Budget Proposal Assignment Example | Topics and Well Written Essays - 1000 words

Spending Proposal - Assignment Example Despite the fact that the economy has seen decline in joblessness, there is as yet an enormous extent who has neglected to secure all day positions. Corporate benefits have risen significantly, however the compensation rate and pay level has neglected to observe a similar development. It should concentrate more on increasing the value of the rising white collar class and make a center point for occupations. It should work for some and not for few. US should attempt to pull in progressively cutting edge employments for its white collar class. A developing white collar class is a key marker of a developing economy. Bringing occupations won't take care of the issue, yet its kin ought to be taught, prepared and better prepared to meet the necessity of the employments. This won't just improve the per capita salary of US, yet will likewise make high income for the administration through enormous base of citizens (Mankiw, 2008). They key zones that ought to be the principle center towards a decent financial plan would incorporate parts like, foundation and advancement, instruction, clean vitality, private company, assembling, wellbeing and resistance. These are the basic zones of government consumption that are to be expanded while different parts ought to be diminished. Different divisions incorporate equity, transportation, SSA, Science establishment, treasury, inside, veteran undertakings, agribusiness, and so on. From the income the planned expense assortment ought to be expanded. The sources incorporate personal duty, corporate expense, government disability assessment, extract and customs. Home and blessing expense to be diminished. The particular objective regions incorporate the segments that will help enlarge the income for the administration and altogether decrease the spending shortage. In spite of the fact that it is absolutely unrealistic to wipe out the shortfall in the short run, yet it tends to be decreased to a manageable level. All the parts are basic to the development of the economy, yet there are sure divisions as referenced over that needs government help to supplement the vision of building up the working class and making occupations. Wellbeing and

Custom Term Paper Writing Services

Custom Term Paper Writing ServicesCustom term paper writing services can do a lot for you. Using these services is certainly a great idea because they can help you with the perfect writing that you need. Not only can they write the paper to be grammatically correct, but they also have access to top professors as well as past students, which make their services even more valuable.Before you hire a writer, however, you need to know exactly what custom term paper writing services can do for you. Most of them offer a variety of writing tips, such as these: editing, revising, and writing out important details. While these services are great, it's also important to get feedback from people who have used their services, so you can use this information to help make your work better.Another tip for using custom term paper writing services is to choose a professional that is well-versed in your field. Be wary of people who claim to be specialists in your field but really aren't. Your term pape r should be your creation, not theirs. If your professor uses the word 'this'that' at the beginning of his paper, he may not be the person to edit it or revise it.It's also important to check in on how well the writer writes in general. Is he or she able to use proper grammar and punctuation? The last thing you want is to have a very good writing service pick a bad sentence from your paper.Another reason you may want to use custom term paper writing services is that they will give you the option of either giving them an outline or a draft. They can then review it and add to it as you change your mind. This makes it much easier to write a good term paper because you won't have to worry about it for another two months. There are also many different writing services available, so you will likely be able to find one that best fits your needs.One last great tip for using custom term paper writing services is that they can tell you which parts of your paper should be highlighted and which should be made less prominent. You should always use these tips when writing your paper, as it will make it easier for you to organize and write the way you want to. It will also make your professor happy, and you might be surprised by how easy it is to write the paper without him knowing about it.In conclusion, there are many great reasons why you should hire a writer to write your term paper. The first step is to take a look at the specific type of term paper that you need, which will give you a better idea of who you want to hire. Check in on your professor, as well, so you can get some ideas about his preferences and how he will be addressing your work.Finally, try to consider hiring a writer to write your term paper who specializes in your field. Although most services work with any type of paper, a writer that specializes in your field will be able to write your paper to the best of their ability. Make sure you know exactly what services are available before you start looking , so you can choose the one that best fits your needs.

The effect o temperature on a Reaction time free essay sample

Dynamic: This venture takes a gander at how the temperature of an analysis can influence its response time. The reason for this examination is to decide whether dissolving responses are influenced by waters temperature. I accept that in the event that the H2O temperature expands, at that point the Alka-Seltzer tablet will break down quicker on the grounds that the high temp water atoms will move quicker crashing into the tablet particles. Water will be the autonomous variable because of the truth of the matter is will consistently remain in its equivalent structure all through the investigation. The Manipulated variable will likewise be the water, since I will be changing its temperature. The Responding the variable will be the planning of how quick or moderate the Alka-Seltzer tablet breaks up. What's more, the control is the glass of water that is set at cold faucet water. The task will include the testing of three diverse water temperatures. One at hot faucet water, one at cold faucet water, and ice water. We will compose a custom article test on The impact o temperature on a Reaction time or on the other hand any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page 1 cup of water at every temperature will be filled a similar glass, and have its temperature recorded. Subsequent to doing so each water temperature will experience five preliminaries with one Alka-Seltzer tablet being dropped into the glass each time, recording to what extent it takes for the tablet to break down. In the wake of testing my theory, my outcomes were legitimized. When looking at how the Alka-Seltzer tablet broke up in the hot temperature water and how it disintegrated exposed temperature water. It demonstrated that the more blazing the temperature of the H2O was the quicker the Alka-Seltzer tablet broke down. Materials and Equipment: Alka-Seltzer tablets (at any rate 12; on the off chance that you intend to do extra varieties to the undertaking, you will need to get a bigger box) Thermometer with a scope of in any event 0Â °C to 60Â °C Clear drinking glass or container (12 ounce [355 mL] or bigger) Graduated chamber, 100 mL. A 100 mL graduated chamber Covering tape Something to mix with, for example, a spoon or a chopstick Hot and cold faucet water Ice Stopwatch or a clock or watch with a second hand An assistant Lab journal Pencil Methods: 1. Set up a drinking glass that is set apart at the 250 ml point. This glass will utilized for various preliminaries, so it is advantageous to stamp the ideal water level. a. Include 250 mL or 1 cup of water to the drinking glass b. Utilize a bit of veiling tape outwardly of the glass to stamp the water level, putting it with its top edge, even with the water level in the glass. c. Cautioning: Do not fill the glass totally full on the grounds that the bicarbonate response will create bubbles that could sprinkle out. 2. Fill the drinking glass with a similar volume of water at three unique temperatures: Hot faucet water, cold faucet water, and ice water. a. For the hot and cold faucet water, have the water until fever balances out. Fill glass with water to the degree of the veiling tape. b. For ice water, fill the glass with about half full with ice shapes, at that point add cold faucet water to somewhat over the degree of the covering tape. Mix for a moment or two with the goal that the temperature is balanced out. When balanced out, expel ice 3D shapes from water’s surface utilizing a spoon preceding including the Alka-Seltzer tablets. Likewise pour any additional water so the water is up to level with concealing tape. 3. Set up the drinking glass with one of the three temperatures as portrayed in sync 2. At that point measure the response time for that temperature. a. In the wake of topping the glass off to veiling tape, measure the temperature and record information. At that point evacuate thermometer. b. When gotten done with that, get readied with the stop watch and the Alka-Seltzer tablet. When beginning the stop watch, the Alka-Seltzer tablet ought to be dropped in the water. c. Air pockets of CO2 will start to stream out from the tablet. d. Mix the water tenderly and consistently. Utilize a similar mixing technique and speed utilized for every exploratory preliminary. The tablet will start to deteriorate. e. When the Alka-Seltzer tablet is totally broken down in the water, stop the stop watch and record information. 4. Rehash stage 3, five additional time with a similar temperature 5. Rehash stage 3 and 4 for every one of different temperatures. 6. Figure the normal response time, in seconds versus water temperature in degrees Celsius 7. Clarify Results Information: Condition Temperature Response Time (s) Normal Reaction Time (s) Preliminary #1 Preliminary #2 Preliminary #3 Preliminary #4 Preliminary #5 Hot Tap Water 38.0 Â °c 22.85 s 22.3 s 21.11s 22.48 s 23.25 s 22.4 s Cold Tap Water 19.2 Â °c 45.46 s 42.31 s 43.32 s 53.57 s 51.05 s 47.1 s Ice Water 9.8 Â °c 81.98 s 82.93 s 85. 68 s 101.89 s 92.84 s 89.1 s Examination and Discussion: Through the procedure of this trial, it has indicated that the more blazing the temperature of the water is the quicker the Alka-Seltzer tablet starts to break up in the water. Demonstrating that temperature has an impact on the response time of a trial. As appeared in the information over, The Alka-Seltzer tablet’s rate at dissolving expanded as the water temperature got colder and diminished as the water temperature got more sweltering. This hypothesis is dependent on the Kinetic Theory of Matter, which expresses that particles and atoms are in steady movement and that the higher the temperature around them, the more prominent their speed will be. Or on the other hand at the end of the day, expanded warmth vitality will make iotas and atoms move quicker. End: My speculation was that the more warmed the water was, the quicker the Alka-Seltzer tablet will break down, and in the wake of testing this. My outcomes do bolster my speculation. I discovered that boiling water causes particles to break up quicker because of motor vitality cause by the high temp water atoms crashing into the tablet particles. Demonstrating that the more warmed the water is, the quicker the Alka-Seltzer tablet will break up.

The New Angle On 5 Top Overused College Essay Topics Just Released

<h1> The New Angle On 5 Top Overused College Essay Topics Just Released </h1> <p>This exact same standard applies when the date is made out of just the month and the day. The article is effectively among the most irksome areas of the school application approach. You can likewise connect with your essayist to flexibly some extra suggestions or solicitation data in regards to the request's advancement. You might want to get extremely close to home toward the beginning. </p> <p>The possibly rule to follow while choosing a point for your school exposition is to choose the subject you're anxious to expound on. The key exercise to remove here is that in case you're honest and veritable in your exposition, it will be easy to expound on. Thusly, you should stay away from such themes. From among the enticing discourse points recorded here, select the one which you are most very much educated about or ensure you have the time important to inquire about and set up a broad discourse that covers each aspect of the subject. </p> <p>Arguments consistently occur in a specific setting. Influential article is additionally alluded to as the contention paper. Having chosen a generally excellent theme to contend about, now you have to make a factious paper diagram. </p> <h2>The Secret to 5 Top Overused College Essay Topics </h2> <p>Lots of individuals have scrutinized the value of treatment in treating psychological instability regardless of proof of individuals it has helped yet this article doesn't need to be composed again to manage that. In this occurrence, you're endeavoring to make yourself important to an affirmations official that has been perusing a large number of various articles. The exposition is the place to permit the confirmations office of your expected school get the opportunity to comprehend your character, character, and the abilities and strategies that aren't on your transcript. Application expositions about difficulties uncover how you react to trouble to people who are somewhat keen on how you will deal with the ensuing four years all on your own.</p> <p>It just makes this creator sound pretentious of a considerable area of the individuals. Luckily, universities will contemplate you in the event that you decide to join your affection for writing in your exposition. </p> <p>The sports article is unsurprising and should be evaded, assuming there is any chance of this happening. Your accounts aren't easy to refute. At the finishing up phase of a book record, the writer can indicate if he's refereed different sources other than the book being referred to. At first, the author of a book report must be aware of the job of composing a book report. </p> <p>Unfortunately, bumbling in the TMI zone of paper points is more common than you accept. These assets give different techniques to create a book report. You are an authentic master with respect to powerful article subjects. Stop overthinking to create subjects for powerful article. </p> <h2> The Fight Against 5 Top Overused College Essay Topics</h2> <p>If you've persevered through a hardship and you might want to examine it, you have to. Clarify your duties, and you will be the kind of understudy universities find gigantically appealing. Consequently, numerous understudies and workers choose to get moderate exposition as opposed to composing it themselves. </p> <p>Essays which don't show these characteristics are generally tormented by musical inability. On the off chance that you've just moved on from school or college and are searching for a predominant activity, you should get an influential resume to dazzle your future manager. </p> <p>It is astute to search for the one which has an unrivaled notoriety and offers top notch papers at practical rates. Scholarly papers can't contain any signs of counterfeiting. The confirmations office doesn't wish to peruse your outing diaries. </p> <p>If it's the absolute first time you're probably going to utilize our article composing administration, you in all probability have a lot of inquiries. In the event that you find a ton of them, it might be that your point isn't letting you write by they way you should compose. Every now and then, in any event, when you're expounding on an intriguing, significant subject, it is as yet conceivable to seem juvenile or unready for school life because of the bearing you present that point the manner in which you genuinely compose your individual explanation. Everybody manages disaster in her or his own one of a kind unmistakable way. </p>

An Impartial View of College Essay Introduction Examples

<h1> An Impartial View of College Essay Introduction Examples </h1> <p>Being in school may be a little battle for a few. School life incorporates composing articles and application letters whether you're in the matter of organization or writing. School competitors bring in enough cash for universities it would not damage to give some back. Composing aptitudes in school isn't confined to papers. </p> <p>Keep at the top of the priority list your cutoff times and remember that a couple of schools may require more than 1 article or solicitation brisk passages just as the significant individual proclamation. The understudy competitors at American schools get the benefits of the top quality training framework on the planet from which they may go on throughout everyday life. Similarly a lot of understudies feel like they have to expound on a huge life occasion or their most noteworthy accomplishment. Accordingly, numerous understudies and workers choose to get modest paper instead of composing it themselves. </p> <p>An astounding school exposition acquaintance is fundamental with making your paper stick out, so there's bunches of strain to get it precisely great. It is a smart thought to search for the one which has an astounding notoriety and offers excellent papers at truly moderate rates. A few reasons lead youth from all around the globe to our site. On the off chance that it's a rundown of themes that you could pick from, at that point settle on the one which most interests you and hold fast to it as your absolute best option is typically your best. </p> <p>A self-presentation article is, as a rule, composed utilizing the primary individual point of view. The prologue to an examination paper might be the most moving part of the paper to compose. Keep in mind, notwithstanding, your introductoryparagraph ought to likewise have a proposition articulation to let your readerknow what your theme is and what you're going to state about thattopic. A report essentially aggregate s a ton of data on a particular theme and presents that data to the perusers without an excellent turn on this issue. </p> <p>Running through the crucial layout of your paper in the acquaintance offers perusers an open door with review what your paper is about and your position on the issue or perhaps to assess how target you will be. The version of the program you're utilizing is not, at this point upheld. The presentation may have heaps of obligation yet that doesn't show you need to perspire composing it. It ought to give important foundation data and catch their eye so as to guide it towards the theory and the whole paper. </p> <h2> The War Against College Essay Introduction Examples</h2> <p>You could have a notable idea to impart to the Earth, however if you can't draw in perusers inside the principal couple of sentences, your thoughts could be lost. The expressions of an eminent individual, for instance a writer, would be the perfect way to deal with start an exposition. Many individuals make the mistake of composing a section that discloses what they're probably going to visit about in the rest of the article. They tragically write an initial section that clarifies what they are going to discuss in the remainder of the exposition. </p> <p>Essay presentation is your guide for the entire article. To do this, you should set up what explicitly you're concentrating on and the manner in which you'll structure your exposition. All things considered, your exposition needs a title. A self-presentation article may be among the most effortless papers to start. </p> <p>When you start composing, don't worry about your paper's length. 650 words can appear to be a ton, however you can top this off quickly. You don't have to get your sentences flawlessly organized essentially to acknowledge you should wipe out the full section. By method of model, consider the initial sentences from utilizing this paper. </p> <p>Do not be reluctant to demand a sort of paper that you don't find in our rundown. On the off chance that you endeavor to take on an amazingly wide subject, you will wind up with a ton of general proclamations and exhausting arrangements of your achievements. At the end of the day, schools wish to acknowledge somebody who's going to graduate, be prosperous on the planet and have the college associated with that achievement. The schools competitors aren't allowed to work thus don't get cash to purchase the necessities. </p>

Get the Scoop on Symbolism in Writing Essay Before Youre Too Late

<h1> Get the Scoop on Symbolism in Writing Essay Before You're Too Late</h1> <p>There are bunches of expositions available to be purchased on the net. You, clearly, don't have to utilize the models given underneath. You evade locales that are about your theme totally. Normally, the topic of war can be seen from entirely unexpected points. </p> <p>Atwood depicts the ascent and extension of American as the purpose behind social and mental penetration. Many individuals may accept that there are circumstances when it is unimaginable to expect to manage without blood-shedding, however this isn't so. It is imperative to attempt to recall your work is the flood of your own musings, which are shaped on the grounds of a particular arrangement. Fortunately, the gathering of Kibin editors is here to guarantee your composing streams and that you have adequate help to back up your cases. </p> <p>Atwood likewise utilizes food as symbolism. 'Analogies' cont ains a great deal of visual symbolism moreover. </p> <p>A part of the images just appear on the set, similar to the glass zoological display and the emergency exit. Characterizing a character is something else an individual may accomplish when utilizing imagery. Symbolism is utilizing expressive language, which offers not simply to locate yet to all the faculties. </p> <h2> Symbolism in Writing Essay </h2> <p>Symbolism is just a beautification of a piece which is as of now solid. It can take various structures. It has incredible significance in the field of writing. It is likewise used to assist you with pondering the message or subject the writer needs you to get from perusing. </p> <p>Most creators use some regular images inside their writings. Numerous creators use symbolism and imagery with one another to help the all out topic of an artistic work, yet they could likewise be utilized independently. Different creators use symbolism and imagery to improve humor in their stories. </p> <p>Frequently, an essayist will utilize symbolism to flag the peruser that the portrayal of a particular article is a significant piece of the general story or message that is being passed on. While utilizing the vessel illustration to explain the little girl, there are just four strategies by which it very well may be utilized to illuminate her career as a writer. Using a word to depict a person or thing is the regular way we tell about doing it. At the point when utilized accurately, it can help a touch of composing and offer extra understanding to the peruser. </p> <h2> The Truth About Symbolism in Writing Essay</h2> <p>You may pick an a uthor on your own we have a gigantic gathering of experts that are proficient in different circles of study. All together not to battle completely all alone, you may pick another way putting in a request on the site that composes expositions for you. Having gathered all the focuses, it will be easier for you to include your own feeling about the activity. Issues with composing is a run of the mill issue among various understudies and we are here so as to support them. </p> <p>Montag is a fire fighter who's an authority in consuming books. The esteem is communicated by means of the utilization of images. In light of the task, you can pick one specific image and contend in at least three focuses why your understanding is exact. </p> <h2> Things You Won't Like About Symbolism in Writing Essay and Things You Will </h2> <p>Imagine for a second you had a chance to view the war from within, just without taking a chance with your own life. Subsequent to c onsidering the concise story basically, an individual must see the utilization of imagery in the story. Whenever a creator accepts the open door to illuminate the way something smells, or the sound it makes, all things considered, it is an important piece of symbolism for the story. The starling is a progressively convoluted portrayal of Wilbur's little girl's story composing as it has an endless number of strategies to speak to the young lady. </p> <p>Pretending you don't have an article you need to compose. In the first place, it's imperative to perceive that an exposition isn't only one more schoolwork task. With their help, you can be entirely certain about your article. You just turned in your article, and it's alright. </p> <p>Essays could be daintily changed for coherence or to safeguard the obscurity of patrons, however we don't alter exposition models in front of production. Imagery is ordinarily utilized by essayists to support their composition. </p> <h2>Symbolism in Writing Essay Ideas </h2> <p>To decipher this sort of image, consider the conditions where the theme reoccurs. Regularly, specialists wish to state something by utilizing their work and images are a fabulous path for them to convey. Images like doublethink and the telescreens offer a quick association with this subject. Furthermore, there are social images, similar to a bird speaking to harmony. </p>

Choosing Essay Samples for Elementary Is Simple

<h1> Choosing Essay Samples for Elementary Is Simple</h1> <p>A understudy should stay in touch with the most sweltering patterns and know which enticing article themes are identified with sound persuading concerning guarding sincere beliefs. It would be ideal if you note that a couple of these school paper models may be reacting to prompts that are done being utilized. Training exposition is basically a paper, which discusses different aspects of instruction. It can come in type of an account about the experience of one individual or can be an exposition depicting one's feeling about the subject of training. </p> <p>To create a successful paper, you should form an end that would leave a suffering effect considerably after someone has perused your exposition. Compose an exposition on the perfect way to deal with handle a domineering jerk. </p> <p>When you allocate thoroughly analyze papers, make certain to help your understudies to remember techniques to be certain they are really looking into the two ideas. Compose an exposition telling how these 2 nourishments are precisely the same and how they're unique. Compose a paper looking into both of these assortments of pets. </p> <p>'No matter what structure you pick, remember an instructive article doesn't give the author's assessment regarding the matter or put forth an attempt to convince their peruser to alter their convictions,' she clarified. The primary thing which you must do is think about a subject that you wish to directly about. There, you'll discover excellent papers composed by others. There is a lot of exposition themes to choose from when getting down to composing your instructive paper. </p> <p>Along with the 3 strategies, there are bunches of means by which you can compose an enlightening exposition that gives a definition. On the contrary side, getting a rundown of good enticing article themes is deficient. In any case, you must choose a subject. Typically Middle school expositions subjects are made to focus explicitly on a solitary story or perhaps to dig into one distinct topic.</p> <h2> Top Choices of Essay Samples for Elementary </h2> <p>Write a letter to someone who is far away or who doesn't see you regularly. You could analyze whether life for a kid star adds to abnormal conduct as a grown-up. Verify you compose sentences that have the two blossoms and trees. You should concentrate on the master plan as opposed to taking the mistaken turn. </p> <p>You're ready to make a few inquiries so as to realize where and when the gathering individuals meet. Plans which were created are used to work out the activity. In this way it assists with covering the general public's enrollment standard. Our client assistance will readily disclose to you whether there are any exceptional proposals right now, along with ensure you are getting the absolute best help our business can deliver.</p> <p>Students have occupied existences and often disregard a moving toward cutoff time. By the finish of unit 3, they will have the option to compose a powerful section. By the finish of the subsequent week, they will have the option to compose a descriptive passage. Your understudies may visit a remarkable instructor for workmanship, PCs, and language, yet else you're answerable for their entire educational plan. </p> <p>This is probably why Hawaii, the Aloha State, is among the most famous vacation destinations on earth, and why I might truly want to see this state sometime in the not so distant future. The people are glad that their state is a network that has numerous unmistakable foundations. Your state will give an honor to the best primary teacher. </p> <p>Elementary school is where the premise of things to come begins. On the other side, rudimentary instruction empowers youngsters to better their understanding capacities and math capacities. Thusly, being a rudimentary educator offers a chance to shape the lives of children and make an immense commitment towards molding the up and coming society. Being a primary teacher is ideal for an individual who appreciates educating and finding out about different subjects, and who doesn't have to feel constrained by encouraging just a solitary subject. </p>

Why People Arent Discussing Scholarship Essay for College and What You Need to Do Right Now About It

<h1>Why People Aren't Discussing Scholarship Essay for College and What You Need to Do Right Now About It </h1> <h2>Scholarship Essay for College - the Conspiracy </h2> <p>Don't neglect to start your exposition strongit ought to have the option to start the interests of your perusers. The huge piece of the paper uses standard English and English sentence structure. You have to see how to form a powerful paper as it is a common establishment for an understudy's evaluation. Understudies need to make expositions dependent on the instructor's guidelines or their favored style recorded as a hard copy. </p> <h2> The Lost Secret of Scholarship Essay for College</h2> <p>The grant application will generally anticipate a rundown of extracurricular interests. There are horde locales that give thoughts and rules about how to form extraordinary grant expositions. By the by, understudies may procure valuable recommendations from the grant suppl ier's site. Anybody you trust to give you great input is an incredible source! </p> <h2> A History of Scholarship Essay for College Refuted </h2> <p>College life incorporates composing papers and application letters whether you're in the circle of organization or writing. Rather, notice the manner in which your training can help your profession. Notwithstanding its developing social and ethnic assorted variety, State University is transforming into an ace at building up a specialty for every single understudy. </p> <p>you have full boasting rights here, as associations wish to catch wind of your individual victories both in and past the study hall. Grant suppliers have different methods for testing understudies dependent on the sort of grant accessible. Precisely the same grants that the administration would discover are realistic for all to find on the off chance that they basically look in the most reasonable spot. For instance, a grant for an examination abroad program may get some information about your past aptitude in communicating in or considering dialects. </p> <p>It's easy to bring up an exposition that has been composed exclusively for its enthusiasm. A sublime exposition is one which leaves a suffering impression. Your school exposition should be a brief paper about what your identity is and what you intend to learn at your preferred scholarly organization. The grant paper ought to be faultless for which you can search for grant exposition help from online article help locales. </p> <p>you must form an article in case you're requesting a grant. In case you're wanting to form articles to bring in cash, here are a couple of thoughts which will assist you with building a stunning grant exposition. A grant article can gain an understudy affluent! It isn't astounding that loads of understudies discover profile papers an intense endeavor and should you don't see how to make a profile exposition appropriately, we see how to help! </p> <p>You can pick the composing proficient you feel is a generally excellent fit for your paper prerequisites. Your biography can similarly be viewed as a fabulous point recorded as a hard copy your private exposition. An awesome exposition can assist you with getting acknowledged to your fantasy school. Bridget's exposition is very solid, yet there keep on being a couple easily overlooked details that could be made better.</p> <p>The absolute initial step to any article composing is to pick a subject of intrigue. Perusing our article composing tests can give you a smart thought whether the standard of our expositions is the top quality paper school models you need to get. Australian article composing administration it is conceivable to depend on. The capacity of the exposition may likewise be referenced in the underlying section. </p> <p>Also, make certain to remember your crowd and ensure that you spread the points remembered for the headings. In the event that you prepare, you will be in a situation to get loads of criticism from your relatives, companions, and educators, moreover. In case you're ready to compose a paper that gets more than 1 read or conceivably moves a grin or giggle or even better, an extraordinary viewpoint, you're moving the best possible way. It is much simpler to form an exposition having an arrangement and appreciation of what and where you're alluding to. </p > <p>The exposition part of a grant application is what recognizes one specific candidate from all the others. The absolute configuration of your article, for instance, text dimension and edges, will exclusively depend on the directions gave to you. There's no perfect arrangement on how best to make a powerful exposition. The ideal method to set up a grant paper is to discover master direction. </p> <p>Though a family's monetary circumstance could affect merit-based qualification, as a rule it doesn't. When a grant application is completely rounded out, a minumum of one duplicate should be made. A few foundations demand a paper about an understudy's decision of a college or vocation. Besides, the local library can be utilized to look into grants, so never go to a grant coordinating help to find a grant. </p>

Argumentative Essay Topics About Softball

Argumentative Essay Topics About SoftballThe proper argumentative essay topics about softball are not as easy to come by as you might think. Sure, there are lots of questions out there that can be easily answered through one's personal experiences and observations.However, most people lack the experience to provide a truly satisfactory and accurate answer for any question posed. By using a solid outline that is clearly outlined from start to finish, the writer becomes more confident when addressing issues or problems that are faced by readers.Softball is a popular sport that people often try to emulate. While it is generally accepted that there are some bad apples in the bunch, in general, the general attitude and values of most players are good.Most fans look to see that the player's worthiness is not being questioned. When an athlete does something that violates the code of conduct, their status can be called into question. This will in turn affect the team's performance.While this topic might sound like it would be a controversial one, many people have been able to use the common sense that they've gained throughout their entire life to understand that softball is not a game for the weak. Anyone who has played baseball will understand this better than anyone else. There are often times that the same mistakes happen that led to players being disciplined in baseball, which can be seen as similar to softball, in the eyes of a court of law.Softball is a great sport for children. Those who play the game know that it is a game where discipline and teamwork are essential. By combining this with other sports like baseball, which has a well-known record of high discipline, it's obvious that there is no question that baseball is the better of the two.Softball is a fast paced sport. For a quick hit and run type of sport, this is something that can be quite appealing to many people. After all, a good game of softball is a lot of fun and will give the player lots of ener gy for playing the game again.So, using the same logic as baseball, softball should have a more attractive appeal to the American public. Not only is this something that would be a positive factor for America, but also something that could improve the life of countless people around the world.

Internship Report on Krachi Stock Exchange - Free Essay Example

Internship Report on Islamabad Stock Exchange By M Idrees Raja, MPA-IV. Department of Administrative Sciences, Quaid-I-Azam University, Islamabad. ? ? Acknowledgement I am thankful to almighty Allah who gives me courage to complete my internship in Islamabad Stock Exchange and completions of report this report for such purpose. I would like to appreciate my supervisor Prof. Mr. Ajmal Waheed Khan for his proper guidance and transferring knowledge to me. I am also thankful to Prof. Ghulam Shabair Khan Niazi who allowed me for internship at such tremendous place. I am grateful to Mr. Yousaf H. Mukhdum Secretary Islamabad Stock Exchange for his proper guidance despite his engagement in office. I am thankful Mr. Noman , Mr. Saqib Jalil Malik, Mr. Waris Khan Naizi, Mr. Kashif Rauf, Mr. Kamran Anwar, Syed Masood Shukat and all staff for deepful consideration towards me during my internship. May God bless them with success! ? ? ? ? M Idrees Raja. ? ? ? ? ? ? Signature Page Quaid-I-Azam University Islamabad. Islamabad Stock Exchange, Blue Area, Fazal-ul- Haq Road, Islamabad. ? ? ? ? ? ? Supervisor: Signature _______________________ Name ________________________ Designation ________________________ ? ? ? ? ? ? Coordinator Development Division: Signature _________________________ Name __________________________ Table of contents ? ? ? Executive Summary My internship proposal was accepted in May 2003 on the request of our department of Admin Sciences Quaid-I-Azam University, Islamabad. My internship was remained with the management of Stock exchange. I joined Islamabad Stock Exchange on July 2, 2003. During my internship I worked in following departments, I worked in department of company affairs for one and half week. I work on the development of web site on all companies, which were listed in stock exchange. During that time I make analysis of financial statements with different formulas and than enter on page of soft ware which was established for the purpose of web site. I also worked on code of corporate governance and listing regulation of Islamabad stock Exchange (ISE). I went in brokerage house for three days and observe various activities for trading of shares. I also worked on the clearing house. The functions of clearing were assessed and work for different activities performed. Worked one and half week in investor relation department. Worked one and half week in the department of internal control. Worked in one and half week department of finance. The financial system analyzed by me. For particle skill work was also done by me. ? ? ? ? ? Introduction Background of Study The internship report comprises a brief study on Islamabad Stock Exchange (ISE) during two months internship. The report is distributed in many parts according to nature and requirement of organization. Purpose of Study The purpose of study to develop skills through learning various aspects of organization. The study enables to get command on bookish knowledge through practical approach and to understand the difference in both approaches. This thing increases the knowledge and brings betterment in working within organizational environment. Scope of Study The working in stock exchange is different from other institutions. The ISE own internship schedule bound me to fallow it. (Annexature) It is difficult to study all aspects of organization in a limited time. The functioning in ISE is mostly related to finance departments in ISE except investor relation and upto some extent companies affairs are related to finance. The study focuses on field of finance including finance department. Methodology of Research The methodology of research consists all methods, which were possible during the internship in ISE. The following method were adopted by me, Interviews: The interviews were made on daily basis form the concerning departments in ISE. There are number of personas covered in interviews both top and lower management. The interviews were made in the form of prepared and unprepared. Before the interview general discussion were made for creating feasible environment. Questionnaire In prepared interviews the questions were asked consist on following nature, Open ended questions. Closed questions. Positive and Negative questions. Open Ended Questions: The open questions were asked more as compared to other types of questions. The open ended questions asked in different directions. The questions were asked more in number to top management when the response was given than an open discussion were made. ? ? ? Closed Ended Questions: Closed-ended questions were less in numbers as compared to other questions asked by me. the questioner were first developed and than asked to the management. in the form of scaling. Techniques in Questions: The methods of questions in open-ended technique were change question to question. In unprepared method the questions were asked according to information that I got from the respondent. But in open-ended questions were asked usually positive provided if the response was expected according to desire. If there was chance variation in questions than the questions were asked positively and than negatively after time consecutively. Sources of written Data: The data were collected from various authentic sources includes the newspapers, international books, national level books and literature. Other Methods: It includes the general observation, discussion with investors and consults the different record of Islamabad Stock Exchange (ISE). ? Scheme of Report The internship report, which I want to present, will consist on following department and related fragments, History of Islamabad stock exchange. This chapter includes about the location, establishment and background of Islamabad Stock Exchange (ISE). What is stock exchange? The chapter contains some definitions and overview about the stock exchange in Pakistan. Structure and Index of Islamabad stock exchange. This chapter has the basic importance about the ISE. This chapter comprises on the structure and index of ISE. Such information will help to understand the functions of ISE. Responsibility and functions of departments. The chapter 4 states the responsibilities existing departments of ISE. The working of different departments can be understood with the help of this chapter. Work which was done by me. The chapter contains work, which was performed by internee. Achievements of Islamabad stock exchange. The various achievements include in it. Future prospective of Islamabad stock exchange. The chapter contains the views about the future determination by ISE management and authorities related to it. My special achievements in Islamabad stock exchange. There are number of achievement got by internee during the internship, so this has a detail about it. Analysis. The chapter comprise on both type of analysis includes SWOT and PEST. The analyses were made briefly. Conclusion. The report contains a brief conclusion about the Islamabad Stock Exchange (ISE). Suggestion and recommendations. The suggestions and recommendation are written in the report with detail how to implement. The timing where these suggestions and recommendation will suitable is also stated in the report. Important statistics. Annextures. ? ? ? ? ? History of Islamabad stock exchange. The Islamabad stock exchange (Guarantee) Limited was incorporated on October 25,1989, under the companies ordinance 1984 as a company limited by guarantee. The exchange first times start trading in July, 1992. The main function of exchange to conduct, regulate, trade securities, government bonds, shares of companies and other related investment. There are 103 members of Islamabad stock exchange, But out of them 38 active only. The building of exchange is located in Blue Area, Fazal –ul- Haq Road Islamabad. The building is called Nafees Plaza, which has four stories, the building is acquired on rent basis under a contract and rent is paid on advance basis. The new building is under process near the Saudi Tower building, Islamabad. The building will consist 15 stories, including all facilities in it. The Islamabad stock exchange which was established in 1989 work under the company ordinance 1984. Securities exchange commission ordinance (SECP) 1969, securities exchange rules 1971. The exchange also has a memorandum and article of association, which was approved by SECP. The amendment cannot be made without prior approval of Securities and Exchange Commission of Pakistan (SECP). There are three regulating bodies of Islamabad stock exchange (ISE). First is the Securities and Exchange Commission of Pakistan (SECP) which is responsible for maintain regulations for securities and other matters related to companies. The other regulating body is coporate law authority, which has been merged in SECP, is responsible for law and order, which is implemented for stock exchange. The third body, which is the supreme, is the Ministry of Finance who sent instruction from time to time three exchanges including coporate law authority and SECP. There are 260 companies listed in Islamabad Stock Exchange and the strength of employees are 33 in number. There are 8 officers including M. D. and secretary of exchange in secretariat of ISE. The employees have different background of education with different qualification from various fields. Most numbers of employees are inter, graduate and masters. The master degree holders are less in numbers. The timing of trading in Islamabad Stock Exchange Friday is 9. 30 A. M. to12. 0 P. M. and 2. 30 P. M. to 4. 00 P. M.. For normal day it is 9. 30 A. M. to 2. 30 P. M, where the management timings are 9. 30A. M to 6. 00 P. M. The exchange remained closed on Saturday and Sunday in a week. In these days there are 260 companies are listed in ISE. There are no TFC’s registered in ISE. The preferred stock is only in one company n ame which is called Net Over Leasing Limited. The development of human resources is done by on the job training, seminars and workshops. The check and balance is maintained for each employee. The top management use management by walking around method (MBWA) for check and observe every employee. The promotion is based on performance and qualification of employee. The other things are seen are the mental approach, experience and qualification of the employee. The companies vary from time to time in ISE due to delisting and in some companies the merger case were existed. ? (Source: Annual Report of ISE and Economic Survey of Pakistan. ) ? ? ? ? ? ? (Source: Annual report and Economic Survey of Pakistan. ) ? ? (Source: Annual report and Economic Survey of Pakistan. ) (Source: Annual report of ISE. ) ? ? ? What is stock Exchange? The stock exchange performs various functions simultaneously for the growth and development of economy. It also depicts the economy as an instrument and help to analyze the economic condition of the country. Without strong position of stock exchanges the economy cannot be predicted that it will be healthy in future. The Securities and Exchange ordinance 1969 state that â€Å" Stock exchanges means any person who maintains or provides a market place or facilities for bringing together buyers and sellers of securities or for otherwise performing with respect to securities the functions commonly preformed by a Stock Exchanges, as that term is generally understood, and includes such market places and facilities. In Stock exchange the members meet to buy and sale stock. The principal of demand and supply is followed for price determination The exchange is managed by the board of directors consisting of certain members who may be broker, odd lot dealers and specialists. [Irshad Muhammad, 1998: 300] There are three stock exchanges working in our country for the prosperity of country. In ISE there are 260 companies are listed, where in KSE there are 701 and LSE has 582 companies. Stock Exchanges |Companies | |Islamabad Stock Exchange(ISE) |260 | |Lahore Stock Exchange(LSE) |582 | |Karachi Stock Exchange(KSE) |701 | The past history of ISE for companies listings vary from time to time. The stock exchange is a place where the buying and selling of shares are done. The management of stock exchange first observes the listing regulation for a company with authorized regulation. When a company got approval for listing in stock exchange. Then it offers the shares for sale to general public through initial public offering (IPO). This means that the shares are first offered for sale to general public. When public accepts the offer they purchase the shares from exchange and got ownership right in company. The future value of share is depending on the performance and repute of company. If the performance is good and demand is high than the value of shares will be appreciated. Conversely if performance is bad than the value of shares will go down, it is because the insufficient demand for share will occur in the market. The investors can earn the profit on shares by two ways, first from the appreciation of shares, which is also called capital gain, secondly when they receive dividends on shares. Investment in stock Exchange The investment in stock exchange is different from other sectors of economy. When an individual commits for the investment. He first opens the account to the member of stock exchange. The are three types of members in stock exchange, individual members, at partnership and corporate members. It is not necessary that all members should be active. It will be best decision for the investor for the choice best member on the basis of his repute, where he wants to open the account, is holding the office in stock exchange. In case of office is holding in other place instead of exchange building by member, investor should confirm from the stock exchange management or Securities and Exchange Commission (SECP) about the existence of office. After opening the account, a investor become the member of the brokerage house, in which he opens his account. In these days the limit to open account in a brokerage house on the behalf of member is the Rs. 10,000 at least. When the process of account is completed, the investor can acquire the shares from exchange by giving order. The shares are usually offer in lots, which varies from company to company. Strategy to Minimize the Risk It is better strategy for investment that the investor should aware of company, which he wants to purchase the shares. In stock exchange most of the investors prefer to invest in blue chips. It is because they considered that through trading in blue chips, their investment will be secured and they can protect them from big losses. There are some strategies to invest for maximum gain, Investment should made in different sectors and in different companies. The market trend and policies of company should be analyzed before the investment. Before the investment, it will be better that the investor should check the reports of companies whether quarterly, semiannually or annually. Due to this, he can check whether the company follows the code of corporate governance or not? The other advantage that he can observe the trend of profitability of companies towards the future whether their financial position is sound or not? The other method is taking the long position. In this method the investor expect that the prices of shares will go up as compared to now. But he should conscious the situation with logic and complete information about the future trend of market. Most investors can take short position for trading of shares in the market. The short position is usually taken for one day. It will better for investor to take position after opening some time in market and observing high and low price in the specific day at which he is taking position in a specific day. By making the investment in trusts and mutual funds the risk or tension trade off for some time. Precaution for investor There are some precautions for the investor before making the investment in stock market and during the trading process. These are, To avoid from the rumors the investors should reconfirm the news from the responsible authorities After giving the order for purchase or sale of shares to broker. The investor should verify that the order is placed without any error. He should check size of lots, name of company, price which he asked for such trade, date and the price at which he want to purchase or sale the shares. It is essential investor should get surety about fairness of member for the trade purpose from Securities and Exchange Commission of Pakistan (SECP). ? ? Instruments and statistical calculations for maximum Gain. Most of the investors in Islamabad Stock Exchange (ISE) do not aware the statistical tools for maximum gain. They prefer market trend and the situation of the market of Karachi Stock Exchange (KSE). After taking interviews they were unable to tell about the use of Statistics. There are some instruments given below to get maximum gain from the market. Mean: Mean is simple to use as a statistical instrument for investment in market. The mean can be got from sum of values of shares divided by number of years. For analyze the trend of a company shares for the purpose of investment in stock, it can be got sum of total market shares value for different periods divided by number of time period in which the investor is interested. Formula: Mean = Total values of share during different years Total numbers of years. Geometric Mean (G. M. ): It is defined as â€Å"the nth root of the product resulting from multiplying a series of return relatives together. † Geometric Mean (G. M. ) is the other measure of the central tendency. It measures the compound rate of growth over different periods of time. It is often used in investments and finance to reflect the steady growth rate of invested funds over some past period; that is the uniform rate at which money actually grew over multiple periods. Formula: 1/n Geometric Mean = G. M. = [ (1+TR)(1+TR)(1+TR)] 1 Where TR is abortive of total return which can be find TR = I+(P1-P)/P I= Interest received during the period. P= Beginning price. P1= Ending price. In the case of shares TR will be TR= D+( Pe-Po) / Po D= Dividend. Po= Begging price. P1= Ending price. Standard Deviation: The standard deviation is used to measure the data change with each price or it is a tool to measure the deviation of data. The shareholder can check the variation of prices in shares through it. ? Formula: 2 2 S. D. = v ? X [(? X)] n n Correlation: It is the measure the relationship in the data between two variables. In stock exchange it is applicable when the shareholder hold the shares of two ompanies or more and he want to check the relationship of prices or return on two different types of shares. After calculating the correlation the followings situation came in existence. Perfect positive correlation. Perfect negative correlation. Zero correlation. Perfect positive correlation: Perfect positive correlation exists when the relationships in securities move in same direction. This means when the return of one share or security increases then the other shares or security will also increase. It is shown by +0. 1. Perfect negative correlation: In perfect negative correlation the returns move in reverse direction. It means when the return of one type of shares is increase the other share return does not follow it and decrease in same way. It is denoted by –0. 1. Zero correlation: In this type of correlation there is no relationship between the two variables. On the base of return one security we cannot predict the other security. It is denoted by the O. Use of correlation for the investors: Correlation defines the relationships of two variables. Through the use of correlation the investor can analyze the whet the portfolio is profitable or not. Perfect positive correlation: The positive correlation provides no risk security. It is because when return of one share is gone down the other share returns also fallow it. So both shares return goes down and the investor will suffer loss. The investor can protect himself from such losses by applying the result from correlation, which is positive. He can avoid him before the investment from future losses. Negative correlation: The negative correlation is a good sign before making investment. When the return of one share decrease the other share return protect it with increase return, combining the securities with perfect negative correlation with each other eliminate risk altogether. Zero correlation: In this condition the risk cannot be eliminated totally but the practically it can be controlled upto some extent. Because it show no relationship. Perfect Negative correlation: Perfect negative correlation with each other share can reduce the risk. In the case of perfect negative correlation the returns related to one security compensate the other security. Formula: Correlation = ? XY – (? X)(? Y) 2 2 2 2 v ? X – (? X) v ? Y – (? Y) ? ? ? ? ? ? Terms used in Stock Exchanges Share: It is certificate of ownership in a company in which the investor made the investment. The shares are issued to the owner who purchases the shares from the stock market. Shares are issued usually by the companies in lots of different sizes. The common lot in the market is 500. Bull: Bull is a trend when the prices of most of the companies shares rise up. Market usually goes to bull when demand of shares is more than the supply of shares. Bear: Bear is reciprocal of bull in which the market falls down and the prices of majority of companies go down. In bear the supply of share is more than the demand of shares. Capital Gain: It is the situation when the prices of shares are gone to up than the value at which the investor buys the shares. There are many reasons for such higher in market. These include reasons may be political, economical, the performance of the company or any other in the market. ? Badla or Carry Over Trade: It the form of trade in which the individual or any institution provides the loan on short term usually for one day. The Badla rate is high than the market rate. The variation in badla rates can negatively or positively effect in market situation. Blue chips: Blue chips are those companies in which the maximum trade is done in a day. The investors done maximum trade in these companies with the expectation of maximum profit. The volume of these companies is high than other companies in the market. The other thing is that blue chips companies are the best performer in the market. The shares of such companies is easily available. In these days PTCL, HUBCO ,PSO, FFCC Jordan are the blue chips. Dividend: It the part of profit which is given to the owner of share. A part of profit is distributed among the shareholders. Ordinary shares: The most common from of shares and these shares are issued by maximum companies. The dividends depending on profitability of the company and recommendation of directors. ? Preferred shares: In this type of share the profit is given to the shareholder at fixed rate. If the company earn more profit than the shareholder cannot contribute in profit, in the case of loss he feels comfort because the earning of share is remained secure. In Pakistan the preferred share Initial Public Offering (IPO): When a company first time launches its shares in the market to general public for sale is called initial public offering (IPO). Private Placement or Inside Trading: In the type of trading the purchase or sale is made by a person who has inside information about the company which is not generally available in the market. In Pakistan such deal is illegal. Long Position: The share is purchased with intention that in future the price of shares will go up. After observing their suitable position he sale these shares in the market and earn profit. Short Position: In this type of trading the investor purchase the share s of the company with intention that he sale after some time when the price of shares will go up. When the sale is made than after he purchase again when the price go down. The earning is made time to time from such sale. This type of trading is called short position. Portfolio: When the investor purchases the shares of different companies to reduce the risk from the market the whole collection is called portfolio. Capital Gain: This is the appreciation on the price of shares, which exist in future. When the shares are bought by the investors after a some period the price of such share rise up due to excellent performance of company or any other reason, the investor can earn profit by selling it in the market this is called capital gain. Capital gain = Market prices of shares Price at which the shares purchased Investment corporation of Pakistan (ICP): The Investment Corporation of Pakistan is a body, which invest in different companies and make portfolio of it. On the behalf of such investment it issue units, which are called ICP units. Through purchase of such units the investor relaxes due to less tension, it is because he is not involved in trading process. Right Issue: When a company want to issue more shares in the market, it is a choice for the company that it offer shares first to existing shareholders. By using this option of right issue ownership will remain to existing shareholder and do not divided to other people. If the existing shareholder do not take interest in buying new shares than after some days the right is transferred to general public. Settlement: There are two type of settlements T+1 Under T+1 system the transaction is made on spot within day. T+3 In this system the transaction is made first day and clearance is made on third day. Term Finance Certificates (TFC’s): The term finance certificates are resembles to bonds, which are issued by companies for aim to generate the funds from general public. When the investor purchase TFC’s the receive interest from the companies. ? ? ? ? ? ? Structure and Index of Stock Exchange The stock exchange has different departments. The departments perform various functions according to their responsibilities. There are five main deferent departments in ISE, which are following, Department of Companies Affairs. Department of Investor Relation. Department of Internal Control. Department of General Administration. Department of Finance. Board of directors The board of director comprises the 10 directors, 1 chairman of stock exchange. The 6 directors in ISE board are belonging to SECP and five are elected from the exchange in annual general meeting. Committees There are number of standing committees for efficient functions of management in ISE, Research and development committee. Information technology committee. Seminars, training publication. Floor mediation committee. SECP coordination, rules regulation committee. Taxation committee. Employment, administration finance committee. Membership committee. Companies affairs, listing active participation committee. Default management committee. Inter stock exchange committee. New building committee. Arbitration committee. Building maintenance committee. The committees above mentioned perform a important role in different matters existing in exchange. Each committee contains various members including one Chairman of committee. The article of association decide the following provisions regarding to the committees, Other Committees The director may from time to time and at any time constitute a committee consisting of two or more persons, whether director or members, as they think fit, to undertake any function and responsibilities entrusted to it/them by the directors. Any committee so formed shall, in the exercise of the power so delegated, conform to any restriction that may be imposed on it by the directors. Convener of Committee Meetings: A committee may elect a convener of its meetings, but, if no such convener is elected, or if at meeting the convener is not present within fifteen (15) minutes after the time appointed for holding the same or is unwilling or unwilling to act as converner, the members present may choose one of their members to be convener of the meeting. Proceeding of Committee Members: â€Å"A committee may meet and adjourn, as it thinks proper. Questions arising at any meeting shall be determined by a majority of votes of the members present. In case of an equality of votes, the convener shall have and exercise a second or casting vote. † (Memorandum and Article of association, Page98). Hierarchy Level: There are different hierarchy levels in ISE. For officer the levels start from associate manager to M. D. and chairman of the exchange. The tier of hierarchy is following, Chairman. Managing Director. Directors. Secretary. General Manager. Senior Executive Secretary. Associate Managers. Staff. (Annexture) Responsibilities: The responsibilities of different positions are assessed on the bases of qualification, authority and experience. Chairman: The chairman is elected in the meeting of directors with subjects to limit for one year. In case of other person is not ready to elect as a chairman he will eligible to reelection. The chairman can hold this position for consecutive three years under this condition. For next time he will eligible after a year for election. The chairman hold office and observe that all function are going according will on the behalf of directors. The chairman is liable to perform the following main functions, To observe the policies of management and whole functions of exchange for the better interest of members and directors. To approval of any document which is sent by managing director (M. D. ) without any objection. If on any complex matter regarding to policymaking he understand that the meeting should call than he should call the meeting. To preside all meeting of exchange. Managing Director (M. D. ): The managing director is responsible for the whole function of exchange. He liable for the functions of staff to the Chairman. The board does the appointment of M. D. for the period of three years. The person who is elected as a M. D. is restricted to hold any other business or activity of trading in stock exchange. He is an independent person in exchange and full time paid employee of exchange. He is liable for following right and duties, To sustain the routine matters regarding to exchange. He can perform all functions for the betterment of management. He can arrange the training of the staff according to requirement. He can act for disciplinary actions for smooth functioning in trading of members. He responsible to provide the information to director on demand from them. He can give the summary regarding to policies of exchange in different matters. He is responsible to maintain the accounts upto date and present in meeting on the behalf of management. Directors: The director is elected in election trough the election. The board of directors has power to give the approval for any borrowing for the purpose of future growth of exchange. The director has right to inspect the accounts of exchange at any time. The directors has following rights and liabilities, The directors in the meeting of the board can give approval of loan whether in the form of bonds, TFC’s or any other security. The can inspect the accounts of exchange at any time. They can give their opinion regarding to any matter in board meeting. Any resolution cannot be approve without the prior approval of directors. They can give approval regarding to any investment for exchange in future. Secretary: The secretary is senior officer of stock exchange. He is head of secretariat and responsible to general management. He is also obligated for work, which is assigned to him from Chairman and Managing director. The main functions of secretary are, He possess the common seal of exchange and responsible for it. He has authority to verify the expenses before sending the minute sheet to Managing director For annual general meeting he issues the notice to members. On the instruction of chairman he is responsible to call the meeting board and to inform the members. He can perform the functions regarding to director finance. He responsible to attend the meeting the board of directors. He arranges the training and rehabilitation. He is responsible completion of any formality regarding to authorities e. g. SECP, Ministry of Finance. General Manager: The general manager is responsible for all functions for all matters regarding to different departments, which are working under him. He performs the following functions, He provides the consultancy service to departments. He performs the daily matters regarding to general management. He is responsible for any function regarding to any department on behalf of associate manager of department. He remained contact with SECP and ther exchanges for information. He can make any decision regarding to fine and delisting of any company with the consultation of Secretary and Managing director. Senior Executive Secretary: Senior executive secretary performs her part of duties for Chairman and Managing director. She perform the following main functions, To note all telephone messages of Chairman and Managing director. To handle all incoming and outgoing faxes. Arrange hotel booking of chairman/ Managing director Executives of ISE. Arrange all appointments of Chairman and Managing director. To check all mail of Chairman and Managing director. Maintain all personal and official files of Chairman and Managing director. Work as a telephone operator for chairman and Managing director. Associate Manager: Associate manager head of his department. He works according to instructions of general manager and secretary. The associate manager sent summary on different matter regarding his department to above management. He is responsible for functions of his department. He sent the report to Managing director with the advisory of general manager. He is chargeable if any thing due or any regulation exist regarding to law related to his department. Staff: The staff performs various functions, which are assigned to him. The staff is not directly responsible to all functions but on behalf of associate mangers. Performance Evaluation: The performance of an employee is evaluated on the basis of every six months. The performance is evaluated with the help of performance evaluation committee. The letters are sent to employee for purpose of acknowledgement from secretary on the behalf of committee. Salary and Packages: The level of salary is very low in ISE as compared to other business. On the time of offering for first joining it start from Rs. 9000. There is no other reward for employees of ISE on excellent performance. However the exchange pays fee of employees children who are not more than two in numbers. Behavior of Employees: The behavior of employees including top management vary from person to person, at average it is good. The main problem in the way of employee is the time availability from work, despite the problems they coordinate to each other. Culture: The employees belong to different areas of the country, so ISE is the multiculter organization. Language: Most of the communication is done in Urdu but the official language, which is used in correspondence, is English Dress: All officers are bound to wear paint shirts with ties by secretary of exchange. As far as concern with lower management they have option in dress. Unity: Within organization all employees are considered like a part of family. ? ? ? ? ? ? ? Islamabad Stock Exchange Index The index used by Karachi Stock Exchange (KSE) is called 100 index, where the Lahore Stock Exchange (LSE) uses the 101 index. The index is maintained in KSE by sector wise. The index, which is used by Islamabad Stock Exchange (ISE) the different from KSE and LSE. The index of ISE is the composite index. It was developed by Vital Information Services (Pvt. ) Limited, a financial and data base company, How contract? It is constructed in following way, Suppose, Base Date = 30th November 1996. Date of Publication = 1st March, 1996 Total companies 260 Multiple or Base figure 10,000 Let the are three prices or scrips A,B,C A= 10 B=15 C=20 By calculating the G. M. G. M. = Antilog{ log(10)+log(15)+log(20)}/3 Antilog(1. 15) = 13. 48 let t which is time changed than, A=12 B=17 C=25 Than G. M. = Atilog{log(12)+ log(17)+log(25)}/3 = Antilog(1. 233) = 17. 10 Index =17. 10/13. 48(10,000) = 12,685. 45 It can be calculated also, =v log(10). log(15). log(20) =13. 48 1/3 = v log(12). log(17). log(25) =17. 10 Index = 17. 10/13. 48(10,000) = 12,685. 45 ? Department of company Affairs The department of company affairs is respon sible for all functions and matters related to companies which are listed in stock exchange or the companies who want to be listed in stock exchange. This department sent reports to G. M, sectary and M. D. for final approval on decision. The department receives instructions from SECP from time to time. They have authority to list or delist any company if the company does not meet the requirement of law. They have also authority to impose the penalties for late submission of quarterly or annually report or in case of not submission according to code of corporate governance and other related regulation. In these days the department is establishing web site in which the sales, profit before tax. Book value, listing date and other related information is given for investor facility. On launch this facility the investors can take decision about the investment in various companies. The main function of department deal with companies affairs on behalf of Islamabad stock exchange (ISE) according to instructions of Securities and Exchange Commission of Pakistan. (SECP) and Ministry of Finance. In routine matters the department perform the followings functions, Receive Reports: The department receives reports from companies and maintains it. If the reports are sufficient than the department sent it in the brokerage houses for investors. Impose Penalties: The department can impose penalties on the companies according to code of corporate governance on companies for violation of rules belongs to ISE. Loss of shares: If the shares are lost from shareholders due to any reason, after receiving the complaints from shareholders the department verify about the existence of shares in stock exchange. The department sent the requests to companies for issue of duplicate shares and arrange such. Dividends: The department of Companies affairs can take actions against the companies, which are failed to pay dividend to shareholders during five with the help above management. Code of Coporate Governance: The main document, which comes under consideration of department of companies’ affairs, is the code of coporate governance, which is implemented on three exchanges with the effect 2002. There are some important provisions of code of corporate governance are following, All listed companies shall encourage effective participation of independent director non executive directors, including those representing minority interest, on their board of directors who represent the minority shareholders. The director of listed company shall, at the time of filling their consent to act as such, give a declaration in such consent that they are aware of their duties and powers under the relevant laws and the listed companies memorandum and article of association and the regulation of listing in stock exchanges. No listed company shall have a director, a person who is serving as a director of ten other listed companies. No person shall elected as a director of a listed company if: His name is not borne on the register of National tax payer except where such person is non-resident and He has convicted by court of competent jurisdiction as a defaulter in payment of any loan to banking company, a development institution, or being member of stock exchange he declare defaulter of such exchange. A list company shall endeavor that no person is elected or nominated as a director if he or his spouse is engaged in the business of stock brokerage. The tenure of directors should be for three years. The directors of listed companies shall exercise their powers and carry their duties with the sense of objectivity judgement and independence in the best interest of the company. The chairman of listed company, if present shall preside over the meeting of board of directors. The board of director shall meet at least once in the quarter of every financial year. All listed shall make carry appropriate arrangements for courses for their directors, for making acquaint them with their duties and responsibilities. The appointment, remuneration and term and conditions for employment of the chief financial officer, the company secretary and the head of internal audit of listed companies shall be determined by the CEO with approval of the board of directors, the CFO or the company secretary of the listed companies shall not be removed except by the CEO with the approval of the board of directors. The quarterly unaudited financial statements of listed companies shall be published and circulated along with directors review on the affairs of the listed company for the company. Listing of companies No dealing in securities of a company shall be allowed on the exchange. The permission under sub regulation (1) may be granted upon an application being made by the company or in respect of the securities in the manner described. The exchange such permission will concern among other things, sufficiency of public interest in the company of the securities. The exchange shall decide the questions of granting permission with in a maximum period of three month from the date of receive listing application. In case the permission is refused, the reason thereof will be communicated to the applicant and the authority within two weak of the decision. The board will be the sole authority to grant defer or refuse such permission and may for that purpose, relax any of these regulation subject only to 2/3 majority of the directors present at such meeting of the board and so desolving. De-listing and suspension: A listed company shall be de list d or suspended for the following reasons, If its securities are quoted below 50% of face value for a continuos period of three years. Provided that if the shares of the company quoted at 50% or above of their face value then such a rate is maintained for a continuos period of thirty working days. if it has failed to declare dividend or bonus for five from the date of declaration of last dividend or bonus or In the case of manufacturing companies, for 5 years from the date of commencement of production. For five from the date of commencement of business in others cases. If it has to hold it annual general meeting for a continuos. If it has failed to hold it annual meeting of a continuos period of 3 year. If it has gone into liquidation either voluntary or under court order. If it has failed to submit the annual listing fee. No Company, which has been de-listed or suspended, shall be resorted and its shares re-quoted until it removes the causes of delisting and receives the assent of the board for the restoration. ? ? ? ? Recording Department This department although is sub department. This department is responsible for maintain the record for all matter related to stock exchange. They have different folders, for individuals, for general nature and for companies affairs. This record is maintained manually, they maintain the shelves according to nature of companies e. g. the companies related to petroleum are maintained in one part of shelves, chemical sector is also mainted in one area of shelves. For external and internal correspondence, the department maintains two types of record registers separately. The register contain the following columns, Reference No Month and date. Receiving number. Companydepartment name. The dispatch register contain following columns, Issue number. Month and date. Place where to send. Subject. ? Internal correspondence: In ISE most communication is done through letters, when a letter comes from outside they maintained a record in shelves according to nature of letter whether it is related to companies affairs or general in nature. On arrive first the letter is stamped on which date, the day name and serial number is given to letter. In recording register the letter is registered. After recording they sent the letter to concerning department for further process. If the department is not mentioned on letter in which the letter will go. The recording department observes the place of letter. The general letters are sent to department of general administration. When the process is complete from the concerning department letter is sent to sectary and M. D. for final approval. After returning the letter from concerning department the recording department maintains the copy of record in related file. For faxes and telegraph same procedure is adopted. External correspondence: External correspondence is done after the process of documentation is complete. The different departments sent reply or instructions to companies or government departments. Every department sent letters to companies or different external departments according to their responsibility. The record section maintains a copy of document with entry on register. The record on dispatch the register is maintained with date wise and name of company or correspondence name where the letter will go. After preparing the envelops according to instructions of departments where the correspondence will go, a copy of document is disclosed in company or department files which is maintained separately. For faxes and telegraph the same method is applied. Brokerage House The brokerage house in which I worked is run by a member, whose name is Syed Masood Shaukat. There are three types of brokerage houses in Islamabad Stock Exchange. These are following, Individual brokerage house. Partnership brokerage house. Coporate brokerage house. The corporate brokerage houses have a private limited status. The right of ownership for member is transferable to other person. There are 103 members in Islamabad Stock Exchange (ISE). But the members who transact the business in stock exchange are 38 in number, in which individual members run 16 houses, 2 work at partnership bases and 20 exist in coporate form. There is no such fixation some about the transfer of membership to other person, it can be transferred at any time. The exchange charge fee for transfer of membership. System of House: The brokerage house is in the basement of Islamabad stock exchange. It is owned by individual. The houses comprise three big rooms including one hall in which the trade is done. Computer system: There is two systems work in hall, the two screens work at a time. In upper screen the activities of trade in Karachi Stock Market (KSE) with the prices of shares and sign of trend is shown. The screen moves swiftly within seconds with trading activities. The lower screen shows the prices of Islamabad stock Exchange (ISE) which is maintained by the brokerage house. Central Depositary Company (CDC): The central depositary is introduced some time ago for the purpose of on line trading. The stock exchange management has given ultimatum all companies that they should become member of central depositary company (CDC) before of July 31,2003. The central Depositary Company has a public limited status and its share is floating in market. Due to introduction of CDC now the duplication in shares in not possible in market. This system with rapid service also provides accuracy. Members: There are 103 members in stock Islamabad Stock Exchange (ISE). The active members are 38, in which 16 are individual, 2 at parterres and 20 are corporate. In Islamabad Stock Exchange (ISE) the individual brokerage houses are less in number as compared to coporate brokerage houses. ? ? ? ? Trading Process: The trading process is done on line but there is fiscal share trading also occur for some companies which is not become the member of CDC system upto know. After July 31, 2003 there is hope that the fiscal trading will be abolished. When an investor want to sale the share he first from the screen observe the price of shares of company which he is holding the shares. When he saw the he is in the position to make the profit in the market by making the comparison of the price of purchase and at which he want to sale he ask the broker to sale. In selling order he tells the company name, number of shares and the price at which he want to sale. The broker writes the instruction on computer for sale and place. Terms to become the Member of Brokerage House: For open the brokerage house the permission from Securities and Exchange Commission (SECP). The fee and other criteria vary according to instruction of SECP. There are following criteria, He should be a citizen of Pakistan. The age limit is at least 21 years with effect the date on which he is applying. iii) He should be at least graduate. iv) He should pay fee according to latest information Rs. 7500, 000. He should national tax payer. He should not defaulter of any financial institution or any body such that. The membership is transferable to other person, who is able to meet the criteria, which is mentioned above. All three exchanges in the country are restricted by Securities and Exchange Commission of Pakistan (SECP) that they cannot involve in any trading activity regarding to buying and selling of shares. The following activities, which a brokerage house or individual can perform with the permission of SECP, these are, He can sale his seat to other person. He can member of other stock exchanges at a time. He can issue a mutual or units in the form like ICP. ? ? ? ? ? ? ? Commission Slabs: ISE. KSE. Future. |Prices Limit. |Delivery | |Upto Rs. 5 million to Rs. 10 million. |0. 5 million. | |Above Rs. 10 million upto Rs. 20 million. |Rs. 0. 5 million plus 10% of amount exceeding 10 million. | |(Rs. 1. 5 million) | |Above Rs. 20 million upto 50 million. |Rs. 1. 50 million plus 20% million will amount exceeding Rs. 20 | | |million. | | |(Rs. 7. 50 million) | |Above Rs. 50 million and upto Rs. 100 million. |Rs. 7. 50 million plus 25% the amount exceeding 50 million. | | |(Rs. 0 million) | |Over Rs. 100 million. |Rs. 20 million plus amount exceeding Rs. 100 million. | | |(Rs. 50 million for exposure and margin upto 200 million. ) | ? ? Principal of Net Income from clearing: When Laga i s charged on the members accounts after deducting the commission of SECP, investor protection fund (IPF) and member protection fund (MPF) reaming income is the net income from the clearing. The allocation for IPF and MPF is made at the rate of 33. 3% for both after deducting the charges of commission for SECP. Income from clearing = Laga – SECP commission- IPF at 33. 33% MPF at 33. 33%. ? ? ? ? ? ? Department of Finance The finance department deals with all expenses and revenues for the stock exchange. The department uses both methods manually and through computer for recording entries. Sidat Haydir prepares the software, which is used by department for accounting purpose. The exchange pays the specific amount for such right using, beside this the software maker also provides technical services about the software. Codes of software: In finance department there is no direct entry is made about the good name. The account title is established in software with code number chart by department. When a code is entered in system the account name is written and further process for entry is done in ledger and trial balance automatically. The formation of code is made chronigicalay. e. g. Main code: 01 Sub code: 01-001 01-002 Main code is written for title name and sub code is written for further explanation of accounts. The finance department uses the 30 main codes for assets for liabilities. The some important main codes are, Main codes Main codes for assets |Main codes for liabilities | |Fixed assets 01 |Accumulated deficit 30 | |Accumulated depreciation 02 |Member fund 31 | |Long term investment 03 |Clearing house taxes 32 | |Capital work in progress 04 |Rent received in advance 33 | |Security deposits 05 |Advance from companies 34 | |Advance against expenses 06 |Accrued expenses 35 | |Advance against expenses 07 |Pa yable audit fee 36 | |Advance against source 08 |Security deposits from companies 37 | |Advance against tax deduction 09 |Member default 39 | |Advance prepaid 10 |Sundry creditors 40 | Depreciation: The depreciation is charge at the different rate according to exchange policy. The depreciation is charged with through straight line method. The important rates of depreciation is following, ? ? Rate of Depreciation Assets |Rate of Depreciation | |Furniture |10% | |Office Equipment’s |10% | |Computers |33% | |Automation |33% | |Motor vichle |20% | ? Vouchers: When the expense is made is generated the finance department makes the voucher before the entry. There are two types of vouchers, Revenue vouchers or receipts. Expense vouchers. The voucher contain the following things, Name of person who made the expense or give revenue. Date. Particulars. Amount. Total. Expense: The expenses cannot be made without the permission of associate manager of general administration, Managing director, Chairman and secretary. Before expenses the list is made for expenses which is called minute sheet . It is sent to associate manager, Managing director. and chairman for approval. After the approval on sheet the voucher are made according to list and payment is given in form of cheques or cash. If the expense is related to routine matter and small than payment is made in form of cash. In case of high payment, cheques make it. If the others departments want to do some expenses for the purpose of business than they will sent internal office memorandum ( IOM ) to finance department. The internal office memorandum also contains the quotations from different stores. After observing the best alternative the associate manager of general administration asks accountant to prepare minute sheet for approval, the remaining process will remain same for expenses. Revenues: The revenues are received from various sources. When finance department receives the revenues, the vouchers are made with name of sources and date at which it is received by department. The vouchers are made with the help of carbon papers. The original copy is given to the person for his record and carbon copies which contains the yellow and Red color is maintained in the record. Transferring: The depositary slip is maintained for the purpose for deposit in the bank. It contains two parts. When the amount is submitted in the account the entrance is made on depositary slip. If the cash will be deposited in the bank than the entry is made with the note of cash with name of source. But in the case of cheques the cheque numbers are written on the depositary book. The one part of the book is torn and disclosed with cheques for sending in the bank. The other part remained in the book for record. Bank Statement: The bank is received from bank after every six months but know it is collected before every quarter or at any special requirement. The cash book balance is reconciled with bank statement, if any discrepancy arise than it is conformed and adjusted. Budget: The budget is made quarterly basis and than compared with year. For the purpose of budget the department ask other departments to send the estimated expenses and revenue. If there is any special requirement exist than write. The departments send their reports for every quarter. The department compare all estimated budgets before closing of year, if the situation is not meeting according to standard than the department ask other departments to make effort for recovery before closing of the year. Audit: The audit is made with strict measures, there are two types of audits which is used in ISE, Internal audit. External audit. Internal audit: The department of finance makes the internal audit for advance disclose of record before the starting external audit. When the external audit is start it make easy for the department to become faster for such purpose. External audit: The audit is done at the end of quarter in ISE by a reputable firm. There are numbers of auditors in the list of ISE. After the completion of quarterly audits, the annually audit is also done. Principal of audit: Various firms from year to year complete the audit. In annual general meeting the decision is made for selection of auditor and its remuneration. ? ? ? ? ? ? Department of Internal Control The department of under internal performs the technical sensitive functions in Islamabad Stock Exchange (ISE). The main functions of department are, Operate with risk management in ISE. To deal members of ISE. To supervise the information technology (IT) department and clearing house. To deal with Market Monitoring and Surveillance Wing (MSW). Send reports regarding to trading and related matters to Managing director and Secretary of exchange. To give suggestions to SECP for impose penalty on the member in the case of violation. The risk management is the important factor in the business of stock exchange. The department work under the supervision of Marketing Monitoring and Surveillance Wing (MSW) of SECP. The clearing house is a sub department of Internal Control department. Operate with Risk Management: The risk management is the important factor of ISE, different measure are adopted for such purpose in ISE. For efficient functions, a separate department is working in SECP which monitor the functions continuously. Deal with Members: The department deals with the members and gives them instructions regarding to different matters relating to trade. If the member violate any rule regulation than the department recommend and impose penalty for such violence with the help of SECP. Deal with Information Technology (IT) and Clearing House: The information technology department and clearing house are sub departments of internal control. The departments send report regarding to routine matters to internal control. The department also performs some administrative functions for these department. Reporting Role: The department is liable to send report to secretary and managing director. When a special case arises than the department sent special reports and consults them in affairs. Market Monitoring and Surveillance Wing (MSW): This wing was newly established, it is directly connected to ISE and monitors the risk functions. If any complexity in matter arises than the department informs and sent notices to members on the behalf of department of internal control. ? ? ? Contract for web site: The department contract for web site with companies with the help of IT department in ISE. The IT department provides the technical services for such purpose. Control the system audit: The system audit is control by department of internal control. This system newly introduced by ISE, under which the members are bound for audit from reputable charted accountant firm. After reporting from charted account firms a list is prepared for purpose of such audit regarding to members.. If the report is unclear or qualified than some time is given for re audit, despite the time giving if the members fail to re audit or for clearance such audit, the report is send to SECP. After the receiving the report from SECP, the action is taken against such member. Scope of system audit: 1. To ensue that the members is following all the rules and regulations of the exchanges. 2. to ensure that there is a proper documentation and interaction between client and member, 3. To ensure that the member is operating trading workstation properly as required by exchange. 4. To ensure that the members properly paying the dues of exchange. 5. To check that in case of agents, the members are complying with regulation that relate to the registration by exchange. 6. to make sure that the books and record maintain properly, 7. To that the client marinating margin with exchange. 8. To ensure that the member registered properly with SECP and renews its registration annually. 9. To ensure the maintenance by the member of proper record of transactions involving central Depositary company. 10. To ensure that the member prepare its annual financial statements and that these are audited by a practicing by a practicing Charted accountant where the member is a coporate one. 11. To ensure that the future contracts are according to regulation. 12. To ensure that the lots transactions are properly recorded. ? ? ? ? ? ? ? ? ? ? ? Department of Investor Relations Department of investor relations perform the following functions, To provide all information with respect to members on requirements of investors. To deal with the complaints of investors in stock exchange. To meet all legal compliance in judiciary. Maintain the newspapers. Information to members: The information is providing to investor on requirement regarding to member and brokerage house. Complaints of Investors: The complains are received from investors, after completing the procedure the documents are sent to the board of directors for purpose of final decision. If the board observe that the complain is verified than the board made bound the member for recovery. In case of not following the case is referred to court for recovery. Legal compliance: The department of Investor relation is the representative of ISE in the court. It is also responsible to provide all record regarding to member on the demand of court. The department should work for investor welfare. Maintain news: The department is responsible to maintain the record of the newspapers, if the news is related to the important factors, which can effect the performance of stock mark