Was the Poor Law of 1834 Effective Essay Example for Free

Was the Poor Law of 1834 Effective Essay Agree with the three main doctrines. Malthuss principle Ricardos iron law of wages and Benthams doctrine The Act has been described as the classic example of the fundamental Whig-Benthamite reforming legislation of the period, based on three main doctrines: Malthuss principle that population increased faster than resources unless checked, Ricardos iron law of wages and Benthams doctrine that people did what was pleasant, and would tend to claim relief rather than working. http://wapedia. obi/en/Poor_Law_Amendmen†¦ Population increased faster than resources unless checked people do what is pleasant, and would tend to claim relief rather than working . The history of the Poor Law in England and Wales is usually divided between two statutes, the Old Poor Law passed during the reign of Elizabeth I and the New Poor Law, passed in 1834, which significantly modified the existing system of poor relief. The Poor Law system was not formally abolished until the 1948 National Assistance Act, with parts of the law remaining on the statute book until 1967. The Poor Law system fell into decline at the beginning of the 20th century due to several factors, such as introduction of the Liberal welfare reforms and the availability of other sources of assistance from friendly societies and trade unions, as well as piecemeal reforms which bypassed the Poor Law system . Despite these later edicts it is notable that the Poor Law Amendment Act did not ban all forms of outdoor relief. When the new Amendment was applied to the industrial North of England (an area the law had never considered during reviews), the system failed catastrophically as many found themselves temporarily unemployed, due to recessions or a fall in stock demands, so called cyclical unemployment and were reluctant to enter a Workhouse, despite it being the only method of gaining aid. The abuses and shortcomings of the system are documented in the novels of Charles Dickens and Frances Trollope. Despite the aspirations of the reformers, the New Poor Law was unable to make the Workhouse as bad as life outside. The primary problem was that in order to make the diet of the Workhouse inmates less eligible than what they could expect outside, it would be necessary to starve the inmates beyond an acceptable level. It was for this reason that other ways were found to deter entrance to the Workhouses. These measures ranged from the introduction of prison style uniforms to the segregation of inmates into yards – there were normally male, female, boy and girls yards. The Act stated that no able-bodied person was to receive money or other help from the Poor Law authorities except in a workhouse. Conditions were to be made harsh to discourage people from claiming. Workhouses were to be built in every parish and if parishes were to small parishes to group together to form Workhouse Unions. http://en. wikipedia. org/wiki/English_Poo†¦ The Poor Law Amendment Act 1834 sometimes abbreviated to PLAA was an Act of the Parliament of the United Kingdom passed by the Whig government of Lord Melbourne that reformed the countrys poverty relief system. It was an Amendment Act that completely replaced earlier legislation based on the Poor Law of 1601. With reference to this earlier Act the 1834 Act is also known as the New Poor Law. The Amendment Act was called for after an investigation by the 1832 Royal Commission into the Operation of the Poor Laws which included Edwin Chadwick, George Nicholls, John Bird Sumner and Nassau William Senior. The Act has been described as the classic example of the fundamental Whig-Benthamite reforming legislation of the period, based on three main doctrines: Malthuss principle that population increased faster than resources unless checked, Ricardos iron law of wages and Benthams doctrine that people did what was pleasant, and would tend to claim relief rather than working.

Mechanisms of Originality: Comparing Language Systems to Neural Systems :: Biology Essays Research Papers

Mechanisms of Originality: Comparing Language Systems to Neural Systems "When I was a boy I felt that the role of rhyme in poetry was to compel one to find the unobvious because of the necessity of finding a word which rhymes. This forces novel assocations and almost guarantees deviations from routine chains or trains of thought. It becomes paradoxically a sort of automatic mechanism of orginality ..." ---- Stan Ulam, Adventures of a Mathematician In a previous paper, I began exploring a comparison between language and DNA based on their function as information systems. In this paper, I would like to consider some of these issues further, as well as extend the comparison to the nervous system. The conversation was structured around the five "essential characteristics" of DNA; these are stability; variation; reproducibility; the ability to store information; and the ability for that information to be read. For this paper, I'd like to focus just on the criteria of stability by looking at what some researchers are saying now about the structure of language and the structure of the nervous system. One complication which is intrinsic to any kind of discussion like this is that the parallel lines one tries to pursue are only parallel in places; eventually they do overlap, and often they are indistinguishably tangled. The most obvious and forbidding example is that language is itself a product of neural function; thus, when one gets to the root of how sentences are understood and generated, the comparison to neural activity becomes moot, because in fact it IS neural activity (highly specialized and probably not easily generalized neural activity at that). Similarly, any discussion about the origins of language is also by definition a discussion of the evolution of the brain. I mention this only because I think that while the risk of chasing ones own tail is very real, the observations which arise from a consideration of the places where the two structures parallel one another (in an extremely basic way) are sufficiently interesting to warrant the attention. The simplest way to think about structure is in terms of building blocks or discrete units. With language, the most basic units are either letters or phonemes (9); the next level of organization is words; following words are series of words (which in Western languages are usually sentences). Interestingly, meaning is not acquired until letters have made the leap to words.

Law of Seas Notes

Limitations: Article 116 – there are 3 ways in which people who whose to fish on high seas are limited. What's the limitation of fishing on high seas. – answer Isn't 87, BUT article 116 treaty obligations must be complied with, rights and duties of coastal states must be respected. Articles 116-120 – relate to conservation and management of living sources on the high seas. Article 118 – says that countries should cooperate, subrogation fisheries and organizations so government agencies can assess what's being exploited so as to negotiate resources.Article 119 – when Investigating exploitation and resources, must use best scientific evidence that gives maximum sustainable yields. Consider dependent species – IPPP Can't be discriminatory and can't be against fisherman of particular state. Backwards from high seas what's the next zone – economic zone – distances are important – 24 to 200 nautical miles Then next zone is cont iguous zone – stretches from territorial zone out to economic zone. If you know these you can flick through the book what Is the contiguous zone and what does It do? What article relates to contiguous zone – article 33 – slide number 12.What is the limitation of the contiguous zone – a state MAY control immigration in the contiguous zone – we can stop them from gashing, Infringing customs laws, sanitary laws or any regulations within the territory or territorial sea ? If no legislation, state can do nothing. From where contiguous zone is measured – from baseline – coastline is Jagged therefore they use low watermark to do it. Need to know the article – whenever you get question, you must tell article. I OFF Territorial sea – articles 3, 17 and 18. Territorial limitation is key to security for a nation.Ships are actually allowed from foreign nations can travel through, only limitation on them is stout in article 18-21 â⠂¬â€œ got to tell what PASSAGE actually means (article 18). Can't enter internal waters (where sea enters rivers) but allowed to traverse the sea. Must be expeditious (article 18(2)) got to keep going – expeditious (check dictionary) – relatively quickly. Always exceptions – legislation says well okay even though you have to keep going, you can anchor but only if it is part of your navigation procedures. That would mean ports authority would know (have permission).However, it says that force measure (serious intervention in the normal course of undertaking – e. G. Wild storm) so you can port for protection – or distress call – you can render assistance from ships, aircraft. You can only travel in territorial waters if passage is innocent (look at 19 and 21 said lecturer) – article 19 – meaning of innocent passage – 19(1) not prejudicial to the peace of the state, good order or security. Under article 19(2) – shows what ship cannot do through territorial waters. Question on innocent passage. Marks taken off if you go to wrong subsection – read question carefully.Foreigners not allowed to fish in territorial waters. Do need to know article 19. Article 21 – allows laws and regulations of coastal state in respect to the territorial sea – innocent passage. Must be inline with UNCLOGS and international law. Safety of navigation, protection of navigational aids and facilities is critical of innocent passage. Conservation of fisheries and marine ecosystem – ship cannot infringe fishing laws, can't pollute, no marine research. Article 24 – may not be a definite answer and take two sides e. G. If this if that, may be because of this etc.Reason through a problem. Duties imposed upon a coastal state: Mustn't hamper passage of foreign ships. Can't impose requirement on foreign ships which deny innocent passage. Can't discriminate – e. G. One from France, Italy, I ndonesia – can't go to Indonesia automatically (defiance of 24 1(b)). Must warn of any likely danger – e. G. Buoys etc. (24 article) Article 25 – coastal state can do anything where they think that the passage is not innocent. Got to refer to 19 and has to have reasonable proof. Rights of coastal states Only require to know certain articles put up in learn (slides).Don't want you to look at other articles Section 3 of the exam (consisting of 5 questions and 12 marks will be to do with End of the line – documentary 1 billion people out of 7. 3 billion rely on fish as source of protein instead of chicken/ other meats/ the likelihood of seafood running out by 2048 is high – not long to make stance Once fisheries collapse 250 million people will have there food supplies threatened 70% of global fisheries are beyond there capacity 90% of large fish in ocean have been fished out 1% of the worlds industrial fishing fleets result in 50% of world catches â €“ what on earth can be done?Mediumistic – blue fin tuna – largely responsible. Also the large fishing trawlers. Global fishing fleets now are 250% larger than the oceans can sustain Only 6% of the worlds oceans are actually protected e. G. Bahamas. We have got areas around news coastline protected. Cog Clove area. 40% of worlds oceans would be natural reserves blue fin tuna is major problem – 6 billion worth of illegal blue fin tuna have been fished over last 20 years. Mediumistic is freezing them. Price of tuna fish on the market is $100,000 – imagine Mediumistic price later Enormous drop in shark species over last 20 years. 5 species have dropped by 50% Tuna catches use massive nets – killing thousands of turtles, sea birds and sharks which Just get dumped back in ocean. 22,000 tones is the legal limit for tuna – currently 60,000 tones. Illegal fishing worth 9 billion a year – 52% of fish stocks are now fully exploited. If we e stablish exclusion ones for fishing it is possible that the biodiversity in fish stocks will be able to come back – but will take years Suggested that you check what your eating is sustainable – if not – don't touch it.Lecture 13 (29/06/14) – High seas belongs to everybody, and can virtually do what you want. UNCLOGS – separates prevention reduction and control on marine pollution from the rules that conserve and manage living resources. Focused on second part – sustainability. Only other convention that protects Is there any convention in the world that controls the fishing of various stocks in the high seas and beyond the continental shelf – NO

Working Capital Management In A Manufacturing Company Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2079 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Era Buildsys Limited is the pre- engineering arm of the Era group of companies. An ISO 9001:2000, ISO 14001:2004 and OHSAS 18001:2007 certified company, Era Buildsys holds the distinction of being one of the single largest, fastest growing and fully integrated PEB manufacturing units at Pantnagar in North India. The Company is equipped with a fully integrated facility, an automated laboratory and ultra-modern machinery for offering complete turnkey Pre-Engineered Building (PEB) solutions for hi-end applications across diverse sectors. Don’t waste time! Our writers will create an original "Working Capital Management In A Manufacturing Company Finance Essay" essay for you Create order The groups construction prowess and over two decades of experience have armed Era Buildsys with remarkable design, execution, erection and on-time delivery capabilities. Working capital is the life blood of the company. From February to May 2011, I propose to conduct a thorough analysis of the working capital management at Era Buildsys Limited. I plan to study the working capital requirements of the company by analyzing the secondary information available in annual reports, company records and other internal reports. The project contain the basic postulates of working capital, procedure of analysis of working capital, ratio being used to define the working capital and the impact of working capital in the company in case of excess or inadequacy. Also, the project contains analysis of estimation of working capital requirement and the procedure to estimate working capital requirement in manufacturing and trading concern and from the data available it can be concluded that it holds a very strong position in the market. Working capital management is a very important facet of financial management due to: Investment in current asset represents a substantial portion of total investment. Investments in current asset and level of current liability have to be geared quickly to change sales. I also plan to collect the data regarding company policies, future plans, possible expansions etc. by interviewing head of departments and other staff for deriving my own set of assumptions to come out with the projected financial figures, which are needed for the completion of credit monetary assessment form. After compilation and tabulation of the above said data, I plan to analyze it with the help of different financial ratios and other financial instruments and compare the result with industry benchmarks, hence identifying the financial strengths and weakness of the company. Finally after a thorough analysis of the data, a set of most important attributes/ c omponents can be found out, which has a major contribution to the working capital cycle or requirement of the company. So that steps or methods can be identified to control or manage these components. Review of literature: Impact of Working Capital Management Policies on Corporate Performance-An Empirical Study Sushma Vishnani, Bhupesh Kr. Shah (2007) It is felt that there is the need to study the role of working capital management policies on profitability of a company. Conventionally, it has been seen that if a company desires to take a greater risk for bigger profits and losses, it reduces the size of its working capital in relation to its sales. If it is interested in improving its liquidity, it increases the level of its working capital. However, this policy is likely to result in a reduction of the sales volume, therefore of profitability. Hence, a company should strike a balance between liquidity and profitability. In this paper an effort has been made to make an empirical study of Indian Consumer Electronics Industry for assessing the impact of working capital policies practices on profitability during the period 1994-95 to 2004-05. The impact of working capital policies on profitability has been examined by computing coefficient of correlation and regression analysis between profitability ratio and some key working capital policy indicator ratios. Working Capital Management: A Study on British American Tobacco Bangladesh Company Ltd. Md. Sayaduzzaman (2007) The efficiency of working capital management of British American Tobacco Bangladesh Company Ltd. is highly satisfactory due to the positive cash inflows, planned approach in managing the major elements of working capital. Applications of multi-dimensional models of current assets mix may have positive impact on the continuous growth development of this multinational enterprise. This depends on co-operation of the stakeholders and business environment in the context of globalization. The Effect of Working Capital Management on Firm Profitability: Evidence from Turkey F. Samiloglu and K. Demirgunes (2008) The aim of this study is to analyze the effect of working capital management on firm profitability. In accordance with this aim, to consider statistically significant relationships between firm profitability and the components of cash conversion cycle at length, a sample consisting of Istanbul Stock Exchange (ISE) listed manufacturing firms for the period of 1998- 2007 has been analyzed under a multiple regression model. Empirical findings of the study show that accounts receivables period, inventory period and leverage affect firm profitability negatively; while growth (in sales) affects firm profitability positively. Working Capital Management, Growth and Performance of New Public Companies By Beneda, Nancy, Zhang, Yilei (2008) The current study contributes to the literature by examining impact of working capital management on the operating performance and growth of new public companies. The study also sheds light on the relationship of working capital with debt level, firm risk, and industry. Using a sample of initial public offerings (IPOs), the study finds a significant positive association between higher levels of accounts receivable and operating performance. The study further finds that maintaining control (i.e. lower amounts) over levels of cash and securities, inventory, fixed assets, and accounts payables appears to be associated with higher operating performance, as well. We find that IPO firms which are experiencing unusually high growth tend not to perform as well as those with low to moderate growth. Further firms which are experiencing high growth tend to hold higher levels of cash and securities, inventory, fixed assets, and accounts payables. These findings tend to suggest that firms are willing to sacrifice performance (accept low or negative operating returns) to increase their growth levels. The higher level of growth is also associated with higher operating and financial risk. The findings o f this study suggest that perhaps IPO firms should stay more focused on their operating performance than on maintaining high growth levels. Working Capital and Financial Management Practices in the Small Firm Sector Michael J. Peel, Nicholas Wilson (2008) MICHAEL J. PEEL IS A LECTURER IN accountancy and finance at Cardiff Business School, University of Wales, and Nicholas Wilson is Professor of Credit Management at the University of Bradford, England. Very little research has been conducted on the capital budgeting and working capital practices of small firms. The purpose of this paper is to present the results of a preliminary study on the working capital and financial management practices of a sample of small firms located in the north of England. In general, the results of the survey indicated that a relatively high proportion of small firms in the sample claimed to use quantitative capital budgeting and working capital techniques and to review various aspects of their comp anies working capital. In addition, the firms which claimed to use the more sophisticated discounted cash flow capital budgeting techniques, or which had been active in terms of reducing stock levels or the debtors credit period, on average tended to be more active in respect of working capital management practices. It is hoped that the issues raised will stimulate further theoretical and empirical contributions on this neglected and important area of small business research. Study on working capital management Stuttgart/Munich, June 29, 2009 Roland Berger Strategy Consultants study on working capital management: Optimizing current assets helps tap into cash potential and build buffers against insolvency Our study entitled Working capital Cash for recovery looks at 216 European companies with total sales of EUR 3,700 billion and total EBIT of EUR 422 billion Presently, the insolvency risk is increasing as higher cash requirements coincide with reduced cash supply and high financing costs Internal sources of finance are becoming more interesting: one of the main lever is tapping into the cash potential in working capital The companies surveyed had a combined potential of EUR 353 billion in Q1 2009, roughly one third more than in 2008. Relative to tied-up working capital, utilities and engineered products companies have the greatest cash reserves hidden in their working capital. In the current economic situation, companies are facing a higher risk of insolvency. On the on e hand, they need more cash; on the other, lenders are more tightfisted than usual and the financing costs are higher. In its study entitled Working capital Cash for recovery, Roland Berger Strategy Consultants has analyzed 216 European companies by taking a close look at their internal sources of finance. Result- At the moment, releasing the cash reserves hidden in working capital offers the greatest potential for improving liquidity. According to the Roland Berger experts, the companies surveyed had a total cash potential of EUR 353 billion. This turned out to be especially true for utilities and engineered products companies. In the current recession, working capital is emerging as a key source of internal finance, says Roland Schwientek, Partner at Roland Bergers Operations Strategy Competence Center. Increased cash requirements and a reduced cash supply with higher financing costs combine to increase the likelihood of insolvency. In their study called Working capital Ca sh for recovery, the experts highlight alternative sources of internal finance: As some traditional sources of cash have dried up, the most promising solution is to tap into the liquidity potential hidden in working capital, says Schwientek. According to the experts, internal finance based on optimized working capital is much more effective than external finance. Even small improvements in receivables, inventories and payables can generate significant reductions in external finance requirements. Objective of the Project: To make item wise analysis of the elements or component of working capital to identify the items responsible for change in working capital. To study liquidity position of the company by taking various measurement. To analyze the management of Non- Fund based Working Capital limits of the company. To evaluate companys performance relating to financial statement analysis. To find out the utility of financial ratio in credit analysis and determining the financial capacity of the company. To identify the effectiveness of working capital management in Era Buildsys Limited and make suggestions for its improvement. Methodology: Collection of Data: In this project, I intend to collect the primary and secondary financial data about the company through various sources which are within and outside the company like annual reports, corporate magazines, policy manuals of different department etc. Collection of the primary financial data by interviewing the executives and staff of the company. Understanding the assumptions made by the company for the projection of its financial reports. Research Design: The research design for the comparative study is of exploratory type and the focus is given to discover the possible measures, by detailed analysis, for the company which would be helpful up to some extent to retain a good position in the competitive market. The research design is not formal and rigid one as the focus depends upon the availability of new ideas and relationship among variables. Analysis of Data: In order to analyze the data I would be using various tools. Those are as follows: Ratio analysis: It is an i mportant and age-old technique. It is a powerful tool of financial analysis. It is defined as the indicated quotient of two mathematical expression and as the relationship between two or more things. Systematic use of ratio is to interpret the financial statement so that the strength and weakness of a firm as well as its historical performance and current financial condition can be determined. Trend analysis Analysis of components of working capital Schedule: EXPECTED DATE ACTIVITY 31stMarch 2011 Study of literature available on the topic 10thApril 2011 Collection of relevant data 14thApril 2011 Analyze the collected data and use technical analysis 15thApril 2011 Submit the interim report 25thApril 2011 Interpret the data 30thApril 2011 Contact executives working in various departments and collect their views on the topic and result of the data. 7thMay 2011 Draft the project report 14thMay 2011 Edit the report and submit it to the organization and college Limitations of the study: The financial statements contain only historical data and would not necessarily reflect the future. It is difficult to account in price level changes in financial accounting. The reliability and accuracy of calculations and interpretation depends very much on the information supplied in the form of annual reports and other records. The bank may or may not show true financial result in annual report. Time factor plays a vital role. The study was conducted within 14 weeks is restricted for a period of three years.