Events Leading Up to the The Sarbanes-Oxley Act Essay...

The Sarbanes-Oxley Act was enacted on July 30, 2002. It was enacted by the 107th United States Congress. It is named after sponsors U.S. Senator Paul Sarbanes and U.S. Representative Michael G. Oxley. It is also known as the ‘Public Company Accounting Reform and Investor Protection Act’ in the Senate and ‘Corporate and Auditing Accountability and Responsibility Act’ in the House. The main purpose of this act was to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes. This act was enacted as a result to a number of corporate and accounting scandals including those affecting Enron, Tyco internationals, Adelphia, Peregrine Systems, and WorldCom. The†¦show more content†¦After Enron’s scandal, section 1519 and 1520 are very important parts of the act. According to the section 1519, ‘‘Whoever knowingly alters, destroys, mutilates, conceals, c overs up, falsifies, or makes a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the investigation or proper administration of any matter within the jurisdiction of any department or agency of the United States or any case filed under title 11, or in relation to or contemplation of any such matter or case, shall be fined under this title, imprisoned not more than 20 years, or both.† Thus this came as a response of Enron’s bankruptcy and its attempt to destroy, falsify and cover up the documents. Enron officials Jeffrey Skilling, Kenneth Lay and Andrew Fastow faced trials and were later convicted of the crimes they committed. Top officials of Enron altered financial documents in order to hide the debt of the company. They misled the shareholders by showing huge profits in the annual financial reports. These high profits helped them to increase their share prices, which resulted in increases in income and investors. According to the reports, their format of financial statement shown to the public was so complicated that it was nearly impossible for anyone to figure out that all these numbers are altered. Before its downfall, Bethany McLean’s Fortune articleShow MoreRelatedSarbanes Oxley Outline676 Words   |  3 PagesThe Ineffectiveness of the Sarbanes Oxley Act In Corporate Management and Accounting In the early 1990s, a young company named Enron was quickly moving up Fortune magazine’s chart of â€Å"America’s Most Innovative Company.† As the corporate world began to herald Enron as the next global leader in business, a dark secret loomed on the horizon of this great energy company. Aggressive entrepreneurs eager to push the company’s stock price higher and a series of fraudulent accounting procedures involvingRead MoreSarbanes Oxley Act Of 2002 Essay1421 Words   |  6 PagesSarbanes Oxley Act Jason Stigal FIN/571 November 6, 2016 James Traylor Abstract Enron’s fraudulent financial practices lead to the Sarbanes Oxley Act of 2002. Mistakes made by the company and their leadership shocked the world and cost billions. Enron’s leadership could have taken steps to prevent or mitigate the repercussions of their actions. The act restored ethical and reliable financial practices to the market.The major provisions of the act made corporations responsibility forRead MoreThe Sarbanes Oxley Act ( Sox )1728 Words   |  7 Pagesscandals of all time. They perpetrated over *1 $3.8 billion in fraud, leading to a loss of 30,000 jobs and $180 billion losses for investors . 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There have not been, for example, any of the corporateRead MoreCase Study of NYSE1328 Words   |  5 Pagesmembers and directed by a board of corporate officers and directors. It is governed by regulations of the Securities and Exchange Commission (SEC). On March 2004, the organization came under attack since it was revealed that a series of questionable events surrounded the payment of former NYSE chairman Richard (Dick) Grasso. As many as 45 former directors and former employees were subpoenaed over possible violations of NYSE regulations or other regulations that dealt with accountability of an organizationRead MoreThe Sarbanes Oxley Act Of 20022394 Words   |  10 Pages Jamie Brown Sarbanes-Oxley BLA303 8/24/2014 Abstract The Sarbanes Oxley Act of 2002 was created to extinguish doubts on the financial system that were introduced during the financial collapse of Enron, a resource trading company that was brought to its need by corporate greed and corruption. Enron’s downfall could have been avoidable should there have been any transparency into the finances of the company for the shareholders. It was for this fact that the Sarbanes Oxley Act introduced manyRead MoreEnron Research Paper3111 Words   |  13 PagesCOLLAPSE OF ENRON amp; THE INTRODUCTION OF THE SARBANES OXLEY ACT BY TREVOR GARRETT 02/25/2011 Abstract Enron Corporation was one of the largest energy trading, natural gas and Utilities Company in the world that was based in Huston, Texas. The downfall of Enron is one of the most infamous and shocking events in the financial world, and its reverberations were felt around the globe. Prior to its collapse in 2001, Enron was one of the leading companies in the U.S and considered among topRead MoreEssay Financial Services Report1177 Words   |  5 Pagesglobal financial system (GFS) refers to those financial institutions and regulations that act on the international level, as opposed to those that act on a national or regional level (Global financial system, 2005, p1). The International Monetary Fund (IMF), the World Trade Organization (WTO) and the World Bank are considered to be the most important international institutions. The Internal Monetary Fund acts as a lender of last resort to governments in financial distress, e.g. balance of paymentsRead MoreUnethical Behaviors And Situations Of Conflict Within The Workplace1572 Words   |  7 Pagespsychologist in Denver, once said, â€Å"Just as character matters in people, it matters in organizations† (Forbes). As with any accounting scandal, all it takes to avoid them is a simple, basic knowledge of ethics in the workplace to avoid being caught up in the midst of something undesirable for all parties involved. Enron Corporation used to be one of America’s largest corporations that specialized in the trading and supplying of energy. Enron was best known for their expansion movement, when theyRead MoreThe Sarbanes Oxley ( Sox ) Act Of 20021617 Words   |  7 PagesThe focus of this week’s assignment is the Sarbanes-Oxley (SOX) Act of 2002. A brief historical summary of SOX will be presented, including the events leading up to its passage. The key ethical components of SOX will be identified and explained. The social responsibility implications of the mandatory publication of corporate ethics will be assessed. One of the main criticisms of SOX has been its implementation costs, and this specific criticism will be addressed in regards to smaller organizations

The Twilight Saga 4 Breaking Dawn 21. First Hunt Free Essays

â€Å"The window?† I asked, staring two stories down. I’d never really been afraid of heights per se, but being able to see all the details with such clarity made the prospect less appealing. The angles of the rocks below were sharper than I would have imagined them. We will write a custom essay sample on The Twilight Saga 4: Breaking Dawn 21. First Hunt or any similar topic only for you Order Now Edward smiled. â€Å"It’s the most convenient exit. If you’re frightened, I can carry you.† â€Å"We have all eternity, and you’re worried about the time it would take to walk to the back door?† He frowned slightly. â€Å"Renesmee and Jacob are downstairs___† â€Å"Oh.† Right. I was the monster now. I had to keep away from scents that might trigger my wild side. From the people that I loved in particular. Even the ones I didn’t really know yet. â€Å"Is Renesmee†¦ okay†¦ with Jacob there?† I whispered. I realized belatedly that it must havebeen Jacob’s heart I’d heard below. I listened hard again, but I could only hear the one steady pulse. â€Å"He doesn’t like her much.† Edward’s lips tightened in an odd way. â€Å"Trust me, she is perfectly safe. I know exactly what Jacob is thinking.† â€Å"Of course,† I murmured, and looked at the ground again. â€Å"Stalling?† he challenged. â€Å"A little. I don’t know how†¦.† And I was very conscious of my family behind me, watching silently. Mostly silently. Emmett had already chuckled under his breath once. One mistake, and he’d be rolling on the floor. Then the jokes about the world’s only clumsy vampire would start†¦. Also, this dress – that Alice must have put me in sometime when I was too lost in the burning to notice – was not what I would have picked out for either jumping or hunting. Tightly fitted ice-blue silk? What did she think I would need it for? Was there a cocktail party later? â€Å"Watch me,† Edward said. And then, very casually, he stepped out of the tall, open window and fell. I watched carefully, analyzing the angle at which he bent his knees to absorb the impact. The sound of his landing was very low – a muted thud that could have been a door softly closed, or a book gently laid on a table. It didn’t look hard. Clenching my teeth as I concentrated, I tried to copy his casual step into empty air. Ha! The ground seemed to move toward me so slowly that it was nothing at all to place my feet – what shoes had Alice put me in? Stilettos? She’d lost her mind – to place mysilly shoes exactly right so that landing was no different than stepping one foot forward on a flat surface. I absorbed the impact in the balls of my feet, not wanting to snap off the thin heels. My landing seemed just as quiet as his. I grinned at him. â€Å"Right. Easy.† He smiled back. â€Å"Bella?† â€Å"Yes?† â€Å"That was quite graceful – even for a vampire.† I considered that for a moment, and then I beamed. If he’d just been saying that, then Emmett would have laughed. No one found his remark humorous, so it must have been true. It was the first time anyone had ever applied the word graceful ‘to me in my entire life†¦ or, well, existence anyway. â€Å"T/?an/cyou,†i told him. And then I hooked the silver satin shoes off my feet one by one and lobbed them together back through the open window. A little too hard, maybe, but I heard someone catch them before they could damage the paneling. Alice grumbled, â€Å"Her fashion sense hasn’t improved as much as her balance.† Edward took my hand – I couldn’t stop marveling at the smoothness, the comfortable temperature of his skin – and darted through the backyard to the edge of the river. I went along with him effortlessly. Everything physical seemed very simple. â€Å"Are we swimming?† I asked him when we stopped beside the water. â€Å"And ruin your pretty dress? No. We’re jumping.† I pursed my lips, considering. The river was about fifty yards wide here. â€Å"You first,† I said. He touched my cheek, took two quick backward strides, and then ran back those two steps, launching himself from a flat stone firmly embedded in the riverbank. I studied the flash of movement as he arced over the water, finally turning a somersault just before he disappeared into the thick trees on the other side of the river. â€Å"Show-off,† I muttered, and heard his invisible laugh. I backed up five paces, just in case, and took a deep breath. Suddenly, I was anxious again. Not about falling or getting hurt – I was more worried about the forest getting hurt. It had come on slowly, but I could feel it now – the raw, massive strength thrilling in my limbs. I was suddenly sure that if I wanted to tunnel under the river, to claw or beat my way straight through the bedrock, it wouldn’t take me very long. The objects around me – the trees, the shrubs, the rocks†¦ the house – had all begun to look very fragile. Hoping very much that Esme was not particularly fond of any specific trees across the river, I began my first stride. And then stopped when the tight satin split six inches up my thigh. Alice! Well, Alice always seemed to treat clothes as if they were disposable and meant for one-time usage, so she shouldn’t mind this. I bent to carefully grasp the hem at the undamaged right seam between my fingers and, exerting the tiniest amount of pressure possible, I ripped the dress open to the top of my thigh. Then I fixed the other side to match. Much better. I could hear the muffled laughter in the house, and even the sound of someone gritting her teeth. The laughter came from upstairs and down, and I very easily recognized the much different, rough, throaty chuckle from the firstfloor. So Jacob was watching, too? I couldn’t imagine what he was thinking now, or what he was still doing here. I’d envisioned our reunion – if he could ever forgive me – taking place far in the future, when I was more stable, and time had healed the wounds I’d inflicted in his heart. I didn’t turn to look at him now, wary of my mood swings. It wouldn’t be good to let any emotion take too strong a hold on my frame of mind. Jasper’s fears had me on edge, too. I had to hunt before I dealt with anything else. I tried to forget everything else so I could concentrate. â€Å"Bella?† Edward called from the woods, his voice moving closer. â€Å"Do you want to watch again?† But I remembered everything perfectly, of course, and I didn’t want to give Emmett a reason to find more humor in my education. This was physical – it should be instinctive. So I took a deep breath and ran for the river. Unhindered by my skirt, it took only one long bound to reach the water’s edge. Just an eighty-fourth of a second, and yet it was plenty of time – my eyes and my mind moved so quickly that one step was enough. It was simple to position my right foot just so against the flat stone and exert the adequate pressure to send my body wheeling up into the air. I was paying more attention to aim than force, and I erred on the amount of power necessary – but at least I didn’t err on the side that would have gotten me wet. The fifty yard width was slightly too easy a distance___ It was a strange, giddy, electrifying thing, but a short thing. An entire second had yet to pass, and I was across. I was expecting the close-packed trees to be a problem, but they were surprisingly helpful. It was a simple matter to reach out with one sure hand as I fell back toward the earth again deep inside the forest and catch myself on a convenient branch; I swung lightly from the limb and landed on my toes, still fifteen feet from the ground on the wide bough of a Sitka spruce. It was fabulous. Over the sound of my peals of delighted laughter, I could hear Edward racing to find me. My jump had been twice as long as his. When he reached my tree, his eyes were wide. I leaped nimbly from the branch to his side, soundlessly landing again on the balls of my feet. â€Å"Was that good?† I wondered, my breathing accelerated with excitement. â€Å"Very good.† He smiled approvingly, but his casual tone didn’t match the surprised expression in his eyes. â€Å"Can we do it again?† â€Å"Focus, Bella – we’re on a hunting trip.† â€Å"Oh, right.† I nodded. â€Å"Hunting.† â€Å"Follow me†¦ if you can.† He grinned, his expression suddenly taunting, and broke into a run. He was faster than me. I couldn’t imagine how he moved his legs with such blinding speed, but it was beyond me. However, I was stronger, and every stride of mine matched the length of three of his. And so I flew with him through the living green web, by his side, not following at all. As I ran, I couldn’t help laughing quietly at the thrill of it; the laughter neither slowed me nor upset my focus. I could finally understand why Edward never hit the trees when he ran – a question that had always been a mystery to me. It was a peculiar sensation, the balance between the speed and the clarity. For, while I rocketed over, under, and through the thick jade maze at a rate that should have reduced everything around me to a streaky green blur, I could plainly see each tiny leaf on all the small branches of every insignificant shrub that I passed. The wind of my speed blew my hair and my torn dress out behind me, and, though I knew it shouldn’t, it felt warm against my skin. Just as the rough forest floor shouldn’t feel like velvet beneath my bare soles, and the limbs that whipped against my skin shouldn’t feel like caressing feathers. The forest was much more alive than I’d ever known – small creatures whose existence I’d never guessed at teemed in the leaves around me. They all grew silent after we passed, their breath quickening in fear. The animals had a much wiser reaction to our scent than humans seemed to. Certainly, it’d had the opposite effect on me. I kept waiting to feel winded, but my breath came effortlessly. I waited for the burn to begin in my muscles, but my strength only seemed to increase as I grew accustomed to my stride. My leaping bounds stretched longer, and soon he was trying to keep up with me. I laughed again, exultant, when I heard him falling behind. My naked feet touched the ground so infrequently now it felt more like flying than running. â€Å"Belial he called dryly, his voice even, lazy. I could hear nothing else; he had stopped. I briefly considered mutiny. But, with a sigh, I whirled and skipped lightly to his side, some hundred yards back. I looked at him expectantly. He was smiling, with one eyebrow raised. He was so beautiful that I could only stare. â€Å"Did you want to stay in the country?† he asked, amused. â€Å"Or were you planning to continue on to Canada this afternoon?† â€Å"This is fine,† I agreed, concentrating less on what he was saying and more on the mesmerizing way his lips moved when he spoke. It was hard not to become sidetracked with everything fresh in my strong new eyes. â€Å"What are we hunting?† â€Å"Elk. I thought something easy for your first time †¦Ã¢â‚¬  He trailed off when my eyes narrowed at the word easy. But I wasn’t going to argue; I was too thirsty. As soon as I’d started to think about the dry burn in my throat, it was all I could think about. Definitely getting worse. My mouth felt like four o’clock on a June afternoon in Death Valley. â€Å"Where?† I asked, scanning the trees impatiently. Now that I had given the thirst my attention, it seemed to taint every other thought in my head, leaking into the more pleasant thoughts of running and Edward’s lips and kissing and†¦ scorching thirst. I couldn’t get away from it. â€Å"Hold still for a minute,† he said, putting his hands lightly on my shoulders. The urgency of my thirst receded momentarily at his touch. â€Å"Now close your eyes,† he murmured. When I obeyed, he raised his hands to my face, stroking my cheekbones. I felt my breathing speed and waited briefly again for the blush that wouldn’t come. â€Å"Listen,† Edward instructed. â€Å"What do you hear?† Everything,I could have said; his perfect voice, his breath, his lips brushing together as he spoke, the whisper of birds preening their feathers in the treetops, their fluttering heartbeats, the maple leaves scraping together, the faint clicking of ants following each other in a long line up the bark of the nearest tree. But I knew he meant something specific, so I let my ears range outward, seeking something different than the small hum of life that surrounded me. There was an open space near us – the wind had a different sound across the exposed grass – and a small creek, with a rocky bed. And there, near the noise of the water, was the splash of lapping tongues, the loud thudding of heavy hearts, pumping thick streams of blood___ It felt like the sides of my throat had sucked closed. â€Å"By the creek, to the northeast?† I asked, my eyes still shut. â€Å"Yes.† His tone was approving. â€Å"Now†¦ wait for the breeze again and†¦ what do you smell?† Mostly him – his strange honey-lilac-and-sun perfume. But also the rich, earthy smell of rot and moss, the resin in the evergreens, the warm, almost nutty aroma of the small rodents cowering beneath the tree roots. And then, reaching out again, the clean smell of the water, which was surprisingly unappealing despite my thirst. I focused toward the water and found the scent that must have gone with the lapping noise and the pounding heart. Another warm smell, rich and tangy, stronger than the others. And yet nearly as unappealing as the brook. I wrinkled my nose. He chuckled. â€Å"I know – it takes some getting used to.† â€Å"Three?† I guessed. â€Å"Five. There are two more in the trees behind them.† â€Å"What do I do now?† His voice sounded like he was smiling. â€Å"What do you feel like doing?† I thought about that, my eyes still shut as I listened and breathed in the scent. Another bout of baking thirst intruded on my awareness, and suddenly the warm, tangy odor wasn’t quite so objectionable. At least it would be something hot and wet in my desiccated mouth. My eyes snapped open. â€Å"Don’t think about it,† he suggested as he lifted his hands off my face and took a step back. â€Å"Just follow your instincts.† I let myself drift with the scent, barely aware of my movement as I ghosted down the incline to the narrow meadow where the stream flowed. My body shifted forward automatically into a low crouch as I hesitated at the fern-fringed edge of the trees. I could see a big buck, two dozen antler points crowning his head, at the stream’s edge, and the shadow-spotted shapes of the four others heading eastward into forest at a leisurely pace. I centered myself around the scent of the male, the hot spot in his shaggy neck where the warmth pulsed strongest. Only thirty yards – two or three bounds – between us. i tensed myself for the first leap. But as my muscles bunched in preparation, the wind shifted, blowing stronger now, and from the south. I didn’t stop to think, hurtling out of the trees in a path perpendicular to my original plan, scaring the elk into the forest, racing after a new fragrance so attractive that there wasn’t a choice. It was compulsory. The scent ruled completely. I was single-minded as I traced it, aware only of the thirst and the smell that promised to quench it. The thirst got worse, so painful now that it confused all my other thoughts and began to remind me of the burn of venom in my veins. There was only one thing that had any chance of penetrating my focus now, an instinct more powerful, more basic than the need to quench the fire – it was the instinct to protect myself from danger. Self-preservation. I was suddenly alert to the fact that I was being followed. The pull of the irresistible scent warred with the impulse to turn and defend my hunt. A bubble of sound built in my chest, my lips pulled back of their own accord to expose my teeth in warning. My feet slowed, the need to protect my back struggling against the desire to quench my thirst. And then I could hear my pursuer gaining, and defense won. As I spun, the rising sound ripped its way up my throat and out. The feral snarl, coming from my own mouth, was so unexpected that it brought me up short. It unsettled me, and it cleared my head for a second – the thirst-driven haze receded, though the thirst burned on. The wind shifted, blowing the smell of wet earth and coming rain across my face, further freeing me from the other scent’s fiery grip – a scent so delicious it could only be human. Edward hesitated a few feet away, his arms raised as if to embrace me – or restrain me. His face was intent and cautious as I froze, horrified. I realized that I had been about to attack him. With a hard jerk, I straightened out of my defensive crouch. I held my breath as I refocused, fearing the power of the fragrance swirling up from the south. He could see reason return to my face, and he took a step toward me, lowering his arms. â€Å"I have to get away from here,† I spit through my teeth, using the breath I had. Shock crossed his face. â€Å"Can you leave?† I didn’t have time to ask him what he meant by that. I knew the ability to think clearly would last only as long as I could stop myself from thinking of – I burst into a run again, a flat-out sprint straight north, concentrating solely on the uncomfortable feeling of sensory deprivation that seemed to be my body’s only response to the lack of air. My one goal was to run far enough away that the scent behind me would be completely lost. Impossible to find, even if I changed my mind†¦ Once again, I was aware of being followed, but I was sane this time. I fought the instinct to breathe – to use the flavors in the air to be sure it was Edward. I didn’t have to fight long; though I was running faster than I ever had before, shooting like a comet through the straightest path I could find in the trees; Edward caught up with me after a short minute. A new thought occurred to me, and I stopped dead, my feet planted. I was sure it must be safe here, but I held my breath just in case. Edward blew past me, surprised by my sudden freeze. He wheeled around and was at my side in a second. He put his hands on my shoulders and stared into my eyes, shock still the dominant emotion on his face. â€Å"How did you do that?† he demanded. â€Å"You let me beat you before, didn’t you?† I demanded back, ignoring his question. And I’d thought I’d been doing sowell! When I opened my mouth, I could taste the air – it was unpolluted now, with no trace of the compelling perfume to torment my thirst. I took a cautious breath. He shrugged and shook his head, refusing to be deflected. â€Å"Bella, how did you do it?† â€Å"Run away? I held my breath.† â€Å"But how did you stop hunting?† â€Å"When you came up behind me†¦ I’m so sorry about that.† â€Å"Why are you apologizing to me? I’m the one who was horribly careless. I assumed no one would be so far from the trails, but I should have checked first. Such a stupid mistake! You have nothing to apologize for.† â€Å"But I growled at you!† I was still horrified that I was physically capable of such blasphemy. â€Å"Of course you did. That’s only natural. But I can’t understand how you ran away.† â€Å"What else could I do?† I asked. His attitude confused me – what did he want to have happened? â€Å"It might have been someone I know!† He startled me, suddenly bursting into a spasm of loud laughter, throwing his head back and letting the sound echo off the trees. â€Å"Why are you laughing at me?† He stopped at once, and I could see he was wary again. Keep it under control,I thought to myself. I had to watch my temper. Just like I was a young werewolf rather than a vampire. â€Å"I’m not laughing at you,Bella. I’m laughing because I am in shock. And I am in shock because I am completely amazed.† â€Å"Why?† â€Å"You shouldn’t be able to do any of this. You shouldn’t be so†¦ so rational. You shouldn’t be able to stand here discussing this with me calmly and coolly. And, much more than any of that, you should not have been able to break off mid-hunt with the scent of human blood in the air. Even mature vampires have difficulty with that – we’re always very careful of where we hunt so as not to put ourselves in the path of temptation. Bella, you’re behaving like you’re decades rather than days old.† â€Å"Oh.† But I’d known it was going to be hard. That was why I’d been so on guard. I’d been expecting it to be difficult. He put his hands on my face again, and his eyes were full of wonder. â€Å"What wouldn’t I give to be able to see into your mind for just this one moment.† Such powerful emotions. I’d been prepared for the thirst part, but not this. I’d been so sure it wouldn’t be the same when he touched me. Well, truthfully, it wasn’t the same. It was stronger. I reached up to trace the planes of his face; my fingers lingered on his lips. â€Å"I thought I wouldn’t feel this way for a long time?† My uncertainty made the words a question. â€Å"But I stillwant you.† He blinked in shock. â€Å"How can you even concentrate on that? Aren’t you unbearably thirsty?† Of course I was now, now that he’d brought it up again! I tried to swallow and then sighed, closing my eyes like I had before to help me concentrate. I let my senses range out around me, tensed this time in case of another onslaught of the delicious taboo scent. Edward dropped his hands, not even breathing while I listened farther and farther out into the web of green life, sifting through the scents and sounds for something not totally repellant to my thirst. There was a hint of something different, a faint trail to the east___ My eyes flashed open, but my focus was still on sharper senses as I turned and darted silently eastward. The ground sloped steeply upward almost at once, and I ran in a hunting crouch, close to the ground, taking to the trees when that was easier. I sensed rather than heard Edward with me, flowing quietly through the woods, letting me lead. The vegetation thinned as we climbed higher; the scent of pitch and resin grew more powerful, as did the trail I followed – it was a warm scent, sharper than the smell of the elk and more appealing. A few seconds more and I could hear the muted padding of immense feet, so much subtler than the crunch of hooves. The sound was up – in the branches rather than on the ground. Automatically I darted into the boughs as well, gaining the strategic higher position, halfway up a towering silver fir. The soft thud of paws continued stealthily beneath me now; the rich scent was very close. My eyes pinpointed the movement linked with the sound, and I saw the tawny hide of the great cat slinking along the wide branch of a spruce just down and to the left of my perch. He was big – easily four times my mass. His eyes were intent on the ground beneath; the cat hunted, too. I caught the smell of something smaller, bland next to the aroma of my prey, cowering in brush below the tree. The lion’s tail twitched spasmodically as he prepared to spring. With a light bound, I sailed through the air and landed on the lion’s branch. He felt the shiver of the wood and whirled, shrieking surprise and defiance. He clawed the space between us, his eyes bright with fury. Half-crazed with thirst, I ignored the exposed fangs and the hooked claws and launched myself at him, knocking us both to the forest floor. It wasn’t much of a fight. His raking claws could have been caressing fingers for all the impact they had on my skin. His teeth could find no purchase against my shoulder or my throat. His weight was nothing. My teeth unerringly sought his throat, and his instinctive resistance was pitifully feeble against my strength. My jaws locked easily over the precise point where the heat flow concentrated. It was effortless as biting into butter. My teeth were steel razors; they cut through the fur and fat and sinews like they weren’t there. The flavor was wrong, but the blood was hot and wet and it soothed the ragged, itching thirst as I drank in an eager rush. The cat’s struggles grew more and more feeble, and his screams choked off with a gurgle. The warmth of the blood radiated throughout my whole body, heating even my fingertips and toes. The lion was finished before I was. The thirst flared again when he ran dry, and I shoved his carcass off my body in disgust. How could I still be thirsty after all that? I wrenched myself erect in one quick move. Standing, I realized I was a bit of a mess. I wiped my face off on the back of my arm and tried to fix the dress. The claws that had been so ineffectual against my skin had had more success with the thin satin. â€Å"Hmm,† Edward said. I looked up to see him leaning casually against a tree trunk, watching me with a thoughtful look on his face. â€Å"I guess I could have done that better.† I was covered in dirt, my hair knotted, my dress bloodstained and hanging in tatters. Edward didn’t come home from hunting trips looking like this. â€Å"You did perfectly fine,† he assured me. â€Å"It’s just that†¦ it was much more difficult for me to watch than it should have been.† I raised my eyebrows, confused. â€Å"It goes against the grain,† he explained, â€Å"letting you wrestle with lions. I was having an anxiety attack the whole time.† â€Å"Silly.† â€Å"I know. Old habits die hard. I like the improvements to your dress, though.† If I could have blushed, I would have. I changed the subject. â€Å"Why am I still thirsty?† â€Å"Because you’re young.† I sighed. â€Å"And I don’t suppose there are any other mountain lions nearby.† â€Å"Plenty of deer, though.† I made a face. â€Å"They don’t smell as good.† â€Å"Herbivores. The meat-eaters smell more like humans,† he explained. â€Å"Not that much like humans,† I disagreed, trying not to remember. â€Å"We could go back,† he said solemnly, but there was a teasing light in his eye. â€Å"Whoever it was out there, if they were men, they probably wouldn’t even mind death if you were the one delivering it.† His gaze ran over my ravaged dress again. â€Å"In fact, they would think they were already dead and gone to heaven the moment they saw you.† I rolled my eyes and snorted. â€Å"Let’s go hunt some stinking herbivores.† We found a large herd of mule deer as we ran back toward home. He hunted with me this time, now that I’d gotten the hang of it. I brought down a large buck, making nearly as much of a mess as I had with the lion. He’d finished with two before I was done with the first, not a hair ruffled, not a spot on his white shirt. We chased the scattered and terrified herd, but instead of feeding again, this time I watched carefully to see how he was able to hunt so neatly. All the times that I had wished that Edward would not have to leave me behind when he hunted, I had secretly been just a little relieved. Because I was sure that seeing this would be frightening. Horrifying. That seeing him hunt would finally make him look like a vampire to me. Of course, it was much different from this perspective, as a vampire myself. But I doubted that even my human eyes would have missed the beauty here. It was a surprisingly sensual experience to observe Edward hunting. His smooth spring was like the sinuous strike of a snake; his hands were so sure, so strong, so completely inescapable; his full lips were perfect as they parted gracefully over his gleaming teeth. He was glorious. I felt a sudden jolt of both pride and desire. He was mine. Nothing could ever separate him from me now. I was too strong to be torn from his side. He was very quick. He turned to me and gazed curiously at my gloating expression. â€Å"No longer thirsty?† he asked. I shrugged. â€Å"You distracted me. You’re much better at it than I am.† â€Å"Centuries of practice.† He smiled. His eyes were a disconcertingly lovely shade of honey gold now. â€Å"Just one,† I corrected him. He laughed. â€Å"Are you done for today? Or did you want to continue?† â€Å"Done, I think.† I felt very full, sort of sloshy, even. I wasn’t sure how much more liquid would fit into my body. But the burn in my throat was only muted. Then again, I’d known that thirst was just an inescapable part of this life. And worth it. I felt in control. Perhaps my sense of security was false, but I did feel pretty good about not killing anyone today. If I could resist totally human strangers, wouldn’t I be able to handle the werewolf and a half-vampire child that I loved? â€Å"I want to see Renesmee,† I said. Now that my thirst was tamed (if nothing close to erased), my earlier worries were hard to forget. I wanted to reconcile the stranger who was my daughter with the creature I’d loved three days ago. It was so odd, so wrong not to have her inside me still. Abruptly, I felt empty and uneasy. He held out his hand to me. I took it, and his skin felt warmer than before. His cheek was faintly flushed, the shadows under his eyes all but vanished. I was unable to resist stroking his face again. And again. I sort of forgot that I was waiting for a response to my request as I stared into his shimmering gold eyes. It was almost as hard as it had been to turn away from the scent of human blood, but I somehow kept the need to be careful firmly in my head as I stretched up on my toes and wrapped my arms around him. Gently. He was not so hesitant in his movements; his arms locked around my waist and pulled me tight against his body. His lips crushed down on mine, but they felt soft. My lips no longer shaped themselves around his; they held their own. Like before, it was as if the touch of his skin, his lips, his hands, was sinking right through my smooth, hard skin and into my new bones. To the very core of my body. I hadn’t imagined that I could love him more than I had. My old mind hadn’t been capable of holding this much love. My old heart had not been strong enough to bear it. Maybe this was the part of me that I’d brought forward to be intensified in my new life. Like Carlisle’s compassion and Esme’s devotion. I would probably never be able to do anything interesting or special like Edward, Alice, and Jasper could do. Maybe I would just love Edward more than anyone in the history of the world had ever loved anyone else. I could live with that. I remembered parts of this – twisting my fingers in his hair, tracing the planes of his chest – but other parts were so new. He was new. It was an entirely different experience with Edward kissing me so fearlessly, so forcefully. I responded to his intensity, and then suddenly we were falling. â€Å"Oops,† I said, and he laughed underneath me. â€Å"I didn’t mean to tackle you like that. Are you okay?† He stroked my face. â€Å"Slightly better than okay† And then a perplexed expression crossed his face. â€Å"Renesmee?† he asked uncertainly, trying to ascertain what I wanted most in this moment. A very difficult question to answer, because I wanted so many things at the same time. I could tell that he wasn’t exactly averse to procrastinating our return trip, and it was hard to think about much besides his skin on mine – there really wasn’t that much left of the dress. But my memory of Renesmee, before and after her birth, was becoming more and more dreamlike to me. More unlikely. All my memories of her were human memories; an aura of artificiality clung to them. Nothing seemed real that I hadn’t seen with these eyes, touched with these hands. Every minute, the reality of that little stranger slipped further away. â€Å"Renesmee,† I agreed, rueful, and I whipped back up onto my feet, pulling him with me. How to cite The Twilight Saga 4: Breaking Dawn 21. First Hunt, Essay examples

Report Is Concerned With Microeconomics †Myassignmenthelp.Com

Question: Discuss About The Report Is Concerned With Microeconomics? Answer: Introduction This report is concerned with microeconomics and macroeconomics in relation to Australian economy and how the factors of these two affect the economy. Microeconomics includes the internal factors that affect organizations such as efficient utilization of resources, opportunity cost, decision-making, identifying the ways, which leads to effective production, grievance handling etc. On the other hand, macroeconomics means the external factors which are outside the organization and that affect the organization such as changes in demand, change in the prices, increases or decrease in net exports, inflation, changes in government policies etc. Microeconomics Concept of Opportunity Cost Every person has a choice. He or she invests in something by properly analysing the advantages and disadvantages of that particular product. Opportunity cost refers to the loss made to an individual by the rejected choice in order to gain advantage from the alternative choice. For example: If one chooses to stay in the class and study rather than going out for bunk with your friends, so in this case opportunity cost is not having fun with friends by bunking the class (Parkin and Bade, 2015). Countries are bound to make a choice between the production of a particular good or service and the production of another. For example: in case of Australian economy, government has planned to allocate resources towards defence. So, in this case, these resources cannot be utilized in the healthcare, education, childcare or public transports. So here for Australian economy, the opportunity cost is non-allocation of these resources to healthcare and education. Whenever there are situations, when we have to make choices between alternative types of production, then opportunity cost arises (Campbell and Brown, 2015). Efficient utilization of resources The growth of an economy depends upon how efficiently that economy is using its resources. If we are making excess use of imported goods, then it will result in hurdles in maintaining equilibrium in the countrys expenditure and its revenue. Australias imports are crude petroleum, refined petroleum, cars, packaged medicaments, meat etc. Its exported goods are gold, coal, wheat etc. Australia is importing goods from Japan, China, The United States and Thailand. If the companies in Australia are not making the use of limited resources properly, then it leads to increase in cost of production. So it will arise a challenge for the companies in Australia that how they will compensate this increased cost of production. Australia is considered as the biggest user of natural resources. Australian economy is consuming more resources per person as compared to Japan or United States. For example, Indias natural resources consumption is 5 tonnes per person and US and Japans resource consumption is about 28 tonnes still Australian economy is consuming more. Efficient and effective utilization of resources takes the economy towards sustainability. Market is the decision-maker In Australian economy, the decision marker is the market. Three economic decisions that depends upon the market are what to produce, how to produce and for whom to produce. In Australian economy, the production can be done according to the resources available in the market. Each product is produced not according to its demand but as per the resources available in the market. Then they will focus on how to produce. In how to produce, the market helps in deciding what type of technology and resources needs to be used in the production of goods. For whom to produce includes how the economy divides the goods and services among the people living in the society. This division depends upon the economic contribution of an individual in the market. The market system of Australian economy affects these three economic decisions in following way: Critical Analysis of the Three Blogs: The above blogs have discussed opportunity cost for the Australian economy, effective utilization of resources in context of Australian economy and how the market is the decision-maker in case of Australian economy. Australian economy showed a growth in the recent years by reducing the unemployment rates, low interest rates, changes in the tax rates to encourage growth. Australian economy is upgrading innovation in the productivity through RD policies (OECD, 2017). The suggestions for Australian economy are minimizing the utilization of natural resources, maintaining equilibrium in the market prices and it is only possible when raw material can be available to the producers easily. If a country wants to grow then its main objective is to make the best possible use of its available resources. It also lowers the impact of opportunity cost on an economy. An important part of Australian economy is that it is decision-maker is the market. But in case of scarcity of resources, it becomes a disadvantage, because the economy is focussing on aggregate demand and supply. If the resources are properly utilised, then it will avoid the problem of scarcity and the economy is able to produce any particular type of product according to consumers demand. It leads to equilibrium in demand and supply and hence it is feasible for the economy to choose the best alternative among all the choices without thinking about the opportunity cost (The guardian, 2017). Australian economy is required to minimize its natural resources consumption to remove the tag of biggest resource consumer. Efficient allocation can only be possible if government can interfere in the market operations by making policies for smooth running and by removing policies that creates hurdles in the operations of an economy. Australian government imposes tariffs on imported goods but be cause of this imposition the Australian firms that are profitable are not efficient as compared to international firms dealing with same product. Macroeconomics Monetary and fiscal policy Reserve bank is responsible for the monetary policy of Australia. The primary objective of monetary policy is to manage the money supply of an economy. Monetary policy tools with RBI are: First is Repo rate and reverse repo rate: Repo rate is the rate at which clients borrow money from RBI. Reverse repo rate is the rate at which RBI borrows money from commercial banks (Wang, Li, Gupta, Su and Liu, 2017). At present, these rates are 6.75% and 6.25% respectively. Second is Cash Reserve Ratio (CRR): CRR is a certain percentage of a banks total deposits that is compulsorily required to be deposited with RBI. Current CRR is 4%. Third is Statutory Liquidity Ratio (SLR): SLR refers to the percentage of banks deposits that they are compulsorily required to invest in government securities. Current SLR is 21.5% (Kent, 2017). Fourth is Bank rate: Bank rate is the rate charged by RBI on loans and advances to commercial banks. Current bank rate is 8.25%. Fifth is Open market operations: An open m arket operation refers to the buying and selling of government securities by RBI. Fiscal policy is the policy that is used to control inflation and government expenditure. The main objective of fiscal policy is to maintain equilibrium in balance of payments (BOP). Balance of payment is a record of countrys transactions with rest of the world. Fiscal policy aims at controlling inflation by attracting exports and reducing imports (Tan, 2016). There are two types of fiscal policy: Expansionary fiscal policy: Expansionary fiscal policy refers to the policy in which government is spending more than the revenue from taxes. Contractionary fiscal policy: This situation arises when government spending is less than the revenue from taxes (Bashar, Bhattacharya and Wohar, 2017). Inflation Inflation means increases in the prices of products year by year. Inflation can be measured in three ways: 1. Consumer Price Index (CPI): CPI compares the prices of commodities in the base year with current year. It measures retail market prices. 2. Producer price index (PPI): It measures the change in the selling price received by the producers for their outputs over a period of time. 3. GDP deflator: GDP deflator is the most commonly used technique to measure inflation. But RBI and Government do not prefer to use this because it evaluates data on quarterly basis (Cornish, 2017). Types of inflation as per Australian economy are: 1. Demandpull inflation: Demand-pull inflation arises when demand for goods increases than its supply. When supply of goods decreases in the market with increase in demand, it will automatically increase the prices of that particular product. 2. Cost-push inflation: It means when the cost of production of the company increases so the company will compensate this increased cost by increasing the prices of the product. 3. Wage-push inflation: It is a combination of demand-pull and cost-push inflation. If the wages of employees increases then it means the cost of employees to company increases and the company is going to balance it by increasing the prices (Argy and Nevile, 2016). Gross Domestic Product (GDP) Gross domestic product evaluates the performance of an economy. GDP takes into account the total value of all the goods and services produced within the country in a year. GDP can be measured by the formulae given below: GDP= C+I+G+(X-M) where, C- Personal consumption expenditure I- Business Investment G- Government spending X-M- Exports minus imports GDP compares the current performance of an economy with previous year. The growth of an economy can be assumed by its GDP rate. Increase in gross domestic product means reduced unemployment, increase in wages, equal demand and supply of goods. Lower GDP indicates recession in an economy. GDP in Australia is 2.9% in 2016. GDP composition by sector: Sector Percentage Agriculture 2.28% Industry 19.8% Services 77.7% Critical Analysis of the Three Blogs: It is analysed that Australias economic system is a mixed economic system. Above we have discussed about three major parts of macroeconomics i.e. monetary and fiscal policy, inflation and GDP. These are the three major things on which every economy needs to focus. It is analysed that fiscal policies objective is to ensure economic growth and it is possible through proper mobilization of financial resources. Fiscal policy helps in equality of income by levying higher taxes on rich people and lower tax on people having less income (FOCUSECONOMICS, 2017). The government mobilises financial resources by the way of direct and indirect taxes. Government is also offering concession in excise duty on the goods produced within the country to attract foreign investors to invest domestically. Fiscal policy is directly related to the economic growth of a country. If we talk about GDP then GDP has a great effect on stock prices. For example: If gross domestic product is less as compared to previous year then it means that the companies are earning less which lowers the stock prices. Now-a-days investors are investing by properly examining the GDP of a country. In case of inflation, it is analysed that inflation reduces the purchasing power of consumers. If the prices of goods increase then it will reduce the money value of consumers. Increase in VAT or service tax also leads to inflation. Australian economy is an economy that has navigated over 25 years without recession. These three factors as discussed in the report are inter-related to each other (Behlul et al., 2017). If inflation occurs in an economy then it will create disequilibrium in the economy so it will result in financial crises in the economy and financial crises lowers GDP of an economy. Australian economy is growing year by year and it can be seen by the way of its net savings plus other changes in the real net wealth per capita which is growing year by year. Australias per capita GDP is higher than Canada, UK, Germany and France. References Argy, V.E. and Nevile, J. (2016) Inflation and Unemployment: Theory, Experience and Policy Making. UK: Routledge. Bashar, O.H., Bhattacharya, P.S. and Wohar, M.E. (2017) The cyclicality of fiscal policy: New evidence from unobserved components approach. Journal of Macroeconomics. 53, pp. 222-234. Behlul, T., Panagiotelis, A., Athanasopoulos, G., Hyndman, R.J. and Vahid, F. (2017) The Australian Macro Database: An online resource for macroeconomic research in Australia. Campbell, F. and Brown, P.C. (2015) Cost-Benefit Analysis: Financial And Economic Appraisal Using Spreadsheets. UK: Routledge. Cornish, S. (2017) Inflation and the Making of Australian Macroeconomic Policy, 194585, by Michael Beggs (Palgrave Macmillan, Basingstoke, 2015), pp. xii+ 325. Economic Record, 93(300), pp. 174-176. FOCUSECONOMICS (2017) Australia Economic Outlook.[Online]. Available at: https://www.focus-economics.com/countries/australia (Assessed: 29th August 2017). Kent, C. (2017) Uncertainty and Monetary Policy Australian Economic Review, 50(1), pp. 85-88. OECD (2017) Economic Survey of Australia 2017.[Online]. Available at: https://www.oecd.org/australia/economic-survey-australia.htm (Assessed: 29th August 2017). Parkin, Michael and Bade, Robin. (2015) Microeconomics: Australia in the Global Economy. Australia: Pearson Education. Tan, Kim. (2016) Fiscal Policy in Dynamic Economies. UK: Routledge. The guardian (2017) Australian economy.[Online]. Available at: https://www.theguardian.com/business/australia-economy (Assessed: 29th August 2017). Wang, L., Li, B., Gupta, R., Su, J.J. and Liu, B. (2017) Return Predictability in Australian Managed Funds. International Journal of Business and Economics, 16(1), pp.