Tangible Non-Current Assets

Q1. Use the information given below. What will be the total capitalized cost with respect to new business (Answer in $000)? (FIB)Land $6,000,000Inspection Officer $200,000Architecture Design $100,000Labour Wages $1,200,000Material Cost $2,500,000Administration Cost $400,000Property Tax $300,000Site Overheads $150,00037147528384500$ (2 marks) Q2. Siva Co took some loans from the bank at the start of the year 2010 which are as follows: 6% loan repayable in 2011 of $8m & a 9% loan repayable in 2015 of $18m. A construction of a qualifying asset began on 5th April 2010 with the withdrawal of $3m of funds. On 12th August 2010, another $4m was withdrawn for the qualifying asset. What will be the capitalized borrowing cost at the end of the year 2010? (MCQ) $181,800$216,467$316,467$533,851(2 marks) Q3. Relay Co borrowed $60,000 to finance the construction of a shop. Construction will commence in two years' time. The loan was taken on 1st January 2001 but the construction began on 1st March 2001. $13,000 of the loan was unused until 1st July 2001 and instead of keeping it idle Relay Co invested the amount with 3% return. The interest payable for the company is at 10% per annum. Calculate the cost to be capitalized for the year ended on December 2001? (MCQ)$4,800$4,870$5,130$6,000(2 marks) Q4. To operate a local locomotive the government has applied a restriction that in every two years the wheels of the locomotive has to be replaced. This replacement will cost $1.9 million. How should the replacement cost be treated? (MCQ)The cost should be taken into profit ; loss account when it is incurred The cost should be accrued over the two years ; accounted for the maintenance costThe cost should be provided in advance ; accounted for under the maintenance costCapitalize the cost ; depreciate it over the two years until next time(2 marks) Q5. Trivial Co has purchased an asset worth $375,000 on 1st January 2000 ; its useful life is stated at 20 years. A revaluation was taken place on 31st March 2002 where the assets worth increased to $390,000. What will be the total depreciation charged on the asset for the year ended 31st December 2002? (MCQ)$4,687$16,479$21,167$23,872(2 marks) Q6. Accenture Co has rented its office building to 3rd party on 30th June 2020. The company uses the fair valuation model for investment property. Buildings original cost valued at $500,000 on 1st January 2012 ; total life were 25 years. A fair value was obtained on the rented day which valued the building at $400,600. At the year-end of 2020, the fair value of the building was $850,000. What will be the revaluation gain/loss on 31st December 2020? (MCQ)$50,000 (Loss)$70,600 (Gain)$170,00 (Gain)$203,100 (Loss)(2 marks) Q7. Hexcentric inaugurated a plant on 1st July 2016. The plant was expected to run for four years until 30th June 2020. After the expected life the plant would be decommissioned and the land will be restored close to its original state. The cost of decommissioning was expected to be $6 million in four years. This estimate was calculated on 1st July 2016. To calculate the present value the company will use an 8% discount rate where the discount factor for year four is 0.735. Calculate the total charge for the cost to be taken into year-end 30th June 2017 profit ; loss account? (MCQ)$352,800$1,102,500$1,455,300$2,088,000(2 marks) Q8. The following statements relate to revaluation. (HA) The entire class of PPE has to be revalued whenever a single equipment in the respective class undergoes revaluation TRUE FALSEIf a revaluation model is used revaluation must be made regularly to ensure carrying amount has a material difference from the fair value TRUE FALSE(2 marks) Q9. Pang Co has purchased a property worth $7 million on 1st January 2013. The land valued at $3 million. The building total life was 20 years with no residual value. On 31st December 2015, the property was revalued to $9 million where the building valued at $5.184 million. The property was fully sold on 30th December 2017 for $6.5 million. Calculate the gain/loss on disposal which will be accounted for profit ; loss? (MCQ) $1,924,000 (Loss)$3,816,000 (Loss)$4,608,000 (Gain)$2,824,000 (Gain)(2 marks) Q10. Which of the following statements are correct in relation to government grants? (MRQ)A government grant is recognized in the profit ; loss over an assets useful lifeA repayment of a government grant received in previous years is a prior period adjustmentA marketing advice from the government does not constitute under the definition of government grantThe grant received for an asset must be excluded from the carrying amount of the asset (2 marks) Q11. A company has inaugurated a new plant with the help of a government grant of $20,000. The life of the plant is five years. Other than granting the installed equipment in the plant cost $90,000. All equipment is depreciated at 20% per annum on a straight-line basis. Calculate the value of government grant taken into Year 1 current liability using deferred income method? (MCQ)$4,000$16,000$18,000$20,000(2 marks) Q12. A company issued loan notes for $200,000 on 1st January 2008. On the same day, the company used the money to buy an investment property. At the year-end, the fair value of the property had risen to $400,000 with a remaining life of ten years. The company uses the fair value model for all properties. Which of the values will be accounted in the year's profit ; loss account? (MCQ)Gain $200,000, Depreciation $40,000Gain $0, Depreciation $40,000Gain $200,000, Depreciation $0Gain $200,000, Depreciation $20,000(2 marks) Q13. Zima Co took some loans from the bank at the start of the year 2015 which are as follows: 9% loan repayable in 2016 of $11m ; a 13% loan repayable in 2020 of $29m. A construction of a qualifying asset began on 5th April 2015 with the withdrawal of $8m of funds. On 12th August 2015, another $9m was withdrawn for the qualifying asset. What will be the capitalized borrowing cost at the end of the year 2015? (MCQ) $267,750$446,250$714,000$1,160,250(2 marks) Q14. Olay Co borrowed $25,000 to finance the construction of a plant. Construction will commence in two years' time. The loan was taken on 1st January 2013 but the construction began on 1st March 2013. $6,000 of the loan was unused until 1st July 2013 and instead of keeping it idle Olay Co invested the amount with 7% return. The interest payable for the company is at 15% per annum. Calculate the cost to be capitalized for the year ended on December 2013? (FIB)3613151270000$ (2 marks) Q15. Plato Co has purchased an asset worth $258,990 on 1st January 2008 ; its useful life is stated at twenty years. A revaluation was taken place on 31st March 2010 where the assets worth increased to $310,000. What will be the total depreciation charged on the asset for the year ended 31st December 2010 nearest to $000? (FIB)3613151270000$ (2 marks) Q16. Ventura Co has rented one its properties to a 3rd party on 30th June 2010. The company uses the fair valuation model as an investment property. Property's original cost valued at $800,800 on 1st January 2002 ; total life was 50 years. A fair value was obtained on the rented day which valued the building at $750,500. At the year-end of 2010, the fair value of the building was $1,150,000. What will be the revaluation gain at 31st December 2010? (FIB)3613151270000$ (2 marks) Q17. Boric Co opened a machine on 1st July 2006. The plant was expected to run for four years until 30th June 2010. After the expected life the machine would be decommissioned and the area will be restored nearest to its original state. The cost of decommissioning was expected to be $3.3 million in four years. This estimate was calculated on 1st July 2006. To calculate the present value the company will use a 12% discount rate. Calculate the total charge for the cost to be taken into year-end 30th June 2007 profit ; loss account? (MCQ)$251,856$272,844$524,700$776,556(2 marks) Q18. Bing Co has purchased a land ; building worth $12 million on 1st January 2005. The land valued at $4 million. The buildings total life was ten years with no residual value. On 31st December 2007, the land ; building were revalued to $16 million where the land valued at $6.75 million. The land ; building was fully sold by 30th December 2009 for $10.5 million. Calculate the gain/loss on disposal? (MCQ) $4,472,000 (Loss)$1,600,000 (Loss)$1,028,000 (Gain)$5,600,000 (Gain)(2 marks) Q19. Jazzy Co has opened a new factory with the help of a government grant of $580,600. The life of the plant is fifteen years. Other than granting the installed equipment in the plant cost $20,400. All equipment is depreciated at 25% per annum on reducing balance basis. Calculate the value of government grant taken into Year 1 current liability using deferred income method? (MCQ)$15,300$20,400$145,150$150,250(2 marks)TANGIBLE NON-CURRENT ASSETS (ANSWERS)Q1. $10,150 Capitalized Cost = 6,000 + 200 + 100 + 1,200 + 2,500 + 150 = $10,150 Q2. CInterest = (8 Ãâ€" 6%) = 0.48 + (18 Ãâ€" 9%) = 1.62 = 2.1(2.1 à · 26) Ãâ€" 100 = 8.08%3,000,000 Ãâ€" 8.08% Ãâ€" 9/12 = 181,8004,000,000 Ãâ€" 8.08% Ãâ€" 5/12 = 134,667Total = 181,800 + 134,667 = $316,467 Q3. B60,000 Ãâ€" 10% Ãâ€" 10/12 = 5,00013,000 Ãâ€" 3% Ãâ€" 4/12 = (130)Total = 5,000 – 130 = $4,870 Q4. DThis is known as overhauling where maintenance, inspection or any repair is required. It is capitalized in the asset ; depreciated over its useful life in this case the life of wheels. Q5. CDepreciation till 31st March = (375,000 à · 20) = 18,750 Ãâ€" 3/12 = $4,687Years = 20 – 2.25 = 17.75 remainingDepreciation till 31st December = (390,000 à · 17.75) = 21,972 Ãâ€" 9/12 = $16,479Total = 4,687 + 16,479 = $21,167 Q6. BDepreciation = (500,000 à · 25) Ãâ€" 8.5 = 170,000Cost – Depreciation = 500,000 – 170,000 = 330,000Revaluation Gain = 400,600 – 330,000 = 70,600 Q7. CDepreciation = 6,000,000 Ãâ€" 0.735 = 4,410,000 à · 4 = 1,102,500 Finance Cost = 4,410,000 Ãâ€" 8% = 352,800Total = 1,102,500 + 352,800 = $1,455,300 Q8.The entire class of PPE has to be revalued whenever a single equipment in the respective class undergoes revaluation TRUE If a revaluation model is used revaluation must be made regularly to ensure carrying amount has a material difference from the fair value FALSEThe difference between carrying amount ; the fair value should be immaterial when applying revaluation model. Q9. AWorkings are done in $000.Depreciation (Building) = (4,000 à · 20) Ãâ€" 2 = 400Cost = 7,000 – 400 = 6,600 Revalued to 9,000 with gain of 2,400Depreciation (Building) = (5,184 à · 18) Ãâ€" 2 = 576Building value = 5,184 – 576 = 4,608Property value = (4,608 Building) + (3,816 Land) = 8,424Loss on disposal = 8,424 – 6,500 = 1,924 Q10.A government grant is recognized in the profit ; loss over an assets useful life (Correct)A repayment of a government grant received in previous years is a prior period adjustment; all adjustments are to be dealt prospectively A marketing advice from the government does not constitute under the definition of government grant (Correct)The grant received for an asset must be excluded from the carrying amount of the asset; a deferred income method can be used also Q11. AThe deferred income method:Year 0Equipment Dr. (90+20) $110,000Bank Cr $90,000Government Grant Cr $20,000Year 1Depreciation for equipment = 110,000 Ãâ€" 20% = $22,000Government Grant = 20,000 Ãâ€" 20% = $4,000 (Current Liability) Q12. CThe gain of $200,000 will be recorded as in fair value model no depreciation is charged. Q13.Interest = (11 Ãâ€" 9%) = 0.99 + (29 Ãâ€" 13%) = 3.77 = 4.76(4.76 à · 40) Ãâ€" 100 = 11.9%8,000,000 Ãâ€" 11.9% Ãâ€" 9/12 = 714,0009,000,000 Ãâ€" 11.9% Ãâ€" 5/12 = 446,250Total = 714,000 + 446,250 = $1,160,250Q14. $2,98525,000 Ãâ€" 15% Ãâ€" 10/12 = 3,1256,000 Ãâ€" 7% Ãâ€" 4/12 = (140)Total = 3,125 – 140 = $2,985 Q15. $16,300Depreciation till 31st March = (258,990 à · 20) = 12,950 Ãâ€" 3/12 = $3,238Years = 20 – 2.25 = 17.75 remainingDepreciation till 31st December = (310,000 à · 17.75) = 17,465 Ãâ€" 9/12 = $13,099Total = 3,238 + 13,099 = $16,337Nearest to $000 = $16,300 Q16. $85,836Depreciation = (800,800 à · 50) Ãâ€" 8.5 = 136,136Cost – Depreciation = 800,800 – 136,136 = 664,664Revaluation Gain = 750,500 – 664,664 = $85,836 Q17. DDepreciation = 3,300,000 Ãâ€" 0.636 = 2,098,800 à · 4 = 524,700 Finance Cost = 2,098,800 Ãâ€" 12% = 251,856Total = 524,700 + 251,856 = $776,556 Q18. AWorkings are done in $000.Depreciation (Building) = (8,000 à · 10) Ãâ€" 2 = 1,600Cost = 12,000 – 1,600 = 10,400 Revalued to 16,000 with gain of 5,600Depreciation (Building) = (9,250 à · 18) Ãâ€" 2 = 1,028Building value = 9,250 – 1,028 = 8,222Land ; Building value = (8,222 Building) + (6,750 Land) = 14,972Loss on disposal = 14,972 – 10,500 = 4,472 Q19. CThe deferred income method:Year 0Equipment Dr. (580,600 + 20,400) $601,000Bank Cr $20,400Government Grant Cr $580,600Year 1Depreciation for equipment = 601,000 Ãâ€" 25% = $150,250Government Grant = 580,600 Ãâ€" 25% = $145,150 (Current Liability)

Events of apush Essay

This Unit Activity will help you meet these educational goals Inquiry SkillsYou will apply disciplinary concepts and tools analyze societal issues, trends, and events develop credible explanations of historical events and developments based on reasoned interpretation of evidence gather, evaluate, and use evidence and communicate your conclusions. 21st Century SkillsYou will employ online tools for research and analysis, use critical-thinking and problem-solving skills, communicate effectively, and assess and validate information. Introduction For any historian, it is important to find useful resources and analyze relevant information from those sources. This activity will help you practice reading and evaluating the information presented in historical documents. In this activity, you will read two primary-source historical documents, take notes on those documents, and write a short essay about the documents based on your notes. __________________________________________________________________________ Directions and Analysis Task 1 Analyzing Historical Documents In this activity, you will reference two primary-source historical documents HYPERLINK http//redirect.platoweb.com/346479Declaration of Sentiments by Elizabeth Cady Stanton and the HYPERLINK http//redirect.platoweb.com/346480Pearl Harbor speech by President Franklin Delano Roosevelt. Before you read the documents, read these instructions. Using what you learned in this unit, HYPERLINK http//redirect.platoweb.com/346171examine the sources provided to answer these questions Who authored the document What is the purpose of the document When was the document written What significant historical event or movement does the document represent You may need to do additional research to answer the above questions. If so, be sure to list any additional resources you consulted in the Resources section at the end of this document. Read each primary-source document critically while thinking about these questions Do you notice any exagger ation, stereotype, or emotional appeals that may hint at the authors bias How does the author form his or her argument What are the important themes, main ideas, and arguments presented in the document As you read, take notes on the important information in each document. Enter your notes in the tables provided below. Your notes should include summaries of each documents key points, main  ideas, and arguments. (You will need your notes to complete Task 2.) Type your response here Declaration of Sentiments Notespurpose or main ideapetition for womens rights modeled on the declaration of independenceauthorunknowndate unknownevidence of biasnoevent or movementeventother Pearl Harbor Speech Notespurpose or main ideaauthor HYPERLINK http//www.fdrlibrary.marist.edu/index.html http//www.fdrlibrary.marist.edu/index.htmldateOctober 15 ,2014evidence of biasnoevent or movementEvent other Task 2 Comparing Arguments Referring to your notes and the provided documents, HYPERLINK http//redirect.platoweb.com/346174write a half-page essay that describes how these two primary-source historical documents make their respective arguments. Compare and contrast the arguments presented in the documents. Make sure your essay addresses these questions What techniques do the authors use to form their arguments Is there any evidence of bias or stereotypes Using the HYPERLINK http//redirect.platoweb.com/346177author-date system, make sure you provide parenthetical, in-text citations for any information you use from outside sources, including the two provided documents. When you have finished, reread your essay to check for all of the points above, and then proofread it to be sure your work does not contain errors in grammar or spelling.  Type your response here ________________________________________________________________________ Resources Writing Resources HYPERLINK http//redirect.platoweb.com/346170Research and writing information HYPERLINK http//redirect.platoweb.com/346172Creating a thesis statement HYPERLINK http//redirect.platoweb.com/346171Examining and evaluating sources HYPERLINK http//redirect.platoweb.com/346174Methods for writing a high-quality paper HYPERLINK http//redirect.platoweb.com/346177The author-date system Content Resources HYPERLINK http//redirect.platoweb.com/346479Declaration of Sentiments by Elizabeth Cady Stanton HYPERLINK http//redirect.platoweb.com/346480Pearl Harbor speech by President Franklin Delano Roosevelt Document any references you used for this project below. At minimum, include a title and URL for any Internet resource __________________________________________________________________________ Evaluation Your teacher will use these rubrics to evaluate the completeness  of your work as well as the clarity of thinking you exhibit. Task 1 Analyzing Historical Documents ScoreCriteria8-9 Distinguished Includes relevant, well-formed notes that provide thorough analysis of the two historical primary-source documents. Provides notes that substantially answer the questions provided in the task. Effectively evaluates the key points, main ideas, and arguments presented in the historical documents. 5-7 Proficient Includes notes that satisfactorily evaluate the two historical primary-source documents. Provides notes that clearly answer the questions provided in the task. Evaluates the key points, main ideas, and arguments presented in the historical documents.2-4 Basic Includes some notes that show evaluation of the two historical primary-source documents, but may omit key points from the texts. Provides notes that adequately answer the questions provided in the task. Pinpoints some key points, main ideas, and arguments presented in the historical documents, but restates rather than analyzes this information.0-1 InadequateIncludes a few notes that inadequately discuss or miss important information from the primary-source documents. Provides notes that partially answer the questions provided in the task. Discusses only minor points, ideas, and arguments presented in the historical documents. Non-PerformanceIs completely off topic or blank. Task 2 Comparing Arguments ScoreCriteria8-9 Distinguished The essay is concise and clearly and successfully synthesizes the research information from the students notes. The essay exhibits substantial and well-informed analysis with a logical and planned organization. The essay provides correct, organized citations. The essay is error free or contains only a few minor grammar and spelling errors. 5-7 Proficient The essay completes the task by combining the research information from the notes. The essay includes thorough analysis in a clear, well-organized format. The essay provides correct citations. The essay may contain a few minor grammar and spelling errors.2-4 Basic The essay partially or incompletely contrasts the arguments. The essay includes some analysis and satisfactory organization. The essay provides some citations, but these may be incomplete or use incorrect formatting. The essay contains multiple grammar or spelling errors.0-1 InadequateThe essay may compare some points from the historical documents but is generally incomplete or off track. The essay provides minimal analysis and has poor organization. The essay provides few if any  citations or the citation formatting is incorrect or both. The essay contains numerous grammar and spelling errors.

A Comparative Tragedy Study of Fatalism and Determinism: Oedipus Rex and Thunderstorm Essay

The Thunderstorm and Oedipus Rex, the representatives of Chinese and Greek play, both tell tragic stories about incest and unexpected destiny. The two masterpieces reveal much about the literature patterns and philosophical implications of the different cultures. The exploration of the two plays could help further understand the oneness of world literature and the tragedy of unlike culture. This paper will compare two famous tragic dramas—Oedipus Rex and The Thunderstorm to analyze the similarities and differences in terms of the tragic themes—fatalism and determinism. The process of textual analysis will be associated with the basic literature theory of tragedy and philosophy. Over the centuries, Oedipus Rex, which is a famous Greek drama written by one of three ancient Greek tragedians Sophocles, has come to be regarded as the Greek tragedy par excellence. It chronicles the story of Oedipus, a man who becomes the king of Thebes and was destined from birth to murder his father Laius and marry his mother Jocasta. The play is an example of a classic tragedy, noticeably containing an emphasis on the power of oracle on human destiny and how Oedipus’s own flaws contribute to the tragic hero’s downfall. The Thunderstorm is written by renowned Chinese playwright Cao Yu, often regarded as China’s most important play of the 20th century. The subject matter of The Thunderstorm is the complex relationships between the members of two households, centering on the Zhou family’s psychological and physical destruction as a result of incest, as perpetrated at the hands of its morally depraved and corrupt patriarch. It is considered to be one of the most mature and popular plays in contemporary China. In this paper, the theory being used and the previous study of the two plays will be first presented in the literature review. In the main part of my analysis, I will compare the two plays from the perspective of the contraction between fatalism and determinism. From the analysis of two dramas, we could examine some similarities and differences in the tragic topics. Both Oedipus Rex and The Thunderstorm concern the fatalism and determinism in the tragedy themes; however, they lay different stress on the two topics. 2. BACKGROUND STUDY AND LITERATURE REVIEW One of the most important studies of tragedy is Aristotle’s Poetics. Aristotle states that â€Å"A tragedy, then, is an artistic imitation of an action that is serious, complete in itself, and of an adequate magnitude.† (2) The magnificence of tragedy can be revealed in different aspects, and the tragic theme that considers fatalism and determinism of protagonists is one of the most important elements. The dispute between fatalism and determinism has been long lasting in the development of tragedy study. Fatalism is one of the most eternal themes of tragedy in general. It is the belief that all events are predetermined and therefore inevitable in person’s life. Determinism is the belief that all actions and events result from other actions, events, or situations, so people cannot in fact choose what to do, which is a creation of Hellenistic thought (Dodds 42). Homeric heroes have their predetermined â€Å"portion of life† and they must die for some predetermined reason, but it never occurs to the poet or his audience that this prevents them from being free agents. As Bernard Knox put it, â€Å"the gods know the future, but they do not order it. (122)† Concerning fatalism and determinism, previous scholars have done many researches on the two plays. Martin Kallich (1966), in his article â€Å"Oedipus: From Man to Archetype,† interprets the philosophical theme of Sophocles’ play as a mild agnosticism or neutral fatalism. Oedipus, he declares, behaves normally, commits an error in ignorance, and brings suffering upon himself. However, he fails to include the religious belief in his essay to give a full view of the tragic spirit of Oedipus Rex. From another perspective, E. Lefà ¨vre and A. Schmitt (2007), in the article â€Å"Interpretation of Oedipus Rex† argues that the old and popular formula that Oedipus is â€Å"guiltlessly guilty† is untenable, and they propose instead that his fall results from his behavior—his wrong behavior—brought about by passion. However, they mainly discuss from their own understanding and fail to employ strong tragedy theory to support their viewpoints. Foreign scholars do not conduct many researches on The Thunderstorm. Nevertheless, Chinese scholars have looked deeply into this drama. Both Xin Xianxi (1981) and Wang Linlin (2009) argue that Cao Yu is strongly influenced by the traditional Greek tragedy and Christianity religious belief so that the play has mystical idea of fate, which adds to the impressiveness of the play. However, they fail to take the social background into account when analyzing the tragic spirit of The Thunderstorm. Wan Ping (2010) classifies the tragic spirit of The Thunderstorm into three different categories: the tragedy of love, fate and personality and all the tree aspects of the play make it an intense plot and dramatic artistic effect. Also, he doesn’t consider the social background, which is important part of the play. From the above, we could see that the two plays are well studied by western and eastern scholars. Yet, not so many researchers discuss the similarities and differences between this specific two plays or even the Greek and Chinese drama in general. 3. ANALYSIS OF TRAGIC THEMES: FATALISM AND DETERMINISM The conflicts between fatalism and determinism are fully presented in the two plays, which can also be called the god-made tragedy and human-made tragedy. However, the two holds different proportion of two elements—Oedipus Rex putting more emphasis on fate, while The Thunderstorm underlining the importance of human factors. 3.1 Analysis on Oedipus Rex 3.1.1 The Voice of Fate Oedipus Rex has been almost universally regarded as the classic example of the â€Å"tragedy of fate.† Sir Maurice Bowra’s idea that the gods force on Oedipus the knowledge of what he has done strongly supports the idea of fatalism (390).Through his priests at Delphi, Apollo told Laius that he would be killed by his own son, and later told Oedipus that he would kill his father and marry his mother. At the beginning of the play Apollo tells Creon that Thebes will be saved from the plague only when the murderer of Laius is found and expelled. Although everyone in this play try to do something to avoid the realization of the oracle, in the end, everything comes true. Its power was based on a widespread, indeed in early time’s universal belief in the efficacy of divine prophecy. Sophocles himself also believes in this point: Unless these prophecies all come true for all mankind to point toward in wonder†¦ They are dying, the old oracles sent to Laius, Now our masters strike them off the rolls. Nowhere Apollo’s golden glory now— The gods, the gods go down. (Sophocles 989-97) When chose as the subject of his story about a man who tried to avoid the fulfillment of a prophecy of Apollo, Oedipus believes he had succeeded and casts scorn on all the oracles, only to find out that he had fulfilled that prophecy long ago. The voice of destiny in the play is the oracle of Apollo and Oedipus, to some extent, is the innocent victim of a doom which he cannot avoid. 3.1.2 Hamartia and Loyalty To the rationalist critics of the eighteenth century and still more to the firm believers in human progress of the nineteenth, this aspect of the play was a historical curiosity, to be discounted; in Oedipus Rex, although the fate is God-made to a great degree, it must be clarified that he has his own free will and he is not mere a puppet in the hands of the gods who pull the strings that make him dance. This is a crucial idea of further development of determinism, on which we could give two varied explanations—hamartia and loyalty. The single Greek word, hamartia, lays the emphasis upon the want of insight within a man. The human frailty which is said to bring sufferings beyond the ordinary lot of men is represented in translation by â€Å"blindness of heart†. The conception in the Poetics of an ideal tragic person with his imperfect insight, proper for tragedy, can be constructed in the personality of Oedipus (39). He turns upon a certain blindness of impulse, which at length is recognized the man himself—whereupon he puts out his own eyes. On the other hand, Oedipus’ loyalty to truth and to Thebes leads him to seek the truth tirelessly. Even though Creon, Jocasta, and the prophet try to stop him all the way, Oedipus, who is struggling in the pursuit of truth, insists on reading the last riddle, the riddle of his own life. The immediate cause of Oedipus’ ruin is not just â€Å"Fate†Ã¢â‚¬â€no oracle said that he must discover the truth—and still less does it lie in his own weakness; sometimes it is suggested that Oedipus would not have avoided his misery by having been a better man, but he could have remained prosperous and happy if he had been a less good man. What cause his ruin are his own strength and courage, his loyalty to Thebes, and his loyalty to truth. 3. 2. Analysis on The Thunderstorm 3.2.1 Destiny or Coincidences Similarly, in traditional Chinese literature, destiny, which often translated into Tian [Ã¥ ¤ ©], also has a deep implication in the formation of tragedy. Famous critic Li Jiangwu said, â€Å"This play has the most potent but invisible power—destiny, which we feel all the time. (48)† And Cao Yu writes in the preface of The Thunderstorm, â€Å"I am a spiritually poor man, but I invited my audiences to be god of my play to look sympathetically on ‘those moving creatures’ on the stage, to look how they argue with each other blindly, how they helplessly struggle in the battle of love. (2)† Two families’ destinies fall into tragedy because of some unexpected coincidences. If Sifeng does not go to the Zhou’s family to work as a servant or if Lu Dahai does not come to visit Zhou Puyuan, or if any detail in the play changes, the whole story may not happen. The fate plays an important part in the development of the plot and contributes much to t he tragic effect. 3.2.2 Social Tragedy Although there is the fate that works in the play, what the characters have done is the main pusher of the plot. Cao Yu also states that this play is not about retribution or karma (3). While, in The Thunderstorm, the determinism presents in a different direction. Zhou Pin cannot endure the suppression of his father, but he does not show it and bear it inside. He feels repent and wants to get out of the secret relationship with his stepmother, but he only chooses to escape the reality, so that he falls in love with Sifeng, which is also a person that he cannot love. Similar as Oedipus, what he tries to avoid finally leads him to destruction. From what the play presents, Zhou Pin is more like a coward escaping the tragic results of his life. His evasion contributes to the tragic ending. Zhou Fanyi, who is also a tragic character in the play, marries Zhou Puyuan, but she is not able to feel love until she loses her heart to Zhou Pin. What is more tragic is that Zhou Pin cannot love her wholeheartedly either. She mistakenly put the happiness of her whole life to a person that cannot company and care for her aboveboard. Her tragedy is the social tragedy, at which time women’s social status is low and they do not have the ability to pursue their felicities on their own. Fanyi’s personal flaws and the social environment lead to the tragedy of herself. While writing this play, Cao Yu underlines the social background, in order to further reveal the social problems, which offer people no freedom of choice. That’s why everyone’s wrong choice results in the destruction of the whole family. 5. Conclusion Different from the previous study, as we could examine from the analysis, this paper regards the tragedy as a combination of fatalism and determinism. What is similar between Oedipus Rex and The Thunderstorm is that they both stress the necessity the factor of destiny in the plot of a tragedy. Destiny is a universal theme of all tragedies in the history and all around the world. What is different about the two plays is that the determinism is presented in distinct way. Oedipus Rex embeds the tragic elements into the â€Å"tragic flaws† of Oedipus. Through building the downfall of Oedipus as a hero but somewhat ignorant person, readers may feel more regret and grieved. While in The Thunderstorm, the social background, in which the story was carried on and which people who are unable to avoid and revolt, contributes more to the happening of tragedy. This difference shows the different concerns in Chinese and western culture: Chinese literature works tend to focus on the social problems through revealing the personal life, while the western literature puts the emphasis on the image of the whole person. (Word Counting: 2190 words) Works Cited Aristotle. Poetics. Trans. Lane Cooper. New York: Cornell University Press, 1947. Print. Bowra, Maurice. â€Å"Dance, Drama, and the Spoken Word† The Royal Society: Philosophical Transactions of the Royal Society of London 251.772, (1966): 390. ProQuest. Web. 15 May 2013. Cao Yu. The Thunderstorm. Beijing: People’s Literature Publishing House, 1994. Print. Dodds, E.R. â€Å"On Misunderstanding the Oedipus Rex.† Cambridge University Press: Greece & Rome, Second Series13.1 (1966): 42. Jstor. Web. 26 April 2012. E. Lefà ¨vre and A. Schmitt. Interpretation of â€Å"Oedipus Rex†[Die Suche nach der Schuld. Sophokles’ â€Å"Oedipus Rex†, Aristoteles’ â€Å"Poetik† und das Tragà ¶dienverstà ¤ndnis der Neuzeit] The Classical Review 57.1(2007):18-20. Jstor. Web. 1 May 2013. Kallich, Martin. â€Å"Oedipus: From Man to Archetype.† Comparative Literature Studies 3.1 (1966): 33-35. Rpt. in Drama for Students. Ed. David M. Galens and Lynn M. Spampinato. Vol. 1. Detroit: Gale, 1998. Literature Resource Center. Web. 20 Apr. 2013. Knox, Bernard. â€Å"Introduction to Oedipus the King.† Sophocles’ Oedipus Rex. Ed. Harold Bloom. New York: Chelsea House. 2007. 71-90. Print. Li Jianwu. â€Å"The characteristics of drama† [Xiju De Tezheng] Beijing: Literary Criticism: 3(1963): 42-52. CNKI. Web. 2 May 2013. Ma Xiaozhao. The Entanglement between History and Human Relation: the comparison between the aesthetics meaning of western and Chinese tragedy. [Lishi Yu Renlun De Tongku Jiuchan: Bijiao Yanjiu Zhongxi Beiju De Shengmei Yiyun] Beijing: China Social Sciences Publishing House, 2008. Print. Sophocles. Oedipus the King. Trans. Stephen Berg and Diskin Clay. New York: Oxford University Press, 1978. Print. Wang Linlin. â€Å"The Unavoidable destiny tragedy—the textual analysis on The Thunderstorm.† [Nanyi Duobi De Mingyun Beiju—Leiyu Wenben Fenxi] Taiyuan: Masterpieces Review: 14 (2009): 85-88. CNKI. Web. 1 May 2013. Wan Ping. â€Å"A tentative study on the tragic essence of The Thunderstorm† [Shilun Leiyu De Beiju Yiyun] Beijing: Literary Criticism: 3 (2010): 134. CNKI. Web. 1 May 2013. Xin Xianxi. â€Å"A Discussion on several questions of The Thunderstorm.† [Guanyu Leiyu Ruogan Wenti De Tantao] Beijing: Studies on Modern Chinese Literature: 1(1981). CNKI. Web. 1 May 2013. View as multi-pages

Transition Plan Essay Example | Topics and Well Written Essays - 750 words

Transition Plan - Essay Example (Mario and Marko, 2001) Transitions in the economic and financial structure in various countries have changed the mindset of many policymakers and forced them to rethink on their decisions. The present credit crunch can be termed as another period of transition wherein most of the nationalized banks in the so called superpower, richest land on earth, United States are tumbling down. The world was not ready for the crisis and hence the present economic turmoil. Schools have an important role to play in the lives of children in regard to their education and skills. The present challenges faced by schools are preparing them for the future studies. Most of the schools don't offer guidance to the students on their future education and career. Schools should take the responsibility of identifying the students' interest of education, subject and field of study and encourage and assist him to achieve his/her goals. Prior to introducing the child to school, it is necessary to assess the child's readiness to start school by looking into various factors such as child's age, maturity, social skills, health and their ability to perform certain tasks individually. (Angela, 2008) This transition could lead to lots of constraints for parents. Therefore, it is necessary to educate the parents first before they bring in their children for admission in pre-school. The parents should be advised to talk with their children about schools which will reduce the fear of entering into a new world. The parents should instructed to attend the orientation session where they can be informed about the curriculum, schedules, extra-curricular activities, etc. (www.indiaparenting.net) Smoother transition of activities Schools have to pen down various measures and steps to ensure that transition in schools do not have harsh impact on students. Transition is planning for one's future after high school while still in high school. The transition from school to work, from secondary to post-secondary education is an arduous task for the students of various categories. The schools must lay down procedures to tackle such issues through early planning, continuous assessment process of interest of students, their goals, work experiences, networking with agency and community personnel and creativity about planning. (www.dpi.state.nd.us) Transition plan should draw all the information relating to all the fields mentioned herein, in order to plan correctly the future of young adults. (www.surreycc.gov.uk) Facilities for stakeholders and their responsibilities The process of transition means leaving the past behind and moving ahead which could be painful at times on any given day. Therefore it has to deal carefully in terms of school so the process does not affect the mindset of children. Children in kindergarten should be assessed on various criterions like physical, emotional, linguistic and cognitive and work according to the requirement laid down in the code of practice. Children should be advised on all the issues of transition by preparing a proper transition plan. Children should be prepared well to take on the forthcoming challenges. In regard to their career, the schools should assess

Ideological analysis of two different magazines Essay

Ideological analysis of two different magazines - Essay Example The magazine was founded in 1977. Acquired by Werner Media in 1986, it currently has a circulation of 1.7 million, and a web site that has approximately 2 million unique hits a month. Upon first glance of U.S. Weekly, the reader is bombarded with images of fashion, stereotypical beauty, and often current scandals in the entertainment world. Glamorous ideals promoting the everyday lives of the wealthy, and advertisements centered on makeup, lingerie, acne medication, and ads for television shows that are marketed to woman as well, make up the majority of the sponsors. On the cover of issue 629 March 5, 2007, there were three main pictures on the front cover. One was of Brad Pitt and Angelina Jolie walking their newly born and adopted children in dual strollers through the streets; below this was a picture of a very glamorous and happy looking newly coupled Kate Moss and Owen Wilson, both with bright blond hair, shiny white teeth and blues eyes. Next to these two small photos, was a hu ge leading photograph of Britney Spears with a partly shaved head and a lead title statement saying, Help Me. This cover page gives perfect insight into the magazines ideology, in that it shows what ideals the editors promote as well as what goes against their values. By U.S. Weekly degrading Britney Spears for shaving her head, as apposed to putting it in a positive light, or doing any genuine investigative/informative journalism on her motives, the magazine takes a definite stance. Using Spear’s image in this way is a combination of exploitative scandal, and the magazines way of taking a finite stance against her fashion decision, but it takes it even further. The fact that she cuts her hair is not treated as just a fashion mistake, but as a sign that she needs psychological analyses. Her personal and family life is put in question and she is virtually crucified by the magazine for simply cutting her hair. Of course, the hair she cut was the key

Evolutionary Ethics Essay Example | Topics and Well Written Essays - 3000 words

Evolutionary Ethics - Essay Example What some evolutionists seem to say is that conduct which causes the doer of that conduct or even the race to which he belongs to survive is good conduct. It may be a plausible theory that prolongation of life in the individual or in the race is a good thing, so that all actions leading to it are good, but this is not an evolutionary theory of ethics. Like Sharmer (2004) wrote: "As we transition from kin and reciprocal altruism to species altruism and bio-altruism and as religion continues to give ground to science, we need a new ethic for an Age of Science, a new morality that not only incorporates the findings of science, but applies scientific thinking and the methods of science to tackling moral problems and resolving moral dilemmas. We have done well thus far, but we can do better" (p. 64) In contrast to the Shermer's statement, there seems to be something unstable about every evolutionary theory which tends to turn into a theory of a different type. This is especially true of the greatest revolutionary theories of ethics, that of the twentieth century philosopher, Michael Shermer. Is there a natural selection and a 'survival of the fittest' in the sphere of morality as there is in the sphere of biological evolution According to Shermer "with an ascending hierarchy of needs from self-survival of the individual (basic biological needs), to the extension of the individual through the family (the selfish gene), to a sense of bonding with the extended family (driven by kin selection [or] helping those most related to us), to the reciprocal altruism of the community (direct and obvious payback for good behaviours), to indirect altruism of society (doing good without direct payback), to species altruism and bio-altruism as awareness of our membership in the species and biosphere continue[d] to develop" (p. 20). If we were dealing with the positive science of ethics we could certainly make generalizations very like those that are made by the Shermer. Individuals and races may vary their conduct, just like the 'chance variations' of Shermer, and we may believe that certain varieties of conduct will lead the race or individuals that practise them to survive, while those practising other types of conduct will perish. There may be a struggle for existence in the world of men as in the world of animals; only in the developed stages of that struggle the qualities which lead to survival will change, as Spencer himself realized. According to Richard Dawkin, "such struggle engages not only human beings but lower beings too, all competing with each other for limited resources"1 (Bromberg). His philosophies are significant in realizing that human beings, in spite of everything, still act reluctantly on a biological level. The use of intelligence, as in the construction of aeroplanes and atomic bombs, and co-operation for

Managerial Accounting Essay Example | Topics and Well Written Essays - 1750 words - 1

Managerial Accounting - Essay Example The balanced scorecard method comprises of four different perspectives like, customer perspectives, financial perspectives, innovation and learning perspective and lastly the internal business process perspective. By the implementation of these perspectives the balance scorecard captures the lagging and the leading indicators which gives a balanced notion over the performance of the organisation. The leading indicators of the organisation measure the development of a new product, timely delivery of the product, satisfaction of the customer, competency of the employee, etc. However, under the lagging indicator of the organisation comes the financial measure of the organisation related to the profitability and its revenue growth. Thus the adoption of the balanced scorecard method is widely accepted around the globe because this enables the organisation in aligning staffs of all the levels under a single strategy for its successful execution. The main benefits that can be drawn from the implementation of the balanced scorecard method are the translation of the strategy into more easily understandable operational goals and metrics, alignment of the organisation around a coherent, single strategy, increasing the feasibility of strategy making it an attainable task for both the superiors and the subordinates as well, making the development of the strategy of the organisation a continuous process and lastly mobilizing change through effective and strong leadership (Johnson, n.d., pp.1-5). The main aim of balanced scorecard is to make a contribution towards the change of the factors related to the intangible assets and the long-term financial which would otherwise be uncontrollable. This has become feasible through the implementation of the perspectives of balanced scorecard. The main four perspectives of balanced score card has been mentioned earlier. Out of which the financial perspective shows the transformation of the strategy that leads to the economic success. Th us a double role is performed by the financial measure of the balanced scorecard. In application of the financial perspective of the balance scorecard in government arena differs from the private sectors. The objectives set by the financials of the private sector sets clear targets for profit seeking organisation which operates under a purely commercial environment. However, the success for the public undertakings is different in the sense that it is completely based on its efficiency and effectiveness to meet the needs of the constituencies. Thus, the financial perspective emphasises on the cost efficiency of the organisation so as to enhance the ability to deliver maximum value to the customers. The customer perspective of the balance scorecard method indicates the market segment under which the business of the organisation is operating. By means of appropriate strategic objectives, targets, measures and initiatives, the value proposition of the customer is represented in the cust omer perspective through which the organisation wants to draw competitive advantage in the envisaged market segments. In other words it can be said that the ability of the organisation to provide enhanced quality of goods and services through effective delivery services to gain overall customer satisfaction and service. However, in a

Total quality management (TQM) is a systemic approach to productivity Essay

Total quality management (TQM) is a systemic approach to productivity enhancement - Essay Example Although, above stated definitions with relative explanation satisfy the introduction of TQM; International Standard Organization1 defines it as, "TQM is a management approach for an organization, centered on quality, based on the participation of all its members and aiming at long-term success through customer satisfaction, and benefits to all members of the organization and to society." For an organization to implement TQM, it must maintain above stated quality standard in all aspects of its business. This requires ensuring that things are done right way the first time and that defects and waste are eliminated from operations. Globalization makes quality take place. As the companies get bigger, there is an increasing demand for Just In Time Management. This makes things move faster, while further approaching towards globalization while being responsible for the removal of tailback in manufacture along with resulting in high quality production. Therefore, it can be said that the impact of globalization on quality is positive. On the other hand, globalization has also brought some most important confrontations for quality2. The augmented struggle among organizations across the world is more forceful than before. This leads to the fact the producing the products at the lowest cost may win in the end; which implicates that the marketplace may only be motivated on price factor and not on all other factors which put in value to a product (Layne Gobrogg, journal article). When the marketplace grows to be sensitive to price only, service and quality suffer. Hence, what the world has seen in the recent times is exactly what has been discussed. Quality oriented textile industry in Pakistan has almost completely shifted to China which produces products at the lowest possible cost and minimal quality. This reflects the exact impact of how globalization affects quality, whether it be directly or indirectly. Traditional Management Styles vs. Quality Focused Management Styles: Total quality management has changed the traditional management style forever. Traditional style of management focuses on internal activities while assuming that products or services provided by organization are good in quality. However, total quality management focuses on the customer as the ultimate decider of the quality. Perhaps, the major difference between total quality management and traditional management style is the delegation of the authority with responsibility of the quality to the various levels of management, particularly to the middle level management. For this, TQM requires very high level of teamwork, unlike traditional style of management. Along with above stated differences, the other major difference is that TQM makes decisions on evidences of facts and figures, unlike traditional management style. Perhaps, this is the reason why TQM has been more successful than originally thought. Application of TQM: Before implementing TQM, top level management must have total faith in its implementation process3. TQM can be implemented in an organization through a step wise strategy. My strategy for Starbucks will be as following; 1. Appointment of a representative for coordinating the TQM implementation pr

The Role of Computers in Industrial Espionage Research Paper

The Role of Computers in Industrial Espionage - Research Paper Example is, sharing sensitive information with suitable parties while protecting that information against competitors, suppliers, vandals, foreign governments, and customers. The attempt to gain access to a company’s plans, products and clients’ information, and whatever trade secrets are, is considered as industrial espionage. It describes activities such as theft of a business formula, practices, processes, design, instrument, pattern, or any vital information which is generally not accessible because these give the company leverage from competitors. Some other acts associated to this are bribery, blackmail, and technological surveillance. Intellectual property crimes are grave offenses in their own right, â€Å"not because they inflict physical injury or death upon a person, but rather because they steal creative work from its owner.† (Nasheri,) It is inevitable that a company aspires to know the business moves of a rival business and this has been the primary concern of some of the largest companies in the world. They have an annual budget and pool of people to handle these concerns. While it is true that to â€Å"survive in tod ay’s cutthroat business environment, [one] must be properly armed. And one of the most important arrows in the businessman’s quiver is accurate knowledge of his competitors and business environment – in other words, detailed knowledge of the enemy and the terrain of the battlefield,† (Rustmann, 2004) it is however unfortunate that commonly this said conduct is illegal. Oftentimes, rival companies will browse through public records in order to pre-empt actions about another company. However, when the search becomes private, industrial espionage is an unlawful act and punishable with financial penalties and sometimes jail time. Furthermore, this may lead businesses to bankruptcy and also affect the ties of friendly nations for when it already surpasses national boundaries it can make allied nations momentarily are indecisive and doubt

Alternatives of interest and usury Essay Example | Topics and Well Written Essays - 1750 words

Alternatives of interest and usury - Essay Example Sweden has given a thought to implement a variant of an interest free system. As mentioned in Islam (2008), 35000 members of JAK Bank have saved 97 million Euros, of which 86 million were given as loans. JAK does not charge or pay interest on its loans. Administrative and developmental costs are paid by membership and loan fees. JAK has a variety of banking products all of which come into action by balancing the individual's saving point system. Carrie (2004) researched the work of JAK and concludes that the bank provides affordable and responsible finance and enables its members to have a say in where and how their money is invested. This shows that the outcome of interest free banking does not always relates to a dominantly Muslim country and can exist viably in a western capitalist state. Interest is generally thought as an extra amount charged over and above the principal amount which is accepted as unethical or unfair in Muslim world. A borrower is a person who is needy and a le nder exploits them by charging them with interest so a simple question of justifying the ethical basis of interest arises? This question may be answered by another question, is it alright that an already needy person is being oppressed? Our banking systems ultimately covert into an ugly vicious cycle consisting of a borrower and lender thus there exists a genuine need to find alternatives where interest speculation and gambling can be avoided with debt-like financing, futures and option like contracts and insurance/assurance-like products. Now coming over to debt financing, it is a kind of transaction that is solely dependent on interest! for example a person A needs to raise working capital for their company so they only way they have is to issue notes or bonds of, say $1000 to everyone now that investor will receive an interest of 10% of 10000 after four months. In simpler terms you can say that debt is borrowing money from an outside source with the promise to return the principa l, in addition to a agreed upon level of interest. Debt financing is one of the most used methods of financing. The reason why debt financing is so commonly used is that it helps maintain ownership because when you borrow from banks then you have to return the agreed amount on time however here you can choose the time of repayment for yourself without anybody else's interference. Moreover the most attractive factor is that you can decide the amount of interest rate yourself, it is an open option for you according to your budget, but we do need to find ways of excluding interest on it. Here the question is that is this possible? The best alternative is interest free equity financing. Equity financing is an act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership rights in the corporation. In most cases equity financing is preferred over debt financing especia lly where the company wants to move on an interest free basis. Here there is no interest cost, the company does not has to pay any interest to the amount provided by the owners ( the stockholders) in fact the cost of production remains low as there is no burden of interes

Information Security Small Businesses Research Paper

Information Security Small Businesses - Research Paper Example Therefore, the protection of information and data should be prioritized as one of the foremost steps in every organization, whether small or large. Identity theft and credit card frauds are aggravating crimes that are witnessed due to criminal acts of data thefts. Organizations around the world tend to suffer such thefts that jeopardize their reputation, and often face lawsuits from their clients. One such incident was witnessed last year with Sony PlayStation when their PlayStation network in the British division faced data theft. The Guardian (2011) reported that around 77 million users’ data was stolen. The stolen information included names, addresses, date of births, passwords and credit card numbers. The data thefts of such nature are likely to cause credit card frauds and bank frauds while attempting identity thefts. The online games service had to remain shut down for a week since they did not want the incident to recur before appropriate measures were taken to combat t he attack. Richmond Williams (2011) stated that such an enormous attack was likely to damage the reputation of Sony and threaten its capability to compete with other giant competitors such as Apple, Google, etc. It is also vital to ensure that information security measures are updated regularly to stop any intruder from taking advantage of any obsolete protection software (which is often noticed in small organizations). Alongside financial losses and reputation damages, ineffective information security measures are also likely to instigate legal actions and investigations against organizations. With reference to the example under discussion, a lawsuit was filed against Sony for not providing enough security to the data of their customers. The customers wanted compensation from Sony for the damages caused by the data theft at Sony. Jones (2011) stated that the respective company was likely to face as much as ?500,000 of fine for not being able to protect their customer’s sensi tive information. With the comprehension of the consequences of not implementing effective security measures, it is also important to understand the different types of vulnerabilities that exist in organizations. Confidentiality of data implies the safe keeping of data against any revelation without the approval of the owner of the information. The revelation of data might not be intentional by the organization; however, the data flow that is implemented for the transfer of the data might involve some unreliable third parties that might take advantage of such exposure of data. Data integrity implies that no change or corruption should happen to the data; such corruption and changes are likely to occur if effective information access procedures are not implemented. Availability of data refers to the presence of data and service upon the need of the customer and employees; cyber attacks on an organization can make an online service go offline or delete important data by adopting diffe rent types of intrusions and virus attacks etc. Authenticity and non-repudiation are interrelated concepts that involve the proof of identity of the interacting parties. Authenticity implies that the interacting

Aims And Objectives Essay Example for Free

Aims And Objectives Essay 1. To provide a Norway themed dining experience to customers during the operation with good quality of food and beverage, service and dining atmosphere (theme creation and restaurant environment). *good quality of food and beverage refers to the appearance, temperature, tastes and portion size of food and beverage **good quality of service refers to the attentiveness, upselling skills, grooming, politeness and serving skills ***good dining atmosphere refers the decoration, entertainment, restaurant music, table setup and the staff uniform Operational Objective 1.1 To achieve an average score of 4 in overall rating of food and beverage 1. 2 To achieve an average score of 3.5 in rating of each course and beverage item 1.3 To achieve an average score of 4 in restaurant environment 1.4 Over 75% of guests recognize the theme of restaurant are traditional Norwegian Life Educational Aims 1. Integrate and apply theories and management skills in previous semester.

Plastics Recycling Business Plan

Plastics Recycling Business Plan Executive Summary Recently, the growing utilization of plastics are specifically used domestic purpose and produced from industrial and consumer applications and need Students Paper: and need to combined with increased consumer awareness surrounding solid waste recycling, has led to an increased demand for recycled plastic resins and products for our general consumer applications, combined with increased consumer awareness surrounding solid waste recycling, has led to an increased demand for recycled plastic resins and products. One of our general purposes. One of the quickest increasing Students Paper: quickest increasing types of collected plastic materials for recycling is polyethylene terephthalate (PET) from post-consumer beverage and water bottles. Replay Plastics will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division. The Company will create a PET cleaning and refining plant where located fastest growing types of collected plastic materials for recycling is polyethylene terephthalate (PET) from post-consumer beverage and water bottles. Replay Plastics will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division. The Company will create a PET cleaning and refining plant located in where Students Paper: plant where located in the western United States (all 16 major North American PET recycling plants are currently located in the eastern United States or Canada). To be and refining plant located in the western United States (all 16 major North American PET recycling plants are currently located in the eastern United States or Canada). Its initial ). To be honest, Students Paper: be honest, Its initial capacity will be 46 million pounds, and it will utilize post-consumer bottle feed stock presently collected in California, Oregon and Washington States, which collect over 200 million pounds per year. The Company will be vertically integrated and utilize almost all of its recycled material in its Packaging Division and any surplus materials (clean flake) produced will be sold to outside companies. The extruded sheet may then be sold to manufacturers who will thermoform it into high-visibility packaging or use it in other high value added manufacturing operations. The strapping will be sold to companies who ship large packages or pallets, such as the lumber milling industry. The Company currently has commitments available from customers to purchase the entire product or Canada). Its initial capacity will be 46 million pounds, and it will utilize post-consumer bottle feed stock presently collected in California, Oregon and Washington States, which collect over 200 million pounds per year. The Company will be vertically integrated, and use almost all of its recycled material in its Packaging Division. Any surplus materials (clean flake) produced will be sold to outside companies. The extruded sheet may then be sold to manufacturers, who will thermoform it into high-visibility packaging or use it in other high value added manufacturing operations. The strapping will be sold to companies who ship large packages or pallets, such as the lumber milling industry. The Company currently has commitments available from customers to purchase all of the product produced entire product produced. MANAGEMENT Ben Braddock, President who has experienced since 30-years of history and related with Students Paper: related with encompassing all aspects of Polymer Raw Material, Plastic Conversion Methods, and Venture Development. Moreover, he of experience encompassing all aspects of Polymer Raw Material, Plastic Conversion Methods, and Venture Development. He has . Moreover, he has founded great Students Paper: founded great ventures in the plastic converting industry, and assisted in the launch of five plastic converting manufacturing plants. In his personal founded successful ventures in the plastic converting industry, and assisted in the launch of five plastic converting manufacturing plants. Sam McGuire his personal life, Students Paper: personal life, Sam McGuire, Executive VP and COO, is a graduate Engineer with almost over manufacturing plants. Sam McGuire, Executive VP and COO, is a graduate Engineer with over 20 almost Students Paper: with almost over 20 years experience in the post-consumer plastics recycling industry and is the inventor of the primary cleaning refining technology used in the process for this project. He has received a patent for his technology and has been directly involved in over twenty-five major post consumer plastics recycling projects. Carl R. Smith, CFO, has over 30 years investment and merchant banking and management experience. He has assisted in raising over $500 million and served as board member and/or officer in over 40 public and private companies. FINANCIAL SUMMARY Moreover, after Engineer with over 20 years experience in the post-consumer plastics recycling industry and is the inventor of the primary cleaning refining technology used in the process for this project. He has received a patent for his technology and has been directly involved in over twenty-five major post consumer plastics recycling projects. Carl R. Smith, CFO, has over 30 years investment and merchant banking and management experience. He has assisted in raising over $500 million and served as board member and/or officer in over 40 public and private companies. FINANCIAL SUMMARY After a Moreover, after a four month grow- Students Paper: month grow-up period to build the recycling and packaging facilities, buy equipment, and incorporate the business, Replay Plastics will begin a quick turnaround of product. Sales will begin in May, and with over $15 Million in sales the first year, we will see a first year net profit of $2.3 Million. The owners are investing $500,000 each, for a total of $1.5 Million, and are securing an $800K long-term loan. The Company is also looking an month start-up period to build the recycling and packaging facilities, buy equipment, and incorporate the business, Replay Plastics will begin a quick turnaround of product. Sales will begin in May, and with over $15 Million in sales the first year, we will see a first year net profit of $2.3 Million. The owners are investing $500,000 each, for a total of $1.5 Million, and are securing an $800K long-term loan. The Company is also seeking an looking Students Paper: also looking an investment of $2,700,000 in order to begin operations. Then, these also seeking an investment of $2,700,000 in order to begin operations. These funds . Then, Students Paper: operations. Then, these funds will be used for the purchase of one recycling line and one manufacturing line, for create of begin operations. These funds will be used for the purchase of one recycling line and one manufacturing line, for the set up create Students Paper: for create of the plant facilities and for working capital. An outside investor providing this amount would receive 48% equity in Replay, and receive an IRR of 69% from simple dividends alone over the next 5 years. At the end of that period, we will consider a public offering of stock or a buy-out by a related business. Recent information on private sales of similar industry companies has indicated that transactions under $25 million have averaged 5.3 times EBITDA, while transactions in the range of $25-250 million have averaged over 7 times EBITDA. Further details can be found in the Financial Plan, below. 1.1 Objectives Sales passing $15 million in first year set up of the plant facilities and for working capital. An outside investor providing this amount would receive 48% equity in Replay, and receive an IRR of 69% from simple dividends alone over the next 5 years. At the end of that period, we will consider a public offering of stock or a buy-out by a related business. Recent information on private sales of similar industry companies has indicated that transactions under $25 million have averaged 5.3 times EBITDA, while transactions in the range of $25-250 million have averaged over 7 times EBITDA. Further details can be found in the Financial Plan, below. 1.1 Objectives Sales passing $15 million in firstyyear, $31 first Students Paper: in first year, $31 million in year 2, growing to $43 million. Gross margin in firstyyear, $31 million in year 2, growing to $43 million.y Gross . Gross margin of 35% or more in first Students Paper: in first year, 45% in second year then 50% or more. Net profit of in firstyyear, 45% in second year then 50% or more. Net profityof 13 profit of 13% in year one, then exceeding 20% Students Paper: exceeding 20% annually starting in year two. 1.2 Mission Replay Plastics is a generally manufacturing then exceedingy20% annually starting in year two. 1.2 Mission Replay Plastics is a manufacturing company generally Students Paper: a generally manufacturing company dedicated to converting waste plastic materials into commercially viable products, utilizing environmentally friendly recycling and manufacturing methods. We intend is a manufacturing company dedicated to converting waste plastic materials into commercially viable products, utilizing environmentally friendly recycling and manufacturing methods.yWe intend . We intend to make enough profit to generate a significant Students Paper: a significant return for our investors and to finance continued growth and continued development in quality products. We will generate aysignificant return for our investors and to finance continued growth and continued development in quality products.yWe will . We Students Paper: products. We will also maintain a friendly, fair, and creative work environment, which respects diversity, new ideas and hard work. 1.3 Keys to Success The main keys to the success of the Company are: Secure Supply- Contract for supply of post-consumer products.yWe will also maintain a friendly, fair, and creative work environment, which respects diversity, new ideas and hard work. 1.3 Keys to Success The main keys to the success of the Company are: Secure Supply- Contract for supply ofypost-consumerybottles post-consumer bottles Students Paper: consumer bottles and post-industrial manufacturing waste for PET raw material feed stock. Marketing Contractual arrangements ofypost-consumerybottles and post-industrial manufacturing waste for PET raw material feed stock. Marketing -yyContractual arrangementsyfor Contractual arrangements for Students Paper: arrangements for the sale of virtually all initial production. Management Strong senior management with extensive, broad-based, industry-specific experience. 1.4 Potential yyContractual arrangementsyfor the sale of virtually all initial production. Management Strong senior management with extensive, broad-based, industry-specific experience.http://www . Students Paper: specific experience. 1.4 Potential Risks Unavailable or scarce raw material feed stock for production Replay is confident that it has secured good availability of low cost post 934697d142204abeb7020c6e32f2e18d.png 1.4 Potential Risks Unavailable or scarce raw material feed stock for production Replay is confident that it has secured good availability of low costypost-consumer cost Students Paper: low cost post-consumer PET bottles (feed stock) derived from post-consumer beverage bottles from California based recycling collectors, and has back up sources identified. Technology employed may be unreliable or unproven Replay will use a proven, patented technology that was developed by one of its principals for the cleaning and recycling phase. The extrusion division will employ commercially proven technology the industry is employing unique recycled PET technology which is used by prominent eastern U.S. manufacturers of PET bottlesy(feed stock) derived from post-consumer beverage bottles from California based recycling collectors, and has back up sources identified. Technology employed may be unreliable or unproven Replay will use a proven, patented technology that was developed by one of its principals for the cleaning and recycling phase. The extrusion division will employ commercially proven technology the industry is employing unique recycled PET technology which is used by prominent eastern U.S. manufacturersyof PET manufacturers Students Paper: U.S. manufacturers of PET extrusions. There may not be a market for the Companys products The Industry-wide experience of the Management Team has allowed them to identify markets U.S. manufacturersyof PET extrusions. There may not be a market for the Companys products The Industry-wide experience of the Management Team has allowed them to identifyymarkets for identify markets for the Companys products. Their Students Paper: products. Their expertise and reputations have allowed them to obtain commitments for virtually all of the planned initial production. The location may products.yTheir expertise and reputations have allowed them to obtain commitments for virtually all of the planned initial production.y The Students Paper: initial production. The location may not be near enough to markets The markets that have production.y The location may not be near enough to markets Theymarkets that Students Paper: The markets that have been identified are primarily in the western U.S., which will markets Theymarkets that have been identified are primarily in the western U.S.,ywhich will , which will provide a distinct advantage Students Paper: distinct advantage to the Company because of freight costs and delivery timing. The Company may not be able to attract top distinct advantageyto the Company because of freight costs and delivery timing. The Company may not be able to attractytop managementy attract top Students Paper: attract top management The Company has assembled a world class management team with proven ability and direct experience in the Companys market segments. Company may not meet environmental standards This environmentally-favorable venture provides attractytop managementy The Company has assembled a world class management team with proven ability and direct experience in the Companys market segments. Company may not meet environmental standards This environmentally-favorable ventureyprovides for venture provides Students Paper: venture provides for the development of technically feasible and economically viable solutions to PET plastic beverage bottle recycling, as well as environmentally aware in-house re-use practices which filter and return nearly favorable ventureyprovides for the development of technically feasible and economically viable solutions to PET plastic beverage bottle recycling, as well as environmentally aware in-house re-use practices which filter and returnynearly all return nearly all of the process water Students Paper: process water to the production lines. The Company may not be able to sell all of its production capability Through the Senior Managements industry-wide contacts, the Company has identified potential customers and received commitments for all of the production potential of the initial facility. Company Summary The the processywater to the production lines. The Company may not be able to sell all of its production capability Through the Senior Managements industry-wide contacts, the Company has identified potential customers and received commitments for all of the production potential of the initial facility.yyyy Want Summary Students Paper: Company Summary The Company will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division. Recycling Division Using a Replay Plastics will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division. The Company will create a Using a patented process, Students Paper: patented process, the Company will create a PET cleaning and refining plant located in the western United States; we have Packaging Division. The Company will create a PET cleaning and refining plant located in the western United States (all 16 ; we have chosen this region because Students Paper: region because all 16 major North American PET recycling plants are currently located in the eastern United States or Canada, despite western the western United States (all 16 major North American PET recycling plants are currently located in the eastern United States or Canada). Its initial , despite western states favorable recycling attitudes among consumers. Its initial annual Students Paper: initial annual capacity will be 46 million pounds and it will utilize bottle feed Its initial capacity will be 46 million pounds, and it will utilize post-consumer bottle feed stock from Students Paper: stock from California, Oregon and Washington States, which collect over 200,000,000 pounds collected in California, Oregon and Washington States, which collect over 200 million 200,000,000 pounds per year. The Company will become totally vertically integrated, and use all or Students Paper: all or almost all of its recycled material in its Packaging Division. Any surplus material produced will and use almost all of its recycled material in its Packaging Division. Any surplus materials (clean flake produced will be sold to outside companies. Packaging Division We will create a plant (actual facilities to be shared with the Recycling Division) to manufacture extruded plastic roll stock sheet or high-strength strapping, employing state-of-the-art technology developed to utilize recycled PET resin. The extruded sheet will be primarily sold to thermoformers who will convert it into high visibility packaging, as well as laminators and fabricators. The strapping will be sold to commercial users for use as package or pallet strapping. The Company currently has commitments from customers to purchase all of the initial production capacity. Excess flake will be sold to outside customers. 2.1 Company Ownership Replay Plastics is owned by the initial founders, B. Braddock, S. McGuire and C. Smith, who are the proposed three executives of the operating entity. The plan was conceived and developed by these individuals, with the intent to apply their extensive experience and contacts in the industry to building a successful profitable corporation. 2.1.1 Potential Conflict Our COO, Mr. Sam McGuire, the inventor and patent holder of the recycling process to be used by the Company, is a principal in Company A of Chicago, IL. For many years, Company has designed, manufactured and assembled plastic recycling equipment, and has given us quotes on meeting our needs in this area. After a thorough investigation, Replay has found that Company A is able to source or supply the required equipment at considerably lower cost than any other company from which a quote was available. Mr. McGuire has disclosed that Company A has included a smaller than normal margin in their quote on goods they will manufacture, to cover overhead, contingency and profit which might result in a small benefit to him. They have agreed to source all of the equipment possible with no added margin. Replay has concluded that the savings available outweigh any other consideration and that we will purchase the cleaning and refining equipment from Company A. 2.2 Start-up Summary Our start-up expenses are budgeted at $210,000, which is mostly for on-site contractor services during facility preparation. $50,000 has been set aside for legal and accounting, $25,000 for special consulting that may be required during start up and $50,000 each for local engineering and lab equipment and supplies. $30,000 has been set aside as a contingency for the start up period. Our largest Start-up Requirement is the building of the recycling and extrusion facility. Its final value at completion is listed below as a long-term asset of $3,620,000 (excluding expensed items like consultants and engineering listed above). Aside from the building itself, we need $25,000 in machinery and fixtures, $500,000 of inventory (plastic bottle feed stock) and cash to cover us through the initial year. Start-up Funding Start-up Expenses to Fund $210,000 Start-up Assets to Fund $4,790,000 Total Funding Required $5,000,000 Assets Non-cash Assets from Start-up $4,145,000 Cash Requirements from Start-up $645,000 Additional Cash Raised $0 Cash Balance on Starting Date $645,000 Total Assets $4,790,000 Liabilities and Capital Liabilities Current Borrowing $0 Long-term Liabilities $800,000 Accounts Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities $800,000 Capital Planned Investment Founders $1,500,000 Investor $2,700,000 Additional Investment Requirement $0 Total Planned Investment $4,200,000 Loss at Start-up (Start-up Expenses) ($210,000) Total Capital $3,990,000 Total Capital and Liabilities $4,790,000 Total Funding $5,000,000 Start-up Requirements Start-up Expenses Legal Accounting $50,000 Stationery etc. $5,000 Consultants $25,000 Lab Equipment $50,000 Local Engineering $50,000 Misc Start up $30,000 Other $0 Total Start-up Expenses $210,000 Start-up Assets Cash Required $645,000 Start-up Inventory $500,000 Other Current Assets $25,000 Long-term Assets $3,620,000 Total Assets $4,790,000 Total Requirements $5,000,000 Products Replay Plastics will utilize two processes in the same facility to produce: Cleaned and recycled plastic PET flake (RPET), recovered from post-consumer beverage bottles and manufacturing waste produced by its sheet customers Extruded roll stock sheet PET. Extruded PET high-strength strapping for securing large packages or pallet loads; each using 100% RPET produced in-house 3.1 Product Description Roll stock sheet will be sold to custom thermoformers primarily to be used to produce high-visibility packaging. It will also be sold to manufacturers of laminates and fabricated plastic products. High strength PET packaging strapping is used to secure packages or pallets in such industries as lumber milling and corrugated and other paper production. Both products will be extruded from post-consumer polyethylene terephthalate (PET) bottles. The recycling programs in California, Washington and Oregon collect in excess of 200,000,000 pounds of PET bottles per annum. Replay initial capacity will be 46,000,000 pounds. Using a patented process, Replay will clean and refine the PET material from the post-consumer bottle stock and post-industrial manufacturing waste. The PET flake resin produced will be extruded into roll stock sheet or high-strength strapping. Although the Company expects to convert all of its bottle feed stock into extruded products, any surplus flake will be sold to outside manufacturers. 3.2 Competitive Comparison While quality and delivery are important factors to our potential clients, price is most often the determining factor in a buying decision. Good-quality packaging products manufactured from recycled (less expensive) resins, as close as practical to the end customers operations, will be most competitive and achieve a significant market share. These factors have helped to determine the business parameters of Replay Plastics. 3.3 Sourcing In excess of 200,000,000 pounds of post-consumer PET beverage bottles are collected and available as feed stock for manufacturers who can re-process this material into commercial products. The Company has excellent relations with the firms and associations that collect and distribute these materials and has been assured that its requirements will be available for the foreseeable future. The Company has entered negotiations with a California based source of post-consumer bottles and is confident that sufficient volumes are available on a contract basis from this source to satisfy its requirements. In addition, the Company intends to purchase production waste from its sheet customers and blend it into its feed stock. Currently, the majority of the post-consumer PET bottles collected in California, Oregon and Washington are exported to China. The Chinese have absorbed the amounts surplus to the use in North America. Their interest has kept the industry in the position of being able to maintain a steady price range for this bottle stock. A significant percentage of all sales of such bottle stock are managed by Plastics Recycling Corporation of California (PRCC), an industry funded marketing agency which operates similarly to a co-operative. They accept bids from potential buyers on behalf of the firms which act as consolidators, which accumulate stocks from the smaller, individual bottle-recycling depots. Some amount of the available stocks are regularly bought by recyclers in eastern North America who focus on the carpet manufacturers who use RPET resin in their process, but the high cost of transport from the western U.S. makes eastern sources more desirable. Replay has a good relationship with Company B, one of the larger consolidators in California. Company B has indicated a desire to contract to supply Replay with all of its raw material needs. They prefer to deal with a local consumer such as Replay, rather than the uncertainty and extra preparation requirements of the export market. There are other sources of post-consumer feed stock known to Replay, and we are confident that we will have sufficient materials available for our production needs. 3.4 Technology Sam McGuire, a key member of our Management team, is one of the original innovators of cleaning and refining technology for post-consumer PET, and we will be utilizing his patented process in our recycling facility. Sam has worked in the establishment and operation of facilities employing similar technologies over the last several years. On the manufacturing side, Management has been an integral part of the advancement of industry practices over the last twenty years or so, and includes in their knowledge base most, if not all, of the state-of-the-art available equipment and manufacturing techniques. Students Paper: manufacturing techniques. Market Analysis Summary Strong demand for recycled plastics is working in the industrys favor. Major users http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm 8 y Market Analysis Summary Strong demand for recycled plastics is working in the industrys favor.y Major . Students Paper: industrys favor. Major users of plastic packaging, apparently responding to consumer desires, have begun incorporating at least some recycled plastic content in their products as part of the growing interest in recycling. Recycled resin demand http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm favor.y Major users of plastic packaging, apparently responding to consumer desires, have begun incorporating at least some recycled plastic content in their products as part of the growing interest in recycling.y Recycled Students Paper: growing interest in recycling. Recycled resin demand is on the rise as prices for the two major recycled resins, PET and HDPE, continue to hold value or appreciate against their virgin counterparts. In volume, PET is currently the number one recycled resin. Supply of http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm recycling.y Recycled resin demand is on the rise as prices for the two major recycled resins, PET and HDPE, continue to hold value or appreciate against their virgin counterparts. In volume, PET is currently the number one recycled resin.ySupply of . Supply of recycled PET is in excess of 800 million pounds per year. This figure is expected to grow, reaching over 1 billion pounds during the next few years. Students Paper: few years. The plastics industry has developed new markets and applications for recycled resins from both post-consumer and post-industrial sources. PET leads the recycled recovered resins as the most visible and valuable, and its use is increasing. Of the http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm years.yThe plastics industry has developed new markets and applications for recycled resins from both post-consumer and post-industrial sources. PET leads the recycled recovered resins as the most visible and valuable, and its use is increasing.yOf the . Students Paper: is increasing. Of the total 3.7 billion pounds of PET consumed in 1997, just 16% was from recycled sources. Of the more than http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm increasing.yOf the total 3.7 billion pounds of PET consumed in 1997, just 16% was from recycled sources.yOf the Students Paper: just 16% was from recycled sources. Of the more than 90 billion pounds of plastics produced annually in the United States, less than 5% is from recycled sources. Plastics, after aluminium http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm sources.yOf the more than 90 billion pounds of plastics produced annually in the United States, less than 5% is from recycled sources.yPlastics, after Students Paper: recycled sources. Plastics, after aluminium, represent the second highest value material in the waste stream and have the highest projected growth rate. Markets and uses for recycled plastics are rapidly expanding. Plastic containers are http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm sources.yPlastics, after aluminium, represent the second highest value material in the waste stream and have the highest projected growth rate. Markets and uses for recycled plastics are rapidly expanding.yPlastic containers Students Paper: expanding. Plastic containers are being collected at the curb for recycling in nearly 500 communities, representing more than 4 million households. U.S. demand http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm expanding.yP Plastics Recycling Business Plan Plastics Recycling Business Plan Executive Summary Recently, the growing utilization of plastics are specifically used domestic purpose and produced from industrial and consumer applications and need Students Paper: and need to combined with increased consumer awareness surrounding solid waste recycling, has led to an increased demand for recycled plastic resins and products for our general consumer applications, combined with increased consumer awareness surrounding solid waste recycling, has led to an increased demand for recycled plastic resins and products. One of our general purposes. One of the quickest increasing Students Paper: quickest increasing types of collected plastic materials for recycling is polyethylene terephthalate (PET) from post-consumer beverage and water bottles. Replay Plastics will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division. The Company will create a PET cleaning and refining plant where located fastest growing types of collected plastic materials for recycling is polyethylene terephthalate (PET) from post-consumer beverage and water bottles. Replay Plastics will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division. The Company will create a PET cleaning and refining plant located in where Students Paper: plant where located in the western United States (all 16 major North American PET recycling plants are currently located in the eastern United States or Canada). To be and refining plant located in the western United States (all 16 major North American PET recycling plants are currently located in the eastern United States or Canada). Its initial ). To be honest, Students Paper: be honest, Its initial capacity will be 46 million pounds, and it will utilize post-consumer bottle feed stock presently collected in California, Oregon and Washington States, which collect over 200 million pounds per year. The Company will be vertically integrated and utilize almost all of its recycled material in its Packaging Division and any surplus materials (clean flake) produced will be sold to outside companies. The extruded sheet may then be sold to manufacturers who will thermoform it into high-visibility packaging or use it in other high value added manufacturing operations. The strapping will be sold to companies who ship large packages or pallets, such as the lumber milling industry. The Company currently has commitments available from customers to purchase the entire product or Canada). Its initial capacity will be 46 million pounds, and it will utilize post-consumer bottle feed stock presently collected in California, Oregon and Washington States, which collect over 200 million pounds per year. The Company will be vertically integrated, and use almost all of its recycled material in its Packaging Division. Any surplus materials (clean flake) produced will be sold to outside companies. The extruded sheet may then be sold to manufacturers, who will thermoform it into high-visibility packaging or use it in other high value added manufacturing operations. The strapping will be sold to companies who ship large packages or pallets, such as the lumber milling industry. The Company currently has commitments available from customers to purchase all of the product produced entire product produced. MANAGEMENT Ben Braddock, President who has experienced since 30-years of history and related with Students Paper: related with encompassing all aspects of Polymer Raw Material, Plastic Conversion Methods, and Venture Development. Moreover, he of experience encompassing all aspects of Polymer Raw Material, Plastic Conversion Methods, and Venture Development. He has . Moreover, he has founded great Students Paper: founded great ventures in the plastic converting industry, and assisted in the launch of five plastic converting manufacturing plants. In his personal founded successful ventures in the plastic converting industry, and assisted in the launch of five plastic converting manufacturing plants. Sam McGuire his personal life, Students Paper: personal life, Sam McGuire, Executive VP and COO, is a graduate Engineer with almost over manufacturing plants. Sam McGuire, Executive VP and COO, is a graduate Engineer with over 20 almost Students Paper: with almost over 20 years experience in the post-consumer plastics recycling industry and is the inventor of the primary cleaning refining technology used in the process for this project. He has received a patent for his technology and has been directly involved in over twenty-five major post consumer plastics recycling projects. Carl R. Smith, CFO, has over 30 years investment and merchant banking and management experience. He has assisted in raising over $500 million and served as board member and/or officer in over 40 public and private companies. FINANCIAL SUMMARY Moreover, after Engineer with over 20 years experience in the post-consumer plastics recycling industry and is the inventor of the primary cleaning refining technology used in the process for this project. He has received a patent for his technology and has been directly involved in over twenty-five major post consumer plastics recycling projects. Carl R. Smith, CFO, has over 30 years investment and merchant banking and management experience. He has assisted in raising over $500 million and served as board member and/or officer in over 40 public and private companies. FINANCIAL SUMMARY After a Moreover, after a four month grow- Students Paper: month grow-up period to build the recycling and packaging facilities, buy equipment, and incorporate the business, Replay Plastics will begin a quick turnaround of product. Sales will begin in May, and with over $15 Million in sales the first year, we will see a first year net profit of $2.3 Million. The owners are investing $500,000 each, for a total of $1.5 Million, and are securing an $800K long-term loan. The Company is also looking an month start-up period to build the recycling and packaging facilities, buy equipment, and incorporate the business, Replay Plastics will begin a quick turnaround of product. Sales will begin in May, and with over $15 Million in sales the first year, we will see a first year net profit of $2.3 Million. The owners are investing $500,000 each, for a total of $1.5 Million, and are securing an $800K long-term loan. The Company is also seeking an looking Students Paper: also looking an investment of $2,700,000 in order to begin operations. Then, these also seeking an investment of $2,700,000 in order to begin operations. These funds . Then, Students Paper: operations. Then, these funds will be used for the purchase of one recycling line and one manufacturing line, for create of begin operations. These funds will be used for the purchase of one recycling line and one manufacturing line, for the set up create Students Paper: for create of the plant facilities and for working capital. An outside investor providing this amount would receive 48% equity in Replay, and receive an IRR of 69% from simple dividends alone over the next 5 years. At the end of that period, we will consider a public offering of stock or a buy-out by a related business. Recent information on private sales of similar industry companies has indicated that transactions under $25 million have averaged 5.3 times EBITDA, while transactions in the range of $25-250 million have averaged over 7 times EBITDA. Further details can be found in the Financial Plan, below. 1.1 Objectives Sales passing $15 million in first year set up of the plant facilities and for working capital. An outside investor providing this amount would receive 48% equity in Replay, and receive an IRR of 69% from simple dividends alone over the next 5 years. At the end of that period, we will consider a public offering of stock or a buy-out by a related business. Recent information on private sales of similar industry companies has indicated that transactions under $25 million have averaged 5.3 times EBITDA, while transactions in the range of $25-250 million have averaged over 7 times EBITDA. Further details can be found in the Financial Plan, below. 1.1 Objectives Sales passing $15 million in firstyyear, $31 first Students Paper: in first year, $31 million in year 2, growing to $43 million. Gross margin in firstyyear, $31 million in year 2, growing to $43 million.y Gross . Gross margin of 35% or more in first Students Paper: in first year, 45% in second year then 50% or more. Net profit of in firstyyear, 45% in second year then 50% or more. Net profityof 13 profit of 13% in year one, then exceeding 20% Students Paper: exceeding 20% annually starting in year two. 1.2 Mission Replay Plastics is a generally manufacturing then exceedingy20% annually starting in year two. 1.2 Mission Replay Plastics is a manufacturing company generally Students Paper: a generally manufacturing company dedicated to converting waste plastic materials into commercially viable products, utilizing environmentally friendly recycling and manufacturing methods. We intend is a manufacturing company dedicated to converting waste plastic materials into commercially viable products, utilizing environmentally friendly recycling and manufacturing methods.yWe intend . We intend to make enough profit to generate a significant Students Paper: a significant return for our investors and to finance continued growth and continued development in quality products. We will generate aysignificant return for our investors and to finance continued growth and continued development in quality products.yWe will . We Students Paper: products. We will also maintain a friendly, fair, and creative work environment, which respects diversity, new ideas and hard work. 1.3 Keys to Success The main keys to the success of the Company are: Secure Supply- Contract for supply of post-consumer products.yWe will also maintain a friendly, fair, and creative work environment, which respects diversity, new ideas and hard work. 1.3 Keys to Success The main keys to the success of the Company are: Secure Supply- Contract for supply ofypost-consumerybottles post-consumer bottles Students Paper: consumer bottles and post-industrial manufacturing waste for PET raw material feed stock. Marketing Contractual arrangements ofypost-consumerybottles and post-industrial manufacturing waste for PET raw material feed stock. Marketing -yyContractual arrangementsyfor Contractual arrangements for Students Paper: arrangements for the sale of virtually all initial production. Management Strong senior management with extensive, broad-based, industry-specific experience. 1.4 Potential yyContractual arrangementsyfor the sale of virtually all initial production. Management Strong senior management with extensive, broad-based, industry-specific experience.http://www . Students Paper: specific experience. 1.4 Potential Risks Unavailable or scarce raw material feed stock for production Replay is confident that it has secured good availability of low cost post 934697d142204abeb7020c6e32f2e18d.png 1.4 Potential Risks Unavailable or scarce raw material feed stock for production Replay is confident that it has secured good availability of low costypost-consumer cost Students Paper: low cost post-consumer PET bottles (feed stock) derived from post-consumer beverage bottles from California based recycling collectors, and has back up sources identified. Technology employed may be unreliable or unproven Replay will use a proven, patented technology that was developed by one of its principals for the cleaning and recycling phase. The extrusion division will employ commercially proven technology the industry is employing unique recycled PET technology which is used by prominent eastern U.S. manufacturers of PET bottlesy(feed stock) derived from post-consumer beverage bottles from California based recycling collectors, and has back up sources identified. Technology employed may be unreliable or unproven Replay will use a proven, patented technology that was developed by one of its principals for the cleaning and recycling phase. The extrusion division will employ commercially proven technology the industry is employing unique recycled PET technology which is used by prominent eastern U.S. manufacturersyof PET manufacturers Students Paper: U.S. manufacturers of PET extrusions. There may not be a market for the Companys products The Industry-wide experience of the Management Team has allowed them to identify markets U.S. manufacturersyof PET extrusions. There may not be a market for the Companys products The Industry-wide experience of the Management Team has allowed them to identifyymarkets for identify markets for the Companys products. Their Students Paper: products. Their expertise and reputations have allowed them to obtain commitments for virtually all of the planned initial production. The location may products.yTheir expertise and reputations have allowed them to obtain commitments for virtually all of the planned initial production.y The Students Paper: initial production. The location may not be near enough to markets The markets that have production.y The location may not be near enough to markets Theymarkets that Students Paper: The markets that have been identified are primarily in the western U.S., which will markets Theymarkets that have been identified are primarily in the western U.S.,ywhich will , which will provide a distinct advantage Students Paper: distinct advantage to the Company because of freight costs and delivery timing. The Company may not be able to attract top distinct advantageyto the Company because of freight costs and delivery timing. The Company may not be able to attractytop managementy attract top Students Paper: attract top management The Company has assembled a world class management team with proven ability and direct experience in the Companys market segments. Company may not meet environmental standards This environmentally-favorable venture provides attractytop managementy The Company has assembled a world class management team with proven ability and direct experience in the Companys market segments. Company may not meet environmental standards This environmentally-favorable ventureyprovides for venture provides Students Paper: venture provides for the development of technically feasible and economically viable solutions to PET plastic beverage bottle recycling, as well as environmentally aware in-house re-use practices which filter and return nearly favorable ventureyprovides for the development of technically feasible and economically viable solutions to PET plastic beverage bottle recycling, as well as environmentally aware in-house re-use practices which filter and returnynearly all return nearly all of the process water Students Paper: process water to the production lines. The Company may not be able to sell all of its production capability Through the Senior Managements industry-wide contacts, the Company has identified potential customers and received commitments for all of the production potential of the initial facility. Company Summary The the processywater to the production lines. The Company may not be able to sell all of its production capability Through the Senior Managements industry-wide contacts, the Company has identified potential customers and received commitments for all of the production potential of the initial facility.yyyy Want Summary Students Paper: Company Summary The Company will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division. Recycling Division Using a Replay Plastics will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division. The Company will create a Using a patented process, Students Paper: patented process, the Company will create a PET cleaning and refining plant located in the western United States; we have Packaging Division. The Company will create a PET cleaning and refining plant located in the western United States (all 16 ; we have chosen this region because Students Paper: region because all 16 major North American PET recycling plants are currently located in the eastern United States or Canada, despite western the western United States (all 16 major North American PET recycling plants are currently located in the eastern United States or Canada). Its initial , despite western states favorable recycling attitudes among consumers. Its initial annual Students Paper: initial annual capacity will be 46 million pounds and it will utilize bottle feed Its initial capacity will be 46 million pounds, and it will utilize post-consumer bottle feed stock from Students Paper: stock from California, Oregon and Washington States, which collect over 200,000,000 pounds collected in California, Oregon and Washington States, which collect over 200 million 200,000,000 pounds per year. The Company will become totally vertically integrated, and use all or Students Paper: all or almost all of its recycled material in its Packaging Division. Any surplus material produced will and use almost all of its recycled material in its Packaging Division. Any surplus materials (clean flake produced will be sold to outside companies. Packaging Division We will create a plant (actual facilities to be shared with the Recycling Division) to manufacture extruded plastic roll stock sheet or high-strength strapping, employing state-of-the-art technology developed to utilize recycled PET resin. The extruded sheet will be primarily sold to thermoformers who will convert it into high visibility packaging, as well as laminators and fabricators. The strapping will be sold to commercial users for use as package or pallet strapping. The Company currently has commitments from customers to purchase all of the initial production capacity. Excess flake will be sold to outside customers. 2.1 Company Ownership Replay Plastics is owned by the initial founders, B. Braddock, S. McGuire and C. Smith, who are the proposed three executives of the operating entity. The plan was conceived and developed by these individuals, with the intent to apply their extensive experience and contacts in the industry to building a successful profitable corporation. 2.1.1 Potential Conflict Our COO, Mr. Sam McGuire, the inventor and patent holder of the recycling process to be used by the Company, is a principal in Company A of Chicago, IL. For many years, Company has designed, manufactured and assembled plastic recycling equipment, and has given us quotes on meeting our needs in this area. After a thorough investigation, Replay has found that Company A is able to source or supply the required equipment at considerably lower cost than any other company from which a quote was available. Mr. McGuire has disclosed that Company A has included a smaller than normal margin in their quote on goods they will manufacture, to cover overhead, contingency and profit which might result in a small benefit to him. They have agreed to source all of the equipment possible with no added margin. Replay has concluded that the savings available outweigh any other consideration and that we will purchase the cleaning and refining equipment from Company A. 2.2 Start-up Summary Our start-up expenses are budgeted at $210,000, which is mostly for on-site contractor services during facility preparation. $50,000 has been set aside for legal and accounting, $25,000 for special consulting that may be required during start up and $50,000 each for local engineering and lab equipment and supplies. $30,000 has been set aside as a contingency for the start up period. Our largest Start-up Requirement is the building of the recycling and extrusion facility. Its final value at completion is listed below as a long-term asset of $3,620,000 (excluding expensed items like consultants and engineering listed above). Aside from the building itself, we need $25,000 in machinery and fixtures, $500,000 of inventory (plastic bottle feed stock) and cash to cover us through the initial year. Start-up Funding Start-up Expenses to Fund $210,000 Start-up Assets to Fund $4,790,000 Total Funding Required $5,000,000 Assets Non-cash Assets from Start-up $4,145,000 Cash Requirements from Start-up $645,000 Additional Cash Raised $0 Cash Balance on Starting Date $645,000 Total Assets $4,790,000 Liabilities and Capital Liabilities Current Borrowing $0 Long-term Liabilities $800,000 Accounts Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities $800,000 Capital Planned Investment Founders $1,500,000 Investor $2,700,000 Additional Investment Requirement $0 Total Planned Investment $4,200,000 Loss at Start-up (Start-up Expenses) ($210,000) Total Capital $3,990,000 Total Capital and Liabilities $4,790,000 Total Funding $5,000,000 Start-up Requirements Start-up Expenses Legal Accounting $50,000 Stationery etc. $5,000 Consultants $25,000 Lab Equipment $50,000 Local Engineering $50,000 Misc Start up $30,000 Other $0 Total Start-up Expenses $210,000 Start-up Assets Cash Required $645,000 Start-up Inventory $500,000 Other Current Assets $25,000 Long-term Assets $3,620,000 Total Assets $4,790,000 Total Requirements $5,000,000 Products Replay Plastics will utilize two processes in the same facility to produce: Cleaned and recycled plastic PET flake (RPET), recovered from post-consumer beverage bottles and manufacturing waste produced by its sheet customers Extruded roll stock sheet PET. Extruded PET high-strength strapping for securing large packages or pallet loads; each using 100% RPET produced in-house 3.1 Product Description Roll stock sheet will be sold to custom thermoformers primarily to be used to produce high-visibility packaging. It will also be sold to manufacturers of laminates and fabricated plastic products. High strength PET packaging strapping is used to secure packages or pallets in such industries as lumber milling and corrugated and other paper production. Both products will be extruded from post-consumer polyethylene terephthalate (PET) bottles. The recycling programs in California, Washington and Oregon collect in excess of 200,000,000 pounds of PET bottles per annum. Replay initial capacity will be 46,000,000 pounds. Using a patented process, Replay will clean and refine the PET material from the post-consumer bottle stock and post-industrial manufacturing waste. The PET flake resin produced will be extruded into roll stock sheet or high-strength strapping. Although the Company expects to convert all of its bottle feed stock into extruded products, any surplus flake will be sold to outside manufacturers. 3.2 Competitive Comparison While quality and delivery are important factors to our potential clients, price is most often the determining factor in a buying decision. Good-quality packaging products manufactured from recycled (less expensive) resins, as close as practical to the end customers operations, will be most competitive and achieve a significant market share. These factors have helped to determine the business parameters of Replay Plastics. 3.3 Sourcing In excess of 200,000,000 pounds of post-consumer PET beverage bottles are collected and available as feed stock for manufacturers who can re-process this material into commercial products. The Company has excellent relations with the firms and associations that collect and distribute these materials and has been assured that its requirements will be available for the foreseeable future. The Company has entered negotiations with a California based source of post-consumer bottles and is confident that sufficient volumes are available on a contract basis from this source to satisfy its requirements. In addition, the Company intends to purchase production waste from its sheet customers and blend it into its feed stock. Currently, the majority of the post-consumer PET bottles collected in California, Oregon and Washington are exported to China. The Chinese have absorbed the amounts surplus to the use in North America. Their interest has kept the industry in the position of being able to maintain a steady price range for this bottle stock. A significant percentage of all sales of such bottle stock are managed by Plastics Recycling Corporation of California (PRCC), an industry funded marketing agency which operates similarly to a co-operative. They accept bids from potential buyers on behalf of the firms which act as consolidators, which accumulate stocks from the smaller, individual bottle-recycling depots. Some amount of the available stocks are regularly bought by recyclers in eastern North America who focus on the carpet manufacturers who use RPET resin in their process, but the high cost of transport from the western U.S. makes eastern sources more desirable. Replay has a good relationship with Company B, one of the larger consolidators in California. Company B has indicated a desire to contract to supply Replay with all of its raw material needs. They prefer to deal with a local consumer such as Replay, rather than the uncertainty and extra preparation requirements of the export market. There are other sources of post-consumer feed stock known to Replay, and we are confident that we will have sufficient materials available for our production needs. 3.4 Technology Sam McGuire, a key member of our Management team, is one of the original innovators of cleaning and refining technology for post-consumer PET, and we will be utilizing his patented process in our recycling facility. Sam has worked in the establishment and operation of facilities employing similar technologies over the last several years. On the manufacturing side, Management has been an integral part of the advancement of industry practices over the last twenty years or so, and includes in their knowledge base most, if not all, of the state-of-the-art available equipment and manufacturing techniques. Students Paper: manufacturing techniques. Market Analysis Summary Strong demand for recycled plastics is working in the industrys favor. Major users http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm 8 y Market Analysis Summary Strong demand for recycled plastics is working in the industrys favor.y Major . Students Paper: industrys favor. Major users of plastic packaging, apparently responding to consumer desires, have begun incorporating at least some recycled plastic content in their products as part of the growing interest in recycling. Recycled resin demand http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm favor.y Major users of plastic packaging, apparently responding to consumer desires, have begun incorporating at least some recycled plastic content in their products as part of the growing interest in recycling.y Recycled Students Paper: growing interest in recycling. Recycled resin demand is on the rise as prices for the two major recycled resins, PET and HDPE, continue to hold value or appreciate against their virgin counterparts. In volume, PET is currently the number one recycled resin. Supply of http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm recycling.y Recycled resin demand is on the rise as prices for the two major recycled resins, PET and HDPE, continue to hold value or appreciate against their virgin counterparts. In volume, PET is currently the number one recycled resin.ySupply of . Supply of recycled PET is in excess of 800 million pounds per year. This figure is expected to grow, reaching over 1 billion pounds during the next few years. Students Paper: few years. The plastics industry has developed new markets and applications for recycled resins from both post-consumer and post-industrial sources. PET leads the recycled recovered resins as the most visible and valuable, and its use is increasing. Of the http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm years.yThe plastics industry has developed new markets and applications for recycled resins from both post-consumer and post-industrial sources. PET leads the recycled recovered resins as the most visible and valuable, and its use is increasing.yOf the . Students Paper: is increasing. Of the total 3.7 billion pounds of PET consumed in 1997, just 16% was from recycled sources. Of the more than http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm increasing.yOf the total 3.7 billion pounds of PET consumed in 1997, just 16% was from recycled sources.yOf the Students Paper: just 16% was from recycled sources. Of the more than 90 billion pounds of plastics produced annually in the United States, less than 5% is from recycled sources. Plastics, after aluminium http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm sources.yOf the more than 90 billion pounds of plastics produced annually in the United States, less than 5% is from recycled sources.yPlastics, after Students Paper: recycled sources. Plastics, after aluminium, represent the second highest value material in the waste stream and have the highest projected growth rate. Markets and uses for recycled plastics are rapidly expanding. Plastic containers are http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm sources.yPlastics, after aluminium, represent the second highest value material in the waste stream and have the highest projected growth rate. Markets and uses for recycled plastics are rapidly expanding.yPlastic containers Students Paper: expanding. Plastic containers are being collected at the curb for recycling in nearly 500 communities, representing more than 4 million households. U.S. demand http://www.bplans.com/plastics_recycling_business_plan/market_analysis_summary_fc.cfm expanding.yP