Coougar - Highlights essays

Coougar - Highlights essays Cougaar (Cognitive Agent Architecture) is the most advanced agent architecture to date and was demonstrated by DARPA and DLAs 5-year Advanced Logistics Project (ALP). ALPs final demonstration was held in May 2001 and consisted of building a level-5 logistics plan in one hour. The demonstration showed the results of 300 organizations with 5000 functional processes working together to create the logistics plan. The plan gives the methods to transport food, fuel, construction material, ammo, medical supplies, spare parts, 20,000 major end items, and 33,000 people transported from US to the tactical assembly area. Courgaar is patterned after the Human Cognitive Process and is based on agent-oriented architecture. The human cognitive process consists of three functions: 1. Task Expander Function - Decomposing larger tasks into smaller ones 2. Allocator Function Allocate resources to those tasks. 3. Assessor Function Continually assess how we are doing. Agent-oriented architecture is the next step beyond object-oriented or the client-server model. Object-oriented focuses on a data centric view to build objects. In object-oriented systems there is a central point of process coordination. Agent-oriented shifts to a process centric view of creating systems. It is still based on OO technologies but uses a process based approach to design focused on emulating the properties of agency, of humans, yielding distinct advantages over its predecessor. Agent-oriented systems demonstrate true distributed computing. Clients coordinate data and processes between all members of the system removing the need for a central server. Each component is self managing and can dynamically establish relationships, coordinate with other components, and communicate within the system as needed. What is an agent and what do they do? An agent is an element of software that ca ...

American Weight Gain and the Primary Concern

American Weight Gain and the Primary Concern Introduction A primary concern for many Americans is undesirable weight gain, which relates to food choices made daily. But what if people are aware of their food choices, but not what is in the actual food itself? With obesity on a constant rise, as well as other major health issues, many individuals are searching for reasons and answers. As most humans are omnivores, we consume various amounts of carbohydrates, sugars, and other fatty substances. In particular, high fructose corn syrup which is found in many of the daily food choices we consume. Yet ask yourself do you know what high fructose corn syrup is, or where it is found? In a society where maintaining a healthy lifestyle is important people need to investigate what he or she is putting in their bodies, such as high fructose corn syrup. What is high fructose corn syrup? High-fructose corn syrup (HFCS) is a fructose-glucose liquid inducement substitute to sucrose (also known as table sugar) which was first presented to food and beverage manufacturing in the 1970s. It is not expressively diverse in structure or metabolism from other fructose-glucose sweeteners like honey, sucrose, and fruit juice concentrates. High fructose corn syrup was extensively incorporated by food formulators, and its consumption increased around the mid-1970s and mid-1990s, mainly as a spare for sucrose. This was primarily because of its sweetness similar to that of sucrose, better-quality constancy and functionality, and ease of use. High-fructose corn syrup (HFCS), also called isoglucose, is mainly a blend of two sugars, fructose and glucose. Soda and ice cream often merger 55 percent fructose and 45 percent glucose, while the HFCS used in canned fruits and condiments is generally a 42/48 percent mix (with other ingredients). White sugar is a 50/50 split. In the United State s, heavy corn supports and sugar-import barricades have made HFCS some 20 percent cheaper than sugar. The United States accounted for nearly 80 percent of global construction in 2004 and U.S. patrons accepted 58 pounds of the syrup per person last year in numerous harvests, conferring to the U.S. Department of Agriculture (USDA). Other producers include Japan, Argentina, the European Union, and China. Some claim that HFCSs global growth and the parallel rise in obesity are related. The troubled dietitians debate that, unlike glucose, which activates appetite-suppressing indications in the body, fructose does not tell its consumers to stop. The theory rests unconfirmed, but a growing body of literature has recommended the syrup may certainly respond the satiation-hormone leptin. Conflicting research, reinforced by the American Beverage Institute, claims HFCS is no dissimilar than other sweeteners and is safe in control. The food manufacturing began to substitute cane and beet sugar with HFCS after sugar prices quadrupled in the 1970s, and a few years later soft-drink businesses followed suit. The syrups affordability in the United States has aided soda businesses retail greater bottles and greatly expand ingesting of the calorie-rich drinks. You wont find it on the U.S.D.A. pyramid, but theres a food category that includes breakfast cereals, ice cream, granola bars, hot dog buns, baby food, soft drinks, yogurt, soup, ketchup and barbecue sauce. Those and countless other products found on the shelves of any grocery store are united by a common ingredient: high-fructose corn syrup. The increasing use of the sweetener over the past three decades roughly corresponds with a dramatic rise in obesity and related health problems among Americans, and some experts on nutrition say thats no coincidence. The question of whether high-fructose corn syrup presents a distinct health threat or is unfairly blamed for the effects of general overconsumption is a divisive one, spawning disagreement even among scientists with no financial stake in the answer. For decades, processed foods were usually sweetened with liquified sugar, also called sucrose. But food researchers in the 1970s found a way to modify cornstarch into a syrup with a higher level of fructose, or fruit sugar, in relation to glucose, another form of sugar. Because the corn product is cheaper, easier to use and more durable than sugar derived from cane or beets, food manufacturers quickly adopted the new ingredient. (Diet sodas and other products contain newer sugar substitutes, such as aspartame and sucralose th at carry few or no calories.) The increased use of HFCS in the United States mirrors the rapid increase in obesity. The digestion, absorption, and metabolism of fructose differ from those of glucose. Hepatic metabolism of fructose favors de novo lipogenesis. In addition, unlike glucose, fructose does not stimulate insulin secretion or enhance leptin production. Because insulin and leptin act as key afferent signals in the regulation of food intake and body weight, this suggests that dietary fructose may contribute to increased energy intake and weight gain. Furthermore, calorically sweetened beverages may enhance caloric overconsumption. Thus, the increase in consumption of HFCS has a temporal relation to the epidemic of obesity, and the overconsumption of HFCS in calorically sweetened beverages may play a role in the epidemic of obesity. The digestive and absorptive processes for glucose and fructose are different. When disaccharides such as sucrose or maltose enter the intestine, they are cleaved by disaccharides. A sodium-glucose cotransporter absorbs the glucose that is formed from cleavage of sucrose. Fructose, in contrast, is absorbed further down in the duodenum and jejunum by a non-sodium-dependent process. After absorption, glucose and fructose enter the portal circulation and either are transported to the liver, where the fructose can be taken up and converted to glucose, or pass into the general circulation. The addition of small, catalytic amounts of fructose to orally ingested glucose increases hepatic glycogen synthesis in human subjects and reduces glycemic responses in subjects with type 2 diabetes mellitus (12), which suggests the importance of fructose in modulating metabolism in the liver. However, when large amounts of fructose are ingested, they provide a relatively unregulated source of carbon pr ecursors for hepatic lipogenesis. The metabolism of fructose differs from that of glucose in several other ways as well (3). Glucose enters cells by a transport mechanism (Glut-4) that is insulin dependent in most tissues. Insulin activates the insulin receptor, which in turn increases the density of glucose transporters on the cell surface and thus facilitates the entry of glucose. Once inside the cell, glucose is phosphorylated by glucokinase to become glucose-6-phosphate, from which the intracellular metabolism of glucose begins. Intracellular enzymes can tightly control conversion of glucose-6-phosphate to the glycerol backbone of triacylglycerol’s through modulation by phosphofructokinase. In contrast with glucose, fructose enters cells via a Glut-5 transporter that does not depend on insulin. This transporter is absent from pancreatic ÃŽ ² cells and the brain, which indicates limited entry of fructose into these tissues. Glucose provides â€Å"satiety† signals to the brain that fructose cannot pro vide because it is not transported into the brain. Once inside the cell, fructose is phosphorylated to form fructose-1-phosphate (26). In this configuration, fructose is readily cleaved by aldolase to form trioses that are the backbone for phospholipid and triacyglycerol synthesis. Fructose also provides carbon atoms for synthesis of long-chain fatty acids, although in humans, the quantity of these carbon atoms is small. Thus, fructose facilitates the biochemical formation of triacylglycerols more efficiently than does glucose (3). For example, when a diet containing 17% fructose was provided to healthy men and women, the men, but not the women, showed a highly significant increase of 32% in plasma triacylglycerol concentrations (27). In the United States, HFCS is found in almost all foods containing caloric sweeteners. These include most soft drinks and fruit drinks, candied fruits and canned fruits, dairy desserts and flavored yogurts, most baked goods, many cereals, and jellies. Over 60% of the calories in apple juice, which is used as the base for many of the fruit drinks, come from fructose, and thus apple juice is another source of fructose in the diet. Lists of HFCS-containing foods can be obtained from organizations concerned with HFCS-related allergies (33). It is clear that almost all caloric sweeteners used by manufacturers of soft drinks and fruit drinks are HFCS (4, 34). In fact, about two-thirds of all HFCS consumed in the United States are in beverages. Aside from beverages, there is no definitive literature on the proportion of caloric sweeteners that is HFCS in other processed foods. HFCS is found in most processed foods; however, the exact compositions are not available from either the manufactur er or any publicly available food-composition table. What’s in the name of HFCS? Corn is high in starch, which is simply chains of glucose molecules held together. When chains are broken apart, individual glucose molecules are released and form glucose syrup. In the 1970s, scientist learned how to convert some of that glucose into fructose, and the resulting product was named high- fructose corn syrup. At the time, all other corn syrups were made of glucose. Although accurate relative to the term glucose syrup, the name high-fructose corn syrup has, over the years, been a source of confusion for consumers and scientists, alike. Commercially, various forms of HFCS are available with different percentages of fructose and glucose. The most commonly used are HFCS-42 and HFCS-55 which contain 42% and 55% fructose respectively. Thus, despite the name, HFCS is not particularly high in fructose compared to sucrose. In 1983, the FDA approved HFCS as Generally Recognized as safe (GRAS), and that decision was reaffirmed in 1996. To be included in the FDA’s GRAS list, evidence must exist that the ingredient is safe under the conditions of its intended use, and the approval process involves an extensive review of the science, including estimated dietary intake. The FDA decision to approve and subsequently reaffirm HFCS as GRAS was based in part on the substantial similarity between HFCS and table sugar. Diabetes and HFCS Research is clear that sugar do not cause diabetes. The American Association of Clinical Endocrinologists identifies the following as risk factors for diabetes: family history of diabetes, cardiovascular disease, over-weight or obese state, sedentary lifestyle, ethnicity previously identified impaired glucose tolerance or impaired fasting glucose, hypertension, increased levels of triglycerides and/or low levels of high-density lipoprotein cholesterol, history of gestational diabetes, history of delivery an infant weighing over nine pounds, polycystic ovary syndrome and psychiatric illness. Suffice it to say that diabetes is multifactorial. People who are old enough might remember that, Benefits of HFCS Compared with other sweeteners, HFCS has historically been relatively inexpensive. And while that HFCS is economical, HFCS is often the sweetener of choice because of its many positive attributes, which extend well beyond cost. HFCS sweetness and flavor profile is similar to table sugar. It also controls microbial growth more than sucrose and controls crystallization. High fructose helps retain texture in canned and baked goods. Another benefit of HFCS is that it reduces crystallization in canned, frozen and baked goods. It promotes ideal and controlled browning in baked goods and breakfast cereals. In the same way HFCS stables temperatures fluctuations and wide ranges of acidity. It blends easily with other ingredients. In the same way HFCS lowers freezing points which contribute to pourability of frozen beverage concentrates. High Fructose Conspiracy The use of high fructose corn syrup (HFCS) has increased over the past several decades in the United States while overweight and obesity rates have risen dramatically. Some scientists hypothesize that HFCS consumption has uniquely contributed to the increasing mean body mass index (BMI) of the U.S. population. The Center for Food, Nutrition, and Agriculture Policy convened an expert panel to discuss the published scientific literature examining the relationship between consumption of HFCS or soft drinks (proxy for HFCS) and weight gain. The authors conducted original analysis to address certain gaps in the literature. Evidence from ecological studies linking HFCS consumption with rising BMI rates is unreliable. Evidence from epidemiologic studies and randomized controlled trials is inconclusive. Studies analyzing the differences between HFCS and sucrose consumption and their contributions to weight gain do not exist. HFCS and sucrose have similar monosaccharide compositions and sweet ness values. The fructose: glucose (F:G) ratio in the U.S. food supply has not appreciably changed since the introduction of HFCS in the 1960s. It is unclear why HFCS would affect satiety or absorption and metabolism of fructose any differently than would sucrose. Based on the currently available evidence, the expert panel concluded that HFCS does not appear to contribute to overweight and obesity any differently than do other energy sources. Research recommendations were made to improve our understanding of the association of HFCS and weight gain. Overweight and obesity have become increasingly problematic in the United States from an individual and a population perspective. According to the body mass index (BMI) categories defined by the Centers for Disease Control and Prevention (CDC), about 65% of the U.S. adult population aged 20-74 years is currently overweight. In addition, 31% of all overweight adults are classified as obese. In 1976-80, only 47% and 15% of adults in the United States were considered overweight and obese, respectively (CDC, 2004). About 16% of American children and adolescents aged 6-19 years are also currently overweight. Two decades ago, about 6% of individuals in this age group were classified as overweight (CDC, 2004). Prior to 1976-80, such dramatic overweight and obesity rates were not observed in the United States. Overweight and obese individuals are subject to societal stigmatization and are at increased risk for deleterious health conditions, including type 2 diabetes, cardiovascular diseases, hypertension, osteoarthritis, and some cancers (CDC, 2004). Overweight and obesity increase health care costs (USDA, 2004) and mortality rates (Mokdad et al., 2004, 2005; Flegal et al., 2005). Overweight and obesity are influenced by many genetic and environmental contributors, including race/ethnicity, age, physical activity, sedentary behaviors, food consumption patterns, smoking, technological advancements, and psychological factors (CDC, 2004; Columbia Univ., 2000; Rashad and Grossman 2004). Researchers, government officials, politicians, and activist organizations are contributing significant resources in an attempt to understand and reduce the overweight and obesity epidemic in the United States. All sources of energy consumed in excess of energy needs can contribute to increased BMI and risk of overweight and obesity. However, several arguments suggest that, in addition to providing energy, high fructose corn syrup (HFCS) may contribute to the development of overweight and obesity via other mechanisms. In the United States, HFCS has increasingly replaced refined sugar (sucrose) in many foods and most sweetened beverages. Outside the United States, HFCS is not used extensively, and sucrose continues to be the primary caloric sweetener. Some evidence suggests that high consumption of fructose plays a role in the epidemics of obesity, hypertension, diabetes, and kidney disease. In the U.S., these epidemics have been paralleled by a rise in sugar consumption. High intake of free fructose (found in high-fructose corn syrup, but not in sucrose) is associated with hypertension and hyperlipidemia in animals and with dyslipidemia and insulin resistance in adults. Further, small particle size of low-density lipoprotein (LDL) is associated with obesity, the metabolic syndrome, and central adiposity in older children and adults. Investigators in Switzerland examined the relation between dietary fructose consumption and obesity, distribution of body fat, plasma lipids, and LDL particle size in a convenience sample of 74 children (age range, 6-14 years) recruited from schools and pediatric clinics; 43 children were overweight (mean BMI, 23.4), and 31 were normal weight (mean BMI, 15.9). Dietary intake was measured by two 24-hour dietary recalls and a 1-day weighed food record. LDL particle size, triglycerides, and serum cholesterol were measured after a 12-hour fast. Overweight children had significantly higher plasma triglyceride levels, lower high-density lipoprotein (HDL) levels, and smaller LDL particle size than normal-weight children. LDL particle size was associated with overall adiposity and central adiposity. The only dietary factors that correlated significantly with LDL particle size were total fructose intake and grams of fructose per 1000 kcal consumed; higher fructose consumption was inversely associated with LDL particle size, independent of adiposity. Fructose intake did not correlate with any other lipid variable. Some claim that HFCSs global expansion and the parallel increase in obesity are linked. The concerned dietitians argue that, unlike glucose, which triggers appetite-suppressing signals in the body, fructose does not tell its eaters to stop . The theory remains unproven, but a growing body of literature has suggested the syrup may indeed counteract the satiation-hormone leptin. Conflicting research, supported by the American Beverage Institute, insists HFCS is no different than other sweeteners and is safe in moderation. The latest health concern stems from a recent Environment Health study that found mercury in samples from two HFCS manufacturers. Chemicals mixed during production to stabilize pH may have contributed the toxic metal, the study said. The industry accuses the research of using scant data of questionable quality. The environmental impact of HFCS depends on how the corn is grown. Conventional farming practices use significant water resources, pesticides, and fertilizers, leading to widespread water pollution and nutrient-depleted soil. Corn production has also become a major contributor to climate change. In The Omnivores Dilemma, author Michael Pollan estimates that between one-quarter and one-third gallons (about 1.0 to 1.25 liters) of oil are needed per bushel of corn to create the pesticides, fertilizers, and tractor gasoline, and to harvest, dry, and transport the corn. The U.S. high-fructose corn syrup industry used about 490 million bushels of corn last year, according to USDA. Fructose is a sweet tasting sugar that is found naturally in fruits and some vegetables and has been part of the human dietin modest amountsfor eons. The increasing consumption of sugar has dramatically increased our exposure to fructose (1). Sugar consumption has risen more than 40-fold since the Declaration of Independence was signed 250 years ago, and more than 40% of the added sugars in our diet are in sugar-sweetened beverages and fruit drinks (2,3). Thus, the principal sources of fructose in our diet are now sugar and high-fructose corn syrup, each of which has about 50% fructose. The intake of soft drinks has risen fivefold since 1950 (4,5) (Fig. 1) and with it the intake of fructose. The rise in the consumption of high-fructose corn syrup in beverages has paralleled the rise in the prevalence of obesity and the metabolic syndrome and is associated with the appearance of nonalcoholic fatty liver disease (6-8). Although association does not prove causation, it has stimulated re search to understand whether current levels of fructose intake in beverages pose a health risk. Over the past decade fructose from either sucrose or high-fructose corn syrup has received growing attention as it has been associated with a widening group of health-related problems. Several meta-analyses have shown a relationship between the consumption of sugar-sweetened soft drinks and obesity (9-11). The relation of these beverages to obesity can be attributed to the increased caloric intake and to the fact that beverages do not suppress the intake of other foods to an appropriate degreethus beverage calories serve as add-on calories enhancing the risk of obesity (12) (Fig. 1). Meta-analyses have also suggested that the consumption of sugar-sweetened beverages is related to the risk of diabetes, the metabolic syndrome, and cardiovascular disease

Enterprise Resource Planning Research Paper Example | Topics and Well Written Essays - 2250 words

Enterprise Resource Planning - Research Paper Example When one is reactive, one probably loses an opportunity that existed and may never get the opportunity again. Being proactive means putting in place systems that will help the business to have the checks and balances of what is needed at any predetermined time (Sheilds 2001). If one has to excel, it means that one has to be ahead of the competitors because the moment your competitors are ahead of you, one simply reacts to the demands of the consumers. In order to be proactive, one has to manage all organization’s resources very effectively and efficiently. Management means being able to be in control. The aim of this paper is to outline the benefits that come with master production scheduling (MPS) and material resource planning (RPF) as a function of Enterprise resource planning (ERS). This will be done by describing the function of Enterprise resource planning and the role of master production scheduling and material resource planning (Sheilds 2001). ... Later on ERP became an integrated system that addressed all the core functions of an enterprise, with the governments and non- profit organizations employing the system (Chang, Symythe and Timbrell 2000). When ERP systems were introduced, their main focus was to automate the functions of the back office. The functions of the back office are activities that did not involve the customers directly. They are referred to as back office activities because those activities took place in the building where other people cannot see those activities going on. Such activities include manufacturing, developing products and administration. The front office functions were integrated later in the ERP system. As opposed to the back office functions, front office functions are directly related to the customer for instance customer relationship management. Master Production Schedule (MPS) A master production schedule (MPS) is a plan that a company develops so a as to plan for production, inventory and staffing. A master production schedules gives the time the product will be demanded and also gives the quantity that will be demanded. It is therefore a plan for future production. An MPS therefore contains a statement of what the firm anticipates to manufacture. For instance, it states the amount to be produced and possibly how much labor is required. It is therefore concerned with elements such as forecast demand, production cost, inventory costs, lead-time and working hours (Sheilds 2001). The MPS translates the business plan into a production plan. Its addresses the concern of demand, hence forecast demand. It helps to avoid shortages,

Professional Project - Rehearsal Studio Literature review

Professional Project - Rehearsal Studio - Literature review Example Using Space for Artistic Needs The main use of a rehearsal studio is to help to stimulate an environment and create a space for musicians and other performers. If there aren’t spaces available, then it becomes difficult to prepare for performances, recording and other alternatives that are needed to be a growing musician. In a specific study, (Fewster, Wood, 2009), there was an examination of whether musicians and artists required spaces for performance. The comparison made was to virtual environments that led to a hybrid experience with technology as well as other alternative environments which were available for rehearsing. Through this study, it was found that the change in environment also led to direct changes in the formation of music. When the rehearsal space was used through a 3D alternative or virtual collaboration space, for instance, the environment changed to create a hybrid effect. This combined higher amounts of technology with the music, as opposed to having the needed performance options. The environment with the space was able to offer a different sense of experimentation, specifically with interactions between the members that allowed for collaboration to move forward in a different alternative (Fewster, Wood, 2009). The concept of changing the environment and the mood with collaboration is important for various reasons. For those collaborating with several individuals is the ability to interact differently and to allow creativity to move into a different set of alternatives. This offers new levels of professionalism and enhances the creativity needed through the use of space. The environment is combined with the concept of using creative space. When the creativity is in the surrounding environment, it becomes easier for musicians and other artists to collaborate and work toward enhanced materials. The development of the creative space provides more opportunities to find unique aspects to a band or group while offering an outside area i n which musicians and others can perform. The important aspect to consider is based on investing in the creation of space that enhances creativity and which is conducive to the needs of artists, specifically because this changes the reactions and opportunities available through a given area (Martin, 2010). It should be noted that the ability to offer a rehearsal space isn’t only dependent on musicians with specific needs. Rehearsal space is also changing shape and form because of the emerging technologies and the need to have collaborative areas for those interested in music. The concept of body space activity is one which is now being used among musicians and other performers. However, the ability to produce these activities is also dependent on having other applications and technologies within the space. For instance, recording equipment, materials and other applications which can form specific roles can be used for creative needs. The most common alternatives which are now in the UK are based on the use of creative spaces in urban regions, which has expanded the idea of rehearsal spaces. This is one which is now inclusive of an environment for creativity as well as materials that provide physical access to those who wouldn’t have the options available in another given arena (Tandt, 2006). Socio-cultural Changes

Comparing Community in Elizabeth Bowen’s The Demon Lover and Edward Fields A Journey :: Comparison Compare Contrast Essays

The Importance of Community in Elizabeth Bowen’s The Demon Lover and Edward Fields' A Journey It is important to relate and be a part of ones community. When we are able to identify with the people around us we are able to find out who we really are and the difference we make in others lives, as well as, the difference our community makes in our lives. In Edward Fields' poem, A Journey, he relates to his community as he is leaving. It is obvious to the reader that the author feels strongly about his community from the emotions that he displays throughout the poem, the details of the town that he notices on his way to the train station and the way he feels once he gets to his final destination. In the poem A Journey, Edward Field shows great emotion toward his community as he is leaving. The person in the poem is trying not to cry as he walks to the train station and tells us "men didn't walk around crying in that town" (Field qtd. in Schwiebert 41). The man then has to repeat the alphabet over and over at the train station to keep from crying (Field qtd. in Schwiebert 41). I believe that the character in the poem relates to his community the most when he finally begins to cry on the train and feels the reality of leaving. This shows that he has taken in the complete picture of what he is leaving behind and how much it means to him. As the man in the poem continues his journey, he takes time to notice things in detail. This I believe is a way of cherishing what you might not see again. This also shows us that he cares about the community to notice the little things one last time. For example Edward Field describes the "magnolia trees with dying flowers" and the "bright spring day" (qtd. in Schwiebert 41). The man even picked up the local newspaper before he left, this shows that he cares what is going on in the town and feels enough apart of the community to find out what is in the newspaper that day. The author shows us that our communities contribute to who we are as adults through the actions of his character at the end of his journey. It seems that the man in the poem didn't really consider himself a man before he got off the train.

How can we overcome the limitations of financial statements?

Financial statements are an important source of information to multiple groups of people. These people may belong within the organization or they may be outsiders. The internal users of financial statement include managers, financial analysts, CFOs and accountants. Whereas external users may include government agencies, such as tax agencies and the securities and exchange commission, financial consultants, investors, creditors, etc. Now there are certain limitations that financial statements have, and this may cause problems in making intra and inter-company comparisons. In order to minimize or overcome the short-comings of financial statements investors, accountants, CFOs have all developed different analytical tools and techniques. For internal users, especially managers, performance measures have played a significant role in minimizing the effects of these limitations. Analysts now use tools that aid in valuing company’s performance beyond financial results, bringing factors like leadership, patents, specialized workforce, brands and human resources into the picture. Technology has removed a lot of barriers, especially with respect to finance, as companies today are also implementing financial data warehouses the use of which makes it a lot easier for organizations and individuals to make decisions that are logical and in most cases correct. Moreover, some companies are also voluntarily disclosing information about their strategy, key success factors and their management objectives in supplements to their financial statements. This gives the investors, creditors, and other external users of financial statements more of an idea of what the firm is about and where it may be standing in a couple of years from now. REFERENCE Helfert, Erich A. (2001). Financial Analysis Tools and Techniques: A Guide For Managers. McGraw-Hill. Â  

Analysis of the Greek Banking Markets - Free Essay Example

Sample details Pages: 4 Words: 1152 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The word bank is derived from the Greek word banque or the Itlian word banco both meaning a bench at which moneylenders and moneychangers used to display their coins and transact their business in the market places. A bank is a profit seeking firm dealing in money and credit. It accepts deposits and keeps it under safe custody. Don’t waste time! Our writers will create an original "Analysis of the Greek Banking Markets" essay for you Create order Commercial banks are institutions that primarily accept deposits and extend credit to serve consumer and corporate needs for capital. It creates credit by making advances out of funds received and thus mobilizes the savings in the economy. Under the Banking Regulation Act 1949, banking includes accepting deposits from the public, for the purpose of lending or investment; and repayable on demand or otherwise withdrawable by cheque, draft, order or otherwise. Banks are a kind of depository institution. They play a crucial role in channelizing the savings into the economy and thereby provide scope for the economic growth of the country. Commercial banks and savings banks hold a large share of nations money stock in the form of various types of deposits and provide for their transfer to effect the payments. They lend these funds to consumers and businesses for a full range of purposes. Types of financial assets: Deposits Stocks Debt DEPOSITS: deposits can be made either with banking or non-banking firms. In return, the lender receives a certificate in case of fixed deposits and a checking account in case of savings/ current deposit. Interest is earned on such these savings deposits. STOCKS: Financial assets in the form of stocks represent ownership of the issuing company. This right gives the holder of stocks a share in the firms profits. DEBT: Financial assets in the form of debt create a financial obligation on the borrower to repay back the amount borrowed. The debt instrument is a contract entered into by the borrower of funds with the lender of funds, to repay the amount borrowed after a predetermined period and at a certain rate of interest. If an asset serves as a collateral to the borrowing, then the holder of the debt instrument will have a priority claim on the asset. CORPORATE BANKING: Corporate banks or wholesale banks normally supply capital for business ventures and construction activities on a long term basis. the products provided by these banks to their corporate customers can be broadly classified as: Fund based credit/ commercial credit: requiring immediate outlay of cash such as term loan, working capital loan, export packing credit etc. Non-fund based credit/ fee-based services: only in the absence of fund based credit does non-fund based gets converted into non-fund based. Thus, not requiring any immediate outlay of cash. CREDIT POLICY OF BANKS: The credit policy of a bank guides the lending activities of the bank. It lays down the rules and regulations that guide the sanctioning of loans. The policy is laid down by the top management and deals with the following: Exposure levels Credit risk assessment Credit appraisal standards Documentation standards Delegation of powers Pricing Review and renewal of standards Takeover of advances Besides the above, the policy deals with credit facilities to companies whose directors are in the defaulters list of RBI. The policy also lays down the norms of major and minor deviations and the authority for sanctioning/approving them. The policy also discusses different kinds of advances such as personal loans, export credit, advances to priority sector and maturity period of the banks advances. LENDING ACTIVITY OF THE BANKS Credit is the mainstay for any financial institution particularly banks. Almost 60% of the assets side of the banks balance sheet is credit. Credit management has two facets: Credit appraisal Credit monitoring Credit management is an embodiment of the banks approach to sanctioning, managing and monitoring credit risk with the aim of making the systems and controls effective. Banks are required to monitor the loans and also ensure that the loans do not turn bad. This is done by following the principles of credit management. Basic requirements for lending: Borrowers Constitution: The requirements of the borrower will sometimes be typical depending on the constitution of the borrowers account. The types of customers who happen to be borrowers could be individuals, partnership firms, companies, governments etc. Documentation: As part of the initial exercise during post sanction phase, the bank hass to obtain the details regarding the customer so as to bind him/them legally and enforce the charge. This is possible only if the bank keeps in force the documentation for the loan granted to the customer. Without keeping the proper documents in force, banks would not be in a position to defend their claims against customers in courts of law. But with the proper documentation in force, there will not be any problem in enforcing a claim by the bank against the customer in case of any default in repayment of loan or in the wake of any other legal issues. Credit Monitoring: The post disbursal period is very important for the banker since t he health of the asset is determined during this phase. Banks are required to keep a constant watch on the unit through the loan account after sanctioning the loan in order to ensure that amount sanctioned to the unit is safe, generates income and does not turn out to be sick. This process is termed as Credit Monitoring. The Legal Remedy: In the event of breach of terms, the banker will have the same remedy which is available to any other contracting person as the terms of sanction are enumerated when the banker grants financial facility to its customer under a valid contract. Such a remedy is none other than the enforcement through a competent court of jurisdiction. Credit Information: Specialized institutions known as Credit Information Bureau(CIB) (also known as credit referencing agencies) have been set up to function as a repository of credit information- both current and historical data on existing and potential borrowers. CREDIT APPRAISAL: Credit appraisal refers to the appraisal of the creditworthiness of a prospective borrower in terms of technical, economic, managerial and financial feasibility. Credit appraisal is mainly undertaken by banks in order to ascertain the repaying capacity of the borrower with respect to the installment of loan amount as well as the interest required to be paid on it. The main purpose of carrying out credit appraisal by banks is to keep their risk exposure in check. While lending loan to a prospective borrower there is a possibility that he might default in repaying back the required amount to the bank. Thus, credit appraisal assures the bank that the borrower has the capacity to repay back the money in time. Also, on the basis of the credit appraisal carried out by the banker the bank can change the limits to be sanctioned accordingly i.e. a borrower not having a very good track record might not be sanctioned the desired limits and rather lower limits.