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Catcth Us If You Can Chapter 1-5
Section 1 Rory and his granddad are holding back to see Dr Nicol, theirâ family specialist at the doctorââ¬â¢s sitting area. Rory calls ...
Thursday, December 26, 2019
A Short Story A Story - 1181 Words
~I went to school was hanging out with my friends came home and had a nice dinner with my family and went to sleep at the sounds of the wind blowing through the trees, woke up to birds chirping~ then I actually woke up give me the remote! yelled my sister. No my brother shouted. ââ¬Å"Its my turn, GIVE IT BACK! Thats what I woke up to every morning. Got myself breakfast because dad went to work and mom wasnt awake and walked to the bus. I sat by myself as always and watched the beautiful trees of Africa pass by. Went through all my classes, science, English, ... Till lunch I asked nicely if I could sit with some of the guys, but they just turned around laughing, I always wondered whyâ⬠¦show more contentâ⬠¦I thought was gonna die. But out of nowhere this huge giraffe came out and all the animals ran, including the giraffe that helped me so I was a bit confused, but I ran after it anyway, for a pretty long time until I couldnt anymore. But it stopped running so I finally caught up to it and it said ââ¬Å"holaâ⬠.. I was so confused why did it just say hi to me in a different language? So I ran back to my tree to go to bed. As I was falling asleep, I continued to think about what had happened earlier. The giraffe saved me from all those animals, but then didnt want to talk to me. Then when I finally got it to say something it was in a different language.. Spanish. So when I woke up I went to the Sahara cafe and got my breakfast same as yesterday, but I also found a Spanish-English dictionary. Then I spent over half the day going around to look for the giraffe and read some words from the dictionary. I finally found the giraffe. I went up to it and it almost ran, but I quickly looked in the dictionary to see what ââ¬â¢waitââ¬â¢ is in Spanish I found it and yelled ââ¬Å"ESPERAâ⬠So he stopped, turned around looking surprised that I spoke in Spanish but then it looked down and saw the dictionary and it looked less confused. I looked in the dictionary to see how to ask ââ¬Ëwhat is your nameââ¬â¢ and I asked him ââ¬Å"à ¿como te llamas?â⬠he answered and said ââ¬Å"Rafael peroShow MoreRelatedShort Stories : A Story Of A Short Story838 Words à |à 4 PagesShort Stories: Creative writing The dark place Supper was always at six oââ¬â¢clock. Our one meal of the day, the highlight of our day. One stale slice of bread and one small pot of cold rice some suspected wasnââ¬â¢t even rice. A cup of water was also allowed to aid in washing down the miniscule amount of putrid food. Drinking the water thought could cause typhus. Supper was never a sufficient amount of food but it kept us breathing and denied us the energy we needed to attempt or even plan an escapeRead MoreShort Story : The Story Of The Story1264 Words à |à 6 PagesSuicide mention near the end of the story, please do not read if you are not ok with things like that. It was a beautiful day at the beach. He had been planning their date for weeks. The war had ended and he finally had a chance to spend time with her. He watches her beautiful blonde ringlets bounce as she walked. Her smile was like the sun itself. Hey Seaweed Brain. She grinned. Wise Girl. He greeted her back. She was looking quite distant so he decided to ask what was wrong. What are youRead MoreA Short Story : A Story Of A Story1091 Words à |à 5 Pagesher, anyone could tell that it sounded forced. ââ¬Å"Thatââ¬â¢s nice,â⬠I replied. What? Was I supposed to tell her that I was so thrilled to be her sister because thatââ¬â¢s the ââ¬Ënormalââ¬â¢ thing to do? If you think that, youââ¬â¢ve forgotten that this is not a normal story. If normal is what youââ¬â¢re looking for, youââ¬â¢re welcome to transition to Amelia by Henry Fielding. My mother left Lucinda and me to share Eleanors room, while she had been forced to adjust to the attic. You may think that it would be cruel to haveRead MoreA Short Story : The Story Of The Story1011 Words à |à 5 PagesIt is a rainy afternoon, KYOKO OTONASHI is sitting in the classroom as the teacher is giving a lecture in front of the room. Her phone buzzes and she takes it out to check it.Dads messageTheres been another murder, come to the station as soon as possible.Kyokos textI will, after class ends.The bell rings, Kyoko puts her books into her bag and head towards the entrance of the school.As she approaches the exit, she notices that the rain is quite heavy. She doesnt have an umbrella and hesitatesRead MoreA Short Story : The Story Of The Story879 Words à |à 4 Pagesââ¬Å"Ugh, go away!â⬠,yelled Sarah to her little brother. Wait you dont know who these people are, well then let me introduce them to you.This story is about a little family who lived in a small house in New York City. This family consisted of the mom, the dad, Sarah the big sister who we were just talking about, and Sammy the little brother which we were also talking about. Anyway, Sarah is a sixteen-year-old girl who loves music, talking to her friends, and being on social media. Sammy, on the otherRead MoreA Short Story : A Story Of A Story?756 Words à |à 4 Pages It was November 29 1864, I was with my brother Kiaan. He was fifteen years old. My name was Hansh and I was only thirteen years old. We were outside my village practicing archery. My brother was a really good bowhunter, he taught me everything I do. Once we headed back to our village my mom was cooking corn and deer meat, that my father killed the day before. We were planning to have a picnic soon. Then it happened, we heard screaming and hollering across the village. My brother and I lookedRead MoreA Story Of A Short Story1228 Words à |à 5 PagesHi. My name is Chelsea and this is a short story from my lif e. Now, I am not really good at talking about my life because I feel like there really is not much to discuss. However, I am going to tell you about the hardest thing that I have had to overcome. It is upsetting and sometimes hard to talk about, but I have learned the most from this than I have anything else. It is something that constantly clouds my train of thought and sometimes leaves me at a loss. You see, it all happened six yearsRead MoreA Short Story : A Story?725 Words à |à 3 Pagesstarted to walk off. ââ¬Å"But grand...â⬠he was gone from site. I started to get real nervous and started to pick another scab on my knee. Marco was the long time manager here, and for some reason would always chat with grandpa for at least an hour. He was a short man that always had strong pulled back gell in his hair, with a large belt to pull up his shaggy tan pants. I could see Grandpa and Marco starting toward me out of my peripheral vision. Marco with the litter and Grandpa had the long grin on his faceRead MoreA Short Story : A Story?1746 Words à |à 7 Pages ââ¬Å"Iââ¬â¢m off to work!â⬠Cole shouts to his parents as he closes the house door behind him. Today is his first day of work, and he is very excited. When Cole moved to the city, he found a job at one of the factories, and being inspired by machinery, he applied and was accepted. Cole is 17 years old, and is tall with black hair and a thin build. As a kid, he loved school, and would go voluntarily unlike some of his classmates, and so he is expecting great things from his first job. From his house, ColeRead MoreA Story Of A Short Story710 Words à |à 3 Pagesââ¬Å"I am going to tell you a story. It goes all the way back when I was once a young lad like you. Itââ¬â¢s about all the amazing and wonderful adventures I went on. It all started at storage and collection for me. I was thirty-two at the time and was at the bottom of the lake, traveling to my parents current where they were vacationing on. I floated all the way up to the surface to look around. The sun was blazing. It shined right on me. The sun was really helpful because I was really cold, but it warmed
Wednesday, December 18, 2019
The Trial Of The Mill Farm - 1883 Words
ââ¬Å"In the spring of 1886 the plaintiff, learning that the defendants had some polled Angus cattle for sale, was desirous of purchasing some of that breed, and, meeting the defendants, or some of them, at Walkerville, inquired about them, and was informed that they had none at Walkerville, but had a few head left on their farm in Greenfield, and they asked the plaintiff to go and see them, stating that in all probability they were sterile and would not breed. In accordance with said request, the plaintiff, on the fifth day of May, went out and looked at the defendants cattle at Greenfield, and found one called Rose 2d, which he wished to purchase, and the terms were finally agreed upon at five and one-half cents per pound, liveâ⬠¦show more contentâ⬠¦2. Where, in such a case, the thing actually delivered or received is different in substance from the thing bargained for and intended to be sold, there is no contract; but if it be only a difference in some quality or acciden t, even though the mistake may have been the actuating motive to the purchaser or seller, or both of them, the contract remains binding. 3. Where a cow was contracted to be sold upon the understanding of both parties that she was barren and useless for breeding purposes, and it appeared that such was not the case, -- Held, that the vendors had a right to rescind the contract, and refuse to deliver the property. Further reading on the American case of Sherwood v. Walker shows that, ââ¬Å"Tthe contract made was not within the statute of frauds, and that payment for the property was not a condition precedent to the passing of the title from the defendants to the plaintiff. Furthermore I agree that the plaintiff was entitled to a delivery of the property to him when the suit was brought, unless there was a mistake made which would invalidate the contract; and no such mistake can be found. There is no pretense that there was any fraud or concealment in the case, and an intimation or insinuation
Tuesday, December 10, 2019
Life as a Screenplay free essay sample
The soft velvet seat of the theater surrounds me as I start to relax; the floor is sticky with the residue of spilled soda and candy, and a hint of butter still lingers in the air. The curtains go down and the lights dim; a scene flickers onto the blank screen, an establishing shot of a house. The camera pans right and focuses on the only window in the house with light spilling out. A girl sits at her desk, her face hidden from the prying eye of the lens. The camera follows as she gets up and makes her way to the kitchen, switches to a high-angle shot as she makes her own dinner. The camera cuts away from the girl and focuses on her surroundingsââ¬âshe is alone. The silence is too much for her, so she slips into bed and pulls the covers up around her to drown it out. We will write a custom essay sample on Life as a Screenplay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Only in slumber does she reveal her face to the camera. As the curtains go up and the lights return, I remember that I am the girl on the screen; I am just another character in a story, and my life up until now has always been lived through a lens. Since I was young, I have fancifully considered that I may be the star of an elaborate ââ¬Å"Truman Showâ⬠- style program. Though I, of course, recognize the utter improbability of my fantasy, it has still shaped the way I see the world. A brilliantly-hued sunset becomes an impressive CGI shot, my closet morphs into a costuming department able to accommodate any era, and that new girl in Biology clearly came from the Casting department. Through it all, the cameras rollââ¬âmy eyes, capturing the reels of my life and framing the defining moments of my existence in memories, like limited edition film cells. The lights dim once more, for my daydream-intermission has come to an end, and the projector sputters back to life, returning me to the heroineââ¬â¢s storyline. The scene comes into focus: a long shot of my sitting in the middle of a restaurant, dishes clattering in the background amid a cacophonous atmosphere. My mind stumbles back in time, and instead of watching the scene, I am now reliving it. My throat closes up and tears threaten to spill out of my eyes as I look down at my untouched plate. When I look up, I see my motherââ¬â¢s mouth moving, but I donââ¬â¢t hear the words clearlyââ¬âitââ¬â¢s as if everything is being muffled by a wall. Sheââ¬â¢s talking about my father: I think I hear the word divorce, and though I canââ¬â¢t be sure Iââ¬â¢ve heard correctly, I know itââ¬â¢s true. Iââ¬â¢m not shocked; the truth is I had come to terms with the inevitable long before that day. It is this scene, more than any other, that shows me the powerââ¬âand limitationsââ¬âof my mental camera. Strange details that I hadnââ¬â¢t planned to recordââ¬âmy brotherââ¬â¢s stony face, the water-spot on my fork that I canââ¬â¢t seem to removeââ¬âare indelibly captured on film, while crucial segments, even my own lines from the script, have somehow landed on the cutting room floor. The film reel catches and jerks to a stop, forever paused in that moment of time. Unable to replay that scene further, I revisit the episodes of their divorce, sometimes fast-forwarding, sometimes moving frame by frame, aware yet again of the power of the camera; how the scene is framed, how the contents of the foreground or background can dramatically alter the effect on the audience. When my mothers claims about my father, blown out of proportion, loom too large near the foreground, my heart pangs with guilt as I remember the bitter script I recited at him. With proper framing and proportion, though, I am able to find the necessary balance, the c ontentment of understanding that I can control where my camera focuses. Every day, I revisit the theatreââ¬â¢s dark corridors. This theater is not open to the publicââ¬âit is here to remind me that I must choose to be my own director, to take an active hand in the casting, scripting, and composition of what will be the greatest blockbuster of my lifetime. It is a limited run, so I better make it worthwhile. Even though I dont always know the script, I do know that, from now on, Iââ¬â¢ll be the one controlling the camera.
Monday, December 2, 2019
Mixed methodology Essay Example
Mixed methodology Essay Methodology This study will employ the mixed method in obtaining the results. Mixed methodology although considered complex and tasking, it is identified as one of the effective ways to conduct a comprehensive study (Mertens, 2014). In this mixed method, it will entail both the qualitative and quantitative methods. The qualitative method will involve the use of questionnaires and survey to obtain relevant information regarding the topic in research. Also, it will comprise of an understanding in details the available literature on the subject. In such a study that aims at developing better interventions, it is important to obtain some of the explanations involving the research topic. Another qualitative method will involve the use of interviews to some of the employees especially in the oil industry. In the quantitative analysis which involves the use of numeric values to conduct a research, it will also entail the use of questionnaires but in the format that allows for numeric data to be obtaine d. The quantitative analysis will also entail the use of already researched data found in the existing literature on the subject. The materials that will be required in the methodology will mainly include funding for the entire process. The funding will be used for purchasing the required writing materials. Additionally, in the live interviews and use of the questionnaires, it is important to consider motivating the employees who will be involved in the study although the research is based on voluntary services. In consideration also is payment of the people who will be assisting me in conducting the study such as the administering of the questionnaires and collecting of various data. Another requirement is obtaining the necessary legal documents for the study such as permission by the companys officials of all the industries I will conduct my study. We will write a custom essay sample on Mixed methodology specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mixed methodology specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mixed methodology specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Data analysis will entail the use of software to provide the necessary graphs and determine the correlation between the different variables of the questionnaire. A transcriber will also be used to convert the audio information into written words for ease in storage and analysis. The questionnaires on the other hand, since they are few will be sampled and analyzed singly while putting down on paper the necessary data and information. It is important to put into consideration some of the ethical aspects during the study. This will include ensuring gender equity among the respondents and fairness in the administration of the questionnaires. Notably, legal considerations should also be ensured to avoid conflicts with different people during the study. While it is important to seek permissions from the relevant officials of the industries where the study will be conducted, it is crucial to ensure that the respondents information is kept confidential. This will be achieved with the help of avoiding the use of names of the employees and those involved in the study. The methodology will also entail following the set procedure in conducting research such as training the respondents on what is expected from them before commencing the study. In such a study where both information and data is required, it is conducted with the help of both the qualitative and quantitative methods. While the quantitative data provides information based on numeric figures, the qualitative method will provide the necessary information in a theoretical manner. Questionnaires are selected as most people can express themselves amicably without fear of victimization by the companies they represent. The live interview, on the other hand, will be based on accessing information from the management team and those who do not fear any related issue with the study. Plan for the research This study is expected to cover the duration of seven months. Among the various aspects of the study which will be added include discussion and presentation of the results. Also, there will be the development of the proposed strategies based on the results obtained while recommending on some of the new strategies that can be used. The project will be distributed as follows Activity October (2016) November (2016) December (2016) January (2017) February (2017) March (2017) April (2017) May (2017) Project Proposal Literature review Data Collection Data Analysis Discussion Compiling of the report Presentation Conclusion Change remains the most viable option to improve the success of an organization while reducing the loss of customers and profits. However, the risk of resistance to change remains a dire situation that requires effective intervention. While this is possible, it is first important to consider the reasons behind the resistance which will then assist in developing efficient interventions. Various studies have been developed to study this topic. According to the literature review, technical expertise, efficacy, receptivity and readiness remain the core reasons behind the change resistance. While technical knowledge defines the skills and abilities of the different employees, receptivity is described as how well the workers will adopt the changes being proposed. Receptivity has been identified as a core reason behind change resistance since it focuses on challenges that will face the employees workability. Considering the issue of readiness, it entails both the aspects of knowledge and re sources. According to the existing literature, communication remains the key factor behind both resistance to change and developing ways to avert this aspect in any organization. This proposal will, therefore, aim at seeking more answers towards this topic while basing on two main aspects; the issue of the current trends and their influence on the change resistance and the role of management in change management and mitigation of resistance. The two areas are selected sincle they have not been effectively analysed.The study is based on the Oil Corporation in Angola, one of the largest industries globally. The study will then employ the use of mixed methodology to provide an effective analysis of information. While the qualitative method will entail the use of surveys, questionnaires, and interviews, the quantitative methodology will involve obtaining numeric data from previously done research. The entire study is expected to take eight months while making use of various resources and workforce. Through this study, I anticipate contributing to the existing literature on various aspects involving reasons for change resistance. While focusing my study on the glo bal trends that will influence change resistance, it will be therefore easy to develop strategies that are aimed at addressing possible challenges in change implementation. Similarly, I aim at identifying the role of the management and leadership in organizational change and averting possible resistance in its implementation. References Alvesson, M., Sveningsson, S. (2015).Changing organizational culture: Cultural change work in progress. Routledge. Austin, M. J., Ciaassen, J. (2008). Impact of organizational change on organizational culture: Implications for introducing evidence-based practice.Journal of Evidence-Based Social Work,5(1-2), 321-359. Barros, C., Antunes, O. S. (2014). Productivity change in the oil blocks of Angola.Energy Sources, Part B: Economics, Planning, and Policy,9(4), 413-424. Benn, S., Dunphy, D., Griffiths, A. (2014).Organizational change for corporate sustainability. Routledge. Burke, W. W. (2013).Organization change: Theory and practice. Sage Publications. Cameron, E., Green, M. (2015).Making sense of change management: a complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers. Cameron, E., Green, M. (2015).Making sense of change management: a complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers. Girons, F., Guerra, F., Hernndez, J., Poblacin, J. (2013). Structural Change in the Crude Oil Price Dynamic: Theoretical Study and Practical Implications.Business and Economic Research,3(1). Hanif, M., Khan, Y. S., Zaheer, A. (2014). Impact of organizational resistance to change on BPR implementation: a case of state bank of Pakistan.European Journal of Business and Management,6(4), 186-196. Klonek, F. E., Lehmann-Willenbrock, N., Kauffeld, S. (2014). Dynamics of resistance to change: a sequential analysis of change agents in action.Journal of change management,14(3), 334-360. Lindmark, M., Acar, S. (2015). Periods of converging carbon dioxide emissions from oil combustion 1973-2004.Available at SSRN 2573668. Lundy, V., Morin, P. P. (2013). Project leadership influences resistance to change: The case of the Canadian public service.Project Management Journal,44(4), 45-64. Matos Marques Simoes, P., Esposito, M. (2014). Improving change management: How communication nature influences resistance to change.Journal of Management Development,33(4), 324-341. Mertens, D. M. (2014).Research and evaluation in education and psychology: Integrating diversity with quantitative, qualitative, and mixed methods. Sage publications. Tudor, L. (2014). Change Management Employees Resistance Towards Organizational Change.Romanian Statistical Review Supplement,62(9), 36-43. Tummers, L. G. (2013). Connecting public administration and change management literature: The effects of policy alienation on resistance to change.(FSW).Faculteit der Sociale Wetenschappen. Umble, M. I. C. H. A. E. L., Umble, E. L. I. S. A. B. E. T. H. (2014). Overcoming resistance to change.Industrial Management,1, 16-21. VINES, A. (2016). Continuity and change in Angola: insights from modern history.International Affairs,92(5), 1229-1237.
Wednesday, November 27, 2019
Study of Cephaolpods essays
Study of Cephaolpods essays Cephalopods are a remarkable group of animals, with a huge array of adaptations. They can change colour faster than a chameleon plus change texture and body shape. They have three hearts pumping blue blood, are jet powered (water is forced through their siphon by contracting their mantel to provide quick thrust) and have representatives in all oceans of the world - from the tropics to the poles - the intertidal to the abyss. And have even inspired legends and stories since recorded history began. Cephalopods first appeared some time in the late Cambrian, several million years before the first primitive fish began swimming in the ocean. They are believed to be the ancestors of modern cephalopods (Subclass Coleoidea) diverged from the primitive externally shelled Nautiloidea (Nautilus) very early - possibly in the Ordovician, some 438 million years ago. -This is before the first mammals appeared, before vertebrates invaded land and even before there were fish in the ocean and upright plants on land! Thus, nautilus is very different from modern cephalopods in terms of morphology and life history. They were once one of the most dominant life forms in the world's oceans; today there are only 650 or so living species. (Levinton 2001) Octopuses, squids, cuttlefish and the chambered nautilus belong to class Cephalopoda ('head-foot') and the phylum Mollusca. They are nearly always carnivorous, and are characterised by complex behaviour, a well-organised nervous system and a circle of grasping arms, and a powerful beak. Cephalopods are therefore related to bivalves (scallops, oysters, and clams), gastropods (snails and slugs), scaphopoda (tusk shells), and polyplacophorans (chitons). Some of these molluscs, like the bivalves, don't even have a head, much less something large enough to be called a brain! Yet cephalopods have well-developed eyes and other senses that rival our own, large brains, and even show learning and memory skills. M...
Saturday, November 23, 2019
Hypoglycemia Essays - Diabetes, RTT, Medical Emergencies
Hypoglycemia Essays - Diabetes, RTT, Medical Emergencies Hypoglycemia subject = Human Anatomy title = Hypoglycemia Hypoglycemia means low blood sugar or low fuel in the blood. It also refers to a distubed carbohydrate metabolism, since some people change between high and low blood sugar levels. When the body tries to work under these conditions, mental processes are impaired and body systems are broken. Hypoglycemia is sometimes related to other conditions like drug addiction, alcoholism, allergies, arthritis, diabetes, mental illness, anti-social behavio, an juvenile deliquency. There are numerous causes of hypoglycemia including; inborn errors of metabolism, defects in enzyme systsms, disorders of various glands and organs (hypothalamus, pituitary and adrenals, nervous system, kidneys, and liver). The most common cause is a diet high in carbohydrates and caffiend, which disturbs the blood-sugar regulating systems of the body. THere are a number of symptoms of Hypoglycemia that can be identified. The major symptoms are depression, insomnia, irritability, lack of concentration, crying spells, phobias, forgetfulness, confusion, unsocial or anti-social behavior and suicidal tendencies. The early symptoms of hypoglycemia are similar to those which occur as the result of experiencing a sudden and violent fear: fainting, tremulousness, and inward tremblind, emotional disturbances, chilliness, numbness and pallor encirling th nmouth, hunger, apprehencion, hand tremors, mild degree ofmental cloudiness, dilated pupils and pale skin. As the hypoglycemia progress, a variety of symptoms occur such as headaches, difficulty inconcentration, disoreientation, mental confusion, dizziness, faintness, double vision, coldness of the extremities, staggering or inability to walk, muscle twitching, depression, restlessness, and excessive excitement. Unless these symptoms are recognized and treated, hypoglcemia can lead to convulsions, amnesia, and unconciousness. In 1924, Seale Harris M.D., a diabetic specialist noticed that many peopl had symptoms without having diaetes. Their blood sugar would drop too low after eating a sugary refined carbohyudrate meal, or after drinking cafeine or alcohol. After an initial rise but not into the diabetic range, their blood sugar would then fall into a hypoglemic range with many different symptoms depending on the indivvidual, the immune system, and the metabolis. He was the first person to notice Hypoglycemia and to differentiate it from Diabetes. Hypoglycemia can be treated a umber of ways. THe diet should exclude things that can cause stress on thebody, such as caffeine, nicotine, alcohol, and rapidly absorbed carbohudrates such as sugars, honey, and many grains and cereals. Frequent feedings are essential,k withhearty breakfasts and bedtime snacks. Many symptoms will dissapear when the blood sugar is stablilized. THe most important thing to remember is that the average adult has between one and twot easpoons of blood sugar circulating in his body at one time, with a small amount stored in his liver foremergencies. A child has less in relationto its height and weitht. Eating foods such as 4 ozs of chocolate cake withicing and 6 ozs of Coke, which is too quickly absorbed into the blood, can cause a mess from the sugar overload as the body has to bring the blood sugar down to a normal range by a very complicated process.
Thursday, November 21, 2019
Why does Warren Buffett rely heavily on Net Working Capital analysis Essay
Why does Warren Buffett rely heavily on Net Working Capital analysis as his principal method of valuing businesses Do you agree - Essay Example What is meant by Net Working Capital? Net Working Capital (NWC) is Current Assets minus Current Liabilities. Current Assets include Cash and Cash Equivalents, Receivables, Inventory and other current Assets. Current Liabilities include all Short Term Borrowings. Net working Capital is also defined as that part of Current Assets that is financed by Long term Funds. This definition of the NWC is useful for the analysis of the trade-off between Profitability and risk. The Greater the amount of NWC, the greater is the liquidity of the business, lesser the risk. Thus, if the companyââ¬â¢s goal is increasing profitability, it can be achieved by increasing risk, which again is measured by the lower level of Net Working Capital. The important elements of decision making during the process of purchase of a business are Profitability and Risk. Both these elements can be analyzed using Net Working Capital. Net Working Capital can be improved by infusing new funds in to the business in terms of Capital or long term finance. Similarly, NWC can be deteriorated by purchase of Long Term Assets. Any increase in Current Assets of the company which has a corresponding increase in current liabilities would not effect the NWC of the company. The value of the business is determined by its intrinsic value. Intrinsic value of a business can be determined by Long term Assets minus Long term Liabilities. The other way of measuring the intrinsic value of the business is Current Assets minus Current Liabilities, which is measured by Net Working Capital. 2In a net-net situation, an investor estimates a liquidation value for a company, then tries to pay a fraction of that value in the market. Ben Graham loved these types of situations, defining the net-net value as: Graham would invest in companies which are available at a price which is two-thirds of the NWC of the company, the one-third portion is the margin of safety which would protect the investor against
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