Human intellectual curiosity Essay Example | Topics and Well Written Essays - 6500 words

Human intellectual curiosity - Essay Example Geography is also the study of the planetary variation of both natural and human phenomena on Earth. Study of Geography is as old as human history. It was systematically studied by the ancient Greeks, who also developed a philosophy of Geography. The most prominent of them were Thales, Eratosthenes, Aristotle, Strabo, and Ptolemy. The Romans also made contributions to Geography by doing the mapping of previously unknown lands. The Arabs also bequeathed in the progress of Geography during the Middle Ages. Human beings have always been involved in pondering over Nature. The real initial recorded achievements were those of the Greeks. Thales was the first philosopher whose mythology was used to explain the nature of the physical world. He introduced Geometry and was a prominent astronomer. He was also the first man who started the real process of pondering and predicting. Raphael Sanzio was the great painter and philosopher whose name is used for the famous "Raphael's The School of Athens". During those days of the 16th century, the meaning of the great old ages was being rediscovered and absorbed in Europe. His painting shows the constellation of great Greek philosophers in a beautiful way. The two great scholars, Plato and Aristotle, are present at the centre of his painting. Plato and Aristotle were two of the great Greek philosophers. ... , with Plato holding his hand upright as if to indicate, "Look to the perfection of the heavens for Truth," while Aristotle holds his arm straight out, implying "Look around you as if you would know the Truth." Plato was also a good astronomer. He was among the first few great scientists who studied the sky with his limited resources and revealed many facts that are still relevant with some minor amendments. Meterorologica, 340 B.C. Aristotle's Meteorologica is considered to be the oldest study on meteorological subjects. The bulk of information proved incorrect according to modern research, but it was considered to be authority in those days up to recent years. The Greek philosophers developed their theories just by observation and mere intellectual pondering, but they never did any experiments to prove them. Yet their theories -while not quite correct- helped a great deal in the foundation of the modern scientific knowledge. For example, some theories and theorems by the great philosopher Pythagoras are still relevant. Plato was deeply interested in Pythagoreanism, even though he was reserved about him. He only mentioned him once by name in all his writings, and all we are told then is that he won the affections of his followers in an unusual degree by teaching them a "way of life," which was called Pythagorean. Aristotle also wrote a special treatise on the Pythagoreans, which has not come down to us, but som e of its quotations are found in later writers. These are of great value as they deal with the religious side of Pythagoreanism. Antikythera Mechanism. The level reached by the Greeks in Astronomy and Engineering is impressively shown by the Antikythera mechanism. In 1901, divers working off the isle of Antikythera found the remains of a 2,000-years-old

Supporting Individuals in Childcare Education

Supporting Individuals in Childcare Education Exceptionalities are neither positive nor negative; rather, they are differences (Darragh, 2010, p. 114). In your own words, explain the term exceptionalities. Then, using one exceptionality outlined in the text on pages 116-127 of the course text, identify developmental challenges the exceptionality may present for the child, and appropriate adaptations, accommodations, or modifications that may need to be considered in order to support the individual childs development and learning. The term exceptionalities have a defining characteristic that is different from the norm for physical and mental abilities. It describes children or people that go beyond what is normal or what society expects. The child can have extra unusual abilities. It can also include children that have disabilities that prevent the child from functioning well in certain areas of development. The same goes for a child with different emotional or health development. It is a difference in development of these different disabilities such as syndromes, impairments, and certain disorders. (Darragh, 2010). In that respect are different classes such as intellectual disability, hearing, oral communication and speech communication, visual, orthopedic, autism, multiple impairments, traumatic injuries to the brain ad giftedness and talent. These are most commonly seen in the classroom. Children that are exceptional have many challenges in front of them. A gifted child can have learning and attention probl ems. There are number of these children that go through school without being diagnosed ad to having special talents or needs. These can also have problems in social emotional such as frustration this is common in a child that has not been diagnosed and their talents and learning have not gone unnoticed or partly addressed. They have a high aspiration and dont like the low expectations that someone may have for them. They want independence and struggle with knowing that they need help with learning and attention issues. They may be trying to be perfect. Low self -esteem is another challenge for a gifted child because if they dont have the support needed they can lose confidence in their abilities or they just quit because they believe they start to think that failure is unavoidable. This thinking can cause depression for the child. Social isolation is another They can feel like they dont fit in into the world or another. They may lack the social skills to be comfortable with other ch ildren in their gifted class. They may have problems relating to children in their regular class. This can cause a child to think, Where do I belong?. They often find it easier to relate to an adult than children that are their age. The truth is a child that is labeled exceptional may be a challenging enough. There are other challenges that they face such as language and communication problems, learning and being involved in daily tasks like playing games and interaction with children. Children can experience challenges in attentiveness and being able to manage their impulses. To accommodate a child that is exceptionalities the parents and the teacher need to recognize the gift or the disability that the children has. Talk to the school if you suspect a child is gifted. Request a meeting with special services coordinator. Tell them your concerns. An example is if a parent or teacher is taking care of a child with autism. You need to make sure you maintain your daily routines because routines for this child is very important. Stay in the gifted program if the child was identified as gifted but not doing well in the program. The child should be assessed for learning and attention problems before you make decisions about removing the child from the program. The childs environment can be fixed by the childs sensitivity by making sure to have books, toys, and appropriate music for the child. You can have a mentor for that child to help the child improve or build on thei r abilities and make a difference in the childs development. Making most of your childs IEP by addressing the childs weakness and to nurture their gifts. To make goals that are long term and short term. Make sure you brainstorm and be persistent. Empower the child by helping the child comprehend what their gifts are and their weaknesses are Let them know that you are there for the child in his struggles in areas. If they are frustrated give them time to figure it out and dont go straight in to help the child. Let them cope with their mixed abilities. Parents that partner with teachers can help that child develop their talents can reach their full potential. Teachers can use charts and pictures in lessons to help in the strengths of the child. Some adaptions can be changes in class work or routines because of the type of disability. Modifications can be done to like the things the child is taught, and the way the child works at school. Accommodations are such as a tape recorder and b ooks on audio. Modifications are changing the curriculum or instruction. When these are made children with disabilities is not expected to master things like others. Supporting the development and learning of each and every child requires specific knowledge of each childs strengths and challenges as well as knowledge of development, exceptionalities, and effective practice. Explain how evidence-based practice synthesizes knowledge of individual children and effective practice. Then, identify how you plan to use this process in your work with young children. The way we take care of children effectively rests in what we know of the childs exceptionalities and the evidence that we use for beneficial activities with them. Knowing the characteristics of the exception and the disabilities makes it easier to care of that child. Applying the knowledge and information that parent and teachers have in the past can be put to the present situation. Evidence-based practice can elevate a family making mistakes by following a process they studied and their values. (Darragh, 2010). This process is encouraging because it shows teachers and the parent they are not by themselves. This helps parents and families to share what their experiences are and when they do this the get extra knowledge and can save time. When I work with exceptional children, I intend on using evidence-based knowledge to see past and to see what the effective method will be for that child. These methods will help in focusing on the childs special issues that they may have. Being spe cialized in this this will help the child to grow and become improved. I will make sure before I deal with these children that I comprehend their needs, and I will research cases and will make sure I stay updated often so that I will be up to date with any new issues. I will research and find out what I need to watch out for in the childs development. I will also use the five-step evidence based decision making. I will ask the question, What my childs main needs are? Look or the best evidence such as what research and practices can give me advise on how to meet the childs main needs. Seeing the quality of the evidence is seeing that the research of the current knowledge is current for the field, and if they will benefit the child. Putting together the research with values and wisdom which is applying what you have learned that respects the child and the family in their way of supporting their child in their development and learning. I will evaluate all the steps such as the childs s trengths and challenges. (Darragh, 2010). I will help the children to make good decisions with their goals that will benefit the child. Understanding the childs unique needs and their cultural and linguistic diversity. The way we can support a child is having the knowledge and skills to understand the diverse needs of the children and their families. We should offer a welcoming, nurturing, and a classroom with respect. Effective assessment is an essential component used to lend insight into young childrens strengths and challenges. However, assessment data, particularly for young children, can be difficult to obtain. Based on pages 245-247 of the course text, explain how play-based, strength-based, and culturally and linguistically sensitive assessment address challenges associated with effective assessment for young children. Play-based assessment is a tool that shows how a childs development in interactions with the environment. (Darragh, 2010). Play opens windows to the childs strengths and the way they cope with things. It is not just social/emotional, cognitive or motor skills. Play gives important documentation on the qualities of the childs relationships. (Darragh, 2010). This is successful with the infant-toddler children. Watching children play teachers can see how a child relates to other children because children are more likely to behave normally when they play. This method is a remedy for challenges that are associated with assessments. The strength-based assessment is criticized this assessment has been great on providing information on a childs abilities. (Darragh, 2010). This information can be checked with the expectations of a normal child. This type of assessment strength is it focuses on what children can do instead of what they cannot. Culturally and linguistically is a sensitive, resp ectful and responds to the childs learning needs assessment. This is the best because it focuses on both the cultural and the linguistic aspects. At the beginning assessments were done in English and now they have Spanish language ones. When in English this made, it challenging because of a small number of assessment tools. The assessments have addressed the issues by getting appropriate tools for assessment which they are free from cultural and linguistic bias. It also takes account for the cultural information that the child accepts. The observation of the children is getting to know the child and the interaction they have with their environment and by listening and watching them it helps in your ability to make decisions on teaching and learning.

Symbolism In The Great Gatsby Essay -- essays research papers

Symbolism in The Great Gatsby   Ã‚  Ã‚  Ã‚  Ã‚  F. Scott Fitzgerald, author of The Great Gatsby, uses symbolism throughout the novel to create the characters and events of the post World War I period. Colors are one way symbolism was used to develop the characters’ personalities and set up events. This is shown by colors like the green at the end of Daisy Buchannan’s dock, the color of Jay Gatsby’s car and how Myrtle and Jordan surrounded themselves by white. Other symbolisms used to set up events are the difference in the people of the West Egg and East Egg and the sign in the â€Å"valley of ashes†. Daisy Buchanan has a green light at the end of her of dock on the other side of the bay from Jay Gatsby’s house. The green light represents Jay’s money, jealousy, and the go ahead for Jay Gatsby to get Daisy back from Tom no matter what it takes.. â€Å"Gatsby stretched his arms towards the dark water in a curious way, and as far as I was from him I could have sworn he was trembling. Involuntarily I glanced seaward-and distinguished nothing except a single green light, minute and far away, that might have been the end of the dock† (p25-26). Jay Gatsby thinks that money will make his former lover come back to him. Every one that attends the party is very envious of Jay Gatsby’s money. Gatsby is very jealous of Tom because he is married to Daisy.   Ã‚  Ã‚  Ã‚  Ã‚   Countryman 2 Gatsby bought a gold car to show of his great wealth. He wanted Daisy to see the car, ...

The Return: Midnight Chapter 14

The next morning Elena noticed that Meredith stil looked pale and languid, and that her eyes slid away if Stefan happened to glance at her. But this was a time of crisis, and as soon as the breakfast dishes were washed, Elena cal ed a meeting in the parlor. There she and Stefan explained what Meredith had missed during the visit from the sheriffs. Meredith smiled wanly when Elena told how Stefan had banished them like stray dogs. Then Elena told the story of her out-of-body experience. It proved one thing, at least, that Bonnie was alive and relatively well. Meredith bit her lip when Mrs. Flowers said this, for it only made her want to go and get Bonnie out of the Dark Dimension personal y. But on the other hand, Meredith wanted to stay and wait for Alaric's photographs. If that would save Fel ‘s Church†¦ No one at the boardinghouse could question what had happened on the Island of Doom. It was happening here, on the other side of the world. Already a couple of parents in Fel ‘s Church had had their children taken away by the Virginia Department of Child Protective Services. Punishments and retaliations had begun. How much longer would it be before Shinichi and Misao turned al the children into lethal weapons – or let loose those already turned? How long before some hysterical parent kil ed a kid? The group sitting in the parlor discussed plans and methods. In the end, they decided to make jars identical to those Elena and Bonnie had seen, and prayed that they could reproduce the writing. These jars, they were sure, were the means by which Shinichi and Misao were original y sealed off from the rest of the Earth. Therefore Shinichi and Misao had once fit into the rather cramped accommodations of the jars. But what did Elena's group have now that could lure them back inside? Power, they decided. Only an amount of Power so great that it was irresistible to the kitsune twins. That was why the priestess had tried to lure them back with her own blood. Now†¦it meant either the liquid in a ful star bal †¦or blood from an extraordinarily powerful vampire. Or two vampires. Or three. Everyone was sober, thinking of this. They didn't know how much blood would be needed – but Elena feared that it would be more than they can afford to lose. It had certainly been more than the priestess could afford. And then there was a silence that only Meredith could fil . â€Å"I'm sure you've al been wondering about this,†she said, producing the staff thing from thin air, as far as Elena could see. How did she do that? Elena wondered. She didn't have it with her and then she did. They al stared in the bright sunlight at the sleek beauty of the weapon. â€Å"Whoever made that,†Matt said, â€Å"had a twisted imagination.† â€Å"It was one of my ancestors,†Meredith said. â€Å"And I won't contest that.† â€Å"I have a question,†Elena said. â€Å"If you'd had that from the beginning of your training; if you'd been raised in that kind of world, would you have tried to kil Stefan? Would you have tried to kil me when I became a vampire?† â€Å"I wish I had a good answer to that,†Meredith said, her dark gray eyes pained. â€Å"But I don't. I have nightmares about it. But how can I ever say what I would have done if I'd been a different person?† â€Å"I'm not asking that. I'm asking you, the person you are, if you'd had the training – â€Å" â€Å"The training is brainwashing,† Meredith said harshly. Her composed fa?ade seemed about to break. â€Å"Okay, forget that. Would you have tried to kil Stefan, if you'd just had that staff?† â€Å"It's cal ed a fighting stave. And we're cal ed – people like my family, except that my parents dropped out – hunter-slayers.† There was a sort of gasp around the table. Mrs. Flowers poured Meredith more herbal tea from the pot sitting on a trivet. â€Å"Hunter-slayers,†repeated Matt with a certain relish. It wasn't hard to tel who he was thinking about. â€Å"You can just cal us one or the other,†Meredith was saying. â€Å"I've heard that out west they've got hunter-kil ers. But we hang on to tradition here.† Elena suddenly felt like a lost little girl. This was Meredith, her big sister Meredith, saying al of this. Elena's voice was almost pleading. â€Å"But you didn't even tel on Stefan.† â€Å"No, I didn't. And, no, I don't think I'd have had the courage to kil anyone – unless I'd been brainwashed. But I knew Stefan loved you. I knew he would never make you into a vampire. The problem was – I didn't know enough about Damon. I didn't know that you were fooling around so much. I don't think anybody knew that.†Meredith's voice was anguished, too. â€Å"Except me,†Elena said, flushing, with a lopsided smile. â€Å"Don't look so sad, Meredith. It worked out.† â€Å"You cal having to leave your family and your town because everyone knows you're dead, working out?† â€Å"I do,†Elena replied desperately, â€Å"if it means I get to be with Stefan.†She did her best not to think about Damon. Meredith looked at her blankly for a moment, then put her face in her hands. â€Å"Do you want to tel them or should I?†she asked, coming up for air and facing Stefan. Stefan looked startled. â€Å"You remember?† â€Å"Probably as much as you got from my mind. Bits and pieces. Stuff I don't want to remember.† â€Å"Okay.†Now Stefan looked relieved, and Elena felt frightened. Stefan and Meredith had a secret together? â€Å"We al know that Klaus made at least two visits to Fel ‘s Church. We know that he was – completely evil – and that on the second visit he planned to be a serial murderer. He kil ed Sue Carson and Vickie Bennett.† Elena interrupted quietly. â€Å"Or at least he helped Tyler Smal wood to kil Sue, so that Tyler could be initiated as a werewolf. And then Tyler got Caroline pregnant.† Matt cleared his throat as something occurred to him. â€Å"Uh – does Caroline have to kil somebody to be a ful werewolf, too?† â€Å"I don't think so,†Elena said. â€Å"Stefan says that having a werewolf litter is enough. Either way, blood is spil ed. Caroline wil be a ful werewolf when she has her twins, but she'l probably begin changing involuntarily before that. Right?† Stefan nodded. â€Å"Right. But getting back to Klaus: What was it he was supposed to have done on his first visit? He attacked – without kil ing – an old man who was a ful hunter-slayer.† â€Å"My grandfather,†Meredith whispered. â€Å"And he supposedly messed with Meredith's grandfather's mind so much that this old man tried to kil his wife and his three-year-old granddaughter. So what is wrong with this picture?† Elena was truly frightened now. She didn't want to hear whatever was coming. She could taste bile, and she was glad that she'd only had toast for breakfast. If only there had been someone to take care of, like Bonnie, she would have felt better. â€Å"I give up. So what is wrong?†Matt asked bluntly. Meredith was staring into the distance again. Final y Stefan said, â€Å"At the risk of sounding like a bad soap opera†¦Meredith had, or has, a twin brother.† Dead silence fel over the group in the parlor. Even Mrs. Flowers's Ma ma didn't put in a word. â€Å"Had or has?†Matt said final y, breaking the silence. â€Å"How can we know?†Stefan said. â€Å"He may have been kil ed. Imagine Meredith having to watch that. Or he could have been kidnapped. To be kil ed at a later time – or to become a vampire.† â€Å"And you real y think her parents wouldn't tel her?†Matt demanded. â€Å"Or would try to make her forget? When she was – what, three already?† Mrs. Flowers, who had been quiet a long time, now spoke sadly. â€Å"Dear Meredith may have decided to block out the truth herself. With a child of three it's hard to say. If they never got her professional help†¦Ã¢â‚¬ She looked a question at Meredith. Meredith shook her head. â€Å"Against the code,†she said. â€Å"I mean, strictly speaking, I shouldn't be tel ing any of you this, and especial y not Stefan. But I couldn't stand it anymore†¦having such good friends, and constantly deceiving them.† Elena went over and hugged Meredith hard. â€Å"We understand,†she said. â€Å"I don't know what wil happen in the future if you decide to be an active hunter – â€Å" â€Å"I can promise you my friends won't be on my list of victims,†Meredith said. â€Å"By the way,†she added, â€Å"Shinichi knows. I'm the one who's kept a secret from my friends al my life.† â€Å"Not any longer,†Elena said, and hugged her again. â€Å"At least there are no more secrets now,†Mrs. Flowers said gently, and Elena looked at her sharply. Nothing was ever that simple. And Shinichi had made a whole handful of predictions. Then she saw the look in the mild blue eyes of the old woman, and she knew that what was important right then was not truth or lies, or even reckonings, but simply comforting Meredith. She looked up at Stefan while stil hugging Meredith and saw the same look in his eyes. And that – made her feel better somehow. Because if it was truly â€Å"no secrets†then she would have to figure out her feelings about Damon. And she was more afraid of that than of facing Shinichi, which was saying quite a lot, real y. â€Å"At least we've got a potter's wheel – somewhere,†Mrs. Flowers was saying. â€Å"And a kiln in the back, although it's al grown over with Devil's Shoestring. I used to make flowerpots for outside the boardinghouse, but children came and smashed them. I think I could make an urn like the ones you saw if you can draw one for me. But perhaps we'd better wait for Mr. Saltzman's pictures.† Matt was mouthing something to Stefan. Elena couldn't make it out until she heard Stefan's voice in her mind. He says Damon told him once that this house is like a swap meet, and you can find anything here if you look hard enough. Damon didn't make that up! I think Mrs. Flowers said it first, and then it sort of got around, Elena returned heatedly. â€Å"When we get the pictures,†Mrs. Flowers was saying brightly, â€Å"we can get the Saitou women to translate the writing.† Meredith final y moved back from Elena. â€Å"And until then we can pray that Bonnie doesn't get into any trouble,†she said, and her voice and face were composed again. â€Å"I'm starting now.† Bonnie was sure she could stay out of trouble. She'd had that strange dream – the one about shedding her body, and going with Elena to the Island of Doom. Fortunately, it had seemed to be a real out-of-body experience, and not something she had to ponder over and try to find hidden meanings in. It didn't mean she was doomed or anything like that. Plus, she'd managed to live through another night in this brown room, and Damon had to come and get her out soon. But not before she had a sugarplum. Or two. Yes, she had gotten a taste of one in the story last night, but Marit was such a good girl that she had waited for dinner to have any more. Dinner was obtained in the next story about the Dustbins, which she'd plunged into this morning. But that contained the horror of little Marit tasting her first hand-caught piece of raw liver, fresh from the hunt. Bonnie had hastily pul ed the little star bal off her temple, and had determined not to do anything that could possibly get her on a human hunting range. But then, compulsively, she had counted up her money. She had money. She knew where a shop was. And that meant†¦shopping! When her bathroom break came around, she managed to get into a conversation with the boy who usual y led her to the outdoor privy. This time she made him blush so hard and tug at his earlobe so often that when she begged him to give her the key and let her go by herself – it wasn't as if she didn't know the way – he had relented and let her go, asking only that she hurry. And she did hurry – across the street and into the little store, which smel ed so much of melting fudge, toffee being pul ed by hand, and other mouth-watering smel s that she would have known where she was blindfolded. She also knew what she wanted. She could picture it from the story and the one taste Marit had had. A sugarplum was round like a real plum, and she'd tasted dates, almonds, spices, and honey – and there may have been some raisins, too. It should cost five soli, according to the story, but Bonnie had taken fifteen of the smal coppery-looking coins with her, in case of a confectionary emergency. Once inside, Bonnie glanced warily around her. There were a lot of customers in the shop, maybe six or seven. One brown-haired girl was wearing sacking just like Bonnie and looked exhausted. Surreptitiously, Bonnie inched toward her, and pressed five of her copper soli into the girl's chapped hand, thinking, there – now she can get a sugarplum just like me; that ought to cheer her up. It did: the girl gave her the sort of smile that Mother Dustbin often gave to Marit when she had done something adorable. I wonder if I should talk to her? â€Å"It looks pretty busy,†she whispered, ducking her head. The girl whispered back, â€Å"It has been. Al yesterday I kept hoping, but at least one noble came in as the last one left.† â€Å"You mean you have to wait until the shop's empty to – ?† The brown-haired girl looked at her curiously. â€Å"Of course – unless you're buying for your mistress or master.† â€Å"What's your name?†Bonnie whispered. â€Å"Kelta.† â€Å"I'm Bonnie.† At this Kelta burst into silent but convulsive giggles. Bonnie felt offended; she'd just given Kelta a sugarplum – or the price of one, and now the girl was laughing at her. â€Å"I'm sorry,†Kelta said when her mirth had died down. â€Å"But don't you think it's funny that in the last year there are so many girls changing their names to Alianas and Mardeths, and Bonnas – some slaves are even being allowed to do it.† â€Å"But why?†Bonnie whispered with such obvious genuine bewilderment that Kelta said, â€Å"Why, to fit into the story, of course. To be named after the ones who kil ed old Bloddeuwedd while she was rampaging through the city.† â€Å"That was such a big deal?† â€Å"You real y don't know? After she was kil ed al her money went to the fifth sector where she lived and there was enough left over to have a holiday. That's where I'm from. And I used to be so frightened when I was sent out with a message or anything after dark because she could be right above you and you'd never know, until – â€Å"Kelta had put al her money into one pocket and now she mimed claws descending on an innocent hand. â€Å"But you real y are a Bonna,†Kelta said, with a flash of white teeth in rather dingy skin. â€Å"Or so you said.† â€Å"Yeah,†Bonnie said feeling vaguely sad. â€Å"I'm a Bonna, al right!†The next moment she cheered up. â€Å"The shop's empty!† â€Å"It is! Oh, you're a good-luck Bonna! I've been waiting two days.† She approached the counter with a lack of fear that was very encouraging to Bonnie. Then she asked for something cal ed a blood jel y that looked to Bonnie like a smal mold of strawberry Jel -O, with something darker deep inside. Kelta smiled at Bonnie from under the curtain of her long, unbrushed hair and was gone. The man who ran the sweetshop kept looking hopeful y at the door, clearly hoping a free person – a noble – would come in. No one did, however, and at last he turned to Bonnie. â€Å"And what is it you want?†he demanded. â€Å"Just a sugarplum, please?†Bonnie tried hard to make sure her voice didn't quaver. The man was bored. â€Å"Show me your pass,†he said irritably. It was at that point that Bonnie suddenly knew that everything was going to go horribly wrong. â€Å"Come on, come on, snap it up!†Stil looking at his accounting books, the man snapped his fingers. Meanwhile Bonnie was running a hand over her sack-cloth smock, in which she knew perfectly well there was no pocket, and certainly no pass. â€Å"But I thought I didn't need a pass, except to cross sectors,†she babbled final y. The man now leaned over the counter. â€Å"Then show me your freedom pass,†he said, and Bonnie did the only thing she could think of. She turned and ran, but before she could reach the door she felt a sudden stinging pain in her back and then everything went blurry and she never knew when she hit the ground.

Capital Budgeting Essay

This paper will give a comparison between the various preferred capital budgeting evaluation techniques in the corporate business setting. There will be a recommendation given for the Guillermo Furniture Company based on the results of one or more evaluation techniques, which in turn will help direct the financial health of the organization. Corporations are continually striving to improve the financial health of its organization and one strategic way many corporations are doing that is through capital budgeting. Capital budgeting involves choices. The choices revolve around projects that will add value to the organization. The projects can include acquiring land, purchasing a truck, or replacing old equipment. Many times, corporations are encouraged to undertake projects that will increase its profitability. The challenge is to find the appropriate evaluation method to bring the intended profitability into reality. The three preferred evaluation methods that many corporations use are net present value, internal rate of return, and payback period. Many corporations often calculate capital budgeting solutions using all three methods. However, each method often produces contradictory results. The net present value method is the most accurate valuation approach to capital budgeting issues (smallbusiness). If a corporation can discount the after tax cash flow by the weighted average cost of capital, managers can determine if the project will be profitable or not. The net present value method reveals exactly how profitable a project will be to the corporation versus the alternative methods (Chen, 2012). With the various evaluation methods, corporations can base the decisions for the future on the results of the evaluation. The net present value method takes the time value of money by discounting an investment’s future return to a present value (Chen, 2012). The thought behind the time value of money concept is that a dollar in hand today is worth more than the same dollar in the future. In capital budgeting decisions, the net present value discount is taken into consideration when the present value of the future return is compared with the present value of the cash outflows on any investment (Mason, 2011). If a corporation, such as Guillermo Furniture, is considering using the net present value method, the return on the investment would show clearly whether it is more than sufficient to increase the financial health of the corporation or not. Another preferred evaluation method is the internal rate of return. The internal rate of return is a discount rate that results from a net present value equal to zero (Mason, 2011). When the internal rate of return is higher than the weighted average cost of capital, it would be considered a profitable endeavor and thus should be pursued (Steven, 2010). A major advantage of the internal rate of return method is that it provides a benchmark for every project (Steven, 2010). This can allow a corporation to compare projects on the basis of the return on invested capital. For example, if Guillermo Furniture’s internal rate of return results higher than the cost of capital, it would be determined that the project is acceptable, and the corporation should move forward on the project. However, if the results are less than the cost of capital, the corporation should abort the project as it would hurt the financial health of the corporation. The final preferred evaluation method used by corporations is the payback period method. The payback period method reveals the amount of time it would take to recover the initial investment on a particular project (smallbusiness). Even though this method is considered preferred, it can result in disappointment for many corporations who value the results (Steven, 2010). The main reason is the results do not factor in the cash flow in its entirety from a certain project, which can skew the overall result of the return on the potential investment (Steven, 2010). When a corporation analyzes this method, it is determined that it results in a break even measure and only measures the economic life of the particular investment revolving around the payback period (Steven, 2010). This method is used mainly as a comparative measure for the net present value and the internal rate of return giving a time frame of recovering the initial investment. After considering the three preferred evaluation methods, it was determined that the net present value method would be the method of choice for the Guillermo Furniture scenario for a couple of reasons. First, the corporation cannot rely solely on the payback method because it does not take into account the entire cash flow for the project. After calculating how much time it would take to recover the initial investment, it was found that it would take more than 50 years, which is unrealistic for capital budgeting purposes. The focus shifted to the second preferred method of internal rate of return. The internal rate of return proved that the return on the investment would only yield 10%. The calculation was based on taking the total investment of $1,354,141. 21 and dividing it on the number of years the profit was expected to continue, which totaled $133,742. 20. The expected rate of return for the project had to be at least 12% for the project to be acceptable. Based on the net present value calculations and taking the required rate of return of 12%, the number of years the profit is expected to continue, which is 5, and the future annual cash flows amount of $26,748. 4, the present value of future cash flows equaled $96,422. 14. The net present value is measured by taking the investment outflow ($96,422. 14) minus the present value of future cash flows ($1,354,141. 21), which equals $1,257,719. 07. By dividing this amount by the investment outflow, the rate of return on investment yields 13%. Therefore, it would be recommended that Guillermo Furniture use the net present valu e method for this project as it would improve the financial health of the corporation.