Common College Admission Essay Mistakes

Normal College Admission Essay MistakesThe procedure of composing a confirmation exposition isn't simple. An understudy must arrange himself to manage the difficulties that each understudy faces when he's out for another excursion into the universe of advanced education. At the point when an understudy composes an exposition, he needs to convey a solid contention and a decent story.College affirmations articles are normally distributed in an application magazine. Consistently a great many understudies apply for admission to various universities. Setting up an article for every one of them is very testing. One can either think about it up literally or have the assistance of an exposition author or secondary school counselor.If you're composing the paper yourself, there are some normal slip-ups you ought to keep away from. The majority of these mistakes are very straightforward however it is imperative to know about them. You can tell if your article is directly by the measure of time you spend on composing it and the nature of the work.One botch numerous understudies make is making their confirmations exposition excessively long. It is prudent to compose your paper in pieces of between a few hundred words. Utilizing solid action words ought to be utilized cautiously, with the goal that the peruser doesn't get bored.One thing that a great many people do when composing their articles is they begin expounding on one point and immediately become dreary. It's imperative to compose an even and broadened story. Understudies frequently follow a similar example when they compose a school confirmations essay.You might be considered to have done an incredible level of research and dig profoundly into various perspectives. In any case, on the off chance that you likewise keep on rehashing themes or subtleties according to one perspective, your paper will get dull. This is the thing that makes understudies become befuddled and surrender before they even attempt to wrap up th e essay.It is basic to break the routine at whatever point you compose a paper. It is anything but difficult to get charmed with a solitary subject when you compose your exposition. Along these lines, when you attempt to handle such a large number of points one after another, it makes you become confounded. It is imperative to manage different subjects at the same time as this will make your article all the more clear and interesting.A regular issue with understudies who compose their school affirmation paper is that they will in general utilize aloof voice. At the point when an understudy utilizes this kind of latent voice in his article, it makes the peruser feel that the essayist doesn't think a lot about what he is expounding on. Since your crowd will peruse your paper, it is basic to utilize dynamic voice when discussing what you're expounding on.

Financial Essay Samples

<h1>Financial Essay Samples</h1><p>When you are composing a paper on the budgetary market, you need to get viable help on the most proficient method to compose monetary exposition tests. You have to make a sort of a treatment on your money related market papers which would assist you with retaining the consideration of the peruser. For this you can utilize the best exposition tests as there are numerous online sources available.</p><p></p><p>First of all you need to compose a decent paper on the monetary market. At that point you need to return to the notable case of composing and dissect what is the most ideal approach to manage this sort of a situation.</p><p></p><p>For this you need to take the assistance of formats or preformatted papers which you can use to begin with. This is significant in light of the fact that it is hard to form a decent paper when you are not used to this sort of circumstance. What's more, th e composing instrument, for example, a layout or a preformatted paper is very helpful.</p><p></p><p>Second, you have to begin from the essentials and you need to think about the various thoughts and ideas and afterward start the work toward your exposition. The best models for money related market are the features, the sentences and the sections. You need to ensure that the words you use are those which would be generally reasonable and fitting for your theme. The manner in which you end the sentences and the manner in which you start it is very important.</p><p></p><p>The most significant thing is to choose the correct watchwords. On the off chance that you don't think about these watchwords, at that point you ought to find out about it and afterward you can begin making fascinating features. In your own voice, you need to communicate your thoughts, which are exceptionally valuable for your essay.</p><p></p><p> The following stage is to utilize the exploration technique. Research is significant in this sort of a circumstance. You need to inquire about a decent arrangement and furthermore you need to consolidate the exploration with some fundamental information about the monetary market.</p><p></p><p>After you have completed the examination, you need to place your own thought into your paper. It is significant that you put your own thoughts in your exposition since you should advance your own thoughts and there will be no damage in utilizing your own ideas.</p><p></p><p>The last advance in this sort of circumstance is to arrange the budgetary market paper. This is significant in light of the fact that you should show yourself in a great manner before the perusers. On the off chance that you neglect to sort out the paper, at that point you won't have the option to draw in the consideration of the readers.</p>

Some Adventure of Huckleberry Finn Research Paper Topics

<h1>Some Adventure of Huckleberry Finn Research Paper Topics</h1><p>There are some experience of huckleberry Finn inquire about paper themes to consider when composing an exploration paper. While this small critter isn't the greatest warm blooded creature on earth, it is positively a brilliant one. It is likewise viewed as one of the sharpest everything being equal. This makes it an incredible subject for an examination paper in light of the fact that there are such huge numbers of entrancing realities and data about this little guy.</p><p></p><p>When you read the experiences of huckleberry Finn inquire about paper points, you will find that this animal can do some exceptionally intriguing things. One thing that you will find out about this creature is that it is one of the most intelligent everything being equal. A few people feel that they are more clever than hounds, yet there are a ton of animal groups that are viewed as more brilliant th an hounds. This makes it a decent subject for an examination paper. On the off chance that you are searching for something one of a kind in your exploration paper, at that point you ought to expound on this little guy.</p><p></p><p>A incredible spot to start examining this small animal is through the accounts of its authentic noteworthiness. Numerous individuals will disclose to you that huckleberries were before a well known delicacy. They were utilized to make jam and some even utilized them to make jams. While numerous individuals despite everything appreciate eating these natural products, they are once in a while utilized in jams these days.</p><p></p><p>If you take a gander at the historical backdrop of this awesome animal, you will find that there are a few incredible experiences to expound on. One experience is that the incomparable John Wesley Powell made a trip to southern South America. He couldn't get any huckleberries sinc e they don't develop close to the region. He because incapable to discover any was on the grounds that he needed more preparing to utilize the fitting instruments.</p><p></p><p>He was astonished when he found a tree with ready berries and he attempted to take some home, however he was unable to take any in light of the fact that it had been on the tree for quite a while. The organic product was unreasonably unpleasant for him to eat and he tossed it out. Despite the fact that he didn't live to eat the organic product, it turned into the focal point of a great deal of contention since it was accounted for that he beat one of his workers to death for taking the fruit.</p><p></p><p>One of the undertakings of huckleberry Finn explore paper themes that you can expound on is that this little person has a ton of dependability. In the event that you ever attempt to get one, you will find that they don't come simple. It will take a great deal o f work to get them to come up to you and to stop long enough for you to get it.</p><p></p><p>Another experience that you can expound on is that this creature was initially reproduced as a confined fledgling in an enclosure at a day care focus. Along these lines, it would be hard for them to fly, yet on the off chance that they were disregarded, they would have the option to fly exceptionally high. This is the reason numerous individuals accept that this creature is the main winged creature that can fly.</p><p></p><p>Some individuals accept that this experience is misrepresented, yet others imagine this is valid. This makes it an incredible experience of huckleberry Finn look into paper point that you can research to compose about.</p>

How To Choose The Right Short Research Paper On Operating System Topics

<h1>How To Choose The Right Short Research Paper On Operating System Topics</h1><p>Knowing the various kinds of working frameworks accessible to understudies is very useful with regards to composing a short research paper on working framework points. This kind of paper encourages the understudy to see how different sorts of working frameworks work and what it resembles to utilize them.</p><p></p><p>A short research paper on working framework subjects that an individual can compose can incorporate three distinct kinds of data that one can take a gander at. The first would be the sort of working framework that they are right now utilizing. They can likewise take a gander at how much time they have gone through with it and on the off chance that they are happy with it.</p><p></p><p>The next kind of data they could take a gander at would be the capacity that the specific sort of working framework needs to run different pro jects. They could likewise find out about a portion of different frameworks that they have utilized previously. They could find out about where the product originates from, where the distinctive programming dialects originate from and what sort of help is accessible for the working system.</p><p></p><p>Finally, the last kind of data that they should take a gander at is whether they are happy with the data given in the paper. The understudy should realize that they will be required to give a type of assessment of the working framework just as give a type of input about the paper. The understudy ought to think about whether they need to partake in the assessment process.</p><p></p><p>This short research paper on working framework points could be as basic as a concise rundown of the kinds of working frameworks that they have just utilized and a synopsis of the sort of working framework that they have to use to have the option to give the most ideal paper. On the off chance that there are an excessive number of things that the understudy needs to expound on, they should investigate finding a guide or accomplishing the work on their own.</p><p></p><p>It is conceivable to discover data online about what kinds of short research papers an understudy ought to compose on. Nonetheless, it is prescribed that they get a mentor to assist them with ensuring that they have the entirety of the data that they have to compose a decent short research paper on working framework points. The mentor can assist with guaranteeing that they have the sort of data that is required and will assist with guaranteeing that they are not presenting a deficient paper.</p><p></p><p>Most individuals will in general overlook that it is just their needs that they ought to expound on in an examination paper. Understudies need to ensure that they consider the necessities of the various individuals that they will compose for with regards to the various kinds of working frameworks accessible to them.</p>

The Nuiances of Nursing Reflective Essay Samples

<h1> The Nuiances of Nursing Reflective Essay Samples </h1> <h2> The Downside Risk of Nursing Reflective Essay Samples</h2> <p>Major strife happens when everybody doesn't consent to the qualities. Nursing is an area that is impossible to miss, in the inclination that it's supplied with a particular nature. Heaps of individuals with serious or significant learning inabilities may never build up the ability to flag their expectations. </p> <p>Nursing the executives is far not quite the same as administration. Recreation is likewise huge in the life expectancy of an understudy. Nursing is among the hardest teaches out there. Nursing is a way of life, not simply work. </p> <p>Communication assumes a basic job inside this situation. Notwithstanding what kind you might want Business Studies, Microeconomics, Business Management and Financial Accounting, we're here to serve your necessities. Innovation has a significant impact in human services associations. </p> <h2> Nursing Reflective Essay Samples - the Story</h2> <p>Some patients are in stun, they start talking unknowingly, accordingly, a medical attendant is foreseen to show signs of responsiveness to that understanding in order to give them a sentiment of solace. Health related crises happen while taking care of patients. All medicine is given by means of a peg. A medical attendant will be able to oversee obligations relying upon their capacities which will likewise limit feelings of anxiety and social insurance mistakes which may emerge in the associations. </p> <p>So when you have a paper appointed that you need support with, you can buy article online mode st from us. How you sort out your exposition is dependent upon the framework. You may likewise get any attendant article model which you ought to raise your composition. Intelligent articles are close to home pieces of the author that they've converted into words. </p> <h2> Finding Nursing Reflective Essay Samples on the Web </h2> <p>Moreover, there's additionally a suggestion that there's a need to actualize the innovation. You just need to share an encounter. Our administration supplies various advantages which we figure you will see very appealing. Further, innovation is expressed to be useful to the point it has a possibility of advancing self-administration among the prepared alumni medical caretaker and it'll raise the master improvement. </p> <h2>New Questions About Nursing Reflective Essay Samples </h2> <p>Supervision frequently happens once the medical attendant is as yet attempted her or his examinations, however when they gr aduate to an alumni nurture, oversight isn't advertised. Intelligent practice is a critical piece of all medical attendant training programs. Nursing can commonly be a genuinely charged vocation, especially for medical caretakers working in territories like mental health and palliative consideration. As opposed to different fields, nursing requests a specific consideration regarding word choice, particularly with respect to the evaluation of patients. </p> <p>There are down to earth exercises whereby the understudy is anticipated to figure out how to deal with patients. The group of the individual should be made aware of the earnestness of the situation and should be mentioned to offer the person with mental and social help to assist him with recouping and join recovery focus. It's essential to truly think about patients and to gracefully them with the absolute best consideration conceivable. The methodology for nursing significantly relies upon the conveyance of brilliant patient consideration and showing up at better choices out of nowhere which will give the attender an amazing astuteness and certainty to convey further critical situations. </p> <h2>The Honest to Goodness Truth on Nursing Reflective Essay Samples </h2> <p>The Gibbs (1988) model of reflection suggests that the technique for reflection is orderly and follows bunches of explicit measures as an approach to be prosperous. You are probably go ing to adore our work. Coyne (2008) has discovered that youthful people are infrequently engaged with the dynamic procedure once it respects their discussions. Luckily our group is comprised of expert essayists which have the ability to make exceptional substance for you. </p> <h2> Top Nursing Reflective Essay Samples Secrets</h2> <p>Whether this example seems natural to the one which you have gotten in your college, at that point do get in touch with us for the entire arrangement! This strategy in this manner permits a professional to yield a corresponding or elective kind of information and a lot of choices in the assessment of the best game plan. It's conceivable to likewise take reference from the nursing intelligent diary test beneath and see whether it appears to be recognizable to the one which you should fix. </p> <h2> What You Need to Know About Nursing Reflective Essay Samples</h2> <p>In nursing, exposition composing is the s ignificant activity for those understudies in order to secure incredible evaluations. You can without much of a stretch purchase one of a kind school expositions and don't disregard to educate loved ones concerning it. It's conceivable to effortlessly rely upon us to discover paper help as we tend to help and guide the understudies with the help of our expert specialists. On the off chance that you're searching for help with your paper, at that point we give an exhaustive composing administration offered by completely qualified scholastics in your general vicinity of study.</p> <p>Now you can get certifiable school exposition on the web, one that is going to accommodate your money related arrangement and complete your work as well. The perfect thing about us is that every single time you can purchase unique article papers available to be purchased. So for individuals who need help with composing, we've just the individuals they require! Fortunately, you've gone to the perfect spot to find the best solution for each and every scholastic composing issue that you're as of now looking with your exposition. </p>

Using The Help Of AP Lit Essay Samples

<h1>Using The Help Of AP Lit Essay Samples</h1><p>AP Lit Essay tests may get you out when you are composing your AP Lit Essay since they will get you out from the whole procedure. At the point when you are composing an AP Lit Essay, you have to have the essential abilities, so you can have an away from of a similar with regards to the structure of your essay.</p><p></p><p>While making the article, you have to do as such with the assistance of AP Lit Essay tests since you should be acquainted with the materials that you will utilize. You ought to figure out how to examine a point that you will compose on and that implies you should search for the best sources on the subject and those sources may incorporate diaries, diaries that have been distributed, sites, books and even sonnets. Knowing the best sources that are accessible on a specific point is important so you can go to them if at any time you come up short on resources.</p><p> ;</p><p>The next thing that you have to think about is that, with the assistance of AP Lit Essay tests, you can concoct an option that could be better than you could have simply by perusing or perusing through different articles that you see. This is genuine on the grounds that the exposition ought to mirror a specific topic. To do this, you have to remember the different things that would be remembered for that topic. You will have the option to think of a decent topic on the grounds that the correct theme is the thing that you will talk about in your essay.</p><p></p><p>One of the best things about the paper that you will do is that you will have the option to form it dependent on your own composing style. The subject and the topic are the two things that are expected to form the point and the topic that you will do. With the assistance of AP Lit Essay tests, you will have the option to form the theme that you need. At the point when you are com posing the subject of the article, you have to consider the subjects that are generally utilized in different expositions that have been distributed and you can utilize those subjects to give you the topic that you want.</p><p></p><p>Using the AP Lit Essay tests is likewise probably the most ideal approaches to think of new themes. At the point when you are searching for subjects that are utilized in different expositions that have been distributed, you will have the option to think of a decent theme. You will have the option to pick themes that are generally applicable to your specialized topic or to your subject. You will have the option to utilize the AP Lit Essay tests to think of points that are identified with the subject that you are composing on.</p><p></p><p>When you are searching for a decent theme for your exposition, the best thing that you can do is to search for the subjects that have just been utilized. At the end of the day, you can concoct a theme for your exposition from a bit of verse. At the point when you are doing this, you have to guarantee that you will utilize verse that is related with your subject. You will have the option to think of a subject that is anything but difficult to peruse and to understand.</p><p></p><p>Poetry is something that everybody likes, particularly with regards to composing. It is the ideal apparatus that you can utilize when you are composing your AP Lit Essay since it can get you out when you are attempting to concoct a point and a subject. You will have the option to get motivation from verse so you can think of subjects that are anything but difficult to peruse and to understand.</p><p></p><p>AP Lit Essay tests are extraordinary in light of the fact that they will assist you with composing a decent theme for your paper. At the point when you are scanning for a subject and a topic, the best thing that you can do is to search for the themes that have just been utilized. With the assistance of these AP Lit Essay tests, you will have the option to think of a subject that will be anything but difficult to peruse and to understand.</p>

Essay Topics on Psychology

Essay Topics on PsychologyWhen writing an essay on Psychology, good topics are harder to come by than ever before. The internet has made it very easy for people to not only write but also to publish their writings, thus increasing the quantity of material which is available. Unfortunately, some of the things that have gone into producing these materials can actually damage an already damaged mind, causing it to wander off the topic, confused.One of the problems that people face when they are writing an essay on any subject is that they make assumptions about what to read and how to prepare. Some may choose to get a book on it, while others may read books on psychology themselves. However, there are many more resources that can be used to increase the quality of the essay, while also making it easier to understand.One way to start is to look at the types of topics that are often used to make a topic. There are many similarities between the types of topics, such as the questions which are asked in the opening of the topic, the purpose of the topic, and the emotions behind the topic. By looking at these areas of interest, a reader may be able to see which topics work well, and which do not.Another way to create good essay topics is to actually go out and read them. I would recommend that you write out a topic in advance and then go out and read books on Psychology. By doing this, you will be able to see where you may be getting lost in the ideas, and how to clarify them.A forum is a great place to use. Forums, because of the nature of the discussions, are able to bring ideas together. In fact, the topics found in forums may be used for topics which should be included within the essay.Topic directories can also be used. These directories are listed on many websites, such as for Psychcentral, which specializes in topics which deal with Psychology. By using the directories, you can find many topics which you may not have seen before. Because of the sheer number of to pics available, you can then narrow down the areas that you wish to research.Using a writing software can be a valuable tool for writing essays on Psychology, and the same goes for creating essay topics. Most writing software has templates that can be used for each topic. The best part is that this allows you to really get into the process of actually writing the essay.It is essential that you try and think about and write about topics that have been used before, and therefore, they will be familiar to you. This will help you to avoid straying off the topic which you have chosen. By making a few changes to the main topic, you can make it a completely new topic and not lose readers.

Attachment Theory And Its Effect On Children Essay

INTRODUCTION To begin to understand the attachment theory one must first understand and have a clear definition of what attachment is. Attachment theory derives from psychoanalytic psychology, however it is used in social work to attempt to understand behavior in infancy and childhood to show the way in which children develop emotionally (WALKER 2009). It is the idea that a child needs to form a close relationship with at least one primary caregiver. This relationship will have a significant effect on how the child will adjust to their future relationships. The Attachment theory originates from the John Bowlby (1907 - 1990), a British psychoanalyst who was attempting to understand the intense distress experienced by infants who had been separated from their parents. He believes that the experiences in childhood effected the developed meant of children and their behavior right through their lives into adulthood. Attachment theory looks at the child’s bonds with their parents or caregivers and allows us to understand how this relationship affects the child. The theory states there is a human requirement to build relationships. It’s a part of being human and a part of us all. Our attachment can be broken down into four main aspects, which are proximity maintenance, safe haven, secure base, and parathion distress. ASPECTS OF ATTACHMENT 3:00 Proximity maintenance is the persons desire to be around or near the people they are attached to. We all want to be around those we knowShow MoreRelatedAttachment Theory And Attachment Theories1053 Words   |  5 Pages To begin with attachment theory, first everyone should understand what the attachment is. According to attachment means bonding between a child and caregiver or vice versa. The attachment theory is the theory that describes the long term interpersonal relationship between the humans. Also, it can be defined as the strong bond between parent and child, and later in peer and romantic relationship (Metzger, Erdman, Ng 85). It generates a specific fact that how the humans react in relationshipsRead MoreLearning Theory Of Attachment And The Other Being Bowlbys Evolution Theory1692 Words   |  7 Pagesdevelopment in later life. Attachment theories are studied and the effect of no attachment or disrupted attachment is studied and aimed to be resolved. John Bowl by defined attachment as the emotional and physical connection that makes two people stay close to one another. It is between children and their primary caregivers (Psychologistworld.com, 2016). This essay will discuss and evaluate two theories of attachment: one being Dollard and Miller’s learning theory of attachment and the other being Bowlby’sRead MoreThe Levels Of Social Work1314 Words   |  6 Pagessuch as a community. The levels of social work practice are not only related, but they influence each other and often display characteristics of a cause and effect relationship. This essay will explain how the levels of social work practice influence each other, followed by examples of this influence, particularly focusing on attachment theory. In conclusion, this essay will demonstrate how the relationship between the social work levels of practice can affect a social worker’s ability to stay inRead MoreAttachment Theory : A Psychological Model1638 Words   |  7 PagesAttachment theory is a psychological model that provides an influential, biologically driven explanation of how the parent-child interaction emerges and how it influences human deve lopment over a life span. The term attachment refers to the complex set of related thought processes and behaviors towards a primary care giver. The attachment behaviors are biologically guided by our natural instinct for protection and safety. This evolved behavioral system organizes human motivation, emotions, cognitionRead MoreAttachment And Its Effects On Children s Life1025 Words   |  5 PagesAttachment starts to develop since the women’s pregnancy, during this stage of human development the female starts to cultivate emotional attachment to the fetus. The method in which attachment is formed during gestation will eventually affect or enhance the child stance during pregnancy or even after birth. Attachment can be defined as the manner in which an infant creates an emotional connection between specific members. Attachment can be clearly detected, especially with the persons who are closerRead MoreAttachment Theory on Socio-Emtionals Development of Children1435 Words à ‚  |  6 PagesAttachment Theory: One of the most studied topics in today’s psychology is the attachment theory whose common references are from attachment models by Bowlby and Ainsworth. Since its introduction, the concept has developed to become one of the most significant theoretical schemes for understanding the socio-emotional development of children at an early stage. In addition, the theory is also developing into one of the most prominent models that guide parent-child relationships. Some of the keyRead MoreChild Care Services1536 Words   |  7 PagesChild Care Services, that include first, custodial services concerning health, hygiene and safety of children, second, child development services covering socialization, language skill and personality development and third, pre-school services ranging from informal learning to formal educational preparatory learning from elementary schools, was appeared to be initiated in France in 1770 in the name of â€Å"Salles d’asile† (asylum room) for serving the interest of working women. Along with custodial servicesRead MoreThe Theory Of Development Concepts And Applications By William Crain1076 Words   |  5 PagesOur home was one of somewhat traditional roles in terms of family dynamic.   I worked long hours away from the home and didn t have the one on one  contact with our children  that my wife had, and enjoyed.   I of course got the play-by-play from her, but in hind sight, I was deprived of so many beautiful observations.   Our text Theories of Development Concepts and Applications by William Crain  outlines human development by many theorists.   A few of those are  John Bowlby,  Mary D.S. Ainsworth,  and  Ã‚  ErikRead MoreThe Effects Of Personal Attachment Style On Romantic Relationship Satisfaction1718 Words   |  7 PagesThe Effects of Personal Attachment Style on Romantic Relationship Satisfaction Our earliest relationships in life can be deeply formative in shaping our development. Created by John Bowlby, attachment theory relates the importance of attachment in regards to personal development. According to Bowlby, attachment is the leading factor in our ability to form and maintain relationships as adults (Levy 2012, pg. 157). As human beings, we need to feel as if we belong (Cherry, 2016). We find this belongingnessRead MoreMy Point Of View Attachment Theory1033 Words   |  5 PagesMain Post Attachment theory is defined as the characters associated with the long term associated of human beings. From my point of view attachment is a lasting, secure and positive bond between a child and a caregiver, a reciprocal relationship. John Bowlby who used his knowledge in developmental psychology, psychoanalysis, ethology, and data processing to base his principle of the theory developed attachment theory. John Bowlby believed that attachment theory was on of the four essential behavioral

Risk and Return Analysis Capital Budgeting

Question: Discuss about the Risk and Return Analysis Capital Budgeting. Answer: Introduction An investor earns returns from a stock in the form of dividend and stock price appreciation. For earning this return, he also has to undertake some amount of risk. Risk is the variability in the price of the stock over a period of time. Higher the risk of the stock, more is the expected return. An investor would undertake a risk return analysis before investing in a stock to see if the stock gives better returns than the market at a lower risk. We have done a risk return analysis for the Flight Centre Travel Group for a period of five years and on the basis of the results, have suggested whether it is a good investment or not. Capital Budgeting is a process of determining the feasibility of a project comprising of long term investments in terms of profitability. Some of the capital expenditures include purchase of new plant and machinery, introduction of a new product or process etc. there are various techniques in capital budgeting which can be used to analyse the capital investment. Net present value (NPV) is the most important one and a project is accepted only if the NPV is more than 1. A capital budgeting analysis has been done for ABC ltd. where techniques used are NPV analysis, sensitivity analysis and scenario analysis. Risk and Return Analysis The daily returns, monthly returns and yearly returns and yearly standard deviation for the Flight Centre Travel Group are given in the annexure. The analysis has been done for a period of five years from 01-01-2012 to 31-12-2016. Also the systematic risk/market risk using the daily returns of the market has been calculated in the annexure along with the unsystematic risk (Yahoo. Finance, 2017) On the basis of the above calculations, the beta value for the companys stocks is 0.92. Beta measures the volatility of the stock with respect to the market and an investor can choose between various stocks depending on the beta and his risk appetite. A beta of 1 means that the movement in the stock price is in tandem with the market and if the market price increases by 10%, the stock price will also increase by 10%. A beta of less than 1 means the stock is more stable and does not move in tandem with the market. This reduces the risk of the stock. Here, Flight Travel Group has a beta of 0.92 which means that if the market price reduces by 10%, the stock price of the company will reduce by only 9.2%, thus implying low risk. Hence, for investors who prefer a stable and secure investment, this is a good investment. However, investing only in this stock will not maximize the returns. In order to minimize the risks and maximize the returns, it is important to have a diversified portfolio. The market risk measured by beta or systematic risk cannot be fully eliminated but it can be minimized by diversifying the portfolio. Also the unsystematic risk which is the company specific risk is 1.7%. This risk can be eliminated with diversification. In a diversified portfolio stocks of different companies with different beta should be kept. Stocks with beta more than 1 will give high returns when the market is rising and stocks with beta less than 1 will give returns better than the market when the market is falling, thus maintaining a balance. Apart from stocks, an investor can invest in bonds which have very low risk and returns are assured (Damodaran, NA) Capital Budgeting Capital Budgeting is a process of analysing an investment expenditure to see if it is profitable to make such capital expenditure or not. There are various techniques to do so like NPV, IRR, payback period etc. The new expansion plant project of ABC Ltd. has been analysed using capital budgeting to see if the company should undertake the investment or not. The initial investment outlay of the project is: Building cost $24,000 Equipment $16,000 Net working capital $12,000 Initial investment $52,000 The operating cash flows over the projects life are given below: Year 0 1 2 3 4 Annual sales $80,000 $80,000 $80,000 $80,000 Variable manufacturing costs $48,000 $48,000 $48,000 $48,000 Fixed overhead costs $10,000 $10,000 $10,000 $10,000 Depreciation on building $600 $600 $600 $600 Depreciation on equipment $3,200 $3,200 $3,200 $3,200 Total operating income $18,200 $18,200 $18,200 $18,200 Income Tax@40% $7,280 $7,280 $7,280 $7,280 Profit after tax $10,920 $10,920 $10,920 $10,920 Operating cash flows $14,720 $14,720 $14,720 $14,720 The terminal years cash flows for the ABCs expansion project: Terminal value After tax salvage value Building $17,640 After tax salvage value equipment $3,680 Recovery of working capital $12,000 Terminal value $33,320 Working Notes: Building Building cost $24,000 Book value $21,600 Total depreciation $2,400 Annual depreciation $600 Market value $15,000 Loss on sale $6,600 Tax on loss $2,640 After tax salvage value $17,640 Equipment Equipment $16,000 Book value $3,200 Total depreciation $12,800 Annual depreciation $3,200 Market value $4,000 profit on sale $800 Tax on loss $320 After tax salvage value $3,680 NPV analysis Year 0 1 2 3 4 Operating cash flows $14,720 $14,720 $14,720 $14,720 Initial investment -52000 Terminal value $33,320 Net cash flows -52000 $14,720 $14,720 $14,720 $48,040 Cost of capital @12% $1 $0.893 $0.797 $0.712 $0.636 Present value of cash flows -$52,000 $13,142.9 $11,734.7 $10,477.4 $30,530.3 NPV = $13,885 The project has a positive NPV which makes the project acceptable. A positive NPV means the cash inflows are more than the cash outflow and the project will generate profits for the company. Hence, it is recommended that the company should go ahead with the new plant expansion. Sensitivity Analysis It is a technique used to determine the NPV changes with a change in the various assumptions or estimates of the project. This helps the managers in a proper analysis and preparing them for the worst. The result of sensitivity analysis for the current project by increasing and decreasing the sales, variable costs and cost of capital and their impact on the NPV has been discussed below: Value Drivers Expected NPV Revised NPV % Change Increase in sales by 2% $13,885 $15,052 8.4% Increase in sales by 5% $13,885 $16,801 21.0% Increase in sales by 10% $13,885 $19,717 42.0% Decrease in sales by 2% $13,885 $12,719 -8.4% Decrease in sales by 5% $13,885 $10,969 -21.0% Decrease in sales by 10% $13,885 $8,054 -42.0% Increase in variable costs by 2% $13,885 $12,136 -12.6% Increase in variable costs by 5% $13,885 $9,511 -31.5% Increase in variable costs by 10% $13,885 $5,138 -63.0% Decrease in variable costs by 2% $13,885 $15,635 12.6% Decrease in variable costs by 5% $13,885 $18,259 31.5% Decrease in variable costs by 10% $13,885 $22,633 63.0% Increase in cost of capital by 2% $13,885 $10,618 -23.5% Increase in cost of capital by 5% $13,885 $6,162 -55.6% Increase in cost of capital by 10% $13,885 -$253 -101.8% Decrease in cost of capital by 2% $13,885 $17,418 25.4% Decrease in cost of capital by 5% $13,885 $23,279 67.7% Decrease in cost of capital by 10% $13,885 $34,832 150.9% From the above table we see that cost of capital is the most sensitive factor in this project as with a 10% increase in the cost of capital, the NPV decreases by more than 100%. Also with a decrease in cost of capital by 10%, the NPV increase by 150%, thus making it the most sensitive factor. After cost of capital, it the variable cost which is sensitive to the NPV. With 10% increase in variable costs, the NPV decreases by 63% whereas with a 10% decrease in sales, the NPV decreases only by 42%. Thus cost of capital is the most sensitive factor followed by variable costs and the least sensitive is sales. Scenario Analysis Under scenario analysis, different scenarios are taken where more than 1 input is altered and the impact of such changes is seen in the NPV. Normally there are three scenarios considered which is best case, normal case and worst case. For the current situation, we have assumed the best case as increase in sales by 10%, decrease in variable costs by 10%, and decrease in cost of capital by 10%. For the worst case we have assumed decrease in sales by 10%, increase in variable costs by 10%, and increase in cost of capital by 10%. The results are as follows: Original NPV Revised NPV % Change Best Case $13,885 $54,206 290.4% Normal case $13,885 $13,885 0.0% Worst case $13,885 -$11,504 -182.9% From the above table we see that the NPV increases by 290% in the best case and decreases by 183% in the worst case. Conclusion The risk and return analysis of Flight Centre Travel Group suggests that the stock is a safe stock with a beta less than 1 (0.92) and hence is a good investment for investors with low risk appetite. However, in order to maximize returns, it is suggested that the investor should invest in stocks of other companies with a beta of more than 1. This will diversify his portfolio. Also apart from stocks, he should invest in other securities like bonds and debentures. The capital budgeting analysis of ABC Ltd. new plant expansion project gives a favourable result where the NPV is positive and the project seems favourable. Of all the inputs, cost of capital is the most sensitive factor. Reference Damodaran, A., (NA), Estimating Risk Parameters, Stern School of Business, New York Finance. Yahoo, (2017), SP/ASX 200 (^ AXJO), accessed online on 17th April, 2017, available at https://in.finance.yahoo.com/quote/%5EAXJO?ltr=1 Finance. Yahoo, (2017), Flight Centre Travel Group Limited (FLT.AX), accessed online on 17th April, 2017, available at, https://finance.yahoo.com/quote/flt.ax?ltr=1