Datasets:

HIT-TMG

/

YiZhao

like 3

Follow

HITsz-Text Machine Group 31

E-commerce has created several tax-related issues for corporations conducting business across states without a physical footprint. This blog will discuss the sales tax implications for online businesses. What is Sales tax? Sales tax is collected by businesses from customers at the point of purchase. The tax is later collected by the government from the business. Sales tax rates vary in each state. What is “Tax Nexus” or “Economic Nexus” for Sales Tax? A business must be connected to a state in order for that business to collect sales taxes. For businesses that have a physical presence in the state, the connection is called “sales tax nexus.” Each state’s definition of “physical presence” for sales tax nexus differs slightly, but some common examples would be having an office, having a warehouse, or having employees in that state. Economic nexus is sales tax nexus, but for online businesses. Online businesses need a different standard because they are not physically present in the state. The standard for economic nexus is that if a company makes a certain amount of sales in a state, it must collect sales tax from buyers in that state. The threshold of “amount of sales” may be a certain number of transactions or a dollar amount depending on the state. Almost every state has adopted economic nexus laws. As of the end of 2019, Florida is one of few states that has not adopted an economic nexus law. Pending proposed legislation, the Florida Department of Revenue has found alternates ways to enforce economic nexus principles and collect sales tax from online businesses. What Does Economic Nexus Mean for Online Sellers? If an online retailer reaches the economic nexus threshold of a certain state, that state can pursue sales tax from the online businesses. Although the threshold varies by state, the most common threshold is $100,000 in sales or 200 transactions. However, because Florida does not have a statute, the threshold is unclear.

Education externalities are social or public benefits from the education of each individual that benefit others in the society in both current and future generations. Titled Social and External Benefits of Education, chapter 6 of the publication, International Handbook on the Economics of Education, explores the non-market private or the non- market externality benefits of education that are taken into account by individuals when they make their decisions about how far to go in school. The paper defines the theoretical basis for the identification and estimation of education externalities, including distinguishing market from non- market impacts, as well as a static shorter-term view from a dynamic longer- term view of the neoclassical model. It also presents a taxonomy of education’s public good externalities and reviews estimates in the literature of the overall size and value of these externalities. It considers estimates of the non-market impacts of education on specific development goals, and identifies the separate private non-monetary returns in order to distinguish them from the public good development outcomes. Finally, it considers the implications for investment criteria, and summarizes the conclusions, qualifications and the needs for further research. This document may be accessible through your organisation or institution. If not, you may have to purchase access. Alternatively, the British Library for Development Studies provides a document delivery service.

Dr. Lundgren experiences in a series of articles. Several social, economic and land use trends have an impact on current and future use of forests and trees in Africa. Deforestation and forest degradation In spite of the growing awareness about the importance of forests (see earlier article), deforestation and forest degradation are still rampant in many parts of Africa, notably in West and East Africa, even if the rate has gone down marginally in the last decade – from c. 4.1 million ha/y (0.56%) in the 1990-2000 period and 3.4 million (0.49%) in the 2000-2010 decade. Although there are many causes for the degradation, the clearing of wooded lands for low-yielding agriculture is still the main reason. Rapid economic development A more positive trend is the rapid economic development in many African countries – there was an average annual growth rate in GDP of 4.8% in the 2001-2010 decade, and the trend continues – Sub-Saharan Africa is predicted to have a growth of 5.2% in 2014. Following this is a quick growth in middle income groups (in 2011, 60 million African households earned at least USD 3 000) and in urbanisation (40% of the population live in cities), which have resulted in a very significant rise in demand for wood- and fibre-based products, from charcoal, via construction wood, paper products and standard furniture and interior design features (flooring, doors, window frames, etc.), to more luxury items such as exclusive furniture. A large part of these increased needs are still imported but more and more investors, both local and international, see the potential in the forest sector in Africa. The globalisation of trade and markets, Africa’s strategic geographical position and its apparent potential for exporting wood-based products (and not only logs as today) further underline this trend. Countries like China, India and Brazil have vastly increased their investments on the continent, so far mainly in the energy (oil, gas and hydropower), mineral, construction and infrastructure, mechanical industry and agricultural sectors, but increasingly also in the forest sector. Search for available land The latter point leads us to a more controversial trend affecting the future of forestry in Africa, viz. that of increasing search for available land for expanding food, fibre and fuel production. Africa is a continent which certainly has vast expanses of land with sparse population and extensive current land use – e.g. the miombo woodlands of Southern Africa and the rain forest regions of Central Africa – suitable for large scale production of food and energy crops and timber plantations. The scramble for such land, both by local and foreign investors, has exploded in the last 10-15 years. It has led to many conflicts and disagreements between investors, governments and local communities, and the characterisation of such investments as land grabbing and theft is often heard. However, there are an increasing numbers of very good examples where investors, local communities, and local and national governments have come to very satisfactory arrangements with benefits to all concerned. Shift in commercial tree production towards farms and communities Another trend worth highlighting, partly addressing similar problems and potentials as that of land availability, but mainly operating in more densely populated areas, is that of a shift in commercial tree production towards farms and communities. As a result of increased demands for timber, but also of improved land tenure conditions and declining real prices of agricultural cash crops, famers in many areas in Africa have realised the potential of investing in tree growing for sale – as timber to local sawmills, scaffolding poles to building companies, charcoal for urban people, etc. – as a source of income comparable to other crops. Sometimes this is done on a contractual basis as out-growers to forest industries, e.g. in South Africa. This trend has also resulted in, and been made possible by, a rapid increase in tree grower associations and cooperatives, e.g. in Eastern and Southern Africa. Forests and their management in relation to climate change On the international policy and development scene, a very strong trend in the last decade has been to increasingly and singularly regard forests and their management in relation to climate change and the ongoing discussions on this topic. This is also of relevance to and affects Africa – no forest-related development and economic undertaking, new policy, research and education programme, conservation effort, etc., can be launched without predominantly justifying it for its impact on climate change mitigation and/or adaptation. While this may be positive in that it puts a new focus on forests and forestry, and attracts previously unheard of amounts of funds for forest-climate initiatives, it also has drawbacks. The most problematic one is that this focus on climate change takes attention away from the enormously important current and potential roles of sustainably managed forests and trees as drivers of economic development and poverty alleviation. Or, from the much more immediately important needs of conserving forests for biodiversity protection and hydrology enhancement. However, there are many positive signs today that funders of various REDD+, carbon credit and climate mitigation programmes realise that without putting economic and conventional conservation effects in the foreground, it will not be realistic to achieve major positive impacts on climate through forest-climate” programmes. Share Dr. Björn Lundgren experiences This is the fourth article in a series of articles were Dr. Björn Lundgren share his experiences from Africa. During the last months several articles have been published about e.g. policy processes, trends, potential roles of forests and trees in Africa to address challenges and potentials. Author: Dr. Björn Lundgren, Editor: Dr. Fredrik Ingemarson Photo. Prof. Godwin Kowero Earlier articles by Dr Lundgren Sun, X., P. Ren and M. van Epp, 2014. Chinese views of African forests: evidence and perception of China-Africa links that impact the governance of forests and livelihoods. Natural Resource Issues No. 29. IIED, London. KSLA, 2012. The global need for food, fiber and fuel. Land use perspectives on constraints and opportunities in meeting future demands. KSLAT 4:2012. Chipeta, M., 2012. Land acquisition for food and fuel and implications for development, food security and forests: a view from African countries with perceived land resources. KSLAT 4:2012. Pp 65-77. Johansson, K-E., C. Nantongo, P. Gondo, A. Roos and D. Kleinschmit, 2013. Community based forest groups in Eastern and Southern Africa – a study of prospects for capacity improvement. International Forestry Review, 15(4):471-488. Chidumayo, E., D. Okali, G. Kowero and M. Larwanou (eds.), 2011. Climate change and African forest and wildlife resources. 249 pp. African Forest Forum, Nairobi. ETFRN, 2014. Linking FLEGT and REDD+ to improve forest governance. European Tropical Forest Research Network. ETFRN News N0. 55. 212 pp.

The CIP Report: Integrating Renewable Power, Securely “The concept of protecting electric system critical infrastructure is longstanding and deeply ingrained in the industry.” The concept of protecting electric system critical infrastructure is longstanding and deeply ingrained in the industry. Almost any utility worker will tell you that her or his primary duty is "keeping the lights on." Threats to electric infrastructure include severe weather, physical and cyber attacks, electromagnetic pulses, geomagnetic disturbances, interdependence with other critical infrastructure, such as telecommunications, fuel and water, pandemics, human error, and uncontrolled (cascading) operational failures on neighbouring systems. Given the lack of storage, the speed of transmission, and the interconnectedness of the system, there are few other types of infrastructure, telecommunications being perhaps the only exception, where the impact of a failure is felt so widely, so quickly. For example, on August 14, 2003, the contact between a tree and a wire in Ohio at 2:02 p.m. set off two hours of increasing instability of the grid in the Cleveland-Akron area, which by 4:05 p.m., could no longer be controlled, resulting in a cascading blackout affecting approximately 50 million people in the north-eastern United States and Canada ("the 2003 Northeast Blackout"). The 2003 Northeast Blackout, like the massive blackout that affected the Northeast in 1965, became a turning point. The 1965 blackout spurred the growth of power pools and increased cooperation among utilities. The 2003 Northeast Blackout resulted in legislation that set the framework to transform the North American Electric Reliability Council, an industry-run organization that relied primarily on voluntary cooperation among utilities, into the North American Electric Reliability Corporation (NERC), an independently funded reliability organization tasked with developing and administering mandatory reliability standards (Reliability Standards), subject to oversight and enforcement, including civil penalty assessments, by the Federal Energy Regulatory Commission (FERC). In the area of critical infrastructure protection (narrowly defined), the Reliability Standards include measures for perimeter control of critical assets and reporting of threats; other Reliability Standards specify operational safeguards ranging from training requirements to relay settings. In September 2011, FERC proposed to adopt revised cyber security standards that, among other things, would impose "bright line" criteria for identifying critical assets. Notwithstanding these efforts, grid security is an elusive prey. As recently as September 8, 2011, a blackout originating in Arizona caused a loss of power to southern California, parts of Arizona, and Mexico's Baja peninsula, including every customer of San Diego Gas & Electric Company. Ultimately, protection must include both efforts to prevent problems from occurring, and enhancing the grid's ability to withstand and recover from those stresses that cannot be avoided. This article is provided for your convenience and does not constitute legal advice. It is prepared for the general information of our clients and other interested persons. This article should not be acted upon in any specific situation without appropriate legal advice, and it may include links to websites other than the White & Case website. White & Case LLP has no responsibility for any websites other than its own, and does not endorse the information, content, presentation or accuracy, or make any warranty, express or implied, regarding any other website White and Case LLP is a leading international law firm , founded in New York in 1901, it has 38 offices in 26 countries around the world. With such a global presence the firm provides counsel and representation to a wide range of clients from state governments to multinational businesses and firms from construction companies to investment banks. White and Case are in constant direct contact with the world's most influential antitrust , authorities through the multijurisdictional specialists in our Washington, New York and Brussels offices Author - Aatif Tags - International law firm, Antitrust, Commercial Litigaton Disclaimer - The author of the above article is solely responsible for the content of the above article. DailyOjo is not liable for the content of the above article. Report Spam/Abuse

Thank you to Michael Blackhurst for sharing this with the community. Please see the lab page here: http://www.cmu.edu/gdi/docs Life-cycle assessment was used to evaluate the widespread installation of green roofs in a typical urban mixed-use neighborhood. Market prices of materials, construction, energy conservation, storm-water management, and greenhouse gas GHG emission reductions were used to evaluate private and social costs and benefits. Results suggest green roofs are currently not cost effective on a private cost basis, but multifamily and commercial building green roofs are competitive when social benefits are included. Multifamily and commercial green roofs are also competitive alternatives for reducing greenhouse gases and storm-water runoff. However, green roofs are not the most competitive energy conservation techniques. GHG impacts are dominated by the material production and use phases. Energy impacts are dominated by the use phase, with urban heat island UHI impacts being an order of magnitude higher than direct building impacts. The quantification of private and social costs and benefits should help guide green roof policy. Results should encourage green roof enthusiasts to set appropriate life-cycle assessment boundaries, including construction material impacts and UHI effects. While green roofs have been used for centuries, their introduction into the U.S. urban environment is much more recent, gaining popularity only in the last few decades Dunnett and Kingsbury 2004. A green roof covers a building roof with vegetation and soil, usually above a waterproof membrane, drainage layer, and insulation. While green roofs have higher initial costs than traditional roofing, green roofs have a diverse array of potential benefits Dunnett and Kingsbury 2004, such as 1. Reducing building cooling loads by preventing excess heat from entering buildings; 2. Mitigating the urban heat island at appropriate scales and density by providing a medium that uses excess heat to create water vapor; 3. Reducing storm-water runoff by retaining precipitation; 4. Sequestering carbon dioxide and pollutants in biomass; 5. Improving aesthetic values or providing recreational benefits; 6. Creating wildlife habitat; and 7. Providing noise reduction in buildings. In this paper, we will focus on the first four benefits listed above, considering what valuation of these benefits make green roofs cost-effective. Past green roof research is limited in scale and scope. Studies often focus on a single benefit for a specific building or group of buildings. Stovin 2009 and Bliss et al. 2009 found through experimentation that green roofs signifi- cantly reduce both the peak and volumetric flow of urban stormwater runoff. Saiz et al. 2006 found a 6% reduction in summer cooling load for a multifamily building in Madrid, Spain. Wong et al. 2003b and Sfakianaki et al. 2009 have found similar reductions to building cooling demands resulting from green roofs. Several researchers have considered the impact of green roofs on the urban heat island. Through modeling, Bass et al. 2003 found a 1% reduction in the ambient temperature for 50% green roof coverage in Toronto. Rosenzweig et al. 2006 found a 0.3°F – 0.9°F reduction in New York City neighborhood temperatures depending upon the extent of green roof coverage. Planning officials expect a 1.5°F reduction in Tokyo with a green roof coverage of 1,200 ha Peck 2001. Green roof enthusiasts suggest that green roofs have a longer service life than conventional roofs due to: 1 reduced membrane heat exposure; 2 reductions in water ponding; and 3 stringent waterproofing standards Dunnett and Kingsbury 2004. Coffelt and Hendrickson 2008 found that conventional, commercial roofs have a minimum cost service life of 30 years for a location in Pittsburgh United States. Peck et al. 2003 claimed that a green roof service life is twice that of a conventional roof in Europe but do not provide supporting data. Green roof design standards have become available only recently, and their application in the United States is uncertain. Until recently, the German FLL guidelines were the only standards applied in the United States Roofscapes Inc 2010. However, the FLL standards have only been published in English since the mid-1990s, and it is unclear to what extent these standards have been applied in the United States. ASTM has been introducing American standards only over the past five years ASTM 2010. Carter and Fowler 2008 summarized existing federal, state, and local green roof policies with a particular emphasis on stormwater management. Both Carter and Fowler 2008 and Corburn 2009 suggested a lack of empirical data and uncertain benefits 1 Graduate Student, across public and private agents make green roof policy development challenging. No doubt a lack of design standards contributes to the risk of paying increased costs for green roofs. By expanding both the scale of green roof installations and scope of benefits analyzed, we attempt to clarify the role of green roofs in the urban environment. While green roofs offer environmental benefits over a building’s lifetime, i.e., during the “use” phase, they typically cost more and require more materials for construction the “materials” and “construction” phases. While the added expense of a green roof is a private cost, many of the benefits are public and external to the building owner. Life-Cycle Analysis Method Life-cycle assessment techniques were used to evaluate the environmental impacts of the widespread installation of green roofs on a typical urban building stock. The functional unit for basecase analysis is replacing approximately 6.5 million sq ft of traditional roofing with a green roof in an urban neighborhood. Table 1 summarizes the functional unit, which represents 30% of the roofing in a typical mixed-use urban neighborhood serviced by combined sewers. The building stock characteristics summarized in Table 1 are generally consistent with those defined by the Energy Information Administration 2005, 2008, which suggest commercial floor space is typically about 35% of residential floor space in urban areas. We assumed an annual average rainfall of 40 in per year, which is representative of Pittsburgh. The base case planning horizon is 30 years and the discount rate is 5%. Green roof replacements are evenly distributed over a 10-year period. While green roof studies typically cite a 45-year service life, we conservatively assume 30 years based upon the uncertainty in expected green roof service life discussed above. An annual “background” replacement of traditional roofing of 3% is assumed. In other words, 3% of existing roofs would be replaced annually absent any green roof retrofit program, and we assume these replacements are new green roofs. The costs and impacts of green roofs thus represent incremental changes relative to background traditional roof replacement during the planning horizon. Three life-cycle phases are considered: 1 material production; 2 on-site construction; and 3 use. Three impacts are modeled: 1 energy use; 2 greenhouse gas emissions; and 3 stormwater runoff. For example, the GHG impact is the difference between the emissions resulting from roof material preparation and construction and the emissions mitigated during the use phase. Use phase emissions are mitigated in three ways: 1 direct building cooling demand reductions; 2 indirect building cooling reductions resulting from urban heat island impacts; and 3 the reductions to the energy required to treat storm water in combined collection systems. Economic-input output life-cycle assessment EIO-LCA techniques are used to track impacts for the material production phase Carnegie Mellon University CMU 2009; Hendrickson et al. 2005. The literature was reviewed to develop material profiles and prices specific to each green roof layer Guggemos 2006; Green Roofs for Health Cities 2006; Ngan 2004; Dunnett and Kingsbury 2004; Kosareo and Ries 2007; Chandler 2001. A summary of EIO-LCA inputs can be found in the Supplemental Materials in Table S1. Direct on-site impacts are modeled using an EIO-LCA vector developed for the construction industry Sharrard 2007. Use phase impacts are modeled using literature values of expected storm-water runoff reductions, direct building cooling energy savings, and indirect energy savings resulting from urban heat island reductions. Land Use and Hydrology Traditional roofs divert all precipitation to runoff. Green roofs retain a fraction of precipitation, thus reducing storm-water runoff and associated impacts. Empirical and modeling studies indicate that green roofs reduce approximately 50% of annual storm-water runoff Carter and Rasmussen 2006; Hoffman 2006; DeNardo et al. 2003; VanWoert et al. 2005; Stovin 2009; Bliss et al. 2009. Here, the total storm-water runoff reductions were estimated by multiplying the area of green roof coverage times the annual average rainfall reduction 20 in.= 40 in.50% reduction. Land use changes that result in CO2 sequestration in the green roofs were based on grassland literature values Tilman 2006. However, these amounts are small, ranging from 0.02 to 1.1 lb per square foot of green roof for grassland growth over a 30-year planning horizon Tilman 2006. Storm-Water Treatment In combined sewer service areas, storm water from buildings is typically piped to the collection system. As a result, excess runoff may be conveyed to a treatment plant or overflows into a receiving water body. Here, we assume all excess runoff is treated. The energy required to treat storm-water runoff was assumed to be equal to that required for municipal wastewater Tchobanoglous et al. 2003; Sahely et al. 2006; Lundin and Högskola 1999. Direct Building Energy Historical household energy use estimates were taken from Energy Information Administration EIA 2005, 2008. The literature indicates that a green roof reduces annual household energy consumption by 1% Saiz et al. 2006; Wong et al. 2003b. The Table 1. Functional Unireduction stems from using less electricity for cooling. A literature comparison indicates similar green roof thermal performance in a variety of climates Saiz et al. 2006; Wong et al. 2003a; Dunnett and Kingsbury 2004; Liu 2002; Onmura et al. 2001. In multistory buildings, we account for reductions in only the top floors. The two highest floors are impacted at 100%; floors greater than four stories from the roof are not impacted; and impacts marginally decrease between these floors. This approach is consistent with building energy modeling results from Saiz et al. 2006. We assume similar impacts for commercial buildings. Urban Heat Island Reductions—Indirect Building Energy Green roofs reduce the urban heat island UHI by providing a medium for evapotranspiration and altering the surface albedo. A reduction to the UHI indirectly reduces building cooling demands. The indirect building energy demand reductions were modeled as proportional to the percent of the total service area converted to green roofs based upon values reported in the literature Akbari et al. 2001; Bass et al. 2003; Rosenzweig et al. 2006; Peck 2001; Taha et al. 1999. Table 2 summarizes the base-case impact assessment methods. All base-case model parameters, as well as other model input diagnostics, are shown in the supplemental material in Table S2. Table 3 summarizes national average retail prices of storm-water management Fisher et al. 2008, energy costs Energy Information Administration EIA 2009, and greenhouse gases Capoor and Ambrosi 2008 used to quantify benefits and perform a shadow cost analysis. Environmental benefits were not discounted. We assume all costs are private and borne by building owners. Direct building energy reductions are the only benefit considered to be private. Reductions to the urban heat island, GHG reductions, and storm-water runoff reductions are all considered social benefits. While building energy savings associated with reductions to the UHI would be realized by building owners, we assume these benefits can only be realized through a coordinated extensive green roof construction program such that UHI impacts should be considered public benefits. Results Table 4 shows the estimated capital costs and material and construction phase impacts for the functional unit shown in Table 1. Table 4 indicates that energy use and GHG emissions associated with the material production phase dominate those associated with the construction phase. Tables 5–7 show the environmental impacts and public and private benefits associated with the use phase. Table 5 indicates that the private benefits of reduced electricity use are an order of magnitude lower than the public benefits created by reducing the urban heat island. Table 6 indicates that reductions in GHGs during the building use phase are dominated by reductions in the urban heat island. GHG reductions from using less electricity directly are an order of magnitude lower. Table 7 indicates that storm-water runoff reductions are on the order of 20 million gal per year around 600 million gal over a 30-year period. A traditional cost effectiveness analysis is complicated by the fact that a single cost results in multiple benefits. As an alternative to cost effectiveness, we use shadow pricing to estimate the implied value of the each benefit. If the market value of all but one Table 2 of the benefits is subtracted from the total cost, the remaining cost is the “shadow cost” of the remaining benefit. For example, the total cost of green roof replacements for all building types is $17 million Table 4, and the sum of the GHG and storm-water benefits is $2.6 million Tables 6 and 7. This means that the shadow cost of $14.4 million $17 million− $2.6 million was implicitly spent on reducing 110,000 MWh of electricity, at a shadow price of approximately $0.13 per kWh. Table 8 summarizes the shadow price analysis and shows benefit-cost ratios for the public and private sectors. Table 8 indicates that green roofs are not economically competitive on a private benefit-cost basis, with the private benefit-cost ratio being less than 5% for all building types. Results indicate that multifamily and commercial buildings are cost effective on social basis, with the social benefits being nearly equal to the costs. Shadow pricing indicates that green roofs are cost-effective alternatives for GHG mitigation and storm-water reductions for multifamily and nearly so for commercial buildings. None of the building types are cost effective energy reduction strategies. The energy savings shadow costs for multifamily and commercial green roofs are approximately 10 and 5% less than national average market prices, respectively. Table 9 summarizes the relative distribution of costs and impacts for the functional unit. Negative values reflect a cost, emissions generated, or energy used. Positive values reflect a savings. Table 4 indicates that use phase GHG and energy impacts are dominated by reduction to the heat island, with direct energy use, storm water, and sequestration impacts being relatively negligible. Green roof material production accounts for 20–30% of the GHG impacts but contributes negligibly to energy use. Historical national energy use averages Energy Information Administration EIA 2008 suggest multifamily and commercial buildings are less energy efficient per floor space than singlefamily homes. In addition, single-family homes have significantly more roof space per household then multifamily homes. As a result, single-family homes are less cost effective than multifamily and commercial buildings. A one-way sensitivity analysis was performed to quantify regional variation in costs and benefits. Sensitivity results, summarized in Fig. 1, suggest that electricity pricing, the number of building floors, heat island impacts, and the scale of green roof conversions are dominant parameters. The model is less sensitive to material and construction costs, household size, and hydrologic impacts. The model is highly insensitive to assumptions regarding market values of storm-water management and GHGs. The sensitivity results also suggest that many regional factors can cause a “switchover” from cost effective to not cost effective, especially for commercial buildings. Regional grid emissions, local labor rates, and hydrologic factors all cause “switchovers” for multifamily and commercial buildings. These results highlight the need for local policies to be informed by regionally specific technical analysis. Discussion These results suggest that green roofs have a role in achieving more environmentally sustainable cities, but that role may be limited to regionally specific commercial and multifamily buildings. Results suggest green roofs are more effective in regions with higher than average electricity rates, multistory building stock, and climates that readily demonstrate reductions to heat islands with the introduction of green roofs. Note that this model does not adjust material and construction prices based upon the number of building floors, an assumption that may limit the results and conclusions. We promote considering urban sustainability interventions relative to at least three metrics: initial cost, annualized cost effectiveness, and total effectiveness Blackhurst et al. 2009. The annualized cost effectiveness should reflect operating costs or savings generated by the intervention. The total effectiveness should reflect physical limitations. For green roofs, the total effectiveness would be limited by the maximum green roof coverage. For example, the 1,900 multifamily green roof conversions in this study’s scope have an initial cost of $1,400 per household, an annualized cost effectiveness of $8 per MT of GHG mitigated, and a total effectiveness of approximately 6,600 MT mitigated over 30 years 8,700 MT mitigated minus 2,100 MT generated during materials production and construction. Attic floor insulation has an initial cost of $340 per household, an annualized effectiveness of $16 saved per MT of GHG mitigated, and a total effectiveness of 850 MT of GHG mitigated. By comparison, attic floor insulation is less expensive and generates savings while mitigating GHGs. However, attic insulation can only mitigate 5% of the carbon that green roofs can. Shadow cost analysis suggests that green roofs are cost effective strategies for managing storm water and reducing GHGs. These benefits are generally considered social goods, whereas the costs of green roofs are primarily private. Similar recent research has demonstrated that the environmental benefits of green roofs may not exceed their costs. Carter and Keeler 2008 demonstrated that the cost of green roofs installed in a watershed near Atlanta are approximately 10% higher than the environmental benefits of storm-water management, energy reductions, and improvements to air quality over a 40-year period. Carter also found that the social benefits exceed the private benefits. Note that our results pertain to replacing traditional roof in typical urban mixed-use neighborhoods with green roof systems common in the literature. Green roofs may perform very differently under different circumstances, such as applications to “big box” commercial buildings or new construction. Using alternative materials—such as systems that do not use plastic layers—may also limit our results. While not well understood, the impact of green roofs on the urban heat island may be significant. Our approach is to model reductions in building energy use as a linear function of total green roof coverage. While we leverage a limited pool of existing literature to prepare our model, a linear response is likely overly simplistic. However, the limited information available suggests that urban heat island reductions may be the most significant environmental benefit of green roofs. Future research should elucidate these benefits, recognize regional climate variations, and should be useable by local policy makers for incorporation into land use plans and building codes. Material phase life-cycle assessments are uncertain without detailed green roof designs and specifications as well as pricing details. Existing specifications are loosely based upon a description of green roof layers, without reference to specific materials for impact assessments. Life-cycle assessments of green roofs would be greatly improved by standardization. Recent work by Theodosiou 2009 echoes a similar need for standardized material specifications. Green roofs are not as marginally expensive relative to traditional roofs in Europe as they are in the United States. This could be due to limited intellectual capital, limited physical capital, or both. Understanding these differences may lead to cost reductions in green roof installations, which would significantly improve the environmental cost effectiveness of green roofs. Finally, we emphasize that our functional unit, pricing, and environmental impacts reflect national averages. The one-way sensitivity analysis partially captures the impact of regional variations, with the social benefit-cost ratio being highly sensitive to regional factors such as the price of electricity, building size, and labor costs. Regional conditions should be considered by local authorities when designing green roof policy programs. References Akbari, H., Pomerantz, M., and Taha, H. 2001. “Cool surfaces and shade trees to reduce energy use and improve air quality in urban areas.” Sol. Energy, 703, 295–310. ASTM. 2010. “Sustainability subcommittee launches development of proposed green roof guide.” http://www.astm.org/SNEWS/JULY_ 2007/roof_jul07.html Feb. 10, 2010. Bass, B., et al. 2003. “The impact of green roofs on Toronto’s urban heat island.” Proc., Greening Rooftops for Sustainable Communities, First North American Green Roof Conf., Greens Roofs for Healthy Cities, Toronto, 292–304. Blackhurst, M., Matthews, H., and Venkatesh, A. 2009. Quantifying mitigation potential of climate action plans for American cities, IEEE, Piscataway, N.J. Bliss, D. J., Neufeld, R. D., and Ries, R. J. 2009. “Storm water runoff mitigation using a green roof.” Environ. Eng. Sci., 262, 407–418. Capoor, K., and Ambrosi, P. 2008. State and trends of the carbon market 2008, The World Bank, Washington, D.C. Carnegie Mellon University CMU. 2009. “EIO-LCA Economic input-output life cycle assessment.” http://www.eiolca.net/ May 19, 2009. Carter, T., and Fowler, L. 2008. “Establishing green roof infrastructure through environmental policy instruments.” Environ. Manage., 421, 151–164. Carter, T., and Keeler, A. 2008. “Life-cycle cost-benefit analysis of extensive vegetated roof systems.” J. Environ. Manage., 873, 350– 363. Carter, T. L., and Rasmussen, T. C. 2006. “Hydrologic behavior of vegetated roofs.” J. Am. Water Resour. Assoc., 425, 1261–1274. Chandler, H. M. 2001. Heavy construction cost data, 2002, RS Means Company, Kingston, Mass. Coffelt, D. P., and Hendrickson, C. T. 2010. “Life cycle costs of commercial roof systems”, J. Archit. Eng., 161, 29–36. Corburn, J. 2009. “Cities, climate change, and urban heat island mitigation: Localising global environmental science.” Urban Stud., 462, 413–427. DeNardo, J., et al. 2003. “Green roofs: A stormwater BMP.” Proc., 2003 Pennsylvania Stormwater Symp., Villanova Univ., Villanova, Pa. Dunnett, N., and Kingsbury, N. 2004. Planting green roofs and living walls, Timber Press, Portland, Ore. Energy Information Administration EIA. 2005. “Commercial buildings energy consumption survey, 2003, Washington D.C.: U.S. department of energy.” http://www.eia.doe.gov/emeu/cbecs/ June 23, 2009. Energy Information Administration EIA. 2008. “Residential energy consumption survey, 2005, Washington D.C.: U.S. department of energy.” http://www.eia.doe.gov/emeu/cbecs/ July 1, 2009. Energy Information Administration EIA. 2009. “Electric power monthly–average retail price of electricity to ultimate customers total by end-use sector.” http://www.eia.doe.gov/cneaf/electricity/epm/ table5_3.html June 1, 2009. Fisher, D. C., Whitehead, C. D., and Melody, M. 2008. “National and regional water and wastewater rates for use in cost-benefit models and evaluations of water efficiency programs.” Lawrence Berkeley National Laboratory, http://repositories.cdlib.org/cgi/viewcontent. cgi?article6371&contextlbnl July 1, 2009. Green Roofs for Healthy Cities. 2006. Green roof design 101: Introductory course, 2nd Ed., Green Roofs for Healthy Cities, Toronto. Guggemos, A. A. 2006. “Case study of economic and environmental life-cycle assessment of roofing systems.” Proc., 1st Int. Construction Specialty Conf., Canadian American Society of Civil Engineers Calgary, Alta., Canada. Hendrickson, C. T., Lave, L. B., and Matthews, H. S., 2005. Environmental life cycle assessment of goods and services: An input-output approach, Resources for the Future Washington, D.C. Hoffman, L. 2006. “Green roof storm water modeling.” BioCycle, 472, 38–40. Kosareo, L., and Ries, R. 2007. “Comparative environmental life cycle assessment of green roofs.” Build. Environ., 427, 2606–2613. Liu, K. 2002. “Research quantifies benefits of rooftop gardens.” Constr. Innovation, 71, 7. Lundin, M., and Högskola, C. T. 1999. “Assessment of the environmental sustainability of urban water systems.” Technical environmental planning, Chalmers Univ. of Technology, Göteborg Sweden. Ngan, G. 2004. Green roof policies: Tools for encouraging sustainable design, Landscape Architecture Canada Foundation, Ottawa, http:// www.gnla.ca/assets/Policy%20report.pdf June 24, 2009. Onmura, S., Matsumoto, M., and Hokoi, S. 2001. “Study on evaporative cooling effect of roof lawn gardens.” Energy Build., 337, 653–666. Peck, S. 2001. “Tokyo begins to tackle urban heat with green roofs.” Green Roofs Infrastructure Monitor, 32, 4. Peck, S. W., et al. 2003. Design guidelines for green roofs, Ontario Association of Architects, CMHC, Ottawa. Roofscapes Inc. 2010. “FLL german green roof design guidelines.” http://www.roofmeadow.com/technical/fll.php Feb. 10, 2010. Rosenzweig, C., et al. 2006. Mitigating New York City’s heat island with urban forestry, living roofs, and light surfaces: New York City regional heat island initiative final report, New York State Energy Research and Development Authority, Albany, N.Y., 173. Sahely, H. R., et al. 2006. “Comparison of on-site and upstream greenhouse gas emissions from Canadian municipal wastewater treatment facilities.” J. Environ. Eng. Sci., 55, 405–415. Saiz, S., et al. 2006. “Comparative life cycle assessment of standard and green roofs.” Environ. Sci. Technol., 4013, 4312–4316. Sfakianaki, A., et al. 2009. “Theoretical and experimental analysis of the thermal behaviour of a green roof system installed in two residential buildings in Athens, Greece.” Int. J. Energy Res., 3312, 1059– 1069. Sharrard, A. L. 2007.Stovin, V. 2009. “The potential of green roofs to manage urban stormwater.” Water Environ. J., 243, 192–199. Taha, H., Konopacki, S., and Gabersek, S. 1999. “Impacts of large-scale surface modifications on meteorological conditions and energy use: A 10-region modeling study.” Theor. Appl. Climatol., 623–4, 175– 185. Tchobanoglous, G., Burton, F. L., and Stensel, H. D. 2003. Wastewater engineering: treatment and reuse, McGraw-Hill, New York. Theodosiou, T. 2009. “Green roofs in buildings: Thermal and environmental behaviour.” Advances in Building Energy Research, 3, 271– 288. Tilman, D., Hill, J., and Lehman, C., 2006. “Carbon-negative biofuels from low-input high-diversity grassland biomass.” Science, 3145805, 1598–1600. VanWoert, N. D., et al. 2005. “Green roof stormwater retention: Effects of roof surface, slope, and media depth.” J. Environ. Qual., 343, 1036–1044. Wong, N. H., et al. 2003a. “Investigation of thermal benefits of rooftop garden in the tropical environment.” Build. Environ., 382, 261–270. Wong, N. H., et al. 2003b. “The effects of rooftop garden on energy consumption of a commercial building in Singapore.” Energy Build., 354, 353–364.

The Netherlands is to launch carbon-based packaging tax, the first of its kind in Europe. The tax will be based on the estimated CO2 emissions produced in making particular packaging. The government announced that the introduction of the new tax will be in January in its 2008 ’Tax Plan: Focus on greening and labour participation’. This is based on an agreement between the country’s environment ministry, local authorities and industry. The money from the tax will form a new fund, called the ’waste fund’ (Afvalfonds), which is designed to help reduce waste in the country. The national government will also contribute E115m (£80m) annually to the fund, as well as a tax on household waste. This follows carbon footprint labelling in the UK, which already appears on products such as Walkers crisps and Boots’ products. The Dutch Ministry of Housing, Spatial Planning and the Environment said in a statement that much more plastic packaging will also be recycled. This will raise the recycling percentage target for plastic packaging from its present level of 20% to 42% in 2012. The result is an annual saving of approximately 210 kilotons of CO2, equivalent to the electricity use of around 100,000 households. A survey conducted earlier this year by the Dutch Institute for Public Opinion and Market Research (TNS/NIPO), by order of the Dutch government, revealed that 91% of citizens were prepared to participate in the separated collection of plastic packaging, in addition to paper and glass.

This post is one in a series of feature stories on trends that shape advanced energy markets in the U.S. and around the world. It is drawn from Advanced Energy Now 2017 Market Report, which was prepared for AEE by Navigant Research. A CHP system at the University of Arizona. For roughly a century, CHP systems have been reliable, cost-effective sources of power and thermal energy in both industrial and commercial building applications. Representing as much as 8% of U.S. electricity generation, CHP systems are used widely in manufacturing, hospitals, district heating, commercial buildings, and even residential applications. Producing power and heat (separately) typically results in a combined efficiency of 45%. By contrast, CHP systems (also known as cogeneration) generate electricity and thermal energy in a single system, resulting in a combined efficiency as high as 80%. Gas turbines make up the largest share of CHP systems, often exporting power to the electrical grid, but it is not the only way for CHP to work. Following five years of growth, from $20.8 billion in 2011 to $30 billion in 2015, global industrial CHP revenue slipped 3% in 2016, but still represented a $29.1 billion market (Figure 1). With more than 80 GW installed to date in the U.S alone – equal to the cumulative base of wind and nearly double that of solar PV – U.S. industrial CHP revenue continued its upward trajectory, increasing 5% to $3.5 billion in 2016, up steadily from $1 billion in 2011 (Figure 2). In the U.S. many projects were hurriedly completed before the CHP investment tax credit (ITC) expired on December 31, 2016. This credit, worth up to 10% of the system cost, has been an important driver of installations so ongoing efforts in Congress to reestablish the credit for 2017 are an important pivot point for the industry. The lower natural gas prices afforded by the shale gas boom are an important driver of CHP installations, though the relationship is complex. Natural gas prices in North America approached historic lows in 2012-2016, which improved the spark spread, or the difference in cost per MWh of natural gas and electricity. This typically is good for natural gas, though caveats exist. First, grid electricity has gotten cheaper as more centralized natural gas generation comes online in response to low gas prices, eroding some of the business case for CHP. Paradoxically, the high efficiency of CHP can also be a hindrance with cheap natural gas: if CHP utilizes twice the energy per unit natural gas, the value of that efficiency is directly proportional to gas prices. Finally, volatility in natural gas prices can introduce financial risks that some facility owners don’t want to undertake. Still, many industrial customers see the value in CHP over the longer term and are willing to invest. For example, while US industrial customers saw electricity prices steadily rise by 49% from 2000 to 2015, natural gas prices were down by 12% (albeit with more volatility). Customers that can realize multiple value streams from CHP are thus willing to invest. A growing business model in CHP is that of utility-owned deployments. While the legal issues vary by jurisdiction, many utilities see CHP as a way to cooperatively use customer facilities to meet their responsibilities related to capacity, energy efficiency, or flexible power generation. For example, in an effort to stabilize rising electricity prices, Florida Public Utilities Co. (FPU) worked with its industrial customer Rayonier to install a 20MW CHP turbine system in 2016. The system, called Eight Flags, is projected to produce electricity at $84.30/MWh, or 12% below the average local cost of wholesale energy. In addition, the combustion turbine will be equipped with inlet air cooling to increase electric output during summer months – adding flexibility that will become ever more important for utilities and grid operators with the growth of intermittent renewables like solar PV. Other utilities are incentivizing CHP toward meeting their energy efficiency goals, which is not always the cheapest option, but can be attractive as low-hanging fruit like lighting and HVAC upgrades become saturated. One such utility is Baltimore Gas and Electric, which anticipates that 19.5% of its total Commercial and Industrial (C&I) electricity savings will come from CHP projects. Industrial facilities account for more than 80% of existing CHP capacity in the United States – with more than 1,200 installations. Industrial sites are a strong match for CHP systems (of 20 MW in nameplate capacity) due to the presence of both high thermal and electric loads. There is also some potential in CHP using biomass, particularly in rural areas, where natural gas is too costly or not available, and in paper mills, where waste stock provides a source of fuel. While large turbines over 20 MW dominate CHP in the U.S. (accounting for 90% capacity), there are three technologies that each are well suited as prime movers in CHP applications on a smaller scale: - Natural Gas generator sets are the most mature of the three and are seeing renewed interest, thanks to in part to growing interest in energy resiliency in smaller sites including commercial sites. Compared to turbines, reciprocating engines ramp to full power faster and are readily available in much smaller sizes, including below 100 kW. For these reasons generator sets represent more than half of all installed CHP capacity under 5 MW, for a total of 1.5 GW. - Microturbines are emerging as a low maintenance solution for a range of applications, including oil & gas (O&G) fields, where fuel would be otherwise wasted. Gas that has traditionally been flared, often of poor quality, is being piped into flexible microturbines and generates heat and power for production processes. Microturbines represent just 0.1% of installed CHP capacity, though that share is growing thanks to growing demand for low-maintenance flexible generation. - Stationary fuel cells are being adopted at four times the rate of transportation fuel cells (by annual capacity additions) and will continue to lead fuel cell deployment. Fuel cells account for just 0.1% of installed CHP capacity, though that share is growing thanks to cost declines and growing demand for ultra-low-emission onsite generation. Gas turbines will continue to make up the majority of large CHP applications, but there is a growing opportunity for stationary fuel cell applications in larger systems. One application is prime power, where the fuel cell is used for electricity or power and heat, ranging from 5 kW to several MW (though usually at a scale of 200 kW and higher). Large CHP fuel cell applications are found mostly in South Korea and the United States. CHP fuel cell units are used in the utility and C&I sectors. Hospitals and universities, with their campus configuration and high thermal demands, install CHP in growing quantities with fuel cells accounting for a growing share. Multi-family residential structures also represent a large opportunity in this segment. For example, Doosan Fuel Cell America is working with the local utility to install a large CHP fuel cell at a multifamily residential development in Busan, South Korea. Sized at more than 30MW, it is projected to be one of the largest fuel cell installations in the world. Using waste heat can result in efficiencies above 85%, potentially opening new markets. GE’s new fuel cell combined-cycle will combine its Solid Oxide Fuel Cell (SOFC) with its Jenbacher generator set at a megawatt scale, representing a compelling value proposition as costs come down. Navigant Research forecasts fuel cell capacity for CHP will grow fastest in Asia Pacific, with Japan (and to a lesser extent, China and India) joining South Korea as the next most attractive markets. As a relatively mature market, the United States is expected to continue growing at close to historical trends. Learn more about CHP and all the rest of the advanced energy market by downloading the free report at the link below:

A baseball player is offered a 5-year contract which pays him the following amounts: Year 1: $1.2 million Year 2: $1.6 million Year 3: $2.0 million Year 4: $2.4 million Year 5: $2.8 million Under the terms of the agreement all payments are made at the end of each year. Instead of accepting the contract, the baseball player asks his agent to negotiate a contract which has a present value of $1 million more than that which has been offered. Moreover, the player wants to receive his payments in the form of a 5-year annuity due. All cash flows are discounted at 10 percent. If the team were to agree to the player's terms, what would be the player's annual salary (in millions of dollars)?© BrainMass Inc. brainmass.com June 3, 2020, 8:01 pm ad1c9bdddf The present value of offered contract Computations done by hand, step by step are examined.

Excess Stock is a term used in inventory management, and is often called a number of different things; overstock, stock surplus, excessive stock, or excess inventory. Source - easystock.com Obsolete inventory is a term that refers to inventory that is at the end of its product life cycle. This inventory has not been sold or used for a long period of time and is not expected to be sold in the future. This type of inventory has to be written down and can cause large losses for a company. Source - investopedia.com

Anybody who has a background in investments and is familiar with how to save money knows the oft-repeated mantra of saving: The first $100,000 is always the hardest to save. You might wonder why that’s a commonly accepted truth; shouldn’t going from $400,000 to $500,000 be just as hard as starting with nothing and going to $100,000? The answer is no, and the reason is simple: The more money you have, the more interest you’ll make. Even if you have two accounts with the same annual percentage yield, a larger account will always bring in more interest than a smaller account. It won’t completely mitigate the difference between the two accounts, but if you want to make more interest on a smaller amount of money, one way is to invest your money in an account with a compound interest rate. A compound interest rate will reinvest your returns — that is, all interest earned goes right back into your account and further interest is accrued from that larger amount. By saving with compound interest, you can make much more money than you would on a simple interest rate. Here’s the formula for calculating compound interest earnings: A = P(1 + r/n)nt Amount accumulated = principal amount x (1 + (interest rate ÷ compoundings per period))ˆ(compoundings per period x number of periods) For example, if you have $1,000 saved in an account with an annual interest rate of 3 percent, compounded quarterly, you can calculate the balance after 10 years as: Amount accumulated = 1000 (1 + (0.03 ÷ 4))(4 x 10) = $1,348.35 You can see that the more money you have, the more money you make. That’s why it’s important to begin saving early and contributing as much as possible. To help you build your savings so that you can take advantage of compounding interest, here are seven strategies for saving up your first $100,000. 1. Start Saving Young It’s never too early to start saving. Ideally, your first deposits should be going in as soon as you leave college and start a career. Using compound interest, saving money each year — even if it’s only a few thousand dollars — can produce larger savings year after year, progressively increasing the amount saved. Getting your first deposits in early will put you that much further along in the deposit cycle. “One of the biggest problems is being unemployed or underemployed,” said Roger Wohlner, a financial advisor and writer who publishes The Chicago Financial Planner. “In both cases, it is important to be diligent in trying to find a job or finding one that provides a salary that allows them to cover the basic expenses and begin a savings program.” 2. Automate Your Savings Staying on track for the long-term goal of saving that first $100,000 is easier when you build in small practices toward that goal. One of the easiest ways to save money is to automate the process so you don’t think about it — and don’t leave yourself a choice of whether to put that money away or spend it. You can start by automating a deduction from every paycheck to be deposited to a savings account via direct deposit or a transfer from your regular checking account. Even if you feel you can’t afford to save much, your consistent contributions, however small, will add up over time. Plus, after continuously and automatically putting away savings for a few months, you probably won’t notice the money missing from your disposable income. “Have money automatically invested from each paycheck to build an emergency fund, dollar-cost average into one or more mutual funds, or to defer money into your employer’s 401k,” Wohlner said. “You won’t miss the money, and you won’t spend the money on something else.” 3. Max Out Your IRA Retirement should be high on your list of priorities no matter how young you are; saving and putting money into your individual retirement account are key financial practices to begin while you’re young. You should take advantage of tax benefits by putting in as much money as you can into your IRA each year. Most workers can put up to $18,000 in an IRA every year. Maximizing your IRA contribution is critical — retirement funds dry up quickly, so putting in as much as you can is highly beneficial. There are several different types of IRAs, each with its own advantages, and choosing the right type of IRA just as important as putting money in it. 4. Choose the Right IRA for You There are two main types of IRAs you can choose as an individual taxpayer: a traditional IRA or a Roth IRA. Each type offers upsides, and deciding which one is better for you might hinge on your level of income security. With a traditional IRA, you’ll be able to save your money before taxes are deducted, so you’ll get a tax break. But if you withdraw money early from a traditional IRA, your early withdrawal will be subject to a penalty. If you might need to withdraw money at some point before retirement age, a Roth IRA could be the better choice for you: Qualified distributions from a Roth IRA are tax-free. 5. Prioritize Debt It’s not uncommon to face some sort of debt early on in your career. That debt can seem overwhelming when you face it all at once. That’s why you should have some debts prioritized over others — and the necessities for living, such as food and housing, need to come before anything else. It will be very hard to keep a job and pull yourself out of debt if you can’t feed yourself or don’t have a place to live. After those priorities, you can take care of less important debts, such as utilities, credit card debt and student loans. “In a perfect world, those trying to save their first $100,000 would balance this goal with reducing their debt,” Wohlner said. “In the case of college loans, there is a mandated time frame to begin these payments, and they need to become part of your budget. A good approach, if possible, is to make your savings automatic. A great way to do this is via the payroll deduction for your company’s 401k.” 6. Be as Frugal as Possible If you want to save money, a critical action to take is to stop spending more money than you need to. You need to cut down on your day-to-day expenses, create a budget and accept sacrifice as a part of saving. Stop eating out every night. Buy a used car instead of a new one. Don’t upgrade your phone every year if it’s still in working condition. Being frugal might be a necessity depending on your income. A $5 expense might seem harmless, but when you’re spending it every day, that’s over $1,500 a year that could be going toward retirement. If you want to save money, you’ll likely have to live below your means. 7. Generate Additional Income Another thing you can do to save money is to generate income outside your primary workplace. Take advantage of your hobbies and talents to earn some money in addition to income from your day job. If you’re exceptionally good at a craft, for example, you can set aside an hour a day to make those crafts and sell them online. Or if you’re a great writer, look into freelance work opportunities. If you’re interested in investing, try getting involved in the stock market. Whatever you’re good at, you should take advantage of it. A hobby-turned-side-job can be an easy and enjoyable way to get closer to that $100,000 mark sooner. The Bottom Line The first $100,000 might be the hardest to save, but there are ways to do it. If you live below your means while keeping long-term goals in sight and being smart with your money, you can save $100,000 in a matter of years. The most important thing to do is start putting these seven strategies into action so you can save more earlier on and take advantage of compounding interest to grow your savings.

At some point over the past decade, computers became really cheap to own. Make no mistake, it is still very easy to spend a couple thousand dollars on an iMac or another high-end model that can handle high quality image processing and other heavy duty computing work. However, it’s easier than ever before to obtain a working computer for $200 or even less and a big part of the reason why this happens just had a major anniversary. On April 19th, 1965, an issue of Electronics was published including an article penned by then-director of research and development at Fairchild Semiconductor, Gordon E. Moore. The article, entitled Cramming more components onto integrated circuits, posited that the most cost-effective integrated circuits would increase from 50 components per circuit to 65,000 components per circuit by 1975. The idea that the density of components on a single integrated circuit would double every one to two years is the basis of Moore’s Law, which although not a physical or natural law is an observation on the tech industry which has been practical over time. Today, there are computer chips which hold 8 billion transistors according to NPR. Scientists at Intel, the tech company founded by Gordon Moore, believe that the pace of Moore’s Law is sustainable for another 10 years. It’s amazing to think where that will put us considering the 10 years we’ve just experienced during which the smartphone revolution put a working computer into just about everyone’s pocket. We took some time last November to profile brief histories of both the Android mobile operating system marketed by Google and the iPhone/iPad mobile devices developed by Apple. Hundreds of millions of either of those units have been sold and each generation has more computing power for about the same price as the previous generation. As one educational text on Moore’s Law points out, the original iPod cost $399 and held 1,000 songs but five years later, Apple was selling an iPod that was $50 cheaper and held forty times the number of songs. Computing gets faster and cheaper with time to the delight of consumers everywhere. Back up a little further, compare personal computers from today against their desktop counterparts from the 1980s and the results are truly shocking. The MITS Altair 8800 released in 1975 cost about as much as the 2009 Dell Precision T7400; the Altair’s $495 retail price would increase to $1,987.08 when adjusted for inflation, about $12 less than the Dell Precision’s $1,999 price tag. That’s pretty baffling to consider when you realize that the two computer systems are almost incomparable in terms of random access memory, or RAM (0.256 kilobytes [KB] vs. 4 gigabytes [GB]), processing power (2 megahertz [MHz] vs. 9,320 MHz) and hard drive space (0 megabytes [MB] vs. 80GB). Just a head-on comparison of two Apple products separated by time provides a perfect example of Moore’s Law in action. In 1984, Apple released the Macintosh personal computer at a retail price of $2,495. The Apple iMac released in 2009, just 15 years later, cost a total of $3,849. Technically that’s a price increase, but when we again adjust for inflation, it turns out that the Apple Macintosh would have cost a whopping $5,186.17 per unit in 2009. That makes the iMac 26 percent cheaper than the Macintosh, according to Encyclopedia Britannica. Processing power cost much more for the Macintosh ($662.35 per MHz vs. $0.34 per MHz); RAM did as well ($40.52 per KB vs. $0.00025). The cost savings for consumer computing technologies that we’ve seen over the years are almost mind-blowing. We can get another perspective of the progress of Moore’s Law if we take the low-end computing products being marketed today into account. It will be important to remember that even these low priced options will have a computing power which is exponentially greater than the earliest personal computers from the 1980s. For example, the Acer Chromebook 15 CB3-531 comes with a dual-core Intel Celeron N2830 processor which can operate at processing speeds up to 2.41 GHz, more than 300 times greater than the 7.83 MHz processing power of the 1984 Apple Macintosh. In terms of RAM, Acer’s new Chromebook provides 2GB of memory while the Macintosh only supported 128KB, which means that Acer’s product runs about 15,625 times faster than the Macintosh. Comparisons of just about every other computing specification between the two machines are just as difficult to effectively visualize. When adjusting for inflation going back to 1984, the year that Apple’s Macintosh was released, today’s $199 Acer Chromebook would cost $88.09, a total which is only about 3.52 percent of the Macintosh’s 1984 retail price. The Acer Chromebook is a personal computing product which comes with a keyboard and touchpad for inputs and a screen to output a display to a user. This product may be the cheapest one on the market which comes standard with those peripherals but adventurous computing enthusiasts can find PC options which are even cheaper. The development of the HDMI data transmission standard enables the Intel Compute Stick, a $149 processor fitting in the palm of a person’s hand, to turn any HDMI-enabled display screen into a computer running Windows 8.1. Google plans on unveiling a similar stick computer, the Chromebit, with a $100 price tag. Perhaps the cheapest personal computing product available today is Raspberry Pi, a computer shaped like a credit card, albeit thicker, and designed to cost £25, or $38.56 USD. It comes with ports with connections to peripheral equipment like a monitor display, mouse and keyboard and has been developed with an eye towards teaching children about computer programming. It is not incredibly powerful but it can handle an array of basic tasks, from document creation to playing video games. A consumer price index chart published by emerging technology publication Gigaom clearly shows that the price index of personal computing has dropped by greater than 40 percent since 2007; during that time, the average consumer price index rose by about 10 percent. Computer software and wireless telephone technologies have also seen price index reductions. although theirs are much less substantial. Interestingly, the only area of tech related to the digital age where the price index hasn’t fallen in those years is Internet bandwidth provided by Internet service providers. An official from the Technology Policy Institute interviewed for the Gigaom story spoke to the idea that high, fixed prices for broadband could be a result of reduced competition among ISPs. As we’ve noted elsewhere here on IPWatchdog, the net neutrality rules which sent millions of public comments to the Federal Communications Commission effectively slow innovation in the sector and quash any hope that we might enjoy cheaper Internet access any day soon. Broadband might want to be as cheap as computing, if we’ll let it, and that would allow better access to even more people.

It is extremely essential to respect one’s money and to think about savings and investment as soon as one starts to earn. This is one of the biggest problems seen in today’s youth because they have a tendency to not spend a lot of money in a very short span of time, mostly on depreciating assets and then when the time comes to spend on something worthwhile they often find they do not have the resources to do so. Considering that we live in an age which promotes immediate gratification, this is more of a problem and youngsters do not have the farsightedness to understand they might face difficult times ahead. This poses greater problems than not being able to pay for a particular lifestyle- with no savings they might not be able to pay for a medical emergency if it unfortunately happens and they are often also not eligible for loans in the event they do want to settle down and try to accomplish something worthwhile, like a car or a home. Hence, to avoid such financial anomalies in the future, certain steps can be taken. Tips to keep in mind One of the best ways of doing that is to create a budget. One needs to make a budget about the expenses that are mandatorily incurred each month, like the basic expenses for food, clothing and shelter, rent, transportation, and basic medical expenses. Next comes the tricky part- instead of spending for entertainment and leading a lavish lifestyle, and then trying to save whatever is left from it, one should try the opposite. One should make it a point to save a particular amount each month after the compulsory expenses are meant, and then spend from whatever is left for entertainment. There could be certain deviations a couple of times a year of course, but this should be the basic plan. Making it a habit of saving a certain amount each month will help you gather a substantial capital in as less as five years which could then be utilized for any emergency that might crop up or invested further for greater returns in future. It is important to set some financial goals if one is aiming to accumulate a certain sum by a certain age and this can be done with the help of investing in fixed deposits and SIPs. Most FDs cannot be broken before a certain time and this keeps the money safe even though one might feel tempted to spend it. One should also build an emergency fund so that just in case one finds themselves in between jobs, there should be enough in the fund that would take care of at least three months worth of household expenses. What else should you know? It is a responsibility of every earning member to get insurance for himself and his family. However, there are quite a number of insurance providers in the market and all of them charge their own premium rates. Be it car insurance, health or home, thankfully it has become possible to compare the various premium rates. Home Loan Insurance and Income Protection Insurance can serve the dual purpose of covering your family and at the same time, help you save money. For Small Business Financial Planning, you can also contact professionals who can help you set up business at the budget you have. The groceries in the household are another area where a lot of money can be saved. Instead of buying your products from high-end shopping malls which charge extra in terms of the retail price, shop from local stores where the same products are available at discounted rates. Keep your eyes open deals and offers that can help you get more products for less price. Coupons and vouchers when used wisely, can also help in saving a lot of money. Likewise, although this might seem like a very clichéd method, it is a fact that we can save a lot of money by conserving energy. It is not just enough to turn off the lights when not in use, try and use LED bulbs instead of conventional lights on a regular basis. Use your brighter lights when there are guests coming over and on a special occasion. While installing new gadgets, make it a point to check that they are energy savers. In case you do not have a very low income each month, while taking a loan, talk to your creditor so that you can pay over the EMIs as soon as possible because certain creditors charge extra interest if the EMI is paid over a very long period of time. By paying the EMI faster you will also be able to get rid of the loan faster. Credit Card misuse is probably the most common form of financial error. Call it consumerism or the promise of high living that is slowly absorbed by us, we often end up buying commodities that are of little use to us. And because credit cards allow us to buy items even before we have cash with us, we do not even spare much thought. Somehow, the feel of actually, physically, counting dollar bills and paying gives us a sense of spending more because we can see the money parting from us. With credit cards, the virtual money does not make the impact and by the time it does, you have ended up spending thousands more. The idea is to save first, and then start spending, rather than trying to save after much of the money has been spent. With some regulation, it is possible to create a bulk saving amount which will help you realize your financial dreams in the future.

If you have a lot of moolah, you're rich — you have plenty of cash. Moolah is a slang term that means "money." When you don't have enough moolah to buy a car, you may have to work and save for a while before you've got the moolah to buy it. This informal word is similar to bread or dough, or clams, just a few of the many slang words meaning "money." Experts know this word was coined in the United States around 1920, but beyond that its origin is a mystery.

What is the Elliott Wave Principle? Definition of Elliott Wave Principle: This principle is a kind of industrial analysis that is used by most of the investors for forecasting the developments in the fiscal markets. This is done by using pattern acknowledgment. This principle indicates that cooperative investor psychology moves the markets in an ordinary order ranging from hopefulness to distrust and vice versa. These variations make patterns, as displayed by the cost behavior trends in the market. Every change plays an important role and may take place durations ranging from few minutes to decades. A professional accountant, named as Ralph Nelson Elliott, created the concept in 1930. He suggested that the market costs unfold in waves, which is today popularly known as Elliott waves. The analysts of Elliott wave says that every wave has their own characteristics and signature which reflects the psychology of the existing investor. It is very important to understand the personalities before applying the Wave principle. The followers of this theory studies the cost charts and develops trends to differentiate waves and the structure of waves and forecast movements of price in the market. Most of the critics say that the procedure is too subjective and the market has several patterns in the existing price, therefore suggesting that the cost of the theory has enough space.

- Dow theory Dow Theory on stock price movement is a form of technical analysis that includes some aspects of sector rotation. The theory was derived from 255 Wall Street Journal editorials written by Charles H. Dow (1851–1902), journalist, founder and first editor of the Wall Street Journal and co-founder of Dow Jones and Company. Following Dow's death, William Peter Hamilton, Robert Rhea and E. George Schaefer organized and collectively represented "Dow Theory," based on Dow's editorials. Dow himself never used the term "Dow Theory," nor presented it as a trading system. The six basic tenets of Dow Theory as summarized by Hamilton, Rhea, and Schaefer are described below. Six basic tenets of Dow Theory - The market has three movements - (1) The "main movement", primary movement or major trend may last from less than a year to several years. It can be bullish or bearish. (2) The "medium swing", secondary reaction or intermediate reaction may last from ten days to three months and generally retraces from 33% to 66% of the primary price change since the previous medium swing or start of the main movement. (3) The "short swing" or minor movement varies with opinion from hours to a month or more. The three movements may be simultaneous, for instance, a daily minor movement in a bearish secondary reaction in a bullish primary movement. - Market trends have three phases - Dow Theory asserts that major market trends are composed of three phases: an accumulation phase, a public participation phase, and a distribution phase. The accumulation phase (phase 1) is a period when investors "in the know" are actively buying (selling) stock against the general opinion of the market. During this phase, the stock price does not change much because these investors are in the minority demanding (absorbing) stock that the market at large is supplying (releasing). Eventually, the market catches on to these astute investors and a rapid price change occurs (phase 2). This occurs when trend followers and other technically oriented investors participate. This phase continues until rampant speculation occurs. At this point, the astute investors begin to distribute their holdings to the market (phase 3). - The stock market discounts all news - Stock prices quickly incorporate new information as soon as it becomes available. Once news is released, stock prices will change to reflect this new information. On this point, Dow Theory agrees with one of the premises of the efficient market hypothesis. - Stock market averages must confirm each other - In Dow's time, the US was a growing industrial power. The US had population centers but factories were scattered throughout the country. Factories had to ship their goods to market, usually by rail. Dow's first stock averages were an index of industrial (manufacturing) companies and rail companies. To Dow, a bull market in industrials could not occur unless the railway average rallied as well, usually first. According to this logic, if manufacturers' profits are rising, it follows that they are producing more. If they produce more, then they have to ship more goods to consumers. Hence, if an investor is looking for signs of health in manufacturers, he or she should look at the performance of the companies that ship the output of them to market, the railroads. The two averages should be moving in the same direction. When the performance of the averages diverge, it is a warning that change is in the air. - Both Barron's Magazine and the Wall Street Journal still publish the daily performance of the Dow Jones Transportation Index in chart form. The index contains major railroads, shipping companies, and air freight carriers in the US. - Trends are confirmed by volume - Dow believed that volume confirmed price trends. When prices move on low volume, there could be many different explanations why. An overly aggressive seller could be present for example. But when price movements are accompanied by high volume, Dow believed this represented the "true" market view. If many participants are active in a particular security, and the price moves significantly in one direction, Dow maintained that this was the direction in which the market anticipated continued movement. To him, it was a signal that a trend is developing. - Trends exist until definitive signals prove that they have ended - Dow believed that trends existed despite "market noise". Markets might temporarily move in the direction opposite to the trend, but they will soon resume the prior move. The trend should be given the benefit of the doubt during these reversals. Determining whether a reversal is the start of a new trend or a temporary movement in the current trend is not easy. Dow Theorists often disagree in this determination. Technical analysis tools attempt to clarify this but they can be interpreted differently by different investors. There is little academic support for the profitability of the Dow Theory. Alfred Cowles in a study in Econometrica in 1934 showed that trading based upon the editorial advice would have resulted in earning less than a buy-and-hold strategy using a well diversified portfolio. Cowles concluded that a buy-and-hold strategy produced 15.5% annualized returns from 1902-1929 while the Dow Theory strategy produced annualized returns of 12%. After numerous studies supported Cowles over the following years, many academics stopped studying Dow Theory believing Cowles's results were conclusive. In recent years however, Cowles' conclusions have been revisited. William Goetzmann, Stephen Brown, and Alok Kumar believe that Cowles' study was incomplete and that Dow Theory produces excess risk-adjusted returns. Specifically, the return of a buy-and-hold strategy was higher than that of a Dow Theory portfolio by 2%, but the riskiness and volatility of the Dow Theory portfolio was lower, so that the Dow Theory portfolio produced higher risk-adjusted returns according to their study. Nevertheless, adjusting returns for risk is controversial in the context of the Dow Theory. One key problem with any analysis of Dow Theory is that the editorials of Charles Dow did not contain explicitly defined investing "rules" so some assumptions and interpretations are necessary. - Scott Peterson: The Wall Street Journal,Technically, A Challenge for Blue Chips, Vol. 250, No. 122, November 23, 2007. - Goetzmann's Dow Page Includes a link to Dow's editorials and links to numerous articles describing support of Dow Theory. - Alfred Cowle's Yale Page with selected publications - Richard Russell's Dow Theory letters weekly newsletter and charts. - John Hussman discusses Dow Theory - Record of Dow Theory Signals - Dow Theory blog and definition Classic Books by Dow Theorists - Dow Theory for the 21st Century, by Jack Schannep - Dow Theory Today, by Richard Russell - The Dow Theory, by Robert Rhea - The Stock Market Barometer, by William Hamilton - The ABC of Stock Speculation, by S.A. Nelson Concepts Charts PatternsCandlestickSimpleComplex IndicatorsVolumeOther Stock market Types of stocks Participants Exchanges Stock valuation Financial ratios Trading theories and strategiesAlgorithmic trading · Buy and hold · Contrarian investing · Day trading · Efficient-market hypothesis · Fundamental analysis · Market timing · Modern portfolio theory · Momentum investing · Mosaic theory · Pairs trade · Post-modern portfolio theory · Random walk hypothesis · Style investing · Swing trading · Technical analysis · Trend following Related termsBlock trade · Cross listing · Dark liquidity · Dividend · Dual-listed company · DuPont Model · Flight-to-quality · Haircut · IPO · Margin · Market anomaly · Market capitalization · Market depth · Market manipulation · Market trend · Mean reversion · Momentum · Open outcry · Public float · Rally · Reverse stock split · Share capital · Short selling · Slippage · Speculation · Stock dilution · Stock split · Trade · Uptick rule · Volatility · Voting interest · Stock market index - The market has three movements Wikimedia Foundation. 2010. Look at other dictionaries: Dow Theory — is a heterodox theory on stock price movements that is used as the basis for technical analysis. The theory was derived from 255 Wall Street Journal editorials written by Charles H. Dow (1851 ndash;1902), journalist, founder and first editor of… … Wikipedia Dow Theory — Used in the context of general equities. Technical theory that a major trend in the stock market must be confirmed by simultaneous movement of the Dow Jones Industrial Average and the Dow Jones Transportation Average to new highs or lows.… … Financial and business terms dow theory — ˈdau̇ noun also dow s theory ˈdau̇z Usage: usually capitalized D Etymology: after Charles H. Dow died 1902 more at dow jones average : a system of stock market forecasting based on the observed swings of the market itself * * * Dow theory, U.S … Useful english dictionary Dow Theory — A theory which says the market is in an upward trend if one of its averages (industrial or transportation) advances above a previous important high, it is accompanied or followed by a similar advance in the other. The theory also says that when… … Investment dictionary Dow Jones Transportation Average — Stammdaten Staat Vereinigte Staaten Börse New York Stock Exchange ISIN XC0009694214 … Deutsch Wikipedia Dow Jones Transportation Average — The Dow Jones Transportation Average (DJTA, also called the Dow Jones Transports ) is a U.S. stock market index from Dow Jones Indexes of the transportation sector, and is the most widely recognized gauge of the American transportation sector. It … Wikipedia Dow, Charles Henry — ▪ American journalist born Nov. 6, 1851, Sterling, Conn., U.S. died Dec. 4, 1902, Brooklyn, N.Y. American journalist who cofounded Dow Jones & Company, a financial news service, and The Wall Street Journal. His original contributions include the … Universalium dow's theory — noun see dow theory … Useful english dictionary Dow 36,000 — Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market is a book by James K. Glassman and Kevin A. Hassett. It was published in 1999, shortly before the dot com bubble burst, and predicted that the Dow Jones… … Wikipedia Dow Jones Industrial Average — Recent logarithmic graph of the DJIA from Jan 2000 through Jul 2011 … Wikipedia

Unfortunately, it seems as though natural disasters have become a regular occurence all over the world during this past year. Many people have lost their homes to floods, tornadoes, fires and earthquakes. California is known as one of the most earthquake-prone states, yet statistics show that less than 15 percent of homeowners here have purchased California earthquake insurance. Are Californians in denial about their risk? Even the most optimistic homeowners must know that the San Andreas fault line isn’t going anywhere, and it will always pose a threat to people who have spent their life savings on their home but have not obtained earthquake coverage to protect their investment. The number of earthquakes that occur each year in the U.S. may surprise you. According to the Insurance Information Institute, there are about 5,000 earthquakes of varying magnitude in the country annually. While premiums for California eathquake insurance may cost more than those for coverage on the East Coast, individuals who live in the Pacific Northwest do have the option of raising their deductible, which can lower their monthly premium. However, this means that they will have to pay for a higher percentage of the cost to repair their home if it is destroyed by an earthquake. Individuals who are looking to buy a home in California may want to consider the fact that the structure of the house they choose can affect their earthquake insurance costs. For example, newer homes with wood frames will be less expensive to insure than older ones that are made of brick since they are more likely to withstand and earthquake. Considering the high risk that California residents have for experiencing an earthquake, purchasing insurance for this type of disaster seems like common sense. People who worry that they cannot afford earthquake insurance will likely find that the cost of coverage pales in comparison to that of replacing their home and possessions when an event does occur.

What is the Balance Sheet? The financial statement prepared for the end day of the accounting period to show the financial position of a business concern is called a balance sheet. In other words, The balance sheet is a statement of assets and liabilities including the owner’s equity at a particular date of a business concern. Its main task is to exhibit the financial position of a business concern at a particular date. The statement of “assets” and “liabilities” exhibits the financial position of a business. The balance sheet is prepared with those ledger balances that are left after transferring revenue ledger balances into the income statement. The balance sheet is not an account. It is a financial statement that is prepared with ledger balances. Ledger balances are not transferred to the balance sheet. These ledger balances remain as closing balances which are transferred to the next accounting period as opening ledger balances. The balance sheet includes assets and liabilities & owner’s equity. The total assets are equal to the total liabilities and owner’s equity. So Assets = Liabilities + Owner’s Equity. In brief A= L + OE. The objective of the Balance Sheet The balance sheet is prepared with the following objects: - Knowing the financial position of a business. - Knowing the real value of assets. - Knowing the amount and nature of liabilities. - Verification of debt paying capability of a business. - Knowing the trend of changes in assets and liabilities. - Knowing the trend of profit or loss of business. - Knowing the deduction of depreciation from assets. - Knowing the amount of prepaid and unpaid expenses. 2 Types of Balance Sheet are; - Unclassified balance sheet. - Classified Balance Sheet. Presentation form of the balance sheet is of two types: 1. Unclassified Balance Sheet In an unclassified balance sheet, all assets are shown without making any classification. Similarly, liabilities are also shown without making any classification. But in writing, assets liquidity and durability of assets are taken into consideration as far as possible. Similarly, liabilities are written considering their short term and long term nature. That is, if assets are written giving emphasis on liquidity, the long-term liabilities follow short-term liabilities. 2. Classified Balance Sheet In statement form balance sheet assets are shown first. Assets are shown classifying them into: - Current assets, - Property, plant, and equipment, - Intangible assets. In the later part, liabilities are shown classifying them into current liabilities, long-term liabilities, and owner’s equity. If assets, liabilities and owner’s equity are written accurately it is evident that the total of assets must be equal to the total of liabilities and owner’s equity. Thereby the equation A= L + OE is proved. The balance sheet in which assets are shown classifying them into current and fixed-and liabilities as short term and long term and owner’s equity separately is called a classified balance sheet. In below we discuss the components of the classified balance sheet. Cash or other assets that are convertible into money and exhausted within a short period, one year or less from the date of the balance sheet are called current assets. A service-oriented business concern generally has four types of current assets: - Investment (short term), - Accounts receivable and notes receivable, - Prepaid expenses and accrued income but not received. The current assets are explained below; Cash means cash in hand and cash at the bank which is used for current operating purposes; such as deposits into saving account and current account. Cash as a current asset is shown as a first item in the balance sheet. Cash equivalents are those assets that are readily convertible into money. Such as treasury bills, short-term notes maturing within 90 days, deposit certificates, etc. Generally, marketable securities’ are called short-term investments. For example, shares and bonds of other companies purchased for a short-term period. Accounts receivable and notes receivable Accounts receivable means money is receivable from persons or organizations. Accounts receivable are created when services are rendered or goods are sold on account. For these debts, no documentary evidence is kept excepting signature on invoice or ticket. Accounts receivable are created when services are rendered or goods are sold on account. This account receivable is called the debtor. Debtor prepares a promissory note and signs on it and hands it over to the creditor as documentary evidence of his debts. A promissory note is a promise to pay a certain sum of money within the stipulated time. This note is generally prepared for a short period. After the expiry of the stipulated time money is received. Prepaid expense and accrued income The prepaid expense and accrued income not received within the particular accounting period are termed as current assets. Generally house rent, insurance premium, office supply, etc. are paid in advance. Interest on investment accrued but not received on the date of maturity is shown as current assets at the end of the accounting period. In a trading concern, merchandise inventory is also treated as current assets. It means merchandise remains unsold at the end day of an accounting period. Fixed or long-term assets The assets which are used in business for a long-term period are called fixed or long-term assets. Property, plant, equipment, long-term investment, and intangible assets. A business organization enjoys the utility of fixed assets for more than a year. Property, plant, and equipment Land, building, plant, and equipment last for more than a year in business. A business concern purchases these assets for use in the business, not for sale. Property, plant, and equipment are synonymous with plant assets or fixed assets. In the balance sheet, under fixed assets property is shown first, then plant and the equipment. The land is a space of a business concern where office building, factory building, and store-building are built and business activities are carried out thereon. Buildings are the structures of a business concern where its activities are carried out. The building of a business concern is the plant asset. Plant and machinery Manufacturing concern uses heavy plant and machinery for production purposes. These are the fixed assets of the business. Business concern enjoys the utility of these plant and machinery for a longer period. Equipment means table, chair, cabinet, computer, copier, calculator, fax machine, telephone, computer, etc. used in offices and stores of the business. Long-term investment generally means stocks and bonds of other companies purchased. These are purchased - to hold control over other companies, - for permanent income and - for maintaining good relations with other companies. The assets which are invisible and untouchable are called intangible assets of a business, such as, goodwill, trademark, copyright, preliminary expenses, share discount, brand name, etc. Liabilities payable within a short period of quickly changeable are called current liabilities. The liabilities which are payable within the next year from the date of the balance sheet or within an operating cycle whichever is longer are called current liabilities. Accounts payable, notes payable, expense payable, dividend payable, unearned revenue, bank loan, interest payable etc. The liabilities which are payable after one year from the date of the balance sheet or after an operating cycle whichever is longer are called long-term liabilities. Such as mortgage loan, debenture, long term notes payable, lease, pension, and gratuity fund, etc. Owner’s equity differs as per the nature of the business In a sole-proprietorship business, a single capital account is maintained. In a partnership business, separate capital accounts are maintained for individual partners. In the case of a joint-stock company owner’s equity is divided into share capital and retained earnings. Share capital and retained earning joined together are called shareholder’s equity.

wikiHow is a “wiki,” similar to Wikipedia, which means that many of our articles are co-written by multiple authors. To create this article, 38 people, some anonymous, worked to edit and improve it over time. There are 11 references cited in this article, which can be found at the bottom of the page. This article has been viewed 1,589,834 times. It's really important to know how much an item is going to cost before you purchase it. It's not as easy as just looking at the price tag; sales tax must be calculated in order to determine the total cost. Sales tax rates are increasing, which makes the tax impact on a purchase more significant. Use these tips to learn how to calculate sales tax on your retail purchases. Method 1 of 4: Calculating Total Cost 1Multiply the cost of an item or service by the sales tax in order to find out the total cost. The equation looks like this: Item or service cost x sales tax (in decimal form) = total sales tax. Add the total sales tax to the Item or service cost to get your total cost. X Research source Calculating Sales Tax Change the sales tax into decimal form. For instance: 7.5% sales tax becomes .075 in decimal form 3.4% sales tax becomes .034 in decimal form 5% sales tax becomes .05 in decimal form Formula: Item or service cost x sales tax (in decimal form) = total sales tax. Sample calculation: $60 (item cost) x .075 (sales tax) = $4.50 total sales tax 2Once you've calculated sales tax, make sure to add it to the original cost to get the total cost. If the total sales tax is $5 and your original item cost was $100, your total cost will be $105. X Research sourceAdvertisement Method 2 of 4: 1Try this example. You're buying a basketball in the state of Colorado, where sales tax is 2.9%. X Research source The basketball costs $25. How much is the total cost of the basketball, including sales tax? Convert the percentage sales tax into decimal form: 2.9% becomes .029. Multiply it out: $25 x .029 = $.73, or $25.73 total cost 2Try another example. You're buying groceries in the state of Mississippi, where the sales tax is 7%. The grocery bill costs $300. How much is the total cost of the grocery bill, including sales tax? Convert the percentage sales tax into decimal form: 7% becomes .07. Multiply it out: $300 x .07 = $21, or $321 total cost 3Try a third example. You're buying a car in the state of Massachusetts, where sales tax is 6.25%. X Trustworthy Source State of Massachusetts Official website for the State of Massachusetts Go to source The car costs $15,000. How much is the total cost of the car, including sales tax? Convert the percentage sales tax into decimal form: 6.25% becomes .0625. Multiply it out: $15,000 x .0625 = $937.5, or $15,937.5 total costAdvertisement Method 3 of 4: Calculating Sales Tax Rate 1"De-calculate" by working backward if you know the original cost of the item. X Research source You can work backwards to figure out the sales tax rateas long as you know how much the item initially cost. Let's say you bought a computer, listed at $1,200, and the total bill came out to $1,266, meaning that the sales tax was $66. What is the sales tax rate? Take the tax rate and divide it by the original price: $66 ÷ $1,200 = .055 Convert the decimal into a percentage by moving the decimal point two places to the right: .055 becomes 5.5% Your original sales tax rate is 5.5%Advertisement Method 4 of 4: 1Know that some American states do not have sales tax. These states currently include: X Research source - New Hampshire 2Know that states levy different taxes for different goods. A state or district, such as District of Columbia, may have a general sales tax of 6%, but set the tax rate on liquor and prepared food at 10%. X Research source - New Hampshire, for example, has no general sales tax but still taxes restaurants, food services, hotels, room rentals, and motor vehicle rentals at 9%. X Research source - Massachusetts, for example, only starts counting sales tax associated with clothing when the bill exceeds $175. So if you buy under $175 worth of clothing in Massachusetts, the state government won't tax it. X Trustworthy Source State of Massachusetts Official website for the State of Massachusetts Go to source 3Be sure to check with your local state and city when calculating sales tax. We don't often talk of "city sales tax," but it's there. X Research source Most people, however, just lump it in with state sales tax. If you want to know exactly how much money you'll pay in taxes for a certain item,check your local state and city tax lawsfor more informationAdvertisement Every day at wikiHow, we work hard to give you access to instructions and information that will help you live a better life, whether it's keeping you safer, healthier, or improving your well-being. Amid the current public health and economic crises, when the world is shifting dramatically and we are all learning and adapting to changes in daily life, people need wikiHow more than ever. Your support helps wikiHow to create more in-depth illustrated articles and videos and to share our trusted brand of instructional content with millions of people all over the world. Please consider making a contribution to wikiHow today. QuestionHow do I add 6% sales tax to an amount?Community AnswerMultiply the amount x 1.06. This will give you the total amount, including the tax. The "1" is 100% of the item cost, and the ".06" is the tax rate of 6%. For example, you buy a screw driver set for $10.00 and the sales tax rate is 6%. $10.00 x 1.06 = $10.60. This is your total, including tax. QuestionCan 6% be written as 0.0600?Community Answer6% would be 0.06, all you do is move the decimal two spaces to the left. For example 6% sales tax on an item would be calculated by multiplying the total cost by the decimal form of the percentage. Say the total cost was $30.00, it would be calculated as 30 x 0.06 = 1.8 then add the quotient to the original cost. QuestionIf I sell three trees at $85.00 per tree and tell the buyer I included the 6% sales tax in the total price, and $85.00 per tree equals $255.00, when I make out my sales tax form, what do I say the amount of tax was and what was the sale amount?Community AnswerTo calculate the sales tax that is included in receipts from items subject to sales tax, divide the receipts by 1 + the sales tax rate. For example, if the sales tax rate is 6%, divide the total amount of receipts by 1.06. $255 divided by 1.06 (6% sales tax) = 240.57 (rounded up 14.43 = tax amount to report. QuestionHow much is $1070.50 + 6% tax?Community AnswerThe answer is $1134.73. Multiply by 1+ tax rate. So, $1070.50 X 1.06 = $1134.73. QuestionHow can I convert percentages to decimals?Community AnswerYou take the percentage, divide it by 100 (because percentages are out of 100) and that is the decimal equivalent of that percentage. QuestionHow do I add 9 percent to 189?Community AnswerCalculate 1 percent (in this case, 1.89), multiply that by 9, and add it to 189. QuestionIf I have an item to be sold for $46,000 including tax and the tax rate is 7.38%, how do I find the base price for the item?Community AnswerTo find the cost or base price of an item use the total and divide it by the tax rate: $46,000 / 1.0738 = $42,838.52. That is the base price. Now to get the total tax rate you can use $46,000 - $42,838.52 = $3,161.48. So you have total including tax = cost plus total tax. $46,000 = 42,838.52 + 3,161.48. The only tricky part is the tax rate has to be converted to divide to it; you take 7.38 x 100 = 0.0738 and you add 1, so it's 1.0738. QuestionHow can I find the original cost with only the sales tax total and rate? For example: tax rate is 8.6% and collected tax is $15.55.Community AnswerDivide the total tax by the tax rate. In your case, $15.55 / 8.6% = $180.81. The original cost is $180.81, and the total cost with tax included is $180.81 + $15.55 = $196.36. QuestionHow does sales tax impact my paycheck?Top AnswererIt should not impact your paycheck at all. QuestionHow do I know what the sales tax is from a total?Community AnswerUnless the tax rate is explicit you would need to know the cost to get the total sales tax. You can't find it from 1 value alone. What is the sales tax in restaurants in Illinois? When buying a new vehicle, do I pay taxes on the sticker price or the price after any rebates are given? How do I find out the sales tax rate that was used if I only have the total and the sales tax dollar amount? Does shipping get added to the cost before calculating sales tax or is it excluded? How do I find my state's sales tax rate? - When calculating sales tax, round up to the next penny X Research source if you get an amount that has too many decimal places. If your purchase price is $35.50 and your sales tax rate is 7.4 percent, the total when you multiply them is $2.627. Round that up to $2.63 for your amount of sales tax. - ↑ https://www.patriotsoftware.com/accounting/training/blog/how-to-calculate-sales-tax/ - ↑ https://www.taxjar.com/guides/sales-tax-guide-for-consumers/#how-is-sales-tax-calculated - ↑ http://www.colorado.gov/cs/Satellite/Revenue/REVX/1178305433490 - ↑ http://www.mass.gov/dor/individuals/taxpayer-help-and-resources/tax-guides/salesuse-tax-guide.html - ↑ https://sciencing.com/how-to-calculate-sales-tax-backwards-from-total-13712245.html - ↑ https://www.investopedia.com/articles/personal-finance/112415/5-states-without-sales-tax.asp - ↑ http://www.taxrates.com/state-rates/washington-dc/ - ↑ https://www.revenue.nh.gov/assistance/tax-overview.htm#meals-rental - ↑ https://www.mass.gov/guides/sales-and-use-tax#apparel-fabric-goods About This Article To calculate sales tax, first convert the sales tax from a percentage to a decimal by moving the decimal 2 places to the left. Then multiply the cost of the item or service by that decimal to get the sales tax. Remember to add the sales tax to the cost of the item or service to get the total amount you will pay for it. For more information on how to calculate sales tax, including some examples, scroll down!

Some of the important factors determining the optimum mode of transportation are as follows: (i) The objective function is to reduce the transportation cost to the minimum (ii) The maximum quantity available at the source (factors) is limited. This is a constraint. (iii) Maximum quantity required at the warehouse is specified. This cannot be exceeded. This is a second constraints. (iv) Maximum quantity available at the source, maximum quantity required at each destination and the cost of transportation, all refer to a single product. (v) Sum of the products available for all sources put together will be equal to sum of products distributed at various destinations. (vi) Transportation techniques are used to help in reduction of transportation cost and help in the following parameters: a) Reduce distribution and transportation cost. b) Improve competitiveness of the product. c) Assist proper location of new factories/plants being planned. d) Reduce cost by closing down uneconomical warehouses. (vii) We have 5 means of transportation at our disposal. Railway, Road, Water, Airplanes, Pipe lines. The choice of transport is governed by a few criteria, such as speed, frequency of service, dependability, availability, safety, operational flexibility and above all the element of cost. The decision on means of transport are closely related to the inventory and on the location of warehouses. We must consider the overall total cost of physical distribution and not merely the cost of transport. Railways offer widest variety and therefore, flexibility in transport. Water transport is the cheapest, but it is very slow. Road transport offers unlimited geographic locations which can be served easily and it also gives flexibility. Pipe lines are excellent for transport of oil or petroleum products which can be delivered on scheduled times. Air transport is the fastest and suitable for costly or perishable goods where speed is very important. Air transport can improve cash flow and profitability of the firm. Bulky products are usually sent by railway transport. Rail transport is suitable for long distance. Road transport is suitable for short distance and costly goods. (i) Railways have pioneered and promoted the use of containerization to facilitate material handling aspect of transport. (ii) All means of transport can co-operate with the help of container services and the entire transport process becomes more efficient, and flexible. Containers can fit on both trucks and open rail wagon. This is called piggyback and when containers can be fitted on trucks, wagon and ships, it is called fishy back. (iii) When goods are transported in containers which can be fitted on trucks and airplanes, it is called birdy back. (iv) Decentralization of warehousing, development of distribution centres (i.e., with service and warehousing facilities) can lead to lower cost of transport and ultimately lower cost of distribution. (v) The total cost approach, the idea of cost trade-offs, the system approach and avoidance of sub-optimisation of costs are the principal supporting concepts of the modern physical distribution system. (a) Machinery used for material handling: The handling of materials influences the efficiency and the distribution cost of materials. The materials handling system should be so designed as to maximise efficiency and minimise cost. Every movement of materials adds to cost and therefore, materials handling strategy should be to eliminate as much handling as possible. The handling of materials takes place at producer’s plant and warehouse and at the warehouses of the distributor and customer in addition to handling during transportation, if necessary. Materials handling equipment should be simple and consistent with the nature of materials and speed of movement. Use of mechanical devices helps to reduce costs of handling materials. But cost savings should be large enough over the cost of owning and maintaining the handling equipment. The following types of handling equipment are generally used at warehouses and for transportation. Belt conveyors, Fork Truck, Bridge Crane, Jib Crane, Gantry Crane, Electric Hoist, Roller Conveyor, Chain Hoist, Industrial Trucks such as Fork Lift Truck, Platform Truck, Pallet Handling Trucks, Trolleys and Loaders etc. (b) Procedure and Documentation for Transportation Logistics: Cost of transportation is on the basis of unit weight (i.e., ton) and kilometer of distance. Water transport being the cheapest mode of transportation is used for large quantities heavy goods such as Cement and Steel and Chemicals/Fertilizers. Companies having manufacturing facilities in the proximity of sea port or river banks use the water transport facilities as maximum as possible. Companies using lorries for road transports attempt to economies the cost of transportation by using the full lorry load and making arrangement such that the lorry on return is able to carry goods useful for the company itself or any of its associates. Rail transport needs good packaging of goods is used for long distance transportation. Air transport is useful for costly items such as fancy and luxury goods and also in emergency cases. Documentation for transportation logistics is made in such a way that following information are obtained for transport of goods from producer to the customer. The information’s are as follows: Batch No., Date of Production, Type of goods, Grade, Quantity, Unit of Transportation, Cost of Transportation, Mode of Transport with details, Costs of handling at various stations and final date of delivery to customers etc.

The Affluence Network Bazaar The physical Internet backbone that carries data between the different nodes of the network is currently the work of a number of companies called Internet service providers (ISPs), which includes companies that provide long distance pipelines, occasionally at the international level, regional local conduit, which ultimately links in homes and businesses. The physical connection to the Internet can only occur through one of these ISPs, players like level 3, Cogent, and IBM AT&T. Each ISP operates its own network. Internet service providers Exchange IXPs, owned or private firms, and occasionally by Governments, make for each of these networks to be interconnected or to transfer messages across the network. Many ISPs have agreements with suppliers of physical Internet backbone providers to offer Internet service over their networks for “last mile”-consumers and businesses who want to get Internet connectivity. Internet protocols, followed by everyone in the network makes it possible for the data to flow without interruption, in the correct spot at the perfect time. While none of these organizations “owns” the Internet together these firms determine how it works, and recognized rules and standards that everyone remains. Contracts and legal framework that underlies all that is happening to ascertain how things work and what happens if something goes wrong. To get a domain name, for instance, one needs permission from a Registrar, which has a contract with ICANN. To connect to the Internet, your ISP must be physical contracts with providers of Internet backbone services, and suppliers have contracts with IXPs from the Internet backbone to attach to and with her. Concern over security problems? A working group is formed to focus on the problem and the solution developed and deployed is in the interest of all parties. If the Internet is down, you might have someone to phone to get it repaired. If the problem is from your ISP, they in turn have contracts in place and service level agreements, which regulate the way in which these issues are solved. The benefit of cryptocurrency is that it uses blockchain technology. The network of nodes the make up the blockchain is not governed by any centered business. No one can tell the miners to update, speed up, slow down, stop or do anything. And that is something that as a committed supporter badge of honor, and is identical to the way the Internet operates. But as you understand now, public Internet governance, normalities and rules that regulate how it works present inherent difficulties to an individual. Blockchain technology has none of that. Many people prefer to use a money deflation, particularly those that desire to save. Despite the criticism and disbelief, a cryptocurrency coin may be better suited for some uses than others. Fiscal solitude, for example, is amazing for political activists, but more debatable as it pertains to political campaign financing. We need a stable cryptocurrency for use in commerce; If you are living pay check to pay check, it’d happen included in your wealth, with the rest reserved for other currencies. For most users of cryptocurrencies it’s not necessary to understand how the procedure works in and of itself, but it’s basically crucial that you understand that there’s a process of mining to create virtual currency. Unlike currencies as we understand them now where Authorities and banks can only choose to print endless quantities (I ‘m not saying they are doing thus, only one point), cryptocurrencies to be managed by users using a mining program, which solves the advanced algorithms to release blocks of currencies that can enter into circulation. The Affluence Network Bazaar as Ethereum. The platform allows creation of a contract without having to go through a third party. The third parties involved can contain bank, credit card Firm, You may run a search on the web. First learn, then models, indicators and most importantly practice looking at old charts and pick out trends. Anytime you learn to keep a trading diary screenshots and your comment/forecast. Precisely what is the best way to get confident with charts IMHO. Oh certainly, and don’t fool yourself into thinking that you acquire the uptrend will never go lower! Always will go down! You will discover that incremental benefits are more reliable and profitable (most times) Entrepreneurs in the cryptocurrency movement may be wise to investigate possibilities for making gigantic ammonts of money with various kinds of internet marketing.There could be a rich reward for anyone daring enough to endure the cryptocurrency marketplaces.Bitcoin design provides an informative example of how one might make lots of money in the cryptocurrency marketplaces. Bitcoin is an incredible intellectual and technical accomplishment, and it’s created an avalanche of editorial coverage and venture capital investment opportunities. But very few people understand that and pass up on very successful business models made accessible as a result of growing use of blockchain technology. It is definitely possible, but it must be able to recognize opportunities regardless of market behavior. The market moves in relation to cost BTC … So even if it’s in a BTC trend down can make money by purchasing the altcoins which are altcoin oversold trading ratios-BTC. Sure, your purchasing power in DOLLARS may be lower, but as long as your purchasing power in BTC is still growing you’ll be alright. When searching on the internet for The Affluence Network bazaar, there are many things to ponder. The Affluence Network Bazaar Click here to visit our home page and learn more about The Affluence Network bazaar. Since among the oldest forms of making money is in money financing, it’s a fact that you could do that with cryptocurrency. Most of the giving websites currently focus on Bitcoin, a few of these websites you happen to be demanded fill in a captcha after a particular time period and are rewarded with a small amount of coins for seeing them. It is possible to visit the www.cryptofunds.co website to find some lists of of these websites to tap into the currency of your choice. Unlike forex, stocks and options, etc., altcoin markets have very different dynamics. New ones are always popping up which means they do not have a lot of market data and historical view for you to backtest against. Most altcoins have fairly inferior liquidity as well and it is hard to develop an acceptable investment strategy. Cryptocurrency is freeing individuals to transact cash and do business on their terms. Each user can send and receive payments in an identical way, but in addition they get involved in more complicated smart contracts. Multiple signatures allow a trade to be supported by the network, but where a specific number of a defined group of folks consent to sign the deal, blockchain technology makes this possible. This allows progressive dispute arbitration services to be developed in the foreseeable future. These services could allow a third party to approve or reject a trade in the event of disagreement between the other parties without checking their cash. Unlike cash and other payment procedures, the blockchain constantly leaves public proof a transaction occurred. This can be possibly used in an appeal against companies with deceptive practices. This mining task validates and records the transactions across the whole network. So if you’re trying to do something illegal, it isn’t wise because everything is recorded in the public register for the rest of the world to see eternally. Bitcoin is the main cryptocurrency of the internet: a digital money standard by which all other coins are compared to. Cryptocurrencies are distributed, world-wide, and decentralized. Unlike traditional fiat currencies, there is no governments, banks, or every other regulatory agencies. As such, it truly is more resistant to outrageous inflation and tainted banks. The benefits of using cryptocurrencies as your method of transacting cash online outweigh the security and privacy risks. Security and privacy can easily be reached by simply being smart, and following some basic guidelines. You wouldn’t set your entire bank ledger online for the word to see, but my nature, your cryptocurrency ledger is publicized. This can be fastened by removing any identity of possession from your wallets and thereby keeping you anonymous. If you are looking for The Affluence Network bazaar, look no further than TAN. The Affluence Network Bazaar Cryptocurrencies such as Bitcoin, LiteCoin, Ether, YOCoin, and many others have already been designed as a non-fiat currency. Put simply, its backers contend that there is “real” value, even through there isn’t any physical representation of that value. The value rises due to computing power, that’s, is the lone way to create new coins distributed by allocating CPU electricity via computer programs called miners. Miners create a block after a time frame that is worth an ever diminishing amount of currency or some type of reward so that you can ensure the deficit. Each coin contains many smaller components. For Bitcoin, each unit is called a satoshi. Operations that take place during mining are just to authenticate other trades, such that both creates and authenticates itself, a simple and elegant solution, which can be one of the appealing aspects of the coin. The blockchain is where the public record of trades dwells. The fact that there is little evidence of any increase in the use of virtual money as a currency may be the reason why there are minimal attempts to regulate it. The reason for this could be simply that the market is too small for cryptocurrencies to warrant any regulatory attempt. It’s also possible that the regulators just don’t comprehend the technology and its consequences, awaiting any developments to act. Mining cryptocurrencies is how new coins are put in circulation. Because there is no government control and crypto coins are digital, they cannot be printed or minted to make more. The mining process is what produces more of the coin. It may be useful to consider the mining as joining a lottery group, the pros and cons are precisely the same. Mining crypto coins means you will really get to keep the total benefits of your efforts, but this reduces your chances of being successful. Instead, joining a pool means that, overall, members will have a greater possibility of solving a block, but the reward will be divided between all members of the pool, depending on the number of “shares” won. If you are thinking of going it alone, it really is worth noting that the software settings for solo mining can be more complicated than with a swimming pool, and beginners would be probably better take the latter path. This option also creates a stable flow of revenue, even if each payment is small compared to fully block the wages. In the case of the fully functioning cryptocurrency, it might perhaps be traded as being a commodity. Supporters of cryptocurrencies say that this type of virtual income is not governed by way of a key bank system and is not therefore subject to the whims of its inflation. Because there are always a restricted amount of items, this money’s value is founded on market forces, permitting homeowners to trade over cryptocurrency exchanges. Here is the trendiest thing about cryptocurrencies; they usually do not physically exist anywhere, not even on a hard drive. When you take a look at a specific address for a wallet containing a cryptocurrency, there is absolutely no digital information held in it, like in the exact same way that a bank could hold dollars in a bank account. It really is simply a representation of value, but there is absolutely no genuine palpable kind of that value. Cryptocurrency wallets may not be confiscated or immobilized or audited by the banks and the law. They would not have spending limits and withdrawal constraints enforced on them. No one but the person who owns the crypto wallet can determine how their riches will be managed. The wonder of the cryptocurrencies is that scam was proved an impossibility: as a result of dynamics of the method where it is transacted. All transactions over a crypto-currency blockchain are permanent. Once youare paid, you get paid. This isn’t anything short-term where your visitors can challenge or need a concessions, or use unethical sleight of hand. In practice, most dealers will be smart to utilize a cost processor, because of the permanent dynamics of crypto-currency orders, you must be sure that safety is challenging. With any type of crypto-currency whether a bitcoin, ether, litecoin, or any of the numerous different altcoins, thieves and hackers might access your private secrets and so grab your cash. Unfortunately, you most likely can never have it back. It’s quite crucial for you yourself to follow some excellent safe and sound routines when working with any cryptocurrency. Doing so will protect you from many of these damaging events.

A senior analyst at independent energy research and consulting firm Rystad said the Trans-Adriatic Gas Pipeline (TAP) would provide Italy with a natural gas supply security. Italy currently imports natural gas from Russia, Algeria, Qatar, and Norway to diversify energy sources, thereby reducing its dependence on Russian natural gas. In 2018, Italy imported about 23 billion cubic meters of natural gas from Russia. By 2019, as Turkey reduces its natural gas imports from Russia, it will become one of the largest buyers after Germany. Therefore, other natural gas sources will help stabilize their demand. The pipeline is inseparable from the bearing, an vital component, such as stainless steel ball bearings. Excellent corrosion resistance: Stainless steel bearings are difficult to rust and have strong corrosion resistance. Washable: Stainless steel bearing can be washed down without having to lubricate to prevent rust penalties. Can run in liquids: Due to the materials used, we can run bearings and housings in fluids. Slower depletion: AISI 316 stainless steel does not require oil or grease corrosion protection. Therefore, if speed and load are low, no lubrication is required. These are precisely what is needed to build the TAP pipeline. The TAP project is worth 4.5 billion euros and is one of the EU’s key energy projects. The project envisages the transfer of natural gas from the second phase of the Shaadniz project in Azerbaijan to EU countries. TAP will connect the Trans-Anatolian Pipeline (TANAP) at the Greek-Turkish border, cross northern Greece, Albania, and the Adriatic Sea, and then land in southern Italy to join the Italian natural gas network. Italy will receive 8.8 billion cubic meters of natural gas through TAP and is expected to supply by the end of 2020. By the end of January, 92% of the TAP project had been completed.

What is blockchain technology? For the past several weeks, you’ve likely heard some of the following terms if you’ve paid attention to the world of finance: Cryptocurrency, Blockchain, Bitcoin, Bitcoin Cash, and Ethereum. But what do they mean? And why is cryptocurrency suddenly so hot? First, we’ll explain the blockchain basics. As society become increasingly digital, financial services providers are looking to offer customers the same services to which they’re accustomed, but in a more efficient, secure, and cost effective way. Enter blockchain technology. The origins of blockchain are a bit nebulous. A person or group of people known by the pseudonym Satoshi Nakomoto invented and released the tech in 2009 as a way to digitally and anonymously send payments between two parties without needing a third party to verify the transaction. It was initially designed to facilitate, authorize, and log the transfer of bitcoins and other cryptocurrencies. How does blockchain technology work? Blockchain tech is actually rather easy to understand at its core. Essentially, it’s a shared database populated with entries that must be confirmed and encrypted. Think of it as a kind of highly encrypted and verified shared Google Document, in which each entry in the sheet depends on a logical relationship to all its predecessors. Blockchain tech offers a way to securely and efficiently create a tamper-proof log of sensitive activity (anything from international money transfers to shareholder records). Blockchain’s conceptual framework and underlying code is useful for a variety of financial processes because of the potential it has to give companies a secure, digital alternative to banking processes that are typically bureaucratic, time-consuming, paper-heavy, and expensive. Saving the planet, fixing healthcare, replacing conventional currency—there is apparently nothing that the shared-database technology known as blockchains can’t fix. At least, that’s the impression given by the horde of governments, banks, entrepreneurs, and tech companiesworking on the technology. But what is a blockchain and why the excitement? If you’ve got 2 minutes, check out the video above- WIRED can explain. What are cryptocurrencies? Cryptocurrencies are essentially just digital money, digital tools of exchange that use cryptography and the aforementioned blockchain technology to facilitate secure and anonymous transactions. There had been several iterations of cryptocurrency over the years, but Bitcoin truly thrust cryptocurrencies forward in the late 2000s. There are thousands of cryptocurrencies floating out on the market now, but Bitcoin is far and away the most popular. Bitcoin, Litecoin, Ethereum, and other cryptocurrencies don’t just fall out of the sky. Like any other form of money, it takes work to produce them. And that work comes in the form of mining. But let’s take a step back. Satoshi Nakamoto, the founder of Bitcoin, ensured that there would ever only be 21 million Bitcoins in existence. He (or they) reached that figure by calculating that people would discover, or “mine,” a certain number of blocks of transactions each day. Every four years, the number of Bitcoins released in relation to the previous cycle gets reduced by 50%, along with the reward to miners for discovering new blocks. At the moment, that reward is 12.5 Bitcoins. Therefore, the total number of Bitcoins in circulation will approach 21 million but never actually reach that figure. This means Bitcoin will never experience inflation. The downside here is that a hack or cyberattack could be a disaster because it could erase Bitcoin wallets with little hope of getting the value back. Always store large amounts of your Digital Currency Offline! Anything that is not used for trading on an exchange should be stored in cold storage. We will cover more on this in an upcoming article to help ensure you keep your investment safe. We recommend the Ledger Nano S, the Trezor Wallet and the Ledger Nano Blue (for those with a little more to spend.) Back to “Mining” As for mining Bitcoins, the process requires electrical energy. Miners solve complex mathematical problems, and the reward is more Bitcoins generated and awarded to them. Miners also verify transactions and prevent fraud, so more miners equals faster, more reliable, and more secure transactions. Thanks to Satoshi Nakamoto’s designs, Bitcoin mining becomes more difficult as more miners join the fray. In 2009, a miner could mine 200 Bitcoin in a matter of days. In 2014, it would take approximately 98 years to mine just one, according to 99Bitcoins. Super powerful computers called Application Specific Integrated Circuit, or ASIC, were developed specifically to mine Bitcoins. But because so many miners have joined in the last few years, it remains difficult to mine loads. The solution is mining pools, groups of miners who band together and are paid relative to their share of the work. Current & future uses of blockchain technology & cryptocurrency Since its inception, Bitcoin has been rather volatile. But based on its recent boom — and a forecast by Snapchat’s first investor, Jeremy Liew, that it would hit $500,000 by 2030 — and the prospect of grabbing a slice of the Bitcoin pie becomes far more attractive. Bitcoin users expect 94% of all bitcoins to be released by 2024. As the number moves toward the ceiling of 21 million, many expect the profits miners once made from the creation of new blocks to become so low that they will become negligible. But as more bitcoins enter circulation, transaction fees could rise and offset this. As for blockchain technology itself, it has numerous applications, from banking to the Internet of Things. In the next few years, BI Intelligence expects companies to flesh out their blockchain IoT solutions. Blockchain is a promising tool that will transform parts of the IoT and enable solutions that provide greater insight into assets, operations, and supply chains. It will also transform how health records and connected medical devices store and transmit data. We are in the infancy of a technology that has greater potential for revolutionizing technology and making a bigger impact than the coming of the internet in the 90’s. There is a use case for almost every industry, if we posted all the infographics this would be the longest blog post ever. If you understand and believe in the impact Blockchain Technology could have and the potential for it to revolutionize technology- buying and holding long term is the best strategy for anyone who is not a seasoned trader. For the latest bitcoin & altcoin news Subscribe to Our Blog! CryptoCurrency Clarified is the Only Unbiased Source covering CryptoCurrencies Online. If you’ll notice, every other “news source” is somehow affiliated with a coin desk or service that benefits if you follow their advice.

Logistics is the management of the flow of assets or goods from the point of origin to the endpoint of consumption. The future of logistics and transportation lies in technology and innovation. This has been the issue of most concern. Consumers are eager for significant transformations in the transport industry. With so much heat, the transport sector has to disrupt itself, or else the demand will force consumers to look for options. Here are the challenges facing the transportation industry. Experts in transport are incredibly concerned with the speed at which innovation is evolving. Technology is taking over like a disease. This has seen various logistics businesses struggle to keep up with the levels of developments in technology. As digital disruption and innovation become critical parts of the entire strategy for many businesses, a lot needs to change. The role of supply chain and logistics needs to alter to capitalize on the value of any digital investment an organization establishes. Supply chain integration Trade has globalized. Presently, goods are bought and sold to and from different people across the globe. This has made it critical to overseeing universal trade flows and geopolitics to comprehend the impact of demand and supply. However, the supply chain integration is not all about adhering to the present trade policies. Companies need to integrate in all the significant points within the supply chain to avoid data silos. One of the most significant challenges of the transportation industry is the ability to elevate flexibility when shipping is the subject. But, the new transport administration can enable companies to manage or assist some of the demanding integrations in the supply chain. Altering customer expectations Client expectations are now changing all because of technology. This is a fact. Moreover, as clients become information-enabled, they have expectations that their transport services keep them fully informed throughout the entire process. Similarly, because of the ballooning amount of accessible data, clients want to discover a business that operates with their precise expectations. This implies that the age of catch-all solutions is fast shrinking. It is being replaced with a more prominent, innovation –powered supply chain. With such information at hand, transport experts need to turn to offer the most exceptional value possible to the clients. This implies that they will have to comprehend better the impacts of technology trends in the transport process to allow the clients to witness what is transpiring at each step. Evolving digital requirements Several transport enterprises are still struggling with their approach when it comes to Information Technology systems. Correspondingly, the main challenge with the evolving digital requirements is extensive. They are jumping to the next digital bandwagon before solving the traditional tribulations. With such information at disposal, transport professionals need to act fast. They need to gear up for the right speeds. Failure to this, they will have to face two different ways of conducting business that collide with each other. Digital transformation means reshaping both strategies and models of conducting business to stay fully competitive in the digital age. This includes both large and small businesses. However, one thing is certain; failure to transform the transport processes to match the digital transformation can result in fewer revenue and profits because of few opportunities to do business. But, apart from implementing a new set of policies, the digital revolution also entails altering the mindset that is involved in doing business. Digital transformation goes beyond just installing applications and adding Internet of Things powered GPS tracking systems to your assets. Much is needed, not only expanding on how information can disrupt your business. Core systems transformation Transport firms need to know what their core systems are. They need to be aware of this before going ahead to attempt to disrupt their businesses. If they know, it’s wise they check again because, more often, companies develop with unique architectures. Businesses growing disparately make it challenging for the stakeholders to comprehend the business. However, with the latest technologies emerging in the transportation industry, companies have a chance to rejuvenate their business. They will also be able to modernize their supply chain administration. Transport automation and the Internet of Things partnered robots Order fulfillment and automating warehouses with robots has been challenging for the industry. However, with the pushing demand, various transport organizations are looking forward to utilizing them. They will assist in simplifying the processes. Clients are pushing for more modern transport techniques. With the emergence of e-commerce, transportation providers are required to operate efficiently and faster. They need to process an individual’s orders quickly. This is a sector that has surprised the industry. Many transportation companies are still struggling to adjust. Either way, they have no choice. Labor shortages have handed robotics the platform to reshape the transportation landscape. Companies used to have 80% of the warehouse’s operation conducted manually. With the rising demand, they have to deploy robots to make things more accurate, flexible, and affordable. This is a puzzle that most transport companies will cross the year with attempting to solve. Proactive cyber security With businesses transitioning to the digital age, so too are numerous cybercriminals improving and obtaining new objectives of all sizes and shapes. Transportation companies have been hacked not once but many times. But, most cyber attacks that have been happening come from the inside. Workers providing internal open vulnerabilities cause them. The vulnerabilities are caused by workers who fail to adhere to the designed Cyber Protocol. Transport firms have struggled with this menace for a long time. Until a permanent approach is made to solve this issue, the transport industry will still be battling problems of cyber security in the coming year. The transportation industry is aiming at enhancing the visibility of the supply chain as a means of elevating integrity and product security. However, this will not be met without efforts to solve the challenges facing the industry. The problems pose costly consequences for the sector. To keep the clients intact and trusting the systems, much will have to be done.

Lesson Plan Part II: Estimating Bills This post continues the lesson plan introduced in Part I. Part II: Bills, Bills, Bills After students figure out their rough net pay from Part I of the budgeting assignment, now starts the “not-so-fun” part — figuring out their monthly bills. This part of the assignment prompts heavy sighs and dramatic comments about students realizing how expensive it is “just to live.” (But don’t fear, the fun spending is next!) I divide this section into two parts — the payments all MUST make and the ones that may not apply to their individual situation. Before students get started on the actual “budget” part of their bills, we discuss housing. Since housing is the largest expense for most people, it’s important for students to realize their options. We cover some of the basics about housing — lease agreements, security deposits, pet policies, benefits and drawbacks of having roommates — and I have them find 3 possible options in a city where they want to live as an adult. I recommend students look for options at different price points and with different numbers of roommates while they compile a list of pros and cons of their top three choices. For reference, the average one-bedroom in our city is $815/month and the average two-bedroom is $900. (I encourage students to try to keep housing costs below 30% of monthly net pay, but students are free to make their own decisions about housing while weighing their opportunity costs.) After students select their rent options, it’s on to the bills! Students should always complete this part in pencil 🙂 Bills Part I — The Necessities I have several things students all must factor into their monthly necessary bills: - Taxes (they already calculated their yearly federal taxes in Part I of the budgeting lesson plan) - Retirement Contributions (they already calculated their yearly federal taxes in Part I of the budgeting lesson plan) - Rent (Students choose one of the places from their research) - Utilities (To keep this simple, I have all students use $192 for the unit’s utilities bills since it is my city’s average — if they have roommates they can use division for their portion of the utilities bills) - Renter’s Insurance (Students use the national average of $12. I always emphasize the importance of having renter’s insurance with students.) - Health Insurance (Although the students’ future jobs may offer health insurance, I want them to see this item explicitly in their budget. Students use $196, the price of catastrophic insurance price for healthy 20-somethings my city) - Groceries (Students use $230, the USDA’s “thrifty” plan estimate) - Philanthropy (Students pick a charity they would support and any value $1 or above. My state includes philanthropy on the economic standards for budgeting, but I think it’s great to emphasize giving to a cause they care about in any amount they can afford) Bills Part II — Payments This part of the bills includes payments that most students will have. - Emergency Savings (I recommend at least 10% of net pay for all students — all students must have something going toward their emergency savings account) - Student Loan Payments (Students who go to college/graduate school will calculate the average payment for tuition using online calculators) - Car Payments (Once again students will use online calculators) - Car Insurance (Students can use the average monthly US payment of $77) - Gas/Car Maintenance(Students can use averages of $120 and $50 respectively) - Other Transportation Costs (Bus/Subway passes, bike maintenance, ride sharing, etc.) For bills, students will need to perform some calculations that are unique to their desired situation. I try to keep the math simple and utilize online calculators for things like student loan and car payments. Not all students will have these payments, but I want them to realize how much student loans and cars will really cost them as “adults” — especially if they are not used to paying bills on their own. I feel strongly about students having a concrete idea of how much it will cost to live their desired life. Personally, I had absolutely no concept of the cost of bills after high school, especially when it came to student loans (and I’m still feeling that cost today). I want students to be able to customize this assignment as much as possible, but I make sure students do this in pencil. Many students will erase their numbers when they realize exactly how much is leftover for the “fun” spending in the next part. Some realize they should downsize their apartment or continue to drive their current car into adulthood in order to reduce their bills. Realizing these opportunity costs is important at this age so they can prepare for being a financially independent adult. Although bill calculations are not fun or exciting, hopefully students can look forward to an apartment or car they love. Or maybe it’s the prospect of having money set aside in savings and investment accounts. I want students to come away with knowledge and hopefully they will be excited for some aspect of their living situation. The next part of the assignment — the “fun” part of discretionary spending — allows for students to spend money on the things that bring them joy. Before students proceed to the fun stuff, they should add their spending on the necessities and figure out how much is leftover from their gross pay. I have them use this chart to help keep track: Now on to Part III!

NEWSLETTER FEBRUARY, 2020 – MARKET ANALYSIS from Grégory Pradels Fast fact: in 20 years of cubesat missions, fewer than 30% are considered to have reached their goal. But what lies behind this seemingly stark statistic? The pie chart below, presented at last year’s Cubesat Developer workshop, shows the spread of outcomes over 20 years of cubesat missions (2000-2019). The chart is based exclusively on available data, which represent a nonetheless significant sample of 1,011 satellites. Taking a critical view, we could point to the fact that only 30% of the satellites in this study fully accomplished their mission or that more than 17% were lost at an early stage or dead on arrival. However, it should be stressed that most of these satellites were built by newcomers to the market. The goal for many of them is not to deliver an operational service, but rather to demonstrate the value of their proposition in order to attract talent (universities) or stimulate demand (start-ups). They should therefore be seen as a first step towards validating a concept and scaling up to either more operational cubesats or larger satellites. The best example of this kind of approach is the U.S. firm Planet. Cubesats have therefore found their market with players who have so far shunned space technologies due to their cost and complexity. It is a market with its own codes that transcend the traditional market for operational missions, which is why legacy players have not embraced it. The cubesat form factor has opened the market to new consumers. In economics, such unexplored market territories are termed “blue oceans”. This new market is extensive, notably as a result of the many universities involved around the globe. In some countries like the United States or China, for example, engineering schools are now finding themselves obliged to include a cubesat course in their curriculum or risk losing students.

As we marked the 47th annual Earth Day on April 22nd, we were once again reminded of the need to protect our environment. This heightened awareness is testament to how far Americans have come in both recognizing and curbing the wasteful, destructive behaviors that emerged in the decades following World War II. Those excesses have given rise to conservation and environmentalism, and were heralded by the first Earth Day in 1970. Today’s Wasteful Behavior: Cash Out Leakage While we may be more environmentally-conscious these days, we don’t apply the same principles financially. There is a highly-wasteful and harmful behavior that silently robs millions of the prospect for a comfortable or timely retirement. Every year, millions of Americans will needlessly cash out their retirement savings after changing jobs, converting these savings into wasted consumption and avoidable tax penalties. Newly-compiled statistics by Retirement Clearinghouse paint a grim picture: - In 2017, approximately 14.8 million defined contribution plan participants will change jobs. - Of these job-changing participants, over 31%, or 4.7 million, will cash out their retirement savings in the first year following their separation. - Another 1.4 million will cash out their savings over the next 7 years. - In total, 6.1 million, or 42% of the job-changers from the “class of 2017” will eventually cash out over $68 billion in retirement savings. Digging deeper into the demographics of cash out leakage, the statistics further demonstrate that the participants most-affected by cash out leakage can least afford it, including: - Younger age groups, particularly Millennials - Lower income groups - Minorities, particularly African-Americans and Hispanics For a dramatic, visual representation of the problem of cash out leakage, visit Retirement Clearinghouse’s National Retirement Savings Cashout Clock, which depicts an up-to-the-minute counter of the retirement savings already cashed out in 2017. The numbers are staggering. Solving the Problem of Cash Out Leakage The good news about cash out leakage is that we understand its causes and how to prevent most of it. A 2015 study of America’s Mobile Workforce found that most job-changing plan participants, when faced with the difficulty of “do-it-yourself” portability, simply took the path-of-least-resistance and cashed out their retirement savings, while slightly more than a third of participants who cashed out actually needed the funds for an economic emergency. From a behavioral perspective, if moving retirement savings forward to the next employer’s plan were made as easy as cashing out, then almost two-thirds of the cash out leakage problem could be solved. Consequently, Auto Portability is the first innovation that could spell the end for excessive cashout leakage. Auto Portability is the routine, standardized and automatic movement of an inactive participant’s small balance retirement account (less than $5,000) from a former employer’s retirement plan to an active account at a new employer’s retirement plan, when a participant changes jobs. Auto Portability has gained some influential supporters who believe that reducing cash out leakage could deliver a massive benefit to our economy and is achievable by the private sector. New research from EBRI, presented on March 30th at a forum hosted by the Financial Services Roundtable, has calculated the present value of Auto Portability’s benefits at $2 trillion. This analysis places Auto Portability ahead of auto IRA initiatives and just behind universal defined contribution coverage in terms of the impact on the total retirement savings shortfall. By any definition, this analysis clearly establishes Auto Portability as a leading public policy initiative. At the same event, former Sen. Kent Conrad of the Bipartisan Policy Center expressed his support for a private-sector “retirement security clearinghouse” to help job-changers consolidate their retirement savings. The BPC’s position clearly demonstrates the strong bipartisan support that Auto Portability enjoys, and that it’s benefits could be efficiently delivered without imposing a burden on America’s taxpayers. On Earth Day 2017, we’re seeing encouraging signs that the problem of retirement savings cash out leakage will finally get the attention that it deserves.

Japan's Emergence as an Innovating Economy Japan's emergence in the 1970s and 1980s as a technological and innovative powerhouse impressed and fascinated the world. Many believed that Japan's technological gains stemmed from government-provided subsidies. In this video lecture, Lee Branstetter, Professor of Economics and Public Policy at Carnegie Mellon University, makes the case that most of Japan's emergence as a technological leader stems from its educational system and its ability to train well-qualified engineers and knowledge workers. The accompanying discussion guide will help students better understand Japan's rapid industrial growth, and in particular, the role of industrial policy in Japan’s emergence as a high tech manufacturing power.

For the organizations that survived the 2008 to 2009 recession, growth now seems to be the dominant theme. Is this a sign that we are past the scarcity introduced by the recession or is it just a form of coping with economic limitations? Most organizations in the U.S. experienced a revenue shrinkage that ranged between 15 percent and 40 percent from 2008 to 2010. This shrinkage translated into stopping most investments, diminishing capabilities due to layoffs, greater amount of work and related stress for remaining employees, wage reductions, and an emphasis on short term strategies. There have been many comparisons between the Great Depression and what is now called the “Great Recession.” The rate of contraction in global trade between 2007 and 2008 was worse than the Great Depression. The proportionate decline in global stock market wealth was rather dramatic. Estimates suggest that household wealth in the U.S. declined 17 percent in during the recession while it declined, by comparison, by a mere three percent in between 1928 and 1929. On the other hand, it would be naïve to argue in terms of the duration of the recession and its impact on jobs and livelihoods that it was anywhere as impactful as the Great Depression. Unemployment reached 25 percent in the U.S. during the 1930s. In both 2008 and 2009, even the worst affected economies did not exhibit unemployment rates in that range. In July 2008, the Associated Press reported that a “depression era” mentality was taking hold of consumers. Author Julie Hall stated that 78 million baby boomers assumed this type of mentality inherited from their parents. Leaders across the world responded to the scarcity of available funds and much lower spending by taking measures not just in their personal lives, but in their organizations too. Scarcity is both a physical reality and a mindset. As a physical reality and stated in economic terms, scarcity means demand is greater than supply. In the case of the “Great Recession,” the demand for spending rapidly outweighed the available supply of funds. As an example, endowments for hospitals dropped by 21 percent in 2008, according to news reports. Endowments account for as much as 40 percent of the overall income for these institutions. As a mindset, scarcity is the perception that there is not enough for everyone. Eldar Shafir of Princeton University and Sendhil Mullainathan of Harvard University have been exploring how scarcity produces its own cognitive traits and psychology. These researchers have pointed out that people tend to have a low view of themselves in times of scarcity and actually perform poorly in terms of cognition. Studies conducted by Shafir and Mullainathan show that scarcity makes us operate with a short term mentality and with a greater number of mistakes. Unfortunately, organizations today suffer from both forms of scarcity, which are combined in a reinforcing loop. A third variable which complicates matters for public companies is the pressure to increase earnings per share (or EPS), which normally translates into higher stock prices. The irony is that in our current market, stocks are following the emotions of investors and not necessarily sound company fundamentals. I mentioned growth at the start of this blog. Past the peak of the recession and the compression that most organizations felt, growth became the main theme for most CEOs and their leadership teams. Part of this growth was aimed to recover the lost revenue during 2008 and 2009 but, beyond that, most leadership teams have recognized that managing “limitation” is hard and certainly not enjoyable. How does the current approach to growth differ from what we did to fuel the growth in the 1990s and the mid-2000s? By 1. Doing more work with fewer employees, and offering less funding for tools and other resources; 2. Offering less opportunities for growth and promotion due to a slow increase in hiring and little employee movement; 3. Limiting available investments to revenue generation rather than improving internal conditions; 4. Working to capture immediate revenues at the expense of long-term strategies with potentially higher returns; 5. Fixating on increasing stock prices, which puts pressure on employees to do whatever it takes to meet or exceed the EPS communicated to market analysts; and Today’s growth is marked by the anemic but, nevertheless, increasing GDP and the recovering stock market; however, our behavior inside organizations is tentative and reflective of the recent hard times of the “Great Recession.” There is evidence of the lasting effects of scarcity. This is manifested in the conversations in boardrooms as investments and market performance are discussed, and around water coolers as employees lament the yet again minimal raises and lack of promotion opportunities. Other conversations point to the short sightedness of product and service strategies and the lack of investments to make work easier and more efficient. Scarcity appears to be a force that affects individuals and organizations guiding their narrative and resulting behaviors. It is hard to predict how long the scarcity of the “Great Recession” will affect us and our organizations, after all, it took decades and a World War to make our grandparents and parents snap out of the scarcity of the Great Depression.

Back in the day, most people learned how to manage their money through the school of hard knocks. That’s still true. But today’s young people face much larger, higher-stakes financial decisions at a younger age than their elders. For example, in 2018, the average college graduate faced $29,200 in student loan debt — the highest it’s ever been — according to a new report by the Institute for College Access & Success. And recent data from TransUnion shows that more than half of people ages 18 to 24 who have a credit card are carrying a balance on it. It’s clear teens need help making sound money decisions. One financial literacy program pairs teens with volunteer mentors to create hands-on financial learning. Money Matters: Make It Count was created in collaboration between Boys & Girls Clubs of America and Charles Schwab Foundation and is celebrating its 15th anniversary. Young people have gone through the program a million times since it started. Tamara Johnson served as a former Money Matters ambassador in Santa Fe. Johnson, who earned college scholarships and now practices family law, credits the program for giving her the foundation she needed to take on the responsibilities of adulthood. As a result, she’s debt free! “While I was an ambassador, so many adults told me how they wished they had started as early as I did in getting the money thing right,” said Johnson. “I would tell any teenager if they have the opportunity to take part in Money Matters or any other financial literacy program, take it. You’ll learn simple steps for saving, and your future self will thank you!” To help and inspire other teens to take steps to master financial literacy, Johnson offers her top five tips. - Respect the power of credit: You know how teachers, parents and other adults are always saying a bad decision can haunt you for years? That’s definitely true with credit. Bad money habits, like maxing out your credit card or making late payments, will show on your credit report almost right away. Then, it takes seven years before that disappears from your credit history. That can mean paying higher interest rates, being turned down for a loan, or not getting hired for a job you want. The good news is, being smart with money helps you avoid the credit trap. These remaining tips will show you how. - Be a saver — it’s never too early to start: What’s the best way to avoid using credit cards? Build a savings cushion, so when unexpected costs come up, there will be no need for a credit card. Starting now, any time money comes in — your paycheck, babysitting money, birthday cash from grandma — the very first thing you should do is pay yourself. Tuck some of it away, and watch those dollars add up. Someday, that money will be there for you when it's time to buy a car, go to college or rent an apartment. The pride you'll feel from watching your savings grow is priceless! - Never start the month without a plan: There's no substitute for planning. At the start of the month, sit down and list everything you will need to pay for in the coming weeks. Think about how much you have, what your paycheck will be, and then, do the math to make sure you have enough to cover it. This doesn't have to be complicated, just a simple list you keep on your phone so it’s always with you. Then, check in with your monthly plan once every week or so, and make sure everything’s on track. - Sort out needs vs. wants: Here’s the tough part. Your favorite band is coming to town, and all your friends want to catch the show. But your phone needs a new battery, your car has a flat tire and insurance is due. It's so tempting to cave and raid your savings account so you can do it all. These choices are never fun, and this won’t be the last time it happens. But remember, your spending plan will be meaningless if you don’t stick to it. So yes, there will be times when you’ll need the conviction to say no. That said, make room in your budget for the fun things, so you can feel great about times like these when you want to say yes. - Stretch your dollars: You work hard for your money. Let it work hard for you! Before you buy, shop around. Compare prices online, wait for a sale or download a digital coupon. Or if you’re grabbing lunch, skip the beverage and ask for ice water; then put that money into savings. Smart money moves like these can leave you with a little extra and make it easier to keep it all in balance: your needs, wants and savings. When you stay in control of your spending, it’s that much easier to avoid debt. Creating good financial habits early in life can help you achieve your goals. Follow these tips, and you'll be well on your way. Parents or teens who'd like to learn more about the program should check with their local Boys & Girls Club, or visit the Money Matters page on BGCA.org and take advantage of this resource.

COINage Magazine|June - July 2020 In 1851 and 1852 the mints struck large numbers of trimes (three-cent silver pieces) because of the ongoing coin shortage. STACK’S BOWERS For the more than 200 years that the United States mints have been in operation, there have been good and bad years for coinage. These fluctuations have directly affected those dedicated collectors who avidly seek out coins of this country, especially where the output was low in the difficult years. In the early days of the Philadelphi Mint, especially during the 1790s, coinage was very erratic, as the striking of gold and silver coins depended on bullion brought to the Mint by private depositors. The situation did improve somewhat after 1797 when the Bank of the United States was persuaded to make regular deposits of the precious metals; at first, these were primarily foreign silver coins, especially those of France. In time, however, gold was also sent to the Mint in reasonable amounts. Some of the mintages, such as for the minor silver coins in 1796 and 1797, are very small and costly to modern day collectors wishing to add to their collections. It is sometimes said that these small coinages were the result of not enough bullion coming to the Mint, but this is only partially correct. The lack of bullion, especially silver, meant that Mint Director Elias Boudinot had two choices. The first was to lay off skilled workers until the deposits got better. The second was to create a make-work situation in which small coinages, which required time and effort, were the order of the day; in 1796 and 1797, the make-work answer enabled the director to keep skilled workers on hand until bullion deposits increased. Large numbers of copper-nickel coins were struck beginning in 1965 to replace the silver coins taken from circulation by the public It is also said that the United States Mint at Philadelphia, in its earlier days, was not able to supply sufficient and gold coins for the public to use in the marketplace. This fact is again partly correct in that the entire output of the Philadelphia Mint, even including cents and half cents of copper, did not come close to providing a strong circulating medium for the country. We also find numerous instances of small coinages, such as the 1815 half dollar in which less than 50,000 were struck. The charge of not enough coins coming from the Mint is true, but again not quite the whole story. In reality, the American marketplace was relatively well supplied with silver and copper coins, the latter, of course, coming from the Mint. The bulk of the silver coins in daily use, however, were not made in the United States but were rather Spanish coins coming from mints in the Americas, especially Mexico City, Lima, and Potosi. After 1821 most of the silver came from newly independent Mexico. Some idea of the amount of Spanish and Mexican silver in daily use can be seen in a study done in New York City in the late 1830s. At that time, United States coins made up only about one-sixth of the silver in daily use, the rest being foreign. Not all of the foreign was Spanish as there was a small amount of French silver in everyday use, mostly five-franc pieces. Because of this surplus of foreign silver in the marketplace, there was less pressure on the Philadelphia and New Orleans Mints for heavy coinages of silver. The New Orleans Mint coined both silver and gold after it opened for coinage in 1838. Due to the coin shortage, cents of 1851 were rolled up in bundles of 10,25, or 50 pieces to pass as dimes, quarters or half dollars. GOLDBERG COINS & COLLECTIBLES The generally well-stocked marketplace, in terms of available coinage, came crashing to a halt in the late 1840s, the United States now facing its first real monetary problem. The discovery of gold in California in early 1848 and the large quantities found there led to an abundance of gold in the marketplace. The discovery of gold, in turn, meant that silver would rise in value to the point that a half dollar, for example, now contained about 52 cents worth of silver. You can read up to 3 premium stories before you subscribe to Magzter GOLD Log in, if you are already a subscriber Get unlimited access to thousands of curated premium stories and 5,000+ magazines READ THE ENTIRE ISSUE June - July 2020

MONEY BASICS for architects “If you can actually count your money, then you are not really a rich man.” - J. Paul Getty, American industrialist One of the key factors to measure the success of your architectural practice is the ‘Financial temperature’ of your firm. To maintain normal financial temperature of the firm, it is important to have basic insights of finances so that firm can manage to achieve its goals. The financial strength of your company is based on 5 basic accounting concepts. These concepts are the core of any business finance. They are: Income / Expense Arthur Sullivan describes in his book ‘Economics: Principles in action’ that “assets represent the value of ownership that can be converted into cash”. It is an economic resource. It can also be understood as the “possessions which are tangible or intangible in nature which can be increased.” We can understand assets better when we look at its different forms. Assets are mostly categorized as: Cash: Money that a firm can count in the form of currency. It is the most liquid or handy money available to the firm. Bank deposits: Banks are authorized institutions to manage money. The firm keeps its money in the current account (a/c). Individual’s money is kept in saving a/c. Surplus money can also be invested in fixed deposit a/c to earn more interest.This is a second most liquid form of assets. Stock/Share: Often, surplus money is invested in the shares. By trading these shares, you can generate some immediate cash. But it is important to understand and accept that the trading of stocks/shares is a risky proposition and a business in itself. Thus, sufficient knowledge and understanding of the stock industry is required before you step into this venture. Mutual fund: Mutual fund is also an investment in shares. The difference here is that your shares are managed by recognized financial institutions. You can read about nine basic concepts associate with mutual funds here. Foreign exchange: The practice of currency trading is also commonly referred to as foreign exchange, Forex or FX. Every country has its own set of rules for trading in Forex. This is similar to stock market where return on investment is not guaranteed due to its speculative nature. Movable and immovable assets: Most likely, this is where your major block of assets will be lying. Immovable asset is an asset that cannot be moved without destroying or altering it. For example, an estate or a house is immovable assets. Movable assets are those which can be transferred from one place to the other without any damage or alterations. For example, stocks, cash, furniture, vehicles, office equipment, jewellery, etc. Intangible assets: This is not reflected in the account statement, but you build it significantly if you understand the importance of it. By and large, intangible assets cover goodwill, patent, franchise, copyright, etc. No goodwill can be mentioned in the account statement and can turn into salable assets at the time of settlement. Additionally, assets can also be categorized as: Fixed assets: It is a term applied in accounting for assets that cannot easily be converted into cash. For example, furniture and equipment, property and buildings, vehicles, etc. Current assets: These are assets available to the owner as a prompt source of money. For example, cash on hand, fees receivable, pre-paid expenses, insurance, bank deposits etc. Financial obligation is an obligation or an entity that you owe to others, For example, car loan, bank loans or borrowings from your relatives, etc. This is the amount which you are legally required to pay back in installments or as per agreed terms and conditions. Liabilities come in different varieties. For example: Notes payable (a written promise to pay a specific sum of money), Interest payable, Sales Payable, Salaries payable, Unclaimed dividend, Long/short term loans, etc. On a balance sheet, liabilities may be described in two categories: Current liabilities: these liabilities are short-term (which may be needed to be paid back within a year). They usually include payable such as salaries, bills, taxes, account payables, portions of long-term bonds to be paid this year, short-term obligations (e.g. From purchase of equipment). Long-term liabilities: these liabilities may be expected to be liquidated after one or more years. They usually include long-term bonds, notes payable, long-term leases, pension obligations, long-term product warranties, and so on. On a balance sheet, there are two sides - one of the assets (what you have) and the other for Liabilities (who owns it). Assets are on the left and Liabilities are on right. You can learn more about creating the balance sheet here. Equity is the value of the firm’s assets, generally called ‘Net Worth’. The meaning depends on the context. For an architectural business, it is the amount that owners have contributed + the retained earnings/losses. Equity (net worth) = Assets - Liabilities In general, it can be understood as the sum of all assets after the debts associated with those assets are paid off. You can see more about equity and its relations to the balance sheet here. 4. INCOME & EXPENSE Income is also called Revenue. Gross income is generated from project fees, any other joint venture, dividend, royalties, etc. Here it is important to understand the distinction between receipt and income. “Receipt” means total cash (money) received after the sale of a particular service or asset and is usually a one time in nature. “Income” means total money received against one’s job performance/investment and is recurring in nature. Net income = Gross income - Expenses Expenses are usually categorized largely into two types: Direct expense: for an architectural firm, these are the costs you incur for the production of your projects. For example, travel, printing, salary of project staff members, equipment maintenance, etc. Indirect expenses: These are the costs that a firm incurs but are not directly associated with your projects. For example, insurance, staff training, overheads, accounting and legal services, office rent, etc. Income and expense statement also widely known as profit/loss statement is important because it shows the profitability of a company. The format may vary depending on the size and Profit and loss may also be computed under certain standard rules laid down by the direct tax act. The income/expense statement along with the balance sheet can also be used to monitor several financial ratios. These ratios indicate the financial status of the company in relation to other factors. You can learn more about these financial ratios here. 5. Accounting methods There are two methods of maintaining accounts transaction: Cash basis: a mode of accounting where income and expenditure is recorded when they are actually realized or paid. Most individual and professionals start as cash basis as this method is a lot simpler and easy to use for a start-up firm. However, for management purpose and project wise accounting many firms maintain accounts on accrual basis also. Cash basis is simple method and you pay taxes on actual transactions. But it doesn't give a clear financial picture. Accrual basis: A method of keeping accounting records in which revenue is recognized as having been earned when services are performed and expenses are recognized when incurred, without regard to when cash payments are received or made. It’s also called mercantile basis of system. The accrual method is required if your business’s annual sale is very high and your company is structured as a corporation. More information about different aspects of accounting can be found at www.accountingcoach.com << Back to Financial Planning for Architects

As much as prospective buyers would appreciate living in states with no property tax, there’s simply no way of doing so. There isn’t a single state that doesn’t subject property owners to property taxes. The funds derived from levying property taxes on homeowners are integral to each and every state’s infrastructure. However, not all states coincide with huge property taxes. In fact, some states seem to go out of their way to make living within their borders as easy and economically friendly as possible. As a result, homeowners in a handful of states are awarded fewer costs than their more expensive counterparts. If you are interested in learning which states have the best property tax rates, or simply want to understand what property taxes are, please reference the following. While one of the most misunderstood factors associated with homeownership, it’s absolutely imperative for prospective buyers to understand local property tax rates. In order to truly understand property taxes, however, buyers must first understand why they are paying them in the first place. For better or for worse, property taxes serve as a primary source of state funding. Most states rely on the money they bring in from property taxes to fund their infrastructure. Local municipalities use the money they receive from property taxes to fund a number of projects: education, roads, parks and recreational activities, public transportation, and payroll for municipal employees. Most cities rely on the money brought in from property taxes to pay police, firefighters, and their local public works department. That is an important distinction to make: While most people may not be too fond of the idea of paying property taxes, the money is going to good use. A lot of the money is returned to the community from which it came, which begs the question: How do local municipalities decide how much to charge in property taxes? The tax rate, otherwise known as the millage or mill rate, is entirely dependent on local authorities. Local tax authorities are responsible for determining the rate by which homes in their jurisdiction are taxed. Property tax rates take several factors into consideration, but it’s quite common for tax assessors to reverse engineer a rate they believe to be fair. That said, the powers that be will typically first identify how much they need to cover local services and then proceed to apply the property tax rate accordingly. More specifically, the rate is then applied to the home’s most recent appraised value. [ Do you control your finances or are your finances controlling you? Find out how real estate investing can put you on the path toward financial independence. Register to attend a FREE real estate class, upcoming in your area. ] In the event prospective homeowners are trying to determine the true cost of living in a given neighborhood, property tax rates are far from the only costs that need to be taken into consideration. If for nothing else, property taxes aren’t the only variable; everything is relative. While some states have become synonymous with formidable property tax rates, they have found other ways to ease the burden. Texas, for example, is known for having abnormally high property taxes, but The Lone Star State has compensated for relatively high rates by getting rid of income tax. A great deal of the state’s funding is dependent upon its property taxes, which is why its able to get away with not having an income tax. Therefore, Texas’ high property tax rate isn’t as much of a burden as many people would assume. While the current tax rate appears high, the state has found out ways to make things easier on its residents. Unfortunately, not all states operate the same. Not unlike how some states have gone through great lengths to save people money, others have gone the opposite direction. Both New Jersey and Illinois, for example, impose high taxes across the board. As a result, the cost of living is significantly heightened. When all is said and done, property taxes are an important expense to consider, but they are just one piece of the puzzle. In reality, property taxes are merely relative to every other expense imposed by a state. It’s not until the rates are placed in the same context as the remaining taxes imposed by a respective state that the true impact of property taxes may be felt. Everyone is aware of how property taxes vary dramatically from state to state, but fewer are aware that the differences translate to a county level. Within each state, property taxes will also vary from county to county. Local municipalities are responsible for imposing their own property tax rate on the houses within their jurisdiction. There is, however, one constant: the amount of property tax levied on a homeowner is directly correlated to a percentage of the home’s assessed value. You see, each county will determine their own property tax rate, which is then applied to the home’s assessed value. For example, a $130,500 home in a county with a tax rate of 0.40% will incur approximately $522 in property taxes each year ($130,500 x 0.40). The owner of a $200,000 property in the same county will be responsible for paying about $800 ($200,000 x 0.40). As you can see, the higher the median home value in a given county, the higher the property tax will be. To be perfectly clear, there are no states completely void of property taxes. Every single state across the country subjects homeowners to at least some degree of property taxation; there is no escaping them. It is worth noting, however, that the degree to which property owners are exposed to property taxes varies from state to state. Depending on the location of a respective property, it is entirely possible for the incurred taxes to prove either modest or monumental. Whereas some state property taxes may only serve as an inconvenience, others may rival that of the home’s mortgage payments. As a result, it’s important for prospective homeowners to understand exactly what they are getting into before following through with a purchase. Each state across the United States offers a unique array of benefits in order to increase net migration. As a result, it’s entirely possible to live in a state where income or sales taxes are nonexistent. Property taxes, on the other hand, are unavoidable. No matter where someone chooses to call home, they’ll have to pay property taxes. That said, there’s no reason someone couldn’t choose to live in a state with the lowest property tax possible. If you are looking for the states with the lowest property taxes, look no further. Here’s a list of the states where homeowners pay some of the least in property taxes (relative to the home’s assessed value): Average State Property Tax Rate (Relative To Assessed Home Value): 0.529% Median Property Taxes Paid: $1,274 Median Home Value (according To Zillow): $236,400 Average State Property Tax Rate (Relative To Assessed Home Value): 0.619% Median Property Taxes Paid: $721 Median Home Value (according To Zillow): $128,400 Average State Property Tax Rate (Relative To Assessed Home Value): 0.574% Median Property Taxes Paid: $821 Median Home Value (according To Zillow): $169,800 Average State Property Tax Rate (Relative To Assessed Home Value): 0.589% Median Property Taxes Paid: $629 Median Home Value (according To Zillow): $98,300 Average State Property Tax Rate (Relative To Assessed Home Value): 0.278% Median Property Taxes Paid: $1,459 Median Home Value (according To Zillow): $616,600 Average State Property Tax Rate (Relative To Assessed Home Value): 0.479% Median Property Taxes Paid: $750 Median Home Value (according To Zillow): $147,200 Average State Property Tax Rate (Relative To Assessed Home Value): 0.435% Median Property Taxes Paid: $550 Median Home Value (according To Zillow): $133,800 While homeowners would certainly appreciate living in states with no property tax, there are simply no options. Every state levies property taxes to one degree or another. That said, it’s entirely possible to live in a state where property taxes aren’t as much of a burden. While some states do, in fact, subject homeowners to lofty property taxes, others are a lot easier to manage. Some states even go out of their way to lower property taxes to make living there more attractive. As a result, prospective homeowners may be able to lower their annual costs by living in the right places.

Revenues of this tiny island have traditionally come from exports of phosphates, now significantly depleted. an australian company in 2005 entered into an agreement intended to exploit remaining supplies. few other resources exist with most necessities being imported, mainly from australia, its former occupier and later major source of support. the rehabilitation of mined land and the replacement of income from phosphates are serious long-term problems. in anticipation of the exhaustion of nauru's phosphate deposits, substantial amounts of phosphate income were invested in trust funds to help cushion the transition and provide for nauru's economic future. as a result of heavy spending from the trust funds, the government faces virtual bankruptcy. to cut costs the government has frozen wages and reduced overstaffed public service departments. in 2005, the deterioration in housing, hospitals, and other capital plant continued, and the cost to australia of keeping the government and economy afloat continued to climb. few comprehensive statistics on the nauru economy exist, with estimates of nauru's gdp varying widely. Limited natural fresh water resources, roof storage tanks collect rainwater, but mostly dependent on a single, aging desalination plant; intensive phosphate mining during the past 90 years - mainly by a uk, australia, and nz consortium - has left the central 90% of nauru a wasteland and threatens limited remaining land resources 13,770 (july 2008 est.) Oceania, island in the south pacific ocean, south of the marshall islands Total: 21 sq km land: 21 sq km water: 0 sq km About 0.1 times the size of washington, dc Conventional long form: republic of nauru conventional short form: nauru local long form: republic of nauru local short form: nauru former: pleasant island No official capital; government offices in yaren district time difference: utc+12 (17 hours ahead of washington, dc during standard time)

Today, the falling technology costs have pressed the price of renewable energy below coal in India, where coal was a major source of electricity generation. Many reports have showcased that the coal-fired power plants generate electricity that is costlier than the cost of solar energy. The preference of solar energy over the conservative energy sources is not only a utility of the drive towards green energy and sustainability but also gets inclined by solar energy price, which further depends on the rooftop solar power plant cost. Solar energy and fossil fuels In terms of environmental effect, solar power is the most positive resource when compared to fossil fuels like coal. In terms of steadfast application, coal-fired power plants have some benefits. However, the eventual way to evaluate solar energy to fossil fuels is by cost-effectiveness, where solar has swiftly caught up all the attention with its non-renewable equivalents. The support from the Government in terms of subsidies plays a significant role in shaping the development prospects for solar power generation with renewable sources of power. However, matching the exact cost of numerous energy sources is not straightforward. Also, the newly launched solar and wind paired with 4-hour battery storage capacity systems are more cost-effective. They come without subsidy and are better when matched with new coal-fired plants. The advantages of solar power generation over coal Most of the people are already aware of the disadvantages which arise due to the use of coal. This scenario includes considerable pollution and the actuality that it is an insufficient resource that will ultimately run out with time. Solar is installed on a rooftop surface or ground mount and harnesses an already accessible resource – the sunlight. Solar is a source of green power and a non-pollutant, which is a critical advantage for any mass-energy source at scale. Besides, renewable resources are precise for use as they replenish and are not limited resources. They even do not lead to price volatility. By comparison, fossil fuel like coal needs the degradation of the earth in production. Many people may not be fully aware that fossil fuels not only generate greenhouse gas emissions but even the procedure of drilling further degrades and erodes the ground polluting the supply of water. How India has become the cheapest producer of solar energy India is becoming the most low-cost producer of solar energy through cost-effectively built solar power plants is a success story in itself. There are many significant reasons for making solar power plants cheaper than coal-fired power plants. The increasing growth of the sector can be credited to the following: Role of Indian Government When the National Solar Mission was introduced in the year 2010, the price of solar power was INR 17 per unit in contrast to the newest bid of INR 2.44 per unit. This has been made achievable by cut-throat tariff-based bidding that Solar Energy Corporation of India (SECI), State and Central Government has embarked on via tenders. Even the Ministry of New and Renewable Energy (MNRE) has promoted solar energy through diverse public awareness events and campaigns, enabling fast growth. Policies and Incentives Different subsidies and incentives provided by the Government and Jawaharlal Nehru National Solar Mission (JNNSM) since the year 2010 have been influential in the acceptance of solar energy. The top segments that have seen swift growth are the utility-scale and open access to solar farms coupled with the balanced growth of rooftop solar power plants in India. Government subsidies up to 30% for all rooftop solar projects played a critical role in expanding the rooftop solar market. One of the apparent reasons for the record low solar power cost of INR 2.44 was the uncertainty coupled with land acquisition. The land costs were totally erased from the project cost of huge size solar projects making solar power plants cheaper in India. Low Labour Costs India has the most economical cost of labor, enabling the solar sector to employ a large number of human resources resulting in rapid project completion at the lowest possible prices making solar power plants cheaper than coal-fired power plants. Setting-up of a solar plant needs just 20% to 30% high skilled labour, and the remaining are unskilled or semi-skilled resources, straightforwardly obtainable, and at reasonably priced costs. This price sensitivity has lent a hand to Indian solar power plants. The solar energy cost is determined by the overall evaluation of the rooftop solar power plant cost. The accessibility of vital components like solar panels, inverters, junction boxes is made at much lower prices than other countries, many times even from the same global vendors. So, the price sensitivity in India is one of the key reasons why India has achieved lower solar tariffs as matched to other nations. The other way the price sensitivity has assisted solar power plants is that once solar tariffs reduced below the grid electricity tariffs, there has been super speedy acceptance, which has further the economies of scale, steering the prices of solar power plants components still lower. The solar power plants in India are now half the price of coal, even though the Government has made functional the new tariffs on solar equipment. In the coming years, energy storage will play a vital role in making renewable energy a steady source of power and will trim down the landed cost of renewable power. With support in initiatives through the Indian Government, developers are getting the long-term vision in terms of the solar project pipeline and real value in taking on solar electricity. We can conclude that India is on edge to safeguard its renewable future.

‘Climate Change’ has undoubtedly been established as a real phenomenon and the global community has expressed its commitment to limit global warming up to 2 degree Celsius. ‘Sustainability’ has become an integral part of almost all contemporary governance, business, and academic discourses. The global population is expanding at a rate of 1.1% annually. UN projects the world population to grow up to over 11 billion by the end of this century. To satisfy the basic needs of this growing population, the world GDP needs to grow at around 3.5%. Reliable energy supply is the engine of GDP growth. Traditionally GDP growth has come at the cost of the natural resources that have led to the deterioration of ecosystem and climate change. ‘RCP 8.5’ scenario proposed by the experts projects global warming by up to 4 degree Celsius if current trends continue. Therefore, critical interventions are needed to address the challenge of sustaining the growing population and limiting GHG emissions. Why do we need to decouple economic growth & emissions? Conventionally economists believed in ‘Environmental Kuznets Curve’ which hypothesizes that initially environment degrades with economic growth, but beyond a critical point, the rate of degradation reverses with further economic growth. However, contemporary researchers have concluded that we are at the risk of crossing planetary boundaries even before the critical point of reversal of environmental degradation is reached. Considering these facts, decoupling of economic growth and environmental pressures is progressively becoming the area of interest of academicians and policymakers. Initially, resource efficiency was thought of as the decoupling strategy. It has been observed that resource efficiency is associated with the ‘rebound phenomenon’ that is increasing in consumption proportionate to the efficiency achieved. Factoring-in the ‘rebound phenomenon’ experts have advocated structural interventions. One such intervention is changing the current energy-mix. The average CO2 emission factor for the coal-fired power plant is around 0.998 Kg/KWh, while that for hydropower is 0.015 Kg/kWh. Operating emission factor for renewable energy (wind, solar, etc.) is zero. Thus, increasing the share of renewables into the energy mix has the substantial potential of reducing GHG emission. As per CO2 Baseline Database 2018 of Central Electricity Authority India, average grid emission factor in 2016-17 was 0.82. To achieve its NDC, the Indian government has revised its renewable energy target at 227 GW by 2022. Of this 115 GW is expected to be contributed by solar energy. As per the Report on India’s Electricity Roadmap 2030 by NITI Aayog, India’s solar energy potential is over 10,000 GW. In light of these facts, it can be asserted that the solar energy solely can suffice the increasing electricity demand. How to do it Rooftop Solar is one of the most cost-effective interventions to change energy-mix. As per a report by the Institute of Energy Economics and Financial Analysis (IEEFA), CAGR in rooftop segment has been around 116% during the 2012-18 period. Of this, around 70% market has been driven by commercial and industrial consumers. Despite such a high growth rate, the rooftop solar potential remains grossly under-utilized. Various factors that would play an instrumental role in harnessing rooftop solar potential are the cost of electricity, net-metering policies, corporate social responsibility, and consumer awareness. In the residential segment, government subsidy is expected to play a significant role. One of the major challenges being faced by industrial and commercial consumers is the upfront capital required for the installation of rooftop solar. To overcome it, Renewable Energy Service Company (RESCO) model has emerged. In this model, the energy service company owns the assets and is responsible for O&M. The consumers are supposed to pay a mutually agreed tariff that covers the capital repayment requirement and the cost of providing for maintenance and repairs. This tariff is always less than grid-tariff. RESCO model is expected to enhance the acceptability of rooftop solar thereby reducing the carbon footprint of energy consumption by decoupling economic growth and environmental degradation. Also, the cheaper rate of electricity will reduce the cost incurred on utilities thereby increase profitability. Challenges of Rooftop Solar and how to overcome them Certain challenges such as diurnal and seasonal fluctuations and end-of-life fate of solar panels are associated with the use of rooftop solar energy. The former one can be mitigated by continuing reliance on grid electricity while later needs further R&D for eco-friendly disposal of solar panels to post useful life. Rationalizing rooftop solar tariff remains the major business-model challenge. To overcome it, complex statistical and financial modeling is needed. Various RESCO companies are striving hard to arrive at a rational tariff rate that would be a win-win scenario for the service provider and the consumers. The emergence of various green financing instruments such as green bonds has the potential to reduce the cost of capital thereby lowering the tariff rates. The rooftop solar industry is still in infancy and has a long way to go. However, it can not be denied that large-scale adoption of rooftop solar will help in the effective decoupling of economic growth and environmental degradation. All it needs is favourable government policies and socio-economics. Mittal, M. L., Sharma, C., & Singh, R. (2012, August). Estimates of emissions from coal-fired thermal power plants in India. In 2012 International emission inventory conference (pp. 13-16). Gagnon, L., & van de Vate, J. F. (1997). Greenhouse gas emissions from hydropower: the state of research in 1996. Energy Policy, 25(1), 7-13.

Investing in Stocks: A Beginner’s Guide Contributing is an approach to put aside cash while you are occupied with life and have that cash work for you so you can completely receive the benefits of your work later on. Contributing is a way to a more joyful consummation. Incredible speculator Warren Buffett characterizes contributing as “… the way toward spreading out cash presently to get more cash in the future.”1 The objective of contributing is to given your cash something to do in at least one sorts of venture vehicles with expectations of developing your cash after some time. Suppose that you have $1,000 saved, and you’re prepared to enter the universe of contributing. Or on the other hand possibly you just have $10 extra seven days, and you’d prefer to get into contributing. In this article, we’ll walk you through beginning as a financial specialist and tell you the best way to augment your profits while limiting your expenses. Contributing is characterized as the demonstration of submitting cash or money to an undertaking with the desire for acquiring an extra pay or benefit. In contrast to expending, contributing reserves cash for the future, trusting that it will develop after some time.Contributing, nonetheless, additionally accompanies the hazard for misfortunes.Putting resources into the financial exchange is the most widely recognized path for tenderfoots to pick up venture understanding. What Kind of Investor Are You? Before you submit your cash, you have to address the inquiry, what sort of financial specialist am I? When opening a money market fund, an online intermediary like Charles Schwab or Fidelity will get some information about your venture objectives and how much hazard you’re willing to take on. A few financial specialists need to take a functioning hand in dealing with their cash’s development, and some want to “set it and overlook it.” More “customary” online intermediaries, similar to the two referenced above, enable you to put resources into stocks, securities, trade exchanged assets (ETFs), file reserves and common assets. Specialists are either full-administration or markdown. Full-administration merchants, as the name suggests, give the full scope of customary business administrations, including budgetary guidance for retirement, social insurance and everything identified with cash. They generally just manage higher-total assets customers, and they can charge considerable expenses, including a percent of your exchanges, a percent of your advantages they oversee, and once in a while a yearly participation expense. It’s not unexpected to see least record sizes of $25,000 and up at full-administration businesses. In any case, conventional specialists legitimize their high expenses by offering guidance point by point to your needs. Rebate agents used to be the special case, yet now they’re the standard. Markdown online representatives give you devices to choose and put your very own exchanges, and a large number of them likewise offer a set-it-and-overlook it robo-warning help as well. As the space of monetary administrations has advanced in the 21st century, online representatives have included more highlights remembering instructive materials for their locales and portable applications. Moreover, in spite of the fact that there are various rebate specialists with no (or low) least store confinements, you might be looked with different limitations, and certain expenses are charged to accounts that don’t have a base store. This is something a financial specialist should consider on the off chance that the person in question needs to put resources into stocks. After the 2008 Financial Crisis, another type of speculation consultant was conceived: the robo-guide. Jon Stein and Eli Broverman of Betterment are frequently credited as the first in the space.2 Their central goal was to utilize innovation to bring down expenses for speculators and streamline venture guidance. Since Betterment propelled, other robo-first organizations have been established, and set up online intermediaries like Charles Schwab have included robo-like warning administrations. As indicated by a report by Charles Schwab, 58% of Americans state they will utilize some kind of robo-exhortation by 2025.3 If you need a calculation to settle on venture choices for you, including charge misfortune gathering and rebalancing, a robo-counsel might be for you. Also, as the achievement of list contributing has appeared, if your objective is long haul riches building, you may improve a robo-consultant. Contributing Through Your Employer In case you’re on a limited spending plan, attempt to contribute only one percent of your pay into the retirement plan accessible to you at work. Truly, you most likely won’t miss a commitment that little. Work-based retirement plans deduct your commitments from your check before charges are determined, which will make the commitment even less difficult. When you’re OK with a one percent commitment, perhaps you can build it as you get yearly raises. You won’t almost certainly miss the extra commitments. In the event that you have a 401(k) retirement account at work, you may as of now be putting resources into your future with allotments to common assets and even your own organization’s stock. Essentials to Open an Account Numerous money related organizations have least store necessities. At the end of the day, they won’t acknowledge your record application except if you store a specific measure of cash. A few firms won’t enable you to open a record with a total as little as $1,000. It pays to search around some before settling on where you need to open a record, and to look at our merchant audits. We list least stores at the highest point of each survey. A few firms don’t require least stores. Others may frequently bring down costs, such as exchanging charges and record the executives expenses, on the off chance that you have a parity over a specific limit. In any case, others may give a specific number of without commission exchanges for opening a record. Commissions and Fees As financial experts like to state, there’s no free lunch. In spite of the fact that as of late numerous specialists have been dashing to lower or dispense with commissions on exchanges, and ETFs offer file contributing to everybody who can exchange with a stripped down investment fund, all merchants need to profit from their clients somehow. As a rule, your merchant will charge a commission each time that you exchange stock, either through purchasing or selling. Exchanging charges extend from the low finish of $2 per exchange yet can be as high as $10 for some markdown dealers. A few representatives charge no exchange commissions by any means, however they compensate for it in different manners. There are no magnanimous associations running business administrations. Contingent upon how frequently you exchange, these charges can include and influence your productivity. Putting resources into stocks can be exorbitant in the event that you jump into and out of positions often, particularly with a modest quantity of cash accessible to contribute. Keep in mind, an exchange is a request to buy or sell partakes in one organization. On the off chance that you need to buy five distinct stocks simultaneously, this is viewed as five separate exchanges, and you will be charged for every one. Presently, envision that you choose to purchase the loads of those five organizations with your $1,000. To do this, you will acquire $50 in exchanging costs—accepting the charge is $10—which is identical to 5% of your $1,000. On the off chance that you were to completely contribute the $1,000, your record would be decreased to $950 in the wake of exchanging costs. This speaks to a 5% misfortune before your ventures even get an opportunity to acquire. Should you sell these five stocks, you would by and by bring about the expenses of the exchanges, which would be another $50. To make the full circle (purchasing and selling) on these five stocks would cost you $100, or 10% of your underlying store measure of $1,000. On the off chance that your ventures don’t win enough to cover this, you have lost cash by simply entering and leaving positions. In the event that you intend to exchange as often as possible, look at our rundown of agents for cost-cognizant brokers. Common Fund Loads (Fees) Other than the exchanging expense to buy a common reserve, there are other expense related with this sort of speculation. Shared assets are expertly overseen pools of speculator finances that put resources into an engaged way, for example, huge top U.S. stocks. There are numerous charges a financial specialist will acquire when putting resources into shared assets. One of the most significant charges to consider is the administration cost proportion (MER), which is charged by the supervisory crew every year, in view of the quantity of benefits in the store. The MER ranges from 0.05% to 0.7% every year and differs relying upon the sort of reserve. In any case, the higher the MER, the more it impacts the store’s general returns. You may see various deals charges called loads when you purchase shared assets. Some are front-end loads, however you will likewise observe no-heap, and back-end load reserves. Be certain you comprehend whether a store you are thinking about conveys a business load before getting it. Look at your merchant’s rundown of no-heap reserves, and no-exchange expense reserves on the off chance that you need to stay away from these additional charges. As far as the starting speculator, the shared store charges are really a favorable position comparative with the commissions on stocks. The purpose behind this is the expenses are the equivalent, paying little respect to the sum you contribute. Along these lines, as long as you meet the base prerequisite to open a record, you can contribute as meager as $50 or $100 every month in a shared reserve. The expression for this is called dollar cost averaging (DCA), and it very well may be an incredible method to begin contributing. Expand and Reduce Risks Broadening is viewed as the main free lunch in contributing. More or less, by putting resources into a scope of benefits, you decrease the danger of one speculation’s exhibition seriously harming the arrival of your general venture. You could consider it money related language for “don’t place all of your investments tied up on one place.” As far as enhancement, the best measure of trouble in doing this will originate from interests in stocks. As referenced before, the expenses of putting resources into countless stocks could be inconvenient to the portfolio. With a $1,000 store, it is almost difficult to have a well-enhanced portfolio, so know that you may need to put resources into a couple of organizations (and no more) in the first place. This will build your hazard. This is the place the significant advantage of shared assets or trade exchanged assets (ETFs) come into center. The two kinds of protections will in general have an enormous

A Quick Glance at Rethinking and Refining Business Thinking by Lawrence Jones In 2004, Roger Martin, dean of the Rotman School of Business at the University of Toronto published the ‘The Design of Business”. He proposes that competition is no longer “about creating dominance in scale-intensive industries, it’s about producing elegant, refined products and services in imagination-intensive industries” (p.7). Martin mentions that value creation in the 20th century was mainly defined by the conversion of heuristics to algorithms. Cherry (2016) explains that a heuristic is a mental shortcut that allows people to solve problems and make judgments quickly and efficiently. Generally speaking, it is a shortened decision-making time without constantly stopping to think about the next step. An algorithm is a process or set of rules to be followed in calculations or other problem-solving operations. Martin (2004) posits that business people need to become more like designers that are masters of heuristics rather than managers of algorithms (p.7). This may not work well for biotechnology scientists conducting laboratory research. However, this may suggest that in the 21st century, design skills and business skills are converging. Heuristics play important roles in both problem-solving and decision-making. This is the strategy to apply mental shortcuts when looking for a quick solution. A potential drawback to heuristics is that they can lead to cognitive biases. Martin (2004) elaborates and stresses that there are three major implications for the shift for today’s business people. The skill of design is the ability to apply the creativity, innovation and mastery necessary to convert the mystery to a heuristic (p.9). The second implication is that a new kind of business enterprise is needed to tackle mysteries and develop heuristics and that will require a substantial change in some of the fundamental ways we work (p. 9). The third implication is that we must change the focus of our thinking about design and business. The traditional business world is trying to figure out what designers do, how they do it, and how best to manage them (p.10). Unfortunately, as companies continue to struggle to adapt to the global competition and the rapid expansion of the service based economies, the global landscape is forcing business firms to pause and reconsider their business models and radically transform their capabilities. Algorithm. (2016). https://en.wikipedia.org/wiki/Algorithm Cherry, K. (2016). What Is a Heuristic and How Does It Work? https://www.verywell.com/what-is-a-heuristic-2795235 Martin, R. (2004). The design of business. Rotman Management, 5(1), 6-10.

In the last part, I have covered about physical assets which involve Real Estates, Commodities, and Collectibles. If you haven’t read that click this link to read it here https://www.mintpaisa.com/assets-you-should-be-aware-of-to-create-wealth/. Now let us move on to the Financial Assets. What is Financial Asset? Financial Asset is an intangible asset which has liquidity. Its value is defined by the contractual claim between the investor and borrower. Liquidity defines how quickly an asset can be sold or bought in the market. Assets like stocks have good liquidity in the secondary market like the stock market. Example of a financial asset is capital market products which include equity and debt. Equity and Debt in Easy Language Let us say you have a company whose value is 200 crores. You wanted to expand the company. For that, you want 100 crores. After proper valuation, you decided to collect that amount in the form of investment and debt. So you allocated 50% for investors and 50% for debt. During the investment roundup, 5 people invested 10 crores each. The remaining 50 crores were collected from the bank in the form of debt at an interest of 10% per annum. The main difference between an investor and the lender who gives money for debt is that the investors have ownership rights over the company while debt lenders can’t claim ownership rights. That means in the initial stage, 5 investors gave 10 crores each. After a couple of years if the value spiked to 200 crores then each investor get 20 crores each. But it is not the case with the bank. Since the bank gave for money in the form of debt, it will only get interest amount as agreed before. The investor has to bear more risk when compared to debt lender. The main reason is, since the investor is the owner, in case of bankruptcy he will loose all the money. But it is different for the one who gave money in the form of debt. In Bankruptcy case debt lenders have all the rights over the company assets. They can auction assets to collect their money back. Why it is Important to Know about financial assets? If you are unaware of these assets then you stick the old age form saving schemes like Fixed investments, Recurring Deposits, etc. Wealth creation with the interests given from the bank is just a big joke. Because those interest can’t even beat inflation then how can you think about creating wealth. But this is not the case with these assets.Whether they are physical assets or financial assets they have the capacity to create wealth depending on how best you can use them. How to Invest in Equity and Debt? If one wants to invest in equity, then they can buy the shares in the public listed companies through the stock market. There are more than 1300 companies in the Indian Stock Market. If you don’t have knowledge about investing then you can approach Mutual Funds where your money will be handled by a Fund Manager. But before investing through any mutual fund the investor should make decent research about the fund manager and his past background. Because, How can give your hard earned money to a guy without knowing his past performance. Not only that you have to be completely aware of in which type of mutual fund you are investing. Some will be close-ended and others are open-ended. I will make a separate article on this explaining in depth about types of mutual funds. If you want to invest in debt, you can do this by buying government debt bonds, Treasury bills or investing money in debt mutual fund schemes. These debt schemes can give you a fixed amount of interest for a fixed maturity period. Many people diversify their funds between gold, stocks and debt bonds. If something bad happens in one security then he can expect the other to balance this loss. - Equity assets like stocks give you rights of ownership in the company. - Debt assets like government bonds, corporate bonds or treasury bills pay you interest on the amount invested but do not provide ownership rights. - You can invest in equity in equity and debt directly or through mutual funds. - Financial assets have the capacity to compound your money which helps in wealth creation. - They can beat inflation easily and increase your invested money value in the

RQ3: What are the issues and challenges encounter by both paddy rice industry and farmers based on designated allocations? Rice has always been one of main commodities of Malaysian community and paddy rice industry also considered as the strategic industry which always gets special treatment by the government. Apart from that, rice production assists the individuals upto172, 000 paddy farmers in this country. With the several types of trade operate currently such as international trade, trade liberalization and trade import to compete, Malaysia must highly protect the domestic resource of the country which is rice otherwise this can lead to the problem of instability the rice prices in the market. One of the most common issues faced by paddy rice industry and farmers is the irrigation system. Irrigation plays significant role in assisting and improving the standard of these sectors which later it can transfer into the amount of money when the products are sold. So, it cannot deny that irrigation is also considered as a main part of these two sectors. Without having a proper management of irrigation, it would lead the impact on it as a whole. How the water supply can lead to a problem as a whole? It is because when the water supply is not in a good condition then people can migrate into industrial sector, this leads to the shortage of labor and land. So, it can see that there is a flow of farm labor into other sectors of economy, when there is higher wages provided. This scenario, therefore, may lead to the reduction in rice production, decreased in self-sufficiency level and increase in import. So, the implementation of irrigation system will help to preserve water and to increase the growth of plants or crops which later it can utilize further in the agricultural production. Currently, Malaysia has 932 irrigation schemes which covering about 413,700 operated throughout Malaysia including in Sabah for 20 irrigation schemes. Malaysia uses this for rice development in order to maintain the degree of self-sufficiency in rice production and to assist the lessen poverty among smallholder rice farmers. It is because if the government cannot manage the system properly, the famers or people who do agriculture in rural areas would turn their jobs into the industrial sector. Then this would create the shortage of labor and lack of the domestic production provided by farmers themselves. Therefore, it can see one of major issues concerning for paddy rice industry and farmers is about irrigation system. Previously, Malaysia had a long problem history of planting rice under the rain areas located along with the flood plains of river till the early 1900s which the large scale of irrigation systems were introduced. However, although the irrigation system associated with water resources mainly like river and rainfall, government still needs to proper manage it. It is because in Malaysia, from May to August are the dry months in which the water can be dropped. This can led to the agriculture drought. So, in order to ensure the continuously water supply, all the irrigation plans operated must be operational performance. For example, one of the largest irrigation assistance projects provided by government expenditure called “Muda Irrigation Scheme”. This project operates in the states of Kedah (specifically in Western) and Perlis in order to provide water for two crops of paddy per year in the area of 261,500 acres. During that time, there are 16,000 smallholder paddies farming families or 340,000 people under this project. As a result of implementing this assistance module, it was found that the income of paddy farmers under this project area is RM 2162.70 per month. The paddy rice also contributes more than 70% of the total income received. So, this shows the positive result of having such assistance system for the farmers in the rural areas. It is because they rely heavily on the paddy crops as the main source of income for their livelihoods which depended on the rice production. If they have less rice production, it will definitely effect to their family members. Although people in that particular area depend mostly on rice production, they also plant others that can consider to be resources of salary such as vegetable production, rental received based on the size of land and the monthly payment from children but, again, the main income lies from rice production. Therefore, from the illustration above, we can see that the farmers who are involved and being under the Muda irrigation system which given by the government is effective in improving the farmer incomes and to increase the individual standard of living. Apart from that, in order to develop the paddy farmer’s salaries, their farm also needed to be expanded and enhanced to gain more profits. Government also should ensure that there are markets which can support and encourage the paddy famers to be sold at the highest level otherwise the production would not transform anything in return Besides, another issue which requires the attention of government is the management the irrigation system towards the farms. How the government should provide this assistance to famers and what are factors that influence to the decision making. It is because there are connection between budget and other factors such as the size of farms, the different planting durations due to environmental factor, condition in soil and the canal. All these details should be examined very carefully otherwise the implementation of irrigation system would not be really effective. It can be a waste of resources if government does not really have a proper plan before making a decision. This is because each decision made is linked with the government budget. Hence, it is government responsibility to select irrigation schemes with a proper designed for rice cultivation. With this issue,

According to the calculations of the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA), the cost to the United States of defending the global oil supply is zero. This zero-cost estimate comes from the methodology used by the U.S. government budgets for national defense. Since it is difficult to assign a cost to the oil protection mission—and since the Department of Defense (DoD) would realize no savings if this mission were not pursued—EPA and NHTSA conclude that it is pointless to assign any value above zero for this activity. This approach fails to account for the large opportunity costs of protecting the global oil supply. To more accurately assess the military cost to the U.S. of protecting global oil supplies—and therefore understanding the military cost/benefit of the Fuel Economy Standards (FES) program—SAFE conducted an extensive review of the existing literature that analyzes the military cost of U.S. oil dependence. In addition, SAFE carried out a series of interviews with military members of its Energy Security Leadership Council (ESLC) as well as other leading experts in this field. SAFE’s analysis found: - At minimum, approximately $81 billion per year is spent by the U.S. military protecting global oil supplies. This is approximately 16 percent of recent DoD base budgets. Spread out over the 19.8 million barrels of oil consumed daily in the U.S. in 2017, the implicit subsidy for all petroleum consumers is approximately $11.25 per barrel of crude oil, or $0.28 per gallon. A more extensive estimate by two highly-regarded economists suggests the costs could be greater than $30 per barrel, or over $0.70 per gallon. - America’s dependence on oil as the primary transportation fuel has costs beyond those directly shown at the gas pump. SAFE and its ESLC strongly believe based on first hand experience that the military cost of oil dependence is substantially greater than zero, and argue that a cost of at least $0.28 per gallon should be used by EPA and NHTSA in their military cost/benefit analysis for the FES program. - Reducing oil use in the transportation sector allows for the possibility of shifting U.S. military priorities toward more critical strategic threats. “If we reduced our oil consumption by half, [the U.S. military] would act differently,” says ESLC member Admiral Dennis C. Blair, the former Director of National Intelligence and Commander in Chief of the U.S. Pacific Command. General Duncan McNabb, the former commander of the U.S. Transportation Command and also a member of SAFE’s ESLC stated: “If we can reduce our dependence on oil, we could reduce our presence in the Gulf and use the funds for other critical military priorities, like cybersecurity or hypersonic weapons. The same funds could support different security priorities. We would make different choices, that would make us safer and more secure.”

Stock is a share or percentage of ownership in a company. Owners are entitled to a share of the company’s assets and earnings. If you own and buy more, your ownership percentage increases. You can own 1 singe share, or 10%, 20% or even 100% of a company’s stock. The investment world is like most professions and they all like to have their own language. So, when you hear someone say the word equity, it is the same thing. When you hold a company’s stock, that means that you are a shareholder of the company and you own a little piece of everything the company owns. This is important because, if you know that your share of the company (no matter how small) represents buildings, manufacturing facilities, inventions, intellectual property and even part of the sales, it gets you thinking like an owner. Thinking like an owner is important because, sometimes prices decline, people get scared and sometimes they sell. But, if you think like an owner, and you know your company is healthy and growing, you can take advantage of price drops and buy more. Plain and simple, stock is a share in the ownership of a company. It represents a claim on the company’s assets and earnings. As you acquire more stock, your ownership stake in the company becomes greater. Whether you say shares, equity, or stock, it all means the same thing. People are funny. We like to have something we can touch and feel to represent an intangible idea like stock ownership. So, certificates were invented to go along with the invention of stock. It is usually an ornate certificate on heavy paper that looks very official and this piece of paper is your proof of ownership. Before computers were invented, shareholders would place their stock certificates in a leather folio called a portfolio. Today, the word portfolio is still used to represent a person’s stock holdings but it is held electronically and is referred to holding stock “in street name”. Being a shareholder of a public company makes you a silent partner in a company’s business. You don’t get to have a say in the day-to-day operations, but you can attend annual meetings and voice your opinion there. Being a silent partner is not entirely a bad thing. If you are a business owner, then you know how busy you can get just running your business. Imagine if you owned stock in 10 companies and you did have a say or the management called to ask your advice all the time. That could eat up all of your time! Being a shareholder lets you put extra money to work in other businesses, hopefully with competent management that, if successful, will grow the value of your shares. Last, as a shareholder, your liability is limited to what you invested in the company. You can lose everything you invested but you can’t lose more that you have invested. This material is provided as a courtesy and for educational purposes only. Please consult your investment professional, legal or tax advisor for specific information pertaining to your situation. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

Saving money is an art that everyone should adopt because it has a number of advantages for you and the people around you. The age old saying little drops of water makes an ocean is one thing that people that are good at saving adopt and it works wonders for them. They Are On The Lookout For Good Deals Being frugal is a big part of saving money. Good savers make use of coupons, hunt down the best deal, or research all possible options before buying. They think through each purchase and research alternatives like used options. They also compare competitor prices, look for coupons, and read reviews before making a decision on what to buy. They Make Adjustments Big life changes such as job layoffs, divorces, and illness which affect our budgets. Good savers adjust their spending to reflect their new earning or income status irrespective of how painful it is for them to acknowledge. Good Savers Start Immediately Good savers start early. A lot of good money savers were taught as children to put some away for a rainy day but even those who weren’t have learned to jump on an opportunity. As soon as they see they have an option, like a retirement savings plan through work, they take it, and avoid putting off financial decisions. They Have A Retirement Account There is a reason financial advisers repeat it. In truth, it’s all about your future. A good rule to follow when it comes to this is to put 10 percent of your paycheck each month straight into a retirement account. They Differentiate Their Wants And Needs One of the biggest lies the capitalist system sells us is that our wants are actually our needs. Good savers actually write down a list of their basic needs, their wants, and their big wishes. They Have A Budget They write out honest charts and spreadsheets that they regularly update and balance accordingly. The first clue you have that someone has a problem with money is when they can’t provide their monthly cash flow. You can’t save if you don’t even know how much money you have to begin with. They Use Cash Or Checks Good savers often tend to use physical types of money. Research shows you spend 20 percent more when using a credit or debit card because it makes purchasing feel less ‘painful’. Handing someone a wad of cash or writing out a check provides enough of a mental speed bump to slow down many impulse buys. They Prioritize Saving This may sound simple but it is one of the best habits of people that are good at saving. Before spending on anything else, they pay themselves first by putting savings into a retirement account or other self directed savings account. They Keep Track Of Little Things They don’t let go of small change. Little things can add up to big expenses quickly, before you even realize what’s happening. Good savers will write down in their check ledger or budget all their expenses, even the tiniest ones.

The education expenses have gradually become unbearable by most students due to the increase in the living standards. Most parents are unable to meet the expectations of their children who have passed well and are ready for the higher education. Due to the increase in the living standards, the banks have a system whereby students who have qualified for the entry to college or higher institution of learning can be able to be given a student loan whereby the student is required to return after finishing college or while studying. The student loans are the best financial support for that student who is unable to pay their fees and is capable of returning the money after learning.The importance of these student loans can be explained as follows; Benefits of student loans Easy To Access There are as many lenders as you can find who are ready to provide help to the needy students. The terms and conditions are very much flexible and the loans are approved without any worry or fear of the unknown. Since the student can easily access the loan, he or she is free to use the money provided to meet the expenses required at the college. The student can use the money to pay for the hostel, buy books, pay the admission fee and be able to purchase equipment which is used for the learning programs like the computers. Low Returning Rates The government has offered to give out loans to students who are ready to learn but do not have the finances for the lowest return rates. This is because the government is very much concerned about the future of the fewer fortune students who if given help can do something for the public. Helps In Building The future The student loan is provided to every student who s financially weak in terms of pursuing the higher studies. For these students to attain brighter future, banks and other financial institutions have come out to offer help. If you are a student who wants to persue your higher education and you do not know where to get help from, then visit your nearest bank or financial institution and get help from there. Let your future shine by getting your financial help from the lenders either public lenders or private lenders. Given To All Students Whether you are from which tribe, county, religion or clan, the student loan is offered to all students who are in need of financial support. It does not matter who you are or where you are coming from but what matters is that you are a student and you have clearly identified yourself to the lenders and that you need a financial help from them. Every needy student is entitled to a student loan in which he or she is required to return after some time to the lender. Do not sit at home just because your parents are unable to pay for your higher learning but take a step of going to the bank n try your luck.You may be among the few who will be chosen to be given the loan. Look at your future and let your vision of life come true. Entrepreneur article can provide you with all the information regarding the topic that you might need.

Machine learning: benefits to business Have you ever thought about how your mail inbox is so smart that it can filter Spams, label important mails or conversations and segregate Promotional, Social and Primary messages? There is complex algorithm in place for this kind of prediction and this algorithm comes under the wide umbrella of Machine Learning. Have you ever thought about how your mail inbox is so smart that it can filter Spams, label important emails or conversations and segregate Promotional, Social and Primary messages? There is a complex algorithm in place for this kind of prediction and this algorithm comes under the wide umbrella of Machine Learning. The formula looks at the words in the subject line, the links included in the mail and/or patterns in the recipient's list. Now, this method is definitely helping the business of email providers and such predictive, as well as prescriptive algorithms, can help all kinds of businesses. But first, let’s define what exactly is Machine Learning (ML)… What is Machine Learning? Simply put, ML is all about understanding mostly hidden, data and statistics and then mining meaningful insights from this raw dataset. The analytical method that uses algorithms can help solve intricate data-rich business problems. Moreover, ML models are pretty adaptive in the way they continuously keep learning as when new data is introduced. This also makes them increasingly accurate in their predictions the longer they operate. As far as businesses go ML algorithms driven by new computing technologies can help enhance business scalability and improve business operations. Combined with artificial intelligence and business analytics, ML can be a solution to a variety of business complexities. Today, ML models are being used to predict everything from spikes in web traffics and hardware failures to traffic patterns, outbreaks of disease and stocks and commodities. Benefits to Business 1. Predict customer behavior: Machine Learning is being used by companies all over the world to predict customer behavior and covert the predictive insights into prescriptive insights to increase customer base or offer them better services. By looking at purchasing patterns and browsing through purchase histories, retail companies can offer the best customized product or service to individual customers and improve demand forecasts. This gets us to the next point… 2. Product Recommendations: In e-commerce, ML algorithms can be used to motivate product purchase. Matching with a large product inventory, ML can be used to identify hidden patterns and group similar things together. These products can then be suggested to customers. 3. Improving marketing strategy: ML can churn massive amount of data in real-time to make it more relevant and useful. The data received from customer behavior analysis can be used to make appropriate changes to a company’s marketing and sales strategy involving upselling as well as cross-selling. ML models equipped with image recognition software in retail companies can be extended to customers so that they can find the right product from across a scanned inventory of thousands of products. Moreover, record sales can be reached via recommendation engine deployment and real-time targeted advertising can also be generated on websites. 4. Data Entry Assistance: Predictive modeling and machine learning algorithms can help streamline a company’s documentation process eradicating the risks involved with manual data entry. The formula can be used to automate data entry process and eventually let the skilled resources focus on important and creative tasks. 5. Financial analysis: Fraud detection proves to be a major hindrance in the finance sector today. Companies involve a huge skilled team of humans to find frauds in their company and their process is not just costly but also time-consuming. ML can help not just find but also predict fraud in a large volume of transactions by applying cognitive computing technologies to raw data. In the monetary portfolio, ML can also help in risk management, investment predictions, improve customer service and deploy digital assistants, loan management and security measures among other things. 6. Medical prediction and treatment: The healthcare sector is like goldmine of data and more the data better the machine learning model. If applied well in the pharma and medicine sector ML could lead to better diagnosis of diseases, personalized treatment, improved efficiency of research and clinical trials, smart health records, outbreak prediction and better control measures. 7. Detect network intrusions: Besides, predicting complex customer behaviors, data mining can also be used to predict patterns in network intrusions and accordingly eliminating them. An intrusion detection systems screens the network traffic while looking for any malicious activity in the form of an attack or unauthorized access. Analysis of this traffic can bring out patterns to be better equipped in the future to catch hold of the intrusions. Since they will be based on analysis, these detections will be more accurate and speedy. Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.

Property inspections take valuable time and can be risky for the people involved. The insurance industry is embracing drones as a low-risk, technically sophisticated alternative. Are drones coming to the skies near you? Three in ten UK workplace fatalities involve a fall from a height, such as a worker slipping from a ladder. Around 40 people die in this way in the UK each year. It makes sense to use all available strategies to reduce the need for workers to climb ladders – which is where insurance drones enter the scene. Drones, also known as unmanned aerial vehicles (UAVs) are small aircraft that can fly and hover around structures. They take high-resolution photographs and make aerial surveys, providing insurers with information about building condition. When an insurer might use a drone Potentially unsafe structures are a prime example of how a UAV can assist insurers. If a building is damaged by fire, part collapse or some other structural issue, it may not be safe for a human to carry out an inspection. Using a drone, the site can be surveyed without risking human safety. There are also savings to be made by using a drone. Inspecting a property can take a considerable length of time. The average is one to two hours but for large or complex buildings this can be much longer. Drones can capture data that human inspectors cannot: close-ups of the tenth story of a building, a mosaic photo showing an entire roof, or videos showing damage in granular detail. Drones can also be used in combination with sophisticated thermal imaging equipment to reveal water damage, or laser measuring units (LIDAR), which provides detailed building models showing movement after flooding. This makes damage assessments more detailed and accurate. Why UAVs make happier customers A drone controlled from the ground by the inspector can do the job around ten times faster, zooming in and recording key features. The time saving is even greater for commercial and tall buildings. Quicker inspections translate into faster processing of claims and more satisfied customers. In times of high demand, such as the aftermath of flooding, the use of UAVs could make a significant difference to claims management. Delays in assessing claims cause additional distress to customers already in difficult circumstances. More drones are coming to our skies For years now, drones have been associated with military activity. Surveillance and air strikes in hostile regions can be carried out using the technology with minimal risk to military personnel. However, drone usage is now extending from the defence industry into insurance and beyond. Amazon is partnering with the Civil Aviation Authority to test automated delivery drones, which could be a game-changer for ecommerce. UAVs can be deployed in almost every area of human activity. Easyjet already uses drones to carry out safety inspections of its aircraft; agribusiness is investing in the technology to monitor and manage crops and livestock. Network Rail’s ORBIS project will use drones to create a 3D digitised map of the entire UK rail network, helping to analyse maintenance work and field worker distribution.

The shift to using solar energy is becoming a new phenomenon that is catching on very quickly. The installation of a solar energy generation system allows for the energy of the sun being turned into usable electricity that can further be stored. Given all of this, it can be argued that the most important part of the system is the solar panel. It is through that the energy conversion is made possible and ultimately, the level of independence that is available to consumers of solar energy is made available. Hence, it is important to choose the best quality solar panels for your needs. What is the cost of a solar panel? To determine the cost of various factors have to be taken into consideration. Of course, the price is also greatly influenced by the kind of subsidiaries set in place for use of renewable energy by the government for the promotion of alternative energy sources. There is generally priced based on how much capacity it generates (measured in Watts), the physical size of each panel, the durability or warranty period offered, the quality of materials used in it as well as the types of certifications that the panels have. The price may also vary depending on how many panels are being purchased as part of the package – the general rule showing the price decreasing with an increase in a number of panels in the package. However, it is to be kept in mind that price is never the primary factor to take into account when purchasing a solar panel. The panel will have to fit the purpose perfectly in order to give its maximum performance. Factors to Look Out for When Purchasing Solar Panels It is always a good idea to look for the best place to buy solar panels before making a purchase. This would generally ensure that all the factors that add up to give an efficient and high-performance product are taken care of. One of the main things to ensure is that the temperature coefficient has a low percentage per degree Celsius. Given that the conversion efficiency is a measure of how much solar energy a panel can convert into electricity, you should look for a panel with a high conversion efficiency. A good solar panel will also have very little potential induced degradation (PID). Along with all of these, it is also a good idea to analyze the warranty period granted by the company as it reflects the confidence the company shows in the panels. Keep in mind the fact that the light-induced degradation (LID) of a good solar panel is also little to none because an increased LID means that the amount of power produced by the panel is less. While it is mostly considered as an environmental cost, looking at the embodied cost of the panel is also generally a good idea for a person since it is a measure of how quickly the investment on the panels will be paid back through its energy production intensity.

Aviation comes with an emissions problem. As a business, both in the range of its operations and also the essence of its emissions, aviation has a substantial influence on the surroundings. Regardless of this, aviation emissions remain largely unregulated and are rising even as several other industry businesses decrease theirs. If international aviation has been a nation its emissions could be rated about 7th, involving Germany and South Korea, on carbon dioxide (CO2) alone. At precisely the exact same time, aviation continues to grow 4 – 5 percent each year. Layout of almost any market-based mechanism. Five years from the planned start date, plenty of design issues will need to be addressed, such as how it could be executed, and if responsible entities are airline companies, or countries, or even a curious blend of both. In late 2013, ICAO published a report analyzing the viability of different market-based mechanics to tackle the aviation emissions difficulty. It contemplates three choices international compulsory offsetting international compulsory offsetting with earnings and international emissions trading. 1 alternative isn’t there, but should be: a taxation. Concerning policy systems or instruments to mitigate climate change to grow the purchase price of carbondioxide, to restrict emissions and to promote the development of other energies the simpler a method is, the more probable it’s to do the job. A quantity based tool is an emissions trading scheme, together with the most frequent instance a cap and trade system like these approaches that the Australian government has employed or attempted to execute. A well known, and rarely taken up variant of an emissions trading scheme, is a baseline-and-credit strategy. A carbon tax Requires a fee for each and every ton of carbon generated. Fuels that are somewhat more carbon intensive coal, as an instance become more costly under a carbon tax solar becomes much more aggressive. A carbon tax will increase the purchase price of fossil fuels. Tax infrastructure is set up; preexisting collection mechanisms exist. Taxation has reduced administrative and compliance costs than does carbon . Taxation is much more direct and more transparent than emissions trading and provides cost certainty and stability compared to allow cost volatility by executing a predetermined cost for carbon emissions throughout the airline sector. Any tax on airline may take the kind of a ticket taxation or a death tax or possibly. Particular gas taxes are illegal under the 1944 Chicago Convention on International Civil Aviation and many bilateral air services arrangements. Who Would Pay? No matter if ICAO members finally decide a trading strategy or a tax would be your preferred instrument to tackle the aviation emissions difficulty, the expenses of both will probably be passed on to passengers. In ICAO’s 2013 report, it’s estimated that in 20 years time, the expense of a market-based scheme could be approximately US$10 per seat for a trip of 12,000 kilometres and US$1.50 per chair on a trip of 900 to 1,900 kms. The ICAO consensus arrangement also represented demands from developing nations to place more of the onus on neighboring states overall to decrease aviation emissions. So based on the viability of the airline along with the appropriate route, a few passengers will pay more, and some will pay less. Beneath any market based mechanism, subsequently, a few passengers will be equal than the others.

Growth Trends for Related Jobs Wastewater operators may be the world’s ultimate recyclers—they take the substance most plentiful on earth (water), purify it by removing chemicals and solid waste, then filter it back to Mother Nature. Throughout their day, wastewater operators may work with water samples, generate computer reports and treat water with chemicals for testing. Wastewater operators earned an average of $41,580 per year across the country in 2009, according to the U.S. Department of Labor Bureau of Labor Statistics’ wages report. Operators seeking higher salaries should check into industries such as pharmaceutical and medicine manufacturing, offering an annual mean wage of approximately $54,320, much higher than the national average. The Federal Executive Branch of the government also offered its wastewater employees a higher salary, at $52,630. The key to earning the highest wastewater salary may be heading west. The western part of the country offered some of the highest salaries for wastewater operators, with Nevada leading the country at $58,520. California earned second place with its wastewater operators earning approximately $57,620. In third place was the District of Columbia, paying $53,620. Back on the West Coast, Alaska at $53,570 and Washington state at $51,890 rounded out the top five. While graduation from high school is technically the only requirement for earning a salary in wastewater operations, prospective candidates may find enrolling in a community wastewater-treatment technology or water-quality degree or diploma program separates them from the pack. Otherwise, training is provided on the job. All wastewater operators are required to be certified by their respective state; each state’s guidelines vary. Wastewater operators looking to earn a salary in their field should expect a heavy flow of potential, according to the Bureau of Labor Statistics. The BLS reports the field is expected to grow by 20 percent, or 22,500 jobs, through the year 2018, much faster than other occupations. The BLS suggests that operators who possess problem-solving skills and mechanical aptitude will be the most likely to secure salaries.

A recent survey conducted among the German public finds continuing support for the Energiewende. Furthermore, only a third said the cost was too high. Craig Morris says a closer look also reveals that people who already have systems close by are less likely to oppose them. The average German household currently pays 18 euros per month for the renewable energy surcharge. A survey conducted in August by TNS Emnid for renewable energy organization AEE finds that only 31 percent of the participants believe that is too much, compared to 57 percent who believe that amount is acceptable and six percent who think more needs to be paid. Overall, a whopping 93 percent of those surveyed said that further growth of renewables was “important” or “very important.” The survey also included a question about the acceptability of specific electricity generation systems. While 68 percent support renewable energy systems in general, only seven percent like coal plants – and only four percent nuclear. Note that in all cases, acceptance increased when people already had experience living close to such plants. Acceptance of solar power plants was the greatest at 77 percent, compared to only 59 percent for wind turbines. But notice the huge discrepancy: a far higher number (72 percent) of people who have experienced wind farms nearby support the technology. In contrast, support for biogas units was the lowest at a mere 39 percent, rising only to 53 percent among those who already have experience or live close by to those units. This low level of support is one reason for why the government has clamped down on bioenergy in general; the other reason is cost. Finally, the survey asked what people expect of the Energiewende. The top answer was “making the future safer for our children and grandchildren” at 77 percent, followed by “”protecting the climate” at 73 percent. In contrast, only 33 percent believe the energy transition will “lower costs for consumers in the long term.” Questions about energy democracy – “citizens can take part in energy supply” and “more competition with power corporations” – revealed middling expectations at 57 and 50 percent, respectively. Note, however, that the question was not why people supported the Energiewende, but what outcome they expected it to produce. Similar questions were asked in a survey from September 2013, which also found exactly 93 percent in support for the growth of renewables. Likewise, support for the various technologies has only shifted slightly, as have the expectations, which had the exact same order (with slightly different numbers) two years ago. In other words, over the past two years, support for the Energiewende has hardly changed.

For the last nearly 40 years, we have accepted that a database is something centrally stored and managed by people more knowledgeable on the subject than most of us — namely, the administrators. If an administrator would give us access to the database, then we would be able to read parts or all of it and write in it, depending on the rights we are given. If we have the necessary permissions, we can alter the existing information, created by somebody else. We have come to accept some disadvantages of such architecture — the server may fail, and the information may be lost and workflow disrupted, the data may be corrupted, we cannot see a previous version of the database if we need to. But we didn’t know any better, so we had to put up with it. In recent years, a groundbreaking new technology that is likely to change most industries has come to existence — the Distributed Ledger Technology (DLT). The distributed ledger is a database replicated on multiple computers at the same time. This database is not managed by a central authority; instead, in the classical implementation of the technology, everyone in the network gets a copy of the same whole database and can add to it. To enter the database, any new addition has to be confirmed by the other participants on the network. Such a distributed database has a number of notable distinctions from the traditional centralised database: - The records are securely stored, replicated in multiple computers, with no danger of a loss. In contrast, if they were stored by a central authority in one separate database, damage, or corruption of that database would result in the loss of the records. - A record cannot be changed. If anybody tries to change the record, then their version of it would contradict the versions of the majority of the network and will be discarded because it is different from the majority version. - The network establishes trust — each record in the database has been confirmed by all network participants, so there is only one truth for all. - The database is decentralised and distributed over multiple computers and transactions are completed directly between the parties. There is no central authority with the power to censor, alter, filter or interfere with the information in any way. The DLT has found application in various scenarios, such as asset registry, interbank reconciliation, intellectual property rights protection and royalty payments, supply chain optimisation and traceability, tracking the movement of shipments, with the list of applications expanding daily. The Corda Platform The classical implementation of DLT has the obvious advantages of being a secure, immutable, transparent decentralised platform for establishing trust between mistrusting parties and transferring value across the network. However, it also has features that are unacceptable for some businesses, namely, lack of confidentiality of the records and limited transaction speeds. Different modified versions of distributed ledgers have evolved in an effort to overcome these hurdles and make the technology applicable for different business uses. To accommodate the needs of the financial industry, the R3 consortium has developed Corda, an open-source distributed ledger platform. Corda is originally built to record, manage and automate financial agreements. However, assets are not exclusive to financial products but have covered insurance and global trade finance in the business-to-business space. Meet Corda, the DLT with a difference Corda is different from most of the other DLT implementations in that: The communication in Corda is point to point, as opposed to broadcasting to the entire network, thus resolving any privacy concerns. In Corda, only the parties involved in a transaction can see it. - It is permissioned — the participants in the Corda network are known entities, who have been invited and have obtained permission to join the network - Corda utilises “smart contracts” with legal prose so that they are compatible with traditional legal systems and could be material in case of a dispute in the real world*. - The consensus mechanism in Corda is based on validation from specific network participants called notaries, avoiding the time consuming and energy inefficient block mining. Consensus, in the context of a distributed ledger, means that all participants must see the same data and agree to it and to the history leading to the current state. The Corda Network To facilitate the application of the platform, the Corda developers have deployed the Corda Network — a publicly available network of nodes operated by network participants. The Network enables participants to move value and identity data between the businesses and to reach agreements and automate transactions that are legally binding. Much like the internet, the Corda network provides the backbone on which various applications could be run. The network can support a number of self-organised sub-groups of participants, and each group would have an operator — a party that manages admission to the subgroup and the application of the subgroup rules. The Corda network provides key services: - Identity operator service, providing admission to the network after reviewing the submitted credentials. With this service, the network provides assurance regarding the identities of the network participants enabling them to enter into legally executable transactions. - Network map service, enabling the participants to find and communicate with one another over the network. - Notary service, providing network consensus and guaranteeing the uniqueness, history validity and finality of each transaction without the need for costly block mining. - Support service, providing the smooth running of the network and resolving any incidents related to other services of the network. Corda platform industry solutions The Corda platform has been successfully deployed in projects in the highly regulated financial services sector and is the preferred platform for the implementation of blockchain technologies in the insurance industry. Consortia in various industries have found Corda to be suitable for coopetition — collaboration between competitors for mutually beneficial results. Corda enables automation of numerous processes in insurance by applying the business logic of the policy through smart contracts. Using such contracts gives insurance companies the ability to : - Collect information regarding a claim, verifiable by third parties - Implement automated payments - Eliminate fraudulent claims - Increase the speed of processing - Eliminate mistakes resulting from manual handling of data Corda has demonstrated its superiority to the alternative DLT solutions for the insurance sector and has been selected by B3i, the insurance industry blockchain initiative, as the platform of choice for industry-wide solutions. ZKP3: Medical Claim Management System using Corda Corda was designed in partnership with large financial institutions taking into consideration the strict regulations imposed on the industry. The Corda platform has found application in this most demanding environment bringing significant efficiencies to the underlying processes. Applicable scenarios include: - Managing contract lifecycles in post-trade processing of swaps - Facilitating cross border Instant Money Transfer payments between banks directly, bypassing the complicated nostro account relationships - Settlement of equity post-trade transactions - Collaboration between multiple parties in agreements regarding syndicated loans Project Marco Polo: An Open Trade Finance Platform Powered by Open APIs and DLT using Corda Project Ubin: Clearing & settlement of payments & securities with DLT using Corda Contemporary supply chains often contain a great number of interdependent parties that need to cooperate to make possible the assembly of a final product. Corda provides the platform for recording verifiable, trusted and immutable data across the supply chain. The platform enables the supply chain to: - Show information origin and verify its authenticity - Create automated auditing in case of a system failure - Trace the components origin and eliminate the use of counterfeit components The current state of information flows and data management in the healthcare industry is inconsistent and disorganized, to the detriment of the service users. Patient privacy is not guaranteed, patients do not know who owns their information and how it is used. Important historical information may not be available to the healthcare institution that needs it to make a decision regarding the treatment of the patient. Corda offers a solution for these issues by: - Providing a network for sharing the important information between healthcare institutions in the form of verifiable immutable records - Protecting patient information confidentiality - Ensuring compliance with healthcare regulations - Arranging involvement of health insurance providers and automating claims processing Construction is an industry where collaboration and communication between numerous parties are crucial for the realisation of the final product. In a building project, it is often the case that contractors hire subcontractors, who then delegate the work to their subcontractors, and it is not clear to the developer who does what and when. Corda can address these issues by: - Providing a platform for sharing data about the progress of the works - Providing clarity of the identities of the parties doing particular works - Protecting the confidentiality of the data by transferring it on “need to know” basis Corda solutions for the construction industry were proven in the hackathon, organised by University College London’s Construction Blockchain Consortium in September 2018. One fully functional solution was delivered by the INDUSTRIA team participating in the event. The Corda platform is also applicable to use cases in government, trade, procurement, and any other businesses that find the Corda network useful for their specific needs. *N.B. Special thanks to Andy Bachmann of Deloitte Switzerland for the valuable contribution! INDUSTRIA is an award-winning global consultancy and development firm that creates web, blockchain and fintech solutions, helping both companies and ecosystems significantly reduce the costs and complexity of doing business. Official partner of R3. INDUSTRIA is experienced with the dedicated team engagement model and can deliver quality fintech, blockchain technology and web development solutions based on it. To talk to us about realizing your idea, contact us here or follow the links below.

Today we return to the theme of Business Strategy, beginning at the beginning – the formulation of a company’s strategy. Without proper preparation, evaluation, and planning, even the best plans and strategies will fall flat. To devise a strategy that will work for your particular business, you must approach the process with as much information as you can gather, and perhaps most importantly, with honesty. An honest evaluation and look to the future are vital in the formulation of a business plan. There are three general steps involved in putting together a quality Business Plan: analysis, setting objectives, and finally the detailed plan. Whether you are beginning with a new business or formulating strategy for an already existing company or new product line, the first phase of the process is in analysis. You need to look at as many variables as possible during this initial phase. Break down your company in detail – internally, externally, situation, location, finances, past performances, etc. Break down your competition, as well as you can, in this same detail. Study your market; study your industry; study the larger markets and trends. The ultimate goal here – to be able to see your company as it really is. If you have an inaccurate estimation of your company at the end of step one, then none of the other phases will matter. This is where the above mentioned honesty comes into play – an honest evaluation and analysis is crucial. We cannot stress this enough; take the time and use the resources needed to do this step properly. II. Setting Objectives Once you finish the analysis phase, you then have the chance to set goals and objectives for your business. Many companies try to set goals first, but then you have no idea how realistic or achievable your goals might be. Goal setting comes after analysis – you see where you are, and then you can make plans for where you want to go. Often, in analysis, companies find out things about themselves which are surprising! Objectives will be formed in multiple ways: long-term goals, short-term goals, overall objectives (internally and externally), financial goals, etc. Often these will be framed as mission statements, vision statements, or company statements. So objectives will span several planes, including horizontal (over time) and vertical (building on one another). III. The Strategic Plan The objectives which you set in step 2, after a careful consideration of the information you gather in the analysis stage, should in themselves suggest a strategic plan. The plan itself merely provides the specific ways that you will go about achieving your objectives. What projects or programs will you implement to achieve your ultimate goals? If your company wants to increase sales, for instance, then your strategic plan will need to lay out exactly what steps you intend to take to increase your sales. The strategic plan will be based on the analysis, which will have considered such questions as – what is your competition doing that is successful? what are you doing that you know is not working? what is no one doing? what has worked in the past? what are the markets showing for the future? You can then take the answers to these questions and decide what your specific company, in your particular situation, can do to achieve your objectives. As you are in the final phases of fine-tuning your plan, there are three final questions to consider. - – does my plan make sense? - – is my plan feasible? - – will this plan be acceptable to all parties involved (employees, consumers, investors, etc.)? Finally, keep in mind during this phase that your plan is not set in stone! As we will see in Steps 2 and 3, the plan will be constantly revisited and modified as needed. You want to put together the best plan possible, this is no excuse to cut corners early (which will inevitably derail your efforts from the beginning), but do not get caught up by the “myth of perfection” – the chances you will get every possible piece of your plan exactly right is somewhere near 0%, even with the best teams and analysis in the world. Formulate the plan with all proper preparation and caution, and then move forward. Our next article will look at the second step in Business Strategy – Implementation.

“The Economics of Ecosystems and Biodiversity: Mainstreaming the Economics of Nature” seeks to characterize the value of the environment. The document is the seventh and final report from the United Nations Environment Programme on the economic value of ecosystems and biodiversity. The report provides an economic valuation of the natural world that is intended to help policymakers make informed decisions about the environment. “TEEB [The Economics of Ecosystems and Biodiversity] has documented not only the multi-trillion dollar importance to the global economy of the natural world, but the kinds of policy-shifts and smart market mechanisms that can embed fresh thinking in a world beset by a rising raft of multiple challenges. The good news is that many communities and countries are already seeing the potential of incorporating the value of nature into decision-making,” said Pavan Sukhdev, a banker who heads up the Green Economy Initiative of the United Nations Environment Programme. Among the report’s recommendations: - Making the value of nature more visible to policymakers and the public - Accounting for risk and uncertainty in environmental policy decisions - Measuring changes in each nation’s “natural capitol stocks,” such as ecosystem services - Including environmental liabilities and changes in natural assets in the annual reporting of businesses - Creating economic incentives for environmental protection, such as ‘polluter-pays’ To download the report, visit http://www.teebweb.net. back to Public Policy Reports

Published: October 25, 2017 The 2007-09 financial crisis showed that stress in the financial system can have devastating effects on the economy. To measure such stress, the OFR has developed a Financial Stress Index. This working paper describes how the index is constructed and how the OFR uses it to monitor financial stability. (Working Paper no. 17-04) We introduce a financial stress index developed by the Office of Financial Research (OFR FSI) and detail its purpose, construction, interpretation, and use in financial market monitoring. Using a logistic regression framework and dates of government intervention in the financial system as a proxy for stress events, we find that the OFR FSI performs well in identifying systemic financial stress. In addition, we find that the OFR FSI leads the Chicago Fed National Activity Index in a Granger causality analysis, suggesting that increases in financial stress help predict decreases in economic activity.

What is Blockchain and how does it work? The concepts behind Blockchain can be relatively complex but at its core, Blockchain is a technology that enables trust in the transfer of value or assets between two parties without the need for a trusted middleman (like a bank for example). All the exchanges (transactions) are recorded in a list or as it is commonly referred to; a “ledger”, that is shared (distributed) between all users of the blockchain. The detail of each transaction recorded in the list is referred to as a “block” of data. What’s important about these exchange records is that the cryptographic technology that enables Blockchain ensures that the records written into the shared database (ledger) cannot be altered by any single party or minority group of them. It is the running transaction history saved to the database (ledger) that is called the Blockchain. Every party using the blockchain has to agree on the values saved into the ledger (consensus), if one party changes one of the values in the database, the other parties, when checking their copy of the database will notice and the change is made known to the majority. Blockchain technology facilitates the trusted exchange of assets in an environment where there is no single governing entity, transactions can’t be manipulated and that is fault tolerant due to its distributed nature (the ledger is kept by everyone).

The Cato Institute’s Project on Emerging Technologies advances a singular and optimistic imaginative and prescient of rising know-how in line with the rules of particular person liberty, restricted authorities, free markets, and peace. John Woods: Our experience is that if firms give attention to understanding the financial and social worth of any technology — and that social value could come in terms of, for example, security, or within the environment — then that technology can then be translated into what it means for the individual. There is a consensus that this technology has many advantages, but the businesses aren’t completely committed to spend in cloud computing services and functions because of the regulation, safety and administration of the info and assets. One can easily avail pay-as-you-go pricing by paying the cloud supplier as per the usage, making it easy for particular person prospects or companies to use the cloud. For instance, the Hypersuit startup introduced their technology combining a virtual actuality headset and an exoskeleton to simulate air movement. Forward-wanting organizations are using rising technology to rework the way they do business. Do not anticipate to see these technologies emerging anytime soon, but after they do, they’ve the potential to be of high value. It’s actually necessary for corporations to continuously scout for these new digital applied sciences, as a result of there’s clear worth that these technologies can unlock for an organization. They identified three rising know-how trends that may most affect enterprise by 2017. 2021 Emerging Expertise Roadmap For Large Enterprises IT safety as we know it is experiencing a revolution. The idea of data storage on internet is actually superb but to keep knowledge secured all the time high safety is required. There’s a lot emerging expertise for corporations to explore — from VR to blockchains artificial intelligence, and that is barely scraping the surface. Augmented, virtual, and mixed reality applied sciences are helping merge the digital and physical worlds round us, either by means of an overlay, the flexibility to introduce digital parts into your surrounding environment, or the creation of virtual worlds.anonymous,uncategorized,misc,general,other How To Prepare For Emerging Applied sciences In fact the perceptions and the expectations of the shoppers have undergone a sea change, with the supply of banking services to the customers at their door steps via the assistance of technology. emerging technology in modelling and graphics, emerging technology journal, emerging technology for learning, emerging technology for online learning, emerging technology trends 2019 gartner What Can Rising Technologies Provide Our World? I love know-how, and we’re fortunate to be dwelling at a time when most of us are experiencing the great evolution of know-how. Valtech is within the enterprise of working with manufacturers to find future potential and finding, adapting or creating the know-how to make it happen. Nevertheless, I also seen that digital reality can also be utilized to train individuals within the medical, aeronautics, railway upkeep, petrochemical or nuclear industries. When retailers capitalize on the opportunity to architect a new technology-fueled, customer-centered procuring expertise, they’re more likely to perceive and have the flexibility to cater to customers — who they hope will show their appreciation with their model loyalty. Rising Trends In Customer Relationship Management Emerging technologies have the potential to transform the experience of growing older in the twenty first century. Yet as an area of study, rising applied sciences lacks key foundational parts, specifically a consensus on what classifies a expertise as ’emergent’ and robust analysis designs that operationalize central theoretical ideas. A convergence of global tendencies over the past 20 years, together with the increase in global data visitors, on-line users, connected objects, and entry to cloud computing has laid the groundwork for the digital period. In accordance with Gartner, the technologies to be thought-about for this category include DigitalOps, data graphs, artificial information, decentralised web and decentralised autonomous organisations. Telehealth is the term coined for well being providers which might be delivered although the Internet and other telecommunications applied sciences. emerging technology that can be used in knowledge and information management, emerging technology trends 2018, emerging technology for teaching and learning Kuala Lumpur (ESCAP Information) – Emerging applied sciences and improvements catalyse progress on the 2030 Agenda. Others, like additive manufacturing, synthetic intelligence and blockchain, are nonetheless being explored for their potential to deliver enterprise worth at scale. One of many extra prevalent rising technologies, synthetic intelligence is a strong companion to massive data.

The paper "Developing Petroleum Engineering " Is a wonderful example of a Management Case Study. Operated by Big Oil and Gas (BOG) and Vulture Exploration and Production, Albatross Field is situated in the Central Graben region of the North Sea, about150 miles offshore Aberdeen, Scotland. The field has four platforms, dubbed Albatross A, B, C, and D. However, the field is mature and is in the last part of its commercial life. The oil production field is on the verge of natural decreased production levels because of maturation coupled with the aging of production facilities. Among the biggest challenges facing Big Oil and Gas (BOG) and Vulture Exploration and Production Ltd is developing and implementing new technologies to facilitate recovery from the mature fields and extension of the life of the aging fields. The two firms seek more effective technologies for managing the available assets and boosting performance, future development, and cost reduction. This report assesses the various alternatives available for developing the outlying Herring and Halibut fields and redeveloping the Albatross Field. Emphasis is placed on the new technologies that can be used to increase the existing production levels, while at the same time keeping the operating expenditure (OPEX) at minimal. The ideal concepts are also suggested. The potential of using the new technologies Several methods can be used to increase production over the current levels, reduce Capex and Opex over the plan period and Leverage the existing assets at Albatross. These include de-pressurizing of the Albatross reservoirs, infill drilling by targeting untapped or un-drained attic oil and compartmentalized accumulation and developing the satellite fields. Increasing production over current plan levels Permeability homogenization and de-pressurization From the case, it can be argued that Albatross Field is made up of weakened sandstone material. Since weak sandstone tends to have a greater loss of conductivity, it is critical to note that reducing rock permeability because of loading is relative to the initial value. This is since permeability will be reduced leading to permeability homogenization (Standness et al. 2005). Additionally, since it is clear that the production of oil at Albatross is by water-flooding, this would result in progressively increased water-oil-ratio (WOR), which can lead to abandoning the field. However, once the water injection is stopped and the reservoir generates through depletion, the oil production rate is achievable at economical rates. Implementing de-pressurization is therefore crucial as it will promote larger fluid viscosity, fluid saturation, and phase mobility. It can also compact rock (Standness et al. 2005). Consequently, Oil and gas production rates at Albatross Field can be increased and maintained once the water injection is halted and the reservoir generates oil by depletion. This technique has been tried at Brent Field in 1992, where de-pressurization was used to boost oil and gas production. The technique entails decreasing the pressure in the field to just under the bubble point. This facilitates the breakout of solution gas, which increases the recovery of gas from the production wells (Buller et al. 2004). Despite this, the technique has underlying shortcomings. It will require a high initial Capital expenditure (Capex) for the conversion of 3 of the 4 platforms at Albatross to low-pressure systems. Additionally, because of the reservoir pressures that are low, the infill wells will have to be drilled through the highly depleted zones of nearly 4000 psi differential. This can cause substantial complications due to lost circulation. Akhter, M, Qamar, S, Pervezm T 2012, "Swelling Elastomer Applications In Oil And Gas Industry," Journal of Trends in the Development of Machinery and Associated Technology Vol. 16, No. 1, pp.71-74 Alvarado, V & Manrique, E 2010, "Enhanced Oil Recovery: An Update Review," Energies vol. 3, pp.1529-1575 Blade Energy Partners 2014, Selected Projects Details, viewed 5 July 2014, http://www.blade-energy.com/blade-website.nsf/web-content/E8D3499161A1DB4F862578E60062AB07 Buller, A, Karstad, O & Koejer, G 2004, Carbon dioxide capture, Storage and Utilisation. Research & Technology Memoir No.5. Retrieved: Clouzeau, F, Hansen, R & Prouvost, L 1998, "Planning and Drilling Wells in the Next Millenium," Oil Fiel Review vol. 10 no.4, pp.3-58 Framo Engineering 2002, Framo Multiphase Pups for Offshore and Land Applications, Bergen, Norway Hill, D, Neme, E & Mollinedo, M 1996, “Reentry Drilling Gives New Life to Aging Fields," Oilfield Review vol. 1, pp.4-57 Mancini, E, Blasingame, T, Archer, R, Panetta, B & Benson, J 2004, "Improving recovery from mature oil fields producing from carbonate reservoirs: Upper Jurassic Smackover Formation, Womack Hill field (eastern Gulf Coast, U.S.A.)," AAPG Bulletin, vol 88, no 12, pp. 1629–1651 Pike, B 2007 (ed), Extending the Productive Life of Mature Assets, Hart Energy Publishing Pitzen, C 2006, Stellar Technology’s Oil Field Sensors, A Stellar Technology White Paper Shell 2010, Enhanced Oil Recovery 2012, Shell Technologies, Rijswijk, The Netherlands Sino Australia 2013, An Introduction to Enhanced Oil Recovery Techniques, viewed 6 July 2014, http://www.sinoaustoil.com/irm/content/pdf/Sino%20Australia%20Oil%20and%20Gas%20Technical%20Information.pdf SLB 2007, “Intelligent Completions,” Middle East & Asia Reservoir Review, no. 8, pp.6-20 Standness, D, Skauge, A & Pettersen, O 2005, Effects to Be Considered When Planning Late Stage Depressurisation, Centre for Integrated Petroleum Research (CIPR), University of Bergen, Norway Stockmeyer, C, Tillman & D, Weirich, J 2006, "Expansion system developed, tested to prove expandable monobore liner extension concept," Drillin G Contractor, pp.60-63

Decision making is a very crucial activity engaged at any level, by managers in all types of organizations. One of the major examples of data that can be used in managerial decision making processes is called data mining. It is the process of discovering important new patterns, correlation and trends through sifting of large amounts of data, by employing the use of pattern recognition technologies also statistical techniques. Data mining tools are helpful in the formulation of both tactical and strategic decision which can be necessary for organizations to survive in the business. Better understanding of statistic leads to better data interpretation hence better decision can be made. Regression analysis involves three steps, which are; modeling, predicting, and characterization. The logical order of tackling these three steps such that each task leads to or justifies the other tasks clearly depends on the key objectives. Modeling can be done to get prediction, which will enable better control during business decision making. Qualitative fore casting incorporates judgmental and subjective factors into forecasting, while quantitative forecasting model attempts to predict the future by employing the use of historical data. Quantitative forecasting tends to capture only seasonal factors at the expense of ignoring trend also assumes data from some periods to be more important than data from other periods. All these will not be very appropriate for managerial needs. In qualitative forecasting judgment is combined at higher levels to reach an overall forecasting which can result to better managerial needs. Risk analysis involves qualitative and quantitative methods. Quantitative method will develop the level of risk for each hazard, while qualitative methods assume that a loss cannot be expressed as discrete event or monetary value. These can help in anticipating any possible business outcome before any actual performance. Well organized statistical report will enables users to make effective utilization of the available information, in acquiring a better understanding of the past to predict future through better decision making by managers.

Applications for U.S. citizenship are rising. According to the National Partnership for New Americans (NPNA), roughly one million immigrants applied in 2017. The country is well known for the benefits U.S. citizens enjoy—and at age 65, one of the most popular benefits is Medicare. What exactly is Medicare? Original Medicare is a national, government-funded program available to U.S. citizens ages 65 and up – designed to provide medical insurance and reduce out-of-pocket costs for health care for seniors. Original Medicare comes in two parts: - Part A – covers inpatient expenses in a hospital, hospice, or skilled nursing facility. FICA payroll taxes fund Part A, so if you have paid U.S. payroll taxes for at least 10 years (40 quarters), you may qualify for premium-free Part A. - Part B – covers doctor visits, and outpatient diagnostic tests and services. Most Americans enrolled in Original Medicare pay $135.50 in 2019 for Part B benefits. Once working citizens turn 65 and choose to retire and enroll in Medicare, Medicare is the primary source of health coverage. You are not required to enroll in Medicare at age 65, but if you don’t, and later decide you want health coverage, you may have to pay a late enrollment penalty with your premium. If you enroll in Original Medicare (Part A and Part B), you still have out-of-pocket expenses. Both Part A and Part B have deductibles, which is the amount you must pay out of pocket before Medicare pays. In 2019, the Part A deductible is $1,364 and the Part B deductible is $185. Part B typically covers 80% of allowable charges for covered services; you pay 20%. You may purchase a Medicare Supplement Plan, or Medigap, through a private insurance company if you want help covering your out-of-pocket expenses under Original Medicare. Your out-of-pocket costs may also be lower if you choose a Medicare Advantage plan instead of Part A and Part B. Medicare Advantage plans are private health plans approved by the Centers for Medicare and Medicaid Services. You don’t lose any benefits by choosing a Medicare Advantage plan, but you may find a plan with extra coverage for things such as routine vision and dental care not covered under Original Medicare. Part D is the Medicare prescription drug program. Although the coverage is voluntary, most people enroll when they first become eligible. If you don’t have a prescription drug plan from another source and don’t buy Part D prescription drug coverage right away, but later decide to buy it, you may pay a late enrollment penalty with your premium. Note that many, if not most, Medicare Advantage plans include prescription drug coverage. If you are a legal citizen of the United States or lawful permanent resident, you can apply for Medicare at age 65. However, if you are already 65 by the time you obtain citizenship, you might have to wait until the annual enrollment Period to apply for Medicare (October 15 through December 7). Otherwise, your initial enrollment period begins three months before the month you turn age 65, includes your birth month, and extends an additional three months. If you are an immigrant or in the U.S. on a green card, you must have lived in the U.S. lawfully for at least 5 years as a permanent resident before you are allowed to apply for Medicare. How to apply for Medicare You can enroll in Medicare in three ways: - apply online at www.socialsecurity.gov - visit your local Social Security office and apply in person - call the Social Security office at 1-800-772-1213 to apply by phone Typically, only U.S. citizens can apply online or over the phone. Green card holders who may be eligible for Medicare benefits generally should visit their local Social Security office to apply. You will be automatically enrolled in Original Medicare (Part A and Part B) if you are eligible, unless you elect to enroll in a Medicare Advantage plan. About the Author: Danielle K. Roberts is a Medicare Supplement Accredited Advisor, member of the Forbes Finance Council and co-founder of Boomer Benefits located in Fort Worth, TX. Her award-winning agency is licensed and appointed in 47 states and has helped tens of thousands of Medicare beneficiaries understand their benefits since 2004. Since starting her agency 15 years ago, she and her brother have grown their agency into a multi-million-dollar company that employs workers of all ages. They were recently awarded the 2019 Health Insurance Advisory Firm of the Year Award by Finance Monthly.

The money of tomorrow? (cepInput) Cryptocurrencies, stablecoins and central bank digital currencies. What will the money of the future look like? A cepInput provides information about what money is, what it looks like today and what it might look like in the future. Traditional forms of money - cash, bank deposits and central bank reserves from private banks - still dominate our monetary system. However, new forms such as the cryptocurrency Bitcoin are gaining in importance. Facebook is planning with Libra to create a stablecoin, i.e. a cryptocurrency that is as stable as possible. Alarmed by these developments, central banks around the world are thinking about creating their own digital currencies. The cepInput compares the traditional forms of money with the new private and public forms and examines whether the new forms of money are able to fulfil the core functions of money - unit of account, medium of exchange and store of value - to the same extent as traditional money.

The 2014 Sochi Winter Olympics were the most expensive in history, costing an estimated $50 billion. This time around, South Korea has managed to keep the price down to $12.9 billion, which still overshot the budget proposed in their bid. Even so, how did South Korea's Olympic games cost so much less than those staged four years ago in Russia? From the outset, the local Olympic organizing committees from Sochi and Pyeongchang took opposite approaches. Sochi's grand plans for the "most extravagant Olympics ever" resulted in ballooning costs from day one. The conversation leading up to Pyeongchang 2018, on the other hand, was modest, and that may have been key to keeping down the cost. Recent Olympics have been consistently outspending their proposed budgets. For decades costs have spiraled out of control, and the upcoming summer games in Tokyo look set to follow suit. Given the scale of each games, the real cost is hard to calculate. Even the $50 billion figure eternally tacked to Sochi 2014 isn't a hard number. Leading up to the games, a Russian Olympic official said the country was willing to spend $51.08 billion, but it's not like he published an expense report. No one does. Taxpayers quietly cover over-expenditures for decades after the games have left. After hosting the 1968 Winter Olympics, taxpayers in Grenoble, France, were still paying the bill into the early 1990s. The 1976 Montreal Games were finally paid off in 2006. With little transparency in the country's economy, it is unclear how long the Russian people will continue to pay for Sochi. With increasing awareness of the pitfalls of hosting an Olympics, however, South Korea was subject to more scrutiny. All Olympics overshoot their budgets One research study, from Sorbonne economist Wladimir Andreff, asked why sporting mega-events so often overshoot their bid budgets and found the culprit is the bidding process itself. Andreff ultimately recommended that the bidding process be scrapped altogether, and that we establish a single fixed Olympic site once and for all. Most bids fail because they are overzealous. Organizers bid with the assumption that previous games were expensive because of mistakes that won't be repeated. In the bidding war, where skepticism might cost you your bid, foolishly short predictions win the day. Sochi's original 2007 bid of $8.5 billion had more than quadrupled to $33 billion in three years. During the bidding process, Pyeongchang estimated its budget within a range: between $3.5 billion and $9.5 billion. Once Sochi failed to meet its $8.5 billion budget a new budget was established -- which eventually turned into several new budgets. When the Pyeongchang committee failed to meet their $3.5 billion goal, they at least failed towards a consistent target. Investments in the Sochi Games were subject to a substantial amount of corruption and fraud, pushing the price tag higher. One report claimed that between $25 billion and $30 billion of the Olympic investment fund had been embezzled. South Korea is no stranger to corruption scandals. But scrutiny towards the country's executive may have minimized damage to the Pyeongchang Games. Ex-president Park Geun-hye was removed from office and arrested last year, and the current administration is still in the midst of corruption investigations that are still bringing new charges. After Park's arrest, the South Korean peoples' confidence in the Pyeongchang Games skyrocketed, Professor of Sports Science at Dong-A University Dr. Chung Hee-joon said over the phone. The center must hold Boston stepped out of the bidding process for the 2022 Winter Olympics after Bostonites voiced their concerns about footing the bill in 2015. Stockholm, Sweden; Oslo, Norway; and Krakow, Poland, stepped out for similar reasons. Only Beijing, China, and Almaty, Kazakhstan, remained. Boston's mayor referred to hosting the Olympics as "mortgaging the future of the city away." Much of the cost is incurred through infrastructure development, with the dubious promise that the games will win the local region increased tourism for years to come. In South Korea, local governments were having none of it. In late 2014, Gangwon Province Councilman Lee Ki-Chan threatened to give up the rights to host the 2018 Winter Olympics in an effort to push the national government to contribute 75% or more of the total cost of the games. Hosting the Asian Games in 2014, Incheon, South Korea's third largest city, made a similar threat. After the city's success at hosting a remarkably low-cost games with a budget of just $2 billion, Incheon declared itself a model for future mega-games in Asia. Indeed, Pyeongchang has largely emulated Incheon's tactics, cutting costs by saying no to unnecessary infrastructure investment. Pyeongchang's committee constructed low-cost temporary stadiums, for example, instead of permanent behemoths that would sit unused, and quickly decay. The Pyeongchang stadium cost $109 million and will be used four times before being torn down. Sochi's Winter Olympics infrastructure development, by contrast, included a Formula One racetrack. While handing out blankets at the opening ceremony may lead to bad press in the short term, such measures all help towards not overspending in the long run.

Few industries are driven more by innovation than the health care industry. New drugs, treatments and technology not only save lives but decrease both access to and cost of care for patients. Access to affordable and convenient health care has become increasingly difficult and costly over the past decade. New products and technologies have emerged to help fill this gap, three prominent examples are telemedicine, direct primary care and retail health clinics. Telemedicine, which is the use of information technology in the diagnosis, treatment, or monitoring of patients’ conditions, can dramatically lower health care costs while increasing access for patients, especially those in underserved areas. Telemedicine has existed for years at a basic level, but the technology has now advanced to the point where the full process of diagnosis, analysis, and prescribed treatment can often be done remotely. Telemedicine can provide health care services to more people who need it at a lower cost. It is hampered by government regulations, not by inadequate technology or a lack of demand. The government should not be in the business of choosing winners and losers. Instead of enabling blatant cronyism, state legislators should work to encourage telemedicine by reforming licensing standards to allow physicians to treat patients across state lines and to work to streamline credentialing. Current primary care doctors face myriad regulations and a reimbursement system that is both slow and costly; creating overhead that can eat up to 60 percent of a typical primary care practice’s revenue. Direct primary care (DPC), also known as “retainer medicine,” is one health care provider model that has become increasingly popular for doctors and patients alike and could serve to revitalize the U.S. primary care system. Under a direct primary care program, patients pay a monthly membership fee, typically ranging from around $50 to $80. As part of the membership, the patients receive a more generous allocation of appointments than under traditional plans, even allowing in some instances for same day appointment or house calls. DPC eliminate burdensome insurance approvals and paperwork, which require a large staff to navigate. Federal requirements also lock doctors into certain treatments to receive reimbursement; DPC’s allow doctors more freedom to treat each of their patients based on their concerns and observations. Costs across the board would decrease as emergency room, hospitalization and specialist visits decline. Another innovation has moved health care out of doctors’ offices and into retail locations which are often far more convenient for consumers. The new model utilizes retail health care (RHC) clinics to simplify the distribution of basic health services and provide needed care at a lower cost, which improves the convenience of receiving care for patients. Retail clinics, which operate in shopping centers, pharmacies, or multipurpose stores, offer basic acute and preventative care services for patients. RHC clinics provide an affordable, transparent service without the heavy hand of government to guide it. Laws and regulations governing the safety and transparency of retail health clinics are appropriate, necessary, and already in existence. State legislators need to be careful not to hinder innovation the growth of an industry that has brought affordable and convenient basic health care services to millions by imposing more regulations.

Policymakers have been struggling to identify ways to deal with America's staggering student loan debt. As of January 2018, Student Loan Hero estimated total outstanding student loan debt at $1.48 trillion, affecting 44 million Americans. Thanks to this debt burden, young Americans are having difficulty achieving typical financial milestones such as home ownership. Here's a novel approach to the problem – just make it go away entirely. A new report from the Levy Economics Institute of Bard College suggests that simply wiping out the current student loan debt would provide significant economic benefit for at least ten years after debt cancellation. The report suggests that unburdened Americans would have more disposable income to invest and spend, resulting in up to 1.5 million more jobs per year and an annual drop in unemployment of between 0.22 and 0.36 percentage points. Since the U.S. economy is approximately two-thirds driven by consumer spending, the effects should boost economic growth. According to the Levy report, the resulting economic growth would boost gross domestic product (GDP) by $86 billion to $108 billion annually – a decent boost to America's nearly $20 trillion total GDP. Inflation is projected to rise no more than 0.3% as a result of this action, and long-term interest rates are projected to rise by no more than 0.5 percentage points. It sounds like a win-win situation – until you consider that debt cancellation adds to the deficit and effectively spreads the student debt burden across all taxpayers. The government owns the vast majority of student loan debt, and would have to fulfill the payments on the privately-held segment of student loans. The Levy report suggests creative ways of addressing the debt. For example, having the Federal Reserve accommodate the losses through the purchase of new financial assets, an effect similar to the quantitative easing program applied during the financial crisis. Regardless of the method, the end result is the same: Taxpayers are responsible. In addition, the premise that the student loan funds would translate directly into spending is shaky at best. Critics may argue that if we're going to give money back to Americans, why not give it to lower-income Americans who spend a higher percentage of their income by definition? A final argument against the student loan issue is basic fairness. Anyone who assumes a loan, student or otherwise, assumes a certain amount of risk. Student loans are the one type of loan where the ability to repay is not assessed by the lender and used as part of the decision-making process. Therefore, it's up to individuals to assess the future value of their degree and manage their loan amount appropriately. Many student loan borrowers manage to handle their student loan debts responsibly, and the Department of Education has multiple programs to help those who have difficulty managing their burdens – including avenues of deferment, forbearance, and the ability to pay off debt through public service. Why should we reward those who were unable to handle their debt responsibilities? While it's an interesting exercise to consider how student debt could be wiped out, such a radical approach is unlikely to occur anytime soon. You can dream about your student loan debt being wiped away, but don't count on it. Make sure that you're controlling spending and budgeting properly to make at least the minimum monthly payments on your student debt burden. If you are waiting for government action to solve your debt problem, you haven't been paying close attention to history. Find out quickly at what rate you can refinance your student loan.

Impacts of FDI The United States is the world’s largest recipient of foreign direct investment. In 2007 alone, the United States received $237 billion in FDI. Foreign direct investment impacts the U.S. economy in many positive ways. For example, FDI: Creates New Jobs: U.S. affiliates of foreign companies (majority-owned) employ approximately 5.3 million U.S. workers, or 4.6% of private industry employment. Between 2003 and 2007, over 3,300 new projects were announced or opened by foreign companies, yielding $184 billion in investment and about 447,000 new jobs. Boosts Wages: U.S. affiliates of foreign companies tend to pay higher wages than other U.S. companies. Internationally owned companies support an annual U.S. payroll of $364 billion, with average annual compensation per employee of over $68,000. On average, U.S. subsidiaries of foreign firms pay 25 percent higher wages and salaries than that of all U.S. establishments. Increases U.S. Exports: U.S. companies use multinationals’ distribution networks and knowledge about foreign tastes to export into new markets. Approximately 19 percent of all U.S. exports ($195 billion) come from U.S. subsidiaries of foreign companies. Strengthens U.S. Manufacturing and Services: Thirty percent of the jobs supported by U.S. affiliates of foreign companies are in the manufacturing sector, accounting for 12 percent of all manufacturing jobs in the United States. Approximately 60 percent of all foreign investment in the United States is in the service sector, improving the global competitiveness of this critical segment of the U.S. economy. Brings in New Research, Technology, and Skills: Affiliates of foreign companies (majority-owned) spent over $34 billion on research and development in 2006 and $160 billion on plants and equipment. Contributes to Rising U.S. Productivity: Inward investment leads to higher productivity growth through an increased availability of capital and resulting competition. Productivity is a key factor that increases U.S. competitiveness abroad and raises living standards at home.

Ways to teach your child about money, at different ages It’s no secret that some of us find handling our finances and talking about money quite tricky. However, the earlier in life you start thinking about money and having conversations about it, the easier it can be. If you’re looking for ways to get your child off to the best possible start for their financial future, here are some top tips from our experts, about important lessons you should impart to your child at different stages of their lives. Teaching toddlers about money We’ve all seen how much our little ones love to play shopkeeper. Give them a little till and some wooden produce and it can be surprising how diligent they are. This kind of play is a natural opportunity to introduce the concept of money and spending, ie the idea that items have different costs and require various coins. Try reversing the roles so you can play shopkeeper, too. Financial education for children Pocket money is the obvious solution here. However, children often value money they’ve earned over funds they’ve been given, so be sure to set up a system where money is a clear reward for hard work. For example, give them a set amount each time they make their bed or do their chores. These funds can be spent on regular treats, however also emphasise the importance of saving up for a larger purchase over time. When the day finally comes, make it clear that this item is theirs and theirs only, as they saved their money to buy it. It’s also hugely important to teach children about kindness and sharing, especially when it comes to those less fortunate than themselves. When shopping with their earned pocket money, encourage them to pick up an item or two extra and take it to a local food bank or good cause together, so they can see first hand how their donation will help. Handing the reins over to teenagers Once your child is old enough to open a bank account (and especially if they head off to university) it’s important to give them control of their own finances. The key here is to accept that they will make mistakes. With university in particular, they are faced with more money than they’ve been given in their lives and can choose what they do with it. You can be pretty certain, therefore, that they will manage it poorly, especially at first. When they inevitably pipe up with a plea for more, don’t give in. Suggest they get a part time job to support themselves and only give them small amounts to ensure they can get by if really needed. There are a range of money management apps out there which can help them track their spending, so they can see where they’re falling down. Be vigilant, too, about them seeking out quick access to cash, for example high interest loans. Instead, ensure you educate them about more financially savvy options, like an arranged overdraft (subject to status) on their current account. If you’re nervous about the kids flying the nest to uni, be sure to check out our student kitchen hacks. When it comes to teaching your children about money, our key takeaways would be to start as early as possible, always be open and honest and show that saving, spending and giving money wisely can be hugely rewarding. Published: 30 July 2019

You may have noticed the “EX” suffix appears a lot in the cryptocurrency niche? BitMEX, Poloniex, Bittrex, Goatsex, you name it. If it ends in EX, then it’s probably related to crypto somehow. “EX” is short for EXchange and there are literally tens of them, hundreds perhaps. Why so many? Perhaps the best way to illustrate why there are so many crypto exchanges is by giving a practical example. Johnny, a cryptocurrency enthusiast, bought his first Bitcoins in early 2010. BTC was really cheap back then, and he had tons of coins in the full node wallet he ran while mining new coins using his CPU. Those were the times! Then came Litecoin, Dogecoin and in just a few years Johnny was holding a bag of 10 or so different cryptocurrencies that were rapidly gaining dollar value. Your Own Bank at Home Suddenly, Johnny realized that he had become his own bank. He also noticed he had all the necessary open source software to run his bank for free! After reading Bitcointalk threads for some time, Johnny realizes that every cryptocurrency full node has a programmable interface embedded in it! The Bitcoin full node software can be easily programmed and so can the Litecoin, Dogecoin and just about every other wallet that forked from Bitcoin Core. And most of them work in a very similar way! They all share a common API – what software developers know as an “application programming interface”. While experimenting, Johnny programmed his Bitcoin node to send and receive Bitcoins whenever he sent it a secret command using his cell phone. He could now impress friends and family by sending them Bitcoins from anywhere using his phone! But what useful (and profitable?) applications could he create using the API? If your guess is that 9 out of 10 programmers like Johnny immediately thought of creating their own cryptocurrency exchange, then you’ve answered the question posed at the beginning of this article! What if you could interface your Bitcoin full node, running in your bedroom, to Paypal or some other fiat money payment gateway? Boom! You’ve built a fiat to Bitcoin exchange. That’s what BitcoinMarket.com did way back in 2010. Bitcointalk user dwdollar announced BitcoinMarket.com in January of that year and sparked a gold rush for wallet API developers. What about exchanging Bitcoin for other cryptocurrencies? Remember Johnny was holding a bag of several cryptos? Well…. Johnny buys a box of Club Mate and sits down to program his own crypto exchange. It creates one address per user using the wallet API for every specific cryptocurrency listed in the exchange. All he has to do is keep all these wallets running 24×7 and keep the database safe. This database tracks who owns which address from which cryptocurrency. The rest happens on the blockchain. When given a cryptocurrency address, users send funds to this address and the JohnnyEX system immediately updates the database with your new balance. When you wish to withdraw, the exchange sends a command to this wallet to send the funds back to you and the database is updated accordingly. When the user wishes to exchange one currency for another, JohnnyEX matches the top bid against the lowest ask. If they match, the trade happens and the database is updated accordingly. Just like Johnny created his own EXchange in his bedroom, so did tens of other talented programmers. Is it really that simple? It’s not as simple as just wiring up to a coin client program, but it’s not rocket science either. The main challenge in running your own exchange is to keep it secure from hackers. That’s where most exchanges have historically failed. Hackers can target the main wallet that receives and sends funds for a given cryptocurrency. Wallets may contain security flaws that specialized hackers will exploit. The database itself could be exploited by somehow changing the balances to add or subtract nonexistent amounts. Take MtGox as an example. One day MtGox’s creator, Mark Karpeles, was asking basic beginner questions on PHP programming language forums. A short time later he was running MtGox. This real life example shows how simple it is to interface any programming language to the wallet API’s. The API’s are easy to use, well documented (thanks Bitcoin Core team!) and anyone can program them using any general purpose programming language. Unfortunately, MtGox is also an example of poor information security and administrative practices. Whether MtGox was hacked or an enormous fraud, or a combination of both, the fact remains that thousands of people lost hundreds of million of U$ due to the MtGox collapse. DEX vs CEX MtGox illustrates a recurring problem with all centralized exchanges (CEX). Most exchanges we currently use are centralized. Which means that someone runs a central database (like JohnnyEX) that keeps track of balances, deposits, withdrawals and trades from one cryptocurrency to another. These exchanges are especially vulnerable to hackers, because they must keep large sums of cryptocurrency online in order to execute timely deposits and withdrawals. Enter DEX – decentralized exchanges. A DEX is a smart contract that accepts remote commands on the blockchain. A deposit would be a command accompanied by some amount of cryptocurrency. A withdrawal would be a command that would check the requesting addresse’s balance and, if all went well, would send this amount to the requester. Since the exchange runs on the blockchain, there’s no centralized database. Everyone holds a copy of the deposit and withdrawal amounts on their own copy of the blockchain. DEX Crosschain Traffic There’s an obvious problem with the above smart contract: it only runs on one blockchain. An Ethereum smart contract would be able to manage ETH along with any Ethereum-based token (ERC20 or newer). This is because all Ethereum tokens live on the ETH blockchain and the smart contract has access to data on its native blockchain. To be able to create a universal DEX, you’d need crosschain transactions. At the time of this writing there are many efforts to create reliable and secure crosschain interfaces. Until these interfaces are up and running, it won’t be possible to mix several blockchains into one smart contract. We hope this article answered your question as to why there are so many exchanges out there. Sure, there may be many cryptocurrency exchanges, but you should choose wisely. Early programmers enjoyed creating applications for their own wallets and most these apps involved some form of exchange with the outside world. The “EX” mania exploded in the early years of Bitcoin and derived cryptocurrencies and lots of these early experiments are still around. Programming your very own bank can be real fun. That’s the origin of so many exchanges – to have fun developing software for the cryptocurrency revolution! Crowded Market Photo Credit: Ville Miettinen from Helsinki, Finland by CC via Wikipedia

In its functional sense, a blockchain is the ledger or record base of an isolated cryptocurrency powered peer-to-peer network. The premise of a blockchain network is to create a room for a trusted and fluid interaction of nodes/users on a blockchain network. The Bitcoin blockchain is a practical proof to that premise. However, the crowning achievement of every technological innovation is large-scale mainstream acceptance. Why Blockchains Should Interoperate For an innovation that has gradually evolved into an industry, there is a growing and necessary need for the interactions of the various branches of the industry, which are spurring up by the day. In this adaptation for change, several improvements have been made in less than a decade. The Ethereum smart contract is one of such improvements, which created a breeding ground for the adaptation of this technology across several businesses. However, one major problem that is hindering the large-scale adaptation of blockchain platforms is their isolated nature. Fundamentally, Blockchain networks are built to be self-sustained. While this is a useful feature, one blockchain is usually limited, regarding its use case and token circulation. Due to this, an interaction with other blockchains to improve their collective utility will be a groundbreaking step. At the moment, third parties are often needed for the transfer of digital assets to other forms of assets, usually via a centralized exchange. This is fundamentally contrary to the cryptocurrency paradigm of an independent system. Sadly enough, these third parties have been the soft spot exploited by cryptocurrency hackers, repeatedly. Imagine how frustrating it would be if you could only spend or transfer your fiat funds within the network of a bank, and you needing a third party to transfer your funds from one bank to another. Alternatively, imagine always needing a third party to transfer a file generated on a Windows-powered device to a Linux-powered device. Given this problem, several blockchain based solutions are currently under development, although their approaches to this solution are different. The basic transfers that currently go on on these distributed ledgers is that of transaction and movement of assets, which are transported as digital data, with several authentication procedures for validation. However, as we have found, these assets or data are trapped within the walls of their blockchain. The Science of Blockchain Interaction Very recently, several proposed solutions have been proffered, but their practicability and applicability in real life scenarios have not been fully proven. At the moment, the tool used for this trans-blockchain data and token transfer function are sidechains. These sidechains are smaller blockchains, plugged into the main blockchain through a process called “two-way pegging.” This allows for the forward and backward transfer of tokens and data. Blockchains that Interoperate While this tech is in its infancy, here are some use cases that provide varied spins to this blockchain interoperability solution. The Aelf project provides smart contracting functionalities for the creation of decentralized applications. It does this through its mainchain, which has several sidechains connected to it. These sidechains can execute diverse smart contracting tasks while interacting with each other through the mainchain. Also, the Aelf network is compatible with external blockchains like Bitcoin and Ethereum. This blockchain is fundamentally built for the interaction of several blockchains. In what is termed inter-blockchain communication (IBC), the Cosmos network is one that provides a playing ground for several isolated blockchains, through the use of what is called parallel chains on the Cosmos system. The mainchain on this network is called the Cosmos hub, and the sidechains are called zones. The hub keeps an accurate, detailed record of what is stored in the various zones attached to it. This concept of zoning allows other independent blockchains to be plugged on the Cosmos hub, hence allowing for the transfer of assets without the need of an external third party. While these platforms seem like the most likely the solutions for the interoperability of blockchains, there are tendencies of data compromise in this sidechain process. Nevertheless, the good news is that there are several proposed solutions, and this technology is a growing one with several hands all working to improve this interaction.

A worn-out phrase in American classrooms everywhere is ‘joint-stock company.’ The concept first came into existence to describe companies that were made up of European businessmen seeking fortunes in the New World, but the phrase is generally presented to students without any sort of context. Placed in the context of financial history, joint-stock companies are just companies with buyable and tradable stock, the same as stocks you find listed on markets today. The history of joint-stock companies begins with the rise of complex banking systems, which traces back to biblical times when debt instruments like loans and repayment systems were created. The needs of empires and kingdoms for standardized taxation systems called for the minting of coins. Coins held value capable of replacing physical objects, allowing rulers to collect stand-ins for physical objects, rather than physical objects themselves. In the same way that coins acted as a replacement for cumbersome physical objects, stock acted as a replacement for ownership. Instead of a company being owned by a single person, inherently limiting the funding and growth of the company to that person, raising stock allowed for more than one person to increase funds, with earnings being divvied out proportionally at the end. This profitable system allowing for multiple investors, all investing jointly, created the backbone for modern stocks. The first well-known iteration of a joint-stock company existed in England, with the Company of Merchant Adventurers to New Lands. Another, more interesting name of the company chartered was “The Mystery, Company, and Fellowship of Merchant Adventurers for the Discovery of Regions, Dominions, Islands, and Places Unknown.” This company was made up of “adventurers,” which provides the etymological basis of “venture” capitalism. The company pooled together the funds of wealthy English investors, and with the signature of the Crown in 1553, set off to invest globally in trade. Eventually the company would change its name to the Muscovy Company, as that was where most of their business went, proving to the world that the model of the state-sponsored joint-stock enterprise was worth mimicking and reinventing. From there, the model was recreated first in Britain and then in other nations during the Age of Exploration. In terms of large-scale government-sponsored ventures, the Dutch, Danish, and English all formed their own East India Companies, and the English expanded further into other trading areas to allow for centralized competition against other merchants, seen in such ventures as the Levant Company and Morocco Company, among multitudes of others. The Dutch East India Company, unlike the others, was the first to be traded openly on a stock exchange, showing the type of competition and innovation taking place between the jostling nations within early markets that all had varying benefits and pitfalls. The common standard between these companies was the merging of the wealth of citizens and the power of governments, as governments were willing to give up their authority in exchange for the competency and capital of those willing to invest. For that reason, the Dutch and English reigned supreme, leveraging their expertise in free enterprise with the personal worth of their citizenry. Although the method of raising money was effective, the viability of the joint-stock company had many issues, the largest of which was that trade was also extremely centralized. In premodern Europe, the barrier to entry for a company to compete in international marketplaces was the guarantee of a powerful government. If the Crown were to endorse your voyage, you would receive both the positive aspects of the relationship such as increased security and international safety, but also the negative aspects which often equivocated tying assets to wars and privateering operations against the Crown. In addition, in a world before Adam Smith, nations ruthlessly competed with one another in winner-take-all struggles, which could easily and frequently edge on profit margins. For the most successful players, the Dutch and British, capital being raised outside of the centralized treasury meant less risk was taken on by the monarch, and instead spread amongst the citizenry. The other critical issue was that in an age where maps were still being drawn and areas were still being explored, the amount of information on hand, even for the savviest investor, was extremely limited and any sort of operation could lose the entire investment in a matter of years due to unforeseen issues. A notable example is the Scottish Darien Company, which drew capital from both wealthy and poor investors within the Kingdom of Scotland, with the Crown looking to invest its way to glory in the face of the ever-expanding English. In a matter of two years, the company, which was focused on placing a colony in Panama to facilitate trade in both the Atlantic and Pacific, failed miserably. Upwards of 50 percent of all liquid capital in the Kingdom of Scotland at the time had been lost in the venture, triggering the kingdom’s economic collapse. The calamitous adventure led Scotland to sign the Act of Union with England only a few years later, forfeiting its independence. Because of these issues, many of these companies tended to fail. Some never received pledged starting capital, many were outcompeted by other state-backed groups, and a few had poor plans of action that doomed the venture from the start. But with time, companies began to thrive, such as the British East India Company, which grew into such a beast that it conquered almost the entire Indian subcontinent. With the advanced financial mechanisms only seen on the European continent, empires were able to fund large-scale ventures that instigated and fed the industrial revolution, and the waves of colonialism that followed. Technological, cultural, and imperial innovation all begin with however much money is at disposal. To understand how the beast of Europe was able to expand into the rest of the world, people should first look to how they financed their growth.

The Home Insulation & Energy Systems Contractors Scheme (HIES) welcomed the findings on renewables. The report also showed that the amount of energy consumed was at its lowest level for 25 years, giving a clear indication that homeowners are influencing the market through how they use power. Based on government figures, the report from environmental analysis website Carbon Brief shows that the contribution from renewable energy has combined with energy efficiency measures to reduce the demand for electricity. “These figures are very encouraging,” says Adrian Simpson, director of policy for HIES. “We believe they show that consumers are growing increasingly astute in how they use electricity and that can only be a good thing. “From solar panels through to electric cars, more and more people are looking to alternative methods for cleaner, more cost-effective fuel. At the same time, homeowners are opting to upgrade older, inefficient appliances, such as fridges and vacuum cleaners, to the top A-rated electricals. “These changes, as well as large numbers of homes converting to low-energy LED light bulbs, has substantially lowered the demand for energy. They also help the government to meet reduced carbon emission targets. “It’s important that renewable energy sources continue to be combined with efficient appliances in order to maintain this trend of decreased electricity usage and the fact that consumers are getting more savvy bodes well for the future. “However, as positive as these figures are, it doesn’t mean that we can rest on our laurels. As an organisation, HIES will continue to lobby the government and key decision-makers in the industry to encourage further advancements in the use of renewable energy to cut UK greenhouse gas emissions.” Mr Simpson concludes: “We are dedicated to ensuring that consumers of renewable energy products are fully protected and that HIES-accredited installers are the cream of the crop. We’re also committed to working with our members to promote the benefits of the industry. “This study shows that by working together we can all help to achieve a bright future for renewables.”

Did you know that something called waste analytics could improve the efficiency of your company’s waste management near Atlanta? Whether you want to save money on trash pick-ups, find ways to reduce waste, or enhance your business’ green image, waste analytics can help. Waste analytics refers to data about waste generation, and this information can help you understand how your company impacts the environment and what your options are for making improvements. For example, by having concrete information about how much waste is produced, you will be in a better position to determine areas for improvement. Also, knowing what type of waste your business generates can help you decide if you would benefit from a commercial recycling program and, if so, what kind. Finally, by having a better idea of how much waste your company generates in a specific period, you can avoid scheduling trash pick-ups more frequently than you need them. For these reasons, there is a good chance that your business could benefit from waste analytics. Metal recycling benefits the environment and can also help your company save money. If you’re a business owner interested in taking advantage of industrial recycling in Atlanta , then keep reading to learn some of the facts you should know about non-ferrous metal recycling. The Characteristics of Non-Ferrous Metals Non-ferrous refers to any metals other than ferrous metals. Ferrous metals are metals and metal alloys that contain iron, for example, carbon steel and cast iron. Common non-ferrous metals include copper, zinc, tin, aluminum, nickel, and lead. However, precious metals like gold and silver are also non-ferrous. There is a broad range of consumer and commercial goods that contain recyclable non-ferrous metals, such as soda cans, electronic circuitry, car radiators, and airplane components. Non-ferrous metals are more malleable and resistant to corrosion and rust than ferrous ones, and they are also more lightweight, which makes them good options for products that require strength but for which weight is a concern. Lastly, non-ferrous metals are non-magnetic, which is why they are used for wiring and electronic circuitry. The Recycling of Non-Ferrous Metals Non-ferrous metals are particularly valuable when it comes to recycling because these materials do not break down or lose their properties during the process. These characteristics mean that non-ferrous metals can be recycled infinitely without losing their physical or chemical attributes. Although non-ferrous metals make up a relatively small portion of all metal that is recycled in the U.S., what is recycled accounts for a significant amount of metal recycling profits. Non-ferrous metal materials that are collected for recycling are transported to industrial consumers, such as refiners, foundries, and smelters, providing these entities with affordable and eco-friendly access to valuable non-ferrous scrap. These industrial consumers process the scrap metal, which is an energy-efficient alternative to processing raw ore, to create new products and begin the material’s life cycle anew. If your business produces non-ferrous scrap metal, then you might benefit from metal recycling services. If you’re like many people who are concerned about cutting back on waste near Atlanta , then you may be interested in learning what one city is doing to make the most of the trash it generates. Watch this video to get an introduction to something called waste-to-energy. The local government in Alexandria, Virginia partnered with an energy corporation to power more than 20,000 homes with a process called waste-to-energy. Despite recycling efforts, there is still a lot of waste that ends up in dumpsters. This process allows the area to burn their garbage for energy, rather than dump it in a landfill. Through innovation, they have stayed ahead of EPA regulations over the years, for example with new filtration technology for their furnaces, making this waste management process a promising one. When you are planning on remodeling your home, you may be faced with the challenging task of determining how to dispose of your excess demolition waste and construction materials. A dumpster rental near Atlanta may provide you with the ideal solution during your renovation. Since your remodeling project will only produce a temporary volume of waste, you can rent a dumpster for the timeframe of your project. Dumpsters are perfectly suited for disposing of renovation waste. Depending on the scope of your project, you can rent a compact dumpster or a large, roll-off container. Your dumpster will be delivered directly to your site, so you will not have to worry about transporting waste from your property. At the end of your project, your team of waste management professionals will be there to pick up your dumpster rental and haul it to the appropriate processing facility. If you are getting ready for an upcoming renovation, now is a great time to receive a quote for dumpster rental prices. Ferrous waste is a term that is used to describe any type of scrap that is primarily composed of iron or steel. If your business produces large amounts of ferrous waste, consider bringing your items to a facility that offers scrap metal recycling in Atlanta . Metal recycling can be used to repurpose ferrous waste and create brand new items. Your recycling center can even help you to create a waste management plan that provides you with scheduled pickups for your bulk ferrous waste. To help you implement a recycling plan for your business, read on to take a closer look at what you need to know about ferrous waste recycling. Ferrous waste comes from a variety of sources. Ferrous waste can be obtained from many of the most common objects and items that we use every day. Among the most common sources of ferrous scrap metals include old automobiles. Along with junk cars, ferrous waste also comes from household appliances, steel structural beams, and old transportation equipment. Ferrous waste is among the most commonly recycled materials. In fact, ferrous waste makes up the bulk of all of the various types of materials that are recycled in the United States. In a single year, ferrous waste recycling facilities process up to 72 million metric tons of iron and steel. Due to its renewable and reusable properties, ferrous scrap is a valuable part of the recycling industry. Ferrous waste must be processed at a dedicated facility. If you have extra scrap metal laying around your home or commercial property, you will need to bring your items to a facility that has the equipment required to process these types of materials. In order to process ferrous waste, a facility needs to put the raw materials into a powerful shredder. Once the iron or steel has been shredded, it can be melted down in order to create brand new products. Your recycling facility may also sort different types of ferrous waste into categories before it is shredded. When your business creates a new recycling protocol, it can take some time before all of your workers are on board with the plan. In order to recycle effectively, it is crucial for every member of your team to implement recycling practices, throughout the workday. With services from a company that offers waste disposal and recycling serving Atlanta, you will be able to set up a streamlined recycling program that integrates smoothly with the workflow of your business. If you want to get your recycling plan up and running, here are some steps that your business can take to boost your recycling habits. Place Recycling Bins In Strategic Areas If your workers are unsure of the location of your recycling bins, they will be much less likely to recycle their waste, throughout the day. As you are setting up your new waste management plan, take the time to determine strategic recycling locations, throughout your commercial property. When your bins are easy to find and access, they will promote proper recycling habits among all your workers. Create Clear Directional Signs The recycling process can be confusing for even the most seasoned of employees. To reduce uncertainty about what can and cannot be recycled in each bin, create bold signage that provides clear directions about how to recycle correctly. These signs should be placed throughout your work environment. After you have put up your signs, you may find that more of your employees are ready to start recycling. Designate a Special Area for Metal and Electronic Recyclables While recycling paper and plastic can be done through the use of individual recycling bins, larger items may need to be placed in a designated area. To ensure that your workers are able to recycle their old electronics and large metal items, create a designated space that can house these materials. A waste management company can schedule monthly pickups so that you do not have to worry about bringing these items to the recycling center. When you are looking for an effective way to reduce costs for your small business, consider creating a new waste management plan that includes recycling. By sending your disposables to the recycling center, rather than the dump, you can save money while also conserving your company’s resources. If you are planning on setting up recycling for your business in Atlanta , contact a company that offers recycling bins and trash pickup services. Here is an overview of three reasons why every small business should recycle. Eliminate Unnecessary Waste By implementing a recycling plan for your small business, you can start to focus your efforts on conserving the materials and supplies that are used for all of your daily operations. Once you start recycling, you may think twice before you throw out your printer paper or other supplies. Recycling will help to create heightened awareness about how waste prevention and material conservation can benefit every aspect of your business. As you are implementing your new recycling program, make sure to educate your employees about the importance of waste management. Encourage the Use of Recycled Materials From printer paper to shipping boxes and more, there are many different types of office supplies that can be crafted from recycled materials. When you recycle, you may be more likely to purchase new office supplies and items that have been produced from recycled goods. Purchasing recycled office supplies can help you to cut down on costs, and will also improve your overall waste management efforts. Help to Protect the Environment Along with saving you money and eliminating waste, recycling is also an important step towards helping to protect the environment. When you recycle your paper and plastic goods, you will be doing your part to conserve natural resources and prevent harmful materials from entering sensitive ecosystems. You can also use your new recycling program as a marketing tool. By advertising your company as a green business, you may attract more customers who are interested in protecting the planet. If your business uses waste management equipment, be sure to trust Southern Waste and Recycling for all of your maintenance and service needs. We proudly offer a range of services and repairs for balers, compacters, and other waste management tools. Whether you are in need of a dumpster in Atlanta, or you are seeking emergency repairs for your trash compactor, we will provide you with prompt and efficient services. To ensure that your compactor or baler remains up and running for all of your daily operations, consider signing up for our preventative maintenance program. When you rely on our company for preventative repairs, you can rest assured that your waste management equipment will remain up and running at all times. In the event of an emergency, we will also be on call to provide you with immediate repairs. Our trash service company is committed to the satisfaction of our customers, and we will restore your equipment to functional condition as quickly as possible. Scientific inquiry is a cornerstone of academic study at the undergraduate and graduate levels. As the operator of an academic laboratory, it is essential that you set up safe and sustainable waste management services for your facility. With services from a company that specializes in waste near Atlanta , you can schedule secure trash pickup services for the hazardous waste that is generated by your lab. Since academic labs create unique and varied amounts of hazardous waste, they are provided with some flexibility around scheduling their hazardous waste pickups. Depending on the size of your facility, you may be designated as a large, small, or very small quantity generator. At any designation, a hazardous waste generator must create a hazardous waste management plan that follows EPA guidelines. These guidelines state that hazardous laboratory waste must be removed from the site at least once every six months. All hazardous waste management plans should be authorized by lab managers or other trained professionals. Proper waste management is very important for businesses that generate hazardous materials as a part of their routine operations. If your business discards batteries, pesticides, or products that contain mercury, you are obligated to participate in the universal waste program that has been created by the EPA. A company that offers waste disposal and junk removal in Atlanta will be able to help you create a safe processing plan for the hazardous waste that is created by your business. To help you comply with EPA standards, here is a brief guide to what you need to know about universal waste. The Purpose of the Universal Waste Program In recent decades, the EPA has recognized that certain types of hazardous waste are frequently discarded by many different types of businesses and industries. In order to streamline the collection process and keep hazardous materials out of landfills, the EPA created the universal waste program. This program regulates the processing of hazardous waste collection, and also helps companies with the proper disposal of potentially toxic and harmful materials. The Types of Universal Waste Universal waste falls into a few, distinctive categories. Batteries are among the most common types of universal waste that businesses toss out every day. All types of batteries are considered to be hazardous once they have been placed in the trash. Other categories of universal waste include pesticides, as well as equipment and lamps that contain traceable amounts of mercury. All of these items need to be safely handled by a designated waste processing facility. The Categories of Universal Waste Participants A company’s participation in the federal universal waste program will be dictated by the quantity of hazardous waste that it handles every day. Companies that produce small amounts of waste are categorized as small quantity handlers. Larger organizations and companies that generate high volumes of hazardous waste earn the designation of large quantity handlers. No matter your designation, a waste management company will help you safely process your universal waste products. - Waste Management Atlanta - Waste Disposal and Recycling - Hazardous Waste Disposal - Chemical waste removal - solid waste removal - R3 Program - Sustainable Organizations - Sustainable Waste Removal - Commercial Waste Removal - Materials Management Program - Dumpster Rental - Roll Off Dumpsters - Construction Site Waste Removal - Recycling in Atlanta - Industrial Recycling - Industrial Waste Removal Services - Southern Waste & Recycling - Waste Removal Atlanta - Waste Specialists - Front Load Dumpsters - Rear Load Dumpsters - Reusable Electronics - Dump Truck Atlanta - Recyclable Electronics - Trash Compactors - Recycling Program - Office Recycling - Metal Recycle - Electronic Waste

It may seem hard to imagine, but solar power was used as early as 700 B.C. That’s when we humans figured out how to make fire by capturing and directing sunlight using a magnifying glass. A few hundred years later, Archimedes used a similar technique while at sea to defeat his opponents. Legend has it that he and his crew used mirrors to focus the sun’s rays onto enemy ships until they caught on fire. While they didn’t know it, they were on to something big. Today, we know that the sun is powerful enough to produce enough energy, in just one hour’s time, to fuel the world for a full year. Now that’s big. We also know how to harness that energy using solar technology – something that has improved dramatically with the creation of photovoltaic (PV) cells. The real kicker is that solar energy, unlike oil and coal, is completely clean – absolutely pollution free. What’s not to love, right? Well yes, except that early solar technology was far less efficient and more expensive than it is today – resulting in fewer people willing to make the switch. That’s about to change. Sunny skies ahead According to the U.S. Solar Market Insight Report, released by GTM Research and the Solar Energy Research Foundation, the U.S. installed 1,665 megawatts (MW) of solar PV in the first quarter of this year to reach 29.3 gigawatts (GW) of total installed capacity. That’s enough to power 5.7 million American homes. The solar industry also hit a significant milestone with more than 1 million individual solar installations nationwide. By year’s end, the industry is expected to double in size. While utility-scale installations will account for the lion’s share of this growth, the residential and commercial markets will also experience rapid expansion. There are a number of factors driving this growth. Perhaps the most significant is the decision to extend the federal Investment Tax Credit (ITC). The federal ITC provides a 30 percent tax incentive on all solar projects. While it was originally set to expire at the end of 2016, the program will live on. Other growth drivers include an increase in community solar projects, the availability of new financing options, lower costs for residential and small business customers, and the increased awareness of the benefits of clean energy. Solar power in New Jersey (NJ) If you live or work in NJ, there has never been a better time to invest in solar technology for your home or business. The state has one of the fastest growing markets for solar panel installations, thanks in part to the ITC. It won’t last forever, though, so consider making the switch now so you can enjoy savings for years to come, not to mention do your part to protect and preserve the environment. Ready to find out more? If so, the team at TerraSol Energies, Inc. is here to help. We are a family-run business that has served the solar needs of residents and business owners in New Jersey, Pennsylvania, and Delaware since 2009. We take pride in creating solutions designed to meet the individual needs of each of our customers. Don’t take our word for it, though. See what they have to say, and then contact us today.

International Journal of Applied Research Vol. 5, Issue 3, Part A (2019) Role and impact of goods and service tax (GST) in India Primary objective behind development of GST is to subsume all sorts of indirect taxes in India like Central Excise Tax, VAT/Sales Tax, Service tax, etc. and implement one taxation system in India. The GST based taxation system brings more transparency in taxation system and increases GDP rate from 1% to 2% and reduces tax theft and corruption in country. The purpose is to eliminate tax on tax. The paper highlighted the background of the taxation system, the GST concept along with significant working, comparison of Indian GST taxation system rates with other world economies, and also presented in-depth coverage regarding advantages to various sectors of the Indian economy. How to cite this article: Banashri T. Role and impact of goods and service tax (GST) in India. International Journal of Applied Research. 2019; 5(3): 25-31.

Today, many of us use the support of banks when they need cash. However, there is no hope that you will give away as much money as you borrowed. So how much more should be paid to the bank? Can it be counted at all? How do you check the total cost of a loan? What does the cost of the loan consist of? A loan, and therefore often simply a cash loan or consumer loan, is the provision of cash for a specified period of time . Today it is in this way that most money is borrowed for sudden expenses. Of course, you must be aware that when reaching for money from a bank or non-bank institution, you will have to pay for it. Commission and the cost of the loan So what does the loan or installment loan cost? Most often it is a commission . It is nothing more than a reward to the bank for having granted a loan. The commission can be one-off, and it can be included in the cost of each monthly installment. Importantly, the commission is expressed as a percentage. So it depends on the value of the loan. There is nothing to be deluded that if a bank offers a commission-free loan, it will actually be. Banks and non-bank institutions give nothing for free. So they will certainly compensate for the profit they could have had on the commission. How? For example, adding other fees. Interest on the loan The cost of the loan also includes interest. They are calculated on the outstanding debt based on the interest rate set out in the contract. However, it is worth knowing that the maximum amount of interest is limited by law. How to understand? Pursuant to the Act, the limit is calculated based on the reference rate. You can choose two types of interest. Constants and variables . The first does not change during the entire loan period. In turn, the variable interest rate depends on changes in interest rates. Other credit charges The cost of credit also includes what installments you choose. You can usually choose equal or decreasing installments, less often increasing installments. Very often, the cost of credit also includes insurance. The one that will secure the liability in the event of job loss, illness or death of the borrower. Sometimes the costs of credit should also include fees associated with the use of additional services. Although it is forbidden to require the customer to use them, they often condition the use of some promotion. How to calculate the total cost of the loan? And how to calculate the total cost of the loan? A rather complicated mathematical formula serves this purpose. It is definitely better to use the loan cost calculator when you have all the detailed information about a specific offer. The bank must provide all data. Being in their possession, you can easily calculate what costs you have to take into account when deciding on a specific loan.

Budget Reconciliation: The Basics What is “reconciliation”? Reconciliation is a tool – a special process – that makes legislation easier to pass in the Senate. How is it different from a regular bill? Instead of needing 60 votes, a reconciliation bill only needs a simple majority in the Senate. Reconciliation starts with the Congressional budget resolution. The budget cannot be stalled in the Senate by filibuster, and it does not need the President’s signature. If the budget calls for reconciliation, it tells certain committees to change spending, revenues, or deficits by specific amounts. Each committee writes a bill to achieve its target, and if more than one committee is told to act, the Budget Committee puts the bills together into one big bill. That combined bill has special status in the Senate. Like the budget, it cannot be filibustered, and only needs a simple majority to pass. Why not use it for everything? Other special rules, which are designed to protect the rights of the minority party, apply to reconciliation bills. Only policies that change spending or revenues can be included. Senate debate time is limited, and only certain kinds of amendments can be offered. For example, the Social Security program cannot be changed in reconciliation. Budget reconciliation provides a fast-track process for consideration of bills to implement the policy choices embodied in the annual Congressional budget resolution. During the 115th Congress, Republicans have used this tool twice to pursue their policy goals. This report summarizes the reconciliation process and the recent history of its use. In its annual budget resolution, Congress sets total spending, revenues, the surplus or deficit, and the public debt. The budget may also include reconciliation instructions. These instructions direct one or more committees to recommend changes to existing law to achieve specified changes in spending, revenues, deficits, and/or the debt limit. Instructed committees can comply with their targets by making changes to any of the programs under their jurisdiction. In the Senate, the resulting reconciliation bill incorporating those proposals is considered under expedited procedures that limit debate and amendments. Like the budget resolution, a reconciliation bill cannot be filibustered in the Senate and therefore needs only a simple majority to move to a final vote. However, there are limitations on the substance of what can be included in a reconciliation bill, although a 60-vote majority in the Senate can override any objections. How Reconciliation Works in the House Each instructed authorizing committee drafts recommendations for spending and/or revenue changes in a manner subject to its committee rules and the rules of the House. For example, the House rule on germaneness is enforceable in committees. Committees may not adopt rules only allowing consideration of deficit-neutral or deficit-reducing amendments, even pursuant to a unanimous consent request. In meeting its reconciliation instructions, a committee may choose to increase costs in some areas as well as reduce costs in others, so long as the net budgetary effect of a committee’s proposals complies with its instruction. Authorizing committees submit their recommendations for spending and/or revenue changes to the Budget Committee, where the separate measures are packaged and reported to the floor (when only one committee has instructions, that committee reports its measure directly to the floor). The Budget Committee cannot make substantive changes to the recommendations, even if the committees fail to meet the targets specified in the reconciliation directive. Amendments to Reconciliation on the House Floor Any House Member may ask the Rules Committee to allow amendments to the reconciliation package on the House floor. The Rules Committee historically has been receptive to amendments proposed by the Chair of the Budget Committee, which generally reflect leadership views. The Budget Committee markup of the reconciliation recommendations generally includes non-binding motions offered by the minority to instruct the Committee Chair to ask the Rules Committee to make specific amendments in order on the floor. In the past, the Rules Committee has made the Budget Committee Chair’s amendment in order, sometimes incorporating it into the measure through a self-executing rule. Under the Congressional Budget Act, amendments that worsen the deficit relative to the underlying bill are not allowed on the House floor unless the rule for the bill waives the point of order. All amendments must also be germane to the underlying bill unless the rule waives the germaneness point of order. If House Committees Do Not Comply with Reconciliation Instructions While there are no penalties or points of order for failing to comply with the fiscal targets in the reconciliation directives, authorizing committees generally do make the required changes. If they do not, the House Rules Committee could make in order an amendment that achieves the target in a way that is counter to the wishes of the authorizing committee. Note that the budget resolution’s reconciliation targets apply to the initial recommendations from the committees and not to the reconciliation conference agreement, which may contain larger or smaller changes in spending or revenues. Benefits of Reconciliation in the Senate The reconciliation procedures in Senate committees are similar to those in the House. In the Senate, however, reconciliation bills are subject to expedited procedures during floor consideration, as well as specific limits imposed by the so-called “Byrd rule” (which is described further below). The first major benefit is that debate on a reconciliation bill or reconciliation conference report is limited to 20 hours, so it cannot be filibustered on the Senate floor. The practical effect is that the bill can be passed with a simple majority vote, in contrast to most legislation, which requires a 60-vote supermajority to invoke cloture and limit debate. After time for debate has expired, Senators may continue to offer amendments, but they are not debatable. This is colloquially referred to as “vote-a-rama.” Second, amendments to a reconciliation bill must be germane, which is normally not the case in the Senate. Third, with only a few exceptions, amendments to a reconciliation bill on the Senate floor cannot increase the deficit; they must either lessen the deficit or be deficit-neutral. One exception is that amendments striking an entire provision are always in order, even if the provision being removed saves money. In the Senate, if the reconciliation bill fails to comply with a committee’s target, there is a procedure to allow non-germane floor amendments to bring the bill into compliance with the reconciliation instructions. Limitations of Reconciliation in the Senate – the Byrd Rule Named for Senator Robert Byrd, the Byrd rule (Section 313 of the Congressional Budget Act) was first adopted in the mid-1980s to limit extraneous provisions from inclusion in reconciliation bills. Because reconciliation bills are considered using expedited procedures in the Senate, the Byrd rule is aimed at preventing the use of reconciliation to move a legislative agenda unrelated to spending or taxes, and to some extent it limits Congress’ ability to use reconciliation to increase deficits – at least over the long term. The Byrd rule prohibits the inclusion of “extraneous” measures in reconciliation, defining “extraneous” as follows: - measures with no budgetary effect (i.e., no change in outlays or revenues); - measures that worsen the deficit when a committee has not achieved its reconciliation target; - measures outside the jurisdiction of the committee that submitted the title or provision; - measures that produce a budgetary effect that is merely incidental to the non-budgetary policy change; - measures that increase deficits for any fiscal year outside the reconciliation window; and - measures that recommend changes in Social Security. Any Senator may raise a point of order against an extraneous provision in the reconciliation bill, amendments, or the conference agreement. The Senate Parliamentarian decides whether there is a Byrd rule violation, and provisions struck through a Byrd rule point of order cannot be offered later as amendments. However, Byrd rule points of order can be waived by a vote of 60 Senators. In addition to the Byrd rule limitations, just as in the House, amendments that worsen the deficit relative to the reported reconciliation bill are not allowed in the Senate. Reconciliation bills are subject to other Senate points of order, like the Senate PAYGO rule, that apply to all legislation. Reconciliation Conference Agreement Procedures As noted above, a reconciliation conference agreement is not bound by the original reconciliation instructions. Technically, neither the House reconciliation bill nor the Senate bill is bound by the targets, but the threat that the Budget Committees or someone else could propose floor amendments bringing the bills to their targets has historically given authorizing committees the incentive to meet the targets themselves. That threat does not apply to conference agreements, which cannot be amended on the floor. However, even though a conference agreement cannot be amended, it is still subject to Byrd rule requirements in the Senate. Thus, although the Byrd rule does not apply in the House, it constrains what can be included in the reconciliation conference agreement. A provision violating the Byrd rule can be struck from the conference agreement on the Senate floor unless 60 senators vote to waive the point of order. Stripping a provision due to a Byrd rule violation does not mean the conference agreement is defeated, just that the agreement will be sent to the House without the stripped provision. Since 1980, Congress has sent 25 reconciliation measures to the President – 4 bills were vetoed and 21 enacted – primarily legislation that reduced the deficit through cuts in mandatory spending or increases in revenues. However, beginning in the early 2000s, Republican Congresses began to routinely use reconciliation to increase the deficit, enacting major tax cuts without offsetting the revenue loss in 2001, 2003, and 2006. When Democrats took control of the House in 2007, House rules were changed to allow reconciliation to be used only for deficit reduction. Republicans changed that rule in 2011 to disallow spending increases but permit revenue losses. That rule change allowed Congress to again use the reconciliation process to increase deficits, which the Republican majority did in 2017. In the 115th Congress, Republicans used reconciliation to enact their tax law. In the final months of 2017, the House and Senate approved a reconciliation measure (H.R. 1) to cut taxes mostly for the wealthy and corporations and to eliminate the penalty for not having health insurance. The Congressional Budget Office estimated at the time that the legislation would add $1.5 trillion to federal deficits over 10 years. President Trump signed this legislation into law on December 22, 2017. Earlier in that same year, Republicans attempted to use reconciliation to dismantle the Affordable Care Act. The House approved a reconciliation measure (H.R. 1628) to repeal major provisions of the health care law and cap federal funding for Medicaid, but the Senate failed to get the needed votes to advance a bill. The 2016 budget resolution conference report included a point of order in the Senate against using a reconciliation bill to raise the debt limit. The Congressional Budget Act defines reconciliation bills that include changes to Social Security as out of order, however. Even if the underlying bill achieves greater savings than the budget resolution instructed, amendments that worsen the deficit are not permitted in the House. Section 3206 of the 2016 budget resolution conference agreement includes a provision applying the House rule to the Senate. See Congressional Research Service Report R40480, “Budget Reconciliation Measures Enacted into Law: 1980-2017.”

If you have a starting amount and you want to add a percentage, simply multiply the percent by the original amount to find the amount that gets added. For example, if you need to calculate how much sales tax or tip to add to the bill. But if you only have the final amount know the percentage added, you need to work in reverse to find the original amount. For example, if you had the final cost and the percentage of sales tax and you want to know the cost before tax. Convert Percentage to Decimal Add 1 to Decimal Divide Final Amount by Decimal Subtract Original Amount From Final Amount Divide the percentage added to the original by 100. For example, if a sales tax of 6 percent was added to the bill to make it $212, work out 6 ÷ 100 = 0.06. Add 1 to the percentage expressed as a decimal. In this example,work out 1 + 0.06 = 1.06. Divide the final amount by the decimal to find the original amount before the percentage was added. In this example, work out 212 ÷ 1.06 = 200. The amount before the sales tax was added is $200. Subtract the original amount from the final amount to find the amount added. In this example, work out 212 - 200 = 12. You now know that $12 was added.

Flashcards in Governmental Accounting Deck (54) What are the three major types of funds in governmental accounting? Governmental, Proprietary, Fiduciary Which two accounting bases are used in governmental accounting? Accrual basis - current economic resources focus (revenues recognized when earned) Modified accrual basis - current financial resources focus (revenues recognized when available and measurable) What is a budget appropriation? The highest amount allowed for a particular expenditure under a budget. What is an encumbrance? Records purchase and reserves it for the encumbrance. What is the opening budgetary entry? Dr Estimated Revenues Control Cr Appropriations Control Dr/Cr Budgetary Fund Balance (plug) What is the closing budgetary entry? Dr Appropriations Control Dr/Cr Budgetary Fund Balance (plug) Cr Estimated Revenues Control What are the types of governmental funds? Special Revenue Fund Capital Projects Fund Debt Service Fund What is a General Fund? The operating fund of the governmental unit Records Significant Revenues: Taxes; Tickets; Fines; Licenses Records Significant Expenditures: Police; Education; Fire Dept What is a Special Revenue Fund? Restricted for a specific purpose such as street repair. What is a Permanent Fund? Legally restricted fund; where only earnings can be used to fund programs. Principal remains intact. What is a Capital Projects Fund? Used to acquire and build facilities. What is a Debt Service Fund? Handles repayment of long-term debt and related interest. Which fund statements are issued in Governmental Accounting? Statement of Revenues; Expenditures; and Changes in Fund Balance When is Revenue recorded in Governmental Accounting? When it is BOTH available and measurable; regardless of when it is spent. What is Derived Tax Revenue? Money collected from people doing things: Sales tax (buying cars) or income tax (people working) What is Imposed Tax Revenue? Tax assessed just because things exist Example: property tax on a car (even if it's never driven); real estate tax Recorded as a revenue when BUDGETED. Estimated uncollectible property tax revenues don't offset revenues; so don't net them. What are the types of Proprietary Funds? Internal Service Funds - to serve the needs of other governmental units (i.e. motor pool) Enterprise Funds - provide goods or services to external users (i.e. post office) What are the Fund Balance Types? Restricted - Restricted by Contributor Committed - Restricted by Government Assigned - Intended for a purpose Unassigned - Available to be spent Non-spendable - Not in a spendable state What are the types of Fiduciary Funds? Agency Fund - government acts as an agent or custodian Pension Trust Fund - Government is a trustee for a pension plan Investment Trust Fund - Government is a trustee over a series of investments Private Purpose Trust - Trust that benefits various individuals and entities How are Assets & Liabilities presented on the Statement of Net Position? Assets (Current & Non-Current) Deferred Outflows of Resources Liabilities (Current & Non-Current) Deferred Inflows of Resources How are Capital Assets shown on a governmental Statement of Net Assets? They are shown net of debt Asset Cost - Accumulated Depreciation - Asset Liabilities : Net Assets How is infrastructure reported on a governmental Statement of Net Assets? Reported at cost; no accumulated depreciation How is a Statement of Net Assets divided? Into Governmental Activities and Business Activities How are activities presented in a Statement of Activities? They are divided by function If the activities of a component are distinguishable from the rest of the governmental entity; then discreet presentation is required If the activities of the component cannot be identified and separated from the rest of the governmental activities; then blended presentation is warranted. Component units are reported in the Entity-Wide Financial Statements and not the Fund Financial Statements. What is the primary objective of governmental accounting? To provide information that is useful and benefits a wide range of users including: Costs of services provided Sufficiency of revenues to cover costs Financial position of entity What Financial Statements are required for Defined Benefit Pension plans? Statement of Fiduciary Net Position and Statement of Changes in Fiduciary Net Position What are the components of the Statement of Fiduciary Net Position for Defined Benefit Pension Plans? Assets; Deferred Outfows; Liabilities; Deferred Outflows; Fiduciary Net Position What are the components of the Statement of Changes in Fiduciary Net Position for Defined Benefit Pension plans? Additions (Contributions and Net Investment Income) - Deductions (Benefits Payments and Admin Expense) : Net Change in Fiduciary Net Position What should be included in the Financial Statement notes for Defined Benefit Pension Plans? Types of Benefits; Plan Member Classes; Board Information; Investment Policies and FV Determination Government Wide Financial Statements Statement of Net Position Statement of Activity Fund Financial Statements (Governmental Funds) Statement of Revenues Statement of Expenditures Changes in Fund Balance Statement of Net Position Statement of Revenues Statement of Expenses Changes in Fund Net Position Statement of Cash Flows Examples of Deferred Outflows of Resources Grant Expenditures paid in advance of meeting timing requirements Deferred amounts from refunding of debt (debits) Cost to acquire rights to future revenues Negative fair value of government hedge of a future transaction Examples of Deferred Inflows of Resources Grant amount received in advance of meeting timing requirements Deferred amounts from refunding debts (credits) Proceeds from sale of future revenues Positive fair value of government hedge of a future transaction Examples of Items that Continue to Be Reported as Assets Net Pension plan position in excess of employer's total liability Capitalized incurred costs for regulated activities Examples of Items that Continue to Be Reported as Liabilities Advances of derived tax revenues Receipt of prepayment Loan commitment fees Refunds imposed by a regulator Examples of Items Reported as Current Outflows Debt issuance costs Initial direct cost incurred by lessor for operating leases Fees related to purchased loans Examples of Items Reported as Current Inflows Loan origination fees related to lending activities Commitment fees charges to make a loan Loan origination fees for mortgage loans held for investment Define Agency Fund Accounts for resources held by the reporting government in a purely custodial capacity. Define Capital Projects Fund Accounts for financial resources that are restricted, committed, or assigned to expenditures for acquisition or construction of capital assets. Define Component Unit A legally separate organization for which the elected officials of a primary government are financially accountable. Define Debt Service Fund Accounts for resources that are restricted, committed, or assigned to expenditures for the payment of general long term debt principal and interest. Define Enterprise Fund Accounts for activities that involve providing goods or service to external users for a fee. Define Fiduciary Funds Accounts for resources held and used by governments for the benefit of individuals and entities other than the government. Fiduciary funds include agency funds, pension and other employee benefit trust funds, investment trust funds, and private purpose trust funds. Define Infrastructure Assets Long lived capital assets that normally are stationary in nature and can normally be preserved for a significant number of years (eg. roads, tunnels, bridges, etc.) Define Governmental Funds Account for the current financial resources raised and expended to carry out general government purposes. Governmental funds include the general fund, special revenue funds, debt service funds, capital projects funds, and permanent funds. Define General Fund Accounts for all financial resources except those required to be accounted for in another fund. Define Internal Service Fund Reports activities that provide goods or services to other funds of the primary government on a cost reimbursement basis Define Investment Trust Fund Reports the external portions of investment pools, when the reporting government is the trustee Define Permanent Fund Accounts for resources that are restricted to the extent that only earnings and not principal may be used to support specified government programs Define Proprietary Funds Account for a government's business type activities. Proprietary funds include internal service funds and enterprise funds. Define Special Revenue Fund Accounts for specific revenues that are restricted or committed to expenditures for specific current purposes other than debt service or capital projects What is the basic criterion used to determine the reporting entity for a governmental unit?

Financial reporting is your main source of information to understand the financial health of your business. A healthy financial can guarantee your business will keep on growing in the future. Otherwise, you need to evaluate your business performance. Financial reporting also a form of responsibility of the company owner or management to the investors, government, and many others. That’s why your financial reports should be highly accurate. To achieve the highest accuracy, your financial reporting needs to have its main components. Here are four of them: The income statement is the most important component in your financial reporting. This component presents a detailed breakdown of your company’s profit (or loss) in a certain period. There are two subsections in the income statement. The first is the one that shows the gross profit (or loss). To get this number, you can subtract the total income with the cost of goods sold. The cost of goods sold is the opening stock plus net purchases minus the closing stock. The second subsection in the income statement is the net profit (or loss) of your company. The amount of net profit/loss can be generated from subtracting the gross profit/loss with the operational costs, such as salaries, taxes, rents, and many others. Related article: 4 Types of Financial Statements Every Business Owner Should Know The balance sheet is the part of financial reporting that portrays the ability of your company to honor your debt and obligations compared to the company’s total assets. You can start by recording non-current assets such as computers/laptops, machines, and office furniture. Thereafter, current assets also have to be recorded. Current assets such as inventory, accounts receivable and cash. Non-current liabilities such as debt financing and current liabilities such as trade payables and bank overdrafts also needs to be recorded. In essence, the balance sheet summarizes your company’s equity position in a certain period. The next component of financial reporting is cash flows. It summarizes your company’s inward and outward cash movements. The inflows and outflows of money can be generated from operations, investments and financing activities. Cash flows generated from operations focus on day-to-day activities in your company. Sales and inventory purchasing categorized as the company’s operation. Investments related to the incomes and expenses generated from long-term programs of projects. While financing is the cash flow related to the sale of shares and distributions of dividends. Changes in equity The last component of financial reporting is the changes in equity. The component reports the amount and sources of equity changes. Any changes during a certain period can be monitored from the increase or decrease of the beginning balance compared to the ending balance. This component initially reports the equity compositions which keeps changing from time to time. Related article: Year-End Accounting Tips for Healthy Business Finances Creating a financial report is not an easy job if you still do it manually. But, with the help of accounting software, the process can be done swiftly and easily. Accounting software also minimalizes the error during data input or calculation. This advanced technology can help you create a better and more accurate financial report.

– Teresa Madaleno: Business, science and political leaders are calling for huge investment in mechanisms that will help us adapt to climate change. This according to a report recently released by The Global Commission on Adaptation. The 81-page document, includes contributions from many well-known figures, including Microsoft co-founder Bill Gates and former U.N Secretary-General Ban Kimoon. They urge both governments and businesses to address the impacts of climate change now. The report calls for investing $1.8 trillion US from now through to 2030 in early warning systems, infrastructure, agriculture, and water resources. It goes on to outline that such an investment could generate $7.1 trillion US in total net benefits. The collective sentiment is that when prepared, countries can reduce the damages that climate events normally cause. For instance, after hundreds of thousands of people died in Bangladesh cyclone’s in 1970 and 1991, the nation upgraded flood defences, built adequate shelters, and trained hundreds of volunteers, thus reducing the death toll in subsequent climate events. Some experts suggest that if we delay adaptation much longer, we will pay a very high price. The upside to adapting If adaptation is done correctly, the report indicates that it will mean better growth and development, as well as better protection for nature. Since poor nations are less equipped to deal with the fallout of floods and drought, adaptation will reduce inequalities and create opportunities as well. Adaptation will also address the issue of climate refugees. A climate refugee is someone who has been displaced from their home due to a climate event. A World Bank Report released in 2018 suggested that by 2050, there will be 143 million climate change refugees driven from Latin America, sub-Saharan Africa, and southeast Asia alone. Proper infrastructure can reduce this problem. Since the economy is a main focus, due to the worldwide pandemic, it is worth noting that The Commission suggests that adapting now is in “our strong economic self-interest”. The leaders report that the overall rate of return on investment in adaptation is high, with the benefit-cost ratio sitting between 2:1 and 10:1. The Global Commission on Adaptation is really a call-to-action. While businesses and policy leaders are being urged to act, all of us are asked to do our part as well. You can join in the call-to-action by taking a picture of your favourite place, person, or thing and share it on social media. Use #AdaptOurWorld.

Supply chain management (SCM) is the control of fluid movement and storage of goods from raw materials to the final finished product. Usually, this is done by an operations manager in the company. He/she oversees and ensures the supply chain is continuously working with little to no mishaps. The supply chain could potentially hurt or benefit a business if it is not well managed. For this reason, it should be properly maintained for a company to have maximum output. Check out PTI QCS, one of the firms offering supply chain services. So, what are some of the benefits linked with supply chain management? Supply chain management ensures delays are brought to a minimum by employing tactical measures such as predictive analysis of demand. During seasons such as Christmas, the demand for goods experiences a spike. A good supply chain manager will adequately advise the company to increase production to accommodate the peak and avoid delays in production and low sales. For a product to be in its final state and ready for consumption, many parties play a role in fulfilling this process. Starting from the transportation firm, marketing, storage facilities, wholesalers, and retailers. All these people cooperate to ensure a working industry is kept alive. Increases the Efficiency Levels Incorporating supply chain management assists an organization in productivity. The chain stipulates at what stage a particular process is supposed to happen. Hence, everyone in the chain has their work clearly cut out to ensure the process goes smoothly with no misfortunes. The output is destined to increase when SCM is incorporated. A good example is when a firm that deals with manufacturing bread has proper supply chain management. The firm can make more bread if they build channels of distribution to the average consumer. The channels include timely delivery, proper marketing, and sourcing of raw materials for making the bread. Enhances the Supply Chain Similar to how muscles work, the more you exercise your SCM, the more it is likely to grow and become stronger. In this case, the supply chain is improved, the more it is in use. Professionals come up with strategies to minimize resources and maximize output. The supply chain management is fundamental, especially if a business wants to grow consistently. Companies need to ensure that their supply chains are constantly developing for them to experience corporate success in their respective industries.… If you know the concept of risk in business, you realize that motor trade cover is an essential service for businesses which deal in buying and selling motor vehicles. However complicated it may be, all businesses that deal in motor trade need to understand motor trade insurance properly. What is motor trade insurance? A motor trade insurance cover provides compensation whenever the policyholder experiences financial loss due to the lose or damage of his or her cars. It also covers other risks such as accidents. Motor trade insurance is available to car dealers and other motor-related businesses. Types of motor trade insurance policies There are several types of motor trade insurance policies. Some, like the road risk motor trade cover is compulsory to all car dealers. Others like the Combined Motor Trade cover provides more features on top of road risk cover. For instance, there are options for insuring your buildings and machinery. You also may insure against business interruption due to certain occurrences. There is also a product liability cover which safeguards the policy holder from the supply of faulty products from manufacturers. It is important to note that these policies are not just for car dealers. Owners of garages, Ministry Of Transport centers, and Car valeters are also eligible to apply for these policies. Whatever kind of motor trade you are involved in, you need a motor trade insurance policy that will keep your business running smoothly. On top of these policies that are particular to the motor trade, you also need employer’s liability insurance, public liability insurance and property insurance cover among other covers depending on the exact description of your business activities. Understanding each motor trade policy Each of the policies mentioned above has elaborate descriptions, conditions, and limitations. You should get help from your insurance lawyer or motor trade insurance broker in understanding and interpret the policy document before you sign it. For instance, you need to understand the various levels of covers specified in the road risk insurance cover. The level of cover can be the third party only, third party fire & theft or comprehensive. Note that the description of these levels of cover may differ from one policy to another. Choosing the right motor trade insurance provider It is not always easy to know which motor trade cover provider will give you value for your money. As a policyholder, you are interested in the insurance company that will provide the cover at the lowest premium rates possible. Get in touch with a motor trade insurance provider who is registered and licensed to operate in the UK. Make sure that you consider the claim payment history of the specific company to ensure that you don’t get into a contract with an insurance company that rarely pays claims. In summary, the motor trade insurance cover is a bit more complicated than other areas of the automotive industry. There are several options to consider. There are also several variations of the policies offered to motor traders. It gets even more complicated when issues like age, trade plates, the number of drivers covered by a single policy and restrictions come into play. For you to have all the information regarding motor trade insurance at your fingertips, you need advice from knowledgeable motor trade insurance agencies.…

Fiscal planning is a kind of business planning that runs according to a fiscal financial year. With fiscal planning, the year that the accountant or planner calculates on is not the traditional calendar year that starts on January 1. Using the fiscal year, business leaders can engage in fiscal planning to help them with various aspects of corporate or small business accounting. Businesses of all sizes undertake fiscal planning for a variety of reasons. Some use it to mitigate some of their tax liabilities. Others find it easier to calculate revenue according to their most lucrative seasons, or use a fiscal year based on annual industry trends. Regardless of why businesses use fiscal planning, many world governments consider it a normal part of business accounting, and anticipate that the reports coming from various businesses will be structured according to a fiscal year. Other aspects of the fiscal year allow for more precise cancellations for a given period of time. For example, some businesses use the fiscal year so that their accounting year can always end on the same day of the week. In this situation, a fiscal year might have a varying number of weeks to conform to the calendar year over the long term, where some fiscal years might be composed of 53 weeks, and others composed of 52 weeks. This kind of alternative calendar setup is somewhat similar to payroll systems that pay out to employees with 26 pay periods per year, rather than calculating according to the calendar year, and handing out two paychecks per month. Different nations have different norms for the fiscal year. In the United Kingdom, fiscal planning might include a year that goes from April 6 to April 5. In the United States, the conventional fiscal year is from October 1 to September 30. Each country has their own rules about how fiscal planning can affect annual tax returns for a business, and what kind of financial reporting is acceptable in various regulatory systems where business leaders have an obligation to disclose aspects of their internal accounts to governments or to the public. In general, lots of professionals in human resources or other areas see fiscal planning as part of a modern convention that recognizes some of the trickier aspects of calculating business revenues and expenses. Many aspects of business have been significantly modernized in the last century, from payroll to capital investment; that helps a business to augment its returns from products or services, which are core elements of the business. Even small businesses are often pursuing greater complexity using modern software tools, accessible third-party accounting services, and other “financial labor saving” methods. Items like fiscal year planning are likely to be taught in small business education programs to help business start-up leaders acquire the skills and knowledge that are common to those in leadership positions at more established corporate businesses.

Globalization refers to the process of Integration across societies & encompasses the flow of product, services, labour, finance, information & ideas moving across national borders. The frequency & intensity of the flow related to the upward or downward direction of Globalization as a trend. Globalization is arguably the most important factor currently shaping the world economy. Although it is not a new phenomenon the changes it is bringing in now occur far more rapidly, spread more widely & have a much greater business, economic & social impact than ever before. Globalization is best thought of as a process that results in some significant changes for markets and businesses to address: For example, An expansion of trade in goods and services between countries (an opportunity for many businesses; a threat for others)It can be an increase in transfers of financial capital across national boundaries including foreign direct investment (FDI) by multi-national companies and the investments by sovereign wealth funds (e.g. Middle Eastern governments buying assets in the UK). A key result of globalization is the increasing inter-dependence of economies. For example: Most of the world’s countries are dependent on each other for their macroeconomic health. Many of the newly industrializing countries are winning a growing share of world trade and their economies are growing faster than in richer developed nations. All countries have been affected by the credit crunch and decline in world trade, but many emerging market countries have slowed down rather than fall into a full-blown recession. There is popular notion that there has been an increase of Globalization since the early 1980’s however comparison of the period between 1870 and 1940 the post-world war II era indicates degree of globalization in earlier part of the century than the latter half. Globalization is a growing trend with a predominance of global economic integration that leads to greater interdependency among nations. Between year 1990 and 2011 total output of export and imports of goods as a proportion of GD rose from 32.3% to 30.9% of 37.9% in developed countries and 33.8 % to 48.9% for low to middle income countries. From 1990 to 2013, international trade export rose by 3.42 to 7.3 trillion hence the general direction of globalization is growth that is unevenly distributed between wealthier and poorer countries. By Dr Suvarna Deshpande, Associate Professor, ISBS

So now that we know what a percentage is, how is it used? Let’s look at some sample percentage problems. Melbourne’s Silvan Reservoir has a capacity of 40,446 ML(megaliters). Currently, it is 88% full. How much water is in the reservoir? In other words, what is 88% of 40,446? Whenever you see or interpret a problem where you need to take a percentage “of” something, equate the word “of” with “multiply”. So to take 88% of 40,446, we multiply 40, 446 by 88%. If you do this on a calculator, you need to use the decimal equivalent of 88% which is 0.88 (see my previous post). On some calculators, there is a percent key. On these, you can type 88 which the calculator will interpret as 0.88 when you use that key. Regardless of which calculator you use, when you multiply 40, 446 by 88%, you should get 35592.48 ML. If you do not live in Melbourne, the above problem does not interest you much. As money is of interest to most everyone, let’s look at some typical money related percentage problems. Since DavidTheMathsTutor has effectively educated the masses on how to use percentages, calculators with percentage keys are no longer in demand. So a store has discounted the normal $24.95 price of these calculators by 30%. What is the new price? This is a two-step problem: first find what the amount of the discount is, then subtract it from the original price. The amount of the discount is 30% × 24.95 = 0.3 × 24.95 = $7.48 (rounded to 2 decimals as we are talking about money). So the store is taking $7.48 off each calculator. So the new price is 24.95 – 7.48 = $17.47. On the other hand, again because of DavidThe MathsTutor, there is a big demand on fancy calculators that do all sorts of mathematical things like graph equations. So the store decides to markup the normal price of these calculators by 25% to make up for the loss of the percentage calculators. The normal price of these are $149.50 each. What is the new price? Again, a two-step problem, but this time you are find the amount of the price increase, then add it to the original price since this is a markup. The amount of markup is 0.25 × 149.50 = $37.38. So the store is increasing the price by $37.38, so the new price is 149.50 + 37.38 = $186.88. Many times, you need to calculate the original price. For example, you are looking to buy a car. The sticker says $24,500. The salesperson says that’s a good price because they are only making a 5% profit on it. What is the cost of the car to the store? This is a reverse markup problem: what price plus 5% of that price is $24,500? In equation form, that is the equivalent maths sentence, this is x + (0.05 × x) = 24,500. If you remember my posts on equations, factoring, and the distributive property, this is solved by factoring the left side and then dividing both sides by the number that results from the factoring:\[ If you knew the cost to the store was $23,333.33 and knew that they marked up that cost by 5%, if you calculated the new price as we did before, you would get $24,500. Sometimes you need to calculate the actual percentage. What if your salary went up from 88,000 to 99,000? What percentage pay rise is this (so you can brag to your friends)? The amount of pay increased by 99,000 – 88,000 = 11,000, so we want to know what percentage of 88,000 is 11,000. Note that you always work with the original price or amount when working out a percentage. So the equivalent maths sentence is 88,000 × x% = 11,000 Dividing both sides by 88,000 gives\[ You must be very good at your job!

The methods employed to evaluate recycling policy initiatives vary greatly, and differ depending on the questions being asked, the scale of the evaluation and the resources available to conduct an evaluation (Conley et al, 2003). While experimental methods and multivariate correlation analysis have historically been used to establish cause and effect relationships between initiative characteristics and outcomes, there is an increasing emphasis being placed on qualitative models of evaluation (Patton, 1986, Leach 2000). The following section describes several of the predominant models used to evaluate recycling policy initiatives. Multivariate Correlation Analysis Multivariate correlation analysis (within the context of recycling policy) aims to establish causal relationships between the outcomes of a particular initiative with individual project characteristics. This is largely a quantitative exercise, using statistical techniques such as regression and log linear analysis to calculate the strength of the relationship between the dependent (i.e diversion/recycling rates) and independent (i.e. promotion and education rates, curbside collection etc) variables. While this technique remains extremely popular in disciplines such as economics and ecology, its applicability as a standalone measure to issues related to recycling is debated. One of the primary challenges of correlation analysis is a paucity of reliable data. Such methods require sufficiently large sample sizes to draw statistically meaningful conclusions, and often have difficulty accommodating the complex and dynamic nature of recycling initiatives (Sidique et al, 2010). When multivariate approaches are employed, it is usually based on structured surveys and/or province/state wide data on household recycling activity. Several researchers (see Chen, Rossi, 1987) have been critical of this approach, as there is a propensity to lose sight of “contextual factors and circumstances” when analyzing empirical data (Chen et al, 1987). Conversely, one could contend that quantifiable measures of a project’s success/failure provide objective and easily communicable results. While it is important to recognize the shortcomings of a multi-variate approach, we must be cautious of dismissing it all together. Such techniques have an extremely long history in issues related to resource management, and as such, must remain in our “tool box” of evaluative strategies. Participatory Approaches to Recycling Policy Participatory evaluative models of recycling initiatives directly engage recycling stakeholders, soliciting input as to the perceived successes, failures and experiences of a given project. Typically, respondents are asked to participate in surveys or interviews to assess a project’s outcomes, the factors that led to those outcomes, and the appropriateness of the processes used (Lee, 2011). Participatory models may also be used to glean information about stakeholder attitudes, opinions and relationships. Mendoza and Prabhu (2002) have noted that the strength of participatory evaluative models can be attributed to: - Participatory models are useful in capturing behavioural patterns and change among stakeholders - Participatory models are effective at capturing people’s perceptions, particularly those that are difficult to quantify - Participatory models are generally more accommodating and less intimidating to stakeholders While participatory modelling is decidedly qualitative in its approach, survey responses can be used to help inform quantitative methods such as multivariate correlation analysis (described above). As discussed by House (1999), the subjective nature of participant perceptions and values may subvert the credibility of a participatory approach. Though the approach is often lauded for capturing the full range of stakeholder experiences, it is seen as a less appropriate mechanism for measuring tangible outcomes (Mendoza et al, 2002). Furthermore, participatory models of evaluation are often resource and time intensive. Depending on the scope of a recycling initiative, it may be difficult to gather responses from a meaningful sample of participants (Conley et al, 2003). With that being said, participatory evaluative models are gaining traction as a preferred approach in assessing the efficacy of recycling initiatives, as they provide greater insights into the opinions and perspectives of recycling stakeholders. Measuring Tangible Outcomes Outcome evaluation is often predicated on comparing observed outcomes with desired objectives. As noted by Conley and Moote (2003), outcome evaluation can be applied when outcomes of a given initiative are readily quantified, and where there is sufficient baseline information to allow reliable comparisons over time and between cases. Within the context of recycling initiatives, some quantifiable metrics include: - Municipal diversion levels - Recycling program costs - Access to recycling services - Household recycling participation rates Assuming that sufficient baseline data has been collected, two relative system states can be compared (pre and post recycling initiative) to evaluate the efficacy of a given initiative. Outcome evaluations are often seen as more objective than participatory evaluative models, as it is generally not prone to issues of stakeholder bias, values and perceptions. However, critics of outcome based evaluations often question the “black box” nature of the approach (Patton, 1986). Unlike multivariate correlation analysis, outcome-based approaches do not explore the relationship between project outcomes and characteristics (Patton, 1986). As such, evaluators are unable to determine which variable (project characteristic) leads to a given outcome. Relationships under an outcome based approach are inferred, perhaps even erroneously. Furthermore, outcome based approaches give little insight into perceptual factors, like mutual learning among stakeholders, perceived fairness of the process, or outcome and conflict abatement (Conley et al, 2003) . Despite these criticisms, outcome based evaluation remains a popular evaluative approach. Reconciling two or more evaluative models may be seen as a potential strategy for overcoming some of the methodological shortcomings described above. The intersection of empirical and ethnographic approaches (such as multi-variate and participatory modeling), captures both the nuances and complexity of stakeholder experiences with the empirical rigor of conventional multi-variate analysis (Mendoza et al, 2002). Hybrid approaches attempt to overcome the methodological pitfalls attributable to any one approach. Multivariate correlation analysis is employed to check for the relationships among policy characteristics, while oral interviews establish a contextual narrative among affected stakeholders. Furthermore, incongruences between survey responses and stated experiences (via interviews) can be readily identified and examined further. While the benefits of a hybrid approach are readily apparent, there remain practical impediments to applying such a model to all recycling policy initiatives. The foremost of these challenges is the cost of undertaking this approach. A combination of both participatory and multivariate models are both resource and time intensive, often requiring a longitudinal approach that may not be feasible for the purposes of informing decision making (Innes, 1999). As such, one must carefully consider the intended purpose and timescale of the evaluation before employing a hybrid evaluative model. I was able to overcome the resource/data gathering challenges traditionally associated with the hybrid model by partnering with Waste Diversion Ontario, who graciously provided me with access to data from the municipal data call. This not only greatly reduced the time and resource burden of acquiring data, but provided me with access to Canada’s largest and oldest database related to municipal waste management.

I described attacks on the Phillips Curve in Part 2. This part discusses the history of the Phillips Curve in detail, and concludes with a discussion of the problems revealed by the failure. The Observations are the fun part if this is too long. History of the Phillips Curve This section is based on parts 1-3 of The History of the Phillips Curve: Consensus and Bifurcation by Robert Gordon, an economist at Northwestern, published in the 2008 in the journal Economica at p. 10 et seq. (behind paywall, but available online through your local library). In 1958, William Phillips published a paper which as Gordon puts it, … replaced discontinuous and qualitative descriptions by a quantitative hypothesis based on an unusually long history of evidence. Since 1861 there had been a regular negative relationship in Britain between the unemployment rate and the growth rate of the nominal wage rate. P. 12. Phillips fitted a curve to data from the period 1861-1913, and plotted data for the remaining periods, through 1957 against that curve to find disagreements. Phillips found that his curve was close across the entire time except for a couple of years that he explains away. Here’s the curve Phillips fitted to his data: 1) wt = -.90 + 9.64U-1.39 Gordon says “… the inflation rate would be expected to equal the growth rate of wages minus the long-term growth rate of productivity.” P. 12. 1a) p = w – k For some reason p is inflation and k is productivity. Upper case letters are levels and lower case letters are rates of change. So equation 1 can be written 2) p = -.90 + 9.64U-1.39 – k. Paul Samuelson and Robert Solow discussed the Phillips results in the US context in a 1960 article. They found no similar data for the US, but they did some estimates and suggested that the PC doesn’t fit their data for several periods, and that it can shift up and down. Phillips estimated that an unemployment rate of about 2.5% was consistent with zero-inflation, while Samuelson and Solow think it might have been 3% pre-World War II and was about 5-6% in the early 60s. With this seal of approval, the idea was incorporated into econometric models in two equations. In one, the PC was embodied and other variables were added, including demand, unemployment, the rate of change of unemployment, taxes, expected inflation and others in different combinations. This result was fed into an equation that calculates inflation based on wage levels, price levels and trend productivity. Gordon explains that The reduced form of this approach implied that the inflation rate depended on the level and rate of change of unemployment, perhaps other measures of demand, and lagged inflation. This is followed by a long discussion of the views of the Chicago School, which Gordon dismisses as utter failures. Moving along to 1975, Gordon turns to efforts to modify the Phillips Curve by adding supply and demand shocks. The price of oil shot up in 1973 because of OPEC. The demand for oil doesn’t decrease quickly in the short run, so people spend more on oil and less on other things. The Phillips Curve didn’t predict the results. Gordon says The required condition for continued full employment is the opening of a gap between the growth rate of nominal GDP and the growth rate of the nominal wage to make room for the increased nominal spending on oil. P. 21, cite omitted. That means wages must fall, Gordon says, or we have to add money to the economy, but the latter would lead to inflation. What we actually did, he says, was wage rigidity, increased unemployment, and some nominal (meaning not adjusted for inflation) GDP growth. Gordon then developed and published this version of the Phillips Curve: 3. pt = Ept + b(Ut – UtN) + zt + et The second U term is the “natural” rate of unemployment, which I’m not going to take up. The z term represents cost-push pressure from unions and supply monopolies. The e term is apparently a constant but it seems odd that it might vary over time. Gordon explains that this version incorporates inertia, the idea that if there’s inflation in one period, there will be inflation in the next. It also reflects supply and demand issues, like wage and price rigidity. Gordon then mentions in passing that the wage equation (Equation 1a) is only valid if labor’s share of the GDP is fixed, but it isn’t. Here’s a chart from FRED That problem, says Gordon, is “fruitfully ignored”. We don’t need to consider wages, we just look at prices. With these changes, we can understand the past by explaining away variations with negative or “beneficial supply shocks” and other variables. Gordon says that Equation 3 is foundation of the mainstream model. There is a related model, the New Keynesian Phillips Curve which is similar except that it incorporates future expectations of inflation, and makes no specific provision for supply and demand shocks. I assume these in some combination are the models used by the Fed, and heavily criticized as discussed in Part 2. The concept is replaced by the formula, the cause by rules and probability. Dialectic of Enlightenment, Horkheimer and Adorno,p. 3. 1. Phillips was working off empirical data when he fitted his curve, data about inflation and the rate of growth of wages. There are some theoretical issues in the preparation of that data. But the only abstract theory he adds to his data is Equation 1a, which Gordon says has a solid base in intuition. At the time he was writing, Phillips would only have seen data supporting that theory. We have new information: As it happens, and perhaps not surprisingly, Phillips’ Equation 1 doesn’t work on US data. Gordon himself and others start adding things to make the Philips Curve work. They are convinced that there is a link between unemployment and inflation, and that they just need to add the relevant variables from their theoretical arsenal to get it to come out. Some focus on expectations, others on supply and demand shocks, and others add taxes or something else. Once they get those pesky variables set up, it’s just a matter of solving for constants. The point is to fit a curve to the actual data, not to use the actual data to see what’s happening. The concept connected to the real world is gone, replaced by the formula. The cause is replaced by the rules of economics. 2. If we set inflation at 0 in Equation 1a, the rate of wage growth is equal to the rate of productivity growth. As the above chart shows, this relationship broke about 50 years ago. If all the gains from productivity are not going to labor, they are going to capital. Of course, capital takes several forms, for example, housing, agricultural land and other domestic capital. See, Piketty, Capital in the Twenty-First Century, Figure 4.6. When you think about it, it seems almost impossible that some of the gains from productivity weren’t going to capital all along. But in the current economy, it’s obvious that companies like Facebook can provide vastly more services with disproportionally fewer additional employees, few of whom are well paid, so that most of the gains from increased sales go to capital. Or, suppose that manufacturing is outsourced, reducing labor costs. Some of the gains might go to cutting prices but surely some go to capital. Let’s rewrite Equation 1a to reflect this, using γ for the growth rate capital. 1b) p = w + γ – k. Using Equation 1b instead of 1a, we would have this instead of Equation 2: 4) p = -.90 + 9.64U-1.39 + γ – k. This equation focuses attention on the changes in the return to capital. That issue never seems to trouble most economists, but the rate of return to capital is the central focus of Piketty’s Capital In The Twenty-First Century. This chart from the Center on Budget and Political Priorities shows that top wealth started on its climb at the same time wages diverged from productivity, which supports the idea that gains from productivity are going to capital: It also calls attention to the fact that nowhere in Gordon’s paper is there a mention of power, market power, political power, or social power, all of which Piketty talks about. Actually, hidden away in Gordon’s article is a backhanded reference to power. Equation 3 (Equation 7 in Gordon’s paper) includes a term “…zt to represent ‘cost-push pressure by unions, oil sheiks, or bauxite barons’”. P. 22. Obviously Gordon understands that the power to control the price of goods and services could create a negative supply shock, and the loss of control could produce a beneficial supply shock. P. 25. However, this is not explicit, and it certainly doesn’t deal with our current economy, in which almost all goods and services are dominated by a small number of gigantic companies exercising a significant degree of price control. The tweaking Gordon describes might work for a while, but as the degree of price control through monopoly and oligopoly power increases, and γ becomes a bigger factor, the tweaks quit working. 3. Let’s put this in a larger context. For many economists, the Phillips Curve is structural. But why would you think so? It seems more likely that the relationship holds in a certain set of social conditions, including legislation and regulation, power conditions, and people’s attitudes. A logical use of the data is to work out the conditions that must exist to make it so. That’s how Piketty approaches his inequality data. It’s a mistake to use a coincidence to predict the future. It seems to be a particular problem in economics. Even people who seem to know better continue to believe in the Phillips Curve. Here’s the President of the Boston Fed, Eric Rosengren: A number of papers at the conference highlighted that some of the economic relationships that are frequently assumed to be stable over time have proven to be not so stable as we have come out of the financial crisis. These structural changes mean that if you tried to have a model that was fairly invariant to these changes, or a process that was invariant to these changes, there would start being big misses in monetary policy. He goes on to explain that we have to raise interest rates because maybe not the Phillips Curve, but when employment goes up, inflation goes up. Rosengren knows there’s a problem, but he doesn’t have any idea of how to cope, so he keeps doing what he thinks he knows is right. It’s another example of Horkheimer and Adorno’s statement in action. Updated to define γ more exactly.

Hospitality Industry In Indonesia During Covid-19 Pandemic Currently, the world is facing a pandemic disease from a virus called Covid-19. This virus first appeared in one of the city from Chinese. Then spread rapidly in the countries of the world, even in March WHO announced that the Covid-19 Virus is a global pandemic that must be resolved together because it is widespread in every country. The covid-19 virus itself is a virus that causes mild upper respiratory infections to be moderate, like influenza. This virus can be transmitted from human to human. Transmission of this virus can occur through coughing, sneezing, or body contact from people infected with the virus. Due to the rapid spread, this virus has taken many victims. Various methods had been taken to deal with the outbreak of this disease and reduce the increase in casualties because the number of victims is increasing. For example, the government began implementing social distancing and PSBB (large-scale social restrictions system). As activities result from many activities, have been done from home, such as working from home, learning from home, limiting activities in places or public facilities, to prohibiting activities which caused a crowd and so on. This causes activities to be disrupted because we are required to stay at home. This certainly causes positive and negative impacts on various aspects, such as economics, education, politics, social culture, and others. However, there are more negative impacts, especially in the economic scope. In various regions in Indonesia, the economy became chaotic after the existence of this pandemic. The response of the government and the community that made prevention efforts, such as school closures, work from home, especially formal sector workers, delays and cancellations of various government and private events, made the circle of economic turnover slow down. The decline in global economic growth, particularly export destination countries and weakening commodity prices will put pressure on Indonesian exports. The same thing happened to export services, especially travel or tourism services. This caused because people must obey government regulations to stay at home and do work with the concept of working from home. As a result, many industries or businesses have decreased turnover. One of them is the hospitality industry. Then, how are the negative impacts of the pandemic in the hospitality industry in Indonesia?. As we know, the tourism sector in Indonesia is developing quite rapidly. Because of the many exciting tourist attractions that are designed, it makes domestic and foreign tourists attracted to visit. That certainly makes tourism the second-largest source of foreign exchange contribution for Indonesia. However, the current conditions are different due to the Covid-19 pandemic. Since the existence of social distancing instruction or PSBB (large scale restrictions system) has made the tourism sector weak. Many tourist attractions are closed to prevent the spread of covid-19. The decision of several countries to lock down and limit visitors due to the Coronavirus pandemic, making companies engaged in tourism, such as hotels, travel agents, airlines, and others, be devastated. This has caused revenue from the tourism sector to decline. Besides, there are fears that visitors will be affected by the virus is also one reason for tourism to be weak. Not only foreign visitors, but domestic visitors are also reluctant to visit tourist attractions in Indonesia. Due to the tourism sector was weakened by the Covid-19 pandemic, the hotel sector also felt the impact. The absence of visitors at tourist attractions makes hotels in Indonesia quiet. Some even closed the hotel. As a result, hotel income dropped because there were no visitors. Besides, many hotel workers were left or yet laid off. We know that the Covid-19 pandemic has a devastating effect on Indonesian cities and their growing tourism sector. One of them is the Magelang district. Magelang became one of the regions in the province of Central Java that was negatively affected by the pandemic, especially in the tourism scope. Magelang Regency itself has the tourism sector in the form of Borobudur temple, which is already well-known in the international arena. Every day many visitors from the region and foreign who crowded the Borobudur temple tourism area. However, this condition has undoubtedly changed with the Covid-19 pandemic. Borobudur temple tourism area is temporarily closed. This is done to prevent the increase in casualties and help the government breaking the chain from the spread of Covid-19 pandemic. However, it also has an impact on the weakening of tourism. Not only in the tourist area of Borobudur temple alone, but the turnover of hotels around the Borobudur Temple has also declined. Although there are currently several hotels open, visitors are still quiet. They tend to be always afraid to travel outside the area, especially those who need flight transportation from outside the region. Even though on many ordinary days, foreign tourists visit Borobudur temple, but because of the Covid-19 pandemic, they discouraged them from attending. Not only the tourist area of Borobudur temple is temporarily closed, but many other tourist attractions in Magelang district are also closed. For example, Punthuk Setumbu, Gereja Ayam, and other popular tourist attractions. Before the existence of the Covid-19 pandemic, the tourist attractions were also often crowded with visitors. Foreign and domestic tourists also often crowded the tourist area of Punthuk Setumbu to see the sunrise and sunset. But once again the current condition is deserted by visitors because of the Covid-19 virus outbreak. The tourism and hospitality sector can still run as long as it always complies with the health protocol rules that have been set by the government. It can do by providing a place to wash hands, check body temperature, and recommendation for the use of masks. Besides, the visitors should have the awareness to be more careful and maintain a healthy body so that the Covid -19 virus does not attack them. However, if this virus does not spread again soon can restore the condition of the hospitality industry in Indonesia.

Ukraine’s Energy Goes Green, but Costs Matter Before the Soviet Union collapsed, the Ukrainian energy system was among the most modern in Europe. But since independence, economic conditions have not favored new investments in energy, with the result that Ukraine now significantly lags Europe in the energy domain on such dimensions as amount of pollution produced (though that has fallen significantly) and age of the infrastructure. The technology to produce and transport energy and electricity is obsolete, with a high level of asset depreciation. Though the energy system is still very reliable, it is in dire need of modernization. The need to catch up in the energy sphere gives Ukraine the opportunity to shift to renewable energy sources rather than simply upgrade older technology. This turn to renewables is taking place within the context of an increasing worldwide focus on reducing greenhouse gases and slowing global warming. A specific prompt for Ukraine to develop renewable sources came in late 2010, when the country joined the European Energy Community and committed itself to a number of obligations, including the goal of deriving 11 percent of its energy from renewable sources by 2020. But for some years after signing the agreement, Ukraine saw little progress toward its many energy goals. A tangle of legal, economic, and political barriers stood in the way of realizing the transition to greener energy sources. A case in point is the obstructive role played by Ukraine’s energy tariffs. In 2008, feed-in tariffs to support renewable energy were introduced in Ukraine. The feed-in tariff for solar electricity generation was among the highest in Europe and provided a good business for oligarchs at the expense of the state’s coffers and of the consumers who were paying for the electricity. The oligarchs also wanted to avoid competition, so later legislation prevented new players from entering the market. During that period the solar power station Perovo, built in Crimea, was among the most powerful in the world. It belonged to the oligarch Serhiy Klyuyev, a former MP and financial backer of Viktor Yanukovych, who later fled the country. His departure opened the door for the election of new political elites concerned to make the system more investor-friendly and to roll back the feed-in tariff charged to big solar power stations. These goals were achieved after the Revolution of Dignity in the winter of 2013–2014, when the newly elected parliament amended the legislation: existing barriers to entering the field were abolished, and the exorbitantly high feed-in tariff for solar energy (so-called Klyuyev’s tariff) was reduced. It is still among the highest in Europe, reflecting both the cost to the state of supporting the development and production of energy from renewable sources and the decision of many other European states to replace feed-in tariffs with different systems of renewables support. So the tariff is, in part, good from the point of view of helping the state meet its renewables obligations. But price matters. Since 2014 Ukraine has boosted its renewable energy production, but it is still far from meeting the country’s international obligations. In 2017, for example, renewable sources (excluding big hydro) were responsible for less than 1.5 percent of electricity generated in Ukraine—a far cry from the 9.7 percent required according to the agreement with the European Energy Community. Just a few numbers will suffice to show the price of turning Ukrainian energy green under current conditions. In 2017 solar energy was responsible for only 0.5 percent of electricity generated in the country, but it accounted for 4.05 percent of the total cost of electricity in Ukraine. Big hydro (not supported by feed-in tariffs) generated almost seven times more electricity while receiving almost the same money as solar energy did. Nuclear energy generated 56.46 percent of all electricity but its share in the total energy cost was only 27.85 percent. The 9.7 percent share of renewables-generated electricity expected in 2017 under Ukraine’s agreement with the European Energy Commission would carry a price tag more than 30 percent higher than it currently is. So it is difficult to imagine how renewables-sourced energy could be affordable for households. It is also difficult to predict the impact of a greater commitment to renewables on the competitiveness of an energy-hungry economy that has seen staggering increases in energy prices over the last two years while also sustaining high energy losses as a result of an obsolete energy infrastructure. So the question is, should the current system of supporting green energy stay the same or should it be amended by parliament? The Ukrainian parliament will shortly face decisions on the feed-in tariff’s future. Some MP’s call for leaving the system unchanged, while others consider amending some part of it. It is true that Ukraine should continue to try to meet its international obligations on renewables. But energy saving and energy efficiency are tasks of top importance for Ukraine. It does not make a lot of sense to invest in producing green energy and then pay high costs for its consumption if a third to a half is lost later to inefficiency. Janez Kopacz, head of the Energy Community, has expressed his opinion that the current system of support for developing and producing green energy in Ukraine is not perfect for current conditions. High tariffs do attract outside investments. But the costs must later be paid back by Ukrainian energy consumers. Much of the energy equipment is being imported, which places pressure on the country’s balance of payments and on the national currency exchange rate. In the case of foreign investments, that just increases the GDP of other countries at the expense of the Ukrainian economy. At a time when the costs of renewable energy technologies are falling, the current feed-in tariff risks acquiring the same taint as Klyuyev’s dealings. Ukraine is currently developing dynamically as a country. Its energy needs must be met by rapidly changing technologies. It seems implausible that the renewables’ feed-in system could be frozen and not amended under such conditions. Many countries have replaced a feed-in tariff with other means of supporting renewable energy. It is unclear why Ukraine cannot follow suit. Right now the tariff system reminds observers forcefully of Lenin lying in his mausoleum, unchanging, a symbol of an earlier economic and political era. A note of caution is needed, however: the system supporting the development and production of energy from renewable sources should be economically sound. Otherwise it will generate extra profits for investors at the expense of Ukrainian consumers—citizens and businesses. About the Author The Kennan Institute is the premier U.S. center for advanced research on Russia and Eurasia and the oldest and largest regional program at the Woodrow Wilson International Center for Scholars. The Kennan Institute is committed to improving American expertise and knowledge of Russia, Ukraine, and the region. Through its residential fellowship programs, public lectures, workshops, and publications, the Institute strives to attract, publicize, and integrate new research into the policy community. Read more

But why do we measure energy per mass in particular? Energy per dollar may be a better measure of ‘progress’, if the goal was to explode things cheaply, rather than lightly. So we looked into this too. The first thing we found was that information about the costs of pre-WWII explosives is surprisingly sparse. However from what we can gather, nuclear weapons did not immediately improve the cost-effectiveness of explosives much at all. The marginal cost of an early 200kt nuclear weapon was about $25M, which is quite similar to the $21M price of the equivalent amount of TNT. Early nuclear explosives did not deliver radically more bang-for-the-buck than their conventional counterparts (even setting aside the considerable upfront development costs); their immediate significance was their greater energy density. This is not a precise comparison. For one thing, conventional bombs have costs beyond the explosive material, which were not included in the figures here. For another, conventional bombs contain explosives other than TNT (alternatives gave somewhat more explosive power per dollar). Nonetheless, the ballpark costs of the two explosives seem comparable. This is interesting for a few reasons. Continuity from continuously falling costs It tells us something about why and when technological progress is continuous. One possible explanation for continuous progress is that people do things when they first become reasonably cost-effective, at which point they are unlikely to be radically cost-effective. Imagine there are a range of possible projects, with different costs and payoffs. Every year, they all get a little cheaper. If a project is a great deal this year, then it would have been done last year, when it was already a good deal. So all of the available deals would be about as good as each other. On this model, new technologies might be suddenly very good, but only if the advance was also very expensive. Nothing would be suddenly very cost-effective. On their face, nuclear weapons appear to support this theory. They made abrupt progress, but were incredibly expensive to develop and build. But this story doesn’t stand up to closer inspection. A few years before they were deployed, not even physicists generally thought them possible; no one considered and then rejected an investment in nuclear weapons. As soon as the possibility was seriously considered, it was considered to merit a significant fraction of GDP. Continuity from incremental improvements It’s also plausible that progress is continuous on metrics that people care most about, because if they care they search hard for improvements, and there are in fact plenty of small improvements to find. Cost-effectiveness of explosives is a thing we care about, whereas we care less (though still quite a bit) about explosive power per weight. The nuclear case provides some support for this explanation. Continuity in something There are many ways to measure progress. Finding measures that don’t change abruptly can help avoid surprises, by allowing us to forecast the trends that are most likely to advance predictably. The nuclear example may help shed light on what kinds of measures tend to be continuous. There are even more relevant metrics than this literal meaning of “bang for the buck.” Destruction per dollar might be closer, but harder to measure; the effect on P(winning the war) would be closer still, and the effect on national interests more broadly would be even better. It was hard enough to find cost-effectiveness of in terms of energy, so we won’t be investigating these any time soon. In general, I would guess that progress becomes more continuous as we move closer to measures that people really care about. The reverse may be true, however, for nuclear weapons: the costs of deploying weapons might see more abrupt progress than the narrower measure we have considered. A nuclear weapon requires one plane, whereas a rain of small bombs requires many, and these planes and crews appear to be much more expensive than the bombs. This is a small part of an ongoing investigation into discontinuous technological change. More blog posts are here and here. The most relevant pages about this so far are Cases of Discontinuous Technological Progress and Discontinuity from Nuclear Weapons.

Spending money is an integral part of running a business. Business owners spend a lot on producing and creating products and services. This cost is known as direct costs. These expenses are directly associated with building the product and services. However, the expenses which are not associated directly with building a product/service, are known as an overhead cost. If the business owner doesn’t take care of overhead cost, it can quickly drain the business revenue. The business owners need to take out time and figure out how to calculate the overhead cost. But before going any further, let us first discuss what the overhead cost is. What is Overhead? Overhead cost is that cost which is associated with running a business. But it is not directly attributed to product/service, business activity, and a portion of the company’s income. The example of this cost is: - Professional expenses, such as legal or accounting services - Administrative costs - Licenses and permits - Property taxes - Office equipment The cost is critical for a business, but it does not lead to the generation of profits. Additionally, this cost is fixed. For example, the rent for the office stays the same every month. Notably, the direct cost is different from overhead cost. Direct cost includes direct labour and material associated with the production of products and services. Direct cost is variable cost, whereas overhead is fixed. The total cost of the small business is calculated by adding direct and overhead expenses. How to Calculate Overhead cost for Small Businesses? As a small business owner, you should know the overhead cost formula and how to calculate the overhead cost. The most common way to calculate it is to take a percentage of sales and labour costs. Your goal should be to keep the overhead cost as low as possible. It would mean that a high percentage of the expenses are going towards the production of goods and services. A low overhead cost will also mean that you can offer your products at better prices, making them a better option for competition. Furthermore, a small overhead would also increase profit margins and boost the bottom line. To calculate business overhead, you need first to specify your business activities and make a list of your expenses; it should be thorough. You can look through your financial statement in order to make sure that you have to pinpoint every cost. Once all the business expenses are identified, sort them into two categories, namely direct and indirect expenses. Then ask yourself, does this expense impact the production of goods? Once the expenses are sorted, add all the direct and indirect expenses for the month. Then look at the company’s income statement to ascertain monthly sales. Once the monthly sales are determined, calculate the overhead ratio in the following way: (Monthly overhead ÷ monthly sales) x 100 = percentage of overhead cost to sales The overhead cost can also be measured by comparing it to the labour cost: (Monthly overhead ÷ monthly Labour cost) x 100 = percentage of overhead cost to labour Now let’s take a look at how to lower down the overhead costs for a small business in India. How to lower down overhead costs? If you realise that the overhead expenses are taking a toll on your revenue, you should immediately look for ways to lower down the cost. Below, you will find ways to reduce the cost: Review Everything Thoroughly Determine the expenses that you can consider as an indirect cost. However, these expenses can fluctuate over time, based on the activities of the business. You need to review the expenses monthly to ensure there are no drastic changes. You should anyway go through all your business expenses monthly. Mark the items as: - No longer necessary for business - Open to efficiencies - Too high in price If you have a high overhead percentage, don’t look for a magic bullet. Cutting down on a single expense will not fix the problem. The process requires you to have patience and realise the most significant cost saving that can bring down overhead. Re-evaluate third-party Contracts If you rent machinery or equipment, you can re-evaluate the cost by looking for current deals and see if they still fit your needs. You can look for better and cost-efficient deals as well. However, this process is critical if the contractors or vendors are older. Brainstorm the Employees You can take the input of your employees regarding where you can save money. Depending on the size of the organisation, you can even offer incentives for the employee that provides the most innovative concept. Notably, if you brainstorm with the team, you are more like to get better ideas. Clear out Storeroom There are chances that your office is filled with non-working or outdated technology, like printers, computers, etc. Take time to review the technology expenses and cut out those that are no longer required to save cost. Compare different service providers in your locality and avail services from the one that offers better rates. There’s a chance that your one or two employees may be underperforming. Laying off employees hurts, but keeping the underperforming employee on board won’t do any good for the company either. It undoubtedly is a drain on your resources. Designate one person to purchase everything for your organisation. This person should be in charge of things like negotiating with the suppliers and getting the best deals and offers. The above mentioned points will help you by cut your overhead expenses. You just need to carefully evaluate the current position of your expenses and come up with a saving strategy.

Scope of the Study Distributed energy generation is the variety of technologies that generate electricity at or near where it will be used, such as solar panels and combined heat and power. Distributed energy generation serves a single structure, such as a home or business, or the part of a microgrid which is a smaller grid that is also tied into the larger electricity delivery system such as at a major industrial facility, a military base, or a large college campus. For commercial sectors, the distributed energy generations include resources like combined heat and power systems, solar photovoltaic panels, Wind, Hydropower, Biomass combustion or cofiring, municipal solid waste incineration and others. The market study is being classified, by Application (On-Grid and Off-Grid) and major geographies with country level break-up. ABB (Switzerland), Siemens (Germany), Alstom (France), Capstone Turbine Corporation (CPST) (United States), GE (United States), Wood Group (United Kingdom), Schneider Electric (France), Mitsubishi Heavy Industries Ltd (Japan), Caterpillar (United States) and Ansaldo Energia SpA (Italy) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Fuelcell Energy (United States). The global commercial distributed energy generation market is witnessing rise in competitiveness among the players. In terms of market share, the major players are currently dominating. However, some of the companies are increasing the market presence by securing new contracts and tapping new markets. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Commercial Distributed Energy Generation market throughout the predicted period. AdvanceMarketAnalytics has segmented the market of Global Commercial Distributed Energy Generation market by Type, Application and Region. On the basis of geography, the market of Commercial Distributed Energy Generation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. - Promotion by Government for the Installations of Distributed Energy Generation System - Advantages Such as Lower Operating Costs and Reduced Per Unit Electricity Costs - Increasing Awareness about the Clean Energy Resources - Reluctance to Spend on Distributed Generation - Growing Environmental Concerns May Boost the Market Growth - Increasing Electricity Costs and Outage Issues in Rural Areas - Intermittent and Variable Nature of Sources like Solar and Wind Market Leaders and their expansionary development strategies On 5th March 2020, ABB has acquired Cylon Controls electronic manufacturing platform which provides smart energy solutions for businesses. On 5th February 2019, Go electric Inc. has announced launch of its new micro grid-enabled switchgear product, Hive. It is designed and engineered to provide facilities with critical energy reliability and resiliency when experiencing disturbances from the electric grid. Key Target AudienceManufacturers, Raw material suppliers, Government associations, Research organizations and Others Customization in the Report Available:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs. Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request** ** Confirmation on availability of data would be informed prior purchase

In the current economy, the notion of achieving financial literacy has never been more important. To put this into some form of context, the UK economy recently reported its largest fall since 1979, after declining by 2.2% since the beginning of 2020. With this in mind, everyday households face a huge challenge in the bid to generate income and build wealth, especially with unemployment growing by 23% during the second quarter alone. Financial literacy can help citizens to negate these challenges and become more financially secure. But what steps can be taken to actively achieve this? 1. Become Actively Interested in Finance and Money Management Financial literacy is defined by Investopedia as "the ability to understand and effectively apply various financial skills", while it includes numerous elements such as financial management, budgeting and investing. Make no mistake; understanding this is central to achieving a good standard of financial literacy, as it's impossible to become well-versed in or successfully practice a concept without detailed knowledge of its mechanics. To build this foundation of knowledge, you'll need to take an active interest in finance and financial management, and fortunately the Internet is choc-full of resources that you can use to broaden your understanding. There are plenty of in-depth but well written articles on sites such as Investopedia, for example, while podcasts and seminars can also serve as viable educational tools. 2. Use Demo Accounts and Trade Forex While building a theoretical base of knowledge can prove crucial, there remains a significant gap between these and practical experience of money management, budgeting and investment. However, there are technological tools that can help you to bridge this chasm, starting with so-called 'demo accounts'. These are featured on virtual trading platforms such as the MT4, and they enable you to access a simulated real-time market where you're able to grapple with the mechanics of fiscal markets without risking your hard earned capital. In terms of learning the basics of money management and budgeting, there are also numerous apps that can help you on your ways. Mint remains the standard bearer for money management apps on the current market, while the 'You Need a Budget' app is also ideal for those hoping to make their money go further. 3. Understand the Fundamentals of Budgeting Budgeting is certainly a key aspect of financial management and literacy, although many people either underestimate its importance or fail to do this successfully. In terms of best practice, you should note that budgeting only really works when you deal in accurate numbers, so be sure to deal in pence rather than pounds when listing your incomings, outgoings and precise level of disposable income. When using your budget as a way of identifying and implementing cash savings, you should also focus on everyday items of expenditure rather than big-ticket purchases. By minimising the recurring cost of utilities and groceries, you can make sustainable savings that accumulate over time and make an incremental difference to your financial security.

What do chartered accountants do? Posted at 27/05/2020 Are you considering a career as a chartered accountant? In order to shed more light on this profession, our experts provide an overview of the job description. The chartered accountant: what does this job description consist of? If you have been wondering what a chartered accountant does, the first piece of information you should know is that this professional deals with the supervision, control, maintenance and, of course, the accounting of companies, legal entities or any other organization they may collaborate with. The size of the firm the accountant works for will determine the duties of the accountant. For a small firm, the chartered accountant's job generally involves multitasking. Whereas in a large firm, the accountant may work more closely with a team of lawyers, tax specialists and IT specialists to carry out their duties. The role of this specialist in the accounting sector therefore goes well beyond drawing up a company's accounts. They have an important advisory role in legal, tax, social and accounting matters. What profile do you need to be a chartered accountant? An important part of finding a job in this field is a love of numbers. To work as a chartered accountant, you must of course have an appreciation for numbers, but you must also be able to analyze a company's accounting and economic data. Working as a chartered accountant also means being a good listener, since this job is largely based on supporting employees and company managers. This requires a good understanding of the needs of your clients in order to better advise them afterwards. When recruiters for accounting professions are looking for candidates to fill an accounting position, they will generally turn to someone with experience in managing a team. Leadership, communication, decision making and crisis management are also elements that these professionals are expected to master. What does a chartered accountant do? A demanding but rewarding job! Now that you know what the chartered accountant's job involves, perhaps you would like to find a position in the field? If the answer is yes and you have an interest in the accounting sector, we invite you to contact us now. At Fed Finance, our recruitment consultants will be able to provide you with personalized support in your job search.

Supply Chain Optimisation Climate change, often referred to as Global Warming, is fast becoming a major issue for business, as well as our communities. Businesses are recognising the need to become good corporate citizens, as well as prepare for regulatory schemes that may require them to reduce carbon emissions. The difficulty many businesses now face, is understanding where to start. Recognising this need, Logistics Bureau is now able to assist businesses, with Carbon Footprint Analysis, in the following areas: - Quantifying existing carbon emissions from Supply Chains and Distribution Networks. - Testing alternative methods and modes of distribution, and quantifying the potential emissions reduction. - Developing plans to reduce CO2 emissions, by modifying transport and facility usage in the Supply Chain. In many markets, consumers are now expecting suppliers to set and achieve CO2 emission reduction targets. Furthermore, consumers are starting to select products, based on the amount of carbon emissions produced in their manufacture. All of this puts even more pressure on businesses to tackle emissions issues.

The history of Russian coins is still relatively short. In its development, the monetary business of Russia did not directly rely on ancient or medieval designs, and yet in an amazingly short time it reached such a level of diversity and beauty that collectors quickly become fascinated with striking images on coins and medals, as well as large-scale gold and silver minting. Whereas the money of many countries of the world, such as the American dollar, takes its name from the silver thaler, minted since the end of the 15th century, Russia has come a special way in the field of coinage. Continue reading Coinage in the territory of the German state from the end of the Middle Ages (XV century) and until the introduction of the imperial state currency in 1871 is without doubt one of the most versatile and diverse areas of coin collecting. While other European countries, such as England, Spain or France, by the end of the Middle Ages became national states in which coinage was carried out centrally, Germany until the founding of the Empire after the Franco-Prussian War (1870-1871) remained geographically heavily fragmented. Continue reading We can safely say that silver coins of tsarist Russia of 1700 – 1917, will definitely be able to delight everyone, even the most fastidious and demanding coin collector, otherwise it can not be. Thus, if you once see such a collection, you can personally see that there is something to see, and this is true. Silver coins of tsarist Russia 1700-1917. If you delve into the historical past, then, first of all, I would like to remind you that since 1721, as you know, tsarist Russia has become imperial at all. Continue reading

Topic: Farm Bill The Farm Bill, which Congress is supposed to enact every five years, governs nearly every aspect of agriculture and food – from school lunch programs to SNAP benefits to commodity payments to credit programs. The Farm Bill then gets implemented through a series of regulations issued by USDA. Farmers need to know what is in the Farm Bill, how it will affect them, and what regulations govern their operations. FLAG can: - Inform farmers and farm groups about existing Farm Bill programs - Monitor USDA rules implementing Farm Bill programs - Analyze new Farm Bill programs to determine how family farmers will be affected by any changes.

The Financial Ratios Used in Practice There are many financial ratios used in business. These are used as part of assessing own strengths and weaknesses as well as demonstrating a safe and potentially lucrative return to investors. Use these to analyse a company or a portfolio in terms of overall performance. Many MBAs use ratios in daily practice and these do give an accurate and often reliable overview of the company. However, ratios are not industry specific. Therefore a new, trending and emergent sector may not be truly reflected in the ratios of the companies in that sector. Also many industries rely on a customer base rather than tangible assets such as stock, machinery, property, patients, brands and other intellectual property. Use ratios; they are very indicative in the majority of cases. However, smart investors look at more once ratios have highlighted potentials. The main ratios are: The Fundamental Accounting Equation Assets = Liability + Owners Equity Use the abbreviation Aloe to remember this. This is the equation that is the basiss of all accountiung and is the sum of both sides of the Balance Sheet (see information about financial statements). Gross Profit = Turnover / Cost of Goods Sold Gross Profit Margin = Gross Profit / Cost of Goods Sold Gross Profit Margin = (Turnover – Cost of Goods Sold) / Revenue Net Income = Gross Profit – Cost of Operations – Tax Net Profit Margin = Net Income / Sales Return on Equity (ROE) ROE = (Net Income / Assets) x (Assets / Equity) This is the return on the owners’ equity (shareholders’ funds) for the period in question. The period used is the financial year. Remember that in different counties financial years run from and to different months. For example US financial year begins 1st January whereas the UK financial year traditionally begins 1st April. The DuPont Analysis also determines ROE, but uses the equation below: ROE = (Net Income / Sales) x (Sales / Total Assets) x (Total Assets / Equity) Return on Capital Employed (ROCE) The Return on Capital Employed (ROCE) expands on ROE by analyzing the return on all capital, including debts. ROCE is expressed as a percentage. ROCE (%) = Net Profit / Capital Employed The net profit here is specifically the operating profit i.e. the earnings before interest and tax (EBIT). In many industries EBIT is used as the fundamental valuation of a company. Current Ratio = Current Assets / Current Liabilities This ratio tests a corporation’s liquidity. Liquidity means how quickly liquid capital (cash within the year) can be generated. The more liquid a company is the more chance it has of covering costs of its operations. A company can have high gross profits, but if it is not liquid enough to have the cash flow to cover daily operations, it will cease to function before profit is realized. Quick Ratio aka Acid Test The Current Ratio above gives the total ratio for current assets. Current assets are usually defines as assets that can be converted into cash or cash equivalents within a year. The Quick Ratio (often called the Acid Test) looks more deeply at the most liquid assets i.e. the assets that are most quickly turned into ‘free flowing’ cash. Quick Ratio = Cash +Accounts Receivable + Investments Payable Immanently Cash Conversion Cycle The Cash Conversion Cycle (CCC) is the cycle at which cash is generated as a result of expenditure. This is given in days. The CCC shows the number of days that a company’s liquid cash is tied up in operations before it is realised again (the cycle then begins again, hopefully getting bigger or more numerous as the company grows). For example, a basic sports retail company buys a batch of training shoes. The batch is bought rather than individual pairs due to bulk discount. The batch contains 100 pairs of shoes. The retail outlet sells 4 shoes per day. Therefore the Cash Conversion Cycle for this basic example is 25 days. In reality, the CCC is more complex and there are a lot of other factors to consider, but as long as the company has enough cash to survive all the cash cycles operating, it should continue to have liquid funds and be viable. Note that this does not relate to profitability directly, but obviously faster CCCs of higher margin products are better. The CCC equation is: CCC = DIO + DSO – DPO DIO = days inventory outstanding, DSO = days sales outstanding, DPO = days payable outstanding As you can see, this is more complicated than the simple retail example. Retail sales realise cash immediately. B2B sales and sales on account realize cash after the agreed (contracted) invoice payable period. Inventory does not always arrive when it is paid for. Much is produced (or shipped long-distance) to order. Also some inventory may be components of the final saleable item and until all inventories are received, none has value because it cannot be directly utilized and the DIO part of the CCC increases and the cycle ‘spins more slowly’, thus CCC days increase.

Artificial intelligence is the academic field of study which studies how to create computers and computer software that are capable of intelligent behavior. According to Wikipedia definition “Artificial intelligence is the intelligence of machines, where an intelligent agent (system) perceives its environment and takes action which maximizes its chances of success. Adoption of Machine Learning Machine learning is a subset of AI dedicated to classifying and finding patterns and extrapolates it to new data. We see a lot of machine learning applications implementation. Netflix uses machine learning based algorithm to select the top movies to be recommended. Amazon shopping portal uses machine learning technique to recommend the shopping items based on the recent search and other recognizable patterns. Machine Learning in Trading In this article we ask the question, ”Whether machine learning techniques can be used in stock trading?" The answer is resounding “Yes”! In fact, there are hedge funds that are purely based on AI, namely Rebellion Research and KFL Capital. Machine learning is logical and overcomes human limitations. This is important in trading where emotions can lead to pitfalls when it comes to decision making. Machine learning is classified into supervised learning and unsupervised learning. Unsupervised learning is the ability to find patterns in a stream of data without labeling the data. An example of this type is a self-organizing map (SOM). Limitation of this type is that parameters on which the data should be categorized are not specified. In supervised learning classes/labels of training data is specified. Example Support Vector Machines (SVM). Support Vector Machines (SVM) SVM analyze data and recognize patterns. Originally proposed by Boser, Guyon and Vapik in 1992, SVM gained increasing popularity and are currently among the best performers for a number of classification tasks ranging from text to genomic data. As an example of applying SVM to trading, we will consider a moving average crossover strategy. In a moving average crossover there are two moving averages that are considered SMA (Short Moving Average) and LMA (Long Moving Average). If SMA crosses LMA from below it’s a buy signal and if SMA crosses LMA from above it’s a sell signal. Nifty (NSE) data for six years is considered for this example. If the price on the current day is higher than the previous day, a category called +1 is assigned. Similarly, if the price on the current day is lower than the previous day, a category called -1 is assigned. A category of 0 is assigned if there is no price change between consecutive days. Predictions are made based on the data clustering. The large sections of data-points are in the +1 zone and very few data-points in the -1 zone. The overall distribution of the data is observed and predictions can be improved by widening the range from +1 and -1 to say +5 and -5. A substitute for widening the range is neural networks. Packages are available in R and you can build layers of neural networks. The bottom line is to buy low and sell high. This is accomplished by using machine learning techniques that detect a pattern in the data and make predictions. Model building is the crucial part of the trading strategies. Based on the past data and it’s clustering around the data points predictions for the future are made. There are many models, Hidden Markov Model, decision tree, random forest to name a few. We at Quantinsti, have dedicated curriculum for algorithmic trading famously knows as EPAT (Executive Programme in Algorithmic Trading). For more details about this certification feel free to connect with us. Here is a step-by-step technique to predict Gold price using Regression in Python. Learn right from defining the explanatory variables to creating a linear regression model and eventually predicting the Gold ETF prices. This is a fundamental yet strong machine learning technique.

Do you wonder if the good fortune and opportunities that you’ve enjoyed in your professional life will be available to your children, and to their children? At a time of strong global economic growth, it may seem paradoxical that we face an existential crisis around the future of work. But the pace of innovation is accelerating, and the jobs of the future – in a few months or a few years – will require specific, complex skills. In short, the changing nature of work – and how best to prepare people for the jobs of the future – are some of the toughest challenges countries face, which is why they’re the subject of this year’s World Development Report. Because the future of work matters to all of us, we decided to give this report an unprecedented level of transparency. For the first time since the World Bank began publishing the WDR in 1978, the report is completely transparent throughout the writing process. Every Friday afternoon, the latest draft is uploaded to the World Bank website, so that anyone with internet access has an opportunity to read it and engage with the team of authors. I can’t promise that the WDR won’t have changed a week from now, which is why I encourage you to keep revisiting it as we keep revising it. For new readers, here are a few insights into the report’s contents that I hope will get you thinking about the future of work: First, while the threat of imminent, widespread, technology-induced unemployment is a chimera, jobs are currently being lost and will be lost to automation. But technology also creates new opportunities and is constantly improving global living standards. The world is better connected, aspirations are rising, and disparate voices are more likely to be heard. Second, the skills needed for work are changing, literally, every day. New jobs will require specific skills—a combination of technological know-how, problem solving, and critical-thinking skills, as well as soft skills such as perseverance, collaboration, and empathy. That means countries must invest much more – and more effectively – in their people to build human capital. ; however, too many countries are under-investing in these critical areas—especially in the early formative years of childhood, when the ability to learn new skills quickly is decisively molded. When countries don’t invest to build human capital, it puts successive generations – especially the poorest – at a severe disadvantage, exacerbates inequalities that already exist, and threatens to create instability when rising aspirations are met with frustration instead of opportunity. Third, we should ensure that opportunity, like talent, is distributed equally throughout society. One of the primary ways we can ensure this is to protect people through social assistance and insurance systems that fit with the changing nature of work. The current model is broken in most developing countries and looks increasingly out of date for most advanced economies as well. Social contracts are also about inclusion, which means that the wealthy have to pay their share of taxes. With insufficient tax revenues, governments can’t deliver the current social contract. Countries in every region must do more to stop tax avoidance, and the only way they can, in the words of leaders of the world’s 20 largest economies, is to “put an end to the divorce between the location of profits and the location of real activities.” There’s a lot more in the report that I hope you’ll explore as it continues to evolve in the coming weeks. I’m certain that when the final draft is launched in the fall it will make a significant contribution to the debate on the future of work. If you want to get involved, you can start by reading the work in progress here. Originally published on LinkedIn.

Solar pump cooperative supports climate-smart agriculture in Gujarat This case study showcases how the installation of solar pumps for irrigation helped raise farmer incomes and reduced emissions in Dhundi, Gujarat. With a changing climate, agriculture-based economies are seeking innovations that protect farmers and their livelihoods. Groundwater is the main source of irrigation in India, however the use of diesel to pump it from the ground is expensive and polluting. In the village of Dhundi, in Gujarat, solar pumps were introduced in 2015 to pump water for irrigation, and sell any excess electricity to the grid. Through selling the excess electricity, farmers owning the pumps (the Solar Pump Irrigators’ Cooperatives Enterprise (SPICE)) have earned ‘climate-smart’ income, and have been incentivised to use groundwater and energy more sustainably. Key messages from this case study include: - Solar pumps generating electricity for irrigation in the village of Dhundi in Gujarat are increasing farmer incomes and incentivising the sustainable use of groundwater and energy. - Two key success factors have been a local power utility willing to experiment with a new model and buy back electricity from farmers for 25 years, as well as a farmer cooperative improving the efficiency of the sale of electricity. - The Dhundi example demonstrates the potential of solar pumps as a ‘cash crop’ for farmers, since they do not require any fertiliser, irrigation or labour and are not at risk from drought and floods. However, incentives need to be in place to pump only the amount of water required for irrigation to avoid groundwater exploitation. Photo: Woman cleaning solar panel in Dhundi village, Gujarat, India. Credit: IWMI-Tata Water Policy Program.

An estimate of the amount of money that an individual, business or asset will earn over the course of a year. Annualized income is usually calculated with less than one year's worth of data, so it is only an estimate of how much income will actually be earned for the year. Nonetheless, annualized income figures can be helpful for creating budgets and making estimated income tax payments. To calculate annualized income, multiply the earned income figure by the number of months in a year divided by the number of months of income data available. For example, if a consultant earned $10,000 in January, $12,000 in February, $9,000 in March and $13,000 in April, the earned income figure for those four months would be $44,000. To annualize the consultant's income, multiply $44,000 by 12/4 to get $132,000. Investment dictionary. Academic. 2012. Look at other dictionaries: Annualized Income Installment Method — A method through which a taxpayer may reduce or eliminate any estimated tax underpayment penalty owed. The annualized income installment method calculates the installment payment that would be due if the income minus deductions earned before the… … Investment dictionary Annualize — 1. To convert a rate of any length into a rate that reflects the rate on an annual (yearly) basis. This is most often done on rates of less than one year, and usually does not take into account the effects of compounding. The annualized rate is… … Investment dictionary return on assets — ( ROA) A percentage calculated by dividing net income after tax by total assets. Annual income is usually used in the numerator; however, the annualized income for a month, quarter, or half year can be used. Period end assets is often used in… … Financial and business terms ROA — return on assets (ROA) A percentage calculated by dividing net income after tax by total assets. Annual income is usually used in the numerator; however, the annualized income for a month, quarter, or half year can be used. Period end assets is… … Financial and business terms annualize — ˈanyə(wə)ˌlīz transitive verb ( ed/ ing/ s) Etymology: annual (I) + ize : to compute for periods of less than a year on a basis corresponding to that applicable to a full year annualized income … Useful english dictionary Constant Percent Prepayment — Annualized estimate of mortgage loan prepayments, computed by multiplying the average monthly prepayment rate by 12. This is used to determine cash flow in structured finance transactions, often referred to as the secondary mortgage market. It… … Investment dictionary Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… … Universalium Rate of return — In finance, rate of return (ROR), also known as return on investment (ROI), rate of profit or sometimes just return, is the ratio of money gained or lost (whether realized or unrealized) on an investment relative to the amount of money invested.… … Wikipedia japan — japanner, n. /jeuh pan /, n., adj., v., japanned, japanning. n. 1. any of various hard, durable, black varnishes, originally from Japan, for coating wood, metal, or other surfaces. 2. work varnished and figured in the Japanese manner. 3. Japans,… … Universalium Japan — /jeuh pan /, n. 1. a constitutional monarchy on a chain of islands off the E coast of Asia: main islands, Hokkaido, Honshu, Kyushu, and Shikoku. 125,716,637; 141,529 sq. mi. (366,560 sq. km). Cap.: Tokyo. Japanese, Nihon, Nippon. 2. Sea of, the… … Universalium

Ballard Power Systems will supply next-generation FCvelocity-HD7 fuel cell power modules for 8 buses to be deployed in a number of Chinese cities to a Chinese manufacturer. Ballard expects to ship all of the modules in 2015. We are now beginning to see meaningful evidence of growing demand for clean energy mass transportation alternatives in China, including both buses and trams. This demand is being driven by a pressing need to address China’s challenging air quality issues, for which fuel cell technology is seen as an emerging option.—Randy MacEwen, Ballard’s President and CEO China’s rapid economic expansion over the recent past is resulting in public concern regarding deteriorating levels of air quality. Too, in 2013, China’s carbon dioxide emissions from fossil fuel combustion accounted for 29% of the global total, compared to 15% from the United States. As a result, the Government is investing heavily in the renewable energy industry and on actions designed to save energy and reduce emissions. China’s growth has also spawned the largest commercial vehicle segment in the world, in terms of production and domestic sales, including the manufacture of more than 70,000 city buses in 2011. In that same year automotive emissions contributed more than 33% of the air pollution in Beijing, Shanghai and the Pearl River Delta Region. A new energy program, launched in 2011 and involving 48 Chinese cities, has an objective of expanding public transit while also reducing the number of vehicles in cities. One of the program’s specific goals is to deploy more than 1,000 clean energy buses in each of its participating cities, taking advantage of Government subsidies to facilitate this expansion. Fuel cell buses, along with electric buses, are eligible for a subsidy of approximately US$150,000, through 2017. In addition, hydrogen fueling stations are eligible for a further subsidy of approximately US$650,000.

Due diligence is one of those terms that you are likely to be familiar with and understand on the surface. Beyond its textbook definition, however, it cuts across all forms of business transactions; purchasing commercial property, corporate transactions (i.e. M&As, takeovers, investments, etc.) and even day-to-day trade transactions. Imagine you are buying groceries or other related commodities. You don’t just jump into buying because you have been looking for that product. You perform checks like reviewing expiry dates, checking the seal; making sure it not broken, some even go as far as examining the ingredients – double checking to ensure what they are allergic to is not contained therein. When you perform those actions, , you are conducting due diligence on that product (or products) before buying to avoid any possible risk that may arise from the purchase and consumption of that product. Now let’s put this idea into practice and learn how to manage the process in a commercial transaction. Due diligence (DD) is the care that a reasonable person exercises to avoid harm to other people or their property. In commercial transactions, due diligence is used to describe the investigation performed before executing a transaction, i.e. before purchasing another company or other property, before a merger, or before buying a company’s equity. How due diligence is conducted Let’s assume your company is planning to merge with or purchase another company. DD for such transactions needs to go deep to uncover financial matters and to properly account for hard-to-value items such as goodwill, inventory and existing contracts. Before finalizing transactions, you (often with the help of professionals) will perform due diligence to find out: - The financial status of the company – does the business have a healthy cash flow? - By looking at the company’s financial statement or reports – can you tell where the revenue stream is coming from? - How reliable are its financial projections and what multiple is it placing on those earnings? - What are the company’s profit margins in comparison to the industry – are they on the high side or low? - How big is the market for the company’s products or services – is the market growing, shrinking or stagnant? - Are there any major new competitors in or coming into the area that could negatively impact earnings? - What kind of online presence does the business have, and how does that compare to its competitors’? - Does the company have physical assets – are they valued correctly and fairly? - Are there any hidden liabilities? - Are the company documents complete? (e.g. articles of incorporation, board meeting minutes, tax registration, etc.) - Is the business up to date on its taxes? - Does it lease property? If so, when does the lease end? - What insurance information has been provided and what is covered? - Are there complete employee files including with respect to salary and benefits? These, amongst others, are questions to ask and facts to investigate in conducting due diligence. Reasons why due diligence is important in commercial transactions - Conducting DD helps in fact-finding and business planning: It ensures that the conducting party understands the detailed nature of the business. Through investigation, it unveils the nature of the commercial investment and facilitates integration and post-completion planning. - Conducting DD helps to understand, identify and assist with risk allocation: It highlights potential problems or risks that may arise in the transaction, thereby influencing the consideration payable. - Conducting DD assists in securing funding: Carrying out DD assists in securing financing for the transaction, both internal and external. How to manage the due diligence process 1. What your client wants? You must understand that each client is different just as each transaction is different. However, common themes that emerge in any transaction include: - Relevance of scope to the issue facing the business in question: You must establish a clear scope based on the business and client’s priorities. Ensure your draft scope is considered and approved at the right (senior) level and be clear that your client (and other relying parties) is happy with reliance terms. - Accessibility of due diligence report, and clear recommendation/action points: Your client will want to have full access to the DD report, and it should be clear, when stating facts in connection with the DD investigation, what your advice is on the transaction as well as the next steps to be taken. - Speed of delivery, especially if competitive (i.e. a competitive bid for a takeover): Although the DD process can take time to be finalized, in circumstances such as a takeover bid that may be competitive in nature, a client will want delivery of the DD results as soon as possible showing the overall value of the target enterprise and outlining the risks related in taking it over in order to ensure a bid at the most favorable price. - Fees and cost: Make sure this is discussed at an early stage. A client does not want fee or cost related surprises in the middle of the transaction. 2. Team Management You must put in place a suitable team internally, which must be clearly briefed on the transaction. Therefore, a clear reporting line should be established, and the team should be provided with all relevant documentation and information. If you will be using an external specialist, do not instruct the external specialist late. Also, provide regular updates on the process to the team i.e. material developments in structure or terms, or new documents available. In reporting, information should be refined for the client’s understanding. Definitions and numbering should be uniform and consistent. Furthermore, a skeleton of the report should be circulated to all specialists involved. Issues raised should be drawn out clearly and comprehensively. Typos, cross-referencing errors, inconsistency may not be material to the substance of the report itself, but they undermine the client’s confidence. Therefore, review the document carefully to remove simple errors. The purpose of the process is to identify as quickly as possible material legal issues and communicate them to both the internal team and to the client so that something can be done to avoid or mitigate any downsides related to the transaction. At the end of the DD process, the final report should be easily accessible to the client, help them understand the issues and the steps to be taken and provide the knowledge required to effectively and thoroughly mark-up the transaction documents.