Friday 26 October 2012

greenhouse effect


The greenhouse effect is unquestionably real and helps to regulate the temperature of our planet. It is essential for life on Earth and is one of Earth's natural processes. It is the result of heat absorption by certain gases in the atmosphere (called greenhouse gases because they effectively 'trap' heat in the lower atmosphere) and re-radiation downward of some of that heat. Water vapor is the most abundant greenhouse gas, followed by carbon dioxide and other trace gases. Without a natural greenhouse effect, the temperature of the Earth would be about zero degrees F (-18°C) instead of its present 57°F (14°C). So, the concern is not with the fact that we have a greenhouse effect, but whether human activities are leading to an enhancement of the greenhouse effect by the emission of greenhouse gases through fossil fuel combustion and deforestation.

Sunday 21 October 2012

What are the new production techniques models?


There are several potential new production models that we feel arise as a result of digital technology combined with wireless technologies and Web-based software. Among these are: Location independence Real Time Cinema Live Cinema Hybrid/Production Fusion Techniques Collaborative Cubes Parallel Production Let's look at each briefly. Location independence Location independence is the ability to collaborate on film production over the Internet in such as way that the various craft persons and departments can be geographically dispersed. For example, a director could hypothetically direct an entire production from a different location than the crew via a remote, real time DV conference link over the Internet. The director could see multiple DV camera views within a single computer workspace and make editing choices on the fly or after all the source material is compiled. Location independence also means that it is easier for collaborating artists to communicate over the Internet. Scripts can be collaboratively discussed via chat rooms. Edits can be sent for review and acceptance over the Net. DV "dailies" can be uploaded and downloaded from the Internet. Real Time Cinema Real Time Cinema is possible because with DV cameras there is a longer period of time for a take - hypothetically a take can last for the entire length of the film. This allows for films that either have minimal or no edits. Real Time Cinema is a cinema that can be shot quickly and rely heavily on improvisation. Real Time Cinema is potentially a renegade form that will allow for the compression of production schedules from weeks to days or even hours. Live Cinema Live Cinema is a narrative fiction film that is broadcast live to theaters. Live Cinema might be a kind of "pay per view" for theatrical productions, or a one-time event that is then transferred to celluloid (or re-broadcast via digital projection) for more conventional theater viewing after the initial "event." The initial event might also include a live WebCast that allows millions to tap into the Live Cinema event. Like Real Time Cinema, Live Cinema can greatly compress a production schedule (outside of rehearsal). Live Cinema taps into a hybrid mentality and possibilities that arise from DV. Live Cinema is the film equivalent of live television or the sports closed-circuit broadcast. Hybrid/Production Fusion Techniques Hybrid/Production Fusion Techniques involve combining elements of television and film production. For example, the multiple camera techniques commonly found in television can be used more extensively in a DV narrative feature film production. For a variety of reasons, film is often still a single camera operation. The lowered cost of DV allows for multiple cameras on location. For example, a shot/reverse-shot can be done in one take, as is done in television. Also, multiple cameras allow for more latitude in terms of aesthetic choices. An editor has more material to work with, increasing options in the final quality of the film. The Collaborative Cube™ A Collaborative Cube is a virtual space for collaboration. A cube implies an extension of a two-dimensional space to a third dimension. A Collaborative Cube extends the Internet outside of the Net - to the physical environment. For example, a Collaborative Cube could become the "control center" for a digital production. With hybrid production techniques, the "control center" methods with multiple camera setups found in television could be taken on location. The director could communicate via wireless technology to the crew or multiple crews from a Collaborative Cube from which he or she oversees the production. The Collaborative Cube can also extend from one location to another in pre-production. In scriptwriting, an Internet-based script conference could be done through a Collaborative Cube that includes the producer, scriptwriters, and others. Further, actors could rehearse over the Internet in a Collaborative Cube similar to the way that businesspeople teleconference. Musicians in various locales could compose music in a Collaborative Cube that would be mixed and used exactly as if they had recorded in the same physical location. Parallel Production A parallel production is one where several sequences, scenes or even entire films are shot simultaneously. This is accomplished by using multiple digital video camera technology, often linked through wireless communications, that pipe the image back to a central workspace. This workspace can consists of remote monitors or a computer screen or screens that display the visual information from the remote cameras. A parallel production is distinct from traditional television "three camera" set ups in the following ways: The multiple DV camera set ups can occur on location, not just on a television soundstage The cameras do not necessarily focus on the same action The cameras do not necessarily focus on the same story or narrative New narrative forms can potentially arise within a parallel production. Characters can interweave from one plot point in one film to another. There are elements of conjunction, interaction and improvisation that can arise within a parallel production that haven't been seen in traditional multiple camera techniques.

Just-In-Time Manufacturing JIT


The American Production and Inventory Control Society (APICS) has the following definition of JIT: "a philosophy of manufacturing based on planned elimination of all waste and continuous improvement of productivity. It encompasses the successful execution of all manufacturing activities required to produce a final product, from design engineering to delivery and including all stages of conversion from raw material onward. The primary elements include having only the required inventory when needed; to improve quality to zero defects; to reduce lead time by reducing setup times, queue lengths and lot sizes; to incrementally revise the operations themselves; and to accomplish these things at minimum cost."

Tuesday 2 October 2012

Top Engineering Colleges in Kerala


National Institute of Technology – Calicut.... Indian Institute of Space Science and Technology Thiruvananthapuram..... College of Engineering Thiruvananthapuram TKM college of Engineering Kollam..... L B S College of Engineering.... N.S.S. College of Engineering Palakkad.... Sree Chitra Thirunal College of Engineering Thiruvananthapuram.... Mar Baselios College of Engineering and Technology Thiruvananthapuram.... Rajagiri School of Engineering & Technology Kochi.... St. Joseph’s College of Engineering and Technology Palai.... College of Engineering Thrissur.... Viswajyothi College of Engineering & Technology Muvattupuzha.... Adi Shankara Institute of Technology Ernakulum.... College of Engineering Vidya Academy of Science & Technology Adoor.... SCMS College of Engineering Kochi.... College of Engineering Munnar.... Mohandas College of Engineering and Technology Thiruvananthapuram..... Sree Narayana Gurukulam College of Engineering Kolenchery.... MES College of Engineering Thrikkanapuram.... Model College of Engineering Kanayannur...... Model Engineering College Kochi.... Government College of Engineering Kannur.... Sahrdaya College of Engineering and Technology Kodakara A+ Click here Vidya Academy of Science & Technology

List of the best business schools in India offering MBA PGDM and Doctoral programs


Jamnalal Bajaj Institute of Management Studies, Mumbai (JBIMS)... S. P. Jain Institute of Management Studies, Mumbai (SPJIMR).... Schools of Management, IIT (Mumbai, Delhi, Chennai).... Management Development Institute, Gurgaon (MDI).... Narsee Monjee Institute of Management Studies, Mumbai (NMIMS).... Xavier Institute of Management, Bhubaneswar (XIM B).... Symbiosis Institute of Business Management, Pune (SIBM).... Symbiosis Center for Management & Human Resources Development, Pune (SCMHRD)... Institute of Management & Technology, Ghaziabad (IMT).... International Management Institute, Delhi (IMI).... Bharathidasan Institute of Management, Trichy (BIM).... Mudra Institute of Communications, Ahmedabad (MICA).... Indian Institute of Foreign Trade, Delhi (IIFT).... T. A. Pai Management Institute, Manipal (TAPMI)... Loyola Institute of Business Administration, Chennai (LIBA)... Institute of Rural Management, Anand (IRMA).... Institute of Management Development Research, Pune (IMDR)...

Top Indian Management Institutes for MBA and PGDM


1....Indian Institute of Management, Ahmedabad (IIM A).... 2....Indian Institute of Management, Calcutta (IIM C) @ Kolkatta.... 3...Indian Institute of Management, Bangalore (IIM B)....4...Indian Institute of Management, Lucknow (IIM L)...5... XLRI - Xavier Labour Research Institute, Jamshedpur...6... ISB - Indian School of Business, Hyderabad...7....FMS - Faculty of Management Studies, University of Delhi... 8...Indian Institute of Management, Indore (IIM I)....9.... Indian Institute of Management, Kozhikode (IIM K - Calicut)

TOP TEN MBA B-SCHOOLS IN KERALA


TOP TEN MBA B-SCHOOLS 1.....IIM - Kozhikode 2....SCMS School of Communication and Management Studies 3....Institute of Management in Kerala (IMK) 4....Albertian Institute of Management (AIM) 5....Farook College 6....Holy Grace Academy of Management Studies, Cochin 7....Caarmel Engineering College, Pathanamthitta 8....TKM College of Engineering, Kollam 9....Mes College of Engineering, Malappruam 10....DC school of manangement

TOP TEN MBA B-SCHOOLS IN KERALA


TOP TEN MBA B-SCHOOLS

Monday 1 October 2012


IIM - Kozhikode IIM - Kozhikode Kozhikode View Courses | Contact Details | Request Info SCMS School of Communication and Management Studies SCMS School of Communication and Management Studies Cochin View Courses | Contact Details | Request Info Institute of Management in Kerala (IMK) Institute of Management in Kerala (IMK) Trivandrum View Courses | Contact Details | Request Info Allama Iqbal Institute of Management (AIIM) Allama Iqbal Institute of Management (AIIM) Trivandrum View Courses | Contact Details | Request Info College of Engineering, Trivandrum College of Engineering, Trivandrum Trivandrum View Courses | Contact Details | Request Info KMCT School of Business (KSB) KMCT School of Business (KSB) Kozhikode View Courses | Contact Details | Request Info Farook College Farook College Kozhikode View Courses | Contact Details | Request Info Asian School of Business (ASB) Asian School of Business (ASB) Trivandrum View Courses | Contact Details | Request Info SCMS School of Technology and Management (SSTM) SCMS School of Technology and Management (SSTM) Cochin View Courses | Contact Details | Request Info Albertian Institute of Management (AIM) Albertian Institute of Management (AIM) Cochin View Courses | Contact Details | Request Info

Master of Business Administration (MBA or M.B.A.


The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The core courses in the MBA program are designed to introduce students to the various areas of business such as accounting, finance, marketing, human resources, operations management, etc. Students in MBA programs have the option of taking general business courses throughout the program or can select an area of concentration and focus approximately one-fourth of their studies in this subject.

Thursday 27 September 2012

performance accounting


A performance accounting system is a mechanism for capturing and reporting performance indicators on a real-time basis. Performance accounting systems range from low to very high tech. There are two primary benefits of a performance accounting system. 1. To improve the availability and quality of information for decision makers. 2. To stimulate desired behavior by providing real-time performance feedback on activities that are most critical to company success.

Wednesday 26 September 2012

selection


“Rejection is an opportunity for your selection.” ― Bernard Branson

change


“You can change only what people know, not what they do.” ― Scott Adams

LIFE


As long as you're green, you're growing. As soon as you're ripe, you start to rot." — Ray Kroc

MANAGEMENT


"Management is, above all, a practice where art, science, and craft meet." — Henry Mintzberg

Quotes on MANAGEMENT


"Make your top managers rich and they will make you rich." — Robert H. Johnson

Tuesday 25 September 2012

JUNK E MAIL OR E MAILSPAM OR BULK MAIL


Email spam, also known as junk email or unsolicited bulk email (UBE), is a subset of electronic spam involving nearly identical messages sent to numerous recipients by email. Clicking on links in spam email may send users to phishing web sites or sites that are hosting malware. Spam email may also include malware as scripts or other executable file attachments. Definitions of spam usually include the aspects that email is unsolicited and sent in bulk

Friday 21 September 2012

Management


Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively.

Friday 14 September 2012

Statutory Accounting Principles - SAP


A set of accounting regulations prescribed by the National Association of Insurance Commissioners for the preparation of an insuring firm's financial statements. Filings prepared using SAP are submitted to individual state regulatory bodies; SAP are regarded as more regulatory and conservative than the GAAP method of preparing financial statements.

'Cost Accounting'


A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Cost accounting will first measure and record these costs individually, then compare input results to output or actual results to aid company management in measuring financial performance. Read more: http://www.investopedia.com/terms/c/cost-accounting.asp#ixzz26Vv43MnG

Management accounting


Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions.

Accounting


The systematic recording, reporting, and analysis of financial transactions of a business. The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles. Accounting allows a company to analyze the financial performance of the business, and look at statistics such as net profit. Read more: http://www.investorwords.com/48/accounting.html#ixzz26Vu5Meo4

Friday 24 August 2012

Geotourism


ump to: navigation, search Geotourism (from “geographical character”): is defined as tourism that sustains or enhances the geographical character of a place—its environment, culture, aesthetics, heritage, and the well-being of its residents. The concept was introduced publicly in a 2002 report by the Travel Industry Association of America and National Geographic Traveler magazine. National Geographic senior editor Jonathan B. Tourtellot and his wife, Sally Bensusen, coined the term in 1997 in response to requests for a term and concept more encompassing than “ecotourism” and “sustainable tourism.” Like true ecotourism, geotourism promotes a virtuous circle whereby tourism revenues provide a local incentive to protect what tourists are coming to see, but extends the principle beyond nature and ecology to incorporate all characteristics that contribute to “sense of place”—historic structures, living and traditional culture, landscapes, cuisine, arts and artisanry, as well as local flora and fauna. Geotourism incorporates sustainability principles, but in addition to the do-no-harm ethic, geotourism focuses on the place as a whole

Wednesday 22 August 2012

Kettuvallam Tourism


Kettuvallam is a house boat widely used in the Indian state of Kerala. These have thatched roof covers over wooden hulls. In the Malayalam language "kettu" means "to tie" and “vallam” means boat – the two together make the local name "kettuvallam”. Each houseboat is constructed using the ancient principles and techniques of boat building by the local carpenters using 'Anjili' wood. Coir ropes are used for fastening the wooden planks together.Kettuvallams are huge, slow moving, exotic barges designed for sheer leisure trips. Formerly, Kettuvallams were used to ship rice and spices and other goods between Kuttanad and the Cochin port. It was a three-day affair those days. A standard Kettuvallams, which could be about 100 feet long, can hold up to 30 tons, and that is as much as three big lorries can.A Kettuvallams (which is made of hundreds of fine but heavy-duty planks of jack-wood) is held together absolutely by coir knots (not a single nail is used). KETTU means knot. This framework is then coated with a caustic black resin extracted from boiled cashew kernels. And it lasts for generations. All these "Kettuvalloms" are being made of wood, bamboo mats, bamboo poles, coir ropes and coir mats etc

Friday 10 August 2012

Mind blowing interview ( MUST READ )


Mind blowing interview ( MUST READ ) Interviewer : Tell me about yourself. Candidate: I am Rameshwar Kulkarni. I did my Telecom Engg from BabanRao Dhole-Patil Institute of Technology. Interviewer : BabanRao Dhole-Patil Institute of Technology? I had never heard of this college before! Candidate : Great! Even I had not heard of it before getting an admission into it .. What happened is – due to cricket world cup I scored badly! in 12th. I was getting a paid seat in a good college. But my father said – “I can not invest so much of money”. So I had to join this college. Interviewer: ok, It seems you have taken 6 years to complete your engineering. Candidate : Actually I tried my best to finish it in 4 years. But you know, these cricket matches and football world cup, and tennis tournaments. It is difficult to concentrate. So I flunked in 2nd and 3rd year. These cricket matches really affect exams a lot.. I think they should ban it . Interviewer : Good to know that you want cricket matches to be banned. Candidate : No, no… I am talking about Exams!! Interviewer: Ok, What is your biggest achievement in life? Candidate : Obviously, completing my Engineering. My mom never thought I would complete it . In fact, when I flunked in 3rd year, she was looking for a job for me in BEST (Bus corporation in Maharashtra). Interviewer : Do you have any plans of higher study? Candidate: he he he.. Are you kidding? Completing ‘lower’ education it self was so much of pain!! Interviewer : Let’s talk about technical stuff. On which platforms have you worked? Candidate : Well, I work at SEEPZ, so you can say Andheri is my current platforms. Earlier I was at Vashi center. So Vashi was my platform then. Interviewer : And which languages have you used? Candidate : Marathi, Hindi, English. By the way, I can keep quiet in German, French, Russian and many other languages. Interviewer: Why VC is better than VB? Candidate : It is a common sense – C comes after B. So VC is a higher version than VB. I heard very soon they are coming up with a new language VD! Interviewer: Do you know anything about Assembly Language? Candidate: Well, I have not heard of it . But I guess, this is the language our ministers and MPs use in assembly. Interviewer : What is your general project experience? Candidate : My general experience about projects is – most of the times they are in pipeline! Interviewer : Do you have any project management experience? Candidate: No, but I guess it shouldn’t be difficult. I know Word and Excel. I can talk a lot. I know how to dial for International phone call and use speaker facility. And very important – I know few words like – ‘Showstoppers ‘ , ‘hot fixes’, ‘SEI-CMM’, ‘quality’, ‘version control’, ‘deadlines’ , ‘Customer Satisfaction’ etc. Also I can blame others for my mistakes! Interviewer: What are your expectations from our company? Candidate : Not much. 1. I should at least get 40,000 in hand.. 2. I would like to work on a live EJB project. But it should not have deadlines. I personally feel that pressure affects natural talent. 3. I believe in flexi-timings. 4. Dress Code is against basic freedom, so I would like to wear t-shirt and jeans. 5. We must have sat-sun off. I will suggest Wednesday off also, so as to avoid breakdown due to overwork. 6. I would like to go abroad 3 times a year on short term preferably 1-2 months) assignments. Personally I prefer US and Australia. As you can see I am modest and don’t have many expectations. So can I assume my selection? Interviewer : he he he ha ha ha. Thanks for your interest in our organization. In fact I was never entertained so much before. Welcome to INFOSYS. The fellow was appointed in a newly created section ‘Stress Management’ in the HRD of Infosys.

Wednesday 8 August 2012

Janmashtami


Janmashtami is celebrated for the Lord Krishna birth on this earth. People all over the world enjoy this festival with great joy and fervor. Indeed, it is a happy and joyous festivity to welcome the newborn baby God on earth. It is said that when the God was born, all the planets were in favorable condition and auspicious condition. Legends reveal that God selects a particular time to come on the earth. He decides as to when he would step into the world and thus the planets are adjusted. We are all aware that Janmashtami is the birthday of Shyamji. But most of us do not know about the planets, 'nakshatra', place of Krishna birth and the main objective behind this 'avatar'. So, let us together unfurl the mystery that led to the Krishna birth. Let us find out about the events before and after the birth of Shri Krishna. Eventually, we will definitely know about the weather condition while the God took birth. Around the time of Krishna birth, the constellation or nakshatra called 'rohini' was in the auspicious state as it was managed by Lord Brahma--the ultimate creator of the universe. Some other scholars opine that Bal Gopal was born on the 8th day of second fortnight in the month of Shravana. It was around 3227 BC and the year of Visvavasu. The age was known as Iron Age or Dwapur Yug.

Monday 6 August 2012

ISLAMIC MANNERS


ISLAMIC MANNERS-13 Social Manners with the Elderly 5.3 WALKING WITH THE ELDERLY To illustrate this point, I will cite jurist Ali bin Mubarak Al-Karkhi ( -487H), who studied under Imam, Abi Y'ala Al-Hanbali, himself a jurist and judge and the chief Shaikh of the Hanbali School of Law: One day, Judge Abu Yala said to me, while walking with him: If you walked with someone you honour, where would you walk?' I said: I do not know.' He said, Walk to his right. Place him at the position of Imam in the prayer. Leave his left side clear in case he needs to spit or to get rid of dirt.' An interesting story in this regard happened among three Muslim scholars. They were Judge Ahmad bin Omar bin Suriah (249-306 A.H.), Faqih Mohammad bin Dawood Al-Zaheri (255 – 297 A.H. ), and Linguist Naftawih (244-323 A.H.). They were walking along together when they came to a very narrow passageway, and each wanted the other to go ahead. Ibn Suraih said, A narrow street brings ill manners.' Ibn Dawood responded, Though it points out status.' Naftawih said, When friendship prevails, formalities disappear.' The story does not tell who went ahead of the others, but it is likely that it was Ahmad bin Suriah since he was a judge and a prominent Imam at the time and ranked above his two companions. He may have said A narrow street rings ill manners' apologizing out of politeness for going ahead. He could not have said it if any of the two moved ahead since that would have been impolite. There is a possibility that Naftawih went ahead since his words could be an apology for doing that since he is the least ranked. It is just wonderful to see such perfect behaviour and nice apologies. 5.4 THE ELDERLY ARE TO BE SERVED FIRST Give precedence to the elderly or to dignitaries, ahead of anyone else. After that, you may proceed with those on their right if you want to follow the practice of the Prophet (صلى الله عليه وسلم). The evidence supporting this manner in addition to the two Hadiths mentioned above, is illustrated in many Hadiths, some of which are cited below: Imam Muslim reported in his Sahih in the Chapter on the Manners and Rules of Eating and Drinking, that Huzaifa bin Al-Yaman (RA) said: Whenever we were invited to a meal with the Messenger of Allah (صلى الله عليه وسلم), we would not reach the food with our hands before he reached for it.' To emphasize the importance of these manners, Imam Al-Nawawi, in his book Riyad Al-Salihîn, cited a large collection of Hadith and devoted a whole chapter to the subject of Respecting Scholars, the Elderly and the Dignitaries. Giving them Precedence and the Best Seat. Acknowledging their Preeminence.' In the following paragraphs, I will reiterate some of these. Allah said in the Quran: Are those equal, those who know and those who do not know? It is those who possess understanding that receive admonition.' Imam Muslim reported that Uqba bin Amr Al-Badri Al-Ansari (RA) stated that the Prophet (صلى الله عليه وسلم) said: Those who are best at reciting the Quran should lead a group's prayer. If they are equal, then those most versed in the Sunna should lead; if they are equal, then a person who migrated first [from Makka to Madina] should lead; if they had migrated at the same time, then an elder should lead.' Imam Muslim reported that Ibn Mas'od said that the Prophet (صلى الله عليه وسلم) said: Let your wise and mature pray immediately behind me, then those who trail behind them, and then those who trail behind them.' Imam Al-Bukhari reported that Jabir bin Abdullah (RA) said: After the battle of Uhud, the Prophet (صلى الله عليه وسلم) buried two martyrs in one grave. He asked, which one memorized more of the Quran? Upon being told which it was, he laid him first facing Qibla.' In addition, Muslim reported that Abduallah bin Omar (RA) stated that the Prophet (صلى الله عليه وسلم) said: I dreamt I was brushing my teeth with Sewak when two men approached me. I handed the Sewak to the younger but was instructed to hand it to the older. Accordingly, I handed it to the older.' Imam Abu Dawood reported as a fair Hadith that Abu Müsa Al-Ash'ari (RA) stated that the Prophet (صلى الله عليه وسلم) said: Part of paying homage to Allah is to respect an elder whose hair has turned gray, or a [regular] reader of the Quran, or a just ruler.' This desired behaviour towards elders is so important that the Prophet صلى الله عليه وسلم made it a part of respecting and venerating Allah. To ignore it is a gross misbehaviour. At its forefront comes respect and reverence of the just ruler. A revered poet enumerated a group of rules and stipulated that whoever broke these rules should be slapped on the neck. The eight rules are: Disrespecting a grand ruler Entering a house without being invited to do so. Giving orders/directions at another's house. Taking an undeserved seat of honour. Insisting on discussing a topic with others. Interrupting two others. Asking charity from a person of low character. Seeking a favour from an enemy. Abu Dawood and Al-Hakim reported as an authentic Hadith that Maimün bin Abi Shabîb recounted that a beggar stopped the Prophet's wife Aisha (RA) and she gave him a piece of dry bread. At another time, a properly-dressed, well-groomed man asked her for food. She let him sit and offered him a meal. When asked about that, she replied that the Prophet (صلى الله عليه وسلم) said: Treat people according to their status.' Imam Al-Nawawi concluded this chapter by citing a Hadith as reported by Al-Bukhari and Muslim in which Samura bin Jundub (RA) said: Though I was a young child at the time of the Prophet, I used to listen to what he said and memorize it. Nothing prevents me from narrating my knowledge except the presence of men older than me.' In conclusion, the Sunnah is to start according to the following order of merits: age, knowledge, social status, lineage, veterans of Jihad, generosity or similar virtues. Further, the Sunnah of hospitality, is to start with the most prominent, then to move to those on the right in order to harmonize the custom of starting on the right with the custom of starting with people of virtue. Some people who misunderstand the real meaning of some texts of the Sunnah claim that the Sunnah is to start with those on your right whoever they are. They base this on Hadiths that stress starting from the right. But this is only true when the group is in all ways equal in character, status or age. However, if one of them is distinguished with a merit such as old age, then the Sunnah is to start with this person. In his book Al-Bayan wa Tahsîl Imam Ibn Rushd said: As a rule, if the status of those present is equal, one should start on the right, as with every desirable act. However, if a scholar, an honourable person or an elder is present, the Sunnah is to start with such a person and then move to his or her right in a counter clockwise fashion. The Messenger of Allah was offered milk mixed with water while a Bedouin was sitting on his right, and to his left, was sitting Abu Bakr. The Prophet drank some and handed it over to the Bedouin saying, From the right, then to the right.' Do not proceed to the left in an anti-clockwise fashion, even if the person to the left is of a higher status, unless those on the right agree to pass their turn. The Messenger (صلى الله عليه وسلم) was sitting with elders on his left and a young man on his right. He was brought a drink. After drinking, he asked the young man: Would you give me the permission to pass it to those? The boy answered: By Allah no. I would not favour anyone with my share of your drink.' The Prophet willingly put the drink in the child hand indicating that it is his right. The Indian scholar, Al-Mubarkfuri, in his treatise on explaining Jami` Al-Tirmizielaborated on this. When commenting on the Hadith, the server should be the last one to drink,' Al-Mubarkfuri said, This indicates that the server should delay his drink until all the guests are served. The same applies when fruits are being served. The most notable should be served first, and then those of the right until everyone is served.' Al-Minawi in his explanation of Sharh Al-Shamail commented on the previous Hadith of Ibn Abbas: This implies that the Sunna is to continue serving drinks and food with those on the right of the most noble person even if that person happened to be less important than the person on the left.' A Hadith in Sahih Muslim reinforces this rule of serving the elder or the most noble first, and then those on his right. Abdullah bin Bosur said, The Prophet visited my father and we served him with food made of dates and butter. Then he was brought dates, and he ate it and threw the pit using his middle and forefingers. Then he was brought a drink from which he drank and passed it to his right.' The words he was brought a drink' clearly indicates that he was served first before those on his right since he was the noblest person present, and that then he passed it to those on his right. It indicates that they started with the Prophet out of respect and not because he asked for a drink. The preceding words he was brought dates' reinforces this understanding. It is very unlikely that the Prophet, while a guest, will ask his host for food and then for drink. It could be argued that this is a possibility. Indeed, it is a hypothetical possibility that lacks evidence or probability. An important aspect of proper manners is that some people extend help and hospitality to strangers out of faith and pure humanity. If it becomes known that the person needing help has additional virtues such as being a scholar or notable person, they will go an extra step in their generosity and providing help. This is undoubtedly evidence of right instinct and faith which motivated such gestures. Therefore, the general rule is to start from the right if those present are equal in merit. However, if there is a person who is well-known for a respectable trait, then start with that person. If we were to follow the alleged rule that hosts ought to start with the person who happened to be on their right, then we could start with a young child, a servant, a driver, or a guard, at the expense of more prominent guests such as a dignitary, a revered scholar, a notable, a parent, a grandparent, or an uncle. Would it be acceptable by the Shari'a and its refined manners to forsake honouring and starting with persons of character, in favour of starting with a child, a servant, a driver and then proceed to persons of higher status? Also, it is possible that the ten persons or more are sitting on the right side before the most honourable person. To reach them at the end does not befit their status and may offend them. Islamic manners definitely do not accept this irregular conduct. However, if someone asks for a drink, they have the right to the request before anybody else regardless of age or status, and the round should proceed with those on their right. If this person notices someone older or of higher status showing desire for the drink, he, or she may willingly give up his, or her right in favour of that person. When preferring others to yourself, you have practiced the Islamic manner of unselfishness, and you will achieve great virtue, and honour and gain great rewards. To respect, obey and give precedence to the elderly is an old and established Arab custom. Here I would like to quote in full the advice of Qais bin Asem AL-Tamimi, a great companion. On his death bed, Qais advised his children to make their elders/seniors their leaders from whom they will also receive valuable advice and wisdom all revolving around Islamic behaviour. Qais bin Asem Al-Minqeri Al-Tamimi was one of the leaders of Tamim. Famous for his eloquent speeches, the Prophet gave him the title Master of the desert dwellers.' He was a wise and mild-mannered person. On the 9th year of Al-Hijra, he came to visit the Prophet صلى الله عليه وسلم in Medina with a delegation of his tribe Bani Tamim. When the Prophet صلى الله عليه وسلم saw him he said This is the master of the desert dwellers.' He spent his last years in Basra where he died in the 20th year of Al-Hijra. He was very patient and lenient. Ahnaf bin Qais, a famous Arab sage, was asked, Who taught you patience and leniency?' He answered, Qais bin Asem Al-Minqeri. Once I saw him sitting in his courtyard talking to his guests and his tribe. A man tied-up in ropes and a deadbody were brought to him. He was told, This is your nephew. He killed your son.' Qais bin Asem remained calm and continued his conversation until he was finished. Then turning to his nephew, he said to him: You have done the worst. You have sinned toward your Lord, you harmed your relative, and murdered your cousin. You killed yourself and weakened your tribe.' He called another son and said to him, My son, go to your cousin and untie him, go to your brother and bury him, and go to his mother and give her a hundred camels to compensate her for the loss of her son.' Al-Hasan Al-Basri who met him and studied at his hand said that when Qais bin Asem was dying, he called his thirty-three children, and advised them as follows: Oh my sons, fear Allah and remember what I will say, for no one will give you more sincere advice. When I die, make your seniors your leaders. Do not make your juniors your leaders for if you promote your seniors you will maintain your father's memory. Do not make your juniors your leaders for if you do so people will not only disrespect your seniors, but will look down at you. Do not wail on my death for I heard the Prophet forbidding wailing. Look after your wealth for it enlightens the generous and obviates the need to be mean. Do not beg people for that is the worst of wealth. Avoid bad traits which may please you once, but displease you many times.” Qais then called for his quiver, and asked his eldest son, Ali, to take out an arrow. He then asked him to break it which he did. He then asked him to break two arrows and this he did. He then asked his son to bundle thirty arrows with a tie and break them all, but his son could not. He said, My sons, you will be strong if united and weak if separated.' Then he composed the following poem: Glory is what the truthful father built and which was maintained by the children. Glory, bravery and leniency are best adorned with chastity and generosity Thirty you are, my sons, in face of calamities and trouble You are like thirty arrows bundled in a strong tie It will not be broken, but once separated will be easily broken Your elders, your best mannered, should be your leaders Your young should be protected and nurtured until your youngest matures. from the book ISLAMIC MANNERS By Shaykh Abdul-Fattaah Abu Ghuddah (RA)

Friday 29 June 2012

Integer programming


An integer programming problem is a mathematical optimization or feasibility program in which some or all of the variables are restricted to be integers. In many settings the term refers to integer linear programming, which is also known as mixed integer programming when some but not all the variables are restricted to be integers.

What is zero based costing?


Costing without assumptions is known as zero based costing.In zero based costing each and every parameter of cost is derived either through Experiments or through formula.

Accounting rate of return


Accounting rate of return, also known as the Average rate of return, or ARR is a financial ratio used in capital budgeting. The ratio does not take into account the concept of time value of money. ARR calculates the return, generated from net income of the proposed capital investment. The ARR is a percentage return. Say, if ARR = 7%, then it means that the project is expected to earn seven cents out of each dollar invested. If the ARR is equal to or greater than the required rate of return, the project is acceptable. If it is less than the desired rate, it should be rejected. When comparing investments, the higher the ARR, the more attractive the investment.

Sunday 24 June 2012

Efficient Market Hypothesis - EMH'


An investment theory that states it is impossible to "beat the market" because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information. According to the EMH, stocks always trade at their fair value on stock exchanges, making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices. As such, it should be impossible to outperform the overall market through expert stock selection or market timing, and that the only way an investor can possibly obtain higher returns is by purchasing riskier investments. Read more: http://www.investopedia.com/terms/e/efficientmarkethypothesis.asp#ixzz1ymBwiTw3

What Is a Statistical Hypothesis?


"A hypothesis is a statement of a relationship between two or more variables." A statistical hypothesis is simply a particular kind of hypothesis.A statistical hypothesis is either (1) a statement about the value of a population parameter (e.g., mean, median, mode, variance, standard deviation, proportion, total), or (2) a statement about the kind of probability distribution that a certain variable obeys.

Tuesday 19 June 2012

Ecotourism

Ecotourism" a has proven to be a difficult task given all the different players attempting to define it. People tend to define things in terms that are beneficial to themselves, hence the variety of definitions. There are however several workable definitions currently in wide use.The International Ecotourism Society defines Ecotourism as: "responsible travel to natural areas that conserves the environment and improves the welfare of local people".

Monday 18 June 2012

Legal Process Outsourcing (LPO)


Legal Process Outsourcing in India achieves its current share of 3-4 percent to 6-7 percent in the USD 250 billion global market by 2010. According the Associated Chambers of Commerce and Industry (ASSOCHAM), more than 200 top US companies are looking for offshore locations towards achieving saving of 30-70 percent. Key Areas of Expertise: - Para legal services - Intellectual property right services. - Contract review, amendments and proofing. - Litigation support, discovery and document processing; preparation of case law bibles; compilation of client / witness attendance and interview documents. - General research and review. - Corporate law. - Real estate law. - Family law. - Litigation law

Knowledge Process Outsourcing (KPO)


KPO is the outsourcing of specialized domain based skills and high-end knowledge. It is increasingly considered a crucial process for companies of all sizes to remain competitive in a rapidly changing business environment.

Accounting KPI (key performance indicators)


Building accounting KPIs system plays an important role in evaluating job performance of individual parts, divisions and the company’s objectives and performance management system in general. The development of accounting KPI metrics help to create measurement systems, information systems throughout the organization. I. Steps to create KPIs of Accounting examples • Setting up job purpose of Accounting department. • Setting up key responsibilities/key KRAs of this department. • Setting up elements that how to measure each KRA. • Setting up KPI of each KRA. • Summarize all KPIs of each department. II. KPI sampls for Accounting field 1. Total Liabilities: Total liabilities represent the sum of all monetary obligations of a business and all claims creditors have on its assets. 2. Cumulative Annual Growth Rate (CAGR): 3. Cash Flow Return on Investments (CFROI): This is similar to ROI, but the only difference is CASH is used inplace of Profit. 4. SG&A expenses: Selling, General, and Administrative Expenses include all salaries, indirect production, marketing, and general corporate expenses. 5. Net profit margin: Net Profit Margin equals the Total Net Income divided by Revenue, expressed as a percentage. 6. Shares Outstanding: Shares Outstanding is the outstanding number of shares of the class of common stock that is most actively traded. 7. Total Equity: Total Equity equals Preferred Stock Equity + Common Stock Equity. 8. Total Current Assets: Total Current Assets equals Cash and Equivalents + Receivables + Inventories + Other Current Assets. 9. Other Current Assets: Other Current Assets includes prepayments, deferred charges, and amounts (other than trade accounts) due from parents and subsidiaries. 10. Inventories: Inventories is merchandise bought for resale or supplies and raw materials purchased for use in revenue producing operations. 11. Net Receivables: Net Receivables are amounts owed to the company, net of any provisions for bad debts. 12. Operating income: Operating Income equals Gross Profit minus SG&A Expenses. It is the income from current operations. 13. Gross profit: Gross Profit equals Revenue minus Cost of Goods Sold. It identifies the amount available to cover other operating expenses. 14. Gross profit margin: Gross Profit Margin equals Gross Profit divided by Revenue, expressed as a percentage. 15. Cost of goods sold (COGS): Cost of Goods Sold includes all expenses directly associated with the production of goods or services the company sells (such as material, labor, overhead, and depreciation). It does not include SG&A. 16. Operating margin: Operating Margin equals Operating Income divided by Revenue, expressed as a percentage. 17. Goodwill: Goodwill is an accounting term used to reflect the portion of the book value of a business entity not directly attributable to its assets and liabilities. 18. Total Assets: Total Assets are everything of value that is owned by a company. 19. Accounts Payable: Money owed (payable) to suppliers for goods or services purchased on credit that must be paid within a year. 20. Long-Term Debt: Long-Term Debt represents the amount of borrowings due more than one year from the date of the balance sheet. III. KPIs of each position of Accounting field • Accounting assistant • Accounting coordinator • Accounting consultant • Accounting chairman • Accounting manager • Accounting officer • Accounting producer • Accounting president • Accounting recruiter • Accounting receptionist • Accounting secretary • Accounting team leader • Accounting VP

Thursday 14 June 2012

SWAP


A swap can be defined as barter or an exchange. A swap is contract whereby parties agree to exchange obligations that each of them have under their respective underlying contracts or we can say a swap is an agreement between two or more parties to exchange sequence of cash flows over a period in future . The parties that agree to swap are known as counterparties. Swap is an agreement between two counterparties to exchange two streams of cash flows—the parties "swap" the cash flow streams. Those cash flow streams can be defined in almost any manner. In other words: In a swap, two counterparties agree to a contractual arrangement wherein they agree to exchange cash flows at periodic intervals

Options


option is purchasing right but not the obligation, to buy or sell a specified underlying item at an agreed upon price, known as exercise price or strike price. In other words Options are contracts that give the buyers the right (but not the obligation) to buy or sell a specified quantity of certain underlying assets at a specified price on or before a specified date. On the other hand, the seller is under obligation to perform the contract (buy or sell). The underlying asset can be a share, index, interest rate, bond, rupee-dollar exchange rate, sugar, crude oil, Soya bean, cotton, coffee etc. An option contract is a unilateral agreement in which one party, the option writer, is obligated to perform under the contract if the option holder exercises his or her option. (The option holder pays a fee or "premium" to the writer for this option.) The option holder, however, is not under any obligation and will require performance only when the exercise price is favorable relative to current market prices. If, on the one hand, prices move unfavorably to the option holder, the holder loses only the premium. If, on the other hand, prices move favorably for the option holder, the holder has theoretically unlimited gain at the expense of the option writer. In an option contract the exercise price (strike price), delivery date (maturity date or expiry), and quantity and quality of the commodity are fixed. There are two basic types of options-call and put. A call option gives an investor right to buy underlying item during specified period of time at an agreed upon price while put option confers the right to sell it. Before going into Call and Put Options it is necessary to understand • American options can be exercised at any time between the date of purchase and the expiration date. Most exchange-traded options are of this type. . • European options are different from American options in that they can only be exercised at the end of their lives. The options on the Nifty and Sensex are European style options--meaning that the buyer of these options can exercise his options only on the expiry day. He cannot exercise them before the expiry of the contracts as in case with options on stocks. As such the buyer of index options needs to square up his positions to get out of the market. In India all stock options are American style options and index options are European style options. The significant difference between a future and an option is that the option provides the contracting parties only an option, not an obligation, to buy or sell a financial instrument or security at a pre-fixed price, called the strike price. Obviously, the option buyer will exercise the option only when he is in the money, that is, he gains by exercising the option

FUTURES


A Future contract is an agreement between two parties to buy or sell an asset at a certain time in future at a certain price. Future contracts are special type of forward contracts in the sense that the former are standardized exchange-traded contracts. In other words A future contract is one in which one party agrees to buy from/ sell to the other party a specified asset at price agreed at the time of contract and payable on future date. The agreed price is known as strike price. The underlying asset can be commodity, currency debt, or equity. The Futures are usually performed by payment of difference between strike price and market price on fixed future date and not by the physical delivery and payment in full on that date. Features Of Future Contract • An organized exchange. • Unlike the Forwards, the Future contracts are standardized contracts and are traded on stock exchange • It is standardized contract with standard underlying instruments, a standard quantity and quality of the underlying instrument that can be delivered and standard time for such settlement transactions. • Existence of a regulatory authority. • Margin requirements and daily settlement to act as a safeguard. • Leveraged positions--only margin required. • Trading in either direction--short/long • Index trading. • Hedging/Arbitrage opportunity.

Forward Contract


There are no sure things in global markets. Deals that looked good six months ago can quickly turn sour if unforeseen economic and political developments trigger fluctuations in exchange rates or commodity prices Over the years traders have developed tools to cope with these uncertainties. One of this tool is the forward agreements “A contract that commits one party to buy and other to sell a given quantity of an asset for fixed price on specified future date”. In Forward Contracts one of the parties assumes a long position and agrees to buy the underlying asset at a certain future date for a certain price. The specified price is called the delivery price. The contract terms like delivery price, quantity are mutually agreed upon by the parties to contract. No margins are generally payable by any of the parties to the other. Features of Forward Contract • It is negotiated contract between two parties i.e. Forward contract being a bilateral contracts, hence exposed to counterparty risk. • Each Contract is custom designed and hence unique in terms of contract size, expiration date, asset quality, asset type etc. • A contract has to be settled in delivery or cash on expiration date • In case one of two parties wishes to reverse a contract, he has to compulsorily go to the other party. The counter party being in a monopoly situation can command at the price he wants.

Derivative


Derivatives are financial contracts whose value/price is dependent on the behavior of the price of one or more basic underlying asset (often simply known as underlying).These contracts are legally binding agreements, made on trading screen of stock exchange, to buy or sell an asset in future. The asset can be share, index, interest rate, bond ,rupee dollar exchange rate ,sugar , crude oil, soya been, coffee etc. Everybody wants to know about them, everybody wants to talk about them. Derivatives however remain a type of financial instrument that few of us understand and fewer still fully appreciate, although many of us have invested indirectly in derivatives by purchasing mutual funds or participating in a pension plan whose underlying assets include derivative products A simple example of derivative is curd, which is derivative of milk. The price of curd depends upon price of milk which in turn depends upon the demand and supply of milk. Section 2(aa) of Securities Contract (Regulation) Act 1956 defines Derivative as: "Derivative" includes - • “a security derived from a debt instrument, share, loan whether secured or unsecured, risk instrument or contract for differences or any other form of security; • a contract which derives its value from the prices, or index or prices, of underlying securities ”. A working definition of derivative which will help to lay foundation. “A derivative can be defined as a financial instrument whose value depends on (or derives from) the values of other, more basic underlying variables.” ---John C. Hull Derivatives are compared to insurance. Just as you pay an insurance company a premium in order to obtain some protection against a specific event, there are derivative products that have a payoff contingent upon the occurrence of some event for which you must pay a premium in advance. Example Suppose you have a home of Rs. 50, 00,000. You insure this house for premium of Rs 15000 (It is a very risky house!) Now you think about policy (ignoring the house) as an investment. • Suppose the house is fine after 1 year. You have lost the premium of Rs 15000. • Suppose your house is fully damaged and broken in one year . You receive Rs 50,00,0000 on just paying premium of Rs 15,000.If you have bought insurance of any sort you have bought an option. Option is one type of a derivative.

RATIO ANALYSIS


A ratio is used as a yard stick for evaluating the financial position and performance of a firm. Ratio analysis is the process of establishing liquidity, solvency and profitability of a concern. Ratio analysis can be used by the management as a means of checking up on the efficiency with which working capital is being managed in the enterprise. This is the most important tool available to financial analysts for their work. An accounting ratio shows the relationship in mathematical terms between two inter related accounting figures. Ratio analysis simplifies the comprehension of financial statements. Ratio calculated here on the following ways: a) Assessing the liquidity. b) Assessing the solvency position. c) Assessing the efficiency in resource utilization. d) Assessing the profitability of the firm.

MANAGEMENT OF WORKING CAPITAL


Guided by the above criteria, management will use a combination of policies and techniques for the management of working capital. These policies aim at managing the current assets (generally cash and cash equivalents, inventories and debtors) and the short term financing such that cash flows and returns are acceptable.  Cash Management: Identify the cash balance which allows for the business to meet day-to-day expenses, but reduces cash holding costs.  Inventory Management: Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials and minimizes re ordering cost and hence increases cash flow ;  Debtors Management :Identify the appropriate credit policy ie credit terms which will attract customers , such that any impact on cash flows and cash conversion cycle will be offset by increased receive and hence return on capital.  Short Financing: Identify the appropriate source of financing; given the cash conversion cycle, the inventory is ideally financed by credit granted by the supplier: however it may be necessary to utilize a bank loan, or to convert “debtors to cash”.  These items are also referred to as circulating capital.

FACTORS DETERMINING WORKING CAPITAL


Working Capital refers to that part of the firm’s capital, which is required for financing short-term or current assets such a cash marketable securities, debtors and inventories. Funds thus, invested in current assets keep revolving fast and are constantly converted into cash and this cash flow out again in exchange for other current assets. Working Capital is also known as revolving or circulating capital or short-term capital.The following factors determine the working capital requirements of a firm --- 1.     Nature of the Industry 2.     Demand of Industry 3.     Cash requirements 4.     Nature of the Business 5.     Manufacturing time 6.     Volume of Sales 7.     Terms of Purchase and Sales 8.     Inventory Turnover 9.     Business Turnover 10. Business Cycle 11. Current Assets requirements 12. Production Cycle 13.     Credit control 14.     Inflation or Price level changes 15.     Profit planning and control 16.     Repayment ability 17.     Cash reserves 18.     Operation efficiency 19.     Change in Technology 20.     Firm’s finance and dividend policy 21.     Attitude towards Risk

Health Tourism in Kerala/Medical tourism in kerala


Kerala, the "God's own country" is ornamental with emerald backwaters, serene beaches and lush green coconut groves. Each year 1000's of travelers from around the world visit here to explore the tranquil beauty of kerala. Recently Kerala, the south Indian state has attained a pride of place in the field of medicine. For many years kerala has been offering ayurvedic treatments and now a days medical tourism is added as another facet of Kerala's tourism industry. With a medical tourism package a medical tourist will get a product where apart from travel package, he / she will be provided medical treatment at the best hospitals. The medical treatment for various ailments are packaged with leisure packages at the best tourist resorts. Kerala state tourism department, in collaboration with the various tour operators, travel agents, hoteliers and with the people who are in the medical field is trying to develop kerala as a world class destination for medical tourism. Presently, kerala tourism is marketing several Ayurveda & health packages and has got tremendous potential to boom in the medical tourism arena. Kerala is famous across the globe for its alternative medical therapies such as Ayurveda. In all the 14 district of kerala one can find quality ayurveda centers. Ayurveda is an ancient form of treatment which enables the patient to rejuvenate and revitalize the mind, body and soul and it has abundant of well trained people who deals in this special form of treatment. Besides Ayurveda, Kerala has got experienced allopathic medical professionals and well equipped hospitals that offer treatments of western standards at an affordable price. Recent years has witnessed that patients of western countries has started choosing Kerala as a destination for treatment of various diseases due to high quality services and lower treatment costs. Kerala is well connected to several Middle East European and Southeast countries by air. Even it has good number of hospitals and renowned specialized doctors in most of the disciplines. Moreover the above said features, the wonderful climate in kerala and the ability of natives to speak English helps Kerala to be the most sought after destination for medical treatment in the entire nation. Patients from around the globe settled for Kerala as because the charges of major surgical procedures like cardiac surgery, dentistry, and cosmetic surgery is very low in compare to develop western countries. Even in Kerala, patients get the countries. The medical professionals of Kerala provides good pre and post-operative care to their patients so that they can have a positive experience. After medical treatments the medical tourists can spend time in high quality resorts or houseboats in kerala.

Wednesday 13 June 2012

Chi square test


A chi-squared test, also referred to as chi-square test or test, is any statistical hypothesis test in which the sampling distribution of the test statistic is a chi-squared distribution when the null hypothesis is true, or any in which this is asymptotically true, meaning that the sampling distribution (if the null hypothesis is true) can be made to approximate a chi-squared distribution as closely as desired by making the sample size large enough. The chi-square test is used to determine whether there is a significant difference between the expected frequencies and the observed frequencies in one or more categories. Do the number of individuals or objects that fall in each category differ significantly from the number you would expect? Is this difference between the expected and observed due to sampling error, or is it a real difference?

Non banking finance companies


Non-bank financial companies (NBFCs) are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. These institutions are not allowed to take deposits from the public. Nonetheless, all operations of these institutions are still exercised under bank regulation

Tuesday 12 June 2012

Cultural Tourism


Cultural Tourism satisfies cultural and intellectual curiosity and involves visit to ancient monuments,places of historical and religious importance.eg:India is a prominent cultural destination.

Monday 11 June 2012

Pop-Culture Tourism


Pop-culture tourism, unlike some types of travel, is by definition, harmless fun. Simply put, it involves destinations with indelible connections to popular books, films, television shows, music, major events or a particular celebrity.

Slum Tourism


One of the most controversial types of travel involves tours of vast urban slums in places like Rio de Janeiro, Soweto, Mumbai, Manila, Cairo and Mexico City. “Shanty tourism” or “poverty tourism” is certifiably questionable and on the ethical borderline when the experience is utterly passive. If however, visitors engage in some kind of community outreach or volunteer program, the collective positive impact falls beyond the realm of mere “slum tourism”.

Ghost Tourism


A fascination with the supernatural drives some people to travel in search of the paranormal. Behind many a famous landmark is a great ghost story and indeed, popular tours in places like Dublin, St. Augustine, Florida, Quebec City and Brisbane explore historic, “haunted” city quarters.

Dark tourism


Dark tourism (also black tourism or grief tourism) is tourism involving travel to sites associated with death and tragedy. Thanatourism,derived from the Ancient Greek word thanatos for the personification of death, is associated with dark tourism but refers more specifically to violent death; it is used in fewer contexts than the terms dark tourism and grief tourism. The main draw however to these locations is mostly due to their historical value rather than their associations with death and sufferingThe name is self-explanatory but to expound further, dark tourism is travel to some of the most somber and grim historical points of interest on the planet. Think sites of unspeakable horror, like the Auschwitz-Birkenau concentration camps in Poland, Khmer Rouge “Killing Fields” of Cambodia and Robben Island off the Cape Town coast.

Disaster Tourism


“Disaster Tourism” is somewhat of a paradox. In the name of self-preservation after all, most people flee from natural disasters. Disaster tourism is the act of traveling to a disaster area as a matter of curiosity. The behavior can be a nuisance if it hinders rescue, relief, and recovery operation A slim, intrepid minority however, prefer to fling themselves in the eye of the storm, as it were, or show up to observe the aftermath. Less aid workers and more storm chasers, these adrenaline fiends just like to watch.

Friday 8 June 2012

Plant lay out


Plant lay out ideally involve the allocation of space and the arrangement of equipment in such a manner that over all operations cost can be minimized .Objectives of plant layout---Produce batter quality product ,Maximum utilization of floor area ,Reduce internal transport ,Less scrap and waste ,Few accidents,Minimum production delays ,Principles of plant layout-----Principle of overall integration ,Principle of minimum distance,Principle of flow,Principle of cubic space ,Principle of satisfaction and safety,Principle of flexibility Neatness .Symptoms of bad layout Excess work in progress ,Poor utilization of available space,Long material flow in line , long production cycle ,Difficult to supervise and control .types of plant lay out 1.Process or ‘Functional’ Plant Layout,2.Line or ‘Product’ Plant Layout,3.‘Fixed Position’ Layout ,4.‘Random’ Layout .Plant layout techniques Templates ,3 D models

Monday 4 June 2012

PERT


PERT (Program Evaluation and Review Technique) was developed in 1958 to help measure and control the progress of the Polaris Fleet Ballistic Missile program. The technique earned considerable respect for assisting in the management of thousands of different contractors and agencies, and is credited with helping to advance the completion date of the program by two years PERT is a technique for estimating and planning a large project. One of its most powerful concepts is that project management is the management of probabilities. PERT makes use of simple statistical mathematics in order to come up with a probability distribution for the completion dates of the project milestones.For example, in PERT tasks are estimated with three numbers: The best case, the nominal case, and the worst case. These three estimates are combined into an expected duration, and a standard deviation. Thus the duration of each task is presumed to be a random variable with a known distribution. The math is very simple. Consider a task whose best/nominal/worst estimate is 3/5/9. The expected completion time (µ) is assumed to be (4*nominal + best + worst)/6, or in our case (4*5+3+9)/6 or about 5.33. The standard deviation (s) is assumed to be (worst - best)/6 or (9-3)/6 or 1. Now consider a simple project consisting of three tasks. We represent this as a simple chart with circles and arrows. The circles denote events, and the arrows denote tasks

Sunday 3 June 2012

Great message About MY FATHER


A great man who spares his life Hides his feelings. Ignores his happines Accepts the pain. ... Forgets his comfort. Struggles at work. To make us live comfortable&be happy in our life witout struggle. So don't hurt that gentle DAD! Think of your DAD. "Share"it to all DAD lovers I'm proud of my DAD

Poem Of Love Accounting


Poem Of Love Accounting In the journal paper of my heart, I have written a journal entry. Debiting your love and your affection. Darling you write the narration, Your first love, I had already adjusted On the ledger-folio column, Any way our relations are true assets On double-entry system In addition, our love is true real and tangible You debit-what comes in, I credit-what goes out. Your beauty is the capital of business. My eyes are stock in trade. Let us enter into transaction, You secretly give me a trade discount, I openly give you a cash discount And thus my partner, Our trading and profit-loss account will show super profit My dear let us reconcile, all our errors and total the trial balance of our affairs arithmetically without maintaining any suspense account. In the balance sheet of our life Our children will be our true assets and liabilities! If they are boys, they will be our sundry debtors If they are girls, they will be our sundry creditors But if we have a boy and a girl, Our balance sheet will tally automatically! I am The Greatest Ever

Saturday 2 June 2012

Altman Z-score


The Altman Z-Score is a quantitative balance-sheet method of determining a company’s financial health. “Safe” companies, i.e. companies that have a low probability of bankruptcy, have an Altman Z-Score greater than 3.0.The Altman Z-Score is a measure of a company’s health and likelihood of bankruptcy. Several key ratios are used in the formulation of an Altman Z-Score Value.The Z-score formula for predicting bankruptcy was published in 1968 by Edward I. Altman, who was, at the time, an Assistant Professor of Finance at New York University. The formula may be used to predict the probability that a firm will go into bankruptcy within two years. Z-scores are used to predict corporate defaults and an easy-to-calculate control measure for the financial distress status of companies in academic studies. The Z-score uses multiple corporate income and balance sheet values to measure the financial health of a company.The Z-score is a linear combination of four or five common business ratios, weighted by coefficients. The coefficients were estimated by identifying a set of firms which had declared bankruptcy and then collecting a matched sample of firms which had survived, with matching by industry and approximate size (assets).Altman applied the statistical method of discriminant analysis to a dataset of publicly held manufacturers. The estimation was originally based on data from publicly held manufacturers, but has since been re-estimated based on other datasets for private manufacturing, non-manufacturing and service companies.Generally speaking, the lower the score, the higher the odds of bankruptcy. Companies with Z-Scores above 3 are considered to be healthy and, therefore, unlikely to enter bankruptcy. The Z-Score model is the 1960′s brainchild of Professor Edward Altman of NYU.For Public Companies, the Model is calculated as follows: Z = 1.2*X1 + 1.4*X2 + 3.3*X3 + 0.6*X4 + 1.0*X5.There are 5 variables: X1 = (Working Capital/Total Assets). X2 = (Retained Earnings/Total Assets). X3 = (EBITDA/Total Assets). X4 = (Market Value of Equity/Total Liabilities). X5 = (Net Sales/Total Assets).

Sinking fund


A fund into which a company sets aside money over time, in order to retire its preferred stock, bonds or debentures. A fund into which a company sets aside money over time, in order to retire its preferred stock, bonds or debentures. In the case of bonds, incremental payments into the sinking fund can soften the financial impact at maturity. Investors prefer bonds and debentures backed by sinking funds because there is less risk of a default.A sinking fund is a fund established by a government agency or business for the purpose of reducing debt by repaying or purchasing outstanding loans and securities held against the entity. It helps keep the borrower liquid so it can repay the bondholder.Rather than the issuer repaying the entire principal of a bond issue on the maturity date, another company buys back a portion of the issue annually and usually at a fixed par value or at the current market value of the bonds, whichever is less. Should interest rates decline following a bond issue, sinking-fund provisions allow a firm to lessen the interest rate risk of its bonds as it essentially replaces a portion of existing debt with lower-yielding bonds.From the investor's point of view, a sinking fund adds safety to a corporate bond issue: with it, the issuing company is less likely to default on the repayment of the remaining principal upon maturity since the amount of the final repayment is substantially less. This added safety affects the interest rate at which the company is able to offer bonds in the marketplace.

Friday 1 June 2012

National Income Accounting


A term used in economics to refer to the bookkeeping system that a national government uses to measure the level of the country's economic activity in a given time period. National income accounting records the level of activity in accounts such as total revenues earned by domestic corporations, wages paid to foreign and domestic workers, and the amount spent on sales and income taxes by corporations and individuals residing in the country.National income accounting provides economists and statisticians with detailed information that can be used to track the health of an economy and to forecast future growth and development. Although national income accounting is not an exact science, it provides useful insight into how well an economy is functioning, and where monies are being generated and spent.Some of the metrics calculated by using national income accounting include gross domestic product (GDP), gross national product (GNP) and gross national income (GNI).

Zero Hedge


Zero Hedge is an American financial blog. It reports on Wall Street and the financial sector and is credited with bringing the controversial practice of flash trading to public attention in 2009 via a series of posts alleging that Goldman Sachs' access to flash order information allowed the firm to gain unfair profits. The blog is written by a group of people who write under the pseudonym "Tyler Durden". Though derided by the mainstream press as being fraught with conspiracy theories, the blog grew quickly and has been called a "blog sensation".

Johari Window model


The Johari Window model is a simple and useful tool for illustrating and improving self-awareness, and mutual understanding between individuals within a group. The Johari Window model can also be used to assess and improve a group's relationship with other groupsThe Johari window is a technique created by Joseph Luft and Harry Ingham in 1955 in the United States, used to help people better understand their mental instability. It is used primarily in self-help groups and corporate settings as a heuristic exercise.When performing the exercise, subjects are given a list of 56 adjectives and pick five or six that they feel describe their own personality. Peers of the subject are then given the same list, and each pick five or six adjectives that describe the subject. These adjectives are then mapped onto a grid.

Entrepreneur


One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them. Main Characteristics of Entrepreneurs are Desire for responsibility,Preference for moderate risk,Confidence in their ability to succeed,Desire for immediate feedback,High level of energy,Future orientation,Skilled at organizing,Value achievement over money

Thursday 31 May 2012

Six Sigma


Six Sigma stands for Six Standard Deviations (Sigma is the Greek letter used to represent standard deviation in statistics) from mean. Six Sigma methodology provides the techniques and tools to improve the capability and reduce the defects in any process.Six Sigma is a business management strategy, originally developed by Motorola in 1986.Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects (errors) and minimizing variability in manufacturing and business processes.Six Sigma is a systematical process of “quality improvement through the disciplined data-analyzing approach, and by improving the organizational process by eliminating the defects or the obstacles which prevents the organizations to reach the perfection”.The Six Sigma ensures the quality control, total quality management and zero defects.Customer requirements, design quality, metrics and measures, employee involvement and continuous improvement are main elements of Six Sigma Process Improvement. Through the implementation of the Six Sigma it is made sure that the goals are set on the improvement of all processes to reach the level of better quality. “The Six Sigma” shows the organization’s ability of highly capable processing in producing the outputs within the limited specifications. There fore it can be said that the processes that operates with the Six Sigma quality, is able to produce a quality products at a low rate of defects.When a process attains the certification of Six Sigma quality, it is clear that the organization has attained the standard deviations form the means of the production till the specific limitations, and so can make sure that there is no room for the items to fail to meet the specifications. Altogether we can consider the Six Sigma as the professionalizing of the quality management functions.ProjectsIndia is a training and consultancy organisation established in the year 2002 to train personnel in Lean manufacturing and Six Sigma improvement methodologies. The training programs have been conducted around the world in countries such as U.K, CHINA,INDIA,DUBAI,SPAIN ,SOUDIARABIA and JORDAN.

The Supply Chain


The Supply Chain“Users buy successful supplier products in order to better manufacture their own products and achieve market leadership. This is where the big money is.”NEMI(The National Electronics Manufacturing Initiative’s mission ), March 11, 1996

Financial Modeling


The process by which a firm constructs a financial representation of some, or all, aspects of the firm or given security. The model is usually characterized by performing calculations, and makes recommendations based on that information. The model may also summarize particular events for the end user and provide direction regarding possible actions or alternatives. If you are involved in financial decision making/ planning related to large corporate, then you would definitely need financial modelling day in and day out. Financial modeling is a mandatory activity for investment bankers, bankers, project finance persons, equity research folks, PE & VCs.

Balanced Scorecard (BSC)


The Balanced Scorecard (BSC) is a strategic performance management tool - a semi-standard structured report, supported by proven design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.It allows organisations to manage and measure the delivery of their strategy. The concept was initially introduced by Robert Kaplan and David Norton in a Harvard Business Review Article in 1992 and has since then been voted one of the most influential business ideas of the past 75 years.

Off-Balance-Sheet Financing


With off-balance sheet accounting, a company didn't have to include certain assets and liabilities in its balance sheet -- it was "off-sheet" and therefore not part of their financial statements. We'll talk more later about how the Sarbanes-Oxley Act changed this practice. While there are legitimate reasons for off-balance-sheet accounting, it is often used to make a company look like it has far less debt than it actually does. Some types of off-balance-sheet accounting move debt to a newly created company specifically for that purpose, which was the case with Enron. These are called special purpose entities (SPEs) and are also known as variable interest entities (VIEs).
An accounting technique in which a debt for which a company is obligated does not appear on the company's balance sheet as a liability. Keeping debt off the balance sheet allows a company to appear more creditworthy but misrepresents the firm's financial structure to creditors, shareholders, and the public. The sudden collapse of energy-trading giant Enron Corporation is attributed in large part to the firm's off-balance-sheet financing through multiple partnerships. A type of company financing that does not appear as a liability on the company's balance sheet. A company may engage in off-balance-sheet financing if it wishes to keep its debt-equity ratio low and thereby appear as if it is carrying little debt. This, in turn, makes the company look more creditworthy than it would otherwise. A common form of off-balance-sheet financing is an operating lease, in which a company rents, rather than buys, a capital asset. In an operating lease, the company must record only the rental payments, and not the whole cost of the asset. While off-balance-sheet financing is permissible, it can become unsustainable and can hide a company's true financial state. The term came into common parlance when Enron collapsed in the wake of excessive off-balance-sheet financing. See also: Enron scandal.

Value at Risk (VaR)


VaR is the maximum potential loss that a portfolio can suffer in the 1% worst cases in N-days. -> wrong! VaR is the minimum potential loss that a portfolio can suffer in the 1% worst cases in N-days. -> Embarassing! VaR is the maximum potential loss that a portfolio can suffer in the 99% best cases in N-days. -> compromise! VaR is defined for a given confidence level time horizon.Modeling VaR would involve estimating ‘extreme percentiles’ - statistical distributions characterizing ‘returns’. time aggregation - square-root-of-time rule.

What is Risk Management


Risk Management includes the following:Measurement – What do we measure?.Individual and portfolio.Monitor – How do we measure? Methods to estimate ‘risk’ of a security or portfolio.Control – How do we control?.Allocation and Supervision

Option


An option is a contract that gives its owner the right, but not the obligation to conduct a transaction involving an underlying asset at a predetermined future date and at a predetermined price (exercise or strike price).

Wednesday 30 May 2012

ICQ ("I seek you"),


ICQ ("I seek you"), the software developed by an Israeli company called Mirabilis lets users know when their friends are logged on and initiate real-time chat sessions. If your friend doesn't have the program, you can click on a button and send him or her a link to download the software.Mirabilis was sold in June 1998 to America Online, with zero revenues, for $287 million in cash. Worldwide instant messaging users will reach 180 million by 2004, according to research by Gartner Group.Not only will almost 200 million people be using instant messaging in 2004, but Gartner also predicts that 60 percent of all real-time online communication -- either voice or text -- will be driven through instant messaging technology.The first version of the program was released in November 1996 and ICQ became the first Internet-wide instant messaging service, later patenting the technology.AOL acquired Mirabilis on June 8, 1998, for US$407 million. In 2001, ICQ had over 100 million accounts registered. In April 2010, AOL sold ICQ to Digital Sky Technologies for $187.5 million.

Viral Marketing


Any advertising that propagates itself the way viruses do. e.g. When Hotmail users send e-mails, they infect the recipients with the tagline at the bottom of their messages.Also called V-Marketing, organic marketing, word-of-mouth marketing or word-of-mouse marketing.It can be delivered by word of mouth or enhanced by the network effects of the Internet. Viral marketing may take the form of video clips, interactive Flash games, advergames, ebooks, brandable software, images, or text messages.

What Is Fraud?


Black’s Law DictionaryIntentional perversion of truth,False representation of a matter of fact,Whether by words or conduct False, misleading, concealment of that which should have been disclosed For the purpose of inducing another,In reliance upon perversion of truth ,To part with some valuable thing belonging to him or to surrender a legal right.Black’s Law Dictionary: “An intentional perversion of truth for the purpose of inducing another in reliance upon it to part with some valuable thing belonging to him or to surrender a legal right; a false representation of a matter of fact, whether by words or by conduct, by false or misleading allegations, or by concealment of that which should have been disclosed, which deceives and is intended to deceive another so that he shall act upon it to his legal injury.” “Bad” Fraud---Acquirer Overpays,Earnings management,False revenue recognition schemes,Costs and expenses schemes Understatement of liabilities,Illegal conduct,Liability for past conduct,Impact upon future earnings Good” Fraud----Acquirer Underpays ,Misconduct that if discovered, reduces costs and increases earnings

Tuesday 29 May 2012

Creativity and Innovation


Creativity – the ability to develop new ideas and to discover new ways of looking at problems and opportunities.elements of creativity are ---Unique (original),Valued (useful),Intent (purpose),Continuance (implementation excellence).For enhancing individual creativity,Allow yourself to be creative,Give your mind fresh input every day,Keep a journal handy to record your thoughts and ideas, Read books on stimulating creativity ,Take some time off.
Innovation – the ability to apply creative solutions to problems or opportunities to enhance or to enrich people’s lives.It is the creation of better or more effective products, processes, services, technologies, or ideas that are accepted by markets,

Factors to Consider Before Launching into E-Commerce


Electronic commerce, commonly known as e-commerce or e-comm, refers to the buying and selling of products or services over electronic systems such as the Internet and other computer networks How a company exploits the Web’s interconnectivity and the opportunities it creates to transform relationships with suppliers, customers, and others is crucial to its success. Web success requires a company to develop a plan for integrating the Web into its overall strategy. Developing a deep, lasting relationship with customers takes on even greater importance on the Web. Creating a meaningful presence on the Web requires an ongoing investment of resources – time, money, energy, and talent. Measuring the success of a Web-based sales effort is essential to remaining relevant to customers whose tastes, needs, and preferences constantly change.

Working Capital Cycle


Working Capital Cycle
Working capital is vital to a business. They have to have funds available to pay their day to day bills, wages and so on. The working capital is made up of the current assets net of the current liabilities. It is very important to a company to manage its working capital carefully. This is particularly true where there is a substantial time lag between making the product and receiving the money for it. In this situation the company has paid out all the costs associated with making the product (labour, raw materials and so on) but not yet got any money for it. They must therefore ensure they have enough cash to do this. The way working capital moves around the business is modelled by the working capital cycle. This shows the cash coming into the business, what happens to it while the business has it and then where it goes. A simple working capital cycle may look something like:- Between each stage of this working capital cycle there is a time delay. For some businesses this will be very long where it takes them a long time to make and sell the product. They will need a substantial amount of working capital to survive. Others though may receive their cash very quickly after paying out for raw materials etc... (perhaps even before they've paid their bills?) - they will need less working capital. The above network diagram may offer a clear picture of a complete working capital i.e. it is a cash to cash phenomenon. In the diagram, Raw material stock refers to material only. In WIP, components involve are raw materials, wages and overheads- more specifically manufacturing overhead. Finished stock consists component of material, wages, and selling and distribution overheads. Debtors include materials, wages, overheads and profit. Creditors involve for the components of raw materials etc. while estimating the working capital requirement. The operating cycle consists of the following events which continues throughout the life of a firm remaining engaged in commercial activities: I. Conversion of cash into raw materials. II. Conversion of raw materials in WIP III. Conversion of WIP into finished goods. IV. Conversion of finished goods into account receivable and Debtors through sales. V. Conversion of Accounts receivable into cash. Calculation Of Working Capital Cycle: So far we have discussed about nature and scope of working capital cycle. The finance manager must be prepared to know the exact period of operating cycle as because he has to plan for ensuring liquidity and profitability of the concern. Component wise working capital cycle-period can be ascertained as below: In the form of a simple equation, working capital cycle can be represented as below: WWC = R + W + F + D + B – C Where, WWC= Working Capital Cycle R= Raw Materials W= Work in progress F= Finished StockB=Cash at Bank D= Debtors and Receivable collection periodC= Credit period available

Working capital management


Working capital management Positive working capital means that the company is able to pay off its short-term liabilities. Negative working capital means that a company currently is unable to meet its short-term liabilities with its current assets (cash, accounts receivable and inventory). Also known as "net working capital", or the "working capital ratio". Working capital, also known as net working capital, is a financial metric which represents operating liquidity available to a business. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital. It is calculated as current assets minus current liabilities. If current assets are less than current liabilities, an entity has a working capital deficiency, also called a working capital deficit. A company can be endowed with assets and profitability but short of liquidity if its assets cannot readily be converted into cash. Positive working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and upcoming operational expenses. The management of working capital involves managing inventories, accounts receivable and payable and cash. Decisions relating to working capital and short term financing are referred to as working capital management. These involve managing the relationship between a firm's short-term assets and its short-term liabilities. The goal of working capital management is to ensure that the firm is able to continue its operations and that it has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses. Decision criteria By definition, working capital management entails short term decisions - generally, relating to the next one year period - which are "reversible". These decisions are therefore not taken on the same basis as Capital Investment Decisions (NPV or related, as above) rather they will be based on cash flows and / or profitability. • One measure of cash flow is provided by the cash conversion cycle - the net number of days from the outlay of cash for raw material to receiving payment from the customer. As a management tool, this metric makes explicit the inter-relatedness of decisions relating to inventories, accounts receivable and payable, and cash. Because this number effectively corresponds to the time that the firm's cash is tied up in operations and unavailable for other activities, management generally aims at a low net count. • In this context, the most useful measure of profitability is Return on capital (ROC). The result is shown as a percentage, determined by dividing relevant income for the 12 months by capital employed; Return on equity (ROE) shows this result for the firm's shareholders. Firm value is enhanced when, and if, the return on capital, which results from working capital management, exceeds the cost of capital, which results from capital investment decisions as above. ROC measures are therefore useful as a management tool, in that they link short-term policy with long-term decision making. See Economic value added (EVA). Management of working capital Guided by the above criteria, management will use a combination of policies and techniques for the management of working capital. These policies aim at managing the current assets (generally cash and cash equivalents, inventories and debtors) and the short term financing, such that cash flows and returns are acceptable. • Cash management. Identify the cash balance which allows for the business to meet day to day expenses, but reduces cash holding costs. • Inventory management. Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials - and minimizes reordering costs - and hence increases cash flow; see Supply chain management; Just In Time (JIT); Economic order quantity (EOQ); Economic production quantity (EPQ). • Debtors management. Identify the appropriate credit policy, i.e. credit terms which will attract customers, such that any impact on cash flows and the cash conversion cycle will be offset by increased revenue and hence Return on Capital (or vice versa); see Discounts and allowances. • Short term financing. Identify the appropriate source of financing, given the cash conversion cycle: the inventory is ideally financed by credit granted by the supplier; however, it may be necessary to utilize a bank loan (or overdraft), or to "convert debtors to cash" through "factoring". working capital needs also fluctuate during the year • The amount of funds tied up in working capital would not typically be a constant figure throughout the year. • Only in the most unusual of businesses would there be a constant need for working capital funding. For most businesses there would be weekly fluctuations. • Many businesses operate in industries that have seasonal changes in demand. This means that sales, stocks, debtors, etc. would be at higher levels at some predictable times of the year than at others. • In principle, the working capital need can be separated into two parts: • • A fixed part, and • • A fluctuating part • The fixed part is probably defined in amount as the minimum working capital requirement for the year. It is widely advocated that the firm should be funded in the way shown in the diagram below: • The more permanent needs (fixed assets and the fixed element of working capital) should be financed from fairly permanent sources (e.g. equity and loan stocks); the fluctuating element should be financed from a short-term source (e.g. a bank overdraft), which can be drawn on and repaid easily and at short notice.