Thursday, December 26, 2019

Foreign Fighters The Islamic State Of Iraq - 1551 Words

Foreign fighters have been a staple of the modern wars in Afghanistan and Iraq. An interesting aspect of these foreign fighters in these conflicts is the amount of Westerners taking part in the insurgencies. The latest chapter in the war in Iraq is the Islamic State of Iraq and Syria, which has become notorious in recent months for its brutality and its military successes. A recent Wall Street Journal article reports that over 28,000 individuals from eighty six countries have come to Iraq and Syria to fight for the Islamic State . Who are these Westerners who forsake a life of relative comfort and freedom for the rigors and danger of jihad? There are certain indicators in behavior of those who join the ranks of foreign fighters. While by no means a profile in any sense, the indicators observed by foreign fighters studied in this paper will provide policy makers and law enforcement with an idea of who could be likely to join foreign fighters abroad. Western foreign fighters ar e a major security concern for Western governments as they return home . The training and indoctrination they receive abroad makes reintegration into Western society difficult if not impossible. While every individual is different, all foreign fighters have observable behaviors prior to joining Islamic extremist movements. Learning how Westerners become radicalized is crucial to depriving groups like Al Qaeda and ISIS with valuable manpower. In order to understand the people who would joinShow MoreRelatedInformative Essay : Islamic State Of Iraq And Levant1131 Words   |  5 PagesInformative Essay on Islamic State Introduction Islamic state of Iraq and Levant (ISIL) also rendered as Islamic state of Iraq and Syria (ISIS), also known as the Arabic phrase Da’esh and self-described as Islamic State was formed in April 2003 but was established in 2006, growing out of al- Qaeda in Iraq. It has since been abjured by al- Qaeda. Isis has a treasury of 2 billion making it the richest terrorist organization also it has become one of the main jihadist groups fighting government forcesRead MoreWhat Is The Potential Of The Islamic State Attacks?767 Words   |  4 PagesWith the increase of Islamic State-affiliated attacks by radicalized â€Å"Lone Wolf† actors and dedicated Islamic State fighters, it is necessary to consider the potential for similar attacks in the United States. The November 2015, coordinated attack in Paris, France, and the January 2015, shooting in the Charlie Hebdo offices in Paris, demonstrated the Islamic States ability to coordinate complex attacks in physical locations however, the true measure of the Islamic States potential lies in its abilityRead MoreThe World s Biggest Terrorist Group1195 Words   |  5 Pagescreated in Iraq and is now slowly growing too many other countries in the world. This group is now one the biggest problems that the world faces today. Isis stands for Islamic state in Iraq and Syria. Members of Isis were first a part of al-Qaeda, then in 2013 became its own group. This paper will answer: How was Isis formed, and why is it the way it is today? â€Å"Under its former name Islamic State in Iraq and the Levant (Isis), it was formed in April 2013, growing out of al-Qaeda in Iraq (AQI). TheRead MoreIs The Threat Of International Security?1141 Words   |  5 Pagesvillages and cities. ISIS sees itself as the Islamic Caliphate and controls lots of land in western Iraq and eastern Syria. They also pledge allegiance from different radical Islamic groups around the world. ISIS started from U.S. invasion of Iraq in 2003. Saddam Hussein fighters were left without a job, and they were furious. Al Qaeda chose to capitalize on their anger and established al Qaeda in Iraq, to wage an insurgency against U.S. troops in Iraq (Saddam was secular, but his intelligence andRead MoreThe Management Of Islamic State Under The Caliphate Rules And Dogma1599 Words   |  7 Pageswith network of different objectives. The ISIL end state in â€Å"golden ring† is the establishment of Islamic State under the Caliphate rules and dogma. The key ob jectives are to be able to control and defense the territory, with possibility to influence, recruit and indoctrinate the young Muslim foreign fighters from the â€Å"golden ring†. In same time to marginalized the â€Å"silver ring† and challenge the security and stability in the region around Syria, Iraq and North Africa. Finally, to spread the fear andRead MoreThe Threat Of The Terror Group Isis1727 Words   |  7 PagesIn December of 2011, the United States withdrew all remaining combat troops from Iraq. After eight years of war, the United States turned the responsibility for the defense of Iraq over to the Iraqi security forces. Iraq immediately saw the rise of sectarian violence among Sunnis and Shia. This nation also saw the reemergence of the insurgency known as Al Qaeda in Iraq in the northwest portion of the country. The problems in Iraq grew with the igniting of a civil war in the neighboring nationRead MoreCultural Conflict Between Sunni And Shiite Fa ctions2143 Words   |  9 Pagesinclusive to cultural conflict in modern day Iraq between Sunni and Shiite Factions as well as the emerging threat of ISIS (Islamic State of Iraq and Syria). This analysis will show how ISIS is utilizing ongoing cultural strife between predominately Sunni (Western Iraq; Al-Anbar Province), Shiite (Eastern Iraq, and Kurdish (Northern Iraq; Mosul) to further destabilize certain regions and attempt to gain influence over segments of the population. Iraq s borders, which were originally defined by BritishRead MoreIsis Is A Terrorist Organization Made Up Of Shi1745 Words   |  7 Pagesan independent Islamic state in the Middle East. These terrorists go to any extent of violence in hopes of connecting the holy lands throughout Middle Eastern countries. Isis members are fighting for religious purposes hoping to secure land where the Muslim religion would dominate. Isis brings danger throughout the world with its political history, the military tactics it employs, and its attraction to foreign members. Isis originated as a group who fought against U.S. forces in Iraq, and later SyriaRead MoreIsis Essay884 Words   |  4 Pages The United States Policy in Responding to the Islamic State of Iraq and Syria (ISIS). 1. Policy Decision and Objectives: On September 19, 2017 remarks by President Trump to the 72nd Session of the United Nations General Assembly- â€Å"We must deny terrorists safe haven, transit, funding, and any form of support for their vile and sinister ideology. The Senate armed service committee on June 13, 2017 made a deliberation on how to dismantle violent extremist organizations such as ISIS and other Al QaidaRead MoreIslamic State Of Iraq And The Levant Red Cell Analysis1685 Words   |  7 PagesIslamic State of Iraq and the Levant Red Cell Analysis The Islamic State of Iraq and the Levant has single handedly furthered the evolution of terrorism. This is a new type of terrorism that is not easily defined or visible. The Islamic States new form of terrorism has developed social unrest across the world and has undoubtedly inspired a new generation of extreme Islamic sympathizers to join the their cause and fight to accomplish their agenda of cultural cleansing. In order to repel the Islamic

Wednesday, December 18, 2019

My Memories A Favorite Memory - 880 Words

An individual’s childhood memory has impacted them in some way whether it be emotionally or physically. From one memory to another, good or bad, develops the entity of a person’s personality or logic. I considered one of my worst memories a favorite memory because, from that experience, I gained development as an individual. The start of that development occurred on vacation without my parents attending. Like any other child, I became very enthusiastic of the whole idea of freedom and self-guidance. After the majority of the trip, I became uninterested with self-guidance and I wanted to rely on the adults to plan fun-filled activities. I was very disappointed with the fact that their lack of authority and action lead to an uneventful vacation. I began to miss my parents’ guidance because with every request or action they took it was in all the best interest of me. Whether it was to hold my hand across the road or watch the things I eat, all of it was inte nded for my growth and safety. It was then that I realized how much my parents really cared for me and it made me grow to respect their wishes even more. Concisely what began as a getaway from my parents resulted in a realization of how much I should appreciate and respect them. Getaway Gone Wrong The Realization of Parents’ Love It is evident that youthful memories are not coincidental: social gatherings, sports games, school outings, and perhaps a special occasion impacts the personality of aShow MoreRelatedMy Favorite Memories As A Kid1180 Words   |  5 PagesChildhood memory One of my favorite memories as a kid was the time me my sister and the twin neighbors decided that today was a good day to swim. It was probably late april or early may, the pool had been sitting out since last summer and the water had turned green. I of course had to go test out the water, as I was taking my shoes and socks off I went to take a closer look at the water when suddenly my younger sister jumped straight in. She got up and started to cry because the water was full ofRead MorePersonal Narrative : My Favorite Memories805 Words   |  4 PagesThroughout my years in school, I would watch in awe as my teachers stood in front of the class with a sense of confidence and ease. The older I became, the more I realized how much educators did in order to make sure that the students in their classrooms succeeded. Even when I was not at school, I sometimes got an inside perspective of the life of an educator from my aunt, who is a first grade teacher. I would hear all about the less ons that she planned and some of the experiences that she has hadRead MoreMy Favorite Political Memory : Barack Obama Essay1245 Words   |  5 PagesMy favorite political memory was in October of 2008 because Senator Barack Obama came to Springfield and held a campaign rally. I went to the rally with my aunt and uncle and I was extremely excited despite the fact that it was held at a stadium and it was freezing outside. I sat very close to the stage and I was fortunate enough to meet Senator Obama and shake his hand after his speech was over. This was my favorite political memory because I met the future president and hearing his speech in personRead MoreMy Favorite Science Memories From Elementary School1486 Words   |  6 Pageswhen we were learning about the planets; we made a mobile representing all of the planets and had an acronym to remember them in order. Another one of my favorite science memories from elementary school was when we learned about the water cycle. We learne d a song to go along with it. I still remember the song and will never forget the water cycle. My elementary school had a science lab that each class visited once a week. We did experiments like making ice cream (which we were not allowed to eat) andRead MoreCommunication with Various Groups Paper1184 Words   |  5 Pagesregarding his favorite childhood memory. The child I interview what name Mikey. He is a seven-year-old male who is in the second grade. When asked what his favorite childhood memory was he replied, I don’t know, so I told him to think about it for a little bit, and then I will come back and ask some questions about it. When I went back to question about fifteen mins later, he then said, â€Å"I would have to say my favorite time ever was when me, my mom, my sister, my brother and my stepdad allRead MoreCommunication with Various Groups Paper1073 Words   |  5 Pagestheir bodies and/or gestures. In this paper I will talk about a child’s memory and a senior’s memory about their favorite childhood memory. In speaking to my daughter about her childhood memory I noticed how excited she looked as she was explaining this memory; as if she was living in the moment at the time of our conversation/interview. Though the memory didn’t seem as exciting to me as it did to her, her favorite memory was taking a trip to Disney Land when she was 6 years old. With excitementRead MoreMy Love For Reading853 Words   |  4 PagesAt this point in my life, reading would definitely not make a list of my favorite things to do, but this wasn’t always the case. Some of my youngest memories involve reading, and many of these memories are enjoyable. Every night before bed my mom would read to me, and I remember begging to read just one more before she tucked me in almost every night. This is when my love for reading sparked. Throughout grade school, I continued to read frequently and never found it to be a chore; however, once middleRead MoreWhat Is My Favorite Day Of My Life?790 Words   |   4 Pagestradition in my family that has been going on for my whole life is Sunday morning hikes with my father, sister, and our dogs. The place where we go varies from week to week, however, there is one spot in particular that will always be my favorite. The trail we hike is called â€Å"The Trail of Death† because of its difficulty, however the views and landscapes are some of the most beautiful sights I have ever seen. Tucked away in the Pocono mountains, this trail came to be one of my favorite places to goRead MoreHow Music Changed My Life1141 Words   |  5 PagesMusic Changed My Life One of my earliest memories from my childhood involves music. I was only five or six and me and my brother would be coming home from pre-school and daycare. My mom would ask us what we wanted to listen to and we would both yell back â€Å"Our CD!† My mother would laugh and proceed to play a Beethoven CD she kept in the center console of the car. This memory has stuck with me since I was a kid. It has played a major role in my development and was the beginning of my growing passionRead MoreEssay on A Hazy Memory from Childhood1084 Words   |  5 PagesRecalling a favorite childhood place is not an easy endeavor for a person of my temperament. Through a hazy memory instances and occurrences come fleeting through my mind like clouds floating across a colored sky. I can recall happy memories, and sad ones. Both are there, only their shapes differ; clouds too offer up different shapes. My problem lies in the actual choosing of a place that I can call favorite. Many different pla ces come to mind, but each one has to be ruled out, for always some glitch

Tuesday, December 10, 2019

Historical Cost Versus Fair Value Accounting

Question: Discuss about the Historical Cost Versus Fair Value Accounting. Answer: Introduction The selection between the fair value and historical cost accounting turned out to be increasingly debated concern within the accounting literature. Additionally, the standard structure for international financial reporting (after IASB framework) along with AASB framework cannot decide a particular base of measurement to consider the major aspects considering IASB framework based financial reports (Christensen et al. 2013). Particular measurement techniques for several accounting aspects are offered in particular international financial reporting standards (IFRS). Rather than most of the accounting standards, IFRS offers a free choice between the fair value and historical cost accounting non-financial asset groups including plant and equipment (PPE) and intangibles. This resulted in several changes in the PPE and valuation practice based variations (Missonier-Piera and Franck 2007). One consideration that increases the chances of debate is very forces of market despite of regulators d etermine less evidence on selection between the two accounting practices at the time selection. The paper will consider a quasi-experiment present in current necessary implementation of the International Financial Reporting Standards (IFRS). The objective of the paper is to distinguish between the historical cost and fair value accounting for certain non-financial assets namely PPE (plat, property, and equipment) and intangibles. Theory of Historical Cost and Fair Value Accounting Historical cost is understood as actual cost that is known to be the real amount or certain other equivalents at the time of acquiring along with making several resources and properties. Considering the historical cost, the cost of an asset mentioned in the balance sheet is relied on its original and nominal cost at the time any company is acquired. Moreover, the liability amount is deemed actual receipts or payments due to current obligations (IASB Framework, IAS 16, IAS 38, and IFRS 13. 2015). In certain circumstances, liabilities and assets are indicated at their historical cost due to the reason that no change is observed in the value from the date of companys acquisition. In contrast, in some situations, the value of balance sheet for several items might be distinct in comparison to the actual value. Particularly, for the non-financial assets, GAAP just facilitates just the historical cost accounting and on the other hand, UK GAAP can facilitate PPE or necessitates fair value ac counting for investment property (AASB Framework, AASB 116, AASB 138, and AASB 13. 2015). However, under IFRS historical cost is facilitated for investment property and PPE and in case, active market is present for intangibles. Reliability is also deemed major dimension based on which historical cost generally dominates fair value. Fair Value Accounting Fair value can be understood to be price that can be attained for selling an asset or paid in order to transmit a liability in an efficient and well maintained transaction among the market participants at measurement date (IFRS 13) (Australian Securities Exchange 2015). In addition to that, fair value is deemed as unbiased and reasoned anticipation of likely market price for any service, product or an asset. In contrast, it requires taking into account certain important factors such as: Real utility at a decided development level of social productive capacity Acquisition cost, costs associated with close substitutes and replacement costs The demand along with supply within the market An organization that chooses the fair value should revaluate assets all the time, the book value is distinct from market value (IAS 40 and IAS 16) (New York Stock Exchange, 2015). An organization that selects historical cost might not conduct upward revaluation in the upcoming years. Switch among the fair value and historical cost is deemed as change in accounting principles and requires being justified to the lenders, auditors, equity investors along with the regulators. Historical Cost and Fair Value Accounting Benefits and Challenges- PPE and Intangibles The initial measurement cost of a property aspect along with plant and equipment must be measured at expense that is the real amount from the acquisition date. From the measurement that is in accordance with the preliminary recognition there are two major accounting models namely revaluation and cost models (London Stock Exchange 2015). An organization must select between fair value model and cost model for IP capacity along with initial recognition. Considering the fair value model, losses or gains taking place from transformation in the fair value of IP can be encompassed within net loss or profit considering the time in which it takes place. Fair value accounting model indicates that fair value accounting offers important measures of assets, liabilities along with provided historical costs (Linsmeier 2013). This indicates the incapability of historical cost accounting model for addressing for dealing with impact of non-monetary assets of altering prices. Several fair value accounting critics stated that estimates of fair value decrease dependibility. Considering the same historical cost has several benefits those are recognizable and has increased independence and it focuses on the dealings those are involved in the company other than hypothetical alternatives (Christensen and Nikolaev 2013). Certain disadvantages and advantages of fair value accounting for PPE and intangibles are mentioned under: Suitable Valuation- The major benefits of fair value accounting offers suitable liability and asset valuation on continuous manner to users of organizations reported financial data. At the time asset and liability price is increased or anticipated to increase, the organization considers asset or liability value to recent market price to indicate the things those can be received if it sold asset might have to pay for relieving itself from liability (Liang and Riedl 2013). However, an organization marks down an asset or liability value decreases net income. Real Income- Fair value accounting decreases capability of companies for potential manipulation of mentioned net income. At times, management might indicate increased sale of assets. Such as, using sales losses or gains for decreasing or increasing net income as indicated at a particular time. Employing fair value accounting, losses or gains from certain price changes for assets or liabilities are presented over the time in which they take place (Ball, Li and Shivakumar 2013). An increase in value for asset or liability decrease is associated to net income, asset value reduction or liability value increase can decrease net income. Value Reversal- Fair value accounting can represent issues to companies and of reported financial data users. Market conditions based on which the assets and liabilities are traded might constantly change turning out volatile sometimes. Implementing fair value accounting, firms can reevaluate recent value of PPE and intangibles in turbulent market conditions that can generate huge swings in assets and liabilities value (Watts and Zuo 2016). After stabilization of markets, changes in value reverse to prior normal levels leading to any losses or temporary gains that that indicate fair value accounting has offered several misleading information. Market Impacts- Implementation of fair value accounting might affect down market adversely. For instance, after an asset was revalued downward due to decrease in recent market trading price, decreased asset value can result in increased asset sale at very less price. Devoid of valuation market down needed by fair value accounting, companies cannot feel the need for selling asset within down market for dealing with downward asset valuation (Ellul et al. 2015). Lack of additional selling pressures, market might stabilize with time that can preserve asset value. Identification of Valuation Practices for PPE and Intangibles Tesco Company is positioned among one of the profitable retail companies in London. From analysis of the accounting policy section of the companys yearly report it was gathered that the company follows fair value accounting based valuation techniques. Tesco Company is observed to follow fair value accounting based on IFRS standard and UK accounting standards (Demerjian, Donovan and Larson 2016). This explains that the intangibles and PPE valuation for Tesco Company is done through fair value accounting technique. At the time fair value is implemented, alterations in asset value are mentioned within revaluation reassure that includes fraction of shareholders equity. As per IFRS, selection of valuation technique needs to be reliable for every asset classes. Valuation Practices of Wal-Mart Company Wal-Mart Company is positioned among one of the profitable retail companies in USA. From analysis of the section of accounting policy of the companys yearly report it was gathered that the company follows fair value accounting based valuation techniques. It was gathered that the financial statements of the company are prepared along with that PPE and intangibles in accordance with Financial Reporting Standards (IFRS) (Ramanna 2013). Moreover, impairment losses are valued within the companys financial statements in the financial asset or group of financial assets. Wal-Mart Company follows IFRS 9 financial instruments standard that considers new requirement for the segmentation of financial asset and liabilities valuation. At the time fair value is implemented, positive alterations in asset value are mentioned within revaluation reassure that includes fraction of shareholders equity (Durocher and Gendron 2014). Managers gain incentives for considering effective valuation choices that i ndicate the company stakeholders interest. It can be stated that GAAP and IFRS are identical in consideration to PPE valuation. Valuation Practices of Woolworth Company Woolworth Company is positioned among one of the profitable retail companies in Australia. From analysis of the accounting policy part of the companys yearly report it was gathered that the company follows fair value accounting based valuation techniques. Woolworth Companys valuation is conducted in consideration to International Financial Reporting Standards (IFRS) (Chen, Tan and Wang 2013). Several IFRS amendments were implemented during the recent year that has less impact on the companys reported results. Accounting policy based on fair value accounting on the impairment of non-financial assets for such process. The carrying amount for the companys assets rather than goodwill, associates, inventories and deferred tax assets is reviewed under all the statements of financial position for any impairment indication (Chircop and Novotny-Farkas 2016). The financial statements of the company are observed to be aligned with the accounting policies using sales losses or gains for decreasi ng or increasing net income as indicated at its desired period. Employing fair value accounting or gains from certain price changes for assets are presented over the time this occurs. Value increase for asset or liability decrease contributes to net income, asset value reduction or liability value increase can affect net income (Bowen and Khan 2014). Valuation Practices Consistency for PPE and Intangibles IFRS needs that companies must reveal their valuation practices within the accounting policy part of the yearly reports along with applying selected method with time. Despite conceptual fair value appeal, the expenses of maintaining reliable anticipations does not allow fair value from turning out to be valuation method for non-financial assets (Cantrell, McInnis and Yust 2013). Companies financial reporting selections within consolidated statements, encompassing their non-financial assets valuations have less tax complications. The valuation technique for PPE mentioned within GAAP is the historical cost. Considering IFRS and GAAP, PPE can be identified over expenses. Moreover, significant date of balance sheet is valued at both fair value along with historical cost. In both the scenarios, such assets are deemed depreciation subject. At the time fair value is implemented, alterations in asset value are mentioned within revaluation reassure that includes fraction of shareholders equit y (Bratten, Causholli and Myers 2015). For this reason, revaluations can just affect net income by mean of future depreciation expenses. As per IFRS, selection of valuation needs to be same for the asset classes. For PPE, it is gathered that 3% of sample companies employ fair value accounting for just an asset class as per IFRS implementation (Oulasvirta 2014). As per guidelines of GAAP, historical cost is just the valuation technique allowed for the assets those are intangible. In the same company considers using historical cost, it can carry out future upward revaluations. Managers gain incentives to make effective valuation choices that indicate companies stakeholders interest. It can be stated that GAAP and IFRS are identical in consideration to PPE valuation. Free Choice between Historical Cost and Fair Value Accounting For PPE and Intangibles Different from several accounting standards, IFRS serves as free choice among the fair value and historical cost accounting for the non-financial assets. The free choice declared by IFRS standards facilitates the managers signifying the external stakeholders to reveal choices in accordance with valuation activities (Palea 2014). Managements selection must be exercised abiding by free exchange principles and in the lack of externalities, for instance, on auditors part or industry organizations. Considering the same, it can be stated that under IFRS both the historical cost and fair value are supported for PPE and investment property. However, an a market does not really exist for the intangibles and for this reason, the managerial selection of the valuation circumstances for the intangibles might not be considered as liberated for the investment property and PPE (Griffin 2014). Selection between historical cost accounting and fair value serves as an aspect of long-term conflict among the accounting practitioners. Presence of the market-based illustrations on such free choice is very less. Selection of fair value other than historical cost accounting for the non-financial assets is conducted within a position of the market forces other than the considerations in order to describe the results (Demerjian, Donovan and Larson 2016). In general, it is revealed that decreased use of fair value accounting will be considered. Moreover, from several organizational observations is deemed to rely the market forces for determining the choice. Fair value accounting must be considered to use at the time reliable fair value anticipations are assessable at decreased cost and while they convey information regarding operating performance. For instance, along with few implications, the companys managers are committed to historical cost accounting for plant and equipment (Demer jian, Donovan, and Larson 2016). It was gathered that findings of appropriate selection of fair value accounting and historical cost contributes to the debate that presents market solution to major concerns. Fair value is not likely to serve as valuation method for non-likely to be valuation techniques for non-liquid non-financial assets on regular basis. Several predictions that is cross sectional centering on the tradeoffs of cost-benefit between two valuation conducts are identified (Durocher and Gendron 2014). Reliability serves as major dimension based historical cost that dominates the fair value, the expenses of build dependable fair value anticipations those are deemed as major cross-sectional determinant of selection between both the accounting practices. It is deemed that fair value accounting is extremely possible for being selected for property than several other non-financial assets, as property markets are liquid (Durocher and Gendron 2014). It is also observed that managers tend to implement fair value while it supports performance analysis. Changes in value in investment property are informative for operating performance at the time capital advantages are fraction of business model as it is deemed that utilization of fair value in real estate companies results in holding the investment property. Moreover, dependence on debt-financing impacts fair value selection. Conclusion The aim of the report was to distinguish between the historical cost and fair value accounting for certain non-financial assets namely PPE (plant, property and equipment) alog with intangibles. Historical cost is understood as actual cost that is known to be the real amount or certain other equivalents at the time of acquiring along with making several resources and properties. Considering the historical cost, the cost of an asset mentioned in the balance sheet is relied on its original and nominal cost at the time any company is acquired. An organization that selects historical cost might not conduct upward revaluation in the upcoming years. Switch among the fair value and historical cost is deemed as voluntary change in accounting principles and requires being justified to lenders, auditors, equity investors along with the regulators. Several critics of fair value accounting stated that estimates of fair value decrease reliability. Considering the same historical cost has several benefits those are similar and has increased objectivity along with focussing on the transactions those are actually involved in the company other than hypothetical alternatives. IFRS serves as free choice between the fair value and historical cost accounting for the non-financial assets. IFRS standards consider free choice facilitates the managers signifying the external stakeholders to reveal choices in accordance with valuation activities. Managements selection must be exercised abiding by free exchange principles and in the lack of externalities, for instance, on auditors part or industry organizations. Considering the same, it can be stated that within IFRS both the historical cost and fair value are supported for investment property and PPE. Reference List Aasb.gov.au., 2017.Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au [Accessed 15 Jan. 2017]. Asx.com.au., 2017.Home - Australian Securities Exchange - ASX. [online] Available at: https://www.asx.com.au [Accessed 15 Jan. 2017]. Ball, R., Li, X. and Shivakumar, L., 2013. Mandatory IFRS adoption, fair value accounting and accounting information in debt contracts.Fair Value Accounting and Accounting Information in Debt Contracts (September 11, 2013). Bowen, R.M. and Khan, U., 2014. Market reactions to policy deliberations on fair value accounting and impairment rules during the financial crisis of 20082009.Journal of Accounting and Public Policy,33(3), pp.233-259. Bratten, B., Causholli, M. and Myers, L.A., 2015. Fair value accounting, auditor specialization, and earnings management: Evidence from the banking industry.Auditor Specialization, and Earnings Management: Evidence from the Banking Industry (May 2015). Cantrell, B.W., McInnis, J.M. and Yust, C.G., 2013. Predicting credit losses: Loan fair values versus historical costs.The Accounting Review,89(1), pp.147-176. Chen, W., TAN, H.T. and Wang, E.Y., 2013. Fair value accounting and managers' hedging decisions.Journal of Accounting Research,51(1), pp.67-103. Chircop, J. and Novotny-Farkas, Z., 2016. The economic consequences of extending the use of fair value accounting in regulatory capital calculations.Journal of Accounting and Economics,62(2), pp.183-203. Christensen, H.B. and Nikolaev, V.V., 2013. Does fair value accounting for non-financial assets pass the market test?.Review of Accounting Studies,18(3), pp.734-775. Christensen, Hans B and Nikolaev, Valeri V., 2013. Does fair value accounting for non-financial assets pass the market test? Review of Accounting Studies, 18(3), pp. 734-775. Demerjian, P.R., Donovan, J. and Larson, C.R., 2016. Fair value accounting and debt contracting: Evidence from adoption of SFAS 159.Journal of Accounting Research. Durocher, S. and Gendron, Y., 2014. Epistemic commitment and cognitive disunity toward fair-value accounting.Accounting and Business Research,44(6), pp.630-655. Ellul, A., Jotikasthira, C., Lundblad, C.T. and Wang, Y., 2015. Is historical cost accounting a panacea? Market stress, incentive distortions, and gains trading.The Journal of Finance,70(6), pp.2489-2538. Griffin, J.B., 2014. The effects of uncertainty and disclosure on auditors' fair value materiality decisions.Journal of Accounting Research,52(5), pp.1165-1193. Ifrs.org., 2017.IFRS - Home. [online] Available at: https://www.ifrs.org [Accessed 15 Jan. 2017]. Liang, L. and Riedl, E.J., 2013. The effect of fair value versus historical cost reporting model on analyst forecast accuracy.The Accounting Review,89(3), pp.1151-1177. Linsmeier, T.J., 2013. A Standard setters framework for selecting between fair value and historical cost measurement attributes: a basis for discussion of Does fair value accounting for nonfinancial assets pass the market test?.Review of Accounting Studies,18(3), pp.776-782. Londonstockexchange.com., 2017.Home - London Stock Exchange. [online] Available at: https://www.londonstockexchange.com [Accessed 15 Jan. 2017]. Missonier-Piera and Franck., 2007. Motives for fixed-asset revaluation: An empirical analysis with Swiss data, The International Journal of Accounting, 42(2), pp. 186205. Nyse.com., 2017.The New York Stock Exchange | NYSE. [online] Available at: https://www.nyse.com [Accessed 15 Jan. 2017]. Oulasvirta, L., 2014. The reluctance of a developed country to choose International Public Sector Accounting Standards of the IFAC. A critical case study.Critical Perspectives on Accounting,25(3), pp.272-285. Palea, V., 2014. Fair value accounting and its usefulness to financial statement users.Journal of Financial Reporting and Accounting,12(2), pp.102-116. Ramanna, K., 2013. Why'Fair Value'is the Rule: How a Controversial Accounting Approach Gained Support.Harvard Business Review,91(3). Watts, R.L. and Zuo, L., 2016. Understanding practice and institutions: A historical perspective.Accounting Horizons,30(3), pp.409-423. Historical Cost Versus Fair Value Accounting Question: Discuss about the Historical Cost Versus Fair Value Accounting. Answer: Introduction This study deals with researching on a topic named as Historical cost versus fair value accounting especially for non-financial assets (Weil, Schipper and Francis 2013). In this particular assignment, emphasis will be given on understanding the choice linking fair value as well as historical cost secretarial as it is widely used debated issues in the secretarial journalism. Addition to that, International Financial Reporting Standards provide free choice connecting fair value as well as historical cost secretarial especially for use of non-financial possessions in case of PPE (Property, Plant and Equipment). These valuations are conducted for understanding the variation in the assessment practices used for PPE as well as intangible possessions. In this assignment, three companies are selected for analyzing their use of valuation method whether they use fair value accounting or historical value accounting. Selected companies are Wesfarmers Limited (listed in Australian Stock Exchange) , Tesco Multinational Corporation (listed in London Stock Exchange) and Accenture (listed in New York Stock Exchange). The current segment explains the treatment of non-financial property such as Property, Plant and Equipment by using whichever fair value method or past cost method. From the past decade, it has been noted that accounting profession witness an unprecedented of either harmonization or convergence process in related to IASB Models (Waegenaere, Sansing and Wielhouwer 2015). This is one of the processes that will help in facilitating the comparison of financial information in and among the firm in various jurisdictions by making use of similar regulatory framework. Justification for using dimension concepts in relation to historical expenditure and fair value accounting The choice connecting fair value as well as historical cost secretarial is one of the controversial issues present in the secretarial text (Reimers 2014). IFRS 13 define fair value measurement and sets out in a distinct IFRS structure for measuring the same. It majorly requires disclosure regarding fair value measurements. IFRS 13 is applicable when another IFRS permits for measuring the fair value disclosures regarding fair value measurements like fair value less cost to sell. This includes the share-based payments dealings contained by the limits of IFRS 2. Addition to that, IAS 17 Leases takes into consideration leasing transactions (Ramanna 2013). In accordance with IASB Framework, the major objective of fair value measurement means estimating the price whereby orderly transactions sells or transfers the liability by the market participants (Pratt 2013). Fair value measurement means an entity for determining the following criteria as under: It include the particular asset or liability that is subjective to measurement in its unit of account (Macve 2015) It include non-financial asset whereby there is valuation premises acting appropriate for measurement bases (Hoskin, Fizzell and Cherry 2014) It is the principal market especially for asset or in that case liability (Horngren et al. 2013) It means the valuation techniques used for measurement with the available data by developing inputs by representing assumption. Addition to that, market participants who uses pricing techniques for measuring the asset or liability in a fair value hierarchy (Hoggett et al. 2014). Historical cost accounting, on the other hand, it include the interest capitalization issues places in a broader perspectives for addressing within the context of overarching fair value measurement objectives. This cost accounting in that case for capitalization of interest at market rate of return as considered by standard setters (Henderson et al. 2015). Firstly, IFRS establishes free choice linking fair value as well as historical expenditure secretarial especially for non-financial resources unlike other secretarial principles (Harrison et al. 2014). In addition, present setting explains that IFRS requires exante obligation from one or two accounting policies. This exante remains in the management interest for limiting the scope for prospect opportunistic events such as earnings administration. Managers should have stronger incentive for responding to marketplace demands as well as commit towards accounting treatment for value maximization of firm. Considering the command or advantage side, fair worth secretarial considered to be superior on comparing with historical cost accounting in accordance to Financial Accounting Standards Board (Edwards 2013). As rightly put forward by Gassen (2014), adoption of IFRS is linked with slight move towards fair value secretarial especially for non-financial possessions and constraint under historical cost secretarial under Generally Accepted Accounting Principles. There are several cross-sectional predictions that focus majorly on cost-benefit tradeoffs connecting given assessment practice. It is expected in considering attributes such as local economic, governance as well as legal institutions influencing the market solution in the most appropriate way (Deegan 2013). Fair value secretarial is more preferable for selecting possessions than other non-financial resources (Deegan and Ward 2013). Managers adopt fair value for facilitating performance measurement whereby value changes especially in asset property. It is expected that use of fair worth at real land for holding speculation possessions. In other words, Fair worth negatively affects the key presentation events such as return on assets whereby management selects for holding unproductive assets. Evidence supports market supply cost as well as demand factors influencing the choice of fair value in comparing it with historical cost accounting (Christensen, Baker and Cottrell 2014). As rightly put forward by Deegan (2013), it is argued that fair value secretarial is used for accounting non-financial possessions like augmented value significance as well as information oriented. This is one of the benefits for using fair value accounting into proper course of action. Findings shows that use of fair value is not random as well as occur when benefits outweighs the potential costs. Some of the evidence suggests enormous preponderance of managers for understanding the net reimbursement for use of fair value accounting (Cascino et al. 2016). Fair Value dimension is conducted on the foundation of being more specific for decision makers of monetary statement (Callen 2015). It is argued that fair value improves transparency as well as comparability and appropriateness of gaining secretarial information. Benefits of fair value accounting takes into consideration advantage revaluations for finding out fair value posses for gaining superior relevance Evaluating the advantages and challenges by means of using historical cost and fair value secretarial for PPE intangibles Fair Value Accounting IAS 16 explains PPE (Property, Plant and Equipment used for Small and Medium sized enterprises that fails in permitting use of a model for PPE (Bradshaw et al. 2013). There is less fair value measurement used for SMEs. This initial measurement include costs such as purchase costs after trade discounts for gaining settlement discount used for early cash payments. In fair value accounting, items of PPE should be recognized as assets whereby it is likely that prospect financial reimbursement in association with benefit run of business entity. This particular recognition principle is applied to PPE costs for acquisition or constructing item of PPE costs. One of the benefits of fair value accounting is providing accurate valuation of PPE intangibles and other assets (Bevis 2013). This particular method of accounting help in providing more accuracy for current valuation of assets as well as liabilities Fair Value Accounting provides dimension of true profits. Addition to that, there is less of an chance for manipulating secretarial information by making use of fair value approach as far as possible (Bazley et al. 2013). Fair Value Accounting is more agreed upon use of standard of accounting whereby historical cost accounting provides inaccurate data. It is the far value accounting that tracks all types of assets starting from equipments to buildings as well as land. This reveals the fact that Fair Value Accounting provides a method used for survival in a difficult economy. In that case, fair value accounting aims at allowing ways for asset deductions in and within the market (Waegenaere, Sansing and Wielhouwer 2015). Historical Cost Accounting Historical Cost Accounting has several benefits that are used for accounting PPE intangibles (Weil, Schipper and Francis 2013). This method had undergone criticism for given period as it takes into consideration acquisition cost of assets as well as fails in recognizing the current market value. Historical cost accounting is objective in nature that majorly records original cost of an item for making the final purchase (Hoskin, Fizzell and Cherry 2014). This particular cost accounting has no room for handling as well as information supported by self-governing documentary confirmation like statement, cheque stump as well as statement and receipt. This accounting method help in recording the transactions for gaining fewer objectives as the amount is being recorded as well as depends upon individual point of view at the same time (Waegenaere, Sansing and Wielhouwer 2015). On comparing between different accounting method, historical cost is easier as well as cheaper way of assessment. It depends upon original cost that is already existed as well as cannot amend for determining factors. Addition to that, it requires less estimation especially for accountants for recording data as well as easier for auditor for inspection purpose. This historical cost accounting method is extremely reliable as examined under IASB Framework (Weil, Schipper and Francis 2013). Recognition of estimation activities in relation to the utilize of historical cost and fair value secretarial Wesfarmers Limited Wesfarmers Limited is one of the Australian-listed retail company listed in Australian Stock Exchange (ASX) (Wesfarmers.com.au 2017). This company uses fair value method of accounting for valuing its non-financial assets such as Property, Plant and Equipment. PPE is affirmed at cost less accumulates reduction as well as any other accumulated impairment losses. Wesfarmers Limited includes the price for replacing the parts that seems to be eligible used for capitalization at replacing the unit cost. This major inspection is formed by recognizing the cost concerning payables from the taxation authority (Wesfarmers.com.au 2017). This retail organization uses straight line method for calculating depreciation for 4 to 40 years (useful life of an asset) for Plant and Equipment. Tesco Multinational Corporation Tesco Multinational Corporation is one the retail organization that is listed in London Stock Exchange (Tesco plc 2017). This retail company treats all their non-financial assets such as PPE by performing impairment testing as proper indicator of impairment. This existence of indicators involves the recoverable amount of assets for determining the extent of impairment loss. When a particular asset fails in generating cash flows, then these are considered independent than other possessions. This company estimates the recoverable quantity for cash-generating units for assets. This recoverable amount is considerable higher after comparing it with fair value after deducting costs for selling as well as value in use (Tesco plc 2017). In that case, recoverable amount of an assets are majorly estimated to be quite less than its carrying amount as mentioned the Income Statement. Accenture Accenture had excellent fiscal year for the year 2015 that reflects successful execution of strategy in and across the world. This is company based in Ireland as well as listed in New York Stock Exchange (Accenture.com 2017). They treat PPE intangibles by considering free cash flow amounting to $ 3.7 Billion as well as PPE amounting to $ 395 Million. This company makes strategies in and across dimensions for the business as well as investments for reaching new and high growth areas. They aim at delivering business with strong revenue growth for outpacing the market condition. This means generating strong new bookings as well as grew earnings per share for delivering strong free cash flows. This enables return of substantial cash to potential shareholders for continue making significant investment in business (Accenture.com 2017). Analyzing the valuation practices for PPE and intangibles: Wesfarmers Limited Valuation practices used by Wesfarmers Limited are consistent in nature as they proceeds from the sale of PPE amounting to $ 358 Million (Wesfarmers.com.au 2017). This resulted in net capital expenditure amounting to $ 456 Million for the previous years. This retail property majorly makes the disposals for accelerating for given year in treating non-financial assets such as Property, Plant and Equipment. In the balance sheet of Wesfarmers Limited, it has been seen that the valuation of PPE remained consistent because capital expenditure was offset by major disposals as well as depreciation (Wesfarmers.com.au 2017). It has been mentioned previously that working capital finishes because of increased inventories in relation with store network growth. The valuation of non-financial assets such as PPE is measured by way of viewing at the cost of an asset after deducting depreciation as well as impairment. This means the cost of asset takes into consideration cost of replacing parts that a re sued for capitalization as well as cost of major inspections (Waegenaere, Sansing and Wielhouwer 2015). Tesco Multinational Corporation From the accounting policy section, it has been noted that Tesco held 17900 Million Euros for treating PPE intangibles in consistent form for the year 2016. In Tesco, the Group performed impairment testing for treating the non-financial assets such as Property, Plant and Equipment (Tesco plc 2017). This particular company exorcizes over judging the ways for determining the useful lives as well as residual values of non-financial assets such as PPE intangibles. These assets are mainly depreciate from their remaining values for a estimated useful lives. They even exercises for judgment for determining the required classification of shopping malls considered as investment properties or non-financial assets. There are several factors that needs to be considered for making the determination such as level of services rendered by tenants, property of sublet space acting as a variation in the earning management (Tesco plc 2017). Free cash flow is considered as the net money generated from th e in service behavior after deducting from capital spending especially on non-financial assets such as PPE intangibles. Accenture On analysis, it had been found that Accenture has consistent treatment for valuing their non-financial assets such as Property, Plant and Equipment. Accenture Plc PPE gross hugely declined from 2014 to 2015 and then increases from 2015 to 2016 (Accenture.com 2017). This means carrying amount taken from the balance sheet for valuation of long-lasting physical possessions used for usual behavior of commerce as well as not future for resale activities. This takes into consideration land, equipment, computer equipment as well as furniture and vehicles. These are the amount that is excluded from depreciation (Hoskin, Fizzell and Cherry 2014). Tangible assets, on the other hand, are held by business unit for making use especially in case of manufacture of goods as well as services. It is expected that the company uses or provides economic benefits for more than a year from net accumulated depreciation (Accenture.com 2017). This takes into consideration land as well as production equipment as well as buildings at the same time. Free option connecting historical cost and fair value accounting for PPE and intangibles The choice linking fair value as well as historical cost accounting is the subject for very old argument in and among secretarial academic as well as regulator (Weil, Schipper and Francis 2013). There should be free choice connecting historical cost and fair value secretarial especially for PPE (Property, Plant and Equipment) and intangibles. Further tests signifies that the option for using fair worth varying largely with its financial costs as well as reimbursement. It remains consistent whereby it is found that there are institutional differences as important determinants for selection of fair value. The other predictions are made whereby managers uses fair value for obtaining reliable estimates are consistently low. Fair value expects for facilitation of performance measurement. Most of the business firms hold investment property whereby fair choice is associate and considered as primary activity (Hoskin, Fizzell and Cherry 2014). It shows some confirmation whereby company with l ower speculation opportunity by using fair worth techniques. It is predicted that reliance on debt financing in association for use of fair value taking into consideration asset property and PPE intangibles. This verdict shows robustness as well as holds well while measuring the dependence on liability by leveraging the incidence of debt market assessment. This indicates that market supply as well as command factor pressure the alternative of fair value in opposition to historical cost secretarial. This means historical price is far more leading in nature that attributes secretarial practices while marketplace forces decide the outcome of the option. It is argued that fair value secretarial used by way of documenting a marketplace explanation by selection connecting historical cost as well as fair worth especially for non-financial possessions (Waegenaere, Sansing and Wielhouwer 2015). This help in considerate the marketplace explanation by providing input into regulators choice making procedure. This reveals that marketplace solution are offered by bringing efficient welfare solutions in case of any kind of possible market failures. Firstly, management choice needs to be exercised after considering principles of free exchange as well as absence of externalities such as correction on part of auditors or in that case industry organization. Secondly, in case free markets fails in conducting discipline management by promoting the interest of outside investors such as government failures or the presence of information asymmetry (Hoskin, Fizzell and Cherry 2014). Managers select accounting practices from their private sources of inter est activities. There are two additional features for setting opportunism for considering the IFRS requirements for pre-committing of either fair value accounting or historical price. It takes into consideration nonexistence of information irregularity connecting principal or investor as well as agent or organization in admiration to agents events such as selection of accounting practices (Weil, Schipper and Francis 2013). Conclusion From the above analysis, it has been noted that measurements concepts are widely used by companies in accordance to IASB Framework and IFRS 13. Companies either use fair value accounting or historical cost accounting for evaluating their non-financial assets such as PPE and other intangibles. The above discussion clearly explains the concept of fair value accounting as well as historical cost accounting as a measurement bases. It also takes into consideration various benefits as well as challenges by making use of historical cost accounting as well as fair value accounting especially for non-financial assets like PPE intangibles. The above-mentioned companies (Wesfarmers, Tesco and Accenture) use fair value accounting as a measurement bases for making effective valuation practices. In the last part, it is recommended that there should be free choice of selecting either fair value accounting or historical cost accounting for making the valuation of non-financial assets such as PPE and intangibles. References Accenture.com. (2017).Strategy, Consulting, Digital, Tech, and Operations | Accenture. [online] Available at: https://www.accenture.com [Accessed 12 Jan. 2017]. Bazley, M., Hancock, P., Fisher, C., Lovell, A., Berk, J., DeMarzo, P., Berk, J. and DeMarzo, P., 2013.Financial Accounting: An Integrated. Thomson Pty Ltd, South Melbourne. Bevis, H.W., 2013.Corporate Financial Accounting in a Competitive Economy (RLE Accounting). Routledge. Bradshaw, M., Bens, D., Frost, C.A., Gordon, E., McVay, S., Miller, G., Pfeiffer, R., Plumlee, M., Shakespeare, C., Thomas, W. and Wong, F., 2013. Financial reporting policy committee of the American accounting association's financial accounting and reporting section: Accounting standard setting for private companies.Accounting Horizons,28(1), pp.175-192. Callen, J.L., 2015. A selective critical review of financial accounting research.Critical Perspectives on Accounting,26, pp.157-167. Cascino, S., Clatworthy, M., Osma, B.G., Gassen, J., Imam, S. and Jeanjean, T., 2016. The decision usefulness of financial accounting information: an experimental interview study of institutional investors. Pearson Higher Ed. Christensen, T.E., Baker, R.E. and Cottrell, D.M., 2014.Advanced Financial Accounting. The McGraw-Hill Companies, Inc. Deegan, C. and Ward, A.M., 2013. Financial Accounting and Reporting: An International Approach. Pearson Higher Ed. Deegan, C., 2013.Financial accounting theory. McGraw-Hill Education Australia. Edwards, J.R., 2013.A History of Financial Accounting (RLE Accounting)(Vol. 29). Routledge. Gassen, J., 2014. Causal inference in empirical archival financial accounting research.Accounting, Organizations and Society,39(7), pp.535-544. Harrison, W.T., Horngren, C.T., Thomas, C.B. and Suwardy, T., 2014. Financial accounting: international financial reporting standards. Pearson Higher Ed Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015.Issues in financial accounting. Pearson Higher Education AU. Hoggett, J., Edwards, L., Medlin, J., Chalmers, K., Hellmann, A., Beattie, C. and Maxfield, J., 2014. Financial accounting. Routledge. Horngren, C.T., Sundem, G.L., Schatzberg, J.O. and Burgstahler, D., 2013.Introduction to management accounting. Pearson Higher Ed. Hoskin, R.E., Fizzell, M.R. and Cherry, D.C., 2014.Financial accounting: a user perspective. Wiley Global Education. Macve, R., 2015.A Conceptual Framework for Financial Accounting and Reporting: Vision, Tool, Or Threat?. Routledge. Pratt, J., 2013.Financial accounting in an economic context. Wiley Global Education. Ramanna, K., 2013. Why'Fair Value'is the Rule: How a Controversial Accounting Approach Gained Support.Harvard Business Review,91(3). Reimers, J.L., 2014.Financial Accounting: Business Process Approach. Pearson Higher Ed. Tesco plc. (2017).Tesco PLC. [online] Available at: https://www.tescoplc.com [Accessed 12 Jan. 2017]. Waegenaere, A., Sansing, R. and Wielhouwer, J.L., 2015. Financial accounting effects of tax aggressiveness: Contracting and measurement.Contemporary Accounting Research,32(1), pp.223-242. Weil, R.L., Schipper, K. and Francis, J., 2013.Financial accounting: an introduction to concepts, methods and uses. Cengage Learning. Wesfarmers.com.au. (2017).The Wesfarmers Way. [online] Available at: https://www.wesfarmers.com.au/who-we-are/the-wesfarmers-way [Accessed 12 Jan. 2017].

Monday, December 2, 2019

Regression analysis

Table of Contents Introduction Types of regression Simple regression Multiple regression Other applications of regression Introduction Regression analysis refers to a tool that is used in statistics to establish a relationship between variables, two or more. The aforementioned variables are quantitative, and they include the explanatory variable, also known as the independent variable, and the dependent variable. This relationship between the aforementioned variables is usually represented in form of an equation, or it can even be represented graphically.Advertising We will write a custom essay sample on Regression analysis specifically for you for only $16.05 $11/page Learn More The function of regression analysis is thus to establish a relationship between the variables using information available about the explanatory variable, and predict values of the dependent variable for decision making. It is therefore apparent that regression analysis is a very useful forecasting tool. Types of regression There are two main types of regression. These are simple regression and multiple regression. In both simple and multiple regression, a regression model is constructed which is presumed to follow a certain distribution. Therefore, regression models can be developed with linear, exponential, or even logarithmic equations. Simple regression This is the type of regression in which there is only one dependent variable and one independent variable. That is, the regression relationship is based on only tow variables. In this case, the explanatory variable is the only unknown in the right side of the regression equation. An example of a linear regression model for simple regression is: Y ^ = bo + b1X Where Y is the dependent variable, X is the explanatory variable, and bo and b1 are constants. The constant bo and b1 are determined by using historical values of X and Y. This gives them values, and therefore, future values of Y can be determin ed if one has the value of X. To exemplify the applicability of simple regression, consider a case in which population is assumed to have a linear relationship with time. In this case, population can be represented by the variable Y, and time can be represented by the variable X. Historical values of population can be used to get values for the constants, making predictions of future population possible. If the stated historical values are plotted, bo is given by the y-intercept of the graph, while the constant b1 is given by the gradient of the resultant line.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Multiple regression Multiple regression is the regression in which there is more than one explanatory variable. An example of a linear regression model for multiple regression is: Y = bo + b1X1 + b2X2 Where Y is the dependent variable, X1 and X2 are explanatory variables/predictor varia bles, and bo, b1 and b2 are constants. The aforementioned constants are determined as in the case of linear regression above, although in multiple regression, multiple predictor variables are used. An example is a case in which population in a given year is assumed to be predicted by time, and number of births in the previous year. In such a case, Y will be the population, and either X1 or X2 will represent time or number of births in the previous year. Such a variable, like the year, that make data to change, are known as dummy variables. Another example of a dummy variable is gender. Standard deviation, which is denoted by Syx, is calculated using the historical values of Y and X, and it represents the error of the regression equation, which is measured with a specific confidence level. Theoretically, it is wise to take large samples as they have less error. R 2, known as the true coefficient, is used to check the variability of the sample data with the regression line. Other appl ications of regression Regression can be applied in a myriad of other situations. For instance, it is very common in businesses, where business indicators are predicted using business drivers. A good example of this is a case in which the sales of a business enterprise can be predicted using the amount of money invested in advertising. This is just a simple example. A real situation will have the sales volume being predicted by multiple variables by the use of the principles of multiple regression. This essay on Regression analysis was written and submitted by user Haiden Strickland 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.

Wednesday, November 27, 2019

Inchon Invasion in the Korean War (Operation Chromite)

Inchon Invasion in the Korean War (Operation Chromite) The Inchon landings took place on September 15, 1950, during the Korean War (1950-1953). Since the beginning of the conflict that June, South Korean and United Nations forces had been steadily driven south into a tight perimeter around the port of Pusan. Seeking to regain the initiative and liberate the South Korean capital of Seoul, General Douglas MacArthur devised a plan for a daring amphibious landing at Inchon on South Koreas west coast. Far from the Pusan Perimeter, his troops began landing on September 15 and caught the North Koreans by surprise. The landings, coupled with an offensive from the Pusan Perimeter, caused the North Koreans to retreat back across the 38th Parallel with UN forces in pursuit. Fast Facts: Inchon Invasion Conflict: Korean War (1950-1953)Dates: September 15, 1950Armies Commanders:United NationsGeneral Douglas MacArthurVice Admiral Arthur D. StrubleGeneral Jeong Il-Gwon40,000 menNorth KoreaGeneral Choi Yong-kunapproximately 6,500 menCasualties:United Nations: 566 killed and 2,713 woundedNorth Korea: 35,000 killed and captured Background Following the opening of the Korean War and the North Korean invasion of South Korea in the summer of 1950, United Nations forces were steadily driven south from the 38th Parallel. Initially lacking the necessary equipment to halt the North Korean armor, American troops suffered defeats at Pyongtaek, Chonan, and Chochiwon before attempting to make a stand at Taejeon.  Though the city ultimately fell after several days of fighting, the effort made American and South Korean forces bought valuable time for additional men and material to be brought to the peninsula as well as for UN troops to establish a defensive line in the southeast which was dubbed the Pusan Perimeter. General Douglas MacArthur during the Inchon Landings, September 1950. National Archives and Records Administration Protecting the critical port of Pusan, this line came under repeated attacks by the North Koreans. With the bulk of the North Korean Peoples Army (NKPA) engaged around Pusan, UN Supreme Commander General Douglas MacArthur began advocating for a daring amphibious strike on the peninsulas west coast at Inchon. This he argued would catch the NKPA off guard, while landing UN troops close to the capital at Seoul and placing them in a position to cut the North Koreans supply lines. Many were initially skeptical of MacArthurs plan as Inchons harbor possessed a narrow approach channel, strong current, and wildly fluctuating tides. Also, the harbor was surrounded by easily defended seawalls. In presenting his plan, Operation Chromite, MacArthur cited these factors as reasons the NKPA would not anticipate an attack at Inchon. After finally winning approval from Washington, MacArthur selected the US Marines to lead the attack. Ravaged by post-World War II cutbacks, the Marines consolidated all available manpower and reactivated aging equipment to prepare for the landings. Pre-Invasion Operations To pave the way for the invasion, Operation Trudy Jackson was launched a week before the landings. This involved the landing of a joint CIA-military intelligence team on Yonghung-do Island in the Flying Fish Channel on the approach to Inchon. Led by Navy Lieutenant Eugene Clark, this team provided intelligence to UN forces and restarted the lighthouse at Palmi-do. Aided by South Korean counter-intelligence officer Colonel Ke In-Ju, Clarks team collected important data regarding the proposed landing beaches, defenses, and local tides. This latter piece of information proved critical as they found that the American tidal charts for the area were inaccurate. When Clarks activities were discovered, the North Koreans dispatched a patrol boat and later several armed junks to investigate. After mounting a machine gun on a sampan, Clarks men were able to sink the patrol boat drive off the enemy. As retribution, the NKPA killed 50 civilians for aiding Clark. Preparations As the invasion fleet neared, UN aircraft began striking a variety of targets around Inchon. Some of these were provided by the fast carriers of Task Force 77, USS Philippine Sea (CV-47), USS Valley Forge (CV-45), and USS Boxer (CV-21), which assumed a position offshore. On September 13, UN cruisers and destroyers closed on Inchon to clear mines from the Flying Fish Channel and to shell NKPA positions on Wolmi-do Island in Inchon harbor. Though these actions caused the North Koreans to believe than an invasion was coming, the commander at Wolmi-do assured the NKPA command that he could repulse any attack. The next day, UN warships returned to Inchon and continued their bombardment. USS Valley Forge (CV-45), 1948. US Naval History Heritage Command Going Ashore On the morning of September 15, 1950, the invasion fleet, led by Normandy and Leyte Gulf veteran Admiral Arthur Dewey Struble, moved into position and the men of Major General Edward Almonds X Corps prepared to land. Around 6:30 AM, the first UN troops, led by Lieutenant Colonel Robert Tapletts 3rd Battalion, 5th Marines came ashore at Green Beach on the northern side of Wolmi-do. Supported by nine M26 Pershing tanks from the 1st Tank Battalion, the Marines succeeded in capturing the island by noon, suffering only 14 casualties in the process. First Lieutenant Baldomero Lopez, USMC, leads the 3rd Platoon, Company A, 1st Battalion, 5th Marines over the seawall on the northern side of Red Beach, as the second assault wave lands at Inchon, 15 September 1950. US Naval History and Heritage Command Through the afternoon they defended the causeway to Inchon proper, while awaiting reinforcements. Due to the extreme tides in the harbor, the second wave did not arrive until 5:30 PM. At 5:31, the first Marines landed and scaled the sea wall at Red Beach. Though under fire from North Korean positions on Cemetery and Observation Hills, the troops successfully landed and pushed inland. Located just north of the Wolmi-do causeway, the Marines on Red Beach quickly reduced the NKPA opposition, allowing forces from Green Beach to enter the battle. Colonel Lewis Chesty Puller. November 1950. US Marine Corps Pressing into Inchon, the forces from Green and Red Beaches were able to take the city and compelled the NKPA defenders to surrender. As these events were unfolding, the 1st Marine Regiment, under Colonel Lewis Chesty Puller was landing on Blue Beach to the south. Though one LST was sunk while approaching the beach, the Marines met little opposition once ashore and quickly moved to help consolidate the UN position. The landings at Inchon caught the NKPA command by surprise. Believing that the main invasion would come at Kusan (the result of UN disinformation), the NKPA only sent a small force to the area. Aftermath Impact UN casualties during the Inchon landings and subsequent battle for the city were 566 killed and 2,713 wounded. In the fighting the NKPA lost more than 35,000 killed and captured. As additional UN forces came ashore, they were organized into the US X Corps. Attacking inland, they advanced towards Seoul, which was taken on September 25, after brutal house-to-house fighting. United Nations Offensive, South Korea 1950 - Situation 26 September and Operations Since 15 September. US Army The daring landing at Inchon, coupled with 8th Armys breakout from the Pusan Perimeter, threw the NKPA into a headlong retreat. UN troops quickly recovered South Korea and pressed into the north. This advance continued until late November when Chinese troops poured into North Korea causing UN forces to withdraw south.

Saturday, November 23, 2019

7 Common Spanish Pronunciation Mistakes

7 Common Spanish Pronunciation Mistakes Few things are more frustrating for someone learning a foreign language than to not be understood by a native speaker. If you want to make a good impression when speaking Spanish, here are seven common pronunciation mistakes English speakers make that you can avoid. You can learn to avoid these common errors, and your Spanish-speaking friends  will know that at least youre making an effort. Turning the R Into Mush Lets get the most difficult letter for English speakers out of the way first! Heres the basic rule: Never pronounce the Spanish r as if it were English. Think of it as a different letter of the alphabet that just happens to be written the same as the English one. Spanish has two r sounds. The simple r sound, which youll hear more often, is close to the dd sound in paddle or the tt in little. So the common word mero (mere) sounds much like meadow, not marrow. That wasnt hard, was it? The other r sound, often called the rr sound because rr was once considered a separate letter of the alphabet, is used for rr and when r appears at the beginning of a sentence or a word by itself. The rr sound is a brief trill and does take some effort to master. You might think of it as the front of your tongue flapping against the roof of the mouth in a strong breeze, or perhaps the sounds of a cat purring or a motorboat revving. Once you figure it out, it can be a fun sound to make. Turning the U Into a Different Vowel The u sound is never like the u in fuse, but, or push. When it doesnt come in combination with another vowel, its like the oo sound in moo, which appropriately is spelled mu in Spanish. So uno (one) sounds something like OO-noh and uniforme (uniform) sounds something like oo-nee-FOR-meh. Like the other Spanish vowels, u has a pure and distinct sound. When the u comes before another vowel, the u glides into the following vowel and ends up sounding something like the English w. Thus cuenta (account) sounds something like KWEN-tah, and cuota sounds fairly close to the cognate quota. And that brings up another point: After the q, the u is silent unless a dieresis is added to make it à ¼. Thus quince (the number 15) sounds like KEEN-seh. But with the dieresis, the u carries the w sound. Thus pingà ¼ino (penguin) is pronounced something like peeng-GWEEN-oh. Giving the G and J Their Sound in ‘Judge’ In English, the g generally has the j sound when g is followed by e or i. The same pattern is true in Spanish, but the j sound also used in the ge and gi combinations is much different. English speakers usually approximate it with the English h sound, although native Spanish speakers in most regions often give it a harsher, more guttural sound. Youll be perfectly understandable if you pronounce gente as HEN-teh and jugo (juice) as HOO-goh. Buzzing the Z The z of Spanish isnt pronounced with the z sound of words such as buzz and zoo. In Latin America, it generally sounds like the English s, while in most of Spain its like the th in thin. So if youre headed to the zoo, think soh in Latin America and thoh in Spain. Pronouncing the B and V as Different Letters Once upon a time, Spanish had distinct sounds for the B and V. But no more - they sound exactly the same and thus often pose a spelling challenge for native speakers. The sound is something like a buzzing sound with the two lips when b or v comes between two vowels and something like a soft English b at other times. You may look at words such as tubo (tube) and tuvo (a form of tener) and think of them as sounding different, but in fact they sound alike. Sounding Out the H How do you pronounce the h? In a word, dont. Except in a very few words of foreign origin such as hmster and hockey, the h is silent. Failing To Keep the L Distinct Listen carefully, and you may notice that the first l of little has a different sound than the second l. The first is formed with the tongue against the roof of the palate, while the second one isnt. The key rule in pronouncing the Spanish l is that it has sound of the first l in little. Thus the l has the same sound in mal as it does in malo and mala (all of them meaning bad). In other words, mal does not sound like mall. The doubled l or ll used to be considered a separate letter of the alphabet. Although its pronunciation varies with region, you wont go wrong to give it the sound of the y in yet. Thus calle (street) sounds similar to KAH-yeh. Key Takeaways When pronouncing Spanish words, remember that the pronunciation rules of English dont always apply.Among the letters that Spanish pronounces much differently than English does are g (sometimes), h, l (sometimes), r, u (usually), v, and z.The repeated letter pairs ll and rr have pronunciations that are distinct from the same letter appearing individually.

Thursday, November 21, 2019

Management about BJ's House restaurant Essay

Management about BJ's House restaurant - Essay Example In addition the restaurant has special entrees that offer wide varieties of food products such as grazed chicken, grilled pork, Texas-style chicken fried steak, southern fried chicken and so on. The company also provides various categories of beverages include all types of fruit juices, homemade beers and imported beers, tea milk and coffee. This article provides a critical analysis of the management strategies employed in BJ’s restaurants (BJ Restaurant Inc. 2006). The contemporary business environment is characterized by fierce competition. This requires industries be constantly conscious their performance in the market. As such, most companies try to explore every mechanism to ensure that they stay ahead of their competitors. Employee motivation is one of the tools that can be employed by organizations to compel their workforce to work towards organizational goals. Motivated employees are also willing to go extra mile for the benefit of the company. All the BJ’s restaurants have good and safe work environments. The company also has strict rules that forbid any form of discrimination or workplace harassments. This impacts the sense of safety in employees and gives them the peace of mind when at work (BJ’s Restaurants Inc. 1). In addition, the annual report elaborates that the company has an insurance arrangement that cover workers’ compensation and general liability programs (2014, 17). The company holds the viewpoint that employees are motivated if they are provided with safe working environments that is free from any form of psychological disturbance. Hence, it has gone ahead and structured rules that eliminates the same from workplaces. It also maintains that providing the workers with favorable conditions will generate optimum performance from them. As a result, the company has a created an organizational culture in which the management and the workforce have a favorable working relationship

Tuesday, November 19, 2019

Gulf Stream Assignment Example | Topics and Well Written Essays - 250 words

Gulf Stream - Assignment Example There is a fundamental challenge in ensuring the allocation of the shortest time to the route, in seeking to reduce the duration taken in transporting cargo between Europe and North America. In the event of a possible turn off of the Gulf Stream, the shipping corporation should establish a contingent plan. The plan would be based on the effects of the event on the shipping time in seeking to ensure continuity of the services provided by the corporation. Many of the upcoming schedules could be considered for establishment of different route in seeking to avert the imminent danger presented by the event. The regulations existing within the shipping routes would become fundamental elements of consideration in the establishment of a contingent plan. The best available options would be weighed on a cost-benefit analysis for evaluation of the services (Roemmich et al., 2007). This will enable the development and adoption of a plan which best suits the operations of the

Sunday, November 17, 2019

Justice or Free

Justice or Freedom of Speech Essay 1. When do the concerns of national security cross the line to infringing on personal freedoms in regards to activities such as data mining? 2. Are people prepared to give up certain civil rights in order to assure safety in the new age of terrorism? 3. Is the government being completely open about the various programs that are  being used under the â€Å"drift net?† 4. What is actual definition of the â€Å"targeted† part of society that is being observed  and tracked? 5. Should the government be able to â€Å"mine† personal data such as financial,  phone and related records? 6. Does the Patriot Act give too much power to the FBI and related government  agencies without judicial oversight? 7. Who is providing checks and balances to the agencies that have been given this  extra power under the Patriot Act? 8. What is the margin for error in defining who is a suspect and who is not? 9. Is there appropriate due process for those targeted by National Security letters  whose records have been requested? 10. Is racially profiling considered a violation of people’s civil rights, and does  the government have a right to use this as a basis for targeting civilians as  possible terrorists?

Friday, November 15, 2019

Computers in the Educational Curriculum :: Education Teaching

Computers in the Educational Curriculum Over the past 15 to 20 years, technological advances have been phenomenal. Computers are becoming a part of our everyday life and greatly affecting our society. Our educational system is one area that is being greatly affected by technology. An increasing amount of students are incorporating technology into their learning in many different ways. As improvements continue to be made, schools will be able to provide their students with a technologically enhanced curriculum. Students now have the ability to create more artistic projects through the use of computer programs such as Microsoft Word and Microsoft Publisher. These programs allow students to incorporate pictures, graphs, and charts that add to the overall quality of projects and assignments. Students are also able to put their work on the World Wide Web, for other students to look at and learn about. With the help of the government, schools’ access to the Internet is on the rise. In 1990, very few schools were connected to the Internet, and those that were had very poor connections. The rate of access in schools began increasing and reached 95 percent in 1999. Also increasing is the amount of Internet access within individual classrooms. . "In 1994, only 3 percent of U.S. classrooms had Internet access. In 1996, President . Clinton announced a set of national educational technology goals, including . providing Internet access to every classroom in the United States. By 1997, the . proportion of connected classrooms had grown to 27 percent. Sixty-three percent . of U.S. public school classrooms had Internet access by 1999, according to . National Center for Education Statistics data (2000)." I believe that the Internet provides many opportunities for students. The Internet has valuable sources for research and allows communication with other students. By providing each and every classroom with Internet access, it connects students and teachers to each other. Kentucky is one state where technology has become a main objective of their curriculum. "The student-to-computer ratio is 6.4 to 1; KDE’s goal is 6 to 1. The teacher-to-computer ratio is 1.4 to 1, with a goal of 1 to 1." This is an example of one state that has realized the influence that technology is having on our society, and is trying to integrate it into the student’s curriculum. One article discusses what classrooms of the future will be like. They believe that students will have their own personal, lightweight appliance that they will take with them from school to home.

Tuesday, November 12, 2019

Malaysia Airlines Essay

Malaysia airlines:   what they did in real life and outcome performance after their adjustment and solution? Malaysia Airlines reduces fuel costs Malaysia Airlines reduces fuel costs on 40 aircrafts, including their A380 fleet, with SITA’s FMS Wind Uplink service. Flight Management System (FMS) calculations are constantly updated by the new service, therefore the airline can adjust flight plans easily owing to adjusting wind and weather conditions. The system also let the aircraft using fuel more cost effectively. From trials results, Wind Uplink saved of up to 600 kilograms of fuel within one flight. Captain Izham Ismail, Director of Operations for Malaysia Airlines, said: â€Å"This new service from SITA delivers savings straight away. We have already trialed SITA Wind Uplink with great success in reducing our fuel costs. It has also helped improve our final fuel on board predictions and made our estimated time of arrival predictions more accurate. We are experiencing real business benefits following introduction of this service at Malaysia Airlines.† Katrina Korzenowski, Director, Aircraft Services, Asia Pacific, SITA, said: â€Å"Wind Uplink enables airlines to take advantage of beneficial changes in weather so crews can bring flights in on time and on budget, reducing fuel costs whenever possible. Due to high fuel prices, we anticipate increased demand for Wind Uplink in the future and are already in discussions with many other potential customers. In addition, because Wind Uplink is packaged as a single service, it can be up and running in just a few hours for SITA Flight Briefing Service and AIRCOM Datalink customers—without any capital expenses.† Resources http://www.sita.aero/content/malaysia-airlines-reduce-fuel-costs-with-sita-s-wind-and-weather-service Etihad presents solution to MAS Etihad developed a track record of partnership and investing with MAS. The reason is MAS would provide Etihad a stronger offline network in Southeast Asia. Etihad put its code on Garuda-operated flights in five offline Indonesian destinations from Jakarta to Singapore. MAS can also provide Etihad connection to Indonesia. Indonesia is the second largest international market for MAS. During the limited code share, Kuala Lumpur-Bali is also one of seven MAS-operated routes covered. http://centreforaviation.com/analysis/malaysia-airlines-considers-tie-up-with-etihad-as-restructuring-process-slowly-begins-172934

Sunday, November 10, 2019

Interrail Pass Integrated Marketing Communication Plan Essay

The main difference between the EuRail and the InterRail is simply based on the passenger’s country of residency. The EuRail is available to residents of a non-European country and the InterRail is available for European residents only. You can be eligible for the InterRail if you have been a resident in a European country for at least 6 months. EuRail and InterRail Passes are widely known as the best rail passes in Europe, having the ability of flexibility by its large range of options. The main audience in the market for the InterRail are a highly 74% youth, having the highest sales in UK, Germany, Switzerland, Spain and Sweden. The InterRail Global Pass, valid for travel in 30 European countries, is still and remains for the 5 year the most popular option among the audience of youth travellers under 26 years old. But within the Global pass, there is dominance for the flexible travel. Due that is in high demand, it is clearly visible that the 10 travel days within 22 days is the most popular product for travellers not wishing to travel everyday of their vacations. One Country pass are Italy and Germany that combined form 62% of the market share. EuRail Group reports an audience of over 248,000 Europeans explored Europe by train. The biggest strength that InterRail has it that is a unique selling product in within the travel market. There is no other kind of pass similar to the InterRail, giving a huge advantage on the market place. Their only competition in a certain way will be the airlines, giving in some cases cheaper tickets or having a faster route. Other mayor strength is they have gathered all of the companies their users are more likely to need in their travels, and create a partnership between them, giving the user benefits and promotions in their services and products. A weakness for the product is that the trains can be highly confusing for the people that have never before use them, making that niche of the audience prefer that actual airplanes. Also there is an speculation in the internet about, the difficulties there are when booking a train with the pass. The Opportunities in within this product will always be to get as much destinations as possible. In within the travel market, the best agency will take you every place you want to go. Creating for InterRail, only a matter of agreements and routes to increase the diversification in the audience and options for the users. A Threat that I found on the market was the airplane because they can travel over seas, giving the advantage in some determined routes takes less time to arrive to the destination rather than the trains, making them look slower and therefore not functional. The Main objectives of the InterRail are to create, manage and target the increasingly comprehensive InterRail passes. Working to generate widespread awareness of the benefits of rail travel for the traveller. One of the Marketing Communication Strategies the product will be using is to emphasis on the brand differentiation with the airplanes. Letting know our audience and market, the benefits of using a train and with that, the InterRail. In here, the plan is to include us and other companies in a generic campaign, fighting for the environment. This would help the market to know, that using a train is more environmental friendly. Current Market Situation When the first InterRail Pass was launched on March 1, 1972 it was managed in conjunction by a large number of train and shipping companies. These companies were starting the business of an overall pass that could unite the traveling experience and save money traveling by train at the same time. In 2001, the EuRail Group was established as an organization dedicated to the marketing and management of the EuRail pass. The EuRail Group is wholly owned by the participating railways and shipping companies with key decisions being taken by the board, consisting of eight appointed member railways. In addition, the Group has many benefit partners, including hotels, transport companies, and museums, which offer their services either at a reduced rate or free of charge for rail, pass holders. In 2007 the EuRail group took over the InterRail pass, to give a more commercial focus. The Market of the InterRail has existed since 1972; there have been several changes. The first InterRail ticket was targeted towards backpacking students under the age of 21 travelling around Europe on a limited budget and cost around 118 euros. The age limit for availing of an InterRail holiday increased from 21 to 23 in 1976 and rose to 26 years in 1979. InterRail targets its rail passes to European residents of all ages and budgets. The highest sales originate in the UK, Germany, Switzerland, Spain and Sweden. Around 74% of InterRail customers are youth, under the age of 26. The proportion of young travellers is higher for the InterRail Global Pass; 79,7% of customers are youth. For the One Country Pass, this proportion is 62,1%.. EuRail Group reports a positive full year of sales for the fifth year running. They had over 248,000 Europeans explored Europe by train. Compared to 2010, the month-to-month sales followed a similar pattern that on 2010. But there were some changes in the months of April and May. These two months were more productive than last year, having a positive sale of 11% for April and 14% growth in May. Also there has been and increase on online sales if InterRail passes, being a 25% amount of the total sales. The InterRail Global Pass, valid for travel in 30 European countries, is still and remains for the 5 year the most popular option among the audience of youth travellers under 26 years old. But within the Global pass, there is dominance for the flexible travel. Due that is in high demand, it is clearly visible that the 10 travel days within 22 days is the most popular product for travellers not wishing to travel everyday of their vacations. In second hand, we have the InterRail one country pass, also having a significant increase of 5. % in sales. The most popular destinations for traveling with the One Country pass are Italy and Germany that combined form 62% of the market share. The Travellers purchasing this pass are interested in visiting one particular country and explore it in depth. The EuroRail Group estimates to see continued growth for the InterRail passes, even with the challenging current European economic state. Mr. de Groot, Managing Director of the EuRail Group said: â€Å"Whilst growth remained modest for the InterRail Global Pass, we still welcomed an additional 5. 00 passengers last year. This reconfirms that InterRail Passes are still an excellent way to explore Europe. We are therefore confident that InterRail sales will continue to grow in the years to come as more and more Europeans discover the real value for money this pass represents† SWOT and Market Analysis In the SWOT analysis we get to describe the strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities and Threats that are involved in a business venture. The analysis divides into two many factors, Internal and External. The Internal factors are the strengths and the weakness of the organization. The External factors are the Opportunities and Threats presented by the external environment to the organization. One of the biggest Strengths of the InterRail is that the EuRail Group has total control over the market, as I see it, it`s a Monopoly. I research for a competition pass, another company that was doing something similar, but I found none. This is because the EuRail Group belongs to the most powerful train companies in Europe, leaving no market space for any other company to equal their promotions. Their only competition in a certain way will be the airlines, giving in some cases cheaper tickets or having a faster route. But they make sure their costumers get what there are looking for, and that will be discount and saving money. EuRail Group has many benefit partners, including hotels, transport companies, and museums. This is another strength for the InterRail; they have gathered all of the companies their users are more likely to need in their travels, creating a microenvironment between them. Some benefits InterRail pass holders have are discounted and free ferry travels on various European crossings. An example can be, that the pass holder can travel free in a ferry between Italy and Greece and even can stop off in the Island of Corfu with no charges. Another strength the InterRail pass is the reputation it has in its marketplace. Since I’ve been to Europe in 2009 to travel with pass, every person I know from then, that has a relatively experience in travel in Europe or has been planning to do so in the near future, has the perception that the InterRail pass is the best way to travel, not only to get to know all of Europe in a short amount of time, but also a way to do explore and save money for other things. Another strength that InterRail has compared to airlines is that most of the stations are in the heart of the city, making it easy to move when arriving to your destination. As everything in life, there are strengths and weaknesses. The hard part about describing a weakness in this product is that they are the only product for this market. But there are a few we can talk about. One of the first weaknesses I found when starting to research was that at first, the InterRail was design for young people to get to travel around Europe for a low amount of money. But things have change, since the beginning of the InterRail; the pass has been changing its rules to travel. At first there was only a global pass, an unlimited month, were you can get in any train you want in the determined month you selected. But know, there is a different story. InterRail has now broken into several passes. Creating a new and different way to travel, having more options, because Europe had been divided into areas. However, some young people believe that the new-zoned tickets have destroyed the original InterRail concept, which allowed unlimited travel over a set period. Leaving the impression that the InterRail is to make profits, and not to help the traveler. Another weakness that I discover was the airplanes. As I began to research, general population of the InterRail had some problems with the booking of trains, they said that they didn’t know that some trains needed to be booked in advance or they didn’t know the difference within the ones you have to book or the ones who don’t. Creating an opinion that is safer to go in plane because you have secure you place in the plane when buying your ticket. Another weakness the InterRail has the trains cant leave the tracks, therefore having to create first the route with track to make the journey possible. The External factor of the InterRail are to be consider, these factors determine the position and structure EuRail Group has to market to be well placed in within the market. The opportunities InterRail has in the market are beginning to getting achieved. As you have read, the InterRail only moves within Europe. But what about Morocco, Libya, Iran Saudi Arabia or even better Mexico. The Opportunities in within this product will always be to get as much destinations as possible. In within the travel market, the best agency will take you every place you want to go. Creating for InterRail, only a matter of agreements and routes to increase the diversification in the audience and options for the users. Another Opportunity the InterRail can have, to create another kind of pass called â€Å"The Group†. This pass will have an itinerary and a trip already planed with nticipation, but the user gets to travel all the time with a group of 10 people, creating the experience of getting to know a new country or city with new people. Therefore the InterRail will become something more than just a pass, but the creator of a full experience trip. The Threats to this organization, the EuRail Group, has been and always be the airplane market. Because of that, the airlines become a direct competitor for the InterRail. This other different market basically does the same but has its difference. In the general outcome of airplanes, at first were considered annoying because of the separation between the city and the airport, the check in for the baggage and the long waiting hours to clime the plane. But all of this has given the InterRail some fight. Another advantage of the plane is that they can travel over seas, giving the advantage in some determined routes takes less time to arrive to the destination rather than the trains, making them look slower and therefore not functional. When booking a flight within 3 or more weeks in advance is a threat for the InterRail, because the airlines can assure very low prices. Another threat that came to me researching the airplanes market was the very low prices they can have in some flights. There is a website called lastminute. com, this website has flights opened at the last minute, 3 days before departure in some cases, and are sold at low prices. Another possible threat is the organization of the most powerful bus companies in Europe. Imagine creating the same pass the trains have, but creating a network of buses that could take you every were you want in the continent. Creating a similar but profitable competition for the InterRail a much cheaper way to travel in within Europe. This could be a niche even smaller than the one InterRail actually posses but can be a start, for the pass to be knowledgeable in the market place. As a general market analysis, the InterRail is in great positioning on the travel market. Giving the ability to travel all around Europe for a low cost, providing destination to every corner. The strength of the product makes it an incomparable experience, due to the factor that is an network of companies that have to share the expenses on the railing, and by that case, created an group for that same reason. As for the railing, its part of it weakness because of the fact that a railway route has to be made in order to create the destination, but what about those destination, not much frequent, but get to have a share in the audience options. Will it be profitable to have that destination; will it be profitable to have the railroad made? There is a lot to be discovered in this market but the most intriguing part of all its future are the opportunities they have to become bigger, to expand to different countries to different continents. Also the rapid innovation on train machinery makes the trains arrive faster at their destination and become more profitable an even more environmental friendly. For last, the most direct competitors for the InterRail are the airlines. They can have lower prices for longer destination, creating a disadvantage for the InterRail. Also can be considering the conjunction of the bus owners, having the same effect as the EuRail Group.