The long run effect of the Eurozone crisis in Germany and Greece

The long run effect of the Eurozone crisis in Germany and Greece Introduction The European financial crisis, which is mostly referred to as the Euro crisis, is an economic term that depicts the economic status of most European countries. The Eurozone crisis started in the year 2009 when most countries in Europe exceeded their spending limits and embarked on borrowing mostly from the European Central Bank (ECB) and the International Monetary Fund (IMF).Advertising We will write a custom essay sample on The long run effect of the Eurozone crisis in Germany and Greece specifically for you for only $16.05 $11/page Learn More The most countries affected by the Europe crisis were members of the EU including France, Germany, Italy, and Greece among others. The crisis followed after the introduction of the Euro currency to be used as a common trading currency among members of the European Union that excluded countries like the Great Britain. The Euro crisis was instigated by reducing the bank lending rate meant to steer economic growth, but most of the countries could not repay these loans. The countries defaulted to repay back the loans. Thus, the European Central Bank was left to struggle to keep the economy of Europe in the worst case scenario since 1998 when the global crisis emerged (Arestis 2012). The existence of the European Union was threatened by this crisis as the banking lending rates became very low. This could stall economic growth thereby instigating loss of jobs in Europe when companies are forced to limit their spending just to keep afloat. Stringent measures had to be thought out quickly as it required the intervention of economic giants like the US and Germany. This was meant to help avert the crisis that would lead to another global financial crisis. Countries like Greece were on the verge of defaulting to repay some of the loans lend out by the ECB and IMF. Thus, the intervention of Germany to help in stimulating the economy of Greece to help it repay the loan was crucial (OECD Economic Surveys: Greece 2011, 2011). The Solow growth model The Solow growth model is an economic graph that examines economic growth by checking how factors like production, population and capital affect the economy. Factors of production like capital and labour affect production in terms of volume and quality. Consumption of goods forms a part of the equation. In this case, demand and supply forces determine the cost of production. The Solow model is represented by the following equation. Y = c + I, where y represents the production function in an economy, c represents consumption, whereas the I represent investments. The Solow model can be represented by the graph below.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More From the graph, it is clear that the higher the economy’s output, the greater the amount of investment. In the case of Greece, the government should increase the level of national output to stabilize the economy. In turn, this will increase the level of investment and thus leading to increased production. A country’s level of output is determined by the input factors. These are factors present in the country where capital and labour resources need to be well utilized to increase the level of output. The Solow growth model can indicate that German has put in place good production resources. Thus, the economy of the country is stabilizing while else the economy of Greece seems to stagnate. A country’s growth is determined by its production and how the production is integrated into its input such as labour and capital. The population in a country provides manpower that helps the industries to operate efficiently. The capital is used to set up a new production line that will help the country to experience growth. The Eurozone Crisis German is known to have a stable economy where any decline in the lending rates could affect the e conomy of the country. The government of Germany has set good and solid financial policies that shield the country’s economy from major global financial crisis. However, the Eurozone crisis happened right in the middle of the country’s major trade partners and thus the value of export in the country could be reduced. Thus, to the emergence of a single currency to be used by members of the European Union the effect of the Eurozone crisis would affect adversely on the members of this union. The Eurozone crisis would spell out a weak Euro currency, which would have a long term effect on the economy of Europe. The economy would reverse due to closure of businesses and companies as they try to cut down on the spending through employee lay off and reduced sale value (Great Britain 2012).Advertising We will write a custom essay sample on The long run effect of the Eurozone crisis in Germany and Greece specifically for you for only $16.05 $11/page Learn More A strong currency would spell out economic growth where countries would experience an economic boom. Thus, the countries would increase the level of their export, and the government would collect high revenue. In the short run, the bailing out of most of the countries would spell out a relief to the economy of Europe where the central bank would be required to print more money to help in repaying some of these loans. However, in the long run, the inflation in Europe would sky rocket registering double digits. This will finally affect the global economy leading to adverse effects on the running of major governments and businesses. The economy of Greece was on the verge of collapse, and as a result of the Eurozone crisis, the country’s economy was in huge trouble. This would affect other countries in Europe (Petrakis 2011). Thus, proper policies from countries like Italy and Spain were to be implemented to help avert the situation in Greece. Greece would have resulted t o more borrowing and accumulate the international debt further and thus slow down their economic growth or even resort to the printing of money, and this would raise the rate of inflation in the country (Siebert 2005). The Eurozone crisis would spell out a sovereign financial crisis to major economies in Europe. Here, they would lose investors, and the Euro currency would fall in value affecting most export from Europe. This will also increase the governments spending as they try to avert the crisis. The value of the Euro would fall amid fears from major world currencies like the US dollar and the sterling pound (Lynn 2011). Thus, the effect of the Eurozone crisis would not only affect Greece and Germany, but other countries in the world would also be affected negatively. The economy of most European countries sustains many countries, especially in Africa and Asia. These are countries that rely a lot on the trading of the Euro and the financial capability of the European Central Ban k to help in money lending and foreign exchange rates to stabilize. The effects of the Eurozone crisis are more profound on the running of the economy of countries like Germany and Greece. The value of the Euro was mostly set out to match the value of the Deutschmark, which was the most stable currency in Europe. Thus, the economy of Germany mostly depends on the value of the Euro (Raussello 2012). The German central bank also referred to as the Bundesbank acted as preservation of the Euro. The bank sought to clear the Eurozone crisis through the economic stimulus program.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This was designed to help most European countries to steer to better economic growth and preserve the value of the Euro. The Euro is highly recognized as a strong trading currency due to its capability and power to trade in different countries around Europe. Thus, any fall in the global market would adversely affect the Euro plus other major currencies in the world (Rogers 2012). The demand of the Euro would reduce if its value declined and this would affect the international trade in Europe that relies mostly on the export of industrial goods and services. Third party governments had to intervene and help in financing these loans. This was due to the effect that some governments could not repay or finance some of the debt they owed to the major world financial institution. Some of the countries that were unable to finance their debts include Greece. In the case of Greece, there was the intervention from countries like German (Fiorentini Montani 2012). The government of German was willing to bail out some of these governments. This was to be taken as a policy to address the crisis, which would have an adverse effect on the economy of many European countries in the long run. Sluggish economic growth in many European countries would even shake stable economies like Germany and Spain. Thus, as a caution to shield their economy from the crisis, the government of these countries resolved to help avert the crisis effects. This was especially the case in other countries like Greece, which were not in a position to finance its foreign debt (Fiorentini Montani 2012). The Eurozone crisis has had adverse effects on the economy of Germany and Greece and not to mention the effect it has had on the economy of Europe and the world. The loss of investors as a result of weak Euro will affect the GDP of most European countries. The effect of the Eurozone crisis in Greece would be adverse and considerably profound due to its inability to finance some of its foreign debts. In t his case, the government would be forced to borrow significantly to repay a part of this loan. The financial position of the country would be on the decline as many jobs would be lost as a result of the financial meltdown. The government would resort to either print extra money or borrow from other sources. In turn, this would increase the money supply within the economy thus raising the level of inflation. Inflation in the country would spell a low bargaining power of the goods and services in the country. International trade would be adversely affected as the countrys goods would fetch low prices on the market due to low currency value in the country (Hardach 1980). The country’s import would cost the country more money as compared to a situation with a strong currency. The country would be spending more than its capacity for the same goods and services. The level of unemployment would increase as most companies would be involved in labour restructuring as a result of cutti ng costs in the country. The government should give relief to the laid off workers when the level of unemployment increases. In this case, the revenue collected from the tax would also decline resulting in low economic growth (Farnsworth Irving 2011). The long run effect of the Eurozone crisis on the economy of German would be a reduced economic growth. In this case, considerable funds would be directed to countries like Greece, which have defaulted in paying their foreign debt. The country’s government would resort to issuing of tax relief to some of its companies that may be affected by the low value of the Euro. The low value of the Euro would affect local industries that produce goods and services for export. Here, their sales would decline due to low currency value thus leading to the lay off some of the workers as a cost cutting mechanism in order to remain in business (Habermas Cronin 2012). The countrys lending rate would go down. This will adversely affect the econ omic growth in the long run as the government tries to revive some of the companies to enhance borrowing in order to stay in business. The government would resort to privatization of some of its assets as it tries to offset some of the deficits it may incur in the process. The country had to budget for over 110 billion Euros to bail out Greece and other countries that had a problem in meeting up the loan repayment. Such financial budgets can affect both the country that is bailing out, and the beneficiary as more stringent measures could be issued to avert the whole situation (Arestis Sawyer 2012). There were various solutions to the Eurozone crisis where major economies in Europe like German, Spain and Italy resolved to help countries like Greece that had problems in repaying their foreign debts in time. The country had to privatize most of its assets as a means of payment for the bail out. This would also help restore the country’s economy, which was on the verge of collap se (Lipschitz McDonald 1990). This will also stimulate economic growth within the next few years. The country had to implement a complete restructuring of its financial reforms so as to stimulate competitiveness and economic growth. The reforms would help in steering the economy to greater heights and project government initiated investment into the economy. The economy could be improved by issuing government bonds to raise more funds and service the loan without having much effect on the value of the Euro. The bail out would help Greece to reduce a part of its foreign debt by over a half. This would help the country to increase its GDP through increased investment and strengthening of the countrys economic growth rate to a great extent (Baldwin, Gros Laeven, 2010). Conclusion The Euro crisis is said to have emanated from various countries in Europe. These are countries that had defaulted in paying their public debt. This led to a fall in value of the Euro currency. Countries like German, which have had strong and stable economic growth characterized by strong, financial capability, resolved to bail out some of these countries that had un-serviced foreign debt accumulating to millions of dollars. These defaulting countries included Greece that had a foreign debt amounting to more than 110 billion Euros. Most industries in the country were on the verge of collapse and thus required an economic stimulus package to help revive the economy back again. The long term effects of the crisis are still being experienced in these countries as they try to revive the value of the Euro for competitive trading. Reference List Arestis, P Sawyer, MC 2012, The Euro crisis, Palgrave Macmillan, Houndmills, Basingstoke Hampshire. Arestis, P 2012. The Euro crisis, Palgrave Macmillan, Basingstoke. Baldwin, RE, Gros, D Laeven, L 2010, Completing the Eurozone rescue: what more needs to be done? Centre for Economic Policy Research, London, Farnsworth, K Irving, Z 2011, Social poli cy in challenging times: economic crisis and welfare systems, Policy, Bristol. Fiorentini, R Montani, G 2012. The new global political economy: from crisis to supranational integration, Edward Elgar, Cheltenham, Glos, UK. Great Britain 2012, Treaty on Stability, Coordination and Governance: impact on the eurozone and the rule of law: sixty-second report of session 2010-12. Vol. 1, Report, together with formal minutes, oral and written evidence, Stationery Office, London. Habermas, J Cronin, C 2012. The crisis of the European Union: a response, Polity, Cambridge, UK. Hardach, K 1980, The political economy of Germany in the twentieth century, Univ. of California Press, Berkeley. Lipschitz, L McDonald, D 1990, German unification: economic issues, International Monetary Fund, Washington, D.C. Lynn, M 2011. Bust: Greece, the Euro, and the Sovereign Debt Crisis, Hoboken, Bloomberg Press, N.J. OECD Economic Surveys: Greece 2011 2011, OECD, Paris. Petrakis, P 2011. The Greek Economy Afte r the Crisis: Challenges and Responses, Springer Berlin, Berlin. Raussello, F 2012, The Eurozone experience: monetary integration in the absence of a European government, F. Angeli, Milano. Rogers, C 2012, The IMF and European economies: crisis and conditionality, Palgrave Macmillan, Houndmills Basingstoke. Siebert, H 2005, The German economy beyond the social market. Princeton Univ. Press, Princeton.

Chapter 9 Essay Example | Topics and Well Written Essays - 500 words

Chapter 9 - Essay Example The environment itself as the public sees it is what is around us. We see that we have a responsibility not to destroy it. It is where we live and what supports our life and all of the life around us. We also have a social responsibility but it is different in many ways. 2. Everywhere there is an abundance of the leftovers of business and our town is no exception. This includes wood, cans, paper, and plastic to name a few. There is smoke from smokestacks and pollution from vehicles getting there and transporting. There are many recycling efforts in play especially for cans, paper and plastic. Most of the companies that bring things in on pallets allow people to use the wood for projects and for burning if they wish so that helps. The air pollutions does not seem to be dealt with a lot though the water is being recycled as much as possible. 3. The issue of global warming is tremendously large. There are many things affecting it. Those countries that were not industrialized before are and the carbon products they are putting in the air are quite large. The rain forests that have filtered the air for generations are being removed for people to live there. There are more cars on the road in more countries than ever before. The ice sheets are melting, the permafrost is melting. It is a giant problem.

Changing organizations is as messy as it is exhilarating, as Essay

Changing organizations is as messy as it is exhilarating, as frustrating as it is satisfying, as muddling-through and creative a process as it is a rational one - Essay Example Main objective of change management is to increase profitability and decrease impediments (Blokdijk, 2008, p. 43). Organizations commit different types of changes such as substantial, transformational and incremental. In 2005, Research scholars have pointed out that changes can be broadly dissected into three parts such as strategic, tactical and operational (DuBrin, 2011, pp. 117-119). Study shows that companies can decide to go through change management process in order to address various external factors like changing purchasing behaviour of customers, need of implanting latest technology in order to retain competitive position in the market, fluctuation in supply and demand while other organizations feel the urge of change management in order to address internal factors like value chain integration, corporate restructuring, product market strategy etc. At some point of time all the organizations face the urge of changing existing corporate structure, human resource strategy or bu siness process. In 1996, Kotter has pointed out that although many organizations fail to incorporate change successfully but still it is the most significant issue for an organization (Kotter, 1996). This study is influenced by exhilarating nature of change process. Organizations need to uproot many of the existing systems ruthlessly in order to make room for change process hence the essay will try to shed some lights on various aspects of organisational dynamics in order to interpret role of organization dynamics in strategic change management. The study will analyze various organizations on the ground of threats, opportunities, context and emerging issues of strategic change management. It is evident from current practices that implementing change in business process is challenging task for organizations hence the essay will miss a great opportunity if it fails shed light on challenges associated with change management process. Challenges come in triplet structure

Physics Behind the Dambuster’s Bouncing Bomb

Physics Behind the Dambuster’s Bouncing Bomb Brookie Trant Introduction The Dambuster Raid and the bouncing bomb played a key role in WW2. The aim was to disrupt industrial productivity of Germany. The Raid was also a well-publicised success story when Britain was stretched to breaking point during the war. The bomb was used to destroy the Mohne and the Edersee Dams and flood the Ruhr Valley, thereby destroying a large proportion of the Germans manufacturing power; thus having the desired knock on effects for the German war effort. The bomb was initially conceived by Dr Barnes Wallis in April 1942 in a paper he wrote called ‘spherical bomb – surface torpedo’[1]. The concept was then taken up by Air Chief Marshal the Hon Sir Ralph Cochrane of the Royal Air Force a strong advocate of precision bombing. Also important to bringing the concept to fruition was Air Marshal Arthur Harris commander of Bomber Command. Through these influential commanders Wallis’ idea was brought to a committee and it given the go ahead. Wallis faced a range of practical issues such as: the size-to-weight ratio of the bomb with the ability of the aircraft to physically lift and deliver it; how much backspin was needed to be imparted to the bomb in order for it to have a controlled and accurate flight; speed of flight; height from which to drop it and the velocity of the aircraft at point of delivery. All these factors needed to be understood and overcome in order that the bomb could be delivered to the optimum point on the dam wall and then detonated. In answering this question this study will consider four key factors: the weapon design, the delivery of the weapon, the detonation and how all of these had a great enough affect to destroy the dam. It is useful at this point to qualify the definition of the bouncing bomb. The use of bouncing to describe the Operation Chastise bomb is loose. The physics of bouncing by definition requires a level of elasticity which as the object hits a solid, a fluid or a powder results in a permanent or non-permanent change in the objects form (elasticity). This doesn’t occur with the ‘bouncing’ bomb. It is better to define the Chastise Bomb as ricocheting but for the purpose of this study the phrase bouncing bomb will be used[2]. Weapon Design This was where the bomb started. A key area which needed to be addressed was the shape of the bomb. This had a major role in providing a reliable and successful bomb. This section explains the reasoning behind the cylindrical shape and how this affected the bombs delivery. The shape of the bomb was a key issue. Wallis’ initial trials used spherical models, so that identical contact with the water would be made throughout its flight; however the bounces were often too unpredictable due to release and water surface conditions. Therefore, to achieve greater stability Wallis experimented with a cylindrical bomb. This negated the unpredictability but did not stabilise the issues of trajectory and keeping it level. He realised that by using backspin these problems could be overcome. Backspin was also a key aspect in the delivery of the weapon to the detonation point. This vital aspect will be further discussed in this study in the delivery method section. Once at the point of detonation the bomb was required to explode underwater. On explosion a shock wave would be created, enough to destabilise the dam wall. The weight of water would then provide the breach. Wallis started with trying to find the correct measurements for the amount of explosive needed to breech the dam. He used a model on a scale of 1/17 of the real thing. He then used 100g of gelignite 1.2m away from the wall giving the same effect as a 10 tonne bomb 60m away from the dam. This had no effect. He continued his trials until he achieved 150g of explosive 0.3m away from the dam, which meant that he had to use 13 tonnes of explosive 15m away from the dam. When scaled back up, this would need 18 tonnes of casing which would give a 31 tonne bomb to match the effect required. This was a significantly larger bomb that could be dropped by the aircraft to be used. It was clear that he would have to find a different method. He reduced the mass to 4.3 tonnes and would use multip le bombs to breech the dam[3]. The final dimensions of the bomb were 60 inches long and 50 inches wide[4]. This is roughly 1.52m in length and 1.27m in width, with a final weight of 9,250[5]. See figure 1. Delivery Method His next problem was working out speed of the bombs, how far above the surface they needed to be dropped, the distance from the dam and the best way to control the skips of the bomb. His first trials were conducted in his garden at home. He fired marbles across a bucket of water to see whether it would bounce off the surface. It worked and he could control the skip by adjusting the catapult. He now needed to discover if he could control the bomb when it was using multiple skips. For this he needed a slightly larger apparatus and used a huge ship tank at Teddington. Starting with a spherical bomb, he tested different size-to-weight ratios and by using backspin he could control the bounces. This also helped the bomb to sink in a predictable manner when it reached the wall. Here he had success, however Wallis found the flight of the bomb was often unpredictable. He found if he increased the mass significantly it became more stable however for reasons already stated a larger bomb was impractical. Wallis had realised that stability could be achieved by using a cylindrical casing and imparting backspin. This would keep the barrel on its axis and stop it from tilting and therefore follow its correct trajectory. Much like a child’s spinning-top toy, the more backspin you gave the bomb the harder it would be to knock it off its axis, this is angular momentum (this is explained in the paragraph below). He tested the idea in the tank trying out the different revolutions. He also found that by varying the size-to-weight ratio of the cylinders he could keep a 5 ton barrel level on the water and then get it to spin down the dam once it hit the water[6]. Also by rapidly spinning the device backwards this would counteract the forward velocity of the aircraft. Wallis calculated how many bounces would be required before reaching the dam. This calculation needed to include the drop distance from the dam, the elevation of the aircraft and its forward velocity. Importantly with each bo unce the bomb would slow due to the viscosity of the water and the drag effect that it had. Using this equation Wallis was able to calculate the speed of the spin to ensure that the bomb had slowed down to almost zero velocity by the time it reached the dam[7]. He measured that the cylinder would need to be going at 450 to 500 revolutions per minute2 in order to achieve this effect. Angular momentum has the same role as linear momentum but in rotation. The equation for angular momentum is. The equation for linear momentum is â€Å"†. In the equation for angular momentum the ‘I’ replaces the ‘m’ and the ‘ω’ replaces the ‘v’. The ‘I’ is the moment of inertia which is an objects reluctance to change its state of rotational motion[8]. The equation for the moment of inertia changes with the different shapes it is acting on. For a cylinder the moment of inertia is. This meant that by increasing the mass and the radius the moment of inertia will increase making it more stable. However Wallis was restricted by the size of the planes and their ability to carry a heavy bomb. So he used the largest diameter as possible and then put the majority of the weight of the bomb as close to the edge of the cylinder as possible. This way it would have the same effect as a flywheel giving the barrel lots of m omentum. The ‘ω’ is the angular velocity which is how quick the cylinder is rotating its unit is rad s-1. The equation for ω is which shows as you increase the frequency then the ω will increase by a considerable amount. When you put the moment of inertia and angular velocity together you get the angular momentum of a rotating object. It also shows you that by increasing the angular velocity makes it much more difficult to knock the barrel off its axis. Going back to the spinning top the faster you spin it the more difficult it becomes to knock it over. This is what gave the bouncing bomb a clean flight and made sure that it remained on course and didn’t tilt off its axis. The backspin had a secondary effect. By dropping the bomb without backspin the device would naturally receive a turning effect through the horizontal axis in the opposite direction; the net result of this would be that the bomb would not slow in a uniform or predictable manner and therefore likely skip out over the dam rather than slowing and dropping down the inside face. Forward spinning the bomb would have a similar effect to that experienced by a bicycle wheel being rolled at a curb. It wants to keep going[9]. There is a third effect achieved by imparting backspin. This is the key relationship that Wallis would have been aware of and used to calculate speed, height and turning effect. This effect is the Kuttas Lift Theorem or the Kutta–Joukowski Theorem. Developed by German Martin Wihelm Kutta and Russian Nikolai Zhukovsky (Joukowski), in the early twentieth century, the theorem demonstrates the aerodynamic relationship between lift, speed of a rotating cylinder and density of the substance it is moving through (air or fluid)[10]. This theorem sometimes known as the Magnus effect when applied to the conditions of the Dam Buster raid allowed the bomb to ‘crawl’ down the face of the dam wall. The water surrounding the cylinder in conjunction with the back rotation caused striking hydrodynamic forces that pulled the bomb back towards the wall[11]. As seen in figure 2. All three of these effects were identified, quantified, understood and overcome by Wallis, through his thorough trials and experiments and his deep knowledge of physics. Detonation Mechanism The aim of Operation Chastise was to blow up the dam; the easiest way to do this would be to blow the explosive charge on the water side of the dam at the optimum depth. This would make the most of the explosive power. With the weight of the water behind the explosion, it would increase the affect of the force of the bomb. This weight would pressure the dam to breaking through whatever weaknesses had been caused by the initial force of the bomb. The bomb contained three hydrostatic pistols which measured the water pressure as the bomb sank, the bomb would then detonate at a depth of 30 feet. It also had a time fuse that would detonate after 90 seconds as a backup. This was reasonably well developed technology drawn from the experiences of the First World War naval fighting and the ongoing anti-submarine war effort. In essence the hydrostatic pressure, used in the hydrodynamic pistol, increases uniformly according to the simplified equation of P = p g h (where P is hydrostatic pressur e, p is the fluid density (kg/m3), g is gravity and h is height of the water)[12]; the change in the hydrostatic pressure would trigger the hydrodynamic pistol to explode at a depth of 30 feet (9.14m)[13]. Target Effect Once delivered to the detonation point against the dam wall at the correct depth the weapon exploded. This maximised the benefits of the bubble pulse effect typical of underwater explosions, greatly increasing its effectiveness of the explosion and the pressure. The dam wasn’t going to fall by just using the explosive power of the TNT and RDX applied to the external wall of the dam, but by using the pressure of 30 foot (9.14m) of water pressing down on the explosion. The initial force exerted by the exploding bomb was meant to weaken the dam; the water would do the rest. Compared to air water has a significantly higher density than air. Water has a higher quotient of inertia than air. Although this makes water more difficult to move it does mean that it is an excellent conductor of shock waves from an explosion. The damage achieved by these shock waves will be amplified by the subsequent physical movement of water and by the repeated secondary shockwaves or â€Å"bubble pulse †[14]. The small seemingly insignificant cracks formed by the bomb would then be exploited by the water forcing the gaps to get larger until the point where the dam couldn’t hold it any longer. The dam then crumbled. The equation for pressure is (P=pressure, F=force, A=area) this can be rearranged to give this shows us that the pressure will make a huge difference to the force of the explosion. Summary In summarising this study of the physics behind the dam buster raid it is important to recognise the breadth of Barnes Wallis’s experimentation and trials. He overcame the issues of weapon design: its explosive effect and detonation method and issues of casing; the delivery method in terms of speed, height and skip effect; the detonation method; and then the weapon effect on the target. A clear understanding physics and a deep understanding of fluid mechanics, hydrodynamic pressure and the crucial consequence of Magnus Effect were essential for Wallis’s concept to succeed. Bibliography 1 http://en.wikipedia.org/wiki/Bouncing_bomb I used wikipedia just to gain some background knowledge and to use in my introduction. 2 Johnson, W. (1998). Ricochet of non-spinning projectiles, mainly from water Part I: Some historical contributions. International Journal of Impact Engineering (UK: Elsevier) – this was from the same Wikipedia page but the extract was taken from this paper written by W. Johnson. 3 http://home.cc.umanitoba.ca/~stinner/stinner/pdfs/1989-dambusters.pdf this is another paper on the bouncing bomb providing information on the facts and figures on the bomb 4 http://everything2.com/title/bouncing+bomb again this is just facts about the bouncing bomb itself 5 http://www.rafmuseum.org.uk/research/online-exhibitions/617-squadron-and-the-dams-raid/designing-the-upkeep-mine.aspx another with facts an about the bombs dimensions and weight ect. 6 http://simscience.org/fluid/red/DamBusters.html this is a paper for those doing a-level so has very relevant information on it and is a reliable source 7 http://wiki.answers.com/Q/Why_did_Barnes_Wallace_decide_to_spin_the_dambusters_bomb_backwards#slide=16article=Why_did_Barnes_Wallace_decide_to_spin_the_dambusters_bomb_backwards this is using Wikipedia again but it is a general statement so not needing a confirmation reference 8 Advanced Physics (p.101/105) – this is a book used in the physics a-level it gives a great level of understanding and was a very useful book when wanting to look beyond the syllabus 9 A.M. Kuethe and J.D. Schetzer (1959), Foundations of Aerodynamics, John Wiley Sons, Inc., New York ISBN 0-471-50952-3. – this is a book and it explains basic aerodynamics which can also be related to the forces acting on an object in fluid which is the context used in this essay 10 http://www.britannica.com/EBchecked/topic/357684/Magnus-effect this briefly explains the Magnus effect which is used when the bomb is trying to sink down the dam face 11 Pascal’s law – found on http://www.engineeringtoolbox.com/pascal-laws-d_1274.html 12 http://www.historylearningsite.co.uk/dambusters.htm information about the bomb. 13 Fox, Robert; McDonald, Alan; Pritchard, Philip (2012). Fluid Mechanics (8 ed.). John Wiley Sons – another book used briefly to explain how the bomb created a large enough force to break the dam. [1] http://en.wikipedia.org/wiki/Bouncing_bomb [2] Johnson, W. (1998). Ricochet of non-spinning projectiles, mainly from water Part I: Some historical contributions. International Journal of Impact Engineering (UK: Elsevier) [3] http://home.cc.umanitoba.ca/~stinner/stinner/pdfs/1989-dambusters.pdf [4] http://everything2.com/title/bouncing+bomb [5] http://www.rafmuseum.org.uk/research/online-exhibitions/617-squadron-and-the-dams-raid/designing-the-upkeep-mine.aspx [6] http://simscience.org/fluid/red/DamBusters.html [7]http://wiki.answers.com/Q/Why_did_Barnes_Wallace_decide_to_spin_the_dambusters_bomb_backwards#slide=16article=Why_did_Barnes_Wallace_decide_to_spin_the_dambusters_bomb_backwards [8] Advanced Physics (p.101) [9]http://wiki.answers.com/Q/Why_did_Barnes_Wallace_decide_to_spin_the_dambusters_bomb_backwards#slide=16article=Why_did_Barnes_Wallace_decide_to_spin_the_dambusters_bomb_backwards [10] A.M. Kuethe and J.D. Schetzer (1959), Foundations of Aerodynamics, John Wiley Sons, Inc., New York ISBN 0-471-50952-3. [11] http://www.britannica.com/EBchecked/topic/357684/Magnus-effect [12] Pascal’s law [13] http://www.historylearningsite.co.uk/dambusters.htm [14]Fox, Robert; McDonald, Alan; Pritchard, Philip (2012). Fluid Mechanics (8 ed.). John Wiley Sons.

Bad Debts and Uncollectible Accounts Receivable

When we own a business, we hope that all the customers who get goods or service from us will pay in full. But in fact, a certain percentage of customers will default on their obligations. We need to consider this part of money to balance sheet, so that we report them as writing off bad debts.Account Receivable We recognize Account Receivable from two different parts. 1) Service Organization, we record a receivable when it provides service on account. 2) Merchandiser, we records receivable at the point of sale of merchandise on account.Bad Debt Expense Under GAAP, when we sale goods or offer service to customers, we recognize the revenue as â€Å"Sales Revenue† on Income Statement- even the customers don’t pay immediately. When we can’t collect the receivable money, we have to report an expense to offset the revenue which we reported at the beginning of sale or service. This is the so called Bad Debt Expense. In other words, seller records losses that result from extending credit as Bad Debts Expense.Methods of Accounting for Uncollectible Accounts There are two methods to record the uncollectible accounts. 1) Direct Write-Off. But it is theoretically undesirable. 2) Allowance Method. It is much better. Companies estimate uncollectible accounts receivable. Then debit Bad Debts Expense and credit Allowance for Doubtful Accounts. Companies debit Allowance for Doubtful Accounts and credit Accounts Receivable at the time the specific account is written off as uncollectible.Write-offs First of all, we need to decide a specific amount for the uncollectible account. For instance, we decide $1000 debt is uncollectible. Secondary, we decrease the Account Receivable by $1000. We also decrease the allowance for doubtful account by $1000. So, at the beginning we have $20000 for the account receivable and $2000 for allowance, then it falls down to $19000 and the allowance would drop to $1000. Then the net account receivable is still $18000 the same as be ginning. Eg: Bed Debts Expense 1000Allowance for doubtful accounts 1000Balance Sheet Approach Under the percentage of receivables basis, management establishes a percentage relationship between the amount of receivables and expected losses from uncollectible accounts.

Car Crash While Hitchhiking Essay

1. In the story, â€Å"Car Crash While Hitchhiking† the protagonist is characterized as an outsider. Reason being, is because he is he’s evidently a drug addict who wakes up in the middle of nowhere. It even mentioned in the story that he had been to detox. He’s abandoned by the fellows whom he did drugs with. Clearly he did not fit in with most social groups, and he had a hard time being accepted. Due to him being an outsider, I believe that there was some type of event that lead him to be an addict. Maybe he was neglected, or he had a midlife crisis.In the story, he implicated that he wanted to die. As he said when he was inside the car and put all his bags on one side of the car and said that he did not care whether he lives or dies. Certainly all this man was living for was so that he can reach his ultimate nirvana. 2. The central theme in Susan Minot’s short story, â€Å"Lust† is running on empty. Reason I chose this to be the theme is because the protagonist in the story is seeks and she’s in search for the right guy to fall in love with her. Yet, as she continues to be promiscuous activities trying to find the right one, she realizes that they all want her for one reason. She knows that they just want her for sex, and every time she has sexual encounters with them she feels empty inside afterwards. We know she is empty because her parents don’t give her attention, she has no family, and she just wants her heart to be fulfilled. But as you read throughout the short story, you realize all this promiscuity is her fulfillment. This is what makes her content. When she’s in the act of it she has nothing to worry about, bc the sex is hot and passionate. She’s running in empty because she’s absorbing all these guys with the gratifying attitude of not b eing loved. And that is why she continues to lustful.. 3. In the short story, â€Å"The Half Skinned-Steer, the story takes place a in Chicago on a ranch somewhere in the country outskirts. The setting also causes me to think that it’s set in the 1900’s due to the Chicago stockyards. In the short story, â€Å"A Good Man Is Hard to Find† the setting of the story takes place in Atlanta, Ga, somewhere maybe in the city, or the suburbs. The reason I believe that the setting is in the city or suburbs, is because it took the family twenty minutes to reach the outskirts of the city. You can also assume that the setting of the story is in the city due to how the family are dresses. In the story, â€Å"A Worn Path† the setting of the story is in a country town Natchez, Mississippi on an early chilly cold morning on a path of pinewoods while the sun is rising.

Essence of Poetry Essay

Essence of Poetry Ever since man emerged on our planet, the beauty of nature all around him has mesmerized him. The plants, animals, mountains, lakes and rivers, and all that he sees around him during the day inspire him to start singing a song. At night, the moon and the stars and all the hosts of heaven open up a totally new vision that is absolutely breathtaking. So, at night and day, man is struck with awe at the wonder of creation made by an unseen source. His heart rejoices in this beauty and he expresses it through poetry and song. Poetry is not only a wonderful way to express one’s appreciation of nature, but also an effective way to preserve history and tradition as it is passed on from one generation to the next. Many folk tales as well as historic details have been preserved and passed on through generations by poetry. The beauty and rhythm of the poetry have made it a favorite among the young and the old. As youngsters learn these poems from their elders, the poems are faithfully passed on to the next generations. Another great use of poetry is in romance, where one partner expresses his or her love for the other. Love poems and serenades have been extremely popular among the youth who are beginning to be attracted by the opposite sex. Right from ancient literature to entire books in the Bible are devoted to love poetry where one person expresses his or her undying love towards the other. The use of poetry is, therefore, rather manifold and is very intimately tied to the hearts of mankind.