Opioid Prescriptions for Chronic Pain and Overdose Research Paper

Opioid Prescriptions for Chronic Pain and Overdose - Research Paper Example The authors want to use this study to understand if there is a correlation between prescribed opioid therapy and opioid-related overdose. The authors have made it known that no such study has been previously undergone that evaluates the overdose risk in patients receiving prescribed opioids for chronic pain, which is why this study needed to be undergone. This study was conducted at Group Health Cooperative in Seattle, Washington. The patients involved in the study were 9940 people who had received three or more opioid prescriptions no more than ninety days prior to the study for chronic noncancer pain between the years of 1997 and 2005. These participants had to be at least eighteen years of age, if not older, and had to have been diagnosed with any of the eligible pains, which consisted of back or neck pain, menstrual pain, headache, abdominal pain or hernia, osteoarthritis, and fractures, contusions, or injuries. Anybody seeking to participate in this study that had a pain other t han what was eligible was dismissed from the study. The participants in the study also had to be enrolled at Group Health Cooperative at least two hundred and seventy days prior to the onset of the study. ... Further automated health care data was used to obtain information about the patient, anything from their personal background to their pain diagnosis. Additional measurements were made in regard to the amount of sedatives that were dispensed to patients. Other medical records were perused to identify potential overdoses of opioids; reviews of medical records were also undergone to classify and validate cases of overdose. A Cox proportional hazards model was implemented into the study to determine the risk for overdose based on each individual and their average daily dose of opioids. Simple observation was also undertaken, which involved monitoring the participants of the study and the amount of opioids that were to take each day and their reaction to the medication. It was noted the previous opioid use prior to any given day during the study. Observations were used until individual patients became disqualified from the study, either from disenrollment from the facility or from their h ealth care provider, their first overdose, death, or the end of the observational period. The authors made it known that after the initial ninety days of the study, the patients were followed for an additional forty-two months to ensure complete results and to make sure that nothing was overlooked. Of the original 9940 people that were involved in the study, 61% had complete follow-up, most of which lasted until the end of the study period, 32% left Group Health Cooperative and were therefore unable to finish out the study, and 7% of the participants had died. The introduction of the the results section of the article also went into detail about the mean age of the participants and the mean dosage of daily opioids. A table was provided to

The Real Number System and Order of Operations Assignment

The Real Number System and Order of Operations - Assignment Example M stands for Multiplication and it takes the third precedence in the order of operations. Looking at this expression, 4 x 8 – 6 + 3, we multiply 8 by 4 to get 32, then add 6 to 3 to get 9. Subtracting 9 from 32 we get 23. S stands for subtraction. Any subtracting command is executed last when doing the sums. In our above expression, our last step was to subtract 9 from 32 where we got 23. The order in which the signs will follow each other is important and it determines the answer one gets. Following the correct steps and orders in life is very important. For science students, following the correct order of operations and steps would mean the difference between getting the desired results and getting a disaster in case the steps are mixed up. Take an example of the preparation of Potassium Hydroxide;- If for example a student interchanged the steps and put the potassium into the water bath then due to the high reactivity of potassium with water, an explosion would ensue. This just helps to illustrate the need to follow correct steps in real

Development of Credit Facilities in Sierra Leone

Development of Credit Facilities in Sierra Leone Chapter 1 This study is on the creation of credit facilities to Small and Medium Size Enterprises in Sierra Leone with special focus on the construction industries. 1.1 Background to the Economy of Sierra Leone Sierra Leone is a relatively small country, on the West Coast of Africa with an area of approximately 28,000square miles. The estimated population is 5.5 million inhabitants, 30% of whom resides in the western area of the country according to recent census in 2006. The state of the country’s economy, immediately after independence from the British Colony in 1961 up to the 1970’s, was quite satisfactory in terms of performance. The exchange rate between the Leone and other foreign currencies was relatively good. More so, the British Pound Sterling was exchanged at One pound ( £1) to One Leone (Le1). The inflation rate was extremely low. The country’s earnings from exports were very much attractive, with Diamond export accounting for well over 50% of the country’s foreign exchange earnings. This was closely followed by cash crop exports such as Cocoa, coffee, oil palm, piassava and chillies. The country’s external debt position at this time was not high, Between 1972 to 1975, the economy started experiencing down turn that was mainly due to external factors, such as the famous oil price shock in 1973. Naturally, the 1980 Organisation of Africa Unity (OAU) summit that was hosted by the government of Sierra Leone fuelled the debt crisis in Sierra Leone. Because of the foreign exchange scarcity in the country, the credit agreement between domestic importers and their business partners aboard collapsed. In 1988, the country was forced to devalue her currency. Between 1992 and 1994, Sierra Leone successfully implemented an adjustment program supported by the International Monetary Fund (IMF) under the Right Accumulation Program (RAP). The World Bank also supported the program through the Reconstruction of Import Credit (RIC) in 1992 and the Structural Adjustment Credit (SAC) in 1993. Following the successful implementation of the RAP, the IMF approved a three year arrangement support under Enhanced Structural Adjustment Facility (ESAF). The implementation of the first annual program was disrupted by the escalation of the rebel activities in 1995. With the return of democracy in 1996, the IMF supported the economic recovery program adopted by the new Government with a second annual program under the ESAF. Poverty intensified with real per capita declining to US$142 in 2000. Since then Sierra Leone has been classified as the poorest country in the world and ranks at the bottom of the United Nations Development Programme (UNDP) Human Development Index. The growth in the economy has been underpinned by broad recovery in Agriculture, mining, manufacturing, construction and the service sector. The economy of the Country continues to worsen in early 1992 when the civil unrest started which causes untold sufferings on humans and the entire country. Many people were forced out of their houses and eventually became displaced persons and refugees in their own country and neighbouring country like Guinea, The Gambia and Ghana. Almost all segments of the business economy collapsed including banking and lending institutions. It was then the problems of growth in economy worsen and every thing completely deteriorated and collapsed. The almost 11 years of civil unrest ended in March 2002. The end of the war actually opens the door for a new beginning, for new economic growth and prosperity in the face of peace and unity. The situation has recently worsened because of the credit crunch faced by many of the world famous banking institutions and Sierra Leone has not been any exceptions. The effect coupled with other factors has created more gaps for banking institutions to provide loans to small and medium enterprises. In a press release from Prlog Dec. 15, 2008 by Robin Trehan as quoted â€Å"SMEs represent over ninety-nine percent of the country’s employers. While it is essential that these businesses obtain the necessary funding to remain active, they are often the first to suffer when financial crisis hits. Banks already facing financial hardship often deem SMEs as too risky to finance. Credit terms are becoming increasingly harder and qualifying for financing is subject to much stricter guidelines. The re are things that SMEs can do, however, to increase their chances of finding financing†. 1.2 Statement of the Problem The term credit in this thesis refers to an amount or sum placed at a person’s disposal by a bank and usually to be repaid with interest within a given period of time. Small and Medium Size Enterprises (SME) is very important in terms of the dynamic role in the development of the private sector in Sierra Leone. The SME’s are regarded as an engine for any economic growth and development in any country. They provide opportunities for job creation and expansion in the physical reconstruction of the economy especially for a post war development country like Sierra Leone. Majority of the physical infrastructures ranging from housing, office buildings and business structures were all destroyed during the civil unrest. These structures need to be reconstructed for the economy to grow and become prosper. Today many construction companies or firms have emerged to assist in the rehabilitation and reconstruction. While there may be some of the construction companies who have existed of years, it is also true that majority of these construction companies are new ones who are just coming up to help and provide their expertise in the development of Sierra Leone. But yet still, it is a challenge for many of these companies to adequately involve in the process of rehabilitation and reconstruction simply because they cannot get the required finance in the form of overdraft or loans, or provide the necessary collateral for the banks as required, making them less competitive. In Sierra Leone the performance of SME’s over the years has been very poor which is due to the fact that the creation of credit from the banks which is an essential stimulant for private investment in the construction industries has been grossly under performing. This is one of the reasons for poor performance of the economy in terms of growth in most developing countries including Sierra Leone. Construction companies have not been able to access huge funds by way of loan over the years from the banking and other financial institutions, mainly due to lack of confidence in the private sector as a result of problems like moral hazards and the absence of collateral security and the lack of experience in construction engineering. 1.3 Justification of the Study The importance of the construction industries in the process of rehabilitation and reconstruction of the war towns in Sierra Leone cannot be over-emphasized. During the war there was so much destruction of infrastructures in the country, now that there is peace there is high need for reconstructions and the development of new roads and structures to aid national growth. International organisations like the International Monetary Fund (IMF), World Bank, African Development Bank (ADB) main focus is to assist Small Medium Size Enterprises (SME) in developing countries gain strong financial base. It had been felt that SMEs employ majority of the work force in the developing countries, therefore, they have realised that when SME become financially stable the economy of the nation will be better and that the citizens will be able to live a comfortable life. The role of commercial banks and other financial institutions in private sector development and the assessment of their overall performance in terms of economic growth and development has not received much of the attention by researchers. The central bank maintaining interest rate at high level has greatly contributed to discourage SMEs from borrowing from retail banks and other financial institution for investment purposes. This is one of the reasons why most SMEs are under developed. Besides commercial banks are requesting for very stiff conditions to access loan by the private sector. A study on the provision of credit to construction companies for investment towards economic growth has not been studied in greater detail by previous researchers. This among others, gave me the urge to probe into the activities of the commercial banks and other financial institutions in the creation of credit to construction companies in Sierra Leone, This study is to help government and other professionals as well as other stakeholders, to grasp fully the implications of credit refusal to small and medium size enterprises and how it will affect the development of the nation. The result of this study is hope to enable banking and other financial institutions, local and national government and other stakeholders to device concrete ways by which small and medium size enterprises can easily get access to credit to undertake construction programmes. 1.4 Objectives of the study The main aim of the study is to assess the implications of credit creations by the banks and other financial institutions to Small and Medium Size Enterprises with special focus on the Construction Industries for economic growth and development in Sierra Leone. The specific objectives are: To determine the extent to which banks have been contributing to the development of the construction industries in Sierra Leone. To examine some of the reasons responsible for the inability of the construction industries to solicit loans from the banks and other financial institutions for the purpose of investment. To establish reasons for the reluctance of the banking and other financial institutions to provide the much needed funds for private sector development. To examine the reasons for the reluctance of the banking sector to provide the much needed funds for SME in the construction industries for development, even though SME’s are regarded as the engine of economic growth. 1.5 Research Questions: Certain research questions will be drawn up for proper examination of this objective. These include: To what extent do commercial banks provide funds to Small and Medium Size Enterprises in the construction Industries? What are the main problems encountered by the construction companies in terms of securing loans and overdrafts from the commercial banks? What is responsible for the low investment of the private sector (SME’s) in Sierra Leone? What is the role of the central bank in facilitating credit creation for SME’s in the pursuit of development in Sierra Leone? What is the role of the Government ministry in the area of infrastructural developmental plans for Sierra Leone? The study will make use of secondary data received from the Bank of Sierra Leone, Commercial Banks and some of the registered construction companies in Sierra Leone. The study will try to reveal the reasons for the constraints Small and Medium size Enterprises are facing in securing credit facilities from the banks. Interviews will be conducted with senior officers of both the banking industries and construction sectors, together with government officers in the area of national development for the country. 1.6 Definition of Operational Terms: 1. Credit Creation: Credit creation is the multiple expansions of banks demand deposits. It is an open secret now that banks advance a major portion of their deposits to the borrowers and keep smaller parts of deposits to the customers on demand. 2. Venture Capital: Venture Capital is the name given to equity finance provided to support new, expanding and entrepreneurial businesses. Venture capitalists usually prefer to take a close interest in the business that is the subject of their investment. This could involve taking part in decision made by the business. Funds provided by venture capitalist are often referred to as private capital.(Mclaney E, 2003) 3. Gearing: Small businesses are in a fundamentally different position from that of the larger one on the issue of gearing. Financial risk to which capital gearing gives rise tends to emphasise operating risk, which will be present with or without gearing. Small businesses are more exposed to financial risk than public liability companies. (Mclaney, 2003) 4. Bank and Institutional Debt: Long term loans are available from banks and other financial institutions at both fixed and floating interest rates, provided the issuing bank is convinced that the purpose of the loan is a good one. The cost of bank loan is usually a floating rate of 3-6 percent above the base rate, depending on the perceived risk of the borrowing company. The issuing bank charges an arrangement fee on bank loans, which are usually secured by a fixed and floating charge, the nature of the charge depending on the availability of assets of good quality to act as security. A repayment schedule is often agreed between the bank and the borrowing company, structured to meet the specific needs of the borrower and in accordance with the lending policies of the bank. (Watson D Head A, 2007) 5. Security –the Bank’s Perspective: A bank has little to lose and much to gain by taking security for a loan. A bank’s solicitor should check that the borrower and any other party providing security have capacity to do so. (The company act 1989, prima facie, a company could pursue only the objects for which its memorandum stated it was incorporated) 6. Security – the Borrower’s Perspective: It is often difficult for a borrower to argue against a reasonable request for security. However, some borrowers will be contractually prohibited from providing security by a negative pledge in a document to which they are already a party. Specialised lending for financing a project will always be secured over the asset or project in question. (Adams D, 2006) 7. Cash Flow Statements for Small Companies: Financial Report Standard (FRS1) prescribes a format for cash flow statements. Except for very small companies, all companies are required to prepare a cash flow statement for each accounting period. There are two approaches available under the standard; the direct method which shows the operating cash receipts and payments summing to the net cash flow from operating activities, and the indirect method which identifies the net cash flow via reconciliation to operating profit. (Wood F, 2002). CHAPTER 2 Literature Review 2.0 Introduction The purpose of this chapter is to make a review of related literature on Small and Medium isze Enterprises and the Creation of Credit in the Construction Industry. With these literatures the researcher will have a better understanding of the study, as well as what has already been done on it in the form of previous research. 2.2 Definition of Small and Medium Size Enterprises A business can be considered small on basis of predetermined criteria such as the number of employees, annual turnover or capital employed. In the late 1990s, it was estimated that small businesses with fewer than 50 employees accounted for 99 per cent of all UK business, almost 50 per cent of non government employment and 42 per cent of turnover. Small firms have become a focus for governmental policy at both national and intergovernmental level. Bolton in his report in 1971 identified three main characteristics of a small firm: were independently owned The business securities are not quoted in any established capital market that is they are not traded in the efficient market. were managed in a personalised way- The ownership of the business’s equity and hence its control lie in the hands of a small close knit-group; that is it is a family type business. possessed a limited share of the total market 2.3 Nature of Small and Medium Size Enterprises The Bolton report, the first official government inquiry into small firms attempted to establish standard definitions of small firms for particular sector of industry based on numerical indicators of size such as sales or number of employees. A firm with 250 employees in a labour intensive industry may still be a small firm. (Brown, 1987) Criteria for Small and Medium Size Enterprises Size Category Number of Employees Maximum Annual Turnover (euros) Maximum Balance balance sheet total Micro Firm 0 -9 2 million euros 2 million Small Firm 10 – 49 10 million euros 10 million Medium-sized Firm 50 – 249 50 million 43 million 2.4 Objectives of Small and Medium Size Enterprises In SME’s the managers and the shareholders are likely to be substantially the same person or at least closely connected with one another. Thus agency problems, and their potential associated costs, are likely to have little or possibly no impact on the typical small business. Because of the elimination of agency gap, most managers of SME’s are shareholder; they would make decisions following a pure wealth-maximising goal more determinedly than would be the case in the typical large enterprise. The motives of managers or owners of small businesses are diverse. These motives might be the desire to experience the satisfaction of building up a business, a desire to lead a particular way of life, or a desire to keep someone (perhaps family) tradition alive. Since it is possible for managers to know the personal objectives of shareholders of small business, decisions can probably be made with these in mind. Both large and small businesses that makes a series of decisions causing the wealth to diminish, will sooner or later fail. Wealth maximisation goal is very important to small business and cannot be ignored. 2.5 Organisation of Small and Medium Enterprises The research will consider Small and Medium Size Enterprises in the construction industries that are organised as private limited companies. According to Mclaney (2003) private companies need be of no minimum size; public companies must issue at least  £50,000 of nominal share capital, of which 25% must be paid up. There is no upper limit on the size of a private company. Private companies are entitled to restrict the transfer of their shares; that is it is possible for the company’s Articles of Association to contain a clause giving the directors the power to refuse to register a transfer, at their discretion. While private companies must publish annual accounts, the volume of details is rather less than that which the law requires of public companies. 2.6 Sources of Finance for Small and Medium Size Enterprises Several inquires have dealt with the financing of SMEs and each of these enquires discovered, to a greater extent, that small businesses find it more difficult and more expensive to raise external finance. A particular problem faced by small businesses in their quest for equity capital is the lack of an `exit route’. Generally investors require that there be some way of liquidating their investment before they are prepared to commit funds to it. A number of schemes have been introduced to help small businesses: 2.6.1. The loan Guarantee Scheme (LGS) as first introduced in 1981 to cover situations were potential borrowers were unable to provide sufficient collateral or where the bank deem the risk of lending unacceptable. 2.6.2. The Enterprise Investment Scheme (EIS) – This scheme replaced the Business Expansion Scheme (BES) and it is designed to help small unquoted companies to raise equity finance from business angels 2.6.3.The Venture Capital Trust (VCT) – The trust was introduced in 1995 to encourage individuals to invest in smaller, unlisted trading companies. Venture Capital is the name given to equity finance provided to support new, expanding and entrepreneurial businesses. Venture capitalists usually prefer to take a close interest in the business. This could involve taking part in decision made by the business. Funds provided by venture capitalist are often referred to as private capital.(Mclaney E, 2003) 2.6.4. The Enterprise Fund (EF) it was announced in the competitiveness white paper in 1998 and is designed to help the financing of small businesses with growth potential. 2.6.5. The National Business Angel Network (NBAN) it was launched in 1999 to connect ‘business angels’ with companies seeking equity capital 2.6.6. The late payment of Commercial Debts (Interest) act 1998 gives certain small businesses a statutory right to claim interest from large businesses and the public sector on late payment of commercial debts. 2.7 Gearing Small businesses are in a fundamentally different position from that of the larger one on the issue of gearing. Financial risk to which capital gearing gives rise tends to emphasise operating risk, which will be present with or without gearing. Small businesses are more exposed to financial risk than public liability companies.(Mclaney,2003) 2.8 Help and Advice to Small Businesses One of the major barriers faced by SMEs is the lack of information, help and advice on their operations. Recent initiative to improve this sphere includes: 2.8.1. The business link network – organised in 1993 as a ‘one stop shop’ for information and advice to SMEs. It brings together the services of major business development services in the single accessible location. 2.8.2. The Enterprise Zone – launched in 1997 as a definitive internet site for business information. It provides help on a whole range of business issues. 2.8.3. The Information Society Initiative/Interforum E-Commerce Award – launched in 1999 as part of government’s e-commerce strategy. It is essentially an award scheme to recognise and reward best practice in the use of electronic trading among smaller firms. 2.9 Bank and Institutional Debt Long term loans are available from banks and other financial institutions at both fixed and floating interest rates, provided the issuing bank is convinced that the purpose of the loan is a good one. The cost of bank loan is usually a floating rate of 3-6 percent above the base rate, depending on the perceived risk of the borrowing company. The issuing bank charges an arrangement fee on bank loans, which are usually secured by a fixed and floating charge, the nature of the charge depending on the availability of assets of good quality to act as security. A repayment schedule is often agreed between the bank and the borrowing company, structured to meet the specific needs of the borrower and in accordance with the lending policies of the bank. (Watson D Head A, 2007) 2.10 Security –the Bank’s Perspective A bank has little to lose and much to gain by taking security for a loan. A bank’s solicitor should check that the borrower and any other party providing security have capacity to do so. (The company act 1989, prima facie, a company could pursue only the objects for which its memorandum stated it was incorporated) 2.11 Security – the Borrower’s Perspective It is often difficult for a borrower to argue against a reasonable request for security. However, some borrowers will be contractually prohibited from providing security by a negative pledge in a document to which they are already a party. Specialised lending for financing a project will always be secured over the asset or project in question. (Adams D,2006) 2.12 Working Capital Problems of the Small Business Working capital is the difference between current assets over current liabilities. The amount invested by businesses in working capital is often high in proportion to the total assets employed. It is important that these amounts are managed properly. It is often claimed that many small businesses suffer from a lack of capital and, where this is the case, tight control over working capital investment becomes critical. There are evidence, however, that SB are not very good at managing their working capital, and this has been cited as the major cause of their high failure rate compared with that of large businesses. 2.13 Credit Management Small businesses don’t have the resources to manage their trade debtors (account receivables) effectively. Most small businesses don’t have a credit control department. Small business also lack proper debt collection procedures, such as prompt invoicing and sending out regular statements. These risks probably tend to increase where there is an excessive concern for growth. In an attempt to increase sales, small businesses may be too willing to extend credit to customers that are poor credit risk Lack of market power is another issue for small businesses. They find themselves in a weak position when negotiating credit terms with larger businesses. When big customer exceeds the terms of credit, the small supplier may feel inhibited from pressing the customer for payment in case future sales are lost. (A survey undertaken by the Credit Management Research Centre (CMRC) during April and June, 2003, indicates that small businesses are likely to have to wait an average of 60 days for their trade debtors to pay. 2.14 Cash Flow Statements for Small Companies Financial Report Standard (FRS1) prescribes a format for cash flow statements. Except for very small companies, all companies are required to prepare a cash flow statement for each accounting period. There are two approaches available under the standard; the direct method which shows the operating cash receipts and payments summing to the net cash flow from operating activities, and the indirect method which identifies the net cash flow via reconciliation to operating profit.(Wood F,2002) Credit Creation 2.15 Definition of Credit Creation The BNET business dictionary defines credit creation as the collective ability of lenders to make money available to borrowers. Credit creation is the multiple expansions of banks demand deposits. Banks advance a major portion of their deposits to the borrowers and keep smaller parts of deposits to customers on demand. The tendency on the part of commercial banks to expand their demand deposits as a multiple of their excess cash reserve is called creation of credit. 2.16 Functions of Financial Intermediation in Credit Creation Financial intermediation is the process of channelling funds between those who wish to lend or invest and those who wish to borrow or require investment funds. Financial intermediaries act as principal, creating new financial assets and liabilities. They do not act solely as agents, charging a commission for their services. (The Monetary and Financial System-CIB/BPP Publication 1993 Edition) Any institution standing between the ultimate provider of funds and the ultimate user of funds is engaged in financial intermediation. There are many types of institutions and other organisations that act as intermediaries in matching firms and individuals who need finance with those who wish to invest. These institutions also provide other services which are non-intermediary services like financial advisory services, fund management services and advice to undertakers and mergers provider by merchant banks. Some of the organisation that acts as financial intermediaries is as follows: 2.16.1 Clearing Banks – this bank participate in system which simplifies daily payment so that all the thousands of individual customer payments are reduced to a few transfers of credit between the banks. They offer various accounts to investors and provide large amount of short to medium-term loans to the business sector and the personal sector. The work of these institutions can best be understood through a consideration of the main items in their balance sheet. 2.16.2 Clearing Bank Liabilities – The money from the banks responsible comes chiefly from their customer’s sight and time deposits- mostly current and deposit accounts with which most people are familiar. An important additional item relates to certificates of deposit. These are issued generally for a medium amount of  £50,000 and a maximum of  £500,000 with an initial term to maturity of from three months to five years. Clearing Bank Assets Customers’ money is re-lent in a variety of ways. The main aim of the bank is to have a range of lending instruments of varying terms so that money can be recovered quickly and yet, at the same time, earn the maximum return. 2.16.3 Investment Banks / Merchant Banks The investment banks or Merchant banks have some functions that they undertake: 2.16.3.i Financial Advice to Business Firms Few manufacturing or commercial companies of any size can now afford to be without the advice of a merchant bank. Such advice is necessary in order to obtain investment capital, to invest surplus funds, to guard against takeover, or to take over others. Increasingly, the merchant banks have themselves become activity involved in the financial management of their business client and have had an influence over the direction these affairs have taken. 2.16.3.ii Providing Finance to Business Merchant banks also compete in the services of leasing, factoring, hire-purchase and general lending. They are also the gateway to the capital market for long-term funds because they are likely to have specified departments handling capital issues as ‘issuing houses’. 2.16.4 Foreign Trade A lot of merchant bank are active in the promotion of foreign trade by providing marine insurance, credits, and assistance in appointing foreign agents and arranging foreign payments. Merchant bank is essentially in the general business of creating wealth and of helping those who show that they are capable of successful business enterprise. It is expected that merchant banks will operate without the large branch network necessary for a clearing bank, they work closely with their clients and be more ready to take business risk and promote business enterprise than clearing bank. 2.16.5 Building Societies These take deposits from the household sector and lend to individuals buying their own homes. They have recently grown rapidly in the UK and now provide many of the services offered by clearing banks. Over the years many have converted to banks. 2.16.6 Finance Companies/Houses – Providing medium-term instalment credits to the business and personal sector. These are usually owned by business sector firms or by other financial itermediaries. 2.17 Services Provided by Financial Institutions Financial institutions are organisations that provide services in connection with one or more of the following:- Financial intermediation, linking ultimate providers of funds with ultimate users and creating new financial assets in the process. Exchanging financial assets on behalf of their customers, that is acting as brokers or agents for clients. Exchanging financial assets for their own accounts proprietary dealers, as they are termed. Helping to create financial assets for their customers, and then selling these assets to others in the market underwriting new share issues, for example Providing investment advice to others, example to people seeking a personal pension or to firms on mergers and takeovers. Fund management- managing the whole or part of a pension fund, for example some large non-financial companies have their own financial subsidiaries. In the United Kingdom Ford Motor Finance and Mark and Spencer Finance Se Development of Credit Facilities in Sierra Leone Development of Credit Facilities in Sierra Leone Chapter 1 This study is on the creation of credit facilities to Small and Medium Size Enterprises in Sierra Leone with special focus on the construction industries. 1.1 Background to the Economy of Sierra Leone Sierra Leone is a relatively small country, on the West Coast of Africa with an area of approximately 28,000square miles. The estimated population is 5.5 million inhabitants, 30% of whom resides in the western area of the country according to recent census in 2006. The state of the country’s economy, immediately after independence from the British Colony in 1961 up to the 1970’s, was quite satisfactory in terms of performance. The exchange rate between the Leone and other foreign currencies was relatively good. More so, the British Pound Sterling was exchanged at One pound ( £1) to One Leone (Le1). The inflation rate was extremely low. The country’s earnings from exports were very much attractive, with Diamond export accounting for well over 50% of the country’s foreign exchange earnings. This was closely followed by cash crop exports such as Cocoa, coffee, oil palm, piassava and chillies. The country’s external debt position at this time was not high, Between 1972 to 1975, the economy started experiencing down turn that was mainly due to external factors, such as the famous oil price shock in 1973. Naturally, the 1980 Organisation of Africa Unity (OAU) summit that was hosted by the government of Sierra Leone fuelled the debt crisis in Sierra Leone. Because of the foreign exchange scarcity in the country, the credit agreement between domestic importers and their business partners aboard collapsed. In 1988, the country was forced to devalue her currency. Between 1992 and 1994, Sierra Leone successfully implemented an adjustment program supported by the International Monetary Fund (IMF) under the Right Accumulation Program (RAP). The World Bank also supported the program through the Reconstruction of Import Credit (RIC) in 1992 and the Structural Adjustment Credit (SAC) in 1993. Following the successful implementation of the RAP, the IMF approved a three year arrangement support under Enhanced Structural Adjustment Facility (ESAF). The implementation of the first annual program was disrupted by the escalation of the rebel activities in 1995. With the return of democracy in 1996, the IMF supported the economic recovery program adopted by the new Government with a second annual program under the ESAF. Poverty intensified with real per capita declining to US$142 in 2000. Since then Sierra Leone has been classified as the poorest country in the world and ranks at the bottom of the United Nations Development Programme (UNDP) Human Development Index. The growth in the economy has been underpinned by broad recovery in Agriculture, mining, manufacturing, construction and the service sector. The economy of the Country continues to worsen in early 1992 when the civil unrest started which causes untold sufferings on humans and the entire country. Many people were forced out of their houses and eventually became displaced persons and refugees in their own country and neighbouring country like Guinea, The Gambia and Ghana. Almost all segments of the business economy collapsed including banking and lending institutions. It was then the problems of growth in economy worsen and every thing completely deteriorated and collapsed. The almost 11 years of civil unrest ended in March 2002. The end of the war actually opens the door for a new beginning, for new economic growth and prosperity in the face of peace and unity. The situation has recently worsened because of the credit crunch faced by many of the world famous banking institutions and Sierra Leone has not been any exceptions. The effect coupled with other factors has created more gaps for banking institutions to provide loans to small and medium enterprises. In a press release from Prlog Dec. 15, 2008 by Robin Trehan as quoted â€Å"SMEs represent over ninety-nine percent of the country’s employers. While it is essential that these businesses obtain the necessary funding to remain active, they are often the first to suffer when financial crisis hits. Banks already facing financial hardship often deem SMEs as too risky to finance. Credit terms are becoming increasingly harder and qualifying for financing is subject to much stricter guidelines. The re are things that SMEs can do, however, to increase their chances of finding financing†. 1.2 Statement of the Problem The term credit in this thesis refers to an amount or sum placed at a person’s disposal by a bank and usually to be repaid with interest within a given period of time. Small and Medium Size Enterprises (SME) is very important in terms of the dynamic role in the development of the private sector in Sierra Leone. The SME’s are regarded as an engine for any economic growth and development in any country. They provide opportunities for job creation and expansion in the physical reconstruction of the economy especially for a post war development country like Sierra Leone. Majority of the physical infrastructures ranging from housing, office buildings and business structures were all destroyed during the civil unrest. These structures need to be reconstructed for the economy to grow and become prosper. Today many construction companies or firms have emerged to assist in the rehabilitation and reconstruction. While there may be some of the construction companies who have existed of years, it is also true that majority of these construction companies are new ones who are just coming up to help and provide their expertise in the development of Sierra Leone. But yet still, it is a challenge for many of these companies to adequately involve in the process of rehabilitation and reconstruction simply because they cannot get the required finance in the form of overdraft or loans, or provide the necessary collateral for the banks as required, making them less competitive. In Sierra Leone the performance of SME’s over the years has been very poor which is due to the fact that the creation of credit from the banks which is an essential stimulant for private investment in the construction industries has been grossly under performing. This is one of the reasons for poor performance of the economy in terms of growth in most developing countries including Sierra Leone. Construction companies have not been able to access huge funds by way of loan over the years from the banking and other financial institutions, mainly due to lack of confidence in the private sector as a result of problems like moral hazards and the absence of collateral security and the lack of experience in construction engineering. 1.3 Justification of the Study The importance of the construction industries in the process of rehabilitation and reconstruction of the war towns in Sierra Leone cannot be over-emphasized. During the war there was so much destruction of infrastructures in the country, now that there is peace there is high need for reconstructions and the development of new roads and structures to aid national growth. International organisations like the International Monetary Fund (IMF), World Bank, African Development Bank (ADB) main focus is to assist Small Medium Size Enterprises (SME) in developing countries gain strong financial base. It had been felt that SMEs employ majority of the work force in the developing countries, therefore, they have realised that when SME become financially stable the economy of the nation will be better and that the citizens will be able to live a comfortable life. The role of commercial banks and other financial institutions in private sector development and the assessment of their overall performance in terms of economic growth and development has not received much of the attention by researchers. The central bank maintaining interest rate at high level has greatly contributed to discourage SMEs from borrowing from retail banks and other financial institution for investment purposes. This is one of the reasons why most SMEs are under developed. Besides commercial banks are requesting for very stiff conditions to access loan by the private sector. A study on the provision of credit to construction companies for investment towards economic growth has not been studied in greater detail by previous researchers. This among others, gave me the urge to probe into the activities of the commercial banks and other financial institutions in the creation of credit to construction companies in Sierra Leone, This study is to help government and other professionals as well as other stakeholders, to grasp fully the implications of credit refusal to small and medium size enterprises and how it will affect the development of the nation. The result of this study is hope to enable banking and other financial institutions, local and national government and other stakeholders to device concrete ways by which small and medium size enterprises can easily get access to credit to undertake construction programmes. 1.4 Objectives of the study The main aim of the study is to assess the implications of credit creations by the banks and other financial institutions to Small and Medium Size Enterprises with special focus on the Construction Industries for economic growth and development in Sierra Leone. The specific objectives are: To determine the extent to which banks have been contributing to the development of the construction industries in Sierra Leone. To examine some of the reasons responsible for the inability of the construction industries to solicit loans from the banks and other financial institutions for the purpose of investment. To establish reasons for the reluctance of the banking and other financial institutions to provide the much needed funds for private sector development. To examine the reasons for the reluctance of the banking sector to provide the much needed funds for SME in the construction industries for development, even though SME’s are regarded as the engine of economic growth. 1.5 Research Questions: Certain research questions will be drawn up for proper examination of this objective. These include: To what extent do commercial banks provide funds to Small and Medium Size Enterprises in the construction Industries? What are the main problems encountered by the construction companies in terms of securing loans and overdrafts from the commercial banks? What is responsible for the low investment of the private sector (SME’s) in Sierra Leone? What is the role of the central bank in facilitating credit creation for SME’s in the pursuit of development in Sierra Leone? What is the role of the Government ministry in the area of infrastructural developmental plans for Sierra Leone? The study will make use of secondary data received from the Bank of Sierra Leone, Commercial Banks and some of the registered construction companies in Sierra Leone. The study will try to reveal the reasons for the constraints Small and Medium size Enterprises are facing in securing credit facilities from the banks. Interviews will be conducted with senior officers of both the banking industries and construction sectors, together with government officers in the area of national development for the country. 1.6 Definition of Operational Terms: 1. Credit Creation: Credit creation is the multiple expansions of banks demand deposits. It is an open secret now that banks advance a major portion of their deposits to the borrowers and keep smaller parts of deposits to the customers on demand. 2. Venture Capital: Venture Capital is the name given to equity finance provided to support new, expanding and entrepreneurial businesses. Venture capitalists usually prefer to take a close interest in the business that is the subject of their investment. This could involve taking part in decision made by the business. Funds provided by venture capitalist are often referred to as private capital.(Mclaney E, 2003) 3. Gearing: Small businesses are in a fundamentally different position from that of the larger one on the issue of gearing. Financial risk to which capital gearing gives rise tends to emphasise operating risk, which will be present with or without gearing. Small businesses are more exposed to financial risk than public liability companies. (Mclaney, 2003) 4. Bank and Institutional Debt: Long term loans are available from banks and other financial institutions at both fixed and floating interest rates, provided the issuing bank is convinced that the purpose of the loan is a good one. The cost of bank loan is usually a floating rate of 3-6 percent above the base rate, depending on the perceived risk of the borrowing company. The issuing bank charges an arrangement fee on bank loans, which are usually secured by a fixed and floating charge, the nature of the charge depending on the availability of assets of good quality to act as security. A repayment schedule is often agreed between the bank and the borrowing company, structured to meet the specific needs of the borrower and in accordance with the lending policies of the bank. (Watson D Head A, 2007) 5. Security –the Bank’s Perspective: A bank has little to lose and much to gain by taking security for a loan. A bank’s solicitor should check that the borrower and any other party providing security have capacity to do so. (The company act 1989, prima facie, a company could pursue only the objects for which its memorandum stated it was incorporated) 6. Security – the Borrower’s Perspective: It is often difficult for a borrower to argue against a reasonable request for security. However, some borrowers will be contractually prohibited from providing security by a negative pledge in a document to which they are already a party. Specialised lending for financing a project will always be secured over the asset or project in question. (Adams D, 2006) 7. Cash Flow Statements for Small Companies: Financial Report Standard (FRS1) prescribes a format for cash flow statements. Except for very small companies, all companies are required to prepare a cash flow statement for each accounting period. There are two approaches available under the standard; the direct method which shows the operating cash receipts and payments summing to the net cash flow from operating activities, and the indirect method which identifies the net cash flow via reconciliation to operating profit. (Wood F, 2002). CHAPTER 2 Literature Review 2.0 Introduction The purpose of this chapter is to make a review of related literature on Small and Medium isze Enterprises and the Creation of Credit in the Construction Industry. With these literatures the researcher will have a better understanding of the study, as well as what has already been done on it in the form of previous research. 2.2 Definition of Small and Medium Size Enterprises A business can be considered small on basis of predetermined criteria such as the number of employees, annual turnover or capital employed. In the late 1990s, it was estimated that small businesses with fewer than 50 employees accounted for 99 per cent of all UK business, almost 50 per cent of non government employment and 42 per cent of turnover. Small firms have become a focus for governmental policy at both national and intergovernmental level. Bolton in his report in 1971 identified three main characteristics of a small firm: were independently owned The business securities are not quoted in any established capital market that is they are not traded in the efficient market. were managed in a personalised way- The ownership of the business’s equity and hence its control lie in the hands of a small close knit-group; that is it is a family type business. possessed a limited share of the total market 2.3 Nature of Small and Medium Size Enterprises The Bolton report, the first official government inquiry into small firms attempted to establish standard definitions of small firms for particular sector of industry based on numerical indicators of size such as sales or number of employees. A firm with 250 employees in a labour intensive industry may still be a small firm. (Brown, 1987) Criteria for Small and Medium Size Enterprises Size Category Number of Employees Maximum Annual Turnover (euros) Maximum Balance balance sheet total Micro Firm 0 -9 2 million euros 2 million Small Firm 10 – 49 10 million euros 10 million Medium-sized Firm 50 – 249 50 million 43 million 2.4 Objectives of Small and Medium Size Enterprises In SME’s the managers and the shareholders are likely to be substantially the same person or at least closely connected with one another. Thus agency problems, and their potential associated costs, are likely to have little or possibly no impact on the typical small business. Because of the elimination of agency gap, most managers of SME’s are shareholder; they would make decisions following a pure wealth-maximising goal more determinedly than would be the case in the typical large enterprise. The motives of managers or owners of small businesses are diverse. These motives might be the desire to experience the satisfaction of building up a business, a desire to lead a particular way of life, or a desire to keep someone (perhaps family) tradition alive. Since it is possible for managers to know the personal objectives of shareholders of small business, decisions can probably be made with these in mind. Both large and small businesses that makes a series of decisions causing the wealth to diminish, will sooner or later fail. Wealth maximisation goal is very important to small business and cannot be ignored. 2.5 Organisation of Small and Medium Enterprises The research will consider Small and Medium Size Enterprises in the construction industries that are organised as private limited companies. According to Mclaney (2003) private companies need be of no minimum size; public companies must issue at least  £50,000 of nominal share capital, of which 25% must be paid up. There is no upper limit on the size of a private company. Private companies are entitled to restrict the transfer of their shares; that is it is possible for the company’s Articles of Association to contain a clause giving the directors the power to refuse to register a transfer, at their discretion. While private companies must publish annual accounts, the volume of details is rather less than that which the law requires of public companies. 2.6 Sources of Finance for Small and Medium Size Enterprises Several inquires have dealt with the financing of SMEs and each of these enquires discovered, to a greater extent, that small businesses find it more difficult and more expensive to raise external finance. A particular problem faced by small businesses in their quest for equity capital is the lack of an `exit route’. Generally investors require that there be some way of liquidating their investment before they are prepared to commit funds to it. A number of schemes have been introduced to help small businesses: 2.6.1. The loan Guarantee Scheme (LGS) as first introduced in 1981 to cover situations were potential borrowers were unable to provide sufficient collateral or where the bank deem the risk of lending unacceptable. 2.6.2. The Enterprise Investment Scheme (EIS) – This scheme replaced the Business Expansion Scheme (BES) and it is designed to help small unquoted companies to raise equity finance from business angels 2.6.3.The Venture Capital Trust (VCT) – The trust was introduced in 1995 to encourage individuals to invest in smaller, unlisted trading companies. Venture Capital is the name given to equity finance provided to support new, expanding and entrepreneurial businesses. Venture capitalists usually prefer to take a close interest in the business. This could involve taking part in decision made by the business. Funds provided by venture capitalist are often referred to as private capital.(Mclaney E, 2003) 2.6.4. The Enterprise Fund (EF) it was announced in the competitiveness white paper in 1998 and is designed to help the financing of small businesses with growth potential. 2.6.5. The National Business Angel Network (NBAN) it was launched in 1999 to connect ‘business angels’ with companies seeking equity capital 2.6.6. The late payment of Commercial Debts (Interest) act 1998 gives certain small businesses a statutory right to claim interest from large businesses and the public sector on late payment of commercial debts. 2.7 Gearing Small businesses are in a fundamentally different position from that of the larger one on the issue of gearing. Financial risk to which capital gearing gives rise tends to emphasise operating risk, which will be present with or without gearing. Small businesses are more exposed to financial risk than public liability companies.(Mclaney,2003) 2.8 Help and Advice to Small Businesses One of the major barriers faced by SMEs is the lack of information, help and advice on their operations. Recent initiative to improve this sphere includes: 2.8.1. The business link network – organised in 1993 as a ‘one stop shop’ for information and advice to SMEs. It brings together the services of major business development services in the single accessible location. 2.8.2. The Enterprise Zone – launched in 1997 as a definitive internet site for business information. It provides help on a whole range of business issues. 2.8.3. The Information Society Initiative/Interforum E-Commerce Award – launched in 1999 as part of government’s e-commerce strategy. It is essentially an award scheme to recognise and reward best practice in the use of electronic trading among smaller firms. 2.9 Bank and Institutional Debt Long term loans are available from banks and other financial institutions at both fixed and floating interest rates, provided the issuing bank is convinced that the purpose of the loan is a good one. The cost of bank loan is usually a floating rate of 3-6 percent above the base rate, depending on the perceived risk of the borrowing company. The issuing bank charges an arrangement fee on bank loans, which are usually secured by a fixed and floating charge, the nature of the charge depending on the availability of assets of good quality to act as security. A repayment schedule is often agreed between the bank and the borrowing company, structured to meet the specific needs of the borrower and in accordance with the lending policies of the bank. (Watson D Head A, 2007) 2.10 Security –the Bank’s Perspective A bank has little to lose and much to gain by taking security for a loan. A bank’s solicitor should check that the borrower and any other party providing security have capacity to do so. (The company act 1989, prima facie, a company could pursue only the objects for which its memorandum stated it was incorporated) 2.11 Security – the Borrower’s Perspective It is often difficult for a borrower to argue against a reasonable request for security. However, some borrowers will be contractually prohibited from providing security by a negative pledge in a document to which they are already a party. Specialised lending for financing a project will always be secured over the asset or project in question. (Adams D,2006) 2.12 Working Capital Problems of the Small Business Working capital is the difference between current assets over current liabilities. The amount invested by businesses in working capital is often high in proportion to the total assets employed. It is important that these amounts are managed properly. It is often claimed that many small businesses suffer from a lack of capital and, where this is the case, tight control over working capital investment becomes critical. There are evidence, however, that SB are not very good at managing their working capital, and this has been cited as the major cause of their high failure rate compared with that of large businesses. 2.13 Credit Management Small businesses don’t have the resources to manage their trade debtors (account receivables) effectively. Most small businesses don’t have a credit control department. Small business also lack proper debt collection procedures, such as prompt invoicing and sending out regular statements. These risks probably tend to increase where there is an excessive concern for growth. In an attempt to increase sales, small businesses may be too willing to extend credit to customers that are poor credit risk Lack of market power is another issue for small businesses. They find themselves in a weak position when negotiating credit terms with larger businesses. When big customer exceeds the terms of credit, the small supplier may feel inhibited from pressing the customer for payment in case future sales are lost. (A survey undertaken by the Credit Management Research Centre (CMRC) during April and June, 2003, indicates that small businesses are likely to have to wait an average of 60 days for their trade debtors to pay. 2.14 Cash Flow Statements for Small Companies Financial Report Standard (FRS1) prescribes a format for cash flow statements. Except for very small companies, all companies are required to prepare a cash flow statement for each accounting period. There are two approaches available under the standard; the direct method which shows the operating cash receipts and payments summing to the net cash flow from operating activities, and the indirect method which identifies the net cash flow via reconciliation to operating profit.(Wood F,2002) Credit Creation 2.15 Definition of Credit Creation The BNET business dictionary defines credit creation as the collective ability of lenders to make money available to borrowers. Credit creation is the multiple expansions of banks demand deposits. Banks advance a major portion of their deposits to the borrowers and keep smaller parts of deposits to customers on demand. The tendency on the part of commercial banks to expand their demand deposits as a multiple of their excess cash reserve is called creation of credit. 2.16 Functions of Financial Intermediation in Credit Creation Financial intermediation is the process of channelling funds between those who wish to lend or invest and those who wish to borrow or require investment funds. Financial intermediaries act as principal, creating new financial assets and liabilities. They do not act solely as agents, charging a commission for their services. (The Monetary and Financial System-CIB/BPP Publication 1993 Edition) Any institution standing between the ultimate provider of funds and the ultimate user of funds is engaged in financial intermediation. There are many types of institutions and other organisations that act as intermediaries in matching firms and individuals who need finance with those who wish to invest. These institutions also provide other services which are non-intermediary services like financial advisory services, fund management services and advice to undertakers and mergers provider by merchant banks. Some of the organisation that acts as financial intermediaries is as follows: 2.16.1 Clearing Banks – this bank participate in system which simplifies daily payment so that all the thousands of individual customer payments are reduced to a few transfers of credit between the banks. They offer various accounts to investors and provide large amount of short to medium-term loans to the business sector and the personal sector. The work of these institutions can best be understood through a consideration of the main items in their balance sheet. 2.16.2 Clearing Bank Liabilities – The money from the banks responsible comes chiefly from their customer’s sight and time deposits- mostly current and deposit accounts with which most people are familiar. An important additional item relates to certificates of deposit. These are issued generally for a medium amount of  £50,000 and a maximum of  £500,000 with an initial term to maturity of from three months to five years. Clearing Bank Assets Customers’ money is re-lent in a variety of ways. The main aim of the bank is to have a range of lending instruments of varying terms so that money can be recovered quickly and yet, at the same time, earn the maximum return. 2.16.3 Investment Banks / Merchant Banks The investment banks or Merchant banks have some functions that they undertake: 2.16.3.i Financial Advice to Business Firms Few manufacturing or commercial companies of any size can now afford to be without the advice of a merchant bank. Such advice is necessary in order to obtain investment capital, to invest surplus funds, to guard against takeover, or to take over others. Increasingly, the merchant banks have themselves become activity involved in the financial management of their business client and have had an influence over the direction these affairs have taken. 2.16.3.ii Providing Finance to Business Merchant banks also compete in the services of leasing, factoring, hire-purchase and general lending. They are also the gateway to the capital market for long-term funds because they are likely to have specified departments handling capital issues as ‘issuing houses’. 2.16.4 Foreign Trade A lot of merchant bank are active in the promotion of foreign trade by providing marine insurance, credits, and assistance in appointing foreign agents and arranging foreign payments. Merchant bank is essentially in the general business of creating wealth and of helping those who show that they are capable of successful business enterprise. It is expected that merchant banks will operate without the large branch network necessary for a clearing bank, they work closely with their clients and be more ready to take business risk and promote business enterprise than clearing bank. 2.16.5 Building Societies These take deposits from the household sector and lend to individuals buying their own homes. They have recently grown rapidly in the UK and now provide many of the services offered by clearing banks. Over the years many have converted to banks. 2.16.6 Finance Companies/Houses – Providing medium-term instalment credits to the business and personal sector. These are usually owned by business sector firms or by other financial itermediaries. 2.17 Services Provided by Financial Institutions Financial institutions are organisations that provide services in connection with one or more of the following:- Financial intermediation, linking ultimate providers of funds with ultimate users and creating new financial assets in the process. Exchanging financial assets on behalf of their customers, that is acting as brokers or agents for clients. Exchanging financial assets for their own accounts proprietary dealers, as they are termed. Helping to create financial assets for their customers, and then selling these assets to others in the market underwriting new share issues, for example Providing investment advice to others, example to people seeking a personal pension or to firms on mergers and takeovers. Fund management- managing the whole or part of a pension fund, for example some large non-financial companies have their own financial subsidiaries. In the United Kingdom Ford Motor Finance and Mark and Spencer Finance Se

Sonnets: The Power of Love Essay -- Sonnet essays

Sonnets:   The Power of Love  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The majority of Elizabethan sonnets reflect two major themes: time and love. William Shakespeare, too, followed this convention, producing 154 sonnets, many of which deal with the usual theme of love. Because the concept of love is in itself so immense, Shakespeare found several ways to capture the essence of his passion. Therefore, in his poetry he explored various methods and used them to describe the emotions associated with his love for a mysterious "dark lady." These various ideas and views resulted in a series of sonnets that vibrantly depicts his feelings of true, undying love for his lady. Instead of making the topic less interesting, as some might expect, Shakespeare's myriad approaches serve to further the reader's knowledge about the sheer power of true love. Three of Shakespeare's methods that show his ability in this respect are the motif of dreams and thoughts, the examples of the extent of love, and Shakespeare's desire for his sonnets to aid or glorify their love. In many of Shakespeare's sonnets, he frequently mentions the continuous presence of a special lady in his dreams and thoughts. For example, in Sonnet 27, Shakespeare writes about the fact that he is never without his love. This is because during the day he worships her at sight, and at night she invades his dreams. He cannot sleep without her coming, unbidden, into his mind: "Lo, thus by day my limbs, by night my mind/ For thee, and for myself, no quiet find." Contrary to this thought, however, his constant musings of his lady are also a blessing to him. In Sonnet 29, Shakespeare, depressed and envious of others, thinks of his love: "Yet, in these thoughts myself almost despising,/ Haply I think on thee, a... ...that time I do ensconce me here/ Within the knowledge of mine own desert." If he should ever have to live without her, his sonnets will remind him of the love that once was. Shakespeare's sonnets are a romantic and charming series of poems. His use of rhyme and passionate, eloquent language serve to illuminate his strong feelings. These techniques were probably the most fluent way for such a writer as him to express the immeasurable love that he obviously felt for his mysterious lady. Examining the numerous ways Shakespeare found to describe it, the reader believes that this love was undoubtedly lasting and authentic. He often made heart-felt comments about his emotions that could also suit lovers in the present day. Because of this, and the fact that people read them yet, Shakespeare's sonnets are timeless and universal, just like the concept of love itself.

SCE&G: Relevant and Non-Relevant Costs

South Carolina Electric and Gas (SCE&G), a principal subsidiary of SCANA Corporation, makes life convenient by bringing electricity and natural gas to homes and businesses. The company also provides residential, commercial, and industrial builder service firms the energy they need for construction (www.sceg.com). The company also has telecommunications services and other businesses which involve non-regulated energy. To supply electricity and natural gas, SCE&G operates 22 various plants, most of which are coal plants. Today, SCE&G serves nearly 1 million customers in South Carolina (â€Å"SCE&G Quick Facts†).The coal plants of SCE&G emit nitrogen oxide. Also known as NOx, this is one of the compounds that form smog in the atmosphere. Thus, the company has been making efforts to lower the emission of NOx. Just recently, SCE&G has installed the selective catalytic reduction (SCR) equipment on Wateree Station and Williams Station, the two largest plants of the company to reduce NOx emission. This has cost them $138 million (www.sceg.com). The company has also invested 80 million dollars on equipment for emission and pollution control (Zaleski, 2007).In 2008, the firm has decided to install the SCR equipment on the Cope Station as well. The project, which started on the summer of 2007 and will end on the fall of 2008, will cost the company 69 million dollars (Zaleski, 2007). This amount includes relevant costs (i.e., costs that are significant to a specific decision) such as the cost of the equipment and the cost of installation (CITATION).The previously mentioned expenditures prior to the Cope Station project–the investment on SCR equipment and on the emission and pollution control equipment—are considered sunk costs. Whether SCE&G would push through with the Cope project or not, the costs of these equipments have already been incurred. Hence, they are irrelevant to the project.SCE&G reported in its statement of projected expenditure that the budget for the Cope Station project was $ 26 million (â€Å"SCANA Corp. 2007-2009 Projection Expenditure,† 2007). Since the investment would cost $ 69 million, it would result in a budget deficit of $ 43 million. This implies that the company had to make budget adjustments in order to fund the said project.When the project is complete, it would surely result in â€Å"clean, safe, and reliable power source for [the] citizens and industries† (Zaleski, 2007). Although it would not bring the company explicit financial benefits, by making the plant environment-friendly, the project can further contribute to the healthy relationship of SCE&G with its neighboring communities. Moreover, this may â€Å"attract new industries [to invest] in [the] area† as the environment becomes free of the polluting NOx (Zaleski, 2007).ReferenceAbout SE&G.. (n.d.). Retrieved January 26, 2008 from http://www.sceg.com/en/about-sceg/Builder services. (n.d.). Retrieved January 26, 2008 from http://www.sceg.com/en/builder servicesNitrogen oxides. (n.d.). Retrieved January 26, 2008 fromhttp://www.sceg.com/en/my-community/environment/air/nitrogen-oxides/Residential services. (n.d.). Retrieved January 26, 2008 fromhttp://www.sceg.com/en/residential-services/SCANA Corporation 2007-2009 projections for capital expenditures and cash flows. (9February 2007). Retrieved January 26, 2008 fromhttp://www.secinfo.com/dN11u.u3.c.htmSCE&G quickfacts. (n.d.). Retrieved January 26, 2008Zaleski, G.. (6 November 2007). SCE&G investing $69 million in Cope plan to reduceemissions. The Times and Democrat. Retrieved January 26, 2008 fromhttp://www.thetandd.com/articles/2007/11/06/news/12812156.txt

Impact Of Attitude And Information

Abstraction: This survey investigated the effects of pupils ‘ attitude, instruction and larning methodological analysis on accomplishment in mathematical geometric building. The survey was carried out as a consequence of uninterrupted hapless public presentation in geometric building in Senior Secondary Schools, a 3 twelvemonth progressive educational plan in Nigeria. A purpose sample comprised of 35 Male and 27 Female pupils from two integral categories of different private secondary schools in the Lagos Mainland Local Government Area of Lagos State was used for the survey. A 28 ( 28 ) – point questionnaire titled, â€Å" Survey of Attitude to Mathematicss † ( SAM ) , to happen out the pupils ‘ attitude to mathematics by and large and geometric building in peculiar, and A 3- point word- job type, teacher made Mathematics Achievement Test in Geometric Construction ( MATGC ) instruments were used to carry on the survey. An experimental group was taught utiliz ing computing machine and based on constructivist theory of larning for a period of 12 contact hours over a period of 4 hebdomads. The responses of the questionnaires were subjected to descriptive analyses while the MATGC tonss were subjected to t-test, Pearson correlativity coefficient and arrested development analysis. Consequences revealed that attitude appeared to play a minimum function in accomplishment of geometric building in mathematics. In malice of divergent earlier findings on impact of instructional methodological analysis on accomplishment and attitude, this survey revealed the constructivist attack as a better attack in learning as it had a positive impact on accomplishment and attitude towards the subject. The survey farther revealed that male pupils performed better than female pupils. Deduction of all these findings calls for reappraisal of mathematics curriculum by inclusion of Assisted Delivery Method in learning geometric building in schools. A farther survey is recommended for rural and public school scenes as against the urban and private school scenes. It is besides recommended that an ADM attack be applied to other countries of mathematics where pupils perform ill. Keywords: Attitude, Computer, Constructivist TheoryIntroductionEducation, such a critical force and major participant in a state ‘s economic system, liberates the head and opens up broad chance to whoever acquires it. An educated people can utilize available technological developments to his/her advantage. Today the power of a state is determined non by its portion size of economic wealth but by its technological art. â€Å" The distinction, safety, and wellbeing of states have been entwined for centuries with the ability of their people to cover with sophisticated quantitative thoughts. Leading societies have commanded strong mathematical accomplishments to maintain them on the taking border in scientific discipline, medical specialty, and engineering ( National Mathematics Advisory Panel. Foundations for Success, 2008 ) . Despite the fact that some people do n't hold much preference for mathematics and see it as an highly hard topic, it is a necessity in all aspects of society. Two chief grounds for troubles of larning mathematics are the abstract construction of mathematics and instructors ‘ attempts to do pupils memorise the capable alternatively of assisting them internalise mathematical cognition ( Summers, 2006 ) . In add-on, math learning methods may hold a positive impact on pupils ‘ apprehension and public presentation in this capable country. Information Communication Technology ( ICT ) an country that has pervaded every aspect of human life with the command of computing machine applications giving a competitory border to persons in the school every bit good as occupation markets. ICT can be used to leverage instructional methods in the schools. Harmonizing to Chung ( 2004 ) who noted that mmethods of learning mathematics are founded upon and straight affected by the pedagogue ‘s probes of larning. Teachers must look into and utilize best instruction patterns to impact pupil larning. Computer-based instructions will no uncertainty be a utile method to present mathematical constructs most particularly those viewed as hard subjects. Performance is a map of attitude and ability. To get accomplishments, be it cognitive, affectional or otherwise one must be mentally and emotionally prepared. A incorrect attitude could turn a superb pupil who is capable of doing As into an mean pupils who achieves merely Bs and Cs. Despite the fact that mathematics is a nucleus capable taught at both the Junior and Senior Secondary degrees of Education in Nigeria, pupils continue to execute ill in this topic ( NPE, 2004 ) ; a topic described as the ‘queen of the scientific disciplines ‘ by the celebrated German mathematician Carl Friedrich Gauss. The Chief Examiners ‘ studies ( Nigeria ) of the West African Senior School Certificate Examination all said that pupil ‘s public presentation in mathematics continues to be hapless, but laid accent on geometric building as one of the countries where pupils performed ill ( May/June 1998, Nov/Dec 1998, Nov/Dec 2003 and Nov/Dec 2004, Table 1. ) . Reasons for this amongst others were attributed to: Poor appreciation of the inside informations needed for replying inquiries Insufficient borings and tutorials from instructors and deficiency of sufficient single assignments and undertaking The suggestions made for betterment were: Students should organize survey groups and exchange thoughts Students ‘ cognition of the basicss of English Language should be improved More drills and tutorials should be given by instructors. Sufficient single assignment and undertaking should be used to prosecute pupils. Year Campaigners ‘ Strengths Campaigners ‘ Failing May/June 1998 Logarithm Linear Equations Statisticss Linear EquationsGeometric buildingTrigonometry Coincident Equations Set Theory Nov/Dec 1998 Logarithm Statisticss Set TheoryGeometric buildingBearings Trigonometry Nov/Dec 2003 Statisticss Number bases Longitude and LatitudeGeometric buildingWord job on Inequalities Bearings Nov/Dec 2004 Probability Commercial Arithmetic Linear Equation Explicating Algebraic Expression Geometric Construction Bearings Set Theory Use of Four Figure tabular array â€Å" Table 1 † : Performance in subjects examined at the SSCE Examination The issues raised above and the fact that good cognition of geometric buildings ( The mathematics of the belongingss, measuring, and relationships of points, lines, angles, surfaces, and solids ) are of import foundations for pupils who will wish to foster their instruction in such countries as mathematics, technology, natural philosophies and other subjects under Science and Technology ( S & A ; T ) – an country of Education the Federal Government of Nigeria is passionate about its function in national development. These are what necessitated this survey.Purpose of the surveyThe intent of this survey was to: Investigate possible differences between the impact of traditional method of learning geometric building and the aided find method Show the importance of appropriate methodological analysis in teaching/learning, particularly in Mathematics. Look for any relationships between public presentation and instructional methods Investigate whether attitude and methodological analysis impact pupils ‘ public presentation in mathematical geometric building Suggest ways that can be used, to guarantee betterment in instruction of geometric building in mathematics.MethodologyResearch inquiriesDepartment of energies attitude play a function in accomplishment in geometric building in mathematics? What are the impacts of the traditional method of instruction and the aided find method on pupils ‘ accomplishment in mathematics geometric building? Does Gender hold any function in accomplishment in geometric building in mathematics?Research HypothesissStudents ‘ attitude will non significantly affect their accomplishment in geometric There is no statistically important difference between public presentation of computing machine and chalkboard groups There is no statistically important difference between male and female pupils in the combined dependant variables that make up the acquisition resultsDesign of the StudyThis survey made usage of both study and experimental designs, get downing with a study to find pupils ‘ attitude to mathematics by and large and geometric building in peculiar, followed by four hebdomads tutorials to two integral categoriesPopulation of the surveyThe population of the survey comprised the SS2 Students in Private Secondary Schools in Lagos State. ( Since Mathematics is compulsory )Sample and Sampling TechniquesThe sample size comprised of 62 pupils was used for the survey. These pupils were drawn from two indiscriminately selected Private Secondary Schools from a Local Government Area of Lagos State, one of the 36 provinces doing up Nigeria. The pupils were selected from integral SS2 categories in the schools comprising of 35 male and 27 female. There were 33 pupils from Science integral categor ies of one school and 29 pupils from Social Science integral categories ( Commercial ) of another school. The SS2 pupils in these schools had a pretest. The pretest books were graded out of 30marks. The average mark for a Social Science category was 9.45 while for the scientific discipline category it was 11.18. These agencies were used as benchmarks to sort the pupils into More Knowing Others ( MKO ) and Less Knowledgeable Others ( LKO ) . Any pupils hiting above the mean were classified as MKO while pupil hiting below the mean was classified as LKO. The scientific discipline category and societal scientific discipline categories were assigned as experimental and control group severally. The ground for this was that the schools where the scientific discipline sample was drawn had all the installations needed for computer-based instruction, such resources as computing machines, internet entree, changeless power supply, and a contributing research lab. Students could utilize the bundle at their free periods which afforded them the chance to make single farther work. The MKO and LKO were indiscriminately mixed in the category to accomplish a collaborative acquisition consequence ; the purpose of this randomisation was to neutralize all immaterial variables such as sex, personality, age, race, parents ‘ educational position, hapless nutrition, etc. that may impact the findings of this research work. However such step ining variables as fixed mathematics course of study, clip available after categories, decrease in attending and assimilation which may be due to tire after normal school hours could non be controlled.Research InstrumentsThe research instruments used were: Twenty-eight point questionnaire titled â€Å" Survey of Attitude to Mathematicss † ( SAM ) to happen out pupils ‘ attitude toward mathematics by and large and geometric building in peculiar. And A three-item word-problem type, teacher made Mathematics Achievement Test in Geometric Construction ( MATGC ) was administered as a pre trial to command and experimental group for classification of the MKO and LKO. The same trial was administered to both the control and experimental group as a station trial. The MATGC was drawn from past West African Examination Council ( WAEC ) , Secondary School Certificate Examination ( SSCE ) inquiries ( 1998-2008 ) . The pick of WAEC, SSCE inquiries was based on the fact that they are standardised trial inquiries which had already undergone cogency and dependability trials by WAEC. It is besides the scrutiny the pupils will take at the completion of their Senior Secondary Education.Method of Data CollectionThe pupils were divided into two groups, a control and experimental group. The SAM was administered to both groups by the research worker with the aid of the mathematics instructors of the categories used. The pupils were encouraged to reply a ll inquiries in the questionnaire while the benefits that will accrue from the research were clearly explained to them. Deduction of non replying all inquiries in the questionnaire was besides explained to them. The Students were given codifications alternatively of utilizing their names to conceal their individuality in order to promote them to take part in the research. These codifications were written on the single Survey of Attitude to Mathematics ( SAM ) . Method of informations aggregation for the MATGC: The three-item trials were administered to the experimental and control group with the aid of their category instructors. The engagement of the instructor was necessary if the pupil will take the research earnestly and for meaningful informations aggregation. The same designation codification used for the SAM by an single pupil was used for the MATGC. This enabled the research worker to fit the documents of the pupils together. The pretest books were graded out of 30 Markss utilizing a marker usher which was developed and used for rating the trial. The tonss were analyzed in order to place the More Knowing Others ( MKO ) and Less Knowledgeable Others ( LKO ) in the experimental group. A mark above the experimental group category mean ( Mean=7.58 ) qualified a pupil for MKO class while a mark less than the average qualifies a pupil for LKO. The MKO and LKO were made to sit alternately in their several categories to accomplish the collaborative acquisition consequence ; the purpose of this randomisation was to neutralize all immaterial variables such as sex, personality, age, race, parents ‘ educational position, hapless nutrition etc that may impact the findings of this research work. However, such intervening variables as fixed mathematics course of study, clip available after categories, decrease in attending and assimilation which may be due to tire after normal school hours could non be controlled. The two groups of pupils ( i.e. the experimental and command groups ) were now taken through a four hebdomads learning of one hr per twenty-four hours for every other twenty-four hours ( i.e. Mondays, Midweeks and Fridays ) . Classs were conducted after the stopping point of the regular categories, which was designed to take attention of non interrupting the normal mathematics categories and seting those taking portion in the experiment at a disadvantage. The research worker took the experimental groups while the controlled groups were taken by their single mathematics instructor who had been before taught how to utilize the lesson program drawn up by the research worker. The entire figure of contact period came to three hours a hebdomad and a sum of 12 hours for the full period of learning. Consent from school authorization and parents had been antecedently sought. Students in the experimental group were taught utilizing the ADM method, a collaborative-based group learning utilizing the computing machine. The ADM was an cyberspace based geometric building tutorial developed by John Page on hypertext transfer protocol: //www.mathopenref.com/ . The pick of this bundle is the simpleness with which it taught geometric building, utilizing lifes and graphical illustration. Students of the experimental group have entree to computing machines and to the bundle at school during their free periods or if they have internet entree at place thereby larning further on their ain. The bundle is synergistic, provides good visual image for the pupils, it is free for all users, intriguing and captivates the pupils ‘ involvement. It hence provides good apprehension for pupils. Students were now required to execute buildings affecting angle 750, 150O, 1050 angles. Any angle which are non basic have to undergo some uses such as add-on or minus. This was the major jobs the pupils faced. At this point they were allowed to join forces in add-on the MKO were to help the LKO to acquire to a point they could use the construct and build the assorted angles on their ain. The control groups who were taught by their several instructors were taught utilizing the chalkboard, chalkboard compass, and swayer as a medium of direction. They were taught how to build basic angles, , how to bisect angles, buildings affecting angle 750, 150O, 1050, i.e angle which have to undergo some uses such as add-on or minus. No coaction was allowed in this group. Drills and assignments were given to both the experimental and control groups at the terminal of each contact period, while two group undertakings were given to both groups after the terminal of the contact periods. The SAM and the MATGC were now administered to the control and experimental group as station intervention. The responses to SAM and the trial documents were collected, scored and analyzed.Method of Data AnalysisAll informations gathered were organized and analyzed utilizing the undermentioned stairss. The responses from the pre and station SAM were placed against the four- point Likert Scaling, Strongly Agree ( SA=4 ) , Agree ( A=3 ) , Strongly Disagree ( SD=2 ) and Disagree ( D=1 ) for positive statements while the points were reversed for negative statements i.e. ( SA=1 ) , ( A=2 ) , ( SD=3 ) ( D=4 ) . Descriptive analyses was used for the SAM. There were no uncomplete responses to any questionnaire since the filing of the questionnaire was closely monitored by the research worker to guarantee all inquiries were answered by pupils. The MATGC was scored out of 30 Markss utilizing a marking strategy. The pre and station tonss from MATGC were subjected to Pearson Correlation coefficient analysis for variables that can be ranked and ordered, e.g public presentation and attitude, while t-test statistics was used for variables with no order such as relationship between attitude and instructional method while relationships amongst multiple variables such as attitude, public presentation and methodological analysis were subjected to multivariate analysis of discrepancy ( MANOVA ) . Arrested development analysis was besides used to happen out the part of each of the independent variables to the dependent variables. All hypotheses were tested at 0.05 degree of significance.FindingssIn this research, three research inquiries and four hypotheses were posed. The consequences of the pre-test and post-test of MATGC were analyzed utilizing agencies, standard divergence ( S.D ) , t-test statistics. All hypotheses were tested at 0.05 degree of significance. A p- value ( deliberate value ) & lt ; than 0.05 leads to rejection of the void hypothesis, otherwise it is accepted. HYPOTHESIS I- Students ‘ Attitude will non significantly affect their accomplishment in geometric building Table1a: The Pearson correlativity between attitude and accomplishment before interventionVariablePre-Attitude markPre-Achievement markPearson correlativity ( R ) 1.000 0.038 P – value 0.684 Nitrogen 62 62Pre – Accomplishment markPearson correlativity ( R ) 0.038 1.000 P – value 0.684 Nitrogen 62 62 Table1b The Pearson Correlation between Attitude and Achievement after interventionVariablePost-Attitude markPost-Achievement markPost attitude mark Pearson correlativity ( R ) 1.000 0.005 P – value 0.955 Nitrogen 62 62Post – Accomplishment markPearson correlativity ( R ) 0.005 1.000 P – value 0.955 Nitrogen 62 62 From Table 1a above, the Pearson-correlation coefficient between accomplishment mark and the attitudinal mark before intervention was positive but weak ( r=.038 ) . The p-value which is the important value of correlativity between the two variables ( pre- accomplishment mark and pre-attitudinal mark ) is r=0.684 which was greater than 0.05 demoing that the correlativity was non important before intervention. From Table 1b shows the Pearson-correlation coefficient between accomplishment mark and the attitudinal mark after intervention ( r=.005 ) , which was positive but weaker than earlier intervention, while the p-value which is the important value of correlativity between the two variables ( post accomplishment mark and station attitudinal mark ) was p=0.955. The values showed a farther weakening of the relationship between attitude and public presentation. Since this is greater than 0.05 i.e P & gt ; 0.05, it follows that the correlativity was non important. Therefore there was no important relationship between the station accomplishment mark and station attitudinal mark. The attitude of pupils hence did non significantly affect their accomplishment in geometric building. HYPOTHESIS II- There is no statistically important difference between public presentation of computing machine and chalkboard groups. Table 2a: T-test analysis of pretest tonss for control ( Blackboard ) and experimental groups Treatment group Nitrogen Mean S.D df tcalc p-value Experimental Group 33 8.58 6.37 60 1.634 0.108 Control Group 29 6.17 5.02 Table 2b: T-test analysis of station -test tonss for control and experimental groups Treatment group Nitrogen Mean S.D df tcalc p-value Experimental Group 33 11.18 8.59 60 0.932 0.355 Control Group 29 9.45 5.48 The pre-test as shown in table 1a above, the mean of the experimental group ( = 8.58 ) is higher than that of the control group ( = 6.17 ) . The p-value which is the important value shows that the difference is non important ( p & gt ; 0.05 ) . The hypothesis is hence upheld for the pretest. Table 2b presents the post-test tonss and the t-test analysis which showed that the experimental group maintained the lead with a mean of 11.18 over the control group with a mean of 9.45. The t-test analysis shows that the important value of 0.355 is besides greater than 0.05. Again, the hypothesis is upheld in the station trial tonss. In drumhead, from the tabular arraies 2a and 2b above, the experimental group ( computing machine group ) performed better in both the pre and station trials than the control group as evidenced by the agencies ; but the difference in the average public presentations of the two groups is non important. It so follows that the impact of the computing machine assisted direction is non noticeable. HYPOTHESIS III: There is no statistically important difference between male and female pupils in the combined dependant variables that make up the acquisition results Note: The variables that make up the acquisition outcomes in this survey are Students ‘ accomplishment ( tonss ) in geometric building scrutiny. Students ‘ attitude to geometric building. A one-way between groups Multivariate Analysis of Variance ( MANOVA ) was performed to look into sex differences in larning results ( accomplishment and attitudes ) . Two dependent variables ( Achievement in geometric building scrutiny and attitude to geometric building ) were involved. The independent variable was gender. There was a statistically important difference between males and females on the combined dependant variable: F ( 2, 58 ) = 3.763, P = 0.029 ; with lambda = 0.885 ; Eta squared = 0.115. when the consequences for the dependent variables were considered individually utilizing 0.05 alpha degree of significance, the lone difference to make statistical significance was the accomplishment mark after intervention: F ( 1,59 ) = 6.713, P = 0.012 ; Basque Homeland and Freedom squared = 0.102. An review of the average tonss indicated that males reported higher tonss ( intend = 13.154, SD = 7.00 ) than females ( average = 8.457, S.D = 7.01 ) . HYPOTHESIS IV: There is no statistically important difference between computing machine and chalkboard groups in the combined dependant variables that make up the acquisition results. Note: The variables that make up the acquisition outcomes in this survey are ; Students ‘ accomplishment tonss in geometric building scrutiny. Students ‘ attitude to geometric building A one-way between groups Multivariate Analysis of Variance ( MANOVA ) was performed to look into differences in larning result ( achievement and attitudes ) . Two dependent variables ( Achievement in geometric building scrutiny and Attitude to geometric building ) were involved. The independent variable was instructional methodological analysis. There was no statistically important difference between computing machine and chalkboard groups on the combined dependent variables: F ( 2, 59 ) = 0.591, p=0.557 ; Wilks ‘ lamda = 0.980, Eta squared = 0.020. When the consequences of the dependent variables were considered individually, none of the differences reached statistical significance. An review of the average tonss indicated that the computing machine group performed better in both achievement tonss in geometric building scrutiny and attitude to geometric building than the chalkboard group. Below are the agencies and standard divergences. The Hypothesis is hence upheld that ther e is no significance difference between the two groups in the combined dependent variables. Dependent variable Group Mean S.D Achievement trial in geometric building Computer group 11.18 8.59 Blackboard group 9. 45 5.48 Attitude to geometric building Computer group 71.97 4.24 Blackboard group 70.76 10.13DiscussionThe credence of this hypothesis provides replies to the research inquiry, â€Å" Does Assisted Discovery Method of direction affect pupils ‘ accomplishment in geometric building positively † . The hypothesis may non be important and does non uphold Rosen ‘s ( 2007 ) survey on â€Å" Different Learning Environments Provide Different Learning Experiences † where he stated that overall constructivist acquisition environments are more effectual than traditional 1s, but to the contrary to outlooks, traditional scenes did non differ from constructivist 1s when traditionally-appropriate steps were used. The consequences of this probe were able to reply some of the research inquiries: What are the impact of the ADM and traditional method of learning on pupils ‘ accomplishment in mathematics geometric building? Harmonizing to hypothesis two, the mean and standard divergence of both the pre and station trial was non statistically important therefore there may non be any noticeable impact that instructional engineering had on public presentation of both the control and experimental group. The ADM attack nevertheless, harmonizing to hypothesis four revealed a better attack in footings of betterment in both accomplishment and attitude of the experimental group. There was merely a little impact in attitudinal alteration after the intercession from the experimental group. The ground for this could be attributed to the involvement pupils have in computer-based instruction as supported by earlier findings of ( Salami 2008 ) that pupils taught mathematics with computing machine engineeri ng achieved cognitively higher than those taught without computing machine engineering. Further research by Julia in ( Salami 2008 ) stated â€Å" computing machine tutorials, developing through World Wide Web etc can be a rewarding utile experience for pupils † . The Impact Gender played in attitude and public presentation to geometric building survey revealed that male ( average =13.154 ) as against female ( mean=8.457 ) performed better in geometric building than females. This may be topic specific as there are surveies to demo that mathematic public presentation is non gender particular.DecisionThis research has been able to demo that both the traditional method of direction and the computing machine based method plays an of import function in learning and larning.The deduction for this is a demand to:Deduction to PracticeStudents ‘ attitude is cardinal to larning and instructors should make all possible to instill in pupils the right attitude. ADM attack should be applied to other countries of mathematics where pupils perform ill.Deduction to PolicyBetter on mathematics curriculum by seting more accent on usage of Instructional AIDSs in instruction and acquisition. The accent should be on the usage and non which specific one as from this survey the attitude of pupils to whether traditional or computer-based was non important, but the impact of instructional method was noticeable in public presentation.More teacher preparation development plan in current instructional methodological analysisFemale pupils should be given more encouragement in larning mathematics.Further SurveiesA farther survey is recommended for rural and public school scenes as against the urban and private school scenes used for this survey.