framework appropriate to allocate expenses to cost objects. How it functions This organization right now works under ingestion costing framework for working out overheads for their administrations. Working out assimilation costing includes a two phase process. Stage one thinking about the assignment and division of backhanded expenses to administration and creation cost focuses and afterward allotment of the administration office to creation office. Assignment is the way toward assessing the expense of assets devoured by an item that doesn't utilize direct measures. This procedure manages overheads that can be straightforwardly relegated to cost focuses without the should be allotted. Cost allotment is a procedure of charging circuitous expenses to cost focuses that cant be straightforwardly assigned. Administration division overheads are moved to the creation office so they can be secured. Stage two works out the assimilation rates that are then used to charge overheads to cost objects. The retention rate worked out is utilized to ascertain the complete overheads of an item. From all these three phases just assignment is utilized in ABC. There are points of interest and hindrances of retention costing: Points of interest Reasonable and easy to work. Assimilation costing is easy to work which makes it more affordable to work. This is useful for the organization as it permits them to lessen their expenses and comprehend what they are doing. Drawbacks Less exact. Its great that the framework is straightforward, yet this makes it less exact when charging expenses to cost objects due to the serious utilization of self-assertive assignment. Discretionary distribution is the point at which a portion base utilized is anything but a significant determinant of its expense. Not knowing all the specific reasons for specific costs will make it troublesome during arranging and planning. Assimilation costing stresses on factor and fixed expenses. This makes it hard for the organization to utilize data from this framework for dynamic; its not nitty sufficiently gritty to enable the business to make forecasts or spending plans. Movement BASED COSTING Various sources characterize ABC in various manners: A way to deal with the costing and checking of exercises which includes following asset utilization and costing last yields. Assets are doled out to exercises, and exercises to cost objects dependent on utilization gauges. The last use cost drivers to join movement expenses to yields. Cima wording Action based costing is a refinement of assimilation costing that plans to charge overhead expenses in considerably more detail with the goal that the overhead expense can be charged based on a cost driver. Drury (2005) Between these two definitions Cima definition obviously states what ABC is about and makes reference to cost drivers which are a key zone of this framework. While the other definition doesn't explicitly state what is associated with ABC for example cost drivers however it points out that its like retention costing. By and large, the Cima definition is better as it is a more detail clarification. History ABC framework was created when the present framework at that point (assimilation costing) was getting less helpful for doling out expenses to items in the changing industry condition. During the 1980s organizations started to increment in size and delivering more extensive item ranges and administrations. Data preparing costs were high, which made it hard for advanced overhead assignment techniques to be defended. There was an expanding interest for progressively exact item costs; this prompted the presentation of the ABC framework. Cooper and Kaplan conceptualized the thoughts behind this framework as a method of attempting to improve the exactness of the charge made to cost questions in complex business conditions. How it functions ABC framework is turned out to be contrastingly contrasted with retention costing. The two of them utilize the two phase allotment procedure to appoint overheads to cost objects. First stage overheads are doled out to cost focuses and in the second stage the cost amassed in the cost habitats are assigned to cost objects. ABC contrasts from ingestion costing by having more cost places in the main stage and a more prominent assortment of cost drivers in the subsequent stage. Display 1 shows a case of a companys yearly overhead costs which I will use to how ABC functions. Likewise to retention costing, an overhead investigation sheet is created where overheads are allotted to cost focuses. This is appeared in show 2. At that point exercises are distinguished for each cost. From show 3 section A, you can see that there are heaps of exercises that have been distinguished from significant exercises for example General production line support. The expenses made over a particular period must be appointed to the exercises. At the point when expenses are amassed by exercises they are called movement cost drivers. Action cost drivers must be chosen for every action community so as to dole out the cost appended to items. In show 3-section C and D you can see the movement cost drivers and the cost they each amass. Cost driver rates are worked out for every movement. At long last, the cost driver rates are applied to items. In show 4 there is a case of Product G tha t is created and utilizes different action cost drivers and cost driver rates are applied. There are points of interest and drawbacks of having ABC set up, these are: Points of interest Distinguishes unbeneficial things from the product offering. This will permit the organization to make changes to their creation, and improve their proficiency. Evacuating these unbeneficial things decreases un-fundamental costs the organization perhaps experiencing. Additionally it empowers the organization to expand its benefit without the need to build costs. Gives quantifiable figures to arranging and gauges. ABC distinguishes all the distinctive cost drivers that add to the all out overheads of creating an item or administration. This will help when offering statements to clients just as for the business to check whether taking up a specific undertaking will be beneficial to them. ABC utilizes an enormous number of cost focuses in the principal stage and a more noteworthy assortment of distribution bases in the subsequent stage. This makes the framework precise at charging overheads to items. Exact cost charges to items or a help lessens the danger of making a misfortune if the perfect sum isn't charged. Burdens Costly to work. The multifaceted nature of this costing framework makes it costly to work contrasted with different other options. The business should put time and assets with the end goal for them to recognize the cost drivers. For example one of the means expected to distinguish cost drivers is to talk with staff and have them occupy in time sheets. This procedure will diminish the creation time accessible to the organization. Tedious. Utilizing ABC is a long procedure and requires a great deal of data to execute; this is tedious for the organization and its staff. There is an excessive amount of tender loving care and control. Here and there giving close consideration to detail may make it hard for the organization to see the master plan or cause the firm to dismiss vital destinations just to look for little reserve funds. It might be hard to execute. In administration organizations there are costs that are hard to designate to explicit help units and administration division, staff frequently engage in numerous non casual exercises which might be trying to record cost information. Proposals Given that the organization supplies administrations to government bodies and works under retention costing, I suggest that we should change the costing framework to ABC as it will be increasingly reasonable for the organization. This costing framework might be hard to actualize in administration organizations however it shows the organization more detail of the different costs engaged with each assistance they give which is fundamental during dynamic and arranging. To actualize ABC there specific things the business should do: Legitimate arranging and responsibility from staff, completing a pilot study

Western civilization.The political theory of John Locke and Jean Essay

Western civilization.The political hypothesis of John Locke and Jean Jacques Rousseau - Essay Example This is an examination about the political hypothesis of John Locke and the political hypothesis of Jean Jacques Rousseau. Also, the investigation will feature and talk about how the considering Locke and Rousseau fit into the time of Enlightenment. The investigation will begin with a conversation of the political hypothesis of Locke, trailed by a conversation of Rousseau’s political hypothesis, and afterward end with how their speculation fits into the time of edification. The political hypothesis of John Locke John Locke can be viewed as one of the establishing fathers of liberal way of thinking, which lays accentuation on restricted government and individual rights. In his contentions about the condition of nature, Locke noticed that nature is portrayed by shortage of things to eat or wear. Along these lines, individuals must strive to get food to eat and different necessities. Two things occur because of this difficult work; initial, an individual endures. Besides, an indi vidual makes property by blending work in with the normal assets to make food, asylum, and fabric (Bode 4). Locke contended that issues may emerge with property since it very well may be withdrawn from the person. In the condition of nature, numerous individuals might be eager to take care of the issue of shortage by grabbing a person’s property. Through this battle, the possibility of government appears. Locke estimated that men entered the general public with a definitive point of safeguarding their property. Individuals penance their opportunity in the condition of nature and go along with others in a defensive government... God doesn't pick rulers; individuals design lords to ensure property. On the confinements of government, individuals have the position to supplant pioneers on the off chance that they neglect to play out their obligations true to form (Bode 6). The political hypothesis of Jean Jacques Rousseau Jean Rousseau can be viewed as a critical figure in the advancement of philosophical idea in the eighteenth century. He was one of the researchers who built up the political hypothesis, which would later impact the time of upsets, particularly the French and American Revolutions. On the nature and society, Rousseau noticed that man’s regular state could be more favored than the common or social state. In his Discourse on balance, Rousseau contends that man will in general show up as the singular rescue and carries on with a joyful life (Qvortrup 76). In his old style take a shot at political hypothesis, The Social Contract (1762), Jean takes note of that ‘Man was brought into the w orld free, however is wherever in chains’. This communicated his conviction that the general public has debased man. He contends that individuals perceive a general will, which is aggregate (Qvortrup 78). This general will ought to speak to the benefit of all or the enthusiasm of the general population. All residents should participate and demonstrate duty to the general great. This ought to happen regardless of whether it implies that individuals should act against their own or private interests. For instance, individuals may bolster an ideological group that proposes to force substantial charges in the event that they have high pay. This would not hurt as the tax assessment will carry impressive advantages to all people. To Rousseau, subsequently, a dedicated resident ought not put their private advantages first. He contended that when individuals don't put their own advantages first, uniformity and

Econ 256 Final

2. For what reason do financial experts by and large view middle pay as a superior proportion of a normal American's prosperity than mean salary? Dfiodifaje 3. For what reason do the United States, and numerous different districts, have antitrust laws on the books? What's so unsafe about oligopoly that warrants a whole assortment of law? The United States and numerous different nations have antitrust laws on the books to secure their buyers in their various markets. Having the capacities to both raise and lower costs are the reasons that oligopolies are so unsafe. . Two customers go to the insurance agency to buy some extra security. James is a smoker and a cop who races cruisers in his extra time. Kathy is a nonsmoker and a bookkeeper who likes to make quilts in her extra time. The insurance agency realizes that the two buyers are 40 years of age, yet the organization has no data about occupations or interests. How does the private data in this circumstance make an antagonistic choi ce issue? How could the insurance agency reduce this issue? Without knowing the foundation data on the potential customers, insurance agencies are without the capacity to see that while James is taking a chance with his life as a cop, he is likewise a smoker and racer. He’s risking his life and as yet expanding the danger of wounds. The protection ought to have a line on their application that requests candidates for their occupation, regardless of whether they are smokers or in the event that they drink, and in conclusion what they appreciate doing in their extra time. With having this data, the organization can perceive what every one of the people actually needs protection shrewd. 6. Jane works low maintenance and acquires $12,000 every year. Since she is underneath the destitution line, she additionally procures $4,000 in different government assistance benefits. Assume she is extended to another employment opportunity that would pay her $15,000 and would bring her profit sufficiently high with the goal that she not, at this point equipped for any government assistance benefits. This is what is known as a â€Å"notch†. Clarify what's going on with Jane and how might we change the framework to take out the indent.

So who is this Laura person, anyway

So who is this Laura person, anyway Hello and welcome to the single coolest blog on the entire admissions website. My name is Laura and I am a member of the MIT Class of 09, which means that I am writing entries about what its like to be an MIT student even though I dont actually go there yet. If you think that makes me really cool, youre absolutely right! If you think that makes me really nerdy (like the kids in the Facebook group Dorks Who Were On The Facebook Before They Left High School) you are so amazingly, incredibly wrong that I cant even begin to explain it. When I do get to MIT, Im planning to declare Course 2 (Mechanical Engineering) as a major and possibly minor in Course 17 (Political Science). Now, that said, let me tell you a little about myself. First, I am from New Jersey. Now, to be perfectly honest, I wont be offended by anti-Jersey jokes at all. I understand and embrace that my state is one of the most-often bashed states in the country. There are just 2 things I would like to clear up. Number one: New Jersey is not dirty. If youve flown into Newark airport and driven away from it by taking the Turnpike, then you have every right to think so. But I know Im not the only Jerseyan to say this: Newark is one of the worst airports Ive ever been to and the Parkway kicks the Turnpikes you-know-what. Of course there are some crowded cities and sketchy beaches, but a good portion of New Jersey is actually very nice and pretty. Number two, and this is really, really important: NO ONE who is actually FROM New Jersey ever, ever, EVER refers to it as Joisy. This is a Brooklyn accent, not a Jersey accent. Well freely admit that we do say wawk and tawk and cawfee, but NEVER Joisy. If the rest of the country could just get that straight , wed all be really happy. Thanks. =) Now that we have that out of the way, Ill continue actually telling you about myself. I love all kinds of sports and will be playing for MITs field hockey team this fall. I love baseball and am a huge New York Mets fan. Ill have no further comment on that today. I love to read and write. I read so much that Ive become personal friends with the teen librarian at my local public library. (Her name is Pam.) I like watching movies (who doesnt?) and am an avid horror fan. I love them all- everything from the most well-developed suspense thrillers (Saw) to the cheesiest slasher flicks with bad special effects (Friday the 13th). A good friend of mine (Katie) and I have horror movie marathons where we stay up all night watching horror movies. We can watch the first 5 minutes of any horror movie and make very accurate predictions about which characters will die in which order. Im spending this summer working as a lifeguard at Runaway Rapids Waterpark. This means I get paid a very small hourly wage to stand outside all day and tell little kids to stop running. I love it. I have an awesome tan, free beach parking, get to ride all the water slides and rides at the amusement park next door for free, get to stay outside all day and can jump in a pool whenever it gets too hot. Plus its a pretty cool summer job and at the end of every day I have amusing stories to tell my friends. Now, one last thought before I wrap up this first entry. Its a big thought, so get comfortable. The last science fair I went to was in my elementary schools gymnasium in the fourth grade. All I know about Intel is that they are a tech company that sponsors some kind of competition. I dont even know what that competition is, all I know is that the people who win it are really smart. I didnt break 1500 on the SATs. In fact, all those threads on collegeconfidential where everyone says hey I have a 1600, 4.0, class president, math team president, Intel winner [whatever that is], and Ive worked as an intern for IBM since I was 7 but I only got a 760 on the Physics SAT II do you think I still have a chance? really, really annoy me. No offense to anyone who has contributed to those kinds of discussions (seriously- one of my best friends is so obsessed with SAT scores that he knows mine better than I do), but they bother me for two reasons. First, they miss the point. MIT looks at more than just scores, the match is important, they want to see your passions, etc etc (just ask Matt or Ben). More importantly, they make me feel kind of dumb, and I dont like that. Heres the thing: I am totally clueless about technology. I just graduated from a nerdy tech school and the only reason I ended up applying to MIT was my sheer stubbornness. Most of the kids at my school were children of engineers. My dad is a carpenter and my mother is a teachers aide in an elementary school. If one or more of your parents is an engineer, or if you just spent lots of free time as a child playing around with electronics or whatever, I bet you have NO IDEA how hard you make life for everybody else. Im not being critical and I dont blame anyone or hold it against anyone. Hey, if you already know how to build complex electrical circuits, more power to you. Thats seriously awesome. But what you probably dont realize is that there are other people out there who really, really wish they knew how to do the things you take for granted, and you scare the hell out of them. Im speaking from personal experience here, and let me tell you- it is so, so, SO hard to keep up. Thats what I spent my junior year of high school doing- trying desperately to keep up with kids on my FIRST Robotics team who didnt even need to be there. They were practically bored with what they were doing. I got through every day by remembering one term someone used and looking it up on HowStuffWorks.com when I got home. (I highly recommend this method.) I wrote an optional essay on my MIT application about that experience, and here I am. I guess the point Im trying to make here is that you cant get discouraged just because you dont have the same background as everybody else. In fact, what Im trying to say goes even further than that. If youre an incoming freshman who really wants to major in mechanical engineering, and youre so nervous about being miles behind everyone else that youre thinking of switching to chemistry because you already know it- DONT. If youre a prospective student and youre thinking, Man, I wish I could do some of those things MIT kids do, it seems like so much fun. But I dont know the first thing about it, so I guess I wont apply- STOP. This blog will be about my experiences at MIT. That means I will share every embarrassment that I face because I dont know the first thing about engineering. Learn from my mistakes so you dont have to do the same dumb things I do. Dont feel too scared. (Or you can just bookmark me so you know where you can have a good laugh if youre having a bad day.) I am here, ready and willing to be the poster child for people who get headaches listening to conversations at MIT but still love every minute of it. If you feel kind of lost already, Im your girl.

Corporate Disclosure and Financial Statements a Brief History - Free Essay Example

Corporate disclosure and financial statements: a brief history While the history of private enterprise is thousands of years old, a relevant launchpad to understand the modern corporation, and its associated concepts of limited liability and disclosure etc. can be with the corporations of the 17th century. Understanding the evolution of financial statements and disclosure in the private sector is critical to seeing the remarkable similarity between the evolution of â€Å"Right to Information† issues in the private sector and the current debates on the same topic in our public institutions: †¢While the history of private enterprise is thousands of years old, a relevant launchpad to understand the modern corporation, and its associated concepts of limited liability and disclosure etc. can be with the corporations of the 17th century. Of special interest to India is that no institution offers a better case study here than the East India Company: †¢Between 1600 and 1617 the company sponsored 113 voyages, each supplied with newly subscribed capital and treated as a separate venture. †¢At the end of each voyage assets as well as earnings were subject to divisions among the shareholders. Profit was easily measured by the individual investor: he gained to the extent that he got back more than he had paid in. †¢One of the first attempts to deny stockholders access to the records of their company occurred during 1633. After a decline in the fortunes of the East India Company, some stockholders moved for the appointment of a committee of inspectors. The Governor (Chairman) refused to put the motion to the meeting and the governing committee decided that no-one should be permitted to read or copy, or to ‘ravel and dive’ into the accounts without its consent. †¢During 1841 a Select Committee was requested to inquire into the State of the Laws respecting Joint Stock Companies with a view to the greater security of the public in Great Britain. It published its First Report during 1844, including the following recommendations: †¢Ã¢â‚¬Å"The periodical holding of meetings, the periodical balancing, audit and publication of accounts, (would make) the Directors and officers more immediately responsible to the shareholders. † †¢Ã¢â‚¬Å"Periodical accounts, if honestly made and fairly audited, cannot fail to excite attention to the real state of a concern; and by means of improved remedies, parties to mismanagement may be made more amenable for acts of fraud and illegality. †¢Ã¢â‚¬Å"It is expedient that the accounts of every such Company be open to the inspection of the shareholders: and that the annual balance-sheet, together with the reports of the auditors thereon, be registered. † †¢This report heralded the beginning of the never ending attempts to enforce proper disclosure of the affairs of corporations, the birth of the modern accountancy and audit professions and the eventual supervision by e ntities such as stock exchanges, central banks and securities commissions. Some of the â€Å"Modes of Deception Adopted† by these companies recorded in the Report were: †¢By the issue of prospectuses and advertisements containing false statements as to the authority under which it exists, as to the amount of capital of the Company, or as to the period of its establishment; †¢By the concoctors and managers living at great expense, entertaining their neighbours, and thereby endeavouring to fortify themselves against suspicion; †¢By the making up of fraudulent accounts, so as to deceive the directors and the shareholders, which has been facilitated sometimes by the accounts not being audited, or by the accountant being a near kinsman of the managing director, the only party taking an active part in the concern; †¢By declaring dividends out of capital, on false representations of profits realized; †¢The 1844 Report was followed by the first general Compan ies Act, the Joint Stock Companies Act 1844 which provided for †¢The institution of the Office of the Registrar of Joint Stock Companies †¢Documentary information relating to companies to be kept for public inspection; †¢The preparation and delivery of â€Å"full and fair† audited balance sheets and the auditors reports thereon to all shareholders, †¢The reading thereof and of the report of the directors at the annual meetings of companies, and the filing of the balance sheets and auditors reports at the Office of the Registrar; †¢The right of shareholders to inspect the books of account of their companies. †¢The Limited Liability Act was subsequently passed in 1855. This introduced the concept of general limited liability for shareholders i. e. their liability for the company’s debts, if it became bankrupt, was limited to the amount of share capital which they had invested. It was felt important that the company’s creditors should be aware of the limited liability status of the company, and the requirement for companies to have â€Å"limited† or â€Å"ltd† in their name dates from this time. It was this 1855 Act which finally established companies as the major instrument in economic development. †¢After this legislation, businesses mostly fell into two categories:incorporated companies and conventional partnerships. The numbers of incorporated companies increased steadily, in particular towards the end of the 19th century. †¢By 1914 around 65,000 were registered; by 1945 about 200,000 †¢As early as 1877, The Economist was among many institutions who were advocating the imposition of a form of account on companies, to be adopted for regular disclosure. †¢Numerous amendments and related statutory enactments followed during the ensuing years which culminated in the Companies (Consolidation) Act 1908. A provision was made for including a statement in the form of a balance sheet in the annual return to the Registrar of Companies. †¢In the United States, progress on corporate disclosure followed the standards set in England, until the early 1900s. As late as the 1920s many corporations still kept sales figures secret, some did not depreciate assets, failed to treat non-operating income consistently, did not separate retained earnings from paid-in capital and did not disclose asset write-ups. †¢It was after the Great Depression of 1929 that substantial changes were brought in. The English Companies Act of 1929 served as the foundation for Felix Frankfurter and his team in drafting the Securities Act of 1933. Importantly, the 1929 Act was the source of two major components of the current American securities regulation regime, the concept of full disclosure and the possibility of civil liabilities of the registrant, its officers, directors, and experts. †¢Beyond the functional value of the 1929 Act is the reflection of the vision of the nation’s leadership at the time. President Roosevelt’s policy, which championed full disclosure as the preferable remedy to the malaise of American financial markets at the time can best be understood by Louis Brandeis’s famous maxim: â€Å"Publicity is justly commended as a remedy for social and industrial diseases. Sunlight is said to be the best of disinfectants. †¢Even as late as 1932, the New York Stock Exchange expressed concern about the wide variety of accounting and reporting methods used by companies whose securities it listed. A committee of the American Institute of Accountants under the chairmanship of George May was appointed to formulate improved accounting standards which could then be enforced through listing requirements. The committee’s final report contained five recommendations: 1. To promote consistency, corporations listing their stock on the exchanges were asked to adhere to certain broad accounting principles, within this framework, each firm could adopt the accounting methods it preferred. 2. Each listed company would prepare a summary of accounting methods used in its statements. This summary would be formally approved by the firm’s board of directors, would be filed with the exchange, and would be available on request to any stockholder. 3. The procedures listed in this summary would be consistently followed from year to year and would not be changed without prior notice to the Stock Exchange and to the company’s investors. 4. Financial statements were to be the representations of management. The auditor’s task was to inform stockholders whether the methods adopted by each company were actually being used, whether they were compatible with â€Å"generally accepted† principles of accounting, and whether they were being applied consistently. 5. The committee suggested that a qualified group of accountants, lawyers, and corporate officials draw up an authoritative list of accounting principles to help corporations in preparing their own lists of proceduresls. †¢The committee had two specific tasks: to educate the public as to why a variety of accounting methods was necessary, and to suggest ways to curtail this variety and gradually make the better methods universal. †¢In 1938 the Haskins and Sells Foundation commissioned three educators, T H Sanders (Harvard), H R Hatfield (Berkeley), and Underhill Moore (Yale Law School) ‚to formulate a code of accounting principles which would be useful in the clarification and improvement of corporate accounting and of financial reports issued to the public. In preparing â€Å"A Statement of Accounting Principles† they interviewed both makers and users of accounting data, reviewed the periodical literature, and studied laws, court decisions, and current corporate reports. †¢A seminal document in the evolution of the universalisation of accounting principles was Paton and Littleton’s â€Å"An Introduction to Corporate Accounting Standards† (1940), the most coherent statement of principles to emerge from this period. This document set the tone for much of the subsequent evolution of corporate financial disclosure practices in the ensuing decades. The last fifty years have seen greater flesh being added to this skeleton of financial reporting that evolved in the mid 1930s and 40s, somewhat contemporaneously in the United States as well as in Great Britain. This process of continuously raising the bar on disclosure standards is never-ending, as evidenced by the recent example being the Sarbanes-Oxley Act following the collapse of Enron. The creation of standardised financial statements is not a guaranteed safety ticket to proper institutional conduct, rather that it provides a springboard from which stakeholders can hopefully procure sufficient early warning signals about the true state of an institution. The fundamental principles behind the creation of these standards have been the guiding lights of all material and legislation: creating a level-playing field for all stakeholders by providing regular, detailed, and standardised information about the state of an institution. essay by charles