The Monetary Policy of the Reserve Bank of Australia

This paper looks into the Reserve Bank of Australia in terms of the bank setting the cash rates with accordance to several factors with regards to the decision made by the RBA in April 2012. In the case where the RBA lowered the interest rates by 25 basis points, Australian banks are expected to reduce their interest rates by a similar margin.Advertising We will write a custom report sample on The Monetary Policy of the Reserve Bank of Australia specifically for you for only $16.05 $11/page Learn More This paper investigates and explains the reasons as to why the commercial banks did not match their interest rates with accordance to the cash rate set by the RBA. On the other hand the reason as top why the treasurer believes that the banks ought to pass rate cuts on to the public is broadly discussed. When studying the Australian RBA in terms of it determining cash rates, it is vital to also look into other regions and determine their cash rates. This pap er has thoroughly looked into the economic markets as well as interest rates of banks in Europe, India as well as China. The Reserve Bank of Australia (RBA) which is Australia’s central bank, has the role of formulation and implementation of the monetary policy as well as carrying out its operations with the aim of maintaining a sturdy fiscal system and it also carries out the duty of issuing the country’s currency. Not only is the Reserve bank of Australia the sole issuer of the country’s banknotes, it is also in charge of managing the country’s foreign and gold reserves as well as acting as a banker to the Australian government. The RBA has the duty of setting the target cash rate. The official cash rate is the interest rate that is normally paid by banks in Australia in an all night money market. The cash rate can only be affected by transfers that may have occurred between the Reserve Bank of Australia and the other banks. By raising and lowering the cash rate, the RBA has tried to influence the Australia economy with the intention of keeping some economic parameters in a constricted range. In November 2011, the RBA undertook the action of cutting official interest rates by 25 basis points. The Reserve Bank of Australia takes into consideration a variety of factors before it raises or lowers the cash rate this is vital since any change in the cash rate impacts several aspects in the Australian economy. In April 2012, the RBA board opted not to change the cash rate and hence left it at 4.25 per cent (Reserve Bank of Australia, 2011).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The RBA takes into account the monetary policy since it has a major influence on the housing market. In the housing market sector, the house prices are first looked into so as to determine whether the cash rate should be adjusted because the house prices have a probable impact on future inflation. The house market plays a significant role in the economic growth of the country as well as in the general welfare of its citizens. It is therefore necessary for the RBA to consider house marketing as a determinant in determining the cash rates since any change/surge in the house prices, a ripple effect occurs through an increase or decrease in the rate of inflation. Since the housing prices in Australia gave away some indications of gaining stability and the housing market remaining soft, the RBA decided to leave the cash rate as it previously was. The rate of inflation in Australia is a key determinant in cash rate determination by the RBA. This is evident since a negative change in the inflation rate would force the RBA to adjust the cash rate in a bid to counter this occurrence and maintain economic growth. The monetary policy stance in Australia fixed an inflation target and the tool that would be used to achieve this objective was the cash rate since a change in the cash rate would influence the inflation rate. The RBA left the cash rate unchanged since they expected a fall in inflation rate in the forthcoming quarter or two and an inflation rate of 2-3 per cent was anticipated. General economic growth as well as the lending rates aids the RBA in determining the cash rate. As for the case of Australia, there is an expectation that the growth will be close to trend while the lending rates are near the average mark hence no change for the cash rate was deemed fit by the RBA (Bindseil Ulrich 2004, 87). The four big banks in Australia despite reporting ever growing profits; have been blamed for not passing on the Reserve Bank’s cuts. Australian banks are being pressurized by the government, consumer associations and other relevant parties to reduce their lending rates in response to the RBA’s interest rate cuts. However, they have given many reasons as to justify their position: Long term credit such as mo rtgages as funded by long term debts while short term credit is funded by the money market. Banks claim that the interest rate cuts only affects the short term credit since they cannot borrow short term funds to fund long term lending as this would expose them to greater risks.Advertising We will write a custom report sample on The Monetary Policy of the Reserve Bank of Australia specifically for you for only $16.05 $11/page Learn More Thus, they cannot match the RBA’s interest rate cuts. Due to the risks exposed by funding long term debts wholly with short term credit, banks have to branch out their lending sources. Bankers argue that almost half their cash comes from domestic deposits, a quarter from domestic bonds and the other from the international markets. Since there is inadequate savings to fund all the loans, banks have to get the deficit from out of the country and therefore present themselves to the international market conditions. Alt hough the Reserve Bank may have some control on the local short term money market rates, definitely they have no control over the international market (Whitesell William 2006, 1180). Banks claim that they are being squeezed by offshore capital markets as they are paying more money on international markets while at the same time moving further towards a domestic funding base. Banks fear that bad debts accruing in the future could increase given that lending rates are relative to the default of the loans. Thus, their reluctance to respond to RBA’s cuts could be an indication that they are pricing in more risks on their loans. Banks argue that with inflation expected to remain for some time, economic growth in the long run trend and unemployment generally sturdy, thus it is not necessary to maintain interest rates slightly restrictive. Lending rates are about 30% points over their long-term averages and cuts in the RBA cash rate would take them back to around those averages. Re serve Bank anticipates that the inflation to range between 2-3% marks in the next one to two years before it can turn down again. Thus, as expected, banks could even increase borrowing rates quick enough to safeguard their profits. The banks also claim that the high borrowing costs are eating into their margins and they also want to rebuild their margins after the financial crisis.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Banks have cited increased operating costs and could even impose almost double rate hikes after the RBA lifted rates. However, banks like the Westpac, Australia and New Zealand Banking Group, and Commonwealth Bank have at least responded to the RBA’s move slashing their variable loan rates by 25 basis points (Reserve Bank of Australia 2008). The RBA treasurer, Wayne Swan, believes that major banks should cut their rates in full to match the central bank’s move, so as to tame the spiraling inflation and to support the suppressed local economic growth (Ellis 2002, 31; Obstfeld Alan 2009, 46). The treasurer cautioned the banks not to use the European debt crisis as a pretext of not passing the cuts fully to the customers. He argues that banks should help in easing the financial pressures in Australia. I concur that banks should pass on fully the interest rate cuts. Going by the Prudential Regulation Authority report that indicates that an additional $12.3B has been put i nto bank deposits since 2011, banks are in a position to push on the savings fully as this comes at a time when international economic uncertainty is still looming with more savers seeking protection. Going by figures, bank deposits in the Commonwealth Bank went higher up by 2.6 percent, National Bank deposits up 1.1 percent and Westpac deposits up 1.2 percent, while ANZ maintained its deposits. The total increase in deposits of 0.9 percent is well over the growth in lending of 0.6 percent. The fact that banks are unwilling to respond to the RBA interest rate cuts suggests that the RBA cash rate is losing ground in its significance as a cause driving the cost of being a bank (Grenville 1997, 103). Europe The global lenders are one after the other pulling their money out of Europe and consequently the borrowing costs in Europe are on the rise quick and so are cash lending rates. Since the second big challenge with the Euro train wreck is that European’s banks have Euro debts c oming out of their ears. Britain’s banks have taken off their lending risk to peripheral euro zone counterpart by a quarter as concerns have expanded about the worsening crises in Europe. The Financial Times has reported that the big 4 Britain banks have reduced cash loan amounts by more than 24% to  £10.5B in the three months to the end of September 2011, showing a quick increase in anxiety among lenders across the euro zone. The biggest cuts were in the volume of credits to banks in Greece and Spain (Boge Wilson 2011, 47). HSBC, the main lender of credit to other banks in Europe, also reduced its exposure more drastically with a 40% total reduction in cash lending to Europe, for instance it cancelled lending to Greek banks, and sliced Spanish and Irish amounts by almost two thirds. The bond markets have closed for longer term bank borrowing, the reduction in cash lending rates will put in to worries of a credit crisis as banks fight back to retain present loan obligation s, let alone furnish new ones. This added to the decline of cash lending rates and regulatory weight on banks to increase capital reserves has forced banks to caution of a worse credit crisis in Europe (Fabbro Hack 2011, 40). China As witnessed in other parts of the world, the big banks in China have gradually been depositing excess funds with the reserve bank and reducing their cash rates as they try to cover market risks. At the time of the beginning of the economic meltdown in 2008, cash lending came to an end as there was mistrust among the banks. The market for cash rate in China yuan is international. Many banks in Europe, US and in other countries have some yuan-denominated assets and obligations and hence have to occasionally borrow and lend in yuans. The People’s Bank of China has allowed trading in the yuan against the sterling in its cash rate market in spot, forward and swaps deals. Sterling will be allowed to move within each day 3 percent trading mark, to match the trading ranges presently accepted for the euro, yen and Hong Kong dollar. India In India cash rate lending is hampered even after the reserve bank is putting actions to improve the Indian market’s liquidity. The Reserve Bank of India in addition raised the cash reserve ratio (a volume of deposits that banks should keep with the reserve bank) by 1.5% points, from 0.5% point cuts, a decision that was projected to boost 600B rupees ($12.2 billion) into the bank system (DeLong 2001). Conclusion The Reserve Bank of Australia indeed serves an important role of setting the cash rate hence it may raise or lower the basis points and this factor is determined by a couple of factors such as the housing market, the inflation rate as well as the economic growth of the country. In event, once the basis points have either been raised or lowered by the RBA, the consequential result is for the commercial banks to take the initiative to either lower or raise their interest rates with rega rds to the cash rate. In this case, the banks did not match the interest rate cuts and this is due to several reasons such as the fact that if they cut their long term lending rates they will endure high criticism to increase them again in case of further disruptions in the international credit market. References Bindseil, L Ulrich, H 2004, Monetary Policy Implementation, Theory – Past and Present, Oxford University Press, Oxford. Boge, M Wilson, I 2011, The Domestic Market for Short-term Debt Securities. RBA Bulletin, pp. 39–48. DeLong, B 2001, Preliminary Thoughts on India’s Economic Growth, , http://www.j-bradford-delong.net/TotW/India.html. Ellis, L 2002, ‘Interest Rates and the Transmission Mechanism of Monetary Policy: Theory and Australian Experience’, Economic Research, pp. 25-93. Fabbro, D Hack, M 2011, ‘The Effects of Funding Costs and Risk on Banks’ Lending Rates’, RBA Bulletin, pp. 35–41. Grenville, S 1997, The Evolution of Monetary Policy: From Money Targets to Inflation Targets, John Wiley, New York. Obstfeld, G Alan, T 2009, Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008, Sage, CA. RBA (Reserve Bank of Australia) 2011, Submission to the Inquiry into Access for Small and Medium Business to Finance, https://www.rba.gov.au/. Reserve Bank of Australia 2008, Measures to Enhance the Functioning of Financial Markets, https://www.rba.gov.au/media-releases/2008/mr-08-15.html. Whitesell, R William, G 2006, ‘Interest rate corridors and reserves’, Journal of Monetary Economics, vol. 53(6), pp. 1177-1195. Appendices This report on The Monetary Policy of the Reserve Bank of Australia was written and submitted by user Lady Deathstrike to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Issue of Illegal Immigration

The Issue of Illegal Immigration The trend of immigration into the United States continues to raise debates concerning the positive and negative effects of the phenomenon. Proponents of immigration cite numerous economic benefits such the increase in tax collection, availability of a large pool of cheap labor, and enhanced circulation of money within the economy.Advertising We will write a custom essay sample on The Issue of Illegal Immigration specifically for you for only $16.05 $11/page Learn More On the other hand, opponents of immigration depict immigrants as a menace to the American people as it promotes the rise in criminal activities and causes an economic and social burden to taxpayers. I think the negative opinion towards immigration is justified since it affects key institutions such as schools, health care, national labor market, and the law enforcement and criminal-justice system. Various considerations promote the opposition on immigration, especially due to the large number o f illegal immigrants who enter America. First, Immigration contributes to an increase in the population of America. This increase occurs sporadically, and thus the national budgetary allocations in America do not account for this increase. In this regard, immigration causes financial strain on various aspects of government planning. The government has to divert some funds into addressing the unanticipated issue of immigration. In addition, immigration causes strain on various amenities such as schools and health care facilities. Furthermore, since most immigrants enter the country illegally they do not participate in crucial obligations such as the payment of tax. Thus, they use various social services without contributing to their sustenance. Secondly, most immigrants lack professional skills that could facilitate their accommodation in most of the sectors within the American economy. Although a portion of immigrants, especially the legal immigrants, possesses sufficient education and training, the largest percentage of immigrants comes to America solely on the notion that it is a country with opportunities for all people. The lack of professional skills leaves immigrants with a few opportunities other than picking odd jobs to survive. The meager income in this regard leads to frustration and increases the tendency towards criminal acts as a source of additional income. In this consideration, immigrants lead to an additional burden on law enforcers and the criminal-justice system. Increased prosecution costs and the maintenance of prisons are major considerations in this regard. Furthermore, unskilled immigrants provide a large pool of cheap labor, especially in the manufacturing sector, and thus affect sectors of the national labor market that require minimal formal education. Apart from lowering skill rates in America, they hinder the adoption of technological systems in labor-intensive manufacturing processes. This introduces technical costs in the economy .Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The other consideration on immigration is its effects on housing facilities, especially among the low-income American families. The issue of housing is critical to America’s low-income earners who have to adopt stringent measures in order to cope with rising costs for housing. Another point is that immigration creates loopholes in border-movement control systems. As such, it provides criminals with an opportunity to conduct illegal transactions. Drugs and firearm cartels exploit the lenient laws on immigration to smuggle their products into America. These vices pose adverse social and economic effects on the American population. Various drawbacks associated with immigration emanate from the lack of appropriate immigration-control measures. Without the proper regulations on immigration, the trend of the rising number of both legal and illegal immigrants will continue to rise. Appropriate regulations should seek to minimize the number of illegal immigrants and while ensuring the full absorption of legal immigrants into the American system.

Personal Ethics Essay Example | Topics and Well Written Essays - 1500 words

Personal Ethics - Essay Example It should also be noted that what a society may consider morally upright might not apply to other societies. This means that personal morality may vary from one society to another. In addition, an individual may go against the society ethical norms and embrace different values depending on his or her conscience and judgment (Howard & Korver, 2008). My personal code of ethics is developed from ethical relativism, which points out that what a society believes in will influence the other person either positively or negatively. In this case, individuals in most cases are influenced by society to make choices for themselves, which in the end may assist in shaping their personal ethical values. The developmental theory coming into play is the learning theory. According to this model, learning ethics values and behaviors takes place through the process of reinforcement and association. Human ethics are shaped by ones society and they define how one is going to apply them in real life situat ions. During my childhood, my society used to frown on me when I engaged in dishonest activities and so through positive reinforcement, honesty became one of my ethical values. My society shaped me positively by enabling me to learn virtue ethics (Howard & Kover,2008). The Ethical system that shapes my codes of ethics is the ethics of virtue. Basing on ethical relativism where the society shapes ones behaviors and ethical standards either positively or negatively, my society instilled virtues ethics in me as I value doing what is right basing on values that are upheld by virtue ethics. The main values that ethics of virtue has promoted include integrity, humility, honesty, respect, being responsible, trust, being principled and trust. Most of these virtues are engrained in almost every society and they form the basis of morality in the world. Upholding positive values that are promoted by ethics of virtue enhance positive human interaction, promote fairness and justice, and enabled one to appreciate and respect the society and other people. In addition, virtue is essential in minimizing perceived immoralities such as crime, child prostitution, war and other social evils. As a woman, upholding my virtuous codes of ethics has been instrumental in my positive behaviors especially when dealing with my family members, children and the society in general. As a woman, my caring, gentle and good behaviors can be attributed to the virtues that I uphold and the social norms that I was subjected to by my society (Kowalski,2012). When applying the ethical codes, I have faced a number of dilemmas, some of which threatened the basic tenets of my beliefs and moral behaviors. One of dilemma is how to handle a situation that requires sound judgment such as a criminal case involving murder. This situation requires fairness and justice without pity or mercy but according to my codes of ethics, humility and mercy are some of the major values that dictate my codes of ethics. I alw ays manage this dilemma by applying the value of principle where I make my decision basing on what I feel is right for a given situation without being dictated by other ethical values that the society may have instilled in me. Further, in solving ethical dilemmas, I consider the environment of a given situation before making any judgment. For example, if a problem occurs between family members, I use the value of

The Great Gatsby Essay Example | Topics and Well Written Essays - 1250 words - 4

The Great Gatsby - Essay Example He has moved from the Midwest, where his family is wealthy and prominent, to become a bond salesman in New York. He is the quintessential lone representative of a bucolic bourgeois patriarchy, â€Å"making his name† in an urban area. This is not to say that Nick is alone on West Egg- his second cousin, Daisy, lives nearby with her overbearing, snobbish husband, Tom. Tom, who went to Yale and has all the trappings of class, displays a vulgar sort of vacuity that is actually rather disturbing. Nick visits the couple and assays in his laid-back narrative the tense and precarious situation of the household: the hulking Tom is immersed in half-baked racist theories, and Daisy seems to float around in an ephemeral haze of blasà © affectation which briefly disperses to reveal a still center of affected innocence. Nick meets Jordan Baker, a sophisticated and attractive golf champion who is visiting the Buchanan household, and the two begin what evolves into a casual romance. There is nothing obsessive about their offhanded relationship. farm where ashes grow like wheat into ridges and hills and grotesque gardens† (Fitzgerald 27). Though many critics posit that Myrtle Wilson is a positive, down-to-earth character just because of the colors of her clothing, one could also believe that Fitzgerald intends to characterize her in terms of her class. Counterpoised against the monied world of the Buchanans and the distantly wry, self-deprecating objectivity of Carraway’s detached affluence, Myrtle seems to be a rather simplified representative of a middle-class agog with the glamour of the wealthy elite. This behavior is irritating to Tom, who in a fit of rage behaves awfully and betrays his base nature, breaking Myrtle’s Nose when she presses the issue of Daisy’s cognizance. The pathetic, servile figure of George, Myrtle’s Daisy to visit him (Nick) while Gatsby â€Å"stops by.† After the two are finally together, the complicated

Public Administration and Democratic Governance Essay

Public Administration and Democratic Governance - Essay Example Traditionally public administration has been the forte of orthodox public administrators. They believed in monopolistic policy making and forced enforcement of these policies. With "Change" occurring at rapid phase democratic governance in public administration is inevitable to provide responsive and effective service to citizens. Citizen awareness has been another driving force enabling changes in functioning of the public administration. Citizens are more demanding, ask for more out of less and have raised the bar for public administrators from just governance to good governance. This notion has moved the responsibilities of public servants from service providers to the ones responsible for greater public good and minority upliftment. The three branches of governance - Legislative, Executive and Judiciary are no more seen as separate entities, instead, their packaged service accessibility is one of the other major responsibilities of a public administrator. The drivers mentioned above lay the stepping stone for "New Public Administration" (NPM). This initiative has become a synonym for public administration's effort towards democratic governance aiming to achieve greater economic and social development. The self governance process introduced by NPM is driven by innovation at all levels intending to face the turbulent dissatisfaction environment. Decentraliza

Sources Of Finances Available To A Business Finance Essay

Sources Of Finances Available To A Business Finance Essay Starting and running a successful business in the current world is not easy. Due to the rising costs and falling value of stocks, consumers have been left little money to spend. This has led many investors to sell their stock at a loss or just to break even. One way of maintaining a profitable business is constantly injecting some capital into it. Below we identify the major sources of finance available to a business. Bank Overdraft This refers to a short-term credit facility that is provided to a business by the bank. It is one of the most common that a business can use to raise some to receive extra. A bank overdraft permits an account holder to withdraw more the amount of money they have in their bank account. The overdraft attracts interests on the amount overdrawn (Shaw 2011). Loan Business loans can be classified as either long term, medium or short term. Although loans are regarded as costly way of raising extra capital, it is ideal for long-term business projects such as development and expansion. Grants As a source of finance, grants are offered to businesses for services or programs that profit the local community. Grants are offered by large private firms and government agencies. Retained Profits A business can plough back some of its undistributed profits back into the business. Retained profits are the amount of money held by a business to provide financial back-up in times of need. This is acknowledged as the most ideal way of raising extra capital in business as there is no interest or extra charges incurred. Working Capital Working capital refers to the sum of money that a business has set aside meant for financing the day to day activities. Working capital is also ideal as a source of addition capital since no cost is incurred (Shaw 2011). LO1 1.2 Implications of finance as a resource The main sources of finance are credit unions, banks as well as private investors. Funds from other income streams such as rented properties and money from stock are also credible sources of cash to finance a business. Each source of finance is associated with a set of implications such as the amount that is paid as interest on a bank loan, penalties for late payments as well as other infractions set in the contract between the borrower and the lender. Although the implications might be more or less the same as those of regular banks, credit unions may however set their interest rates at a lower figure. Private Investors: The use of private investors as a way of financing a business will attract a legal agreement that is bidding to both the seller and the buyer. Although the agreement maybe at times verbal, the implication of avoiding a written legal contract between the two parties involved might be severe and one party may fail to honor their obligations. Good private investors are know not lend money to business people until they performed due diligence on the businesses (Ralph 2005). Sources of finance from dividends, sale of stock or rented properties is practical and more lucrative. However, these kind of financial sources have been associated with a number of implications. For instance, stock prices may fall drastically leaving the investor with huge losses. The solution to finding the right sources of finance is to look at the benefits and drawbacks, and come-up with the best fit for a given business loan, investment prospect and other financial needs. LO1 1.3 Appropriate sources of Finance There are so many sources of finance that a business can choose from and it therefore up to the business owner to select the most appropriate way to finance business projects. To fund that important business project, a business may seek a loan from bank as well as any other financial institution with lending services. Another appropriate method of raising the necessary finance is by requesting for a bank overdraft. Another method that has become quite popular is raising finances through venture capital. Investment specialists and merchant banks might be willing to finance fast-growing and promising business project. Venture capital is a composition of chare and loan capital. Lucrative business projects may qualify for funding and assistance through grants offered by the government and other non-governmental organizations. For instance, low interest loans and grants may be offered to business that establishes their operations in the rural areas. One of the viable ways of financing ong oing and expensive business ventures is by leasing expensive equipment. This helps the business to save a lot of money. Lastly, businesses may raise finance through trade credit. This is a short term source of finance that makes it possible for business to purchase items on credit and pay later (Incstaf 2010).   LO2 2.1 costs of different sources of finance The cost associated with loans (debt financing) is interest while the cost of investments (equity financing is share of the profits or dividends. Comparing the costs for different sources of finance may involve the analysis and calculation of cost of capital. This may involve comparing the interest charges on a loan with the businesses with the total percentage of accumulated profits or retained earnings that belong to the investor. Business owners seeking loans from a number of banks should compare the payments terms and interest rates being offered. Even very little variations in the interest rate can tote up to considerable amounts over a long period of time. Unsecured Short-term loans, for example lines of credit, usually have a high rate of interest as compared to long-term secured loans such as mortgages. The fact trade credits and bank overdrafts attract high interest rates make them to be too costly (Higham 2004). The interest rate is normally dependent on the risk as well as the credit rating score of the borrower. If a business need financing for a fixed period of time mostly less than a year, it could be more suitable for the business to borrow from friends and family or set up a short term loan from a bank. As an additional cost to the business, banks may require security or collateral for the loan being secured as insurance against loan defaults. LO2 2.2 importance of financial planning Financial Planning is the practice of determining the amount of capital needed as well as the competition of the capital. The process of financial planning involves creating policies, objectives, procedures, budgets and programs concerning the financial activity in concern. Financial planning ensures the adequate and effective financial and investment policies. Some of the importances are as outlined; Financial planning guarantee the adequate utilization of funds Financial Planning assists in maintaining a reasonable stability between the inflow and outflow In addition, Financial Planning guarantees that the suppliers of funds are effortlessly investing in businesses that observe financial planning. It has also been attributed in facilitating expansion and growth programmes which assists in the long-run survival of the business. Financial Planning decreases uncertainties with respect to shifting market trends by eliminating these hindrances, financial planning helps in maintaining profitability and stability in a business (Higgins 2011). LO2 2.3: Information needs of different decision makers There are various parties keen on the information of a business. These parties can be classified as either internal or external depending on how interested they are in the business and the influence they have on the organization. They also need different forms of information and based on their requirements. Owners/ Shareholders These are internal parties of the organization and they need information for sound decision making when it comes to productivity of the firm, income belonging to shareholders, asset base of the company (net worth or payable), as well as the availability of assets (cash) for future development. Employees These are also internal parties whose purpose of acquiring information on the organization is totally different from that of its proprietors. Workers are mostly worried about their wages and other remunerations from the job and the permanence of the company for the safety of their employment. Their main areas of interest are the organizations economic information, productivity of the business and any future development plans (Suthaharan 2010). Lenders Financial institutions like banks and lenders also have a keen interest on the financial reports of the company, especially if the company wants to borrow funds for expansion or for settling operational costs. Banks are interested in gearing ratio of the organization (a form of ratio involving the loan capital and equity capital). Profitability of the firm: liquidity ratio, interest covers (capacity to offset interest charges if the loans are acquired); fixed assets foundation to obtain the information regarding the securities obtainable for the loan etc are all necessary to financial institutions. Government/ Regulatory institutions The government is interested in how much profit the company is making and if it is paying the correct tax charges for their income. The government also checks for other forms of applicable tax charges; compliance with the managerial bodies systems (bookkeeping principles, Colombo stock exchange requirements etc (Suthaharan 2010). General Public/ customers The general public is interested in knowing the operation of the firm and the stability of the employment. LO2 2.4: Impact of finance on the financial statements Presently, companies frequently smother monetary statement like the balance sheet, statement of cash flows and the income statement. Once the financial statements have been released at the end of a financial year, they may have huge impacts on the investors and other stakeholders. Hence, it is up to the company to make sure that all the information the financial statement is correct. Impact on Stock Price the stock of a company can be greatly impacted by financial statements. In making their investment decisions, several investors use financial statements to establish the viability of investing in certain stocks. The upward and downward movements of stock prices are dependent on the information presented in the statements (Stansky 2010). Financing Decisions financial statements are likely to affect the likelihood of accompany to acquire funding. If a business is attempting to take out a production loan, the lender will routinely scrutinize the financial statements of that company. Lenders are more likely to invest in businesses that have good financial statements. LO3 3.1 Analyze budgets and make appropriate decisions Once a business becomes operational, it is important tightly manage and plan its financial performance. One of the most effective methods of keeping the finances of a business on track is by creating a budgeting process. Managing, monitoring and creating a budget are important in guaranteeing the success of the business. The budget should help the business owner in allocating resources where they are required, so that the business remains successful as well as profitable. The budget process should be simple and should take into consideration what will be earned and spent in the business. Start-up businesses may run their businesses in a tranquil way and may not even require a budget. on the other hand, if a business is planning to grow and expand into the future, budgeting is one of the most effective way of managing funds and new stream of cash flows thus allowing the business owner to invest in fresh opportunities at the right time. A budget is an important planning tool that helps business in making appropriate decisions relating control of finances (Wendy 2006). LO3 3.2 calculations of unit costs and making pricing decisions A Unit cost refers to the actual cost of delivering a single unit of a product or service. The calculation of unit costs is done with the intention of providing a basis of comparing the costs of different providers of goods and services. It can be used in identifying trends that might signal variations in productivity, resources as well as the quality of services. Unit costs may be termed as the benchmark for measuring performance (Damodaran 2011). By understanding how to establish Unit costs, a business can be able to promote effective use of funds. It can provide information that can be used to improve services. The use of unit costs can help in identifying economies of scale, assist in establishing fee policies, strengthening future applications as well as informing on the contracting processes, identify economies of scale, help to establish fee policies, and strengthen future grant applications. Making pricing decision can sometimes be a tricky and hard decision. For instance, if goods and services are priced too low, the business might not be able to cover all the expenses and if highly priced, the business might not realize any sales at all. LO3 3.3 viability of a project using investment appraisal techniques In nature, different Investment opportunities and projects vary considerably. Hence, project appraisal techniques were designed to assist business managers and investors make good decisions and choose the most viable projects. The real meaning of all investment appraisals is the evaluation of the value of proposals which need financial and economic commitment of resources, by taking into consideration the costs and benefits. For any business, making bad investment decisions can end in loss of opportunities to net new investors, limited future growth and poor financial and economic performance or the disappointment of shareholders. Investment appraisal intervenes at the stage where a business plan is transformed into its corresponding financial plan and the choice to finance its execution (Hassan 2008). LO4 4.1 main financial statements In a company, there are three major financial statements namely; the balance sheet-which is a report of a companys assets, liabilities and stockholders equity as at a given time. Then there is the income statement which simply is a record of a companys revenues and expenses during a certain financial period. The last major financial statement is the cash flow statement (commonly known as the statement of cash flows). This statement provides information on the changes that have occurred a companys cash and cash equivalents during the similar period income statement (Leigh 2012). LO4 4.2 formats of financial statements for different types of business The income statement of a manufacturing business is different from that of a retail store. In this income statement (manufacturing), the first line is occupied by gross income followed by the subtraction of goods manufactured. This results to gross income. The second portion of the income statement records all expenses that are linked administrative, general and selling costs. This is again subtracted from gross income to disclose operating income (Steiner 2012). For smaller businesses and companies, the business may maintain very simple balance sheet but for large companies, the balance sheet is broken down into current assets and liabilities and long-term assets and liabilities. Several businesses use the accrual basis of accounting. This implies that they will identify income received from a sale after the sale has been completed and not essentially when the cash is received. LO4 4.3 financial statements and Ratio A ratio is an expression of a relationship between two or more quantitative variables. On the other hand, financial ratios show the interrelationships between different elements in the financial statements. The analysis of financial ratios involves determining a standardized connection between figures showing up in the financial statements as well as using those relationships known as ratios to evaluate the business financial performance and position. A number of techniques have to be used in ensuring that financial statements of different businesses have been simplified and made compatible. Such method may incorporate the use of great tools for example common sized financial statements and ration analysis. Financial ratios fall in one of the four classes, namely; liquidity (current ration, quick ration), profitability (return on assets, return on equity), investor (Earning per share) and long-term or risk (asset turnover, asset receivable turnover ratio) (Loth 2011).

Marketing - The Pet Food Market Essay -- Business Management Studies

1. Describe the nature of the ‘exchange process’ which marketing facilitates in up to 100 words. The ‘exchange process’ is seen as the basic principle of marketing and involves the simple concept of needs and demands. In the world of marketing this can be any organization offering a product, service or even an idea. The customer then agrees to pay an amount of money for these goods. The whole exchange process works under the important condition that both parties value the goods offered by the other party to that extent that they are willing to fulfil the demands of the other party in return. The satisfaction gained from a transaction can lead to further purchases. 2. Explain how the pet food market is structured. Describe how a number of local outlets support this structure. The pet food market is structured into three main sectors, which consists of Dog food, Cat food and other pet food. The market share of Dog food (50%) and Cat food (47%) is nearly the same, whereas other pet foods only contributes to 3 % of the total market of  £ 1,684 million (Key Note Ltd 2003). Furthermore Pet food can be categorized generally according to their functions, which are: - Complete food: Provides all vitamins and minerals needed - Complementary food: To be combined with other foods, for example meat or biscuits - Snack, treat or training aid Within the Dog and Cat Food sectors a further segmentation can be found: The moist and semi-moist se... Marketing - The Pet Food Market Essay -- Business Management Studies 1. Describe the nature of the ‘exchange process’ which marketing facilitates in up to 100 words. The ‘exchange process’ is seen as the basic principle of marketing and involves the simple concept of needs and demands. In the world of marketing this can be any organization offering a product, service or even an idea. The customer then agrees to pay an amount of money for these goods. The whole exchange process works under the important condition that both parties value the goods offered by the other party to that extent that they are willing to fulfil the demands of the other party in return. The satisfaction gained from a transaction can lead to further purchases. 2. Explain how the pet food market is structured. Describe how a number of local outlets support this structure. The pet food market is structured into three main sectors, which consists of Dog food, Cat food and other pet food. The market share of Dog food (50%) and Cat food (47%) is nearly the same, whereas other pet foods only contributes to 3 % of the total market of  £ 1,684 million (Key Note Ltd 2003). Furthermore Pet food can be categorized generally according to their functions, which are: - Complete food: Provides all vitamins and minerals needed - Complementary food: To be combined with other foods, for example meat or biscuits - Snack, treat or training aid Within the Dog and Cat Food sectors a further segmentation can be found: The moist and semi-moist se...

Romanticism and Neoclassical

ROMANTICISM AND NEO-CLASSICAL Romanticism a word that makes one think that it is a piece of art that shows love, a man and a woman. But it is not quite that, romanticism can mean freedom, rebellion, it could symbol intuition, emotion, the individual, and truth. It refers to art work that states feelings, moods, and dominates. An individual expression of experiences which cannot and could not be evaluated or assessed in purely rational or materialistic terms. Romanticism was one of the most unique ism that would most certainly be remembered most.Romanticism started during the time of Neo-Classicism, many disliked the view that Neo-Classicism and so they began a new style. Romanticism valued human emotions, instincts, over rational, rule based approach to questions of value and meaning in the arts, society, and politics. Romanticism can be charactized by formal stylization; the compositional is simplification, and a preference for graphic techniques and expanses of color. Another thing that also inspired the art movement was the attitude towards the landscape.However romanticism wasn’t accepted until 1830. The intention for Romanticism was to create a new world to enter the wreckage of the old; the time for innovation, experiment, new social systems and Utopias, new concepts and morality. A romantic was one who had broken loose from the rigid controls of the past and felt free to move ahead. Romantic artists explored specific values of individuality which Neo-Classicism ignored; the values of intuition, instinct, and even the more in accessible aspects of feelings which reach and exceed the boundaries beyond of reason.There were four non art history facts that were either influenced or affected the art movement were; the American and French Revolutions, the restoration between the Greeks and Turks, and the Age of the Enlightenment. The Enlightenment had a negative effect on the romantics; they attacked the Church. The two artists that are quite interesting to learn about from this period are Eugene Delacroix and Theodore Gericault. They might not be Michelangelo or Paul Klee or any other big shot artist but they are still artists, artists that have done beautiful work and some most incredible art pieces.Eugene Delacroix, born on April 26, 1791, in the month of the Taurus, in Paris suburb called Charenton-Saint-Maurice. He was presumed to be premature, but some expect that his real father was Charles Maurice de Talleyrand, instead of Charles-Francois Delacroix. However Delacroix turned a blind ear to them for he believed that Charles-Francois was his true father. He showed an exceptional talent for music, for the cathedral; who had been a friend of Mozart, Delacroix learnt how to play the piano, violin, and the guitar.He was only nine or ten when according to his friend critic Theophite Silvestre, when he went to Louvre. When he was seven his father died, his mother packed up everything and took Delacroix and Henriette and left to liv e in Paris. His two older brothers were away at war. He was taught by Pierre-Narcisse Guerin and also by Theodore Gericault at Lycee Louis-le-Grand. However he was not on good terms with Theodore; who was seven years his senior to Eugene. Eugene had turned a deaf ear to Gericault’s injunction from the first time he meet him. He felt an instinctive affinity to Theodore’s ideas.It wasn’t until 10 years later after they met that Gericault died at age 32. His art piece Bark of Dante was debt to Theodore Gericault; who he met. Everywhere in his art one can see in the exploitation of the dramatic potential in the waterscape, or in the use of diagonals to convey the sense of struggle and movement in the form of the figures. The bold emphasis on their musculature is incredible. However the theme is and was a thoroughly respectable one. It was free of anything that might rile official dom. After it had been exhibited at the Salon, the French government paid 2,000 francs for it.In his later years he became called â€Å"a volcanic crater artistically concealed behind bouquets of flowers† or even sometimes called The Great Romantic. He could be a lover of women and a work fanatic, an adept at social trivia and a man of wider ranging erudition not only mastery of esthetics but an impressive grasp of music, theater, and literature. His first foreign journey was to England, where he learnt how to ride on horses, which would come in handy for the Moroccan desert. Where he went mostly for politic reasons and not only was it for art it was also to escape the civilization of Paris.He produced over 100 sketches and paintings of the people, their costumes or just the landscape. He demonically turned out more than 850 paintings, thousands of sketches, watercolors, and drawings of art. In his lifetime he produced more than 20 works that were inspired by Shakespeare. He continued to make art till he died; for he was trying to reconcile opposites to see art as a whole. For part of Eugene’s genius laid in his capacity to learn from others. He died in 1863 in Paris, France. One of his artwork titled Orphan Girl at Cemetery which was worked and finished between 1823-1824.Delacroix used oil on canvas with this art. It shows a girl with hair pilled on her head and she is looking to sky. In the background you can just see the church and some crosses. There is a sense of sadness and loneliness in her eyes and her look. Theodore Gericault was born in 1791 into a bourgeois family in Rouen. Gericault moved to Paris as a boy. He has been fascinated by all aspects of equestrian such as races, jumping and riding schools. He was also overwhelmingly attracted by the clashes between individuals; he investigated their various forms in journeys which in England led him to observe the human deluxe.Theodore was educated in the tradition of English sporting art by the Carle Vernet, and even by Pierre-Narcisse Guerin, who disliked his temperament bu t saw a talent in him. He then left and learnt at the Louvre for six years when he realized that he preferred the vitality over the prevailing school of Neo-Classicism. He exhibited his Wounded Cuirassier at the Salon in 1814 and also his first major work The Charging Chasseur at the Salon in 1812. Gericault was a merry, gregarious man whose tastes as a bon vivant did not preclude a deep-seated sympathy for the under dog.He went to Florence, Rome, and Naples in 1816-1817, mostly to escape a romantic entanglement with his aunt. Gericault became fascinated by Michelangelo; which helped inspire his art piece the Race of the Barberi Horses. After he went back to France in 1821 he painted a series of portraits of his friend Dr. Etienne-Jean Georget’s patients; each containing a different diagnosis. Theodore drew his subjects from the crudest parts of reality; he visited slaughter houses, morgues, asylums, delving into the morbid events reported in newspapers, observing the devasta ting corporeal strength of animals.Some of his artworks consist of horses, lions, and tigers. Gericault was also one of the first artist to take up the newly invented process of lithography, producing a serveing of 13 pickes illustrating the life of the English poor. He was in the process of painting new artworks, when his health stroked a final note. Theodore was always riding for his among his passions was horses. He owned them, painted them, and even tamed them. His fatal illness grew on to a riding trip which injured his spine and caused him to waste. He died after a slow period of suffering, in Paris 1834 at the age of 3Art History: Neoclassicism: (1750 – 1830) The term Neoclassicism refers to the classical revival in European art, architecture, and interior design that lasted from the mid-eighteenth to the early nineteenth century. This period gave rebirth to the art of ancient Rome and Greece and the Renaissance as an opposition to the ostentatious Baroque and Rococo a rt that preceded the movement. Although the movement spread throughout Western Europe, France and England were the countries that used the style most frequently in their arts and architecture, using the classical elements to express ideas of nationalism, courage, and sacrifice.The movement was inspired by the discovery of ancient Italian artifacts at the ruins of Herculaneum and Pompeii. Also influential in the development was the cultural studies of German art historian Johann J. Winckelmann who claimed that the most important elements of classical art were â€Å"noble simplicity and calm grandeur. † Neoclassicism emphasized rationality and the resurgence of tradition. Neoclassical artists incorporated classical styles and subjects, including columns, pediments, friezes, and other ornamental schemes in their work.They were inspired by the work of Homer and Plutarch and John Flaxmann’s illustrations for the Illiad and Odyssey. Other classic models included Virgil, Raph ael, and Poussin among others. Neoclassical painters took extra care to depict the costumes, settings, and details of classical subject matter with as much accuracy as possible. Much of the subject matter was derived from classical history and mythology. The movement emphasized line quality over color, light, and atmosphere. The height of Neoclassicism was displayed in the paintings of Jacques-Louis David and Jean Auguste Dominique Ingres.

confusion economics essays

confusion economics essays The Chinese Economy, Culture The social values and history have shaped and formed the economical developments and the current environment of business in the People's Republic of China. They have determined the patterns for negotiation and the Chinese perceptions of business, and their feelings towards westerners. The implicit and explicit rules that the Chinese society has on the development of businesses, and the economy in general, are very important issues for any person going into China to understand and consider. In order to achieve a successful partnership between Chinese and Western cultures it is essential to have a basic understanding of history and cultural developments that have shaped the current environment of business. The three pillars of China are economy, culture, and society. The Chinese economy has been formed as a result of centuries of history and development, which reflect the philosophy of China and its current economical position. China started as a mainly agricultural based society with the subsistence group; the family. For more than 2000 years the Chinese economy operated under a type of feudal system; land was concentrated in the hands of a relatively small group of landowners whose income depended on rents from their peasant tenants. Agricultural taxes levied by the imperial government and crop yields subject to drought and floods kept agriculture relatively underdeveloped and organized in small units with the use of primitive methods for basic subsistence. The conclusion of the Opium War of 1840 formally initiated a period of Western penetration of China from the coastal treaty ports. Railroads and highways were constructed, and some industrial development began. Such activity had little impact, however, on the overall Chinese economy. In effect, China was carved up into a number of competing colonial spheres of influence. Japan, which tried to attach China to its East Asia prosperity...

“the Apple-Tree” by John Galsworthy Essays

â€Å"the Apple-Tree† by John Galsworthy Essays â€Å"the Apple-Tree† by John Galsworthy Paper â€Å"the Apple-Tree† by John Galsworthy Paper The extract under consideration is a piece of a third person narration. However, it is not just a matter-of-fact account of events. You can find not a few pieces of description throughout the story. Thereby the finely wrought delineation of the characters and scenery is gained. Also there are quite a lot of dialogues in the story which are important in revealing a person’s inner state and overall atmosphere. On the whole, the prevailing tone of the extract appears to be rather romantic and elevated. This effect is caused by the description of the two friends Frank Ashurst and Robert Garton. The former is an idealistic and romantic young man full of absence. And the latter stands in contrast to his friend, being too practical. The author depicts him in a rather amusing way which can’t but evoke a smile on the reader’s face which adds to the gay atmosphere. Yet there is a suggestive symbol – a cuckoo which is a kind of warning of imminent tragedy. The author uses such stylistic device as foreshadowing. He drops a clue about what is to come in the story, which builds tension throughout the book. Thus the plot development is suggested by the word â€Å"pity†. It appears all of a sudden in the very first utterance and is very eloquent as well as its second repetition in Megan’s speech. All that creates a dramatic sense, In sum the plot of the story centres around two friends Frank Ashurst and Robert Garton who are on a tramp. They are on a rest and are about to set off and find some farm to put p but suddenly they see a girl coming down to them. The fiends ask her to put them up and she agrees to lead them to the farm she lives at. There they meet her aunt, she allows the young man to stay for the night and they go to a stream to bathe. The story proves to be very symbolic. The two friends are on a trip. Apart from its literal meaning it represents the life’s journey. Frank and Robert are at the beginning of it, what is to come in store for the men? Let’s take a closer look at them. Ashurst is romantic and idealistic young man. The scene in which the action takes place reveals his inner state as the author uses somewhat high-flown style in depicting it: â€Å"he had plucked a blue foweret, and was twiddling it against the sky†. As if opposed to his friend, Robert is matter-of-fact and barren of imagination. There is a remarkable peculiarity about the way Garton’s appearance and actions are depicted. I mean metaphors and similes of which the author is lavish. They are sharp and facetious and can’t but evoke an ironic smile, for example: â€Å"Garton queer, round-the-corner, knotted, curly, like some primeval beast†, â€Å"Gartons was a kind of dark unfathomed mop†, â€Å"Robert was talking through his hat! † As to Megan, her portrayal is very laconic. She doesn’t appear to be beautiful but her eyes are wonderful. Their delineation is symbolic – they are the reflection of her soul dewy as if opened for the first time that day. And girl looks at Ashurst without shyness in an open manner, she is inartificial and naive. Megan feels pity for Ashurst because of his knee, and her attention pleases him. Once again this feeling is recurrent in the story and it definitely has symbolic significance. It creates the mood of the approaching disaster. And Megan’s aunt seems to forebode it. The author portrays her by several sharp strokes. Mrs. Narracombe had a quick, dark eye, like a mother wild-ducks, and something of the same snaky turn about her neck. † She appears to be very strict and acute woman and distrusts the strangers but finally Ashurst gains her confidence by a jesting remark. As the extract ends we find the two friends at the stream. Frank is sitting under the apple-tree waiting for Robert. And this is another symbol used by the author – the apple-tree – so expressive and meaningful that it becomes the title of the story. Now it is in leaf, and all but in flower – its crimson buds just bursting. It stands for the feeling which is about to burst between Ashurst and Megan in a little while. What is in store for them? Frank doesn’t think about it, his feelings and meditations are ambiguous and idle and he feels absurdly happy. We can only guess what is to happen with them but for the time being â€Å"every bough is swinging in the wind, every spring bird calling, and a slanting sunlight dapples the grass†. The story afforded great pleasure to me, I enjoyed every minute of it. I give the author his due for brilliance of style. The foundation of Galsworthys talent lies in a remarkable power of ironic insight combined with an extremely keen and faithful eye for all the phenomena on the surface of the life he observes. Galsworthys realism lies in his capacity for making his hero part and parcel of his surroundings and convincing the reader of his typicality: he is a fine artist in reproducing the individual workings of his characters mind.

Short Story Fiction paper Essay Example | Topics and Well Written Essays - 1000 words

Short Story Fiction paper - Essay Example â€Å"The Necklace† relates Mathilde’s attitude towards life and her struggle to face the consequences of her actions. The character of Madame Loisel, and its appeal to the reader, undergoes dramatic change as the story progresses. The reader is scornful of the shallow protagonist who makes her appearance at the start of the story. As the narration progresses, Madame Loisel undergoes a transformation and the reader empathizes with Madame Loisel and her struggle. â€Å"The Necklace,† is a poignant tale of human folly. It is also a tale of transformation and human redemption. Madame Loisel is a dissatisfied woman whose social pretension leads to disaster, but she redeems herself to emerge as a woman of genuine character and strength. At the beginning of the narrative, Mathilde Loisel is a dissatisfied housewife. She is constantly aware of â€Å"The contrast between her charm, her innate good taste, her beauty on the one hand, and the mediocrity of her life as the wife of a government employee, on the other† (Donaldson-Evans, 167). She feels that she is destined for better things and bitterly resents her position. Madame Loisel foolishly disdains what she has and hankers after what might have been. She spends hours dreaming of â€Å"every delicacy and every luxury† (Maupassant, 3) which her modest means cannot afford. She contrasts every aspect of her present life with the luxury that could have been hers under more fortunate circumstances: her poor furniture with exotic tapestries and glowing lamps, her humble maid with grand footmen and her simple meals with rich feasts eaten on silver platters. Madame Loisel is obsessed with the tantalizing dreams of wealth. She does not appreciate the fact that Loisel loves her and that her â€Å"hapless husband is forever bending over backward to please† her (Donaldson-Evans, 168). Loisel gets tickets to the party with great difficulty and is â€Å"disconsolate† with his wifeâ €™s tears over the lack of an appropriate dress. He sacrifices his own dreams of buying a hunting piece in order to furnish her with a new dress. Although she is married to a man who cherishes her in every way possible, she remains wrapped up in her dissatisfaction:  Ã¢â‚¬Å"And she wept all day long, from chagrin, from regret, from despair, and from distress† (Maupassant, 6). Her days are filled with sorrow. She does not derive any pleasure from life. She rejects the reality of her existence to imagine another filled with the trappings of a superior social position. Madame Loisel’s yearning for social recognition and wealth leads to her downfall. The ruling passion of her life is â€Å"to please, to be envied, to be seductive and sought after† (Maupassant, 5). She is so obsessed with the outer trappings of social position (jewelry and dresses) that â€Å"she loved nothing else; she felt herself made for that only (Maupassant, 5). When her husband secures t ickets to the prestigious party, she does not appreciate his concern but throws the invitation at his face. Although she is aware that their straitened financial circumstances do not warrant the purchase of a new dress, she rails against Loisel and â€Å"her indignation leads to irritability and depression† (Donaldson-Evans, 167). Once this hurdle is overcome, she desires jewelry. Rejecting the alternative of fresh flowers, she borrows the necklace from her friend. She is so enraptured with the jewelry that â€Å"

Early-Age Marriage in Ethiopia Essay Example | Topics and Well Written Essays - 1500 words

Early-Age Marriage in Ethiopia - Essay Example In this particular research, I want to look into the cultural differences that spell the differences on how different societies view, and react to, early-age marriages or unions. In the Americas, I have come to believe that early-age unions, if ever they occur, are generally viewed, or judged, as a result of lack of parental guidance. Ironically, according to research, in Ethiopia, early-age marriages are planned by parents for many different reasons, but mostly to have a little â€Å"relief† from continuous poverty. My aim in this research is to try to look at the different reasons and effects of early-age marriages to present them to readers in order to not only learn on the Ethiopian culture, but also to gain an insight into how important this aspect is in a person's life. Should people see how the freedom that young people have in a nation whose civil rights movement is at its highest is sometimes taken for granted because they are not placed in an opposite position, they might place more importance on matters that other people of their age would give everything to have. Background Should people, especially in underdeveloped communities where access to health care is inadequate, delay the age of marriage, problems on the physical, emotional, and mental well-being of these young girls will be lessened. Early-age marriage is a common occurrence in developing countries. One example of this is Ethiopia, where â€Å"62% of Ethiopian women aged 20-49 get married before the age of 18,† (Alemu 4) and most, if not all, of these are arranged by the parents of the couple. Furthermore, Ethiopia is ranked as having 12th largest occurrences of early marriages according to the International Center for Research on Women. In such marriages, these young girls are usually just forced to give in to their parents’ wishes for marriage. Permission of the bride is usually not sought, and even prior knowledge or consultation is usually not given. Because of thi s, the child-bride's physical, emotional, and mental well-being are placed under risk of damage that could sometimes be irreparable. Physical problems such as domestic violence, spousal rape, or complications during child-bearing and giving birth can cause severe damage to the child-bride (Gossaye et al. 2). Additionally, emotional issues such as depression, trauma, and even mental distress are evident in a big percentage of these marriages (Gossaye et al. 2). Furthermore, mental problems can also be observed in such marriages. For one, these child-brides are rarely able to go back to school after marriage. This deprives them of self-development and chances for growth. Self-fulfillment becomes rare for these females. Physical Problems in Early-Age Marriages I have not really immersed in a community where early-age marriages abound. However, there are certain multi-cultural communities in rural settings where these types of marriages or unions can be seen. I have observed that while domestic issues are present in every marriage, such issues are more emphasized if one of the spouses is very young. For one, I have always been against domestic violence. There is a general consensus that aside from the children, women are almost always the victims in domestic violence. If adult woman has problems in preventing it from happening to her, how much more can a child-bride prevent it from happening