MANAGEMENT ACCOUNTING Essay Example | Topics and Well Written Essays - 2500 words

MANAGEMENT ACCOUNTING - Essay Example external and internal factors. These factors have redefined how management practices or functions are performed across business organizations. In the writings by Burgstahler et al. (2007), they stated that the transformations have largely affected the decision making process since there is a change in the management structure, which has integrated new roles as well as position holders. In addition, technology is also been increasingly applied in performing management functions. Despite the continuous transformation in the field of management, the constant variable has been the fact that accounting figures have consistently played a key role in the decision making process or rather they have consistently been used to decide the direction that the company should take. The strong reliance on accounting figures to perform management functions has led to the development of management accounting or control systems that were specifically designed to help the management of business organizat ions in the process of control, product costing and evaluation of management’s performance. However, in a seminal article, published by Johnson and Kaplan (1987) they both argued that management accounting systems had lost their relevance since they were inadequate for the modern accounting environment. In particular, they succinctly summarized the inadequacy of management account systems to cope with the demands of modern management by stating the information they generated was â€Å"too late, too aggregated, and too distorted to be relevant for managers’ planning and control decisions (Ezzamel et al. 1990). This present study mainly seeks to discuss the above statement in relation to today’s environment. It will begin with a literature review of the main topic of discussion and even a review on Johnson and Kaplan’s criticisms. Secondly, it will state the methodology that was applied in collected secondary data that were used in this study. In the third part before concluding, the study will conduct a critical analysis on the Johnson and Kaplan’s argument. 2.0 Literature review 2.1 Accounting With reference to the writings by Alkaraan and Northcott (2006), they stated that accounting as a practice focuses on recording, measuring, and communicating financial facts to concerned parties who use the facts for varying reasons. Roslender and Hart (2003) noted that in the present business environment, accounting largely focuses on the preparation of accounting reports and less on bookkeeping, which has been reduced to fairly a routine process because of the increased computerization and introduction of more effective systems of internal control. The users and uses of

Certain rules and regulations related to the commercial domain Essay

Certain rules and regulations related to the commercial domain - Essay Example This study looks into law as ‘the rule that the society will enforce’. The notion of law has been used by several aspects like economic activities, such as production and consumption, social activities, such as social integration and relationship, but the most important aspect is related to the business or the commercial activities. In this context the notion of business law has been used. The role of the competition commission where the person is working can be described by the Competition Act that has been introduced in 1998 under the UK law act. The competition commission is a member body of the ‘competition and regulatory responsibilities under UK law’. The competition commission is part of the competition law of the UK. The competition commission is public body that is characterised as a non-departmental organisation. The commission was started as an independent body by the act of 1998 by replacing the ‘Monopolies and Mergers Commission’ on 1999. The commission is aimed at conducting in-detail investigations into: †¢ Mergers (which are either anticipated or completed), †¢ Markets (which is related to the scale monopolies and monopoly practices) †¢ Regulations (including price regulations and industry regulations etc.). These are the major roles of the commission where the person works as a trainee. The role of the commission is to investigate those above mentioned practices and activities and to refer these investigations to the Office of Fair Trade (OFT). The commission cannot initiate any investigation unless it receives reference by another authority. The commission is responsible for taking decisions regarding the mergers and market and for providing remedial measures to industries. These remedial measures are related to the adverse effects which are or can be obtained by mergers and consumers or producers in the market. After completing its investigation the commission produces a report regarding the investigation and its associated results and submits this to the concerned authority and hence, provides remedial measures or decisions (Competition Commission: General Advice and Information, 2006, p.7). The commission conducted a study on â€Å"Public Enterprises, Government Policy and Impact on Competition: Indian Petroleum Industry† on reference by Indicus Analytics Pvt. Ltd. The objective of the study was to examine the nature of competition in Petroleum Refining. The study showed that there is monopoly in the domestic market and suggested that to introduce competition in the market, it is necessary to lift restrictions on imports (Public Enterprises, Government Policy and Impact on Competition:  Indian Petroleum Industry, 2009) Under the Competition Act 1998, 50 public schools were fined for fee fixing by OFT. These schools include Eton and Harrow. Each school was ordered to pay a fine of ? 10000. Around 40000 students who attended between 2001 and 2004 were supposed to beneficiaries (Smithers, 2006). 2. What are monopolies, mergers and cartels? Monopolies, mergers and cartels are the form of economic organisations where one or very few producers produce homogeneous products. A monopoly is defined as the market structure where only one producer or firm produces and supplies a particular product to all the customers of that product. In the UK market for postal service, the Royal Mail had a 350

Latar Belakang :: Foreign Language Essays

Latar Belakang Kasus pembobolan Bank BNI menjadi isu yang mengejutkan masyarakat Indonesia di akhir tahun 2003, dimana Bank BNI mengalami kerugian sebesar Rp 1,7 triliun yang diduga terjadi karena adanya transaksi ekspor fiktif melalui surat Letter of Credit (disingkat L/C). Kasus ini menjadi fenomenal karena selain merugikan keuangan Bank BNI tetapi juga berimbas pada keuangan negara secara makro. A.  Ã‚  Ã‚  Ã‚  Ã‚  Profil Singkat Bank BNI Bank BNI didirikan pada tahun 1946. Perusahaan publik ini mayoritas sahamnya dimiliki oleh Pemerintah Republik Indonesia. Bank BNI merupakan bank terbesar nomor 3 di Indonesia setelah Bank Mandiri dan BCA dengan total aset pada tahun 2003 sebesar IDR. 131,49 triliun. Visi Menjadi Bank kebanggaan nasional yang unggul dalam layanan dan kinerja Misi Memaksimalkan stakeholder value dengan menyediakan solusi keuangan yang fokus pada segmen pasar korporasi, komersial dan konsumer Budaya Perusahaan 1.  Ã‚  Ã‚  Ã‚  Ã‚  BNI adalah bank umum berstatus perusahaan publik. 2.  Ã‚  Ã‚  Ã‚  Ã‚  BNI berorientasi kepada pasar dan pembangunan nasional. 3.  Ã‚  Ã‚  Ã‚  Ã‚  BNI secara terus menerus membina hubungan yang saling menguntungkan dengan nasabah dan mitra usaha. 4.  Ã‚  Ã‚  Ã‚  Ã‚  BNI mengakui peranan dan menghargai kepentingan pegawai. 5.  Ã‚  Ã‚  Ã‚  Ã‚  BNI mengupayakan terciptanya semangat kebersamaan agar pegawai melaksanakan tugas dan kewajiban secara profesional. B.  Ã‚  Ã‚  Ã‚  Ã‚  Ringkasan Kasus   Ã‚  Ã‚  Ã‚  Ã‚  Awal terbongkarnya kasus menghebohkan ini tatkala BNI melakukan audit internal pada bulan Agustus 2003. Dari audit itu diketahui bahwa ada posisi euro yang gila-gilaan besarnya, senilai 52 juta euro. Pergerakan posisi euro dalam jumlah besar mencurigakan karena peredaran euro di Indonesia terbatas dan kinerja euro yang sedang baik pada saat itu. Dari audit akhirnya diketahui ada pembukaan L/C yang amat besar dan negara bakal rugi lebih satu triliun rupiah. Penjelasan mengenai L/C fiktif BNI tersebut adalah sebagai berikut : -  Ã‚  Ã‚  Ã‚  Ã‚  Waktu kejadian : Juli 2002 s/d Agustus 2003 -  Ã‚  Ã‚  Ã‚  Ã‚  Opening Bank : Rosbank Switzerland, Dubai Bank Kenya Ltd, The Wall Street Banking Corp, dan Middle East Bank Kenya Ltd. -  Ã‚  Ã‚  Ã‚  Ã‚  Total Nilai L/C : USD.166,79 juta & EUR 56,77 juta atau sekitar Rp. 1,7 trilyun -  Ã‚  Ã‚  Ã‚  Ã‚  Beneficiary/Penerima L/C : 11 perusahaan dibawah Gramarindo Group dan 2 perusahaan dibawah Petindo Group -  Ã‚  Ã‚  Ã‚  Ã‚  Barang Ekspor : Pasir Kuarsa dan Minyak Residu -  Ã‚  Ã‚  Ã‚  Ã‚  Tujuan Ekspor : Congo dan Kenya -  Ã‚  Ã‚  Ã‚  Ã‚  Skim : Usance L/C Kronologi : 1.  Ã‚  Ã‚  Ã‚  Ã‚  Bank BNI Cabang Kebayoran Baru menerima 156 buah L/C dengan Issuing Bank : Rosbank Switzerland, Dubai Bank Kenya Ltd, The Wall Street Banking Corp, dan Middle East Bank Kenya Ltd. Oleh karena BNI belum mempunyai hubungan koresponden langsung dengan sebagian bank tersebut di atas, mereka memakai bank mediator yaitu American Express Bank dan Standard Chartered Bank. 2.  Ã‚  Ã‚  Ã‚  Ã‚  Beneficiary mengajukan permohonan diskonto wesel ekspor berjangka (kredit ekspor) atas L/C-L/C tersebut di atas kepada BNI dan disetujui oleh pihak BNI.

Education in modern world Essay

Education is an important tool that is applied in the contemporary world to succeed, as it mitigates the challenges which are faced in life. The knowledge gained through education enables individuals’ potential to be optimally utilized owing to training of the human mind. This opens doors of opportunities enables individual to achieve better prospects in career growth. Education has played a paramount role in the modern industrial world. This is attributed to the fact prospective employees must be qualified adequately to perform various tasks effectively. Industries entail resources that are sufficiently equipped with the modern technology to suit the needs and wants of the society. This thus, makes education to become a norm for services in all industrial sectors. The primary skills and the ability to apply the skills is the basis for evaluating the market. The foundation of the society is based on education since it brings economic and social prosperity. Gaining education enhances an individual to live a respectful life in the society. This is because education offers a setting in which culture and values of a society are developed. In this respect, education in modern society provides a forum where the society examines its issues and identifies solutions. The advancement of a society both economically and socially is by gaining education which consequently enables them to run a modern society. Career wise, education is the foundation of developing individuals by providing knowledge regarding humanity the worldover. Individuals in the society acquire new approaches in life that build opinions on the economical and social life. Education enables the society to interpret the world around them rightly, innovating to new ways and means that conform to their environment. The current advancement in technology has been enhanced largely by education, as individuals are able to apply the skills acquired in real life leading to innovations. Employment in the contemporary world is based on education, as employees must possess the required skills that correspond with the current  technology to perform their tasks. Prospective employees must be equipped with skill for them to cope with ever advancing technology in all industrial and agricultural sectors. Therefore, education has become a basic principle to measure the labor market on the basis of essential skills and the ability to appropriate them through suitable communication. Education has played a major role in the modern life to all individuals in the society. It has enabled societies to prosper both socially and economically by enabling them to develop common culture and values. It is through education that Technological advancement has been realized enabling communication and production of cost effective products and services to the society at large.

Ambiguity in English - 572 Words

Ambiguity in English Ambiguity refers to the ambiguous meanings of certain sentence or word in the written form or in the verbal form. Ambiguity is common in the natural language and is also one of the most important subjects for the investigation on language. It may hinder people from conducting a smooth communication since different people would interpret the sentence or word in different ways because of ambiguity. With the development and diversification of language, ambiguity is inevitable in most of the languages and English is no exception. From the perspective of semasiology, when a sentence or a word can be interpreted in two or more ways, there is an ambiguity. There are numerous of ambiguous structures and ambiguous sentences in English. Whenever people talk or write, they would like to try to make their ideas clearly expressed and understood, which make the investigation on the ambiguity necessary. Ambiguity is a unique language phenomenon, which is prevalent in many languages. Therefore, it is necessary to investigate the creation and formation of ambiguity. In the daily life, people would choose to state their mind, convey their message, express their feelings and share their experience through different pronunciations, tones, intonations, vocabularies and grammatical structures. In the process of a communication, for certain need, people have to communicate their thought through with help of body language so as to be understood clearly, which helps to explainShow MoreRelatedWhat Distingishes Human and Animal Communication?1272 Words   |  5 Pagesthe same language. Human language Animal communication system Is descriptive and narrative Non descriptive and narrative Recurrent Repetitive Cognitive and behavioural Only behavioural Has grammatically Has no grammatically 2. State how modern English is being influenced by other languages. Support your answer with concrete examples. (5 marks) LANGUAGES, like cultures, are rarely sufficient unto themselves. It may move on the trade relations or it may consist of a borrowing or interchange of artRead MoreLanguage Paper1544 Words   |  7 PagesLanguage Paper Michelle Langmesser Psy-360 June 6, 2010 Eboni Sheilds Definition of Language â€Å"Many definitions of language have been suggested. An English Phonetician and language scholar, Henry Sweet stated, Language is the expression of ideas by means of speech-sounds combined into words. Words are combined into sentences, this combination answering to that of ideas into thoughts† (language, 2010). The American linguists George L. Trager and Bernard Bloch have the following definitionRead MoreThe Garden Path Effect1741 Words   |  7 Pagespsychology who studied the garden path effect is Lyn Frazier who is a Linguistics professor at the University of Massachusetts. 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In this regard, translators of such legal and UN language find themselves restrained or somehow not completely free to useRead MoreJohn Barsad and Monsieur Defarge in A Tale of Two Cities Essay1003 Words   |  5 Pageshonor or revenge. As a result, ambiguity has evolved in multiple characters because of these difficult choices. Two prominently ambiguous characters are John Barsad and Monsieur Defarge. While Barsad recognizes the importance of career and honor, Defarge sees more prominence in family and revenge. John Barsad’s ambiguity is demonstrated by two contrasting qualities: devotion to his job as a spy and neglect for his family. His devotion to his job as an English spy causes him to appear as a heroicRead MoreStatutory Interpretation And The Human Rights Act1739 Words   |  7 PagesBoth statutory interpretation and the Human Rights Act are a doctrine of precedent by which law is changed and justice is served. The doctrine of precedent is an essential principle of English legal system, which is a form of reasoning, interpreting and decision making formed by case law. It suggests that precedents not only have persuasive authority but must also be shadowed when similar situations arise. Any rule or principle declared by a higher court must be followed in future cases. In shortRead MoreWhat Is The Problem Of Vowel From The Vowel Chart?930 Words   |  4 Pagesto ambiguities like the decision in between [e], [É›], and [É ª] in the word â€Å"urge†, or the deciding w hether the second vowel in â€Å"cups† really was a [É”]. However, once the presence of [ʉ] in â€Å"gold†, which was made present after the formant chart was drawn, enabled us to reject both Hungarian and Uzbek. The decision to reject Uzbek was made stronger when we discovered the presence of certain vowels, [É”] and [à ¸], that were not present in the phonological inventory of Uzbek. 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Comparative Study On Housing Loans Of Sbm - Free Essay Example

Sample details Pages: 15 Words: 4538 Downloads: 1 Date added: 2017/06/26 Category Statistics Essay Did you like this example? This research article is aimed to compare and critically analyse the housing loan schemes offered by State Bank of Mysore and Union Bank of India, Bangalore Branch, India OBJECTIVE OF THE STUDY To recognize and evaluate literature relevant to the theories of home loans. Don’t waste time! Our writers will create an original "Comparative Study On Housing Loans Of Sbm" essay for you Create order To evaluate the general awareness of the various schemes currently offered by HFCs / banks and the purpose of which housing loan are given. To perform comparative analysis for housing loan schemes for State Bank of India and Union Bank of India. To study the documentation process in HFCs (Housing Finance Companies) and critically evaluate problem faced by clients during the process of lending housing finance in banks. To assess and suggest appropriate Conclusions and Recommendations with regards to housing loan schemes offered by SBM or UBI Bank to the customers. Introduction This article explains the housing loan schemes offered by banks in order to bolster the current housing finance situation in India and to taper down the margin between the housing demand and the availability of houses, The National Housing Bank was set up in the year 1988. This was done by keeping in mind that a home seeker though does have a desire for a house but lacks the resources for construction or buying it. To give an enhancement to private housing finance institutions the National Housing Bank came into the picture. It is a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions. While it is important to keep in mind that the National housing Bank itself does not give loans or finance individuals or a party as such. It is only a corporate body to promote, establish, support or aid the housing finance institutions.   India have been serving the people for around three decades and providing various housing loan schemes according to the customers various needs at attractive and reasonable interest rates. In order to facilitate the best housing loan schemes at the least interest rate this research article will help in critically evaluating and comparing the schemes of housing loan for two banks i.e. State Bank Of India and Union Bank of India, Bangalore, India in order to know the best offers provided by the banks as well their performances in order to retain in competition within marketplace. This research article analyses the effectiveness and efficiency of housing loan schemes provided by SBM and UBI bank which will provide its customers a attractive interest rates in on housing loan. Company Overview of SBM and UBI State Bank of Mysore was formed as Bank of Mysore Ltd. in 1913 under the benefaction of the former Government. Of Mysore, on the illustration of the banking commission headed by the great Engineer-Statesman,  Late Dr. Sir M.Visvesvaraya. Subsequently, in March 1960, the Bank became an Associate of State Bank of India. State Bank of India holds 92.33% of shares. The Banks shares are listed in Bangalore, Chennai, and Mumbai stock exchanges. Branch Network The Bank has a widespread network of six hundred eighty two only (682) branches (as on 30.09.2009) and 20 extension counters spread all over India which includes 5 specialised SSI branches, 4 Industrial Finance branches, 3 Corporate Accounts Branches, 4 specialised Personal Banking Branches, 10 Agricultural Development Branches, 3 Treasury branches, 1 Asset Recovery Branch and 8 Service Branches, offering wide range of services to the customers. Human Resources The Bank has a dedicated workforce of 9720 employees consisting of 3169 supervisory staff, 6551 non-supervisory staff (as on 31.03.2008). The skill and competence of the employees have been kept updated to meet the requirement of our customers keeping in view the changes in the environment. (Source: https://www.statebankofmysore.co.in/profile.htm) Union Bank of India UBI Bank is consistently dedicated to bind and maintain its distinctiveness as a foremost, pioneering cost-effective Bank, by means of a down to business approach to the shifting requirements of the general public. A extensive scale of goods and services has been resulted and also made accessible to its precious customers to cater the least of their requirements. Today, with its well-organized, value-added services, continual intensification, reliable productivity and expansion of innovative technology, UBI bank has ensured comprehensive shopper delight, keeping up its image,  Ãƒ ¢Ã¢â€š ¬Ã…“GOOD QUALITY POPULACE TO BANK WITHà ¢Ã¢â€š ¬?.   The key to the triumph of any organisation lies with its personnel or manpower. No wonder, UBI dedicated tem of dynamic and enthusiastic skilled personnel consists of 26000 thousand employee who contribute to the maximum in order to ensure growth for UBI. The bank went for Initial Public offer (IPO) on 20th august 2002 which was fol lowed by the public offer made on February 2006.Government of India holds fifty five percent (55.43%) share capital of Union Bank the current share capital holding of the bank is forty four point five seven percent 44.57 % which includes Individuals and Others. Reason behind choosing the topic for the study Housing is the one of the main priority sector needs a lot attention now days the interest rate of the housing loan is raising very high customers are worried about the rates due to indefinite fluctuation. This study is about the comparison of the various schemes and the interest rate of the two banks State Bank of Mysore and Union Bank of India. After this study we will be able to know that which bank is more convenient in the lending of loan. Different schemes of the bank are convenient in different manner according to customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s priority. The study is important also in case of comparison of the many other banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ schemes to these two banks. Literature Review Meaning of Loan: Loan is a method of lending under which bank gives credit to a borrower for a fixed period and for a specific purpose. Loan are promises for future payment, they have to be repaid in periods beyond a year and are therefore long-term liabilities 3.3Types of Loan: Generally bank grant loans for different period like shorts, medium and long and for different purpose. Broadly, the loans granted by banks are classified follows Bank Loans (1) Short-term Loans: Short-term loans are granted to meet the working capital needs of the borrowers. These loans are granted against the securities of tangible assets mainly the movable assets like goods and commodities, share debenture, etc. (2) Term Loans: Medium and long-term loans are usually called term loans. These loans are granted for more than a year and are meant for purchase of capital assets for the establishment of new units and for expansion or diversification of an existing unit. Loan Procedure: Generally various banks adopt following procedure for loan. Appraisal of Loan Submit the Application Documentation Convene to loan applicant To Issue Draft or Pay order Submit the Application: First of all the loan borrower should submit application to the particular bank. The borrower is required to fill out a common application form, which seeks comprehensive information about proprietorà ¢Ã¢â€š ¬Ã¢â€ž ¢s and loan borrowerà ¢Ã¢â€š ¬Ã¢â€ž ¢s back ground and his business network and as well as his cost of project and economic consideration. Appraisal of Loan: The bank follows good appraisal system for effective lending and to make easy repay in future way. The main task of the lending bank is to make sure that the income generated from the loan is sufficient to repay the loan installments according to the terms and conditions of amortization. The risk involved in term lending is much more than the risk in short-term lending because the loans are given to new undertaking, or for the modernization and expansion of existing undertaking and for loan period. Before sanctioning any loan a banker should assure himself that the borrowing concern shall be able to earn sufficient income to pay the loan installments. The methods of analysis and standard to be adopted for an appraisal of loan are more similar to investment decision than to short-term lending. The appraisal of loan included projection of future trends of output, sales estimated of costs, returns and flow of funds. It is extremely difficult to have a clever cut formula for the appraisal of term loan since many factors have to be considered such as the type of borrowing bank and its activities, the markets potential, its management, and financial position. The amount of loan and the period of its repayment. Another important factor is whether to give weight age to profitability or to its broad economic significance in the development of the economy. A term loan may be appraised by considering four different aspects of the proposal. They are: Technical feasibility Economic feasibility Managerial competence Financial feasibility Documentation: After completing the step of submit the application and appraisal system of loan. Then loan applicant should collect the document for borrowing loan, every documents and requirement are needed according to the co-operative bank rate. If the loan applicant wants to borrow loan of huge amount, so at a time strong documents are presented by loan applicant against bank like evident of shareholders, original and photocopy of propertyà ¢Ã¢â€š ¬Ã¢â€ž ¢s documents, photocopy last three years income tax returns file, etc. if loan applicants has no any recommendation from share holder so firstly the bank becoming share holders of his bank by issuing share to them, so above types of documents are used to borrow loan and advances from the bank. Convene to Loan Application: After collecting the necessary documents, an officer of the recipient bank review it to ascertain whether it is complete for processing, when the application is considered complete. Then the co-operative bank held meeting of his loan applicant and sanctioned the particular loan. Generally this meeting is convened on Monday and Thursdays in every week. Otherwise expected it in other contingent situation and gives date, day and time for delaying particular meeting. To Issue Draft or Pay order: At the last stage is that, after convening of loan applicant and sanctioning loan, borrower should pay its stamp duty, margin and one installment of loan, then in the stamp document or stamp procedure. Then bank gives to them pay order or draft. If the any loan borrowers want to purchase machinery or vehicle from out of city so he need quotation of that particular company, and finally bank made draft of companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s name otherwise if the quotation of city area so at a time the co-operative bank made pay order of companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s name. Them it gives to company through loan applicant. Thus above procedure is followed by the loan applicant, who wants to borrow loan from banks and satisfied his goal or objectives. 1.) In December 2006 Fulbag Singh and Reema Sharma had studied about the housing Finance in India. Housing, as one of the three basic needs of life, always remains on the top priority of any person, economy, government and society at large. In India, majority of the population lives in slums and shabby shelters in rural areas. From the last decade, the Government of India has been continuously trying to strengthen the housing sector by introducing various housing loan schemes for rural and urban population. The first attempt in this regard was the National Housing Policy (NHP), which was introduced in 1988. The National Housing Bank (NHB) was set up in 1988 as an apex institution for housing finance and a wholly-owned subsidiary of Reserve Bank of India (RBI). The main objective of the bank is to promote and establish the housing financial institutions in the country as well as to provide refinance facilities to housing finance corporations and scheduled commercial banks. Moreover, f or the salaried section, the tax rebates on housing loans have been introduced. The paper is based on the case study of LIC Housing Finance Ltd., which analyzes region-wise disbursements of individual house loans, their portfolio amounts and the defaults for the last ten years, i.e., from 1995-96 to 2004-05 by working out relevant ratios in terms of percentages and the compound annual growth rates. A relevant chart has also been prepared to highlight the results. 2) In May 18, 2007 Michael La Cour-Little had studied about the Economic Factors Affecting Home Mortgage Disclosure Act Reporting. The public release of the 20042005 Home Mortgage Disclosure Act data raised a number of questions given the increase in the number and percentage of higher-priced home mortgage loans and continued differentials across demographic groups. Here we assess three possible explanations for the observed increase in 2005 over 2004: (1) changes in lender business practices; (2) changes in the risk profile of borrowers; and (3) changes in the yield curve environment. Results suggest that after controlling for the mix of loan types, credit risk factors, and the yield curve, there was no statistically significant increase in reportable volume for loans originated directly by lenders during 2005, though indirect, wholesale originations did significantly increase. Finally, given a model of the factors affecting results for 2004-2005, we predict that 2006 results will c ontinue to show an increase in the percentage of loans that are higher priced when final numbers are released in September 2007 3.) à ¢Ã¢â€š ¬Ã…“The housing finance market has been consistently exhibiting rapid growth in the past few years. Growth has been largely concentrated on urban areas and in the middle to high income groups, focusing on the salaried class. This growth was partly fuelled by the entry of commercial banks seeking asset growth in a sluggish business environment coupled with the tax incentives on housing loans. The banks, with their lower cost of funds, extensive branch network, capability to provide a range of personal banking services and aided by the average low default rates in housing finance, could expand the market considerably. They however, continued to focus on middle to higher income groups. Lower income groups, self employed and the rural population are by and large excluded. While the middle and higher income groups may continue to access conventional housing finance, increasing attention will need to be paid to the needs of the underservedà ¢Ã¢â€š ¬?. (Source: Saravanan P. Recent Experiences in the Housing Finance Sector A Study with Reference to India.  Housing Finance International  [serial online]. September 2007; 21(5):45-48. Available from: Business Source Complete, Ipswich, MA. Accessed June 17, 2010) 4.) The innovations in housing finance systems in advanced economies over the past two decades have altered the role of housing sector in business cycle and in the monetary transmission mechanism. It concludes that these changes have spilovers from the hosuing sector to the rest of the economy and have amplified their impact by strengthening the role of housing as collateral. This analysis suggests in economies were developed mortgage markets, monetary policymakers may need to respond over aggressively to developments in housing sectors, within a risk-management approach that treats house price dynamics as one of the key factors to be considered in assuming balnce of risks to output and influence. (Source: World Economic Outlook(International Monetary fund), 2008, ISBN 978-1-58906-719-6) 5.) Today, the housing finance market has evolved into an oligolpolistic structure (SSKI, 20606) with three dominant providers-DFC, the largest housing company, ICICI bank the largest private sector bank, State Bank of India the largest bank in country. According to SSKI India research estimation in 200, the three leading housing credit providers accounted for approximately 75 of the market. Only a few foreign banks are involved and they tend to focus on à ¢Ã¢â€š ¬Ã‹Å"High net worthà ¢Ã¢â€š ¬Ã¢â€ž ¢ individuals.Towards the end of 2005, India saw a graduate inching uo of interest rates. Despite this, close to 85 % of housing credit customers still prefer floating rate of interest.(Source: Housing Finance mechanism in India, 2008, ISBN- 978-92-1-131970-5, [emailprotected] United Nations Human Settlement Programme 2008) 6.) à ¢Ã¢â€š ¬Ã…“As per a article report published in wall street the trend in housing sector in India as on February 20,2008 were heading for a slowdown. The withdrawal of an Initial Public offering (IPO) by Emaar MGF Pvt. Ltd is an indication of difficulties companies worldwide are having in tapping market. (Source: Kilbinger, Sara Seddon. India Faces Housing Slowdown.  Wall Street Journal Eastern Edition  20 Feb. 2008: B7.  Business Source Complete. EBSCO. Web. 17 June 2010) 7.) à ¢Ã¢â€š ¬Ã…“The housing market in the Indian metropolitan city of Bangalore. Some problems of housing finance from the viewpoints of families and of public authorities are indicated. It is argued that it is these financial problems that make access difficult for the poorer half of the population of Bangalore to forms of housing other than inner city slums or urban fringe informal housing. Public housing with its unrealistic standards of service provision, but especially its high initial access costs is not well designed to meet the needs of the majority of families. The paper concludes that unless public housing authorities emulate the private housing market they will continue to play a marginal role in housing in a city such as Bangalore. There are signs that this is happening in India with experimentation in both housing finance and lower service standard. (Source: Blore, Ian. Housing and the working class in an Indian metropolis.  Public Administration Developmentà ƒâ€šÃ‚  9.5 (1989): 557-568.Business Source Complete. EBSCO. Web. 17 June 2010.) 8.) The housing sector in India for several decades faced a number of set-backs, such as an unorganized market, development disparities, a compartmentalized development approach and a deterrent rent control system. There was not even a concerted attempt to understand the housing problem let alone promote it. Reforms introduced in the sector during the 1990s, however, have overturned the situation to a great extent. The designing of a shelter policy, the organization of the housing finance market, the introduction of fiscal incentives, increased public investment, legal reforms and others initiatives have brought about a number of changes in the housing sector. Interestingly, these changes have been concerned with both reducing the housing shortage and increasing the number of quality housing stock besides increased access to various other housing amenities like safe drinking water, good sanitation and household electricity. However, the reform initiatives of the housing sector need t o take deep roots and to go a long way to address the growing incidence of sub-standard and dilapidated housing stock for further minimizing the deprivations of housing amenities. This paper considers a few policy options towards addressing the challenges of the housing sector. (Source: Mahadeva M. Reforms in housing sector in India: impact on housing development and housing amenities.  Habitat International[serial online]. September 2006;30(3):412-433. Available from: Business Source Complete, Ipswich, MA. Accessed June 17, 2010) OPERATIONAL DEFINITION OF THE CONCEPT EMI- Equated Monthly Installment is what a loaner pays the Banks every month towards repayment of loan. It is comprises of principle and interest. EMI = L * r (1 + r) n x 1 (1 + r) n à ¢Ã¢â€š ¬Ã¢â‚¬Å" 1 12 Interest rate- It is the amount which banks charge along with the principal amount per year on the basis of fixed rate or floating rate. UBI- Union Bank of India SBM- State Bank of Mysore HFC- Housing Finance Company METHODOLOGY The study dwells on both secondary and primary data. The primary data is collected through interviewing staffs of the banks, secondary data is collected through past details of the Housing finance structure, reports, pamphlets, brochures etc Primary research is form of research which includes the gathering of new data using an acknowledged research method. This could be in form of opinion poll, questionaaire, telephonic interviews or personal interview etc For this research article the author has chosen to carry out primary research by collecting data in form of questionnaire or by interviewing SBM and UBI with the support of bank officials or staff members of bank. Secondary Research is referred to data which is not a original creation. This form of data is already available to a researcher in order to carry out the research process in form of websites, journals or newspapers or company annual reports. How Primary data can be collected: 1.) Questionnaire or Opinion Polls: Questionnaire or opinion polls are intended to gather primary data from a sample taken into consideration, with a aim to critically evaluate or analyse the data in form of tabulated results e.g. stastical data or even by simplifying the results in form of a inference of the numeric data. Questionnaire can be performed in several ways such as telephonic interview, Emails, Online surveys or face to face. These methods of opinion polls are elaborated in broader perspective: Telephone interview: This is the most important and widely accepted method of collecting the original and accurate data for resolving the complex issues and providing the accurate solutions. Merit: From the author point of view the main merit of this method is that its more time consuming and a person can explain views more easily which they cannot do sometime face to f ace. Demerit: The demerit of this method could be that the rejection for telephonic interview which doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t allow the researcher to receive any data for the research. Online Surveys: Surveys nowadays most commonly and widely accepted method of research as it can be presented in many dimension and can be analysed and interpreted based on the requirement of the person and also can be presented in form of tabulation sheets or some analytical software. Merit: This method is very advantageous as a researcher can have a global access from the respondent and its more faster and accurate and easy to administer. Demerit: For this method to have access a user must be well versed with computers as well as its more global method a user should ahve access to internet so that could be a biggest drawback in order to collect data if the respondent donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have knowledge or access to these resources. Personal interview: This form of method is acceptable by everyone as its being designed and implemented based on the convenience of the respondent. A respondent can choose their timing to answer the questionnaires as well its helps in solving the complex issues as it provides the accurate data as well a discussion about the analysis of data from the respondent Merit: The main advantage of face-to-face or direct interviews is that the researcher can accommodate the questions as necessary, classify doubts and ensure that the responses are properly understood, by repeating or rephrasing the questions. The researcher can identify nonverbal clues from the respondent. Disadvantages: The main disadvantage of face-to-face interviews is that geographical limitations may impose restrictions on the surveys and the vast resources that would be needed if such surveys need to be done nationally or internationally. Respondents may feel uneasy about their privacy of their responses when they interact face-to-face with the interviewer. Postal Interview: The most commonly used method of distribution which is fairly easy to administer. The questionnaire and the covering letter will be posted to the sample, usually with a prepaid envelope for returning the completed questionnaire. For this medium short questionnaire will be used. Advantages: A wide geographical area can be covered with the use of postal interview. The respondents use their convenience to fill the form at their own pace. Anonymity of respondents is high. Disadvantages: Any doubts that respondents have cannot be clarified. The return rates of mail questionarres are typically low. Follow up procedures for non responses are necessary in postal interviews. Sampling: Survey provides representative information about a group from which sample was drawn. This qualitative research will involve nonrandom sampling or non-probability sampling where everyone in the population will not have an equal chance to be chosen as part of a sample. The non-probability samples provide good estimates of a population characteristic. Target Population: The target population of my sample will include all bank employees of IS bank. The recruitment of individuals for participation will require the selection of individuals who are employees of IS bank. The sample for the research survey will be selected mostly by these methods: Convenience Sampling: This will be used to identify bank employees who are willing and available for the research survey. As most of the bank employees will be working and will not be available for questioning convenience sampling would be a better choice. Snowballing: This sampling method will be used to identify the first participant. Then that first participant will be asked to refer to other participants with similar characteristics. I have used this method to select bank employees and their friends. It is easier to get representatives for research through this method that has same characteristics. Secondary data can be obtained by: Comparative Case studies: I will go through case studies of competitors who are offering mortgage products in the Turkey market. This will help in understanding their strategies and policies. It will also help in understanding about how they achieve their goal. It will also help in identifying the challenges they faced during marketing their products. Comparative Case Studies helps in comparing two industries and understanding their shortfalls. Hypothesis Since the interest rate on home loan is frequently changing and it is expected that it will rise again by the end of the year 2010. Customers who want to take loan for a long time i.e. more than 15 years and also the big amount are really worried about the payment of high EMI. The problem is mainly for salaried class people who are unable to pay the EMI fixed by the banks on their monthly salary. As the fixed rate of interest is 12.5% now customers are suggested to take loan on floating rate of interest. So hypothesis will be based on the current and future trend of the interest rates of the banks. Analysis of Data Data for analysis will be present in following ways in order to carry out the research as well to do comparative analysis for the subject by giving information in different perspective. Frequency tables  Ãƒâ€šÃ‚   Bar charts, histograms and pie charts  Ãƒâ€šÃ‚   Contingency tables or cross-tabulations   Quantitative and Qualitative data: Qualitative data is form of data which includes the fact and figures such as financial report of a company and Quantitative data is a form of data which can be used analyse the data which is in form of questionnaire and surveys which help in order to analyse the current situation of company and provide the better solutions for company. For this research article author will be using both the data Quantitative as well Qualitative as the research includes both data collection numeric data as well survey or questionnaire data. 3). LIMITATION OF THE STUDY If there are advantages of study then obviously there are limitations of that study also. So, some limitations of this study are: This is basically an academic study suffers from time and money constraints. The other limitation includes the sample size, which is small. Analyses of only two banks are done rather than more banks Study is limited to local area of Bangalore, India Since banks are not willing to disclose their client details so the availed information is limited to report, pamphlet, brochure etc. SCOPE OF STUDY The study mainly deals with Housing Finance Sectors. The two important sectors identified for this purpose are companies and client of public and private Housing finance sector in Bangalore, India. AREA OF THE STUDY The study is limited to only one branch of both banks i.e. UBI and SBM situated in Bangalore due to time, money and information availability constraints. Ethics As the research article is focused on banking industry the confedentiaity of the data will be used for academic purposes within the field of study that is housing schemes of two banks and as per the accordance of business ethics.

The First World War A Brief History with Documents

The First World War, also known as the Great War, began in about 1914 and went on until 1918. This brutal war was an extremely bloody time for Europe and the soldiers that fought in it. These men spent their days in trenches holding down bases and taking in attacks from all sides. The soldiers only free time was consumed with writing letters to those on the home front. The letters they wrote contain heart breaking stories of how their days were spent and the terrible signs of war. The War consumed them and many of them let out all their true feelings of war in their letters to loved ones. In The First World War: A brief History With Documents we can find some of these letters that help us understand what the First World War might have†¦show more content†¦He touches on their tragic deaths compared to their hopeful letters of going home and seeing their loved ones. He describes his astonishment as he realizes that none of these men actually showed hatred or abuse towards the German, they simply believed and had conviction in the justice behind their cause. This letter illustrates the feelings of a once happy man, now stuck at war. He says, War hardens ones hearts and blunts ones feelings†¦(p.68). This young soldier has lost all signs of the happy life he led back home. The harshness of war got to him just like the rest of the soldiers out there and if they so much as dreamed about accepting the reality around them, they would have gone either insane or surrendered and he could not give himself that luxury so onward he went. In the fifteenth document we come across this British soldier describing the battle of the Somme, The young soldier, Christian Creswell Carver writes to his brother about the intensive warfare he faced. He illustrates the war by describing the sounds and views of what he sees on different occasions. He describes the sounds of gunfire over the trees as a noise exactly like a great wave. He depicts the battle as being swallowed up by the great wave and being spit up and washed even further away. He then speaks on the gas attacks he had to endure, describing it as a great cloud that formed into lines and slowly made its way to their trenches.Show MoreRelatedA Short Note On International Business Research Project Essay1444 Words   |  6 PagesIBS 101 – Introduction to International Business Research Project Part A: Research Country – Company – Product – 50 points (1400-1800 words) ONLY WORD DOCUMENTS are accepted for this project as TURNITIN cannot evaluate other file formats. (Your score cannot exceed 23% on the originality check, if it does, it will not be graded) MLA Essay format, include all bibliography and references. Include this sheet as cover sheet. 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