Policies and legislation affecting Early Years Practitioners

Policies and legislation affecting Early Years Practitioners This module will explore the changing features of different Early Years settings, working with other professional and the skills and the core skills of those workers. It will look at the policies and legislation affecting Early Years Practitioners and the beliefs and values that ensure quality childcare. It will also include observations and problems created by working within the current guidelines. Historically homes had no appliances so a womans occupation was chores and childcare, other family members lived locally and helped. With increasing school leaving age and new appliances women could fill freed time with jobs and increased income meant more appliances. Government policy supported women working; they had careers, luxuries became necessities, families dispersed moving to the work and alternative childcare was sought. This led to more childcare requirements providing parental peace of mind rather than education and preparation for life. The quality provided was diverse and various programmes were introduced through law, policy and consultation to meet the growing needs of parents and their children. The Children Act 1989 provided legislation for under-eights, introducing quality standards for all childrens services using a registration and an annual inspection (reports to be made available to parents) system maintained by local authorities. In addition they had to carry out checks on over eighteen year olds who came into contact with children, ensure that the premises used were suitable and set staff : child ratios. Children had to be helped to get the most from planned activities. The Acts failings were that it did not allow access to at risk children, provided insufficient emergency protection, allowed inappropriate Care Orders so that a child could be taken into care unchallenged. It did allow children and their families to be heard but this was seen a problem removing Local Authorities autonomy. The Special Educational Needs Code of Practice (1994) was the first that defined the roll of the SENCO (Special Educational Needs Co-ordinator) appointed for each setting. In 1997 the Labour Government stated in their manifesto: Previously there had been no measurable standards and establishments worked alone. Investment in the National Childcare Strategy (1998) provided more affordable, quality childcare places so parents could work satisfied that their children were safe and well looked after. More training was made available and to accommodate free childcare places for three year olds childminders could become accredited. Early Learning Goals replaced Desirable Outcomes within the Foundation Stage. Sure Start Local Programmes were an initiative started in 1997 to give every child the best start to achieved their full potential, initially 250 centres were opened to support parents, in disadvantaged areas, with early education (from birth to four), childcare and health. In 2004 Sure Start Local Programmes and Neighbourhood Nurseries became Sure Start Childrens Centres and are now accessible to every district. They are now meant to be self-maintained but this has not happened and funding has been cut. They advertise themselves as: The social expectation is that parents should return to work and the care given will provide children with the best start possible implying that wrap around childcare is best but ignores possible developmental problems such as not providing secure attachment, although a key worker is provided, the hours that the centres are open means that they work shifts. More importantly they have failed in their original remit as their qualities are recognised by the middle classes. The Laming Report resulted in the green paper, Every Child Matters (ECM) (2003), highlighting poor communication and lack of information sharing between agencies particularly health and education, when protecting children. It focused on five outcomes: Childrens Act 2004 provided the legislation enforcing local authorities and central government to meet some requirements of ECM particularly regarding multi-disciplinary working. Public outcry to the anti-smacking clause resulted inclusion of a definition of smacking. The Childrens Commissioner lacked power and this continues to cause concern. One agency had to be in overall control; Local Authorities were appointed but other agencies felt marginalised. There was valid concern about data sharing as there have been several occasions when data has been made visible on the internet. After consultation ECM: The Next Step (2004) stated that aged five children should completed the foundation stage so be ready for school narrowing the gap in the 20% most disadvantaged. ECM: Change for Children covered inclusion for special needs. Although the Childcare Act 2006 states that local authorities have to provide information, advice and help for children up to 20 years, it was also given a duty to provide childcare providers information, advice and training, to ensure sufficient childcare to meet parental demand and be duty bound to improve the ECM outcomes. It merged Birth to Three, the Foundation Stage and National Standards for Under Eights Day Care and Childminding into the Early Years Foundation Stage (EYFS) with the expectation of providing high standards of early education from birth to five and recognising over fives need different care. Childcare providers in Hampshire work within their authoritys interpretation of the act. EYFS advocated supporting each child in reaching developmental goals, none being left behind, by focusing on the same five outcomes as ECM. The Statutory Framework for the Foundation Stage (May 2008) aims to EYFS does not embrace diversity particularly in culture or make allowance for special needs. Experiences should be child led so right for each child but they are still kept with peer groups maybe should be more flexible only allow so far behind then special school The anti-EYFS petition stated that as it is mandatory for all childcare and education to follow the same format removing parental choice. Children can no longer be prepared for school so the problems with transition are addressed in school. Multi-agency consultation is pivotal ECM but practitioners continued to rely upon previous assessments and each practitioner assessed the child within their particular remit, no-one looked at the child as a whole, leading to multiple assessments resulting in wasted money and frustration for all parties; this was corrected with Common Assessment Framework (CAF) (2007). The current government agree that every child should fulfil their potential but feel that the key is parental background. They acknowledge that without good quality childcare this is less likely to be met. They cite that However, when their education ends the economy needs to meet the expectations of these children A report commissioned from Leon Feinstein which illustrated that early intervention was needed citing information as much as 40 years old ignoring the impact modern practice. They intend funding early learning and childcare for 20,000 most disadvantage two year olds and extend free childcare (EYE). Most of the 5% that do not currently access EYE come from disadvantaged families; Sure Start Health Visitors remit will be to attract these families. Although the changes in law and policy since 1989 were needed it would have been better if they had been proactive or put into place after consultation with end users (practitioners, parents and children) not just experts and not fixing problems as they occur. Funding has given choices to the poorest and means all practitioners have access to training both required and of choice. Policy continues to change; Education.gov.uk EYFS is under review to extend tests 5 year olds. As result of a child abuse case part of the Serious Case Review report summary states It would be easier to use personal camera memory in a settings phone so more thought is needed before implication. Childcare workers need to have . Additionally they must enjoy being with children, care about them, encourage, listen, stimulate and extend imagination, helping them learn as individuals and watch and record their growth. Many workers bad life experience, repressed not want children to do same and cope with it not end up like me.

Characterization of Nucleic Acids Essay

This paper is an analysis conducted on Nucleic Acids through a variety of tests specifically, Dische, Murexide, Wheeler-Johnson and Phosphate Tests in order to exemplify structural features of nucleic acids as well as identify the principle involved in each chemical test. Different procedures and different test compounds were applied, and results were noted as for changes in colors of precipitates or solutions. For Dische Test, light blue was obtained for RNA and dark violet for DNA. For Murexide Test, a yellow layer was obtained with a mixture of red color and eventually became yellow or orange after addition of warm water. For John-Wheeler Test, a violet precipitate was obtained and lastly for Phosphate Test, a yellow precipitate was obtained. Keywords: Nucleic Acids, Dische Test, Murexide Test, Phosphate Test, Wheeler-Johnson Test1. Introduction The experiment solely revolved on the identification of the different structural features that make up the complex structure of nucleic acids as well as its characterization through specific chemical tests namely Dische Test, Murexide Test, Wheeler-Johnson Test and Phosphate Test. Upon performance of the tests mentioned, the principles involved were identified and stated based on the results obtained from the experiment. 2. MethodologyMaterials such as water bath, test tubes, evaporating dish, test compounds and reagents were gathered and prepared. In Dische Test, ten (10) drops of test compound and Diphenylamine wasplaced in a test tube and heated in boiling water bath for ten minutes. Color change on the solution was noted. In Murexide Test, ten(10) drops of Guanidine was placed in a test tube. Concentrated Nitric Acid(HNO3) was added to the test compound and then brought to water bath to dry until a solid mixture is obtained. Once the mixture dried up, ten(10) drops of Potassium Hydroxide(KOH) was used to wet the reagent and then later on put to boiling water bath again to dry. After addition of KOH, color change was noted and this time, water was added to wet the mixture and put to boiling water bath again to dry. Any color change  to the precipitate was noted. For Wheeler-Johnson Test, ten(10) drops of Barium Hyrdroxide[Ba(OH)2] and Bromine Water placed in a test tube and once the mixture turned red, it was brought to boiling water bath to expel excess Bromine. More than ten(10) drops of Barium Hyrdroxide[Ba(OH)2] was added in excess and color change of the precipitate was noted. In Phosphate Test, twenty(20) drops of test compounds were placed in a porcelain crucible and two(2) drops of Potassium Nitrate(KNO3) plus  ½ spatula fusion mixture of Sodium Carbonate(NA2CO3) was added to the test compound. Mixture was heated using a Bunsen burner until the mixture turned into gray or white. After cooling the mixture, 5 mL of distilled water was added to the reagent and was transferred to a test tube acidified by ten(10) drops of concentrated Nitric Acid(HNO3). Litmus paper was then used to check for acidity and twenty(20) drops of ammonium molybdate solution was added to the reagent & warmed in water bath. Once warmed, the mixture was allowed to stand for ten minutes and formation as well as color of the precipitate was noted. After performing all the tests needed, results were tabulated and analyzed accordingly. 3. Results and Discussion Dische Test clearly indicates that DNA can be identified chemically with the Dische diphenylamine test. DNA (deoxyribonucleic acid) and RNA (ribonucleic acid) are aldehydes, which reacts with the compound, diphenylamine, to produce a blue-colored compound. A positive test for DNA is indicated by a  blue color change. This procedure involves chemical hydrolysis of DNA: when heated in acid, the reaction requires a deoxyribose sugar and therefore is specific for DNA. Under these conditions, the 2-deoxyribose is converted to w-hydroxylevulinyl. This resulted to a blue solution indicating the presence of protein in DNA. Murexide Test on the other hand gave out a yellow precipitate which indicates the presence of uric acid visible in the Guanine samples. It is a double-ringed, crystalline organic base, C5H4N4, not known to occur naturally, and is a form of uric acid heterocyclic in nature. In the Wheeler-Johnson Test, the evidence for a positive result is a violet solution and this clearly shows the concise result of the experiment performed. Cytosine was used in the test which is a Pyrimidine derivative heterocyclic in nature. Phosphate Test gave out a yellow result for the precipitate which simply means that a phosphodiester bond exists between DNA and RNA between the 3†² Carbon atom and the 5†² Carbon of the ribose sugar. 4. Conclusion From the experiment, it is therefore meant that through specific tests, it is possible to characterize structural features of nucleic acid whether it be a helix, string loop or miniband. That certain compound complements the test to be performed and will result to a concise data if performed correctly. That DNA differs from RNA in the sense that only Uracil is found in RNA and Thymine is exclusively located in the DNA though Adenine, Guanine, and Cytosine are both found on DNA & RNA.. 5. References Pratt, Charlotte W. Title Essential biochemistry / Charlotte W. Pratt. Publication info. New York: Wiley, 2004. What is DNA? : A biology adventure / written by Transnational College of LEX translated by Alan Gleason. Publication info. Boston: Language Research Foundation, c2003.

The Sun Also Rises By Ernest Hemingway - 1245 Words

The writer of The Sun Also Rises, Ernest Hemingway was a short story writer, journalist, and an American novelist. He produced most of his work between the nineteen twenties and nineteen fifties. One of Hemingway’s many novels, The Sun Also Rises was originally published on October 22, 1926. In the novel, The Sun Also Rises, Hemingway uses the lead female character, Lady Brett Ashley to portray the new age of women in that time period. In the beginning of the novel when Brett is introduced, she comes across as a very classy and modernized woman. In this time era women are seen as objects, not independent before the twenties. Women always did what they were told to do by the men in their lives. Women were expected to dress as all other†¦show more content†¦She started all that. She was built with curves like the hull of a racing yacht, and you missed none of it with that wool jersey† (p. 30). Men looked at Lady Brett Ashley differently because of how she dressed and acted. Modest women were called â€Å"admirable† or â€Å"exquisite† and men respected them, or just the way they looked. According to Barrett (n.d.) in the article The Sun Also Rises: Cancelled Beginning â€Å"Brett had a certain grand vitality. She had her looks too. She was not supposed to be beautiful but in a room with women who were supposed to be beautiful she killed their looks entirely† (para. 10). On the other hand, everyone started to refer to Lady Brett Ashley as a â€Å"chap† because she cut her hair shorter than some men and dressed as a man would. Therefore it was harder for a man to respect Lady Brett Ashley and treat her like a genuine women. She made a different reputation for herself apart from all other women. Dependency was a lifestyle and never a choice for women in the 1920’s. Women were expected to be dependent on a man. Men went to work, came home and expected a hot cooked meal on the table the second they walk in the door. The men made the money all the money. The women on the other hand never had a federal job. The women were expected to stay home with the kids, make them breakfast, do all of the housework, cook, make sure the kids got their showers and did theirShow MoreRelatedThe Sun Also Rises By Ernest Hemingway1649 Words   |  7 PagesThe Sun Also Rises Ernest Hemingway Introduction Ernest Hemingway’s The Sun Also Rises is a classic work of American prose, and is essential to understanding the social climate of the 1920’s, and the â€Å"Lost Generation†. Hemingway’s motley cast of star-crossed lovers, rabble-rousers, expatriates, gamblers, and burgeoning alcoholics reflect the excitement, loneliness, and disillusionment experienced by Hemingway and his contemporaries. In addition, the post-war angst of young people of the time isRead MoreThe Sun Also Rises By Ernest Hemingway Essay889 Words   |  4 Pages Books are long. 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Masculinity creates a strong tension amongst the male characters in The Sun Also Rises. The clearest example is the impotency of theRead MoreThe Sun Also Rises By Ernest Hemingway1169 Words   |  5 PagesThe Sun Also Rises, written by Ernest Hemingway, is a novel about a group of young expatriates, living in Paris after World War I and going on a trip to Spain filled with drinking, bullfighting, and much more. The protagonist, Jake Barnes, an impotent American WWI veteran and bullfighting aficionado, spends much of his time watching and sometimes helping Brett, the woman he loves, go off with other men. Most of the book takes place in urban areas like Paris and Pamplona is filled with drunken fightsRead MoreThe Sun Also Rises By Ernest Hemingway Essay1676 Words   |  7 PagesErnest Hemingway’s The Sun Also Rises presents an interesting commentary on the fluidity of gender roles and the effects of stepping outside of the socially constructed binary approach to gender. Jake’s impotence and his inability to win Brett romantically results in a struggle wit h masculinity and inadequacy. Brett, possessing many masculine attributes, serves as a foil and embodies the masculinity the men in the novel lack. The juxtaposition of Jake’s struggle and Brett’s refusal to adhere to conventionalRead MoreThe Sun Also Rises by Ernest Hemingway1195 Words   |  5 Pagespowerful aspects of a book. For instance, when a reader reads the title The Sun Also Rises, written by Ernest Hemingway, the reader is able to understand that the title of the novel is connected directly to the message that the author is attempting to convey. The title later brings forth much more significance towards the very end of the novel when the reader pauses and contemplates Hemingway’s motives. The title The Sun Also Rises has the ability to stimulate deep thought within a reader, thus forcingRead MoreThe Sun Also Rises By Ernest Hemingway Essay2149 Words   |  9 PagesErnest Hemingway was one of America’s premiere authors during the early 1900 ’s. He brilliantly wrote a short story or novel in a fashion that was unconventional for the time period. While reading any work by Hemingway the reader has to keep in mind that what is written might be tied to some other part in the story. Hemingway many different writing strategies to keep the reader engaged throughout his stories. Ernest Hemingway is able to keep the readers engaged throughout this novel by incorporatingRead MoreThe Sun Also Rises By Ernest Hemingway1918 Words   |  8 PagesZach Ullom Eng-125F-SO2 Dr. Les Hunter December 3, 2015 Brett Ashley: Whore or Heroine in The Sun Also Rises After a thorough reading and in-depth analyzation of Ernest Hemingway’s riveting novel The Sun Also Rises, the character of Brett Ashley may be seen in a number of different ways. While some critics such as Mimi Reisel Gladstein view Brett as a Circe or bitch-goddess, others such as Carol H. Smith see Brett as a woman who has been emotionally broken by the world around her. I tend lean towardsRead MoreThe Sun Also Rises, Ernest Hemingway1101 Words   |  4 PagesIn most cases all anyone needs in life is love. But what is love? In The sun Also Rises by Ernest Hemingway we get the sad truth about what love sometimes is in the real world and in some cases alike this novel, there are many reasons in which love is lost. One of the reasons for lost love is sex. Unfortunately the sexual drive of other characters in the novel dictates whether they love each other or not. Another factor that plays a huge role of leaving love hopeless is alcohol. In this novelRead MoreThe Sun Also Rises By Ernest Hemingway2494 Words   |  10 PagesThe theme of male insecurity is a prominent theme in Ernest Hemingway s novel, The Sun Also Rises. While many soldiers suffered from disillusionment with the Great War and how it was supposed to make men of them, Jake bore the additional burden of insecurity because of his war wound. Insecurity operates on several levels and surfaces in many ways through the characters we encounter in this novel. We learn from observing Jake and his friends that manhood and insecurity are linked sometimes unfairly

Brave And Confident Odysseus - Free Essay Example

Sample details Pages: 2 Words: 473 Downloads: 2 Date added: 2019/04/01 Category Literature Essay Level High school Tags: Odyssey Essay Did you like this example? In the novel, â€Å"The Odyssey,† the author Homer wants us to understand that Odysseus uses strong leadership to overcome challenges and save his crew. Throughout the book, Odysseus’ main goal was to get himself and his crew mates back to Troy, their home land. Odysseus attempted to achieve this by being an effective leader that was determined and committed to leading his crew mates to survival. One example of when Odysseus used strong leadership to save his crew was when they were on the land of the Lotus eaters and his men consumed the intoxicating and distracting Lotus. For instance, the novel states, â€Å"I drove them, all three wailing, to the ships,/ tied them down under their rowing benches,/ and called the rest: All hands aboard;/ come, clear the beach and no one taste/ the Lotus, or you lose your hope of home† (IX. 106-110). Don’t waste time! Our writers will create an original "Brave And Confident Odysseus" essay for you Create order Homer uses the words â€Å"drove them† and â€Å"tied them down† to describe Odysseus’ actions as a strong leader. Odysseus purposely forces his crew mates to leave the island and stop consuming the lotus so they would continue their journey and not just give up their memory of family and home. This correlates with Odysseus using strong leadership as he was responsible by guiding his men away from the harmful and toxic lotus, which at the end saved his men and helped them overcome a challenging obstacle. As the novel unfolds Homer demonstrates that Odysseus’ character develops as a stronger leader since he learns to make his crews survival a priority no matter the situation. Another example of when Odysseus uses strong leadership to help rescue his crew was when they got trapped in the Cyclopss cave. For example, in the book it states, â€Å"My name is Nohbdy: mother, father, and friends,/ everyone calls me Nohbdy†¦ Drunk, hiccuping,/ took him like any creature of liquor and bits of men./ Now, by the gods, I drove my big hand spike/ deep in the embers, charing it again,/ and cheered my men along with battle talk/ to keep their courage up: no quitting now.† (IX. 397-398 and 404-409). Homer uses the words, â€Å"courage† and â€Å"cheered my men† to show that Odysseus remains confident and is able to encourage his men to keep fighting in the difficult situation. In this situation, Odysseus’ quick thinking allowed him to trick the Cyclops and create a plan to escape the cave which ended up saving all of his companions from certain death with the Cyclops. This refers to how Odysseus used strong leadership to save his crew when they were in danger with the Cyclops as his wise planning and determination encouraged his men and ended up saving them from potentially dying. Overall, Homer portrays many examples throughout the book supporting the idea that Odysseus uses strong leadership to overcome challenges and save his crew.

Snowstorm Lawsuit - 2055 Words

The Snow Storm Lawsuit Strayer University Identify and explain at least three legal considerations. The first legal consideration in this case is related to corporate liability. The hospital itself is negligent under this doctrine. Corporate negligence is the failure to provide the equipment, facilities, and staff to carry out the duties of the corporation in accordance with the established standard of conduct (Showalter, 2007). Corporate negligence is evident in this case in regard to the failure to ensure that sufficient healthcare personnel were available to provide the established standard of care to the patients in the facility. Moreover, the personnel that were required to remain at the hospital from the day shift were likely†¦show more content†¦Therefore, an increased incidence of falls and resulting injury are a foreseeable result of the staffing shortage. Identify and explain three ethical considerations. Leaders in healthcare organizations are often faced with a variety of ethical issues. Ethical considerations will be discussed from a leadership perspective. The ethical considerations related to this case are the responsibility to patients, responsibility to employees, and responsibility to the organization. Responsibilities to patients includes providing quality care that meets established standards, ensuring there are mechanisms in place to monitor and evaluate the performance of healthcare personnel, hiring and retaining competent professional staff that meet licensing and accreditation standards, and consistently reviewing, researching, and implementing evidence-based practices. This case fails to demonstrate ethical conduct in terms of responsibilities to patients specifically in regard to staffing, which, in turn affects quality of care. Responsibilities to employees include providing an adequate and safe work environment, ens uring that employees are equipped with equipment, facilities, and sufficient staff to perform their duties within the established standards of care, promoting the appropriate use of employee’s knowledge and skills, and providing a mechanism for employees to voice ethical concerns. This case fails to meet this ethical standard as evidenced by not providing sufficientShow MoreRelatedA Case Study of the Washington Hospital Center1328 Words   |  5 PagesAn overview of the case Washington DCs largest private hospital fired a total of 11 nurses as well as 5 support staff members who had failed to go to work at time when the back-to-back snowstorms that rocked and paralyzed the operations in the region. Several more members of the Washington Hospital Center also faced internal investigations and it was originally not clear how many employees would lose their jobs. This prompted the Nurses United of the National Capital Region to file a class-actionRead MoreThe Entertainment Of Caesars Entertainment875 Words   |  4 Pagesproper analysis) Strengths Weaknesses -Strong presence in casino entertainment market -Offers distinct competitive advantages -Large scale operations -Wide customer Base -Diversified geographical presence -Limited financial leverage -Bankruptcy -Lawsuits -Experience Opportunities Threats -Growth in US travel and tourism -Strong growth in international casino industry -Strategic growth initiatives -Intense competition -Regulatory compliance -Unforeseen Circumstances a. Strengths Opportunities –Read MoreThe Case of Lost Labor674 Words   |  3 Pagesï » ¿Lost Labor There were several charges of inequity and injustice that occupied an incident in the late winter of 2010 at Washington Hospital Center, located within the District of Columbia. Following a considerable snowstorm, which many dubbed a blizzard and which was reported to have deposited as much as 40 inches of snow on the ground between February 5 and February 11, 11 nurses and five additional staff members were terminated for failing to attend their work at the hospital due to the intemperateRead MoreNorthwest Airlines1613 Words   |  7 PagesSub : Northwest Airlines and the Detroit Snowstorm Analysis in January’1999. ------------------------------------------------- Date : March 17, 2014 The incident involving the Detroit snowstorm and Northwest Airlines is the quintessential of a failure to deliver a â€Å"Now youre flying smart experience for our travelers. The course of events detail the experience of travelers, mis-calculated decisions by the ground staff and the lack of an effective emergency response plan that should have beenRead MoreJetblue Airways And The Airline Industry2421 Words   |  10 Pagesbeen lawsuit many times in airline career, such as: landing unscheduled flight in Amarillo, or the flight was coarse and safely landing. And Jetblue were under investigation by the FTC (Federal Trade Commission), for how they use and secure passenger person information. In this paper i will tell you about some one the lawsuit, and what kinds of issues they have. As in Article â€Å"JetBlue settles pilot meltdown lawsuit† By Jim McBride, JetBule and Passengers are settled to a negligence lawsuit becauseRead MoreHer Rebellious Actions Brought Excellence : Mary Church Terrell Essay1365 Words   |  6 Pagesissue into a lawsuit that demanded all the restaurants in Washington to serve anyone regardless of skin color (Mary Church Terrell Biography). 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A Report on Child Labor Free Essays

The reaction of a typical citizen of a western state to child labor is generally one of disgust. They dream up images of a shoe factory in South Eastern Asia with hundreds of children stooped over sewing machines slaving their youth away. Instead of going to school or playing these children are locked in dangerous workshops, paid barely enough to survive. We will write a custom essay sample on A Report on Child Labor or any similar topic only for you Order Now The truth of the matter is quite different. The average westerner does not realize that most often child laborers are working alongside their parents on small, family owned pieces of land. They are not tortured by a mean overseer, but rather surrounded by family and friends. My intent is not to paint a glowing picture or to diminish the fact that children would be better off in schools, but we must be realistic. Generally life for the child laborer is not as bad as many imagine and frequently their hard work is the difference from their family thriving and their family starving. Not only that, but when they work in the export-manufacturing sector of the economy their labor can fuel future growth of the economy, preventing their children or grandchildren from having to work in factories. This is not to say that we should do nothing to help child laborers, but rather that we should focus our aid in areas other than merely restricting the importation of items produced by them. We need to turn to more creative devices that will focus on improving the education and opportunity for education rather trying to focus on blindly banning child labor. In short, child labor is not the purely evil institution many feel it is and can even be useful in developing third world economies. At the same time we should still try to attempt to do more to develop those economies in order to not only end child labor but also to reduce all the forms of suffering which go on in the third world. Before examining child labor abroad we should look at it here in the United States. Throughout much of our country we employ thousands of, frequently illegal, immigrant laborers to work on farms producing our nation†s food supply. These laborers most often work in family units, with children working the fields side by side with their parents. When pesticides are used farm workers are often not warned or given insufficient warning to prevent their exposure to these dangerous chemicals. The result is that here in America, there exists a large number of children who work rather than going to school and while working are exposed to conditions similar or worse than that of third world factories. Little of this is done beyond the limits of the law. Agriculture has been granted many perks in labor law that would seem absurd in other sectors of the economy, despite the hazards involved in this type of work. All age limits imposed on other types of labor are reduced in agriculture. Outside agriculture 13 and 14 year old children cannot work more than three hours a day during a school week. These restrictions do not exist for farm workers; instead children from the age of 12 can work full days as long as they have their parents† consent. Even ten and eleven year olds can work as long as it is during short seasonal harvests, but they require special permission from the Department of Labor. Even these minimal restrictions can be avoided as many of these laborers do not speak English, do not know their rights, and are generally afraid of going to the authorities for fear of being deported from the country. Workers endure this system for an estimated average annual income of $7,500, a rate few Americans would be willing to accept. They are paid poorly, the rights they don†t know exist are abused, they are exposed to pesticides, and their children are not given the opportunity to get an education. This makes one wonder why they even come here. The answer is that the money they earn here is better than what they would make at home. Despite the abuse they suffer, it is worth it for the amount they get paid. Not only that, but here their labor is somewhat regulated by the government. Conversely, in Mexico regulation is often relaxed or nonexistent. It is better for children to work here where they at least are protected, even if minimally, than in Mexico where the same is not true. While working here they are able to send or take money home and support relatives. Evidence throughout the world has proven that when the opportunity for education is low or when the schools in an area are poor, the rate of children working is high. With this in mind we should work to improve education in Mexico. The family members supported by their farm-working relatives would be able to educate their children. This, in turn, would improve the economy in future years, making it no longer worthwhile to come to the United States to work. Better education in Mexico could make migrant farm workers in the United States a major source of growth for the Mexican economy. Internationally the situation is frequently similar. Eighty percent of child laborers abroad work in agriculture. Only eight percent of children work in manufacturing and of those only five percent manufacture items for export. This leaves a very small number of children worldwide that we can have much of an effect on through import restrictions. What we should do is try to limit the reasons that children work abroad, not just the demand for their labor. If a family will starve without the work of their children our efforts should be focused on increasing the wages their parents receive. The best way to do this is improving their level of education. It is too late to achieve this for the current generation, but we can use the labor of some children to improve the education of others to help future generations. Organizations like Rugmark, Kaleen, and Care Fare are excellent examples of where international efforts should be focused. Essentially they take funds from the sale of each rug sold internationally and invest those funds in schools and hospitals for children in the country in which the rugs were made. Organizations like Rugmark focus on banning child labor from the carpet making industry but that is not necessary. As long as they collect money from the sale of carpets they are able to improve the economy. With those funds they can invest in education for the rest of society. Taking children from the carpet making industry will only move them into other, unregulated industries that could be more dangerous and detrimental to their development. Using organizations like Rugmark and Kaleen would be improving the economy on the backs of children, but perhaps this is a price we must pay for improvement. One other problem in the third world that deserves examination is that of children working when their parents do not. There is a high correlation in South Asia between child labor and adult unemployment. The reason for this is not definite, but one can only assume that it is due to either the parents not wanting to work or employers preferring children to adults. It is known that employers frequently rather have children in their shops as they complain less and are more pliable. If they are unwilling to employ adults in they factories, then this is a matter for the governments of those states. They must enact and strictly enforce laws ensuring that children are not working in their parents place. It is one thing for a child to work in order to feed their family, but another because the parents are too lazy or an employer to greedy to hire them. Education could still be a force to decrease child labor here. As child labor is high when educational opportunity is low, the mere act of building a school and hiring good teachers could do much to decrease child labor in the near future. Parents might decide that if their children could get a good education and live a better life, that they should work instead of their children. The main idea of what has been outlined above is that the best tool for reducing child labor is education. This is an investment, and as such the rewards may not be reaped for decades, but it is still worth the effort. We should use education, even if it must be funded or supported by the work of children, to improve the economies of countries dependent upon child labor. This is a pragmatic solution and one that is not beautiful, but if we were to merely ban importation of items produced by children we would in effect be cutting off our collective nose despite our face. Without educational opportunities in third world states children not working will only be street children, doing nothing with their time. We should also not be unwilling to encourage cultural change when it allows parents to stay home and do nothing while their children labor away in factories. Education is not a creative solution to the problem of child labor, but it is really the best tool we have to save future generations from suffering. How to cite A Report on Child Labor, Papers

Newton PLC Finance & Financial Management

Questions: 1. Capital Expenditure Decision and Investment Criteria Newton plc The board of directors of Newton plc has to decide whether or not to invest in a manufacturing plant to produce a new product that has been developed on the basis of research undertaken within the company. The development of the product has been expensive and at a cost of 2.00 million has significantly exceeded the initial budget allocation for the product. One member of the board has argued that the company should not proceed with the investment as it is most unlikely that it will be able to recover what has already been spent on the product. The marketing department has suggested that the product should be sold at 14.00 per unit and it is anticipated that sales in the first year will be about 400,000 units, rising to 600,000 in year two. Sales are expected to remain at this level for the following three years and fall to 300,000 units in year six. It is thought that the product is unlikely to be competitive after six years given the rate of product innovation in the sector, and it will be withdrawn from the market at this stage. To manufacture the product an investment of 9.00 million will be necessary in new production facilities. This expenditure can be written off for tax purposes using a 25 per cent writing down allowance. The re-sale value of the equipment has been estimated to be about 2.50 million at the end of the six year anticipated product life. Use will also be made of some equipment the company already owns. This equipment is now fully depreciated for tax purposes, but would be sold today for 1.20 million. If used in the manufacture of the product its value expected to fall to 0.30 million by the end of year six. The production facility will be located in one of the companys factories that is not being fully utilised. The company has no alternative uses available for this space that is currently being rented out to another manufacturer for 80,000 per annum. The product will be charged 40,000 per annum for the space it utilises through the companys internal budgetary system. The fixed costs associated with the production are expected to be 250,000 per annum. Each product sold by the company is also allocated by the companys accountant an overhead charge of 5 per cent of the revenues it generates to cover head office expenses. The direct manufacturing costs are expected to be 7.00 per unit. The company will need to hold stocks of the final product at the start of each year equivalent to 20 per cent of the sales expected in the next year and also stocks of materials and components equivalent to 20 per cent of the production expected in the next year. The materials and components account for 4.00 per unit out of the 7.00 overall direct cost per unit. The increase in debtors as a result of introducing the product will be offset by the increase in creditors. The company requires a rate of return of 12 per cent on investments of this nature, and the tax rate is 25 per cent. a) Determine the investments net present value, the internal rate of return, payback period and discounted payback period. All key assumptions should be specified and explained very carefully.b) Interpret the NPV, IRR, payback period and discounted payback period, using the results of your evaluation of Newtons proposed investment to illustrate your answer. 2. Valuation of a Companys Shares Take the price earnings ratios for three companies traded on the London Stock Exchange from the data set given in the attached file. These companies are drawn from the FT 100, the hundred largest companies traded on the exchange, and the P/E ratios specified are for the end of each year from 2007 to 2013. The data also gives the P/E ratios for the index. Discuss the factors that might explain the differences in the price earnings ratios of the three companies you have chosen and the changes that have occurred in their price earnings ratios over the six year period. (Choose companies with a range of P/E ratios to give you one with a relatively low value, one with a relatively high value, and another with a middling value.) You should use the insights provided by valuation models on the determinants of the price-earnings ratios in your discussion, but you should also discuss the role of any other factors that might influence the reported values of price-earnings ratios of the companies you have chosen. Whilst you need to gather some information on the companies you choose it is not anticipated that you undertake an in-depth analysis of the companies. It is acceptable to make use of some possible reasons to account for the differences in the price earnings ratios as well as employing the information that you gather on the companies. 3. Rights Issue Barclays announced on July30 2013 that the company would make a rights issue in September of the same year. The rights issue was planned to raise approximately 5.8 billion, with the shareholders being offered one new share at a subscription price of 1.85 for every four shares they were holding. The total number of shares to be issued was 3,216,893,546, equivalent to twenty five per cent of the shares outstanding at the time of the announcement. The share price immediately prior to the announcement was 3.095 and this fell to 2.93 when the issue was announced, a fall of 5.3 per cent. The announcement of a rights issue did not surprise the market, but the size of the issue was larger than anticipated. The issue was the 4th largest issue ever made by a bank. The issue was designed to help the bank meet a requirement that Barclays increased the ratio of its risk capital to its assets to 3 per cent and at the time Barclays had a shortfall of 12.8 billion in its risk capital given the value of its assets. Other measures were also announced at the same time to explain how Barclays intended to cover the deficit. (Google Barclays rights issue 2013 to gain access to the press coverage of the announcement.) a) Explain and discuss the rationale provided for the rights issue. In answering the question take into account the financial performance and position of Barclays Bank at the time of the issue.b) Specify the terms of the issue, the anticipated ex-rights price and calculate the value of a right. Utilise the price just prior to the announcement to undertake your calculations.c) Demonstrate that an investor will in principle be equally well off from investing in the issue or selling the rights they have been allocated.d) Identify and comment on the markets reaction to the announcement of the issue. Can the price pressure hypothesis account for the markets reaction or does the information hypothesis provide a better basis for interpreting the reaction? 4. The attached file (Stock returns 2007- 13) gives 84 monthly returns for securities drawn from the FT ALL Share Index for the period January 2007 and December 2013. a) i. The data set provided identifies four equally weighted portfolios of one, five, ten, and fifteen securities. Determine, using the appropriate Excel function (see fx)) the standard deviation and variances of the monthly returns for each of the companies included in the portfolios. (Use the 84 months returns data in the calculations and use the Excel functions identified as Variance.P and Standard Deviation P.)Next determine the monthly returns on the four portfolios along with the standard deviation of these returns. The monthly portfolio returns are simply the average of the monthly returns for each security included in the portfolio.Compare the average value of the standard deviations of the returns on the securities included in each portfolio with the standard deviation of portfolios returns. Comment on the difference between the outcomes.Discuss the consequences of increasing the number of securities in the portfolios. Compare your results to those of the studies of nave div ersification.ii. Determine the variance of each security and the co-variances for each pair of securities in the portfolio of five securities using the relevant Excel function. Employ this information to calculate the standard deviation of the returns on the portfolio using the equally weighted portfolio risk equation. Compare your results to those obtained for the portfolio in part i above.b) Determine the betas for SSE (Scottish and Southern Energy), a utility company, and BarrattDevelopments, a construction company, by regressing the returns for each of the two companies on the returns for the FT ALL Share Index (the first column in the spread-sheet).i) Explain what the values of the betas (the slope coefficients in the regression) indicate and discuss the factors that might explain the differences in the values of the betas of the two companies.ii) Comment on the implications of the estimated value of beta for investors and the cost of capital for the two companies Answers: 1. According to all the board members of Newton PLC and the board of directors of Newton PLC, the development cost of the company cannot be recuperated. The amount of money spent by the management of the Newton PLC will be failed to recover. This is because the theory of agency, which causes the separation among the management of the organization, and the owner of the organization control the management of the organization (Balla, 2012). This makes a problem among the objectives of the directors of the organization and the main objectives of the company set by the management of the company. This will also hamper the performance of the organization in the market. This may also hamper the market share price of the company which may effect on the stake holders of the company and also to their share holders of the company present in the market (Davies and Crawford, 2012). While developing a new product for the company, the management of the company has considered a cost for the new product of the company, which is financially known as the sunk cost. If the management of the company has problem with the sunk cost then the management of the Newton PLC Company cannot develop their new product in the market which will hamper the goodwill of the company in the market (Edmonds, et al, 2013). This will also effect on the wealth of the share holders of the company in the market. Calculation is given on the appendix part: The assumptions are discussed in the following points For the development of the new product in the company, the management of the organization has considered 2 million as the sunk cost. During inflation, the price of the raw materials and the other components used for developing the new products are high. So, it has been observed that the selling price of the product is less than the cost price of the newly developed product of the company. Assuming all the prices and the estimated prices of the newly developed product are accurate (Harrison, et al, 2013). All the tax rates and the rate of return are considered as the constant rate. The rate of inflation during the completion of the project is constant. All the cash flows are considered as the nominal rate. The business risk are treated as the financial risk involved in the organization. It will bring a positive impact on the net working capital of the company. The opportunity cost of the newly developed by the management of the company is 80K and the management of the company has decided to allocate around 40K as the financial cost of the product to develop the product in the market. The incremental cost of the company is around 250 thousand, which is treated as the overhead cost of the newly developed product. The depreciation amount has been deducted from the calculation part of NPV and the amount of capital allowances has been included in the NPV calculation. This is because the amount of depreciation has been excluded as depreciation is a part of non-cash items. Net Present Value (NPV) From the calculation, it can be concluded that the net present value of the project is 6.899 million. This shows that the net present value is positive which means that the cash out flow for the project is lower than the cash inflow from the project (Horngren, et al, 2012). On the basis of cash flow, the NPV of a project has been calculated. NPV helps to understand the value of money as compared with time. NPV helps the management of the company to take decision whether to invest on a particular project or not. Internal Rate of Return (IRR) The meaning of internal rate of return is the return rate, which helps us to find out the zero return rates to calculate the NPV value of project. From the above calculation, it has been concluded that the discounted rate of NPV is around 15 % and the 15 % discounted rate is a positive rate, which gives a positive NPV for the project. Therefore, from the above calculation it can be stated that the discounted rate of IRR should be greater than 15 % (Kemp and Waybright, 2013). This method of IRR helps us to calculate the proposal of the investment whether to accept the project or not. This method of IRR helps us to compare among the other projects and to decide which project is appropriate to invest by the company. Payback Period: The payback period of the project is calculated and the results of the payback period are between the 2nd year and the 3rd year. This payback period of the project helps us to calculate that in how much time we can recover the amount of money invested initially in the project and found that the in between the 2nd year and the 3rd year, the initial investment can be recovered. Discounted Payback Period: From the above calculation, it has been observed that in between 3rd year and 4th year of the project life lies the discounted payback period. This discounted payback period will help to fid out the value of money with respect to time. Appendix: Appendix to answer of Q 1: Sale price per unit 14 direct cost -7 Contribution 7 000 T0 T1 T2 T3 T4 T5 T6 Unit sale - 400,000 600,000 600,000 600,000 600,000 300,000 Revenue - 5,600 8,400 8,400 8,400 8,400 4,200 Cost of goods sold - (2,800) (4,200) (4,200) (4,200) (4,200) (2,100) Contribution - 2,800 4,200 4,200 4,200 4,200 2,100 Initial Investment (9,000) Scrap 2,500 opportunity cost "rent" - (80) (80) (80) (80) (80) (80) Fixed cost associated - (250) (250) (250) (250) (250) (250) Used equipment (1,200) 300 Net WC (880) (440) - - - 660 660 Taxation 300 (141) (558) (634) (691) (734) (704) Add Depreciation - 1,625 1,219 914 686 514 1,542 CF (10,780) 3,514 4,531 4,150 3,864 4,310 6,068 I = 12% (factor) 1.000 0.893 0.797 0.712 0.636 0.567 0.507 PV (10,780) 3,137 3,612 2,954 2,456 2,446 3,074 NPV 6,899 accept the project because it has positive NPV that means the shareholder wealth maximization I = 15% (factor) 1.000 0.870 0.756 0.658 0.572 0.497 0.432 PV (10,780) 3,055 3,426 2,729 2,210 2,143 2,623 NPV 5,406 accept the project because it has positive NPV that means the shareholder wealth maximization IRR is more than 15% where the project NPV will be zero Pay back between year 2 and 3 Discounted pay back between year 3 and 4 Tax working T0 T1 T2 T3 T4 T5 T6 Scrap value 2500 Contribution - 2,800 4,200 4,200 4,200 4,200 2,100 Tax = account dep. - (1,625) (1,219) (914) (686) (514) (1,542) Fixed cost associated - (250) (250) (250) (250) (250) (250) opportunity cost "rent" - (80) (80) (80) (80) (80) (80) Used equipment (1,200) - - - - - 300 Overhead 0 (280.00) (420.00) (420.00) (420.00) (420.00) (210.00) Taxable income (1,200) 565 2,231 2,536 2,764 2,936 2,818 Taxation @ 25% 300.00 (141.25) (557.81) (633.98) (691.11) (733.96) (704.38) Depreciation working on the 25% reducing balance T0 6,500 T1 4,875 (1,625) T2 3,656 (1,219) T3 2,742 (914) T4 2,057 (686) T5 1,542 (514) T6 (1,542) Working Capital T0 T1 T2 T3 T4 T5 T6 300,00 Unit sale - 400,000 600,000 600,000 600,000 600,000 0 20% Final product 80,000 120,000 120,000 120,000 120,000 60,000 Direct cost price 7 7 7 7 7 7 Product Cost (A) 560 840 840 840 840 420 - 20% Material 80,000 120,000 120,000 120,000 120,000 60,000 Material price 4 4 4 4 4 4 Material Cost (B) 320 480 480 480 480 240 - Working capital 880 1,320 1,320 1,320 1,320 660 - Net WC (880) (440) - - - 660 660 2. Company selection: Tullow oil has the highest P/E ratio among all the hundred companies in 2010. However, in 2009 Vodafone group has the lowest P/E ratio. Adequate value we have selected for the Ashtead group. P/E ratio and earnings per share (EPS) considered using the following: P/E ratio: Current market price/Earnings per share Earnings per share (EPS): Net income- dividends preferred stock/average outstanding shares The differences between the three companies can explain the factors those are following: A. Due to the dramatic decreasing on EPS from 16.3 in 2009 to 5.51 in 2010, Tullow oil has the highest PE ratio in 2010. The declining results in EPS that affected in the financial statements in 2010. It is not so important for the financial statements, that market share price was higher in 2010 rather than in 2009. The Fluctuation in P/E ratio in 2010 has indicated that the EPS was the important factor by considering the market price in 2009. According to the annual report of the company, we can see that the profit of the company has drastically changed and decreased vigorously in 2009 compared to 2010 (Needles and Powers, 2012). In the financial statements, the issue of the shares is included as per the given standard of the financial statements. Therefore, the price and the issue of shares dramatically changed in the year 2010. For this, the P/E ratio has been increase and the EPS has fallen down drastically. B. the Vodafone group has the lowest P/E ratio in 2009 as mentioned above in the case study. In the previous year that is in 2009, the P/E ratio has decreased. In 2008, when market price was lower, the P/E ratio was higher than in 2009 while the market share price was higher in 2009 when the P/E ratio was lower. The market share price and the EPS are the factors that are influenced the P/E ratio. The increase on the market share price has a significant influence on the increasing earnings per share. Due to increase in the company profits compared to the other profits of 2008, EPS are increasing. To reduce the capital the company is repurchasing their shares from the market. From the Vodafones annual profit, we can see that they made profits in 2009 that of half already made in 2008. Due to the redemption of shares, the profit was half the EPS increased. With the increasing market share, the company can improve their performance in the international market so that they can improve the ir financial statements by showing the companys profit in it. C. In the year 2010, the three companies that selected Ashtead group has almost middle P/E ratio, which is 91. In 2009, the P/E ratio is 81 due to the market share price. The share prices are double in 2010, which are 172.9. It is happening due to the decline in the companys profit. Comparing to the previous year, the capital of the company is use to expand their business activities in the international market (Scott, 2012). Due to the increasing ratio of the market share, the company can increase their price earnings ratio that clearly states that if the company wants to make profit then they should increase their market share in the business activities. At an average price of 23p per share under share, option plans the ordinary shares re-issued out of treasury. The ESOT purchased 491,513 shares at a total cost of 0.4m and 8247,172 shares held in treasury were canceling during the year of the companies purchased shares, which held in treasury. Problems with P/E ratios: Due to the different accounting period, the P/E ratio can be deceptive as per the case of our selected companies. The company should clearly states their financial position so that due to different accounting period it cannot hamper the companys financial position in the market. Interpretation of financial results can be misleading in the case of the P/E ratio. When the company is already, declare their dividends for the stock market the company can improve their performance. Sometimes it is very difficult to compare the companys different business modules, products and different growth capabilities with the other companies in the market (Shim, et al, 2012). However, the calculation of the P/E ratios can be accurate but it can create problem when calculating the different business modules of the different companies. 3. The following are the three decisions taken by the manager of finance in an organization to improve the financial condition of the company: The capital of the organization should be raised to increase the capital funds of the company. This will help the organization to improve the level of optimization of the organization. If the value of NPV is positive, the finance manager of the organization should invest in that particular project. The finance manager of an organization should give dividend to their share holders in the market to attract more share holders for the organization (Weygandt, et al, 2012). The reasons why the organizations needs to increase their funds: To expand the business of the organization, the finance manager of the organization should invest money in projects. The finance manager of the company should increase the optimal level. If the share price of the company is high, the finance manager of the organization should split their shares in the market. The finance manager of every organization should take some responsibilities to raise their funds in the organization to minimize the risk involved in the project and to have a better capital structure of the organization. In the case of Barclay Bank, the reducing level of the organization should maintain in the market to help the management of the bank to increase the optimal structure. In the scenario of Barclay Bank, it has been observed that the management of the Barclay bank wants to minimize the gearing ratio of the organization to reduce all types risks associated in the organization which will help the management of the Barclay Bank to perform better performance in the market. The management of the Barclay Bank has decided to issue new shares in the market which will help them to increase the funds of the organization. This will also attract more investors towards the organization. Usually, most of the organization can raise their funds by issuing shares in the market through IPO (Williams, 2012). b) The management of the Barclay Bank has announced that they are offering a discount on their right issues. The price of the right issue of the Barclay Bank is 3.095 and they are giving a 40 % discount on the right issues of the Barclay Banks. Value of the right issue = price of theoretical value price of subscription In this case, 0.99 is the per right option. c) The investors can sell all the right shares of the Barclay Bank that can be illustrate as 400 shares. d) After the calculation, it can be concluded that the Barclay Bank are giving an extra discount to the original price of their shares. The discounted rate of the Barclay Bank is 8 %. But in the market, the management of the Bank are giving only 5 % discount on the original price of the shares. The price of the Bank will fall, if the market is efficient. Appendix: Barclays The right issue in 2013 Step 1: P0= 3.095 Ps= 1.85 number of existing number of share 12,867,934,184 number of new share to be issue 3,216,983,546 number of new share after right issue 16,084,917,730 the share price fall to 2.93 by % -5% value of the company before issue 39,826,256,299 amount to be raised 5,800,000,000 Step 2: to raise 5.8b we need to issue at least 3,135,135,135 Step 3: 12,867,934,184 3,216,983,546 4 which is 25% of the existing share 1 Step 4: Theoretical price after right issue 2.84 by % -8% Step 5: the value of the right option 0.99 theoretically no change in the wealth 1,238.00 assuming 400 shares If subscribe the issue 1,418.29 -185 1,233.29 -4.71 sell the issue 400 share 1,134.63 proceed of selling right 98.66 1,233.29 4.707 Reference List: Balla, D. (2012). CLEP financial accounting. Piscataway, NJ.: Research Education Association. Davies, T. and Crawford, I. (2012). Financial accounting. Harlow, England: Pearson. Edmonds, T., McNair, F. and Olds, P. (2013). Fundamental financial accounting concepts. New York, NY: McGraw-Hill/Irwin. Harrison, W., Horngren, C. and Thomas, C. (2013). Financial accounting. Boston: Pearson. Horngren, C., Harrison, W. and Oliver, M. (2012). Accounting. Upper Saddle River, N.J.: Pearson Prentice Hall. Horngren, C., Harrison, W. and Oliver, M. (2012). Financial managerial accounting. Upper Saddle River, N.J.: Pearson Prentice Hall. Kemp, R. and Waybright, J. (2013). Financial accounting. Boston: Pearson. Needles, B. and Powers, M. (2012). Financial accounting. Mason, OH: South-Western Cengage Learning. Scott, W. (2012). Financial accounting theory. Toronto: Pearson Prentice Hall. Shim, J., Siegel, J. and Shim, J. (2012). Financial accounting. New York: McGraw-Hill. Weygandt, J., Kieso, D. and Kimmel, P. (2012). Financial accounting. Hoboken, N.J.: Wiley. Williams, J. (2012). Financial accounting. New York: McGraw-Hill/Irwin.