The Effects of Ownership Structure, Board Effectiveness...

THE EFFECTS OF OWNERSHIP STRUCTURE, BOARD EFFECTIVENESS AND MANAGERIAL DISCRETION ON PERFORMANCE OF LISTED COMPANIES IN KENYA ONGORE, VINCENT OKOTH Thesis submitted in fulfillment of the requirements for the award of the degree of Doctor of Philosophy (Ph D) in Business Administration, School of Business, University of Nairobi, Kenya. 2008. DECLARATION I declare that this thesis is my original work and, to the best of my knowledge, has not been submitted to any university for a degree. ONGORE VINCENT OKOTH Date REG. NUMBER: D80/8987/2001 This thesis has been submitted with our authority as the candidate’s appointed university supervisors. PROF. PETER O. K’OBONYO, Ph D Date Department of Business†¦show more content†¦I wish to sincerely thank all my lecturers at the University of Nairobi’s School of Business for guiding me through this rigorous but enriching process. Professor Nzele Nzomo is deserving of a good mention as the one who single-handedly insisted on respecting the â€Å"principles of sourcing.† I am sincerely grateful to Professor Nzomo for improving the format of this thesis. Prof. Meroka Mbeche, Prof. Francis Kibera Prof. Ganesh Prasad Pokhariyal and Dr. Gituro Wainaina provided the very crucial analytical skills that went into this thesis. Without these wonderful professors, the whole research would have come down crumbling for lack of analytical tools. I also thank Dr. X. N. Iraki for sharing with me his special statistical and analytical skills and insights that have proved exceedingly useful in the course of data analysis. Professor Germano Mwabu, Prof. Winnie Mitula, Dr. Philip Nying’uro, Dr. Otieno Agwanda, Dr. Mwenda Mbatia, Dr. Oriare Nyarwath, Dr. Seth Gor, David Onuong’a, Luther Otieno-Odhiambo and Ambrose Ochieng’ Oloo kept me on my toes to complete the PhD programme. Special gratitude goes to Dan K’Oliech, a graduate student in Education at Kenyatta University, and Mike Odindo of ICT Department at Kenya Revenue Authority (KRA) for their special assistance with formatting and organization of the data. The CEOs and managers who participated in this study as respondents deserve special thanks for their invaluable role inShow MoreRelatedThe Relationship Between Ownership Structure and Firm Performance: an Empirical Analysis of Listed Companies in Kenya5536 Words   |  23 PagesTHE EFFECTS OF OWNERSHIP STRUCTURE AND BOARD EFFECTIVENESS ON FIRM PERFORMANCE: NEW EVIDENCE FROM KENYA Vincent O. Ongore, PhD Assistant Commissioner Kenya Revenue Authority P.O. Box 48240-00100, GPO Phone: + 254 (20) 310900 Mobile: +254 723854796 Nairobi. Email: Vincent.ongore@kra.go.ke Abstract Research on corporate governance is very thin on the role of owners on corporate performance, especially how risk-taking orientation of owners comes to bear on decision making processes ofRead MoreThe Relationship Between Executive Compensation and Firm Performance in Kenyan Banking Industry12802 Words   |  52 Pages THE RELATIONSHIP BETWEEN EXECUTIVE COMPENSATION AND FIRM PERFORMANCE IN KENYAN BANKING INDUSTRY Dr. Josiah Aduda, jaduda@uonbi.ac.ke, Lecturer and chairman, department of Finance and Accounting, School of Business, University of Nairobi, Kenya and Leonard Musyoka, University of Nairobi Abstract Economic theory of executive pay has focused on the design of optimal compensation schemes to align the interests of hired managers and shareholders. Agency theory has identifiedRead MoreKraft Annual Report99993 Words   |  400 Pagesaccelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one): Accelerated filer  ¨ Non-accelerated filer  ¨ Smaller reporting company  ¨ Large accelerated filer x (Do not check if a smaller reporting company) Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes  ¨ No x The aggregate marketRead MoreManagement Course: Mba−10 General Management215330 Words   |  862 PagesHughes−Ginnett−Curphy The Art of M A: Merger/Acquisitions/Buyout Guide, Third Edition Reed−Lajoux and others . . . This book was printed on recycled paper. Management http://www.mhhe.com/primis/online/ Copyright  ©2005 by The McGraw−Hill Companies, Inc. All rights reserved. Printed in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a databaseRead MoreNokias Human Resources System144007 Words   |  577 PagesStahlberg, Vice President, Assistant General Counsel Telephone: +358 (0)7 1800 ­8000, Facsimile: +358 (0) 7 1803 ­8503 Keilalahdentie 4, P.O. Box 226, FI ­00045 NOKIA GROUP, Espoo, Finland (Name, Telephone, E ­mail and/or Facsimile number and Address of Company Contact Person) Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 (the â€Å"Exchange Act†): Title of each class Name of each exchange on which registered American Depositary Shares Shares (1) New York StockRead MoreHbr When Your Core Business Is Dying74686 Words   |  299 PagesA l rights reserved APRIL 2007 Features 58 What Your Leader Expects of You Larry Bossidy A longtime CEO reveals the behaviors that leaders should look for in their subordinates – behaviors that drive individual as well as corporate performance and growth – and what those subordinates should expect in return. 58 66 Finding Your Next Core Business Chris Zook It may be hidden right under your nose. Here’s how to evaluate your current core and where to look for a new one. 78 Read MoreSocioeconomic Status in Brazil42043 Words   |  169 PagesBritish Airways Plc Annual Report and Accounts Year ended 31 December 2012 Company registration number: 1777777 This page has been intentionally left blank Contents Officers and professional advisers 1 Business review and Directors’ report Business review Management review Financial review Internal controls and risk management Directors’ report 2 5 8 12 Directors’ responsibilities statement in relation to the financial statements 14 Independent auditors’ report 15 Read MoreDeveloping Management Skills404131 Words   |  1617 Pages79 SKILL ANALYSIS 84 Cases Involving Self-Awareness 84 Communist Prison Camp 84 Computerized Exam 85 Decision Dilemmas 86 SKILL PRACTICE 89 Exercises for Improving Self-Awareness Through Self-Disclosure 89 Through the Looking Glass 89 Diagnosing Managerial Characteristics 90 An Exercise for Identifying Aspects of Personal Culture: A Learning Plan and Autobiography 92 SKILL APPLICATION 95 Activities for Developing Self-Awareness 95 Suggested Assignments 95 Application Plan and Evaluation 95 SCORINGRead MoreManaging Information Technology (7th Edition)239873 Words   |  960 PagesCONTENTS: CASE STUDIES CASE STUDY 1 Midsouth Chamber of Commerce (A): The Role of the Operating Manager in Information Systems CASE STUDY I-1 IMT Custom Machine Company, Inc.: Selection of an Information Technology Platform CASE STUDY I-2 VoIP2.biz, Inc.: Deciding on the Next Steps for a VoIP Supplier CASE STUDY I-3 The VoIP Adoption at Butler University CASE STUDY I-4 Supporting Mobile Health Clinics: The Children’s Health Fund of New York City CASE STUDY I-5 Read MoreProject Mgmt296381 Words   |  1186 Pages(.2) 1.4.1 Managing the portfolio 1.4.3 Strategy and projects 2.3 Stakeholders and review boards 12.1 RFP’s and vendor selection (.3.4.5) 11.2.2.6 SWAT analysis 6.5.2.7 Schedule compression 9.4.2.5 Leadership skills G.1 Project leadership 10.1 Stakeholder management Chapter 11 Teams Chapter 3 Organization: Structure and Culture 2.4.1 Organization cultures [G.7] 2.4.2 Organization structure [9.1.3] 9.1.1 Organization charts 1.4.4 Project offices Chapter 4 9.2 Building the team

Effects of False Memories Essay examples - 1753 Words

False memories have been the subject of many studies since Deese (1959) investigated their effects. False memories include distorting features of events and situations or recalling facts and memories that never occurred at all (Roediger and McDermott, 1995). Roediger and McDermott’ (1995), experiment based on Deese’s (1959) experiment renewed the interest in false memories and invented the Deese-McDermott-Roediger Paradigm which many studies surround. Their study focused on eliciting false memories through receiving lists of words and being asked to recall those that were present from a separate list that included a critical word that if recalled, showed presence of false memory effects. Notably many participants were sure that the†¦show more content†¦These photos either contained details about themselves, unfamiliar details or both. Their results found that the highest false memory effects occurred for those photos that contained only personal details. Photos that had both details had the overall lowest rating for a previous memory. Showing that false memories are more likely to occur when personal information is presented, but unfamiliar information hindered the process. These studies only included undergraduate students, therefore consisting mainly of young adults. This raises questions on whether results can be generalised to those in all age groups. False memory studies also directly focused on eyewitness testimonies. Gerrie, Belcher and Garry (2006) studied video clips, as they most likely reflect real-life. By omitting either crucial or non-crucial steps they tested what participants were likely to falsely recall. They found that false memory effects did occur for those shown the video with the non-crucial steps missing. These participants were more likely to fill in what was missing and falsely remember non-crucial steps in between. This was found without any external suggestions on what should occur. This can benefit eyewitness testimony as by determining what aspects of a situation are more susceptible can better determine what memories may be false. These studies have attempted to decipher how falseShow MoreRelatedThe Effects Of False Memory On Word Association1255 Words   |  6 Pages False Memory Cammie Wires George Mason University False Memory Introduction Multiple studies have been conducted that investigate false memory in humans focusing on word recall, processing and retention interval, and auditory imaging. Roediger and McDermott (1995) suggest that individuals who participated in their study are more likely to recall the critical words and lures if the list of words presented were closely associated to them. Critical lures are the tendency to recall wordsRead MoreFalse Memories are Affecting Us All Essay1596 Words   |  7 PagesIntro: What Are False Memories? Have you every specifically remembered an event such as going to a basketball game then you were reminded by someone that you didn’t go because you were sick or something. If so, you have created a false memory. The study of false memories began in the early 1990’s when people started to report â€Å"recovered† memories of abuse (Laney Loftus 1). To understand how false memories work, you first need a basic understanding of how the memory works. In general your brainRead MoreThe Security of Our Memory1201 Words   |  5 PagesMemory seems to be less secure and reliable than is popularly thought. Bartlett and other social scientists have tested the security of our memory and have accumulated significant results showing the limitations of our memory and the extent to which our abilities of recall often play us up. Bartlett, for instance, discovered that people formed memories in line with their cultural indoctrination and schemas. Following Bartletts publicized results, researchers have been interested in finding determinantsRead MoreUsing A Similar Deign And Mcdermott s False Memory Experiment Essay1423 Words   |  6 PagesThe current experiment used a similar deign as Roediger and McDermott’s (1995) false memory experiment. In this 2x2 mixed factorial designed experiment, memory was tested using a word list that was either blocked by five critical words on a particular subject or randomized. Participants were university college students who participated for course credit. There was a significant difference in false memory when the blocked vs. random lists were compared to examine which had more words rememberedRead MoreDoes Drm Effect Affect Memory?1553 Words   |  7 PagesDRM paradigm has been used to produce false memories in controlled conditions. For our project we used positive and neutral mood inductions to examine an effect on false memories using the DRM lists. Storbeck and Clore (2005) found that negative mood lead s to fewer false memories and that there is not effect of positive mood on memory. The current experiment is rested on two hypotheses: one that mood does not affect memory; therefore, accuracy will not differ between the two conditions. Second hypothesisRead MoreEssay On Caffeine1006 Words   |  5 Pagestypical cup of coffee encompasses about ninety-five milligrams of caffeine. Studies have been performed to observe the effects of caffeine and how it effects so many individuals. For an instance, some studies have discovered that the effects of caffeine may be different for some individuals depending on individual differences such as level of fatigue (Oei Hartley 2005). These effects lead people to behavioral differences between someone who’s had caffeine and someone who hasn’t. Typically peopleRead MoreFacts About The Human Brain1247 Words   |  5 PagesPsychologists are constantly researching the what, when, why, and how of various behaviors of people. One of the more popular topics in this field is memory and the different components involved in false memory in humans. A false memory occurs when a person recalls an event that never happened, or remembers an event differently from the way it happened. For the most part, our brain is a reliable source, but it does contain errors and it is easily tricked. There have been times where I have lockedRead MoreA False Memory Is The Recollection Of An Event That Never1361 Words   |  6 PagesA false memory is the recollection of an event that never occurred. Formation of false memories happens due to a variety of factors, including hypnosis, source confusion, and suggestion (Gray and Bjorklund, 2014). Another cause is simply imagining the occurrence of an event, and over time it becomes believed that this event actually happened. This phenomenon is known as the imagination inflation effect. Previous research indicated that telling individuals that an event happened to them during theirRead Mor eMandela Effect Essay705 Words   |  3 PagesHuman memory is a peculiar thing and many people question the phenomenon of false memories. A false memory is the psychological phenomenon where a person recalls something that simply did not happen. Psychologists only know a limited amount about memory and how it works, there is plenty of information out there that is a mystery to us. The Mandela Effect is a type of memory glitch that has caused a lot buzz in recent years, it’s best referred to as an instance of collective misremembering. The nameRead MoreArgumentative Essay : The Mandela Effect1112 Words   |  5 PagesMandela Effect Argumentative Paper Every journey into the past is complicated by delusions, false memories, false namings of real events. This is a quote by Adrienne Rich, and American poet, which sums up the Mandela Effect extremely well. The Mandela Effect is a complex subject with plenty of evidence, examples, theories, and witnesses. Its described as The observed phenomenon of people having clear memories of events that did not occur or misremembering significant events and facts., also

The Silver Linings Playbook Chapter 28 Free Essays

I Will Have to Require a First-Place Victory â€Å"Question number one,† my father says. â€Å"How many touchdowns will McNabb throw against the Saints?† I can hardly believe I am actually eating a sit-down meal with my father. Mom smiles at me as she winds spaghetti around her fork. We will write a custom essay sample on The Silver Linings Playbook Chapter 28 or any similar topic only for you Order Now She even shoots me a wink. Now don’t get me wrong, I am happy that Mom’s plan has worked out, and I am delighted to be eating a meal with my father, having a conversation even – and I am especially happy to see my parents playing with love again – but I also know my father, and I worry that a single Eagles loss will turn Dad back into a grump. I worry for Mom, but decide to ride out the moment. â€Å"Ten touchdowns,† I tell my father. Dad smiles, pops a small sausage into his mouth, chews enthusiastically, and then tells my mother, â€Å"Pat says ten touchdowns.† â€Å"Maybe eleven,† I add, just to be optimistic. â€Å"Question number two. How many touchdowns will undrafted rookie sensation Hank Baskett catch?† Now, I fully realize that Baskett has only caught one TD in the first five games, but I also know my family is being overly optimistic tonight, so I say, â€Å"Seven.† â€Å"Seven?† Dad says, but smiling. â€Å"Seven.† â€Å"He says seven, Jeanie. Seven!† To me Dad says, â€Å"Question number three. In what quarter will quarterback Drew Brees finally suffer a concussion because he has been sacked so many times by the Eagles’ superior defense?† â€Å"Um. That’s a tough one. The third quarter?† â€Å"That is incorrect,† my father says, shaking his head in mock disappointment. â€Å"First quarter is the correct answer. Question four. When are you going to bring home that broad you’re always running with? When are you going to introduce your girlfriend to your father?† When Dad finishes asking question four, he slurps a load of spaghetti into his mouth and then begins chewing. When I fail to respond, he encourages me with his left hand, tracing invisible circles with his index finger. â€Å"Did you see that Pat found his wedding pictures and put them back up in the living room?† Mom says, and her voice sort of quivers. â€Å"Jake told me you were over Nikki,† Dad says. â€Å"He said you were into this Tiffany broad. No?† â€Å"May I be excused?† I ask my mother, because my little scar is itching, and I feel as though I might explode if I don’t start banging my fist against my forehead. When my mother nods, I see sympathy in her eyes, which I appreciate. I lift for a few hours, until I no longer feel the need to punch myself. In the new reflector vest my mother has recently bought for me, I run through the night. I was going to open Tiffany’s letter this evening because I was so excited about having dinner with my father, but now I know I am most definitely not in a good mood, so opening the letter would be a violation of the rules Tiffany clearly laid out for me two nights ago. I almost opened the letter last night, when I was in an excellent mood, but it hadn’t been forty-eight hours. As I run, I try to think about Nikki and the end of apart time, which always makes me feel better. I pretend that God has made a bet with me and if I run fast enough, He will bring Nikki back, so I begin sprinting the last two miles of my run. Soon I’m running so fast, it’s amazing – faster than any human being has ever run before. In my mind I hear God tell me I have to do the last mile in under four minutes, which I know is almost impossible, but for Nikki I try. I run even faster, and when I am a block away, I hear God counting down from ten in my mind. â€Å"Five – four – three – two – † And when my right foot lands on the first concrete square of my parents’ sidewalk, God says â€Å"One,† which means I ran fast enough – that I made it home before God said â€Å"Zero.† I am so happy. I am so impossibly happy! My parents’ bedroom door is closed when I go upstairs, so I shower and then slip under my comforter. I pull Tiffany’s envelope from under the mattress of my bed. I take a deep breath. I open the letter. As I read the several typed pages, my mind explodes with conflicting emotions and awful needs. Pat, Read this letter start to finish! Do not make any decisions until you have read the entire letter! Do not read this letter unless you are alone! Do not show this letter to anyone! When you have finished reading this letter, burn it – immediately! Do you ever feel like you’re living in a powder keg and giving off sparks? Well, there was nothing I could do to bring my Tommy back, and the inability to accept his death kept me ill for two whole years – but then you came into my life. Why? At first I thought, God is sending me a new man, a replacement for my Tommy, which made me mad, because Tommy is irreplaceable (no offense). But when I listened to the way you talked about Nikki, I realized God had sent you to me so I might help you find the end of apart time. This was to be my mission. And so I have been working on it. â€Å"What?† I can hear you saying right now. â€Å"How can my friend Tiffany end apart time?† Well, this is the part that might make you mad. Are you ready, Pat? Brace yourself. I’ve been talking to your Nikki on the phone – regularly. Every night for the past two weeks. I got the phone number from Veronica, who – through Ronnie’s conversations with your mom – has been providing Nikki with information about you ever since you were permanently assigned to that neural health facility in Baltimore. It turns out that your family banned Nikki from obtaining information about you, which they could do because Nikki divorced you soon after you were permanently admitted. I know this bit of news has most likely upset you terribly. Sorry, but it’s best just to state things plainly at this point. Don’t you think? Okay, this next part is bad too. Nikki was able to divorce you because you committed a crime, which you do not remember. (I am not going to tell you what that crime was, because you have probably blocked it from your memory intentionally; most likely, you are not yet mentally ready to deal with this very frightening reality. My therapist Dr. Lily and I theorize that you will remember committing this crime when you are mentally and emotionally ready.) Nikki was granted a divorce and all your assets, and in exchange, someone else dropped all charges against you. Of course, the deal also sent you to the bad place indefinitely for â€Å"rehabilitation.† You agreed to all of the above at the time and were deemed to be â€Å"of sound mind† by your therapist Dr. Timbers, but soon after being put away for good, you â€Å"lost† your memory and your marbles as well. I am not telling you all of this to be mean – quite the contrary. Remember, God put me in charge of helping you end apart time. It turns out Nikki has wanted to communicate with you very much. She misses you. This is not to say she wants to marry you all over again. I want to be clear about this. She still remembers what you did – the crime you committed. And she is a little afraid of you as well, as she fears you might be mad at her and want to retaliate. But she was married to you for years and she wants to see you well, and maybe even become friends again. I have reported your desire to reconcile with Nikki. To be honest, your desire is much stronger than hers. But you never know what might happen if you begin to communicate again. Two problems: One. After you committed that crime, Nikki took out a restraining order against you, so technically it is illegal for you to contact her. Two. Your parents – on your behalf, and probably in retaliation – took out a restraining order against Nikki, claiming any contact she made could jeopardize your mental health. So it is also illegal for her to contact you. Even still, Nikki would like to communicate with you, if only to smooth over what happened. Her guilt is glaring. She walked away with all your assets, and you had to spend years in a mental institution, right? So. Coming to the point. I am offering myself as a liaison. The two of you can communicate through me, and there will be no trouble. You will be able to write Nikki letters – one every two weeks. I will read these letters to Nikki over the phone. She will be able to dictate her responses to me, again over the phone, which I will type up on my laptop, print out, and present to you. Pat, we are friends, and I value our friendship very much. That having been said, you must appreciate that what I am offering puts me in a very precarious position. If you decide to take me up on my offer, I would be putting myself at risk legally, and also I would be jeopardizing our friendship. I need to inform you that I will not be your liaison for free, but am offering you a trade. What do I want? Remember when I said I was scouting you? Well, I want to win this year’s Dance Away Depression competition, and I need a strong man to do it. â€Å"What is Dance Away Depression?† I hear you asking. Well – it is an annual competition organized by the Philadelphia Psychiatric Association that allows women diagnosed with clinical depression to transform their despair into movement. The sole focus is supposed to be diminishing depression through use of the body, but judges award a wreath of flowers to the second-best dance routine and a golden trophy to the first-place dance routine. Dancing solo, I have won that fucking wreath two years straight, and this year I want to win the golden trophy. This is where you figure in, Pat. God sent me the strongest man I have ever met in my entire life; tell me this isn’t divine intervention. Only a man with your muscles could perform the type of lifts I have in mind – award-winning lifts, Pat. The competition will be held at the Plaza Hotel in center cit y, on a Saturday night – November 11th. Which gives us just under a month to practice. I know the routine already, but you’ll be starting from scratch, and we both will have to practice the lifts. This will take a lot of time. I told Nikki about my conditions, and she wants to encourage you to be my dance partner. She says you need to broaden your interests, and that she had always wanted to take dance lessons with you. So it is more than okay with her; she encourages you to do this. Also, I’m afraid I will have to require a first-place victory in exchange for being your liaison. Lucky for you, the routine I have choreographed is first-rate. But in order to win, you will have to immerse yourself in dance. Below are the non-negotiable conditions. Should you decide to be my dance partner, you will: Give up Eagles football for the duration of our training. No going to games. No watching games on television. No discussing Eagles football with anyone. No reading the sports pages. You may not even wear your beloved Baskett jersey. End your weight training by two o’clock each afternoon, at which point we will go for a five-mile run, after which we will rehearse from 4:15 p.m. to 11:00 p.m. on weekdays. On weekends we will rehearse from 1:00 p.m. to 10:00 p.m. No exceptions. Make sure at least 15 of your friends and relatives attend the dance recital, because the judges are often swayed by applause. Do whatever I say without asking any questions. Assure I win the competition. MOST IMPORTANTLY: Tell no one about our arrangement. You can tell people you are training for a dance competition, but you cannot tell anyone about my demands and my contacting Nikki on your behalf – never ever. Should you meet all six demands, I will act as a liaison between Nikki and you; I will attempt to end apart time, and then who knows what will happen between you and your ex-wife. If you fail to meet my demands, I am afraid you might never talk to Nikki again. She says this is your only shot. Contact me within 24 hours with your decision. Reread my list of demands, memorize each, and then burn this letter. Remember, if you want me to be your liaison, tell no one I am in contact with Nikki. With best intentions, Tiffany I reread the letter over and over all night. Parts I do not want to believe are true – especially the parts about my committing a crime and Nikki divorcing me, which are ideas that make me feel like smashing my fist against my forehead. What type of crime would put me in such a situation, and who would drop charges when I checked myself into a neural health facility? I can understand Nikki’s divorcing me because I was a bad husband, especially because, well, I was a bad husband. But I have a hard time believing I actually committed a crime that could result in such drastic legal measures. And yet Tiffany’s letter seems to explain so much – my mother’s taking down my wedding pictures, all the awful things Jake and Dad said about Nikki. If I am really divorced, everything my family has done to keep Nikki out of my memory would have been for my protection, especially since they are not optimistic enough to realize that I am not dead and therefore still have at least a shot at getting Nikki back, which I don’t have to tell you is the silver lining to the letter. Of course, I cannot be sure about anything, since I have no memory of the past few years. Maybe Tiffany made up the story just to get me to perform in her dance competition. This is possible. I certainly would not have volunteered to be her partner, even if I am practicing being kind now. I realize that Tiffany’s letter might be a trick, but the possibility of communicating with Nikki is too good to chance – as it may be my last opportunity. Also, Tiffany’s mentioning God’s will seems to suggest that she understands what apart time is all about. It makes sense that Nikki would want me to take dancing lessons. She always wanted me to dance with her, but I never did. The thought of dancing with Nikki in the future is enough to make me accept that I will be missing the three Eagles games before the bye week, including the home game against Jacksonville. I think about how angry this will make my father, Jake, and maybe even Cliff, but then I think about the po ssibility of finally living out the happy ending to my movie – getting Nikki back – and the choice is obvious. When the sun comes up, I open the window in the downstairs bathroom, burn the letter over the toilet, and flush the charred remains. Next, I run across Knight’s Park, jog around the Websters’ house, and knock on Tiffany’s door. She answers in a red silk nightgown, squinting at me. â€Å"Well?† â€Å"When do we start training?† I ask. â€Å"Are you ready to commit fully? Ready to give up every-thing – even Eagles football?† I nod eagerly. â€Å"Only I can’t miss my therapy sessions on Fridays, because some judge will send me back to the bad place if I do, and then we won’t be able to win the competition.† â€Å"I’ll be outside your house tomorrow at two o’clock,† Tiffany says, and then shuts the door. The first floor of Tiffany’s in-law suite is a dance studio. All four walls are completely covered by full-length mirrors, and three have railings like you see ballerinas using. The floor is hardwood, like a pro-basketball court, only without any painted lines and with a lighter varnish. The ceiling is high, maybe thirty feet tall, and a spiral staircase in the corner leads to Tiffany’s apartment. â€Å"I had this built when Tommy died,† Tiffany says. â€Å"I used the insurance money. Do you like my studio?† I nod. â€Å"Good, because it’s going to be home for the next month. Did you bring your photograph?† I open the bag that Tiffany instructed me to bring and pull out my framed picture of Nikki; I show it to Tiffany, and then she walks over to the stereo system behind the spiral staircase. From an iron hook on the wall she removes a pair of headphones – the kind that cover your entire ears like earmuffs – and brings them to me. A very long cord is attached. â€Å"Sit,† she says. I drop to the floor and sit with my legs crossed. â€Å"I’m going to play our song, the one we are going to dance to. It’s important that you feel a deep connection with this song. It needs to move you if it’s going to flow through your body. I’ve picked this song for a reason. It’s perfect for both of us, which you’ll soon see. When I put the headphones on you, I want you to stare into Nikki’s eyes. I want you to feel the song. Understand?† â€Å"It’s not a song played by a soprano saxophonist, is it?† I ask, because Kenny G is my nemesis, as you know. â€Å"No,† she says, and then places the headphones on my ears. My ears are enveloped in the padding. Wearing the headphones makes me feel as if I am alone in this large room, even though if I look up, Tiffany will be there. With the frame in my hands, I stare into Nikki’s eyes, and soon the song begins to play. Piano notes – slow and sad. Two voices taking turns singing. Pain. I know the song. Tiffany was right. It is the perfect song for both of us. The song builds, the voices become more emotional, and everything inside of my chest starts to hurt. The words express exactly what I have felt since I was released from the bad place. And by the chorus, I am sobbing, because the woman singing seems to feel exactly what I am feeling, and her words, and her emotion, and her voice †¦ The song ends with the same sad piano notes that began the number. I look up and realize that Tiffany has been watching me cry, and I begin to feel embarrassed. I set my photo of Nikki down on the floor and cover my face with my hands. â€Å"I’m sorry. Just give me a second.† â€Å"It’s good that the song makes you cry, Pat. Now we just have to transform those tears into motion. You need to cry through your dancing? Understand?† I do not understand, but I nod anyway. How to cite The Silver Linings Playbook Chapter 28, Essay examples

Managerial Accounting for Advertisement Expenses and Commission

Question: Discuss about the Managerial Accounting for Advertisement Expenses and Commission. Answer: The provided case study states that the president of Kranbrack Corporation orders to reclassify period costs as product costs. Period costs are such costs that cannot be capitalized into inventory, fixed assets and prepaid expenses. The inclusion of these types of expenses can be seen in the selling and administration expenses of the companies that is a major force to reduce the organizational profits. They are selling expenses, advertisement expenses, commission, depreciation and others (Samak-Kulkarni Rajhans, 2013). On the other hand, products costs are such costs that are incurred for developing the products. This cost can be recorded as inventory asses in the balance sheet in case the products are not sold. Thus, the above discussion shows that the reclassification of the period costs into the product costs would decrease the selling and administrative expenses of the companies. At the same time, the assets would be increased. Overall, this reclassification process would increa se the reported earnings of the company (Drury, 2013). It is the responsibility of the management of the companies to record the expenses on their actual basis. Only then, the financial reports will show the actual financial position of the companies irrespective of good or bad. However, in the following case, it can be seen that the president of Kranbrackk Corporation passed the order to show the period costs as product costs with the help of reclassification process. Thus, this particular process does not show the actual revenue and profitability of the company. For this reason, this is not an ethical action. References DRURY, C. M. (2013). Management and cost accounting. Springer. Samak-Kulkarni, S. M., Rajhans, N. R. (2013). Determination of optimum inventory model for minimizing total inventory cost.Procedia Engineering,51, 803-809.