Income Statement With Owners Equity Stand -Myassignmenthelp.Com

Question: Discuss About The Income Statement With Owners Equity Stand? Answer: Introducation As evident from the above stated income statement it can be said that the net profit that has been transferred to capital accounting stood 7285. Cash Budget for the period 2018 Particulars Quarter 1 Quarter 2 Quarter 3 Quarter 4 Opening Balance 600 3533.75 5467.5 6401.25 Receipts Cash Receipts 3500 2500 1500 2500 Total 4100 6033 6967 8901 Expenses Overheads 275 275 275 275 Selling Expense 291.25 291.25 291.25 291.25 Total 566 566 566 566 Closing Balance 3533 5467 6401 8335 Cash receipts for the first year = 50*70 = 3500 Cash receipts for the Second quarter = 50*50 = 2500 Cash receipts for the Third quarter = 50*30 = 1500 Cash receipts for the Fourth quarter = 50*50 = 2500 Opening Balance = Opening Balance Closing Balance The closing amount of cash budget at the end of the fourth quarter stood 8335. Julia Schlussier Co Balance Sheet January 31-12-2018 Assets Amount () Amount () Current Assets Cash 8335 Prepaid Insurance 260 Prepaid Road Tax 120 Total Current Assets 8715 Non-Current Assets Tangible Assets Scooter 1500 Less: Depreciation 300 1200 Photo Camera 2500 Less: Depreciation 500 2000 Computer 1600 Less: Depreciation 400 1200 Intangible Assets Software 800 Less: Depreciation 200 600 Total Non-current Assets 5000 Total Assets 13715 Liabilities and stockholder Equity Current Liabilities Current portion of Parents loan 400 Total Current Liability 400 Long-Term Liabilities Parents Loan 1600 Less: Repayment 400 1200 Total Liabilities 2000 Stockholders Equity 2850 Net Profit (tranferred from P/L A/c) 7665 Total Liabilities and Stockholders Equity 13715 As evident from the balance sheet, that Julia Co has the equal balance of the total assets and total liabilities. The net profit has been transferred to balance sheet from the income statement with owners equity standing 3230. References Deegan, C. (2013). Financial accounting theory. McGraw-Hill Education Australia. Edwards, J. R. (2013).A History of Financial Accounting (RLE Accounting)(Vol. 29). Routledge. Weil, R. L., Schipper, K., Francis, J. (2013).Financial accounting: an introduction to concepts, methods and uses. Cengage Learning. Williams, J. (2014).Financial accounting. McGraw-Hill Higher Education.

Sbi Change Management free essay sample

Change is inequitable; not a respecter of persons. Change is for the better or for the worst, depending on where you view it. Change has an adjustment period, which varies on the individual. It is uncomfortable, for changing from one state to the next upsets our control over outcomes. Change has a ripping effect on those who won’t let go. Change is awkward at first. Change is a muscle that develops to abundantly enjoy the dynamics of the life set before us. Change calls own strength beyond anyone of us. Change pushes you to do your personal best. Change draws out those poised for a new way. Change isn’t for chickens. Change does have casualties of those defeated. Change will cause us to churn or to learn. Change changes the speed of time. Time is so slow for the reluctant, and yet it is a whirlwind for those who embrace it. Change is more fun to do than to be done to. Change seeks a better place at the end and is complete when you realize you are different. Change Management: Change management is a set of processes that is employed to ensure that significant changes are implemented in an orderly, controlled and systematic fashion to effect organizational change. One of the goals of change management is with regards to the human aspects of overcoming resistance to change in order for organizational members to buy into change and achieve the organizations goal of an orderly and effective transformation. Organizational change management takes into consideration both the processes and tools that managers use to make changes at an organizational level. Most organizations want change implemented with the least resistance and with the most buy-in as possible. For this to occur, change must be applied with a structured approach so that transition from one type of behavior to another organization wide will be smooth. SBI: State Bank of India is the largest state-owned banking and financial services company in India, by almost every parameter revenues, profits, assets, market capitalization, etc. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. The Government of India nationalised the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the Government took over the stake held by the Reserve Bank of India. SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at NRIs. The State Bank Group, with over 16,000 branches, has the largest banking branch network in India. With an asset base of $260 billion and $195 billion in deposits, it is a banking behemoth. It has a market share among Indian commercial banks of about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nations loans. * The State bank of India is the 29th most reputed company in the world according to Forbes. * State Bank of India is the largest of the Big Four Banks of India, along with ICICI Bank, Axis Bank and HDFC Bank — its main competitors. Change Trigger: Liberalisation of the Indian Banking system: During the 1990s, the Indian economy began a period of rapid growth as the countrys low labor costs, intellectual capital, and improving telecommunications technology allowed India to offer its commercial services on a global basis. This growth was also aided by the governments decision to allow the creation of private-sector banks (they had been nationalized in the 1960s) Private sector banks made their first appearance in January 1993. The private-sector banks, such as ICICI Bank and HDFC Bank, altered the banking landscape in India. Core banking systems and electronic delivery channels that allowed these banks to introduce new products and provide greater convenience to customers acted as a hurdle for the PSBs. During that period, Public Sector Banks accounted for over three-fourths of total banking industry assets. They were weighed down with huge NPAs(Non-Performing Assets), falling revenues, lack of modern technology and a massive and highly unionized workforce. New entrants began to erode the market share of the nationalized banks, especially in metro cities and urban areas. The PSBs found it increasingly difficult to compete with the new private sector banks and the foreign banks. These banks also employed state-of-the-art technology, which helped them to save on manpower costs and concentrate on providing better service. Changes in SBI: Drivers for a New Core System Though SBI had undertaken a massive computerization effort in the 1990s to automate all of its branches, implementing a highly customized version of Kindle Banking Systems Bankmaster core banking system (now owned by Misys). However, because of the banks historic use of local processing and the lack of reliable telecommunications in some areas, it deployed a distributed system with operations located at each branch. Although the computerization improved the efficiency and accuracy of the branches, the local implementation restricted customers use to their local branches and inhibited the introduction of new banking products and centralization of operations functions. The local implementation prevented the bank from easily gaining a single view of corporate accounts, and management lacked readily available information needed for decision making and strategic planning. The advantages in products and efficiency of the private-sector banks became increasing evident in the late 1990s as SBI (and Indias other public-sector banks) lost existing customers and could not attract the rapidly growing middle market in India. In fact, this technology-savvy market segment viewed the public-sector banks as technology laggards that could not meet their banking needs. In 2002, SBI adopted a new technology that included the implementation of a new centralized core banking system. This effort encompasses the largest 3,300 branches of the bank that were located in city and suburban areas. The State Bank of Indias objectives for its project to modernize core systems included: †¢ The delivery of new product capabilities to all customers, including those in rural areas †¢ The unification of processes across the bank to realize operational efficiencies and improve customer service. Provision of a single customer view of all accounts †¢ The ability to merge the affiliate banks into SBI †¢ Support for all SBI existing products †¢ Reduced customer wait times in branches †¢ Reversal of the customer attrition trend Challenges for the bank: The bank faced several extraordinary challenges in implementing a centralized core processing system. These challenges included finding a new core system that could process approximately 75 mil lion accounts daily — a number greater than any bank in the world was processing on a centralized basis. Moreover, the bank lacked experience in implementing centralized systems, and its large employee base took great pride in executing complex transactions on local in-branch systems. This practice led some people to doubt that the employees would effectively use the new system. Initial Conversion Project: The conversion effort began in August 2003, when SBI converted three pilot branches to the BaNCS system. The successful conversion and operation of the pilot branches was followed by the conversion of 350 retail branches with high-net-worth customers between August 2003 and September 2004. At this point, the bank intentionally halted the conversions to analyze and resolve reported problems. After the software and procedural changes were implemented, SBI converted an additional 800 branches between December 2004 and March 2005. Unlike in the previous conversions, this group of branches included predominantly commercially oriented offices. The conversion effort then refocused on retail branches until November 2005, when the bank paused again to resolve problems that came up during this second group of conversions. After the second round of changes, the system and processes were functioning smoothly, and management believed the branch conversion could be accelerated. Based on the successful pilot survey, SBI decided to convert the approximately 6,700 remaining SBI branches to the BaNCS system. The conversion of the remaining branches began in June 2006, with the stated goal of completing the conversion by year-end 2008. Managing the change: The factors which helped SBI in managing such a huge change are as follows: * Senior management commitment. The project was driven by the chairman of SBI, who met every month with the information technology (IT) and the business sector heads. The chairman monitored the overall status and ensured that sufficient resources were allocated to the project. TCS senior managers were thoroughly committed to the project as well and periodically met with the SBI chairman to review the project status. †¢ Staffing and empowerment of project team. The core banking team consisted of the banks managing director of IT acting as team head and 75 business and IT people selected by the bank. TCS also staffed the project with approximately 300 IT professionals trained on the BaNCS system. Importantly, the SBI business people were viewed not just as contributors to a key project but as future bank leaders. This team reported to the SBI chairman and was empowered with all decision-making authority. †¢ Ownership by business heads. The regional business line heads were responsible for the success of conversion of their respective branches and reported the status to the chairman. Thus, the business heads objectives were aligned with those of the project team. Focus on training: SBI used its network of 58 training centers across India to train employees on the new system. TCS personnel first educated approximately 100 SBI professional trainers, who then trained 100,000 SBI employees at the centers; the remaining employees trained at their respective job sites. Benefits of New Core Systems Implementation The new core system has resulted in benefits throughout the bank for b oth the customers and the employees of SBI. For example, the new core banking system has allowed the bank to redesign processes. It established 400 regional processing centers for all metro and urban branches that have assumed functions previously performed in the individual branches. The customers after implementation of this CBS system were no longer only the â€Å"customer of the branch is no longer only the customer of the branch but has also became the customer of the bank†. Meaning, they can carry out any transaction in any branch of the bank. After implementation of this system the bank has reversed the trend of customer attrition and is now gaining new market share.

Taoism Essays (1862 words) - Reincarnation, Taoism, Shabda

Taoism annon It is always present in you. You can use it anyway you want. -- Lao-tzu Taoism is one of the two great philosophical and religious traditions that originated in China. The other philosophy native to China is Confucianism. Both Taoism and Confucianism began at about the same time, around the sixth century B.C. China's third great religion, Buddhism, came to China from India around the second century of the common era. Together, these three faiths have shaped Chinese life and thought for nearly twenty-five hundred years. One dominate concept in Taoism and Buddhism is the belief in some form of reincarnation. The idea that life does not end when one dies is an integral part of these religions and the culture of the Chinese people. Although not accepted by our beliefs, its understanding helps build strength in our own religion. Reincarnation, life after death, beliefs are not standardized between the religions. Each religion has a different way of applying this concept to its beliefs. Ignorance of these beliefs is a sign of weakness in the mind. To truly understand ones own religion, one must also understand those concepts of the other religions of the world. Hopefully this will be an enlightenment on the reincarnation concepts as they apply to Taoism and Buddhism. The goal in Taoism is to achieve tao, to find the way. Tao is the ultimate reality, a presence that existed before the universe was formed and which continues to guide the world and everything in it. Tao is sometimes identified as the Mother, or the source of all things. That source is not a god or a supreme being as with Christians, for Taoism is not monotheistic. The focus is not to worship one god, but instead on coming into harmony with tao. Tao is the essence of everything that is right, and complications exist only because people choose to complicate their own lives. Desire, ambition, fame, and selfishness are seen as hindrances to a harmonious life. It is only when one rids himself of all desires can tao be achieved. By shunning every earthly distraction, the Taoist is able to concentrate on life itself. The longer the one's life, the closer to tao one is presumed to have become. Eventually the hope is to become immortal, to achieve tao, to have reached the deeper life. This is the afterlife for a Taoist -- to be in harmony with the universe. To understand the relationship between life and the Taoism concept of life and death, the origin of the word tao must be understood. The Chinese character for tao is a combination of two characters that represent the words head and foot. The character for foot represents a person's direction or path. The character for head represents a conscious choice. The character for head also suggests a beginning, and foot, an ending. Thus the character for tao also conveys the continuing course of the universe, the circle of heaven and earth. Finally, the character for tao represents the Taoist notion that the eternal Tao is both moving and unmoving. The head in the character means the beginning, the source of all things, or Tao itself, which never moves or changes; the foot is the movement on the path. Taoism upholds the belief in the survival of the spirit after death. To have attained the human form must be always a source of joy for the Taoist. It is truly a reason to rejoice because despite whatever is lost, life always endures. Taoists believe birth is not a beginning and death is not an end. There is an existence without limit. There is continuity without a starting point. Applying reincarnation theory to Taoism is the belief that the soul never dies, a person's soul is eternal. It is possible to see death in contrast to life; both are unreal and changing. One's soul does not leave the world into the unknown, for it can never go away. Therefore there is no fear to come with death. In the writings of The Tao Te Ching, tao is described as having existed before heaven and earth. Tao is formless; it stands alone without change and reaches everywhere without harm. The Taoist is told to use the light that is inside to revert to the natural clearness of sight. By divesting oneself of all external distractions and desires, one can achieve tao. In ancient days, a Taoist that had transcended birth and death and achieved tao was said to have cut the Thread of Life. The soul, or spirit, is Taoism does not die at death. The

Steven Spielberg Saving Private Ryan Essay Example

Steven Spielberg Saving Private Ryan Essay Example Steven Spielberg Saving Private Ryan Essay Steven Spielberg Saving Private Ryan Essay Essay Topic: Film Saving Private Ryan was directed by Steven Spielberg and it was first released on September 11th 1998. The film was based on the world war two, it was a pivotal event of the 20th century and a defining moment for America and the world, some of the leading actors in the film are Tom Hanks (captain Miller), Tom Sizemore (sergeant Horvath), Edward Burns (private Reiben) and Matt Damon (private Ryan). In the film the desiderated colour gives the war scene a great effect and the handheld cameras again add to the reality of these scenes and capture a lot of detail which makes it seem very realistic, Steven Spielberg wants to show the ugly side of war by having great detail in the battles, they are very shocking and the use of handheld cameras catch every drop of blood that sheds from every soldiers. Spielberg did not want to glamorise the events of Omaha beach and the opening sequence he is determined to show the true reality, I think the first scene suggests this by showing the American flag flying above the graves of American soldiers and shows the outcome of war and this is certainly not alluring, it shows how the war is so dark and horrific. In the first scene Private Ryan is an old man cautiously walking through the masses of graves, and suddenly pauses and falls to his knees, busting into streams of tears; Spielberg shows us how much sorrow war brings to peoples lives. When the camera zooms into Private Ryans eyes you can actually see the sheer hurt in his eyes and the transition takes place when we almost see the cold icy sea in his mournful eyes, we then hear the waves crashing against the Americans boat, the colour fades and the fear we see in Private Ryans eyes turns into the captain Millers eyes. As they approached Omaha beach the sound of machinery is thunderous and the roaring of instructions from the captains can be heard. The soldiers dont even have time to get of the boat when they are brutally slaughtered by the Germans. The soldiers then jump over board into the icy waters, the Germans shoot at them and as they hit the water the bullets are rapidly muted as they hustle through the sea piercing though the soldiers lifeless corpses, the sea turns to an instant red, a sea of blood and massacre, Spielberg continues to show the audience what war is really like. Captain initial reaction is one of shock as he sees dead fish scattered among the bodies of soldiers, human beings. Perhaps Spielberg is trying to convey a sense of a human being, has no greater vale than a fish in this scene, this really shows us what war is like, and the panning view shows the audience the destruction of the war and how futile war is.

A Practical Guide The 5 Best Ways to Save for College

A Practical Guide The 5 Best Ways to Save for College SAT / ACT Prep Online Guides and Tips So you want to be proactive and save for college. Maybe you’re a high school student who wants to build up a college fund for yourself, or maybe you’re a parent or family member who wants to save for a young loved one.No matter your situation, you’re taking a proactive step in making college a little bit more affordable. In this post, I’ll discuss the things you need to know in orderto build, keep, and grow college savings. We'll discuss the fivebest ways to save for college to lower student debt on graduation and take a load off your mind. First, though, I'll talk about the question you should be considering before you implement your savings plan: how much should you be putting away in the first place? Read on to find out! How Much Should You Save? As you might imagine, the answer to this question will be different for everyone. I'll talk about the costs of college, how they're expected to change, and some common savings goals before moving into the nitty-gritty of savings calculations. College is already pretty expensive, with costs varying based on factors like school type, financial need, and academic merit. On average, it costs about $45,000 to attend a private US college for one year, whilethe cost of attendance at an in-state public school averages about $23,000. You can read more about estimating your own expenses with our college cost guide. Although it'scurrently pricey to get a college education, expenses are only increasing year by year. If prices increase at a rate of 5% annually, the total cost of 4 years of college in 18 years could be: $237,000 at an in-state public university $464,000 at a private college or university These sticker prices are definitely intimidating, but it's important to keep in mind that most families aren't shelling out those total amounts in cash in order to pay for school. As of a few years ago, this wasthe average percentage breakdown of how families paid for college (according to the College Board): 5% contributions from relatives and friends 9% parent borrowing, like with a private or PLUS loan % student income and savings 18% student borrowing, like with a Direct loan or Perkins loan 27% parent income and savings 30% grants and scholarships like the Pell Grant Hopefully, this breakdown helps assuage any fears you may have about the process of paying for college. Although it isn't difficult to come up with a currentnet price estimate of college expenses, it may be challenging to do this for students who will attend college in 5, 10, or 15 years. According to one survey, most parents say they hope to pay at least half of their children's college expenses; in the following examples, I'll work with these figures and savings goals to show you how much, exactly, you should stash for the future. Calculating Savings Maybe the most tedious part of saving for college: figuring out what you're comfortable putting away. Ultimately, theamount you decide to save will depend on your family income and expenses. You don’t have to have four years’ worth of expenses (tuition, room, board, fees, etc.) saved up by the time your student’s 18, especially if your family has alower income and you expect toqualify for financial aid like the Pell Grant. It’s hard to predict what sort of aid you willget thatfar in the future, but you canstart with an estimate of what your family will have to pay out of pocketgiven current costs. Once you've come to a savings goal - let's say your full expected family contribution (net price) for convenience's sake - you can figure out how much to put away every pay period. Just divide your total expected contribution for fouryears of collegeby the number of pay periods until your child leaves for school. Here's a basic savings formula for how much you should save per month, assuming your money wouldn't be earning any gains or interest: Monthly savings = Total savings goal à · (Years until college x 12) Let's see how this looks in action: If you have a newborn baby, you'll have 18 years to save for college. You have the advantage of time on your side, but you also know that college costs will rise significantly over the next couple of decades. You estimate that thecost of attendance at a private college will cost about $460,000 by the time your child goes to school, and you want to save half that amount: $230,000. If you stashed your cash in a 0% interest account, you could save $230,000 in 18 years by setting aside $1065 a month If you stashed your money in an account with an average annual rate of return of 6%, you could save $230,000 in 18 years by setting aside $500 a month $500 a month is a lot more reasonable than $1065 a month, but it still may not be withinyour budget. What happens if you save less per month, over 18 years, in that same 6% yield account? If you save $100 a month, you would have $47,000 in 18 years If you save $250 a month, you would have $166,000 in 18 years Ultimately, any amount that you choose to put away will help empower your child (or yourself) to pay for college in the future. As you can see; however, you can grow your money much more effectively if you save early, save often, and save in an account with a high rate of return. Ways to Build Funds To students and parents alike: the earlier you start building a college fund, the better. Strategies for fundingcollege will vary based on who, exactly, is trying to save for school. Whether you're a parent or a student, you can start working on a funding source. For Parents It’s never too early to start a college fund for your future student. In fact, the earlier you start, the easier it will be to save a significant amount. Perhaps thebest way to save is to set aside a small percentage of your income every pay period. You canwithhold it and put it aside in a big chunk at the end of the year. Alternatively, you canhave a set amount or percentage automatically deposited in a separate account every pay period. The amount you choose to set aside will obviously depend on your income and family expenses. For Students There are many different ways for you to start building up a college fund for yourself. The more you save now, the less you may have to worry about your tuitionbills or student loan payments later. Student Jobs You can start working in many states at 14 or 15, which potentially givesyou 3-4 years to build up some savings for college. This isn’t the right choice for everybody - you shouldn’t put a job ahead of your studies or extracurricular activities - but it can be a good way to start putting money away for the future. Assume that you'll start off working part-time and at federal minimum wage - not super appealing, I know, but that'sthe unfortunate reality of getting a job as a teen. If you work full-time for twomonths during the summer (40 hours per week at $7.25 per hour), you could earn up to $2,320 before taxes. Do this for three summers during high school, and you could earn almost $7,000. That's a significant chunk of money, but it requires a lot of time and energy on your part. Starting early; however, could provide opportunities for advancement (i.e. salary raises) and work experience that may help you get a more appealing job once you're in college. Check out our article talking about when you should (or shouldn't) get a job as a student. Family Member Contributions Some students may be fortunate enough to have family members whoare willing to help with college expenses. If you’re still in high school but want to start building your college fund, ask family members for contributions in lieu of traditional gifts for birthdays or holidays. Scholarships You don’t have to wait until you’re accepted to college to start applying forscholarships. There are a lot of programs out there open to high school students, and some are open to even younger kids. To start your scholarship search, check out our posts on the top scholarship programs for high school juniors and high school seniors. Spend a few minutes researching scholarships in your area that may be eligible for. Even small scholarships add up if you’re diligent about applying broadly. Where to Keep Your Money Money may not grow on trees, but that doesn't mean it can't grow. Now that you have a plan for bringing in college money, you’ll need a plan for saving in a smart way. If you let your money just sit in a checking account or a low-interest savings account, you could be losing money due to inflation in the long run. Don’t let all your hard work go to waste! There’s no one right savings plan for everyone, but there are a lot of different options available, each with its own pros and cons. I’ll present them all here so you can pick one or more that may work for you. Savings Accounts You can open a savings account in a matter of minutes at any bank. If you're looking for something a little more specialized, check outCoverdell Education Savings Accounts - they're custodial accounts that are meant specifically for education costs. Pros If you put your money in a savings account, it'll beeasily accessible and very liquid. It's not difficult to find free accounts with no fees. Your money will grow, particularly if you find a high-interest account. Finally, savings accounts are very flexible, meaning anyone can open an account to use for any other person's education. Cons It can be tempting to dip into college savings if you have easy access to it. Any interest gains are taxable, but thatmay not matter too much at the moment because interest rates are so low - you probably won't be gaining much from interest. 529 Plans 529 plans are education-specific investment accounts - there are many different types of plans out there, so it might take a bit of research to find one that's a good fit. Pros Many 529 plans offer serious tax benefits: when used to cover educational expenses, any investment gains aren't taxed. Any adult can open an account and name any other individual as beneficiary, making the plans very flexible. There's a penalty for dipping into the account for non-education expenses, which hopefullyleads tosuccess in reaching savings goals. Finally, there are high lifetime contribution maximums (this depends on the state, but the maximums vary from 200k-400k). Cons If there's any sort of emergency and you need access to funds you've stashed in a 529 plan, you'll be charged a hefty penalty. The plans themselves often come with fees or other charges. Finally, because 529 plans are custodial investment accounts, they're not viable options for teens who want to save for college themselves. Other Investment Accounts There are other ways to invest college funds in the market besides 529 plans, including brokerage accounts and IRAs. Again, there are a lot of different options out there, so the most important thing is finding an account that works best foryour savings goals. Pros There are a lot of investment account options out there, so you havea lot of control in how you invest your money. Depending on the type of account you choose, your funds should also be more easily accessible than if they were in a 529 plan, which meansyou wouldn't have to pay a penalty for using the money for non-educational expenses. Cons Choosing and managing an investment account takes more workand initiative than just sticking your funds in a savings account. Any gains from an investment account without the benefits of a 529 will be subject to tax, which you may have to pay on top of account fees. You also have to be 18 to open an investment account, meaning teens can't save for college this way (at least not on their own). Finally, some investment accounts can be very volatile, which subjectsyour savingsto quite a bit of risk. CDs A CD is another type of savings account - you receive a certificate when you deposit your money for a specific length of time, at a specific interest rate. You can get your money + interest rate when your CD â€Å"matures,† after the designated time period ends. Pros Because your money isn't invested in the market, you don't have to worry about your savings losing value. CDs have better rates of returnthan many savings accounts when you choose a long-term CD, making them good options for parents with young kids. Cons CDs are more conservative options than most investment accounts,and as such, they tend toresult in lower rates of return over the long term. In reality, the rates of return barely keep up with inflation. Gains are subject to tax. Finally, because long-term CDs keep your money locked in for extended periods, they're not good options for students heading off to college in the near future. Trusts "Trust" is a pretty broad term, encompassing many different things. Essentially, a trust is a fund made up of different assets that are held and managed by someone (a trustee) for someone else (a beneficiary). It's possible to open a trust for the purpose of covering college expenses. Pros You can use trusts to minimize estate taxes (if you have to worry about that), get professional management of funds, and have total control over money if you’re saving it for a minor. Cons To open a trust, you generally need a pretty large lump sum - you can't just slowly contribute over time. They're also expensive to maintain and manage. Ultimately, they're probably best for wealthy families who already have trusts in the works for children or other beneficiaries. Overwhelmed By These Savings Strategies? This info should hopefully keep you grounded. Whether your child is heading off to college next year or 18 years from now, the thought of saving up enough money can be pretty daunting. This is a lot of information to take in, so here's a breakdown of simple steps you can take to get started with a successful college savings plan: You don't have to orchestrate some complicated strategy all at once in order to save for college. If you want to start saving but don't have time at the moment to research different savings or investment accounts, it's okay to put that stuff on the back burner. Justspend a few minutes opening a simple savings account at your current banking institution - that's all you have to do to open a dedicated college fund. Once you have more time, you can start looking at savings plans that will help you grow your money most effectively. You don't have to throw all your extra funds into college savings from Day 1.Managing a household budget is a delicate balancing act for many families. If you are ready to start a college savings plan, begin by putting aside 5% of your income. If that's too much (or too little), you can adjust as necessary. Remember, you can always contribute larger lump sums if you have extra funds available. If you don't meet some arbitrary savings goal, that doesn't mean you've failed. FewUS families can afford to cover all college expenses upfront, but any amount that you save up canhelp cut down on things like student debt and even stress over making payments. Fewer than half of all families with kids sock money away for college - you're already at an advantage by setting up a dedicated college fund. What's Next? Although it's important to have a college fund to cover large educational expenses, your personal savings arenot the only way to pay for college costs. Federal and institutional financial aid may cover a large fraction of these expenses, but only if you submit the right applications at the right time. Check out our guide to applying for financial aid for more information. Did you know that some schools offer much better financial aid packages than others? If you want an education for a bargain, learn more about the 27 colleges with the best financial aid programs. Finally, you may be interested in private scholarship programs to help bridge the gap between what you owe and what you can afford. Read more about the top scholarships out there for high school juniors and high school seniors. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Car Advertising Assignment Example | Topics and Well Written Essays - 1750 words

Car Advertising - Assignment Example Considering the car market in UK, till 1980, the general opinion of Audi was that it was a car built in Europe and customers were not certain of even the nation of building, the technical capacities and the car had no specific image. The car was not clearly positioned according to the Louis Harris Car Image Study. The position of the car changed to some extent and by 1987, the car slowly moved towards the group of prestige cars. This was due to the "Vorsprung durch Technik" Campaign of the 1980s. Though the car was of the same size as Ford and Vauxhall, it was positioned as a car above them in terms of image. Further improvement was achieved in 1995 when Audi took advantage of the marketing opportunities that were available to it and to an extent this was due to the new models that were introduced. These were called Audi A8 and the Audi A4 and both these cars were far better that the previous models that this brand had. (Members only - how advertising helped Audi join the prestige ca r club) The models were liked by the press and the potential customers, and the particular brands have won a number of awards. This range of models was an improvement on the previous models that it had and those were called Audi 80 and Audi 100. Yet the brand had strong opponents in terms of brand names and prices. There were also new launches coming up from the competitors and the brand had not many advantages in terms of product itself. Thus, it was essential to establish the brand on certain parameters. The advantage of the brand getting into the prestige segment was that it would permit the brand to retain value after a few years of usage and this would encourage the users to buy the car. This can be seen in the case of Mercedes C class, Saab 900i, and Ford Mondeo 2.0 Si, where Mercedes retained 87.5 percent of the value, Saab retained 76 percent and Ford retained only 61 percent. Naturally, the car with the highest prestige would provide unseen advantages for its buyer and thus would f ind it easier to sell. (Members only - how advertising helped Audi join the prestige car club) The general positioning in Britain seems to be with Porsche and Ferrari as members of the Super Prestige group, BMW, Mercedes and Jaguar being members of the prestige group; Volvo and Saab being members of the quality cars group; Ford, Vauxhall, Rover and Renault being members of the mainstream cars group and Kia and Proton being members of the budget cars group. The cars in the prestige and super prestige group are able to charge a higher price, while the sales are the highest for the mainstream cars. In terms of positioning, it was always the objective of Audi to be a member of the prestige cars group. (Members only - how advertising helped Audi join the prestige car club) The logic for this is based on volume of production, desired profits and other matters. The consumers also view cars within different groups in a manner that keeps their image in line. The purchasing decision is then based on the cost of the cars and what the user can afford to pay. So far as prestige and super p restige cars are concerned, they charge a premium price and this has to be supported by their image. The positioning of a brand is

Social Psychology Essay Example | Topics and Well Written Essays - 1250 words

Social Psychology - Essay Example This paper focuses on social psychology as a branch of psychology. As a branch of psychology, social psychology concerns itself with the understanding of individual’s mental behaviors, functions and processes within a social context (Vala and Costa-Lopes, 2012). Myers and his co-authors (2010) also define social psychology as the scientific field that aims at understanding the causes and nature of the behavior of an individual in social situations or contexts. Therefore, it looks at the behavior of an individual as influenced by the social context and other people around where this takes place. In other words, social psychology can be described as a discipline that employs scientific methods in understanding and explaining how the feeling, behavior, and thought of an individual are influenced by the implied, imagined, or actual presence of other people in a particular context, or different situations (Letitia, et al., 2005). While the discipline also relates with sociology by looking on group factors such as socio-economic class and race, it relates to psychology in the sense that it looks at these factors by focusing on an individual. The discipline focuses on a broad range of social topics such as social perception, non-verbal behavior, prejudice, conformity, leadership, aggression, and group behavior, among others (Funder and Krueger, 2004). Apart from looking at the social influences, this discipline also looks at the issues to do with social interaction and social perception, all of which are essential in understanding an individual’s behavior within a social context (Rogers, 2011). Like other disciplines, social psychology has developed over years to become an acceptable and scientific field of study and practice around the world. While the influences of social psychology can be traced to early centuries, it started to develop as a discipline in the wake of the twentieth century (Vala and Costa-Lopes, 2012). The earliest influences of this d iscipline came from such philosophers as Aristotle and Plato. Aristotle held the belief that human beings are naturally sociable creatures, a feature that allows them to live together. His view was considered as an individual-centered approach because it considers an individual essential in a social context. On his part, Plato believed that the state was critical in controlling individuals and encouraging social responsibility through social situations and contexts. Plato’s view came to be known as the socio-centered approach (Letitia et al, 2005). In the 1800s, there was the introduction of social psychology concepts such as social facilitation and social loafing. This discipline developed further at the dawn of the twentieth century when texts in the field started to emerge, the most notable text being â€Å"An Introduction to Social Psychology,† which McDougall wrote in 1908. The writing of texts in the field in subsequent years greatly contributed to the developmen t of this discipline (Myers, et al., 2010). The period after the Second World War is credited for the substantial development of social psychology and research in social psychology. The horrors of the war led several researchers to develop interest in researching various social psychology topics such as conformity and social influence (Vala and Costa-Lopes, 2012). Some of the research focused on how individual behaviors and attitudes are shaped by social context, how they are formed, and how they can be measured in order to ascertain if change