buy custom External Financing essay

buy custom External Financing essay External funding is a highly variable figure for the United States corporate sector. Acme can raise its funds from sources outside of the company. There are various types of external financing which the company may use. These sources include debt financing, equity financing, cash flow lending and corporate bond and debentures (Schulz Wasmeier, 2008). Megginson Smart (2000) say that external funding is extremely unpredictable in the United States because of the market trends and lending rates. The use of external financing involves high legal and transaction costs. The company should note that the outstanding nature of external funding needs of Acme means that $500M will be exceedingly variable from year to year for the company (Megginson Smart, 2000). Sources of external funding Debt Financing Acme can obtain external financing from debt financing which means borrowing money. Schulz Wasmeier (2008) says that in the course of debt financing, in return the creditor will receive the promise that the principal and interest on the debt will be repaid by the company. The interest rate to be paid by Acme characteristically includes the so called market rate of interest rate plus a risk premium because Acme is a well established company and certain will be collaterals used to secure the debt. Acme will pay its interest rate depending on the maturity of the loan and the volume of the loan. Apart from specific loan agreements such as mutual or syndicated loans, common types of debt financing that Acme can use includes overdraft funding, and loans against asset (Schulz Wasmeier, 2008). Merson (2011) noted that debt finance will allow Acme to raise cash without giving any share capital or equity. This type of external financing can balance interest payments against tax and therefore there is a good reason to expect debt finance to be relatively cheap. Merson (2011) noted that in theory debt finance has a lot in its favor. However in practice, it may not be asy to obtain. Banks lend their money in return for interest. There are several types of debt finance which include overdraft and obtaining loans against assets. Overdraft funding is uncertain for the bank and Acme. This is because an overdraft can be called in at any time, hence it is a high-risk strategy for the multinational to rely on it for longer-term financing (Merson, 2011). From Acmes point of view it will pay high interest rates to reflect the risk. Obtaining financing through loans against asset is the most common way a bank can make sure that its position is protected. This implies that if Acme goes under, the bank can lay claim to and sell the asset against which it had secured the debt (Merson, 2011) Cash Flow Lending The second type of external financing that can be used by Acme is cash flow lending. Since Acme is an established company with a good track record, the firm can take advantage of cash flow lending. Merson (2011) noted that in this type of financing, instead of taking security against specific assets, a bank relies on the cash flow that the business expects to generate (p. 124). In this context, the bank will look for safeguards in the form of guarantees based on such measures as profitability, enterprise value and ratios comparing profit with interest. If the agreements are breached, the bank has the right to recall the loan (Merson, 2011). One disadvantage of this type of financing is that the bank generally puts measures in place that allow it to take control of the companys cash flow if it defaults on loan repayments. Its advantage is that cash flow lending is more focused than asset based lending on the ability for a business to repay its debts (Merson, 2011). Corporate Bond and Debentures Acme can also obtain financing through corporate bond and debentures. Merson (2011) mentioned that a corporate bond or debenture is long-term debt instrument with a maturity date, a redemption value and a coupon. Acmes bbonds will be traded on markets. Merson (2011) noted that the markets discernment of the riskiness of the debt is mirrored in its market price, which in turn affects the real interest rate earned by the obtainer of the bond. The main disadvantage of this form of financing is that bond markets are regulated, and sourcing money in this way can be costly, and consumes more management time. Its advantage is that a corporate bond will enable Acme to access financing without the help of a bank. This might allow Acme to raise money for a lower interest rate. Merson (2011) says that this type of financing may allow Acme to put its debt out for a longer period than a bank might be prepared to countenance. The fourth type of external financing that can be used by Acme is equity financing. In the United States this is known as stock ownership. Merson (2011) says that equity financiers of Acme will not be comfortable with security but they look instead at the robustness of the offer, the quality of the prospect, the return it will generate and the companys ability to repay the investment. Through equity financing, Acme is likely to incur high cost of capital than a debt financing and will likely cause a drop in earnings per share for the company and in turn unenthusiastically impact the companys share price (Stowell, 2010). The equity financing option will strengthen the companys balance sheet and may lead to a higher bond rating from a credit financing agency. This may result in lower future bond financing costs and higher long term value for the company (Stowell, 2010). Debt financing usually has a lower cost of capital, but may weaken Acmes balance sheet and reduce financial flexibility. Acme and its banker must consider the risk adjusted cost of debt when comparing this form of financing with an equity financing. Equity financing and cash flow lending are the best options for Acme. Cash flow lending is the best option is because it is more centered than asset based lending on the capability of the company to repay its debts. Buy custom External Financing essay

PDP-Learning diary Assignment Example | Topics and Well Written Essays - 4250 words

PDP-Learning diary - Assignment Example Discussion in seminars is primarily based on individuals’ learnedness as well as oratory skills. In this paper, I have discussed how our previous learning experiences shape our tendency to gain further knowledge. People hold different views about intelligence and learning. Some believe that intelligence is a God gifted skill while others think that it is one of the skills that can be polished with hard work and attention. Although this is basically true, our previous learning experiences shape our perceptions of ourselves as learners. These perceptions primarily control our confidence and hence, the tendency to learn, though these perceptions keep evolving as we gain more experience. I used to think that I had a problem with my auditory skills when I was in the elementary school. It was not until I changed my school that I realized that the back benchers could not listen clearly in the previous school because of faulty classroom design. This realization inculcated great confidence in me, and the effort I previously exerted in hearing the lecture was now being utilized in understanding it. I felt like God has recreated my ears. This also had a significant impact on my grades that had changed for good. †¢ Block 2b: Reflection on essay feedback Recently, I have had the teacher’s comments on an essay that I had written. In this paper, I have reflected upon the teacher’s feedback.... I was taken aback with surprise. That was the loveliest day of my life. I felt so fulfilled. That trophy assured me that I had the talent to rock in the world of academia. I fundamentally attribute all my love for studies to that first trophy. I have consistently been a position holder since then. Yes, academic achievement reinforces positive attitudes in students. Block1b: Reflection on discussion in seminars Discussion in seminars is primarily based on individuals’ learnedness as well as oratory skills. In this paper, I have discussed how our previous learning experiences shape our tendency to gain further knowledge. People hold different views about intelligence and learning. Some believe that intelligence is a God gifted skill while others think that it is one of the skills that can be polished with hard work and attention. Although this is basically true, our previous learning experiences shape our perceptions of ourselves as learners. These perceptions primarily control our confidence and hence, the tendency to learn, though these perceptions keep evolving as we gain more experience. I used to think that I had a problem with my auditory skills when I was in the elementary school. It was not until I changed my school that I realized that the back benchers could not listen clearly in the previous school because of faulty classroom design. This realization inculcated great confidence in me, and the effort I previously exerted in hearing the lecture was now being utilized in understanding it. I felt like God has recreated my ears. This also had a significant impact on my grades that had changed for good. Block 2b: Reflection on essay feedback Recently, I have had the teacher’s comments on an essay that I had written. In this paper, I have reflected upon

Text analysis Essay Example | Topics and Well Written Essays - 1000 words

Text analysis - Essay Example Surprisingly extremely little effort on the portrayal of the Africans Americans in the television has been undertaken (Campbell 11). Bussing and segregation have been the early forms of racism associated with the U.S. news casting; these issues could fuel the whites to racial prejudice of the African Americans (Campbell 12). The author has written that Africans Americans were normally associated with poverty. They were over represented poor according to the content analysis of the author (Campbell 12). By this analyzation of them been poor in the news televisions, Africans Americans could also bear issues associated with poverty such as laziness and the under observation of the welfare assistance (Campbell 13). Entman did a study on this issue whereby his results showed that Africans Americans presentation occurred largely as crime victims (Campbell 14). Africans Americans were more likely to appear in crime sites and as perpetrators in drug issues on most of the local news (Campbell 14). Another observation was that the Africans Americans political interest was normally limited in the news presentation (Campbell 15). This perpetuation needed the Africans Americans to raise their voices to so as their hearing could occur (Campbell 15). The author is indicating how stereotypes, network news, and modern racism relate to one another (Campbell 16). According to this documentation, Africans Americans are typically associated with the roles such as noisy politicians, criminals and poor citizens on the news of a local network. The increase in modern racism leads to three components (Campbell 16). First is the resistance to the political demands of the African Americans, secondly is the general hostility that is portrayed emotionally towards the Africans Americans, lastly is the belief in the death of racism and that the racial discrimination no longer inhibits the achievement of the African Americans (Campbell 17). According to the author, African

Wu zholiu's orphan of asia and taiwanese students studying in japan Essay

Wu zholiu's orphan of asia and taiwanese students studying in japan - Essay Example This one is a masterpiece that Taiwanese literature shall always cherish. The Taiwanese Literature, as we know it today, developed in 1920s. The writers during that period reflected on Japan’s role as a colonizer, Wu Zhouliu does the same. The Taiwanese literature was as influenced by the culture of Japan, which was forced by Japan, as by the need to voice its identity. The Taiwanese literature was trying to break the image of Taiwan as ‘extended Japan’ while at the same time most of the works were in either Japanese or usually had element of Japanese. Wu Zhouliu, too, was much better in Japanese than in Chinese but his works were rebellious, indicating Japanese as oppressors of Taiwanese. The Taiwanese literature was a means for peaceful rebellion, after the violent methods to drive Japanese out of their land failed, and the task is successfully carried forward by Orphan of Asia. Thus, the work not just adds on to the main reason for evolution of Taiwanese literature-rebellion against their colonizer, but it also takes up the task of representing Taiwan under Japan as it was to the future generations. Taiwan was occupied by Japan from China for fifty years (1895-1945) before it was handed over to China again. As long as Taiwan was the colony of Japan, Taiwanese remained neither Japanese nor Chinese. Their identity as Taiwanese was all too obliterated. This situation of Taiwanese is well depicted in Orphan of Asia, where the protagonist-Tai-ming was confused about his identity. The writer uses the word ‘orphan’ to indicate that with no identity of its own Taiwanese were orphan, they had been separated from their mother-China, and their colonizers never accepted them as one of them. Not just were they separated from their roots (China), but also their roots never accepted them back. Tai-ming believes that his roots are in China and hence is ready to make any sacrifice for his roots but it is ironic that he shall not disclose

Sequels and phobias in The Return of the Soldier of Rebecca West :: Rebecca West

Times of war and peace: Sequels and phobias in The Return of the Soldier of Rebecca West. Rebecca West (1892-1983) was a prolific writer who tried every literary genre; journalism, literary critique, the short story and the novel. Her first novel The Return of the Soldier published in 1918 spans half a century of creative output culminated in 1966 with her last novel The Birds Fall Down. However, all her narrative is easily identifiable because of her unmistakable style, the structure of her novels, the topics she chooses and the coherence of her ideas about mankind and society. Subsequently, all her novels are psychological, historical and social documents depicting human behavior in a precise historical and social context. West synthesizes what she observes rooting her ideas in British literary tradition. Her keen critical eye is both penetrating and enlightening, for example, when in The Return of the Soldier, Margaret Grey appears poorly dressed daring to invade the Baldry mansion with her mud covered boots, while Jenny, the narrator, expresses crude feelings of resentment towards Margaret and her social group. The latter is represented: ‘... as the rich hate the poor, as insect things that will struggle out of the crannies which are their decent home, and introduce ugliness to the light of day’ (West, 1918, rpt.1984: 32)1. West’s literary reputation was revived in the 1980s with the disintegration of Yugoslavia. Her Black Lamb and Grey Falcon; A Journey through Yugoslavia (1941) brought her wide critical attention because this novel was the last of her efforts to understand the pre-war situation. Furthermore, it was central to West’s next book, The Meaning of Treason (1947), where she concentrated on the psychological characteristics of traitors and she wondered what caused these people to do what they did—for West, war fosters deception and betrayal. The final example of West’s interest in treason is her novel The Birds Fall Down (1966) which concludes with the deaths of both the traitor and the friend he betrayed and in The Return of the Soldier, a study of the sequels of war in human mind, the protagonist is betrayed by his family. In the aforementioned novel, West employs what at the time was an original device, amnesia from war trauma or ‘shell shock’ as well as an unusual perspective on war—that of those who waited at home. West tries to explore the reactions of three women to a returning soldier who, though married, remembers only an earlier love for another woman. In spite of its obvious literary quality, The Return of the Soldier proved to be a novel severely punished by critics.

Heart Failure Essay

Heart Failure The heart is one of the body’s most vital organ. The heart pumps blood throughout the body which carries nutrients other organs need. It also carries oxygenated blood to the lungs which allows us to breathe. Since the heart is so important, relying on it that it will do its job is necessary so we can live, but sometimes the heart can fail. Heart failure is a syndrome that occurs when the heart can not pump enough blood to meet the body’s metabolic needs. This paper will discuss what heart failure is, the signs and symptoms, and lastly the treatment and prevention of heart failure. Heart failure is usually classified according to the side of the heart that is affected. Either â€Å" left or right side, or by the cardiac cycle involved† (Lippincott Wilkins & Williams, 2011). Left sided heart failure occurs when there is ineffective function of the left ventricular contractile. As the pumping of the left ventricle fails, cardiac output also fails. The blood that is suppose to go to the body is no longer being pumped out, thus backing up into the left atrium and the the lungs, causing â€Å"pulmonary congestion, dyspnea, and activity intolerance† ( Lippincott Wilkins & Williams, 2011). Right sided heart failure results from ineffective right ventricular contractile function. Blood is not being pumped effectively through the right ventricle to the lungs, causing blood to back up into the right atrium and the peripheral circulation. When this happens, the patient gains weight and develops peripheral edema and engorgement of the kidney and other organs. Heart failure not only effects the heart but also other systems in the body. The cardiovascular system is affected by the heart not being able to pump blood throughout the body. Also, as the blood backs up into the left atrium, blood backs up into the lungs causing pulmonary congestion which affects the respiratory system. When blood backs up into  the right atrium, the kidneys become engorged which cause problems with the renal system. There are different signs and symptoms for heart failure. People with heart failure can develop shortness of breath, also called dyspnea, caused when the blood is backed up in the pulmonary veins. The patient will feel breathlessness during activity or while sleeping. Another sign and symptom is persistent coughing or wheezing, caused when fluid is being backed up in the lungs. The patient will cough up pink or blood stained mucus. Another sign and symptom is build up of excess fluid in body tissues, also called edema, and is caused when blood flow out of the heart slows down, the blood returning to the heart through the veins backs up, causing fluid to build up in the tissues. Patient can also develop swelling in the feet, ankles, legs or abdomen, or weight gain. A patient with heart failure may also feel tired and develop fatigue caused by the heart not pumping enough to meet the body’s needs. They also might develop digestive problems causing loss of appetite and nausea. Th is is a result of the digestive system not receiving enough blood causing digestive problems. ( Chen, 2013) If a patient has been diagnosed with heart failure there are some treatments that are involved to keep the syndrome under control. The patient will have medical therapy that involves medications such as an angiotensin- covering enzyme, diuretics to reduce fluid volume overload and venous return, beta- adrenergic blockers to prevent remodeling, any many others. A patient may also have to undergo surgery such as cardiac bypass. There are many life style changes that the patient also has to comply with. Some include weight loss, limited alcohol intake, smoking cessation, stress reduction, and development of an exercise program. If the case is severe, the patient might have to have a heart transplant, but even so, many complications and a hospitalizations are experienced. In order to porevent heart failure there are two ways to approach it. First is to stop or slow heart failure, and second is to avoid a repeat of any event detrimental to the patient’s life. (Shaddinger, 2014) Heart failure is a very serious disease. It should never be be taken lightly and although the most common cause of heart failure is coronary artery disease. It can also occur in infants and children with heart defects. References Chen, M. (2013) Hear Failure Overview. The New York Times. Retrieved from www.nytimes.com/health/guides/disease/heart-failure/overview.html Lippincott Williams & Wilkins, (2011) Pressure ulcers. Professional Guide to Pathophysiology. 3rd ed. p. 575-579. Philadelphia. Wolters Kluwer. Shaddinger, D. (2014) Treatment and Prevention. Seconds Count. Retrieved from www.scai.org/secondscount/treatment/default.aspx

The Athena Scholarship Will Bring Me Closer to My Goals

It is an honor to apply for the Athena Scholarship. I am presently enrolled in the Biology/Biotechnology Honors program in the University of Windsor. I hope to become a medical doctor. I strongly believe that my career of choice will enable e to fulfill my desire to help others. My participation in various extracurricular activities and invaluable volunteer experience has constantly shaped the way I view people and the environment around me. My academic life is no exception; my mantra in any learning situation I find myself is to strive for academic excellence and push boundaries. Next to God and my family, my education has always been the most important thing in my life. Early on in life, my dad instilled in me the importance of have a well-rounded education. He rang in my ears and that of my brother how lucky we were to go to school and how every learning situation should be maximized. Growing up from a poor family, he understood the importance of a good education more than we ever could. By the time I was in elementary school I realized that I had a knack for the sciences and also discovered something that would change me for a very long time. I realized that babies didn’t come from the sky but through the mom’s belly. It was the most amazing thing I ever learned in all of my childhood years. This was when I unconsciously made a decision to study biology and to understand all of life’s â€Å"magic†. Over the years, my love and respect for biology never weathered and I made up