Melancholic Hamlet Essay -- Essays on Shakespeare Hamlet

Melancholic Hamlet  Ã‚   Hamlet is a melancholic young man who does not value human life; however, he will do anything it takes to accomplish his main goal: revenge on Claudius for the death of his father. In his seven soliloquies we learn that Hamlet has become melancholic, violent, and suicidal. There are several incidences where these emotions are expressed. His melancholic attitude is very apparent in the second scene of Act I, when he suggests that his mother, in mourning his fathers death, is simply acting the part of a grief stricken widow, while he is a truly heart broken son. Another example from his first soliloquy of his melancholic state occurs when he discovers the rapid marriage of his mother and his uncle, where he finds himself both sad and mad at the fact that his mother could move on so quickly. Hamlet’s violent attitude can be blamed on the fact that his father was murdered and he wants revenge. An example of his violent attitude is in his sixth soliloquy where he sees the king pray ing in the church. Hamlet feels as though he should just kill him in that same instance, but then decides not to. Another instance of his violent behavior is when he sends Rosencrantz and Guildenstern to their deaths and feels no remorse in doing so. Hamlet’s suicidal state can be accounted for because he is a confused young man. Throughout the play his father had been murdered, his mother almost instantly re-married, he himself had gone mad, and thus he is confused because he has so many negative feelings towards himself and the easiest way out is suicide. Another example occurs in his forth soliloquy when he reasons whether suicide would be the better and quicker solution. All of Hamlet’s emotions cause him to have a clo... ... not commit suicide because he realizes that it would be best to accomplish his goal and kill the king so he could avenge his fathers death. Hamlet is a melancholic, violent, and suicidal character, as a result of the events that have occurred in his life. Such events as the murder of his father, the quick marriage of his mother, and the ghost’s insistence on revenge caused Hamlet to have these emotions. The murder of his father caused Hamlet’s melancholic and violent state. The quick marriage caused more violence and confusion in his life. The ghost’s insistence on revenge caused more violent behavior. As a result of all the events that occurred Hamlet became extremely suicidal because he was confused with how he should solve his problem. Everyday people are faced with similar situations and it helps us to relate to the same pain that Hamlet felt.      

Electronic Health Record Essay

In the proposed scenario, a Clinical Nurse Specialist (CNS) with a Post-Masters Nursing Informatics Certificate has decided that the 100 bed hospital that she works in would benefit from transitioning from paper charting to using an electronic health record (EHR) system. She has done initial clinical research and has a solid foundation of best-patient-practice reasons that support this change. She has also researched and studied the information on the government’s websites HealthIT.gov, and CMS.gov pertaining to the American Recovery and Reinvestment Act and the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009. HITECH is a stimulus package approved by the US government allowing $19 billion dollars to be divided between hospitals and doctors â€Å" who demonstrate â€Å"meaningful use† of electronic medical records†(ARRA HITECH Solutions, 2015). She knows that the best way to select and institute an EHR is to assemble a team of m embers with various specialties pertaining to the goals outlined in the stages of HITECH. Stage 1- Data capture and sharing, Stage 2- Advance clinical processes and Stage 3- Improved outcomes. Each of these stages has it’s own meaningful use criteria. As seen in the diagram to the  left. The CNS begins by choosing the members of her team from various disciplines in the hospital. Because this will mean corporate wide changes and adoption. Her list includes the following, from the IT department, a Clinical Nursing Informatacist- chosen for a specialty in how nurses interact with software and what is required for nurses to effectively care for patients, and the Director of Clinical Informatics- chosen for an overall knowledge base of the hospitals informatics resources and requirements including what software and hardware is currently available, what has worked or failed in the past and what changes will need to happen to keep the hospital compliant with patient privacy and safety regulations. She will also need a Corporate Project Manager to organize and disseminate information to the various off-site entities related to the facilities that will need to be on board with this change across the corporation. A Chief Medical Information Officer will be key in providing the perspective of the physicians and their particular needs and goals, and to be a liaison for the staff physicians when the EHR rollout occurs. A Chief Information Officer will bring knowledge about the hospital’s day to day functions that will need to integrate into the new EHR along with how those systems currently function. A Chief Nursing Information Officer will have their finger on the pulse of each nursing unit and be aware of the different user interface requirements that will be needed by different departments for the the specific type of flow and care given. Lastly, a Chief Financial Officer will be able to guide the team on topics concerning governmental funding and current assets along with helping to create and maintain a budget as required with the acquisition of new software and hardware, he will also be able to work with each department’s budget makers when the time comes for allocating training hours and equipment purchases. Along the way the team will need to bring in sub-specialists to give information and feedback as they hone the new system, but for now the assembled team will be responsible for researching, choosing and implementing the best EHR for their hospital. A.2 a-e) Choose 2 real-life computerized management systems and analyze them by comparing their advantages and disadvantages, recommend the best choice to meet the ‘MU’ requirements, describe how the features of the recommended system meet the guidelines outlined in the three stages of meaningful use, describe the impact on quality of patient care, documentation and outcomes. The team is aware that currently they have a computerized system that they use for reporting and tracking labs, radiology and scheduling, but all documentation is paper based. They consider the price point involved with adding modules to the existing McKesson software vs purchasing and implementing an entirely new EHR called EPIC. EPIC appears to be user friendly and able to seamlessly connect all of the facilities under the umbrella of their corporation. They make a list of some of the pros and cons associated with each system. McKesson has the upside of being a system they have already worked with and it has different programs that can be pieced together to meet some of the meaningful use (MU) criteria for compliance. They already have a working relationship with this vendor and some experience with the product. Once the discussion gets going, the team realizes that there are many more bad points than good with McKesson. In their experience, the software modules are connected in a piecemeal fashion that makes it difficult for programs to interface. Quite frequently data is just lost and not retrievable. There are different data entry systems for the different types of departments i.e. OR, ER, labor &  delivery, Med/Surge, radiology, and pharmacy. The different systems do not allow for across the board data harvesting and that makes it difficult and time consuming to track reportable nursing and CMS indicators. The aesthetics of McKesson are something that is frequently complained about by the staff, due to lack of distinctive color transition and eye fatigue. Lastly, the group is very reluctant to continue on building their EHR base with McKesson because the PCPs in the area will not be able to access hospital records, and office visit information will not be available to the hospital based staff. Due to the need for increased man hours in servicing McKesson, lack of discrete data sampling, and the poor continuity of care related to PCPs not having access to hospital data and vice versa, the team decides to choose Epic instead. Epic has the down side of being a system that will require a large initial outlay of funds. The hospital will have to purchase software, and related hardware. They will have to expand the IT and biomedical engineering departments to support and maintain the new system and equipment (something that would have been necessary to a smaller degree with McKesson). They will have to address some retrofitting needs related to wiring and computer instillation and lastly training will be a very big issue. Despite the potential down sides, the team comes up with a long list of reasons that EPIC is the right system to choose. To begin with EPIC is all one system. It allows for seamless interdepartmental interfacing. The PCPs in the area already use a version of EPIC and this will allow for easy data exchange and a patient’s information will follow them easily. The EPIC system has a medication reconciliation form that is easily viewable to all care givers and pharmacies in the area, keeping track of each patients reported medication dose and frequency. EPIC has a ‘my chart’ feature that allows patients see labs, after visit summaries , and to interact with physicians about scheduling, medications and lab results. EPIC has  many built in safe guards, including password protection, continuous backup and recovery programs so no dat a is lost, and the vendor provides continuing support as needed. EPIC comes in 3 pre-bundled, customizable templates, each already set up to meet the Meaningful Use (MU) criteria without having to alter the program. The team can look at the three available options and determine if one fits them perfectly, or find the closest one and alter it to fit their specific needs. Some examples of how EPIC will meet the Stage 1 MU criteria are computerized physician order entry, checking for drug interactions and allergies automatically, tracking demographics, keeping current diagnosis, medication and allergy lists, allowing patients to have electronic access to discharge summaries, and it gives patients electronic access to physicians. Once the hospital has used EPIC for at least two years, some examples of how EPIC will help meet the Stage 2 MU criteria are ongoing patient data entry and discreet sampling for report generation. The team will continue to develop the software that demonstrates interoperability in sharing of lab results with other providers and systems. Security risk assessment will be ongoing and built into the system. Smoking status will be tracked on all patients 13 and older and the EPIC software is designed to guide the facility from meeting the Stage 1 criteria to meeting the Stage 2 criteria. Stage 3 MU objectives are projected to improve outcomes. The team is waiting on the final ruling for what the Stage 3 guidelines will be and in the mean time they have a projected goal of focusing on primary prevention measures and improving overall population health. This will include recommended vaccination reminders, smoking cessation assistance, healthy lifestyle and meal planning recommendations, and yearly checkup reminders generated by primary physicians that will crossover to hospital patient charts. Some of the better benefits of EPIC include point and click tabs in the assessment fields, this allows for discrete sampling of information. EPIC utilizes a reporting workbench that will harvest requested, reportable data  and assemble it into a user friendly template. This will benefit the hospita l by reducing former man-hours required to find and collect data for clinical quality measures, public health reporting, and CMS indicators. Discrete data sampling from EPIC will make the hospital a benefit to the community as well by allowing it to track trends and provide information to community health nurses. EPIC comes with the ability to establish hard stops and reminders that allow real-time users to be aware of needs for care coordination and patient specific follow-ups or recommended testing related to treating chronic conditions. It will also allow for symptom driven order entry fields to be immediately available in emergent situations where time taken to look for those things could mean a worse outcome. This is especially important when people present with symptoms of stroke or heart attack. Another EPIC benefit is the different levels of bedside specific PHI protection related to sensitive care. EPIC has a ‘break the glass’ functionality pertaining to all sexual assault and psychiatric admits. This function only allows relevant staff to open and view these patients charts, any others are shown a pop-up warning and a notice is sent to start an investigation of any other person who logs in to theses charts. The team is impressed with the information provided by EPIC concerning scanning patients and medications at the bedside and the reduction in medication errors this causes. The scanners will integrate with the medication dispensing machines already in use at the hospital. One of the major benefits of EPIC is the order entry build. Each physician, with a minimal amount of training, can customize the order entry process to reflect their needs. Medication orders are instantly linked to a pharmacist to double check for allergies, and correct dosing information, and then the medication becomes available, via PYXIS machines on the unit for the RN to administer at the bedside. The bedside dosing requires the patient and medication to be scanned, further eliminating potential erro rs, and provides a pop-up warning if an emergency override is required during any of these steps. While the team acknowledges that training and time to become familiar with the new charting and bedside routine changes will initially impact patient care in a negative way, they have a plan in mind to keep the patients educated on the new system changes and the anticipated better care available to the patients across the board from instituting an EHR system. Having the patients ask questions and give real time feedback will help the team tweek their training and bedside routines to give better, more organized care that results in trackable outcomes. This is just an overview of some of the many functions EPIC has that persuaded the team to choose it as the new EHR system for the hospital. (EPIC and McKesson related information was culled from the authors own experience with the systems and personal interviews with multiple members of the informatics department at St Francis Hospital, Indianapolis campus). A.3 a) Use of Quality Improvement Data EPIC has point and click assessment tabs and a standardized documentation format that links related data. This allows for discrete data sampling related to things like CMS indicators. The hospital will be able to track compliance with things like ‘door to EKG’ times in the emergency department, Foley catheter use and resultant CAUTIs, and the time from when a patient presents with stroke symptoms until a cat scan is done and/or whether the patient receives antithrombolytics as a result. The hospital will also be able to generate reports on errors that occur the via the Risk Monitor Pro incident tracking software. This will allow them to continue researching and improving processes. A. 3 b) Security Standards and Methods EPIC has 24 hour monitoring of staff use while logged in, and the records they access. This is important because hundreds of staff members will be using the system and there has to be accountability if employees were to look up their own records, or the records of friends or family. This  information can be tracked and the employee interviewed and disciplined if needed. EPIC also comes equipped with incident reporting software called Risk Monitor Pro. All staff members are encouraged to use this format to report any incident that might warrant further investigation. It covers every location, type of employee, type of equipment, patient, visitor or vendor. Risk Monitor Pro forms are used to report potential or perceived injuries, faulty equipment, sentinel events and things that have the potential to cause harm or damage. This information can be followed up on by the risk management team, so that process improvement is an ongoing process. The team works with members from the IT department and plans for primary data storage with a redundant back up storage unit that simultaneously updates so if the primary server fails there is no loss of information. They have also planned for a second, off site data storage center that can be used in case of emergency to ensure continuity of services, and keep things up and running while the primary system is off line for upgrades. Lastly back up tapes will be kept at a third site in case both of these areas are compromised, and the system can be rebooted and running again within 72 hours. A. 3 c) Explain how the system will protect patient privacy and meet HIPAA requirements EPIC will protect patient privacy in a number of ways. End User access is limited to only being able to access the information needed to do their jobs. Making the accessible information different for nurses, physicians, registration clerks, radiology technicians, committee members etc. Personnel will only be granted access once they have completed security training and have signed documentation stating that they understand the legal risks and responsibilities when accessing protected health information (PHI). Individuals outside the hospital will have access to EPIC as well, for example nursing home physicians. They will have a read only access granted, but will require multiple patient identifiers to access the information. Also, as mentioned earlier, EPIC will employ security related  chart hard stops like ‘Break the Glass’. A. 3 d) Explain how the recommended system meets HIPAA requirements EPIC helps to meet HIPAA requirements with automated enforcing of access policies, and pro-active alerting that links directly to the risk management department, requiring strong password policies, and automatic logout at end user work stations. EPIC allows providers to protect the integrity of data and recover original data in the case of it being altered or damaged. EPIC users are required to have appropriate training to be able to access the system, and can be locked out in the case of termination. Portable devices carry encryption software that does not allow for third party data extraction or access. EPIC can also quickly generate reports with discrete sampling related to various forms of access. The majority of compliance will be the responsibility of the staff with written policies, documented sanction programs and investigation that is on-going, consistent and documented. A. 3 e) Describe how adopting the system will reduce costs to the organization Instituting this new system will initially generate more costs, but in the long run will save the hospital money in many ways. Meeting the ARRA/HITECH Act requirements will help to offset those cost with financial incentives and avoiding fines and penalties. Having readily available test results will decrease the costs and labor associated with repeating lost or illegible results. With superior organization and data summary tools, the cost for labor associated with studying charts individually and generating reports will be exponentially lower. The need for transcriptionists will be greatly reduced by utilizing dictation software. Facilities for storage of paper charting cost money for upkeep and staffing. An electronic database should make billing and insurance claims easier to process and thereby generate revenue faster. The time it takes for physicians to spend going over complicated medical histories with patients is greatly reduced by  having that information readily available in a database. â€Å"According to a recent study, when hospitals rely on advanced electronic health records they can save up to 10 percent per patient admission† (â€Å"Advanced EHR Cuts Hospital Costs By 10% Per Admission,† 2014). 4. A) Explain why active nursing involvement in the planning, selection, and implementation of the systems is important to the success of the implementation process and meeting meaningful use requirements Active nursing involvement is important to the success of implementing any process that affects care given at the bedside. For the system to be optimized for use, nursing suggestions and feedback are critical. EPIC knows this and has a team of nurses on staff to work with the facility  in developing end-user interface. ‘Nurses’ from the hospital include the advocates, CNS’s, NP’s, LPN’s, managers, and bedside care givers, each with a specific focus and experiences that are valuable when helping to decide how charting should work. Any thing that pulls a nurses attention away from the patient, or is distracting or difficult to work with decreases the perceived level of care and increases the potential for errors. The health care goals of meaningful use include improving efficiency, safety and quality while decreasing discrepancies, involving patients and their families in their care, improving public health outcomes, improving care coordination, and advancing security and privacy of PHI (Gregory & Klepfer, 2010). All of these things are the foundation of every interaction a nurse has with a patient. This is why nursing is one of the most trusted professions, according to the Gallup pole website, nurses come out on top at 80% when people were asked to rate â€Å"the honesty and ethical standards of people† in different given fields (â€Å"Honesty/Ethics in Professions | Gallup Historical Trends,† n.d.). Because standard nursing care already meets the goals outlined for meaningful use, the most important thing the average  nurse can do is to work hard to be competent utilizing the selected EHR software. Advanced users and nurse leaders are important to help guide the EHR selection process in the direction that will improve the bedside interactions and user interface. Clinical nurse specialists have advanced educations and bring the nursing philosophy to the selection and implementation process. All of these roles are vital to the success of any EHR implementation.

The Theme of Darkness in Night by Elie Wiesel - 1514 Words

Often, the theme of a novel extends into a deeper significance than what is first apparent on the surface. In the novel Night by Elie Wiesel, the theme of night and darkness is prevalent throughout the story and is used as a primary tool to convey symbolism, foreshadowing, and the hopeless defeat felt by prisoners of Holocaust concentration camps. Religion, the various occurring crucial nights, and the many instances of foreshadowing and symbolism clearly demonstrate how the reoccurring theme of night permeates throughout the novel. Faith in a higher power is often used as a crutch by many in times of struggle. However, when that crutch is removed, the hardships that need to be overcome seem to increase as hope diminishes. This is true†¦show more content†¦Never (Wiesel 32). This quote unites the emotional, mental, psychological, and spiritual damaged suffered by Eliezer from his experiences with inhumanity of the Nazis. Lastly, the march from Buna to Buchenwald occurs at night; this is significant because it indicates the fate awaiting the prisoners (Fine 54). The many important nights that take place throughout the novel are clear indicators of the significance that the theme of darkness and night possesses all through the story. As well as being a large component in expressing the profundity of the motif of night, the critical nights serve to bring about internal changes within the protagonist, Eliezer. He changes not only outwardly during his suffering, but changes as a person on the inside. This change can be summarized by the quote, The night was gone. The morning star was shining in the sky. I too had become a completely different person. The student of Talmud, the child that I was, had been consumed in flames. There remained only a shape that looked like me. A dark flame had entered my soul and devoured it (Wiesel 34). In this line, Eliezer discusses how his Holocaust experiences have changed him by stealing his innocence, robbing him of his childhood and destroying his soul. In the course of all these transformations, Eliezer seems to lose track of time itself. His quote, So much had happened within such a few hours that I had lost all sense of time.Show MoreRelatedNight, By Elie Wiesel1083 Words   |   5 Pagesthe 1960 novel, Night, Elie Wiesel utilizes several literary devices, including the symbology of nighttime, motif of religious practices, and theme of father-son relationships, in order to emphasize the atrocities of the Holocaust specifically for Jews. Wiesel’s first hand experience in concentration camps allows for a vivid retelling of what many people had to endure. The symbolic portrayal of the nighttime helps to add a deeper meaning to the text. The title of the novel, Night, brings the symbolRead MoreThe Holocaust: Night by Elie Wiesel1635 Words   |  7 PagesJews were persecuted, tortured and slaughtered in concentration camps (â€Å"The Holocaust† 1). Night by Elie Wiesel is the powerful memoir of his experiences during the Holocaust. Night shows the tragedy of the Holocaust through the use literary devices, including the themes of loss of faith and cruelty toward other human beings, night as a symbol of suffering and fear, and the use of first person narrative. Night allows the reader to emotionally connect with the victims of the Holocaust, encourages themRead MoreElie Wiesel s The Holocaust1315 Words   |  6 Pagesappeared to be a time of darkness and it seemed like on Earth and in heaven, each doorway of humanity, empathy, and kindness had been closed down. Those who did not encounter the Holocaust cannot begin to comprehe nd what it was like, however, those who did cannot begin to express it. Torture, genocide, and cruel acts started to fill brains and souls. The Holocaust was an event where millions of people were being murdered during World War II. The memoir, Night by Elie Wiesel is based on Wiesel’s experiencesRead MoreNight: Heart-Wrenching and Traumatic Themes1189 Words   |  5 Pagesnovel, Night, by Elie Wiesel, contains heart-wrenching as well as traumatic themes. The novel unfolds through the eyes of a Jewish boy named Eliezer, who incurs the true satanic nature of the Nazis. As the Nazis continue to commit inhumane acts of discrimination, three powerful themes arise: religion, night, and memory. As the novel begins to unfold, Anti-Semitism does as well. As Wiesel demonstrates in the novel, â€Å"Three days later, a new decree: Every Jew had to wear the yellow star.† (Wiesel, 11)Read More`` Night `` By Elie Wiesel1341 Words   |  6 Pagesmemoir â€Å"Night,† written by Elie Wiesel describes the brutality Wiesel experienced during the Holocaust, and how life changing it was. Although some may believe the memoir written by Elie Wiesel was titled â€Å"Night† because he was forced to leave his home during the night, Wiesel illustrates Jews losing hope, faith, and happiness through the symbol of Night, to prove that the memoir was titled â€Å"Night† to symbolize the darkness the holocaust created. The first darkness that the word â€Å"Night,† symbolizedRead MoreAnalysis Of The Book The Great Gatsby By F. Scott Fitzgerald947 Words   |  4 PagesWiesel wrote in a lot of detail about the events that were unfolding right in front of him. He could never forget the violence because it was stuck in his mind. Dehumanization was a huge role throughout the book in the conditions of how his story played out. The people of Sighet were moved to Auschwitz in cattle cars. Food and water was not available and the bathroom was a bucket in the middle of the room. Followed by the arrival at Auschwitz, Wiesel other men were forced to strip naked. ThenRead MoreExamples Of Dehumanization In The Book Night1183 Words   |  5 Pagesbook, Night, by Holocaust survivor Elie Wiesel, provides an overview of Elie’s experiences during the Holocaust, and there were a multitude of ways that Elie and his inmates were dehumanized. It all started in 1944, when Elie and his family were deported from their home in Sighet and taken to the Auschwitz concentration camp. When they arrived, they had to leave their possessions on the train and went into the concentration camp where all of his family except his father were murdered. Elie and hisRead MoreNight, By Elie Wiesel842 Words   |  4 Pagesmajor themes of Night and the imagery that the author, Elie Wiesel, uses to create them. The themes we will discuss are identity, silence, and night. !!!About the Book If you were an observant Jew who believed in a loving God, then you and your family were captured by a group of ill-intentioned people, causing the death of your family, what would you think about whether God and humans are good or not? That is the main concern of Eliezer, the main character in Night. Night wasRead MoreNight And Dawn : The Revolutionizing Story Of Tragedy1663 Words   |  7 PagesNight and Dawn: The Revolutionizing Story of Tragedy Throughout the course of history, time has been kind to some, and evil to others. To Elie Wiesel, time has been a ruthless machine that only caused hardship and sorrow. Elie Wiesel had to encounter arguably the most tragic event in history, the Holocaust, which took the life of his mother, father, and siblings, in addition to 6 million other Jews. Essentially, the Holocaust stemmed from Adolf Hitler gaining power of Germany in World War II, whichRead MoreAn Analysis Of Elie Wiesel s The Jewish Scriptures 1219 Words   |  5 Pages1930’s Sighet, Elie Wiesel is expected to do as he is told and continue to further his studies in the Jewish scriptures. Young Elie becomes intrigued by the vast amount of knowledge he has absorbed over his youthful fifteen years, and determined to verse himself in Kabballah, a more intense and deeper branch of the holy texts. Going against his father’s word, he dives into the water, swimming into depths uncharted by all Sighet boys his age. One day, in his search for intellect, Wiesel met a man, worn

The payment system of India and the relevant legislation - Free Essay Example

Sample details Pages: 7 Words: 2007 Downloads: 9 Date added: 2017/06/26 Category Law Essay Topics: India Essay Did you like this example? Introduction The development of a country depends upon the financial stability of that country. The government or central authority of country formulates the schemes which can work efficiently and adequately for the proper functioning of the financial sector of a country. The financial sector of India has undergone drastic change in the last two decades. Don’t waste time! Our writers will create an original "The payment system of India and the relevant legislation" essay for you Create order Payment plays a vital role in the financial sector and it is considered as indispensable part in everyday transactions. A payment system is a mechanism that facilitates transfer of value between a payer and a beneficiary by which the payer discharges the payment obligations to the beneficiary.[1] The payment and settlement system serve as a backbone of financial system of a country.[2] Payment increases the GDP of the country therefore the payment system of country should be safe, secure, efficient and accessible. A safe and efficient payment and settlement system is sine qua non for the proper functioning of the financial system and it also plays an important role in the implementation of monetary policy as they provide conduit through which policy signals are transmitted.[3] Generally the central bank of any country works for the development of national payment system. The Reserve Bank of India (RBI), like other central banks, has been endeavoring to develop the payment and sett lement system in India on a safe, sound, secure and efficient basis.[4] The Indian payment system is based on the paper- transaction but with the changing time the situation has changed. An alternative method of payment has been encouraged by reserve Bank of India which will make the process of banking system easier and bring safety, security and efficiency in the payment system. With the efforts of the Reserve Bank of India, the Indian banking sector has been progressing and trying to adopt and implement electronic payment to enhance the banking system.[5] The Reserve Bank of India has introduced Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) and National Electronic Clearing Services which facilitates customer to adopt electronic method of payment. It is confirmed by the survey that use of electronic method of payment has increased over a period of time. The reason behind this is advancement in the technology, increasing awareness among the consu mers and internet accessibility. The Reserve Bank of India has played pivotal role in the implementation of electronic payment system. The payment and settlement system works efficiently and smoothly if is maintained by a sound legal framework. The major step in this direction is the enactment of the Payment and Settlement Act of 2007. The payment and Settlement Act, 2007 was declared in 2007 but came into effect on August 12, 2008. The Act authorizes Reserve Bank of India to regulate and supervise the payment system in India. In India, the payment and settlement system is regulated by the Payment and Settlement Act of 2007. History Of The Legislation The Payment and Settlement draft Bill was prepared in 2002 under the chairmanship of Dr. RH Patil. The committee was formed by the Reserve Bank of India to examine the various aspects of the payment system related to the legal basis of the system. The terms of reference of the committee set up by the Reserve Bank of India were as follows:- [6] à ¢Ã¢â€š ¬Ã…“To examine the adequacy of legal basis for payment system; To suggest appropriate legislative changes for regulation of payment systems; To suggest an administrative set-up within the bank for administering regulation and supervision of payment systems; Any other related matter.à ¢Ã¢â€š ¬Ã‚ [7] Finally the R H Patil committee examines the Payment and Settlement Systems Bill prepared by the Task Force on legal issues of the National Payment Council to proffer advice on matters relating to payment systems. [8] The Payment and Settlement bill was composed in 2002 but it was introduced in the Parliament in 2006. The Act came into the declaration in December by receiving the assent of the President and finally it is enforced on August 12, 2008. Payment And Settlement Act 2007 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Critical Study The Act constitute of the eight chapters and thirty- eight sections. Two regulations have been notified by the Reserve Bank of India in 2008 under the Payment and Settlement Act. These regulation are;- Board for Regulation and Supervision of Payment and Settlement System Regulations 2008 (BPSS). Payment and Settlement Systems Regulations (2008).[9] The BPSS Regulation cover: Composition of the Board; Functions and powers of the Board; Powers to be exercised on behalf of the Board; Constitution of sub- committees. Settlement System Regulations cover the following: Authorization of payment systems including submission of application for authorization for commencing or carrying on a payment systems, grant of authorization certificates, certificate formats, etc.; Payment instructions and determination of standards; Furnishing of returns, documents and other information; Furnishing of audited balance sheets, etc.[10] Objective Behind The Payment And Settlement Act The payment and settlement system considered to be the backbone of the financial sector of our country. Gradually the financial sector has been progressing and has undergone change in the payment transfer from paper- based clearing to the Real Time Gross Settlement. The electronic payment system is developed to facilitates non- cash mode of payment. There are several retail payment system operated in India like manual paper-based clearing, Electronic Fund Transfer System, card-based system, MICR Clearing etc. The Reserve Bank of India operates and manages the paper- based cheque processing across India at four places which includes Delhi, Mumbai, Chennai and Kolkata. In addition to these places it is managed by twelve centers which are operated by public sector under the supervision of the Reserve Bank of India. The other centers involved are the clearing house, which are voluntary bodies of bank who get involved expressly to for t he purpose of clearing payment system and following the instruction given by the Reserve Bank of India. The Electronic Transfer System is defined under the Payment and Settlement Act as à ¢Ã¢â€š ¬Ã…“Electronic Fund Transfer (EFT) is a system whereby anyone who wants to make payment to another person/company, etc., can approach his bank and make cash payment or give instructions/authorization to transfer funds directly from his own account to bank account of the receiver/beneficiary. Complete details such as the receivers name, bank account number, account type (savings or current account), bank name, city, branch name, etc., should be furnished to the bank at the time of requesting for such transfers so that the amount reaches the beneficiaries account correctly and faster. RBI is the service provider for EFT.à ¢Ã¢â€š ¬Ã‚ [11] The Real Time Gross Settlement System (RTGS) for the large à ¢Ã¢â€š ¬Ã¢â‚¬Å" value payment system is operated by the Reserve Bank of India. The Ca rd Based System is not operated by the Reserve Bank of India but it is indirectly operated and regulated by the card issuing bank. Under the section 58(2)(p) of the Reserve Bank of India Act of 1934, the Central Board of Directors Of the Reserve Bank of India is authorized to prepare regulations for clearing house of banks. Therefore because of the above mentioned reasons and the pivotal role played by the Reserve Bank of India it was proposed that there should be some legislation which will empower the Reserve Bank of India to act as a designating authority and to bestowed with the following powers and functions; It is the responsibility to RBI to check the payment and settlement system across the country including card companies, Clearing Corporation of India etc. The RBI should lay down the procedure for authorization of payment system and also for the revocation of the payment system. The RBI should give directions and guidelines to system providers. The RBI should maintain operational and technical standards for payment system. To call for information and furnish returns and documents from the service providers. To audit and inspect the systems and premises of the system providers To make legislation for carrying out the provision of the proposed legislation To impose fines and penalties for not providing information or documents or wrongfully disclosing information, etc.[12] Finally the Bill was passed by the Parliament seeking to achieve above mentioned objects. Designated Authority And Its Committee Chapter 2 of the Act contains the section 3 which deals with authorities designated by this Act. Under this section, the Payment and settlement Act designates the Reserve Bank of India as the authority for the supervision and regulation of payment system. It also provides for the constitution of the committee of the Central Board of Directors of the Reserve Bank of India. Board For Regulation And Supervision Of Payment And Settlement System (BPSS) The board for regulation and supervision of payment and settlement system is constituted under the section 3(2) of the Act for the regulation and supervision of the payment system. The board constituted shall consist of the following members; Governor, Reserve Bank, who shall be the chairperson of the board; Deputy Governors, Reserve Bank, out of whom the Deputy Governor who is in- charge of the Payment and Settlement System, shall be the Vice- President of the Board; Not exceeding three Directors from the Central Board of the Reserve Bank of India to be nominated by the governor, Reserve Bank.[13] Powers and functions of the Board:- Board should lay down the policies for the regulation and supervision of the payment and settlement system. Board should lay down the standards for existing as well as for the future payment and settlement system. The authorization of payment and settlement system. The board to decide the criteria for membership of payment and settlement system. Board to examine the rule and regulations framed under any statutes for giving direction from time to time. Board should take major and effective steps for proper regulation and supervision of the payment and settlement system. The board should create the essential administering structure within the existing rules and regulations for effective regulation and supervision of the payment and settlement system. The BPSS meets regularly and gives direction for bringing in efficiency, safety and customer convenience in the payment and settlement systems. There are several areas in which BPSS has provided direction such as; preparation of a framework for payment through mobile phones, extension of the jurisdiction of magnetic ink character recognition (MICR), clearing house and computerization of non- MICR clearing houses, launching the Indo- Nepal remittance system, making use of electronic mode of payment mandatory for large value transaction, making all RTGS branches NEFT enabled- while upgrading the NEFT system into a round- the à ¢Ã¢â€š ¬Ã¢â‚¬Å" clock type remittance system, exploring the feasibility of of developing a domestic card to inject competition in the market in a non- discriminatory manner, facilitating optimum use of ATMà ¢Ã¢â€š ¬Ã¢â€ž ¢s by cash withdrawal.[14] Authorization Of Payment System Chapter 3 deals with the authorization of payment system. Section 4 of the Act states that no person can operates the payment system without obtaining authorization from Reserve Bank of India. Under the Act the RBI is empowered to act as designating authority to regulates and supervise the payment system. Section 4 conveys that person can operates the payment and settlement system after obtaining authorization from the RBI. The Reserve Bank of India can authorizes a person to operate or regulate the existing houses or new clearing houses of banks in order to have a common retail clearing house throughout the country.[15] Under section 5 of the Act person who wants to operate the payment system can apply for authorization. The application for the authorization should be [1] M.L. Tannan, Tannanà ¢Ã¢â€š ¬Ã¢â€ž ¢s Banking Law And Practice In India 354 (25th ed. Lexis Nexis Butterworths Wadhwa 2012) [2] M.A. Rashid, Law Relating To Electronic Transfer Of Money 11 (1st ed. Lexis Nexis Butterworths Wadhwa 2010) [3] N.S. Toor, Handbook Of Banking Information 58 (31st ed. Skylark Publications 2010) [4] M.L. Tannan, Tannanà ¢Ã¢â€š ¬Ã¢â€ž ¢s Banking Law And Practice In India 355 (25th ed. Lexis Nexis Butterworths Wadhwa 2012) [5] Ibid [6] M.A. Rashid, Law Relating To Electronic Transfer Of Money 11 (1st ed. Lexis Nexis Butterworths Wadhwa 2010) [7] Ibid [8] N.S. Toor, Handbook Of Banking Information 58 (31st ed. Skylark Publications 2010) [9] supra note 6 [10] Ibid [11] Payment and Settlement Act, 2007 2(c) [12] supra note 2 [13] Payment and Settlement Act of 2007 3(2). [14] M.L. Tannan, Tannanà ¢Ã¢â€š ¬Ã¢â€ž ¢s Banking Law And Practice In India 354 (25th ed. Lexis Nexis Butterworths Wadhwa 2012) [15] Payment a nd Settlement Act of 2007 4(2)

Walt Whitman And Robert Frost s A Noiseless Patient Spider

When one thinks of spiders, fury bodies, long legs and fangs comes to mind. Spiders are often characterized as a violent insect. They, however, have a deeper meaning. What you see is not always what it appears to be. The spider is an â€Å"ancient symbol of mystery, power and growth†¦just ask the spider weaves a web, so too must we weave our own lives† (Spider Symbol 1). The choices we make fabricate our lives; the spider chooses where to lay its web and how to connect each thread. Some of the most well-known poets, Walt Whitman and Robert Frost, display the spider in this light. Walt Whitman’s â€Å"A Noiseless Patient Spider† varies greatly from Robert Frost’s â€Å"Design†. Whitman stresses the importance of the title by repeating it in the first line of the poem. The title suggests the work and patience required of a spider to create their web, making each line connect to the next. The spider’s web is like one’s home, oneâ⠂¬â„¢s foundation, and one’s intricate connection to life. In the first line of the poem Walt Whitman uses a form of figurative language to describe the spider. The form of figurative language Whitman uses is personification. He gives the spider the human characteristic of being patient to suggest that this story is not only about a spider. The second to third line reads, â€Å"I mark’d where on a little promontory it stood isolated, Mark’d how to explore the vacant vast surrounding†¦Ã¢â‚¬  The words isolated, vacant and vast describe the space around the spider. The author wants

Earnings Qantas Airways Limited

Question: Discuss about the Earnings Qantas Airways Limited. Answer: Introduction: Qantas Airways Limiteds financial performance has improved in the financial year 2016 as compared to the previous year, which is depicted in the increase in the return on invested capital. The company has reported a return on invested capital of 22.70% for the financial year 2016, which is greater than that reported for the year 2015 (Qantas, 2016). In the year 2015, the company reported a return on invested capital of 16.20%. The return on invested capital has been computed by dividing the earnings before interest and tax (EBIT) by average invested capital. Thus, the increase in the return on invested capital could be attributed to the increase in EBIT or reduction in the average invested capital (Bernstein, 2004). In the current case of Qantas, both the factors such as increase in EBIT and reduction in average capital employed have contributed to the increase in the return on invested capital. The EBIT was observed to be $1,476 million for the year 2015, which increased to $2,009 million in the year 2016. Further, the average invested capital was observed to be $9,091 million for the year 2015, which reduced to $8,857 million in the year 2016 (Qantas, 2016). The combined impact of increase in the EBIT and the reduction in the average invested capital caused substantial increase in the return on invested capital in the year 2016. The increase in the EBIT indicates improvements in the operational performance of the company in the year 2016. The primary reason for improvement in the operational performance has been observed to be increase in the revenues. The revenues of the company increased from $15,816 million in the year 2015 to $16,200 million in the year 2016 (Qantas, 2016). In addition to this, there have been observed a reduction in the operating cost as well. The major reduction was found to be in fuel cost, which reduced from $3,937 million in the year 2015 to $3,250 million in the year 2016 (Qantas, 2016). Further, the reduction in the average invested capital also caused improvement in the operational performance of the company. In the regard, the major improvement was observed in the managing receivables. The accumulation in receivables went down from $1093 million in the year 2015 to $929 million in the year 2016. Further, slight increases in the liabilities such as payables and advance revenues helped in optimizing the invested capital, which ultimately caused enhancement in the return on invested capital (Bernstein, 2004). Cost of Debt for Qantas Amount ($M) Amount ($M) Interest bearing debt 2015 Current 771.00 Non-Current 4,791.00 Total 5,562.00 Interest bearing debt 2016 Current 441.00 Non-Current 4,421.00 Total 4,862.00 Average level of debt for 2016 5,212.00 Total Interest paid out in 2016 284.00 Cost of Debt (Interest paid/Average level of debt 2016) 5.45% The market value of shares is taken as the weight of equity in the computation of WACC. Therefore, the average equity level has been calculated based on the market value of shares as shown below: Market Value of share capital of Qantas Share Capital Market Value on 01.07.2015 No of Shares (million) 2,205 Share Price on 01.07.2015 3.26 Market Value (A) ($M) 7,187.40 Share Capital Market Value on 31.06.2016 No of Shares 2,083 Share Price on 31.06.2016 2.82 Market Value (B) ($M) 5,874.05 Average Equity Levels for 2016 2016 ($M) 2015 ($M) Market Value of Shares 5,874.05 7,187.40 Treasury Shares (50.00) (7.00) Reserves (220.00) (66.00) Retained Earnings (100.00) (1,115.00) Total Equity 5,504.05 5,999.40 Average Equity for 2016 5,751.73 Cost of Equity for Qantas: Using CAPM Model Description Rate Remarks A. Risk free rate 1.77% Based on 5 years bond yield (Bloomberg, 2016) B. Market return 7.18% Based on average annual returns on ASX 200 (refer appendix-B) C. Beta of Qantas 0.86 Computed variance and covariance of returns (refer appendix-A) CAPM 6.40% Weighted average cost of capital Weight Cost Weighted Average Debt 0.48 5.45% 0.026 Equity 0.52 6.40% 0.034 WACC 5.95% The return on invested capital is the return earned by the company on the amount of capital or resources used in earning that return. The weighted average cost of capital (WACC) is the return that the investor may desire from the company to earn. Thus, the weighted average cost of capital designates the investors expectations from the company (Brigham and Daves, 2014). In case of Qantas, the company earned after tax return on invested capital of 15.90%, while the weighted average cost of capital is worked out to be 5.95%. This indicates that the company is earning more than the investors expectations. Therefore, the return on invested capital of 15.90% is very much acceptable from the investors perspective. The company is following policy of paying dividend and buying the shares back from the shareholders. This policy of the company seems to be inappropriate in the given circumstances because the company is earning more than the investors expectations. In such circumstances, the company should retain the profits and reinvest the same in the operations rather than distributing as dividend to the shareholders. On the same grounds the company is advised to stop buy back of the shares also. References Qantas. 2016. Preliminary Final Report for the Financial Year Ended 30 June 2016. [Online]. Available at: https://investor.qantas.com/FormBuilder/_Resource/_module/doLLG5ufYkCyEPjF1tpgyw/file/full-year-results/preliminaryFinalReport16.pdf [Accessed on: 20 September 2016]. Bernstein. 2004. Analysis of financial statement. Tata McGraw-Hill Education Brigham, E.F. and Daves, P.R. 2014. Intermediate financial management. Cengage Learning. Bloomberg. 2016. Australian bond rates. [Online]. Available at: https://www.bloomberg.com/markets/rates-bonds/government-bonds/australia [Accessed on: 20 September 2016].

So I Write free essay sample

The pen is loudest when our voice is silent. Every writer has their inspiration, their muse. They write to spin a story, to get an idea or point across, I write to speak. Living in a home that feels more like a barless prison; where you have little to no voice on matters of your own life, takes a toll. So I write. The thoughts that keep trying to push their way out of my mouth and fly free in the air, flow freely onto my paper. My pen is louder than my voice ever was. Thoughts that I only wish I could tell my mom, are stopped by a wall called culture. Speaking out against her for defending my own beliefs would be interpreted as disrespectful. So I remain silent, not daring to utter a sound. All I can do is wait until I’m able to spread my wings and finally feel the freedom and independence I’ve craved for for so long. We will write a custom essay sample on So I Write or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Until then, I write. It seems that as I grew older, the worse my home seemed to me. It felt like the walls shrunk, little by little, almost like it was trying to suffocate me. The one sided yelling matches between my mom and I grew more frequent as I gathered more courage to speak out, but it wasn’t enough. She always found some way to stop me before I even got started. I was learning to speak out against her, albeit a little late, but better than never. My writing got shorter as some of my thoughts were voiced. As I wrote, my world expanded without my knowing. I went back and reread some of the things I had written, and realized that my thoughts had changed and shifted their focus. Instead of writing about my prison-like home I began to write about the world. Interacting with my friends and finding out their views on subjects got me thinking about what my views were. I slowly turned my attention away from my own problems, and started thinking about the hardships that others go through. What was once an outlet for my unspoken thoughts and silent words is now a way in which I record what I learn about the world through my own eyes and of the others around me. As Henry David Thoreau once said, â€Å"How vain is it to sit down to write, when you have not stood up to live?†. Now I sit down to write what I have lived to see, and let my voice be louder than my pen as it should be.