Cash payment made on quarterly or semi-annual basic by company to its shareholders. The WritePass Journal

Cash payment made on quarterly or semi-annual basic by company to its shareholders. Cash payment made on quarterly or semi-annual basic by company to its shareholders. IntroductionIs the company’s dividend policy irrelevant to its market value?Bird-in-the-handReferenceRelated Introduction A dividend is a distribution of after-tax profit. It is a cash payment made on quarterly or semi-annual basic by company to its shareholders. At the end of the each financial year every company has to decide (dividend decision) how much amount of earning to be retained by the company and how much amount to be distributed to shareholders. The dividend decision is important because it affects the amount of internally sourced finance available and also affects the return received by shareholders on the shares.  Once the company decided to pay dividends, they may establish a somewhat permanent dividend policy, which may show the impact of the investors and the financial markets. Establishing a specific  dividend  policy  is to the advantage of both the company and the shareholder. The distribution of dividends requires the approval of the board of directors and paid out to shareholders a few weeks later. There are several dates between the times the board declares the dividend un til the dividend is actually paid. The first date of note is the declaration date which the board of director declares the time or date is announced. The next date of note is ex-dividend date which time investors must have bought the stock to receive the dividend. The investor, who buying the stock after ex-dividend date is not receiving any dividend, record date, is a few days after the ex-dividend date the company close its stock transfer books and make up a list of the shareholder, who will receive the dividend. The final step is payment date which the checks of dividend will send to the shareholders. There are different types of dividend, which are cash or as additional stock which increase the number of shares outstanding and generally reduce the price per share, regular dividend which is paid at regular intervals, or a special dividend which is paid in addition to regular dividend and liquidating dividend which are excess of the retained earning they show on their book. There exist four main types of dividend policy theories Modigliani and Miller (1961) dividend Irrelevancy theory, Linter and Gordon (bird-in-the-hand) Theory, Signalling properties of dividend and clientele effect. Is the company’s dividend policy irrelevant to its market value? One of the financial theorists (Miller and Modigliani, 1961) provides a proposition for dividend policy irrelevance. They assume that perfect capital markets, meaning no taxes or transaction costs exist, the market price has many buyer or seller, and there is costless and feely access to information. Modigliani and Miller state that dividend policy was not one of the determinants of share price .Share value is independent of the level of dividend paid. A firm pay dividend is irrelevant and those stockholders are indifferent about receiving dividend. For example, from the aspect of investor, that the company paid too big dividend, investor could buy more share with the dividend that is over the investor’s expectations. Similarly if the company paid too little dividend, an investor could sell some of the company’s share to reflect the cash flow their expected. Market value of company its cost of capital is independent of its capital structure. According to their argument dividend policy is unaffected and irrelevance of market share price .Should the company pay out to its shareholders or retain that money to make new project. Modigliani and Millers dividend-irrelevance theory says that investors can affect their return on a stock regardless of the stocks dividend Residual Policy Modigliani and Miller argued that financial objective is maximise shareholder wealth when the share price is maximised. Shareholders are indifferent between dividends and capital gain. Company is used M M Residual dividend policy when a company undertake all positive NPV project and paid out the residual as dividend. Alternatively a company with not enough funds to invest new project, paid no dividend and the additional funds can obtain from outside sources. They were arguing that if company followed the best investment policy the value of company is irrelevance to its dividend policy. They also argue that shareholders are also indifferent to the timing of dividend payment because if there were no dividends the market value of company would increase to reflect as future dividend and share price is also increasing resulting from the returns of investment. A dividend policy is irrelevant because shareholders have the ability to create â€Å"homemade† dividends that mean that ca pital gain is not perfect suitable for dividend in cash flow terms. This income is achieved by individuals adjusting their personal portfolios to reflect their own preferences. For example some shareholders prefer to get steady of income are more likely to invest in bonds, which interest payment don’t change ,rather than dividend –paying stock, which value can fluctuate. Bird-in-the-hand On the other hands, Lintner (1962) and Gordon (1963) believe that company dividend policies are relevant to their share price. Under conditions of uncertainty and imperfect capital market ,he argued â€Å"bird-in-the-hand† theory that investor can reduce the financial risk associated with their investment if the return is received in the form of dividend earlier, rather than capital gain or higher dividends later. On this analysis, current dividend represent less risky than future capital gain. Therefore, company paying higher dividend will be more worth than company paying lower dividend. Dividend policy is one of the importance factors of determining share price. Gorden argued that the payment of current dividends â€Å"determine investor uncertainty†. The key assumption, as argued by Lintner and Gordon, is that because of the less risky nature dividends, shareholders and investors will discount the firm’s dividend stream at a lower rate of return, â€Å"râ₠¬ , thus increasing the value of the firm’s shares. According to dividend growth model, the value of an ordinary share, Po is given by: Po=D1/(r-g) Where the constant dividend growth rate is denoted by g, r is the investor’s required rate of return and D1, represent the next dividend payments. Thus the lower r is in relation to the value of dividend payment D1, the greater the share’s value. In the investor’s view, according to Linter and Gordon, r the return from the dividend, is less risky than the future growth rate g. oppapers.com/eassys/Bird-In-Hand/536314 Signalling effect of dividend This theory argued that financial information is asymmetric and managers will always know more than shareholders about the future financial prospects of the company. The dividend declared can be interpreted as a signal from directors to shareholders about the strength of underlying project cash flows. Increasing dividend is usually seen as good news, indicating that the company has positive prospects. The theory of dividend signalling has usually refers to a cash distribution of retain earnings. jstor.org/pss/2328393 Reference Watson, D. and Head, A. (2010) Corporate finance Principles Practice.5th edition. Essex: Pearson Education Limited.

Byetree procurement strategy Essay Example | Topics and Well Written Essays - 5500 words

Byetree procurement strategy - Essay Example However, this changed and went beyond the old practices when the UK government became active in the promotion of sustainable development and combating climate change (AECOM, 2012). In addition, the highway customers/consumers have become discerning on the quality and quantity of MSA services. It is a great challenge for the Baytree Leisure Plc, which is the developer of a proposed MSA, to design and build the facilities in accordance with the existing Building and Environment Regulations of UK, and customers’ demands and expectations. Therefore, it is in this context that the Baytree Plc has determined the type of procurement method to be applied in order to mitigate the construction and engineering risks as well as to achieve total sustainability and environment-worthiness of the project. Key Procurement Issues for Baytree Leisure Plc Procurement process for Baytree in the development of Motorway Services Area (MSA) is covered by the UK standard with the goal for an efficient and streamlined approach. To meet and achieve satisfying result, the project will integrate all members/key people in the procurement chain which included the project owner, contractors, sub-contractors and the customers. A closer working experience between Baytree and its general contractor and specialty contractors may yield better results in consideration of the requirement of customers. Customers in this instance are the driving public not only in the area but also visitors. Their needs must be considered from the design process to the procurement in order to fully address time, cost, and quality constraints if any. These are described in detail on the next discussion. Key procurement issues for Baytree for the construction and development of MSA in consideration of the requirements include but not limited to the design of sustainable and environmentally sound MSA details, integration of this design to the various stages, identifying locally available materials suppliers as wel l as well as professionals and teamworkers, and identifying alternative sustainable and environmentally sound supplies, materials and equipment, efficient delivery and storage. Design Process The design process employs strategies and systems to meet the following: Energy and environmental performance standards Maintain a view of the whole project as a seamless whole within the context of the locality Understands that the project exists within the context of a natural ecosystem even in an urban setting Incorporation of interdisciplinary collaboration throughout the design and construction process Maximised performance through maintenance of air quality as natural as possible and increased use of natural or daylighting Integration of all important construction and project design decisions and strategies prior to programming phase Optimised design choices through use of simulations, models, and other design tools Employment of life-cycle cost analysis in purchasing and general decision -making System must be easy to maintain and operate Equipment and systems must assure continued optimum performance Maintain well-documented performance to meet design intentions Resource-efficient construction operations

A Critical Analysis of Rehabilitation in Contemporary Penal Policy Essay

A Critical Analysis of Rehabilitation in Contemporary Penal Policy - Essay Example A working definition of â€Å"rehabilitation† is needed in order to perform an analysis, though even a few definitions evidence how differently the word can be interpreted. The British Humanist Association, in discussing rehabilitation, comments whether we should â€Å"be reforming and educating criminals, so that they have something better to do with their lives and no longer want to commit crimes?†. Lewis, after summarizing the many documents produced of late by the Home Office on the topic of crime, states, â€Å"These documents seem to give significant weight to the rehabilitation of offenders on the basis that such strategies will reduce reoffending†. Clearly, while both have a goal of reducing the commission of crimes by former inmates, the Humanists appear to have a concern for the content of the strategies, not just the process. Lewis proposes his own definition of rehabilitation, â€Å"the process whereby offenders are afforded the opportunity to be ful l members of society, with the rights and responsibilities that this entails.†

Through the Tunnel- Doris Lessing Essay Example for Free

Through the Tunnel- Doris Lessing Essay 1. The inner journey that the boy takes on his self-imposed physical rite of passage is his transition from childhood and emerging into young manhood. This transition is mostly symbolised in this short story by the Jerry’s experience of preparing to go through the tunnel after watching the other boys swim through the tunnel. Jerry practised holding his breath in order to get over the first barrier in achieving his desired destination, the light at the end of the tunnel which symbolises the beginning of his young manhood. This inner journey of growing up is also represented through the physical aspects of the journey when he went from staying with his mother on the safe beach to the dangerous, risky and rocky bay with the French boys. This maturing is also represented when he wanted to give up on his quest after suffering numerous nosebleeds and his fear of death in the tunnel. However he decides to complete the quest anyway based on impulse and by pushing through, he has found self confidence and maturity which is seen by his wanting to be independent of his mother. 2. Lessing conveys the elements of the inner journey that Jerry grows through by using extensive symbolism and metaphors in the story. This third person narration provides an omniscient view on the main theme in the story- the coming of age in Jerry. Her use of third person narration allows her to explore the characters stream of consciousness such as, â€Å"She was thinking, Of course hes old enough to be safe without me. Have I been keeping him too close? He mustnt feel he ought to be with me. I must be careful†. This sort of narration allows Lessing to give detailed descriptions of the surroundings such as the different colours on the beach and uses the colours to show the transition in Jerry from innocence to taking risks such as when Jerry is approaching the bay, where the rocks where just â€Å"red –brown† before becoming â€Å"rough, sharp†. The metaphors and symbolism is also visible when Jerry is swimming through the tunnel, there was a period of darkness before emerging in the light from the crack in the tunnel, symbolising the turmoil inside the child of wanting to be independent before emerging into young adulthood. The native boys also prove to be a strong motif in the story as Jerry used to look up to these boys and wanted to do what they did. â€Å"They were big boys- men, to Jerry†, quotes how Jerry yearned to be like them, men. He sees swimming though the tunnel as a rite of passage. However after being able to achieve what the boys had done, Jerry wanted nothing to do with them as he had symbolically emerged into adulthood, â€Å"He could see the local boys diving and playing half a mile away. He did not want them.†

Race And Law In Philadelphia :: essays research papers

RACE AND THE LAW IN PHILADELPHIA   Ã‚  Ã‚  Ã‚  Ã‚  If you’re ever driving down I-95 through Philadelphia, you will notice an exit for Allegheny Avenue. Allegheny Ave is one of the most dangerous parts of Philly you can drive through. Predominantly black with some Puerto Ricans and a handful of whites, Allegheny is situated between the Delaware River and abandoned industrial complexes. Windows are kept closed and doors are locked as you drive past bums, drug dealers, scorched abandoned cars, sleazy strip bars, cops and crack heads. You can buy cocaine and marijuana on almost every side street just by driving down with your window rolled down. Corners with lots of shoes hanging from a single telephone poll advertise heroin and crack. Once you drive under the L-train, you can amuse yourself by playing the spot-the-prostitute-game. Paddy wagons are never parked to far away and cops patrol by, ignoring the misdemeanors around them and just trying to make worthwhile arrests.   Ã‚  Ã‚  Ã‚  Ã‚  If you go no more than 20 minutes west, you’ll end up in Manyunk, which is directly on the border of Philadelphia, and to residents, is considered part of it. Unlike Allegheny Ave, the main street is littered with import stores, hip coffee houses, yuppie bars and colorful banners that welcome you to the town. It’s a perfect place for happy couples and families to go for shopping, dinning, and entertainment. The surrounding neighborhoods mainly consist of white people who have grown up in Philadelphia. There are plenty of barking dogs, swing sets and kids who play street hockey without a worry besides being home by dinner. The families are mainly blue-collar workers that are able to send their kids to parochial schools. Everyone knows everyone else in the neighborhood and you get the sense that people watch out for each other. Occasionally a cop will patrol by but nothing ever really goes on besides the occasional breaking of the noise curfew. All in all, there isn’t a lot of law enforcement there because there doesn’t need to be.   Ã‚  Ã‚  Ã‚  Ã‚  You’re probably wondering why these two neighborhoods are different. A lot of different factors come into play but I will attempt to explain it anyway. First, environment definitely seems to be a big factor in the direction a community will take. Allegheny Ave is pretty much detached from a lot of the city. The schools are seriously over-crowded and are known to be dangerous.

Taiwan Scholarship Program Guidelines

The Taiwan Scholarship Program Guidelines are duly enacted in accordance with Article 4 of the Taiwan Scholarship2.Types of Scholarships and benefits:Undergraduate Scholarships: These scholarships are for foreign students who want to pursue undergraduate studies at universities/colleges in Taiwan. A stipend of NT$25,000 per month per student will be provided. (2) Master’s Scholarships: Scholarships in the amount of NT$30,000 per month will be provided for qualified foreign students who want to pursue their master’s degrees at universities/colleges in Taiwan. (3) Ph.D. Scholarships: Scholarships in the amount of NT$30,000 per month will be provided for qualified foreign students who want to pursue their Ph.D. degrees at universities/colleges in Taiwan.The aforementioned scholarships will be under the supervision of the universities/colleges and stipends will be awarded monthly based on the students’ attendance records and academic performance. Tuition, accommodati on, insurance and miscellaneous fees are all included in the scholarships herein stated. For the scholarships, which are sponsored by the Ministry of Foreign Affairs of the Republic of China (ROC), each student will be provided with a stipend of NT$30,000 per month, plus an economy airfare for direct roundtrip flights. 3.Quotas and Scholarships Offered by Government Agencies:Taiwan scholarship quotas will be discussed and decided by the Taiwan Scholarship Management and Promotion Committee and are contingent upon the annual budget allotments. Taiwan Scholarships are funded by the Ministry of Education (MOE), the Ministry of Foreign Affairs (MOFA), the National Science Council of the Executive Yuan (NSC) and the Ministry of Economic Affairs (MOEA). Scholarships offered by the aforementioned agencies are as follows:(1) MOE: Undergraduate/Masters’s/ Ph.D. Scholarships; (2) MOFA: Undergraduate Scholarships; (3) NSC: Master’s/ Ph.D. Scholarships; and (4) MOEA: Masterâ€℠¢s/ Ph.D. Scholarships; limited to graduate degree programs and are related to science, engineering, agriculture, medicine and hi-tech  fields. Recipients, whose scholarships are sponsored by the MOE or MOFA, may attend Language Enrichment Programs (Hereinafter referred to as LEP) in University-affiliated Chinese Language Centers (Hereinafter referred to as language centers) in Taiwan up to one year, in order to improve their language proficiency, before beginning their degree programs.A stipend of NT$25,000 for MOE recipients, and NT$30,000 for MOFA recipients per month, per student will be provided. Those who apply for the Master’s and/or Ph.D. Scholarships from the NSC and MOEA can not apply for the Language Enrichment Program.4. Duration of Scholarships:(1) Undergraduate Scholarships: maximum four years; (2) Master’s Scholarships: maximum two years; and (3) Ph.D. Scholarships: maximum three years.The total and maximum number of years for foreign students to recei ve scholarships (including LEP) will be five years. In principle, scholarships will begin from August 1 of each year and continue until July 31, of the following year. Scholarship recipients who are approved for summer programs or LEP may be assigned different scholarship award dates. If the recipient fails to enroll before the semester starts, the scholarship will begin from the month he/she arrives in Taiwan to study. Scholarships will begin from the month of student enrollment and will stop when the scholarship ends, the recipient graduates, drops out, is expelled, or upon cancellation of the scholarship, whichever comes first. Scholarship applicants shall not accept more than one scholarship issued by ROC (Taiwan) governmental agencies and/or educational institutions at the same time.If the applicant was granted more than one scholarship, he/she shall select only one scholarship to receive; if an applicant is found to be receiving more than one scholarship at the same time, the applicant shall be disqualified and asked to return the scholarship money already received.5. Qualifications: Applicants must meet the following requirements: (1) They should have a good academic record and moral character; (2) They should neither be Overseas Chinese Students nor ROC nationals; (3) They should not be scholarship recipients from other ROC government agencies or institutions in Taiwan; (4) They should not be exchange students who are admitted in accordance with academic cooperation agreements made between local educational universities/  colleges and foreign educational institutions;(5) They should not have had their scholarships cancelled in accordance with these Guidelines; (6) They should not have received Taiwan Scholarships of the same type; (7) The total duration of their scholarship(s) should not exceed 5 years; (8) They should not be foreign students who have already enrolled at local educational institutions at their own expense. (However, they will be elig ible to apply to individual universities/colleges for Foreign Students’ Scholarships, which are subsidized by the MOE.)6. Application Process:(1) Procedure: The overseas missions of the ROC should refer to MOE Regulations Regarding International Students undertaking Studies in Taiwan and these Guidelines while receiving and reviewing applications either independently or in joint cooperation with foreign local governments, schools, or cultural and educational institutions. Each year, by the end of January, the overseas missions should report their selection and assessment methods (through meetings or paper review) regarding these scholarships to the related government agencies and the MOE. (2) Application Period: Annually from February 1st through the end of March.(3) Required Documents: Applicants need to submit the following documents: A. Taiwan Scholarship Application Form (Form A with Study Plan; the format will be regulated by the MOE); B. Proof of highest educational qua lifications and academic performance; C. Proof of application to enroll at local universities/colleges and/or language centers (e.g. a copy of the application form); and D. Other documents as requested by the overseas missions of the ROC.(4) Selection: After reviewing the application documents, the overseas missions will select eligible scholarship candidates, as well as alternatives and create a list. This list will be sent to the related universities/colleges or language centers by the end of April for their reference. Copies of this list will also be provided to the related government agencies and the MOE. (5) Approval: Applicants are responsible for their application process to the universities/colleges or language centers that they would like to attend. Each school and/or language center shall refer to the guidelines of individual schools admission process for foreign students and begin the application review process. The school and/or language center should notify candidates, of their final decision, no  later than mid-June.(6) Notification of Admission: Applicants, upon receiving their admission letter, need to submit a copy of the admission letter to the designated respective overseas missions in order to secure their scholarship by no later than the end of June. Late submission of these documents, after the deadline will be deemed as a waiver for accepting the scholarship. In this case, the respective overseas mission should send a scholarship award letter to all qualified recipients and inform the alternative(s) in order to fill any vacancy(s). Candidates will be disqualified if they fail to pass the application review process of respective schools.(7) Acceptance Lists: By the end of July, the overseas missions should provide recipient acceptance lists, which will include their legal names, Chinese names, nationalities, gender, scholarship sponsoring agencies, type of scholarship, duration of scholarship, admitting universities/colleges and/or lang uage centers, highest educational qualifications, references of the recipients and other information to the related government agencies (including the MOE) and universities/colleges and/or language centers involved.The overseas missions shall also provide such information to the Bureau of Consular Affairs of the MOFA and the National Police Agency of Ministry of Interior, in order to assist them with their follow-up procedures. In case of special conditions or failure to complete the aforementioned processes, before the required deadlines, the overseas missions should report such circumstances to the related government agencies for approval (and inform the MOE of such events). (8) For those recipients whose scholarships are funded by the MOFA, the respective ROC overseas missions will purchase one-way economy airfare tickets to Taiwan for the recipients.The overseas missions need to submit the original receipts and copies of passenger coupons to the MOFA in order to be reimbursed. T he return economy airfare tickets will be bought by the MOFA. 7. Renewal process for scholarship recipients in Taiwan before the expiration of scholarships and the application for enrollment: (1) Recipients who want to pursue further study programs need to follow the terms found in Subparagraph (2) and (3) of this Article. For other recipients in Taiwan, who wish to renew their scholarships (in August), they have to submit each year a Taiwan Scholarship Application Form (Form B; the format will be regulated by the MOE) and reports of their academic  performance to their universities/colleges by the end of February.The universities/colleges will review their applications to see if they are qualified and send the list to the related government agencies (including the MOE) for review in order to reserve the number of scholarship recipients and follow the Article 10 for allocation. (2) The MOE may assist recipients who have been approved for scholarships up to five years (the LEP and undergraduate degree programs) in applying to enroll undergraduate programs. If the said recipients are unable to apply to universities/colleges on their own, they may submit their reports of academic performance (including the academic records for each year of their highest study, including language center records) and the Admission Assistance Application Form (the format will be regulated by the MOE) to the language centers.These language centers will coordinate all forms and send them to the MOE. The MOE will assist in selecting the proper universities, according to the recipients’ wishes and levels of language proficiency. Applicants should agree to abide by all final arrangements. (3) Scholarship recipients, who wish to continue to study for their master or doctoral degrees, upon completion of their previous course of study, need to apply for the admission to the new degree program on their own. (4) Universities/colleges that accept these scholarship recipients, as state d in Subparagraph (2) and (3) of this Article, shall submit the lists to the related government agencies (including the MOE) by the end of June for review, in order to reserve the number of scholarship recipients and follow Article 10 for allocation.8. Application process for re-applying for Taiwan Scholarships after the scholarships expire: Scholarship recipients who have already studied in Taiwan will be regarded as new students after the expiration of their scholarships. If they wish to re-apply for other types of scholarship and pursue further degree programs here, they need to follow Article 6 of these Guidelines and submit the Taiwan Scholarship Application Form (Form A) and their academic records to the ROC overseas missions by the end of March. The total duration of their scholarship period cannot exceed five years, as regulated by Article 4 Paragraph 2 of the Guidelines. Undergraduate, Master’s and Doctoral Scholarships recipients whose scholarship period was awarded for only one year, in accordance to the previous version of these Guidelines, should renew their scholarships following Article 7 Subparagraph(1) of these Guidelines, and are not subject to the regulations stated in the previous Paragraph of this Article. 9. The Suspension and Cancellation of Scholarships:(1) LEP students: A. If a student is absent for more than ten hours of class (serious illness and accidents excluded) within a single month, the language centers will suspend his/her scholarship the following month. B. Starting from the second quarter of study in Taiwan, if a student’s academic average is less than 80%, his/her scholarships for the next quarter will be suspended for one month. If a student’s academic average is less than 80% for two consecutive quarters, his/her scholarship status will be cancelled beginning with the next quarter.The remainder of the scholarship will also be cancelled. C. If a student is suspended from or drops out of school, the lan guage center will suspend his/her scholarship and inform the related government agencies in writing (including the MOE) in order to cancel his/her scholarship status. The remaining scholarships will also be cancelled. (2) Undergraduate/ Master’s/ Ph.D. students:A. For those Undergraduate/ Master’s scholarships recipients who are in each year of their study; Ph.D. scholarships recipients who are in the first two years of their study, if their academic average is below the passing standard set up by the school for any given semester, their school will suspend their scholarships for one month beginning with the next semester. If the schools have not set up an academic grading standard, then an undergraduate student’s academic average cannot be less than 60%, while a master and doctoral student’s academic average cannot be less than 70%. If a student is below passing for two consecutive semesters, their scholarship status will be cancelled starting the next s emester. Their remaining scholarships will also be cancelled.For those who are in their third year of a doctoral program, they must submit their thesis proposals to their schools, by the end of October of that year. Scholarships will be granted each month, if the schools approve the students’ proposals. Otherwise, scholarships will be suspended until proposals are approved, and will resume beginning from the month of approval. C. If a student is suspended from or  drops out of school, his/her school will automatically suspend his/her scholarships and inform the related government agencies in writing (including the MOE) in order to cancel his/her scholarship status.The remaining scholarships will also be cancelled. 10. The Allocation and Verification of Scholarships Accounts: (1) Allocation: Universities/colleges need to make a list of scholarship recipients and vouchers based on the various types of scholarships provided by the different government agencies. Universities/ c olleges should enclose their list of qualified recipients and vouchers, and apply to the MOFA or the MOE (scholarship stipends provided by the NSC and the MOEA are handled through the MOE; it should be noted on each voucher that the MOE is in charge of the allocation of funds for scholarships) for appropriation in January and August. Each institution will directly pay a monthly stipend to the students or to their accounts.(2) Verification of Scholarship Financial Transactions or Reports: A. For scholarships provided by MOFA, universities/colleges need to provide student signed receipts, or documents which show that money has been transferred into the students’ bank accounts, to the MOFA for verification in August and December. B. For scholarships provided by the NSC and the MOEA, universities/colleges need to provide three copies of financial transaction reports (signed by the head of the universities/colleges, accountants and cashiers) and any remainder of the stipends to th e MOE (for it to make a transfer to the NSC and the MOEA at the end of fiscal year in order to close the case) in August and December.C. For scholarships provided by the MOE, universities/colleges need to provide two copies of financial transaction reports (signed by the head of the universities/colleges, accountants and cashiers) and any remainder of the stipends to the MOE in August and December. Universities/colleges need to also keep the original copies for the Ministry of Audit or other related authorities for review. 11. Emergency Deductions: In case of financial difficulties, a scholarship recipient may request that the school deduct tuition, miscellaneous expenses, insurance premiums and other payable fees in a lump sum or in installments from his/her award, and issue the remaining amount to the scholarship recipient.12. Transferring to other schools: If scholarship recipients need to transfer to other institutions due to health, psychological reasons or special environmenta l surroundings, they need to follow MOE Regulations Regarding International Students undertaking Studies in Taiwan. If the institution or language center agrees to their transfer, these institutions must inform the related government agencies (including the MOE) for future review. Only one transfer is permitted. 13. Additional Information:(1) The MOE may allocate administration subsidies to institutions that join the Taiwan Scholarships Program and set aside a budget to assist institutions in setting up an information service center, in order to strengthen communication and the governing system for scholarships students. (2) ROC overseas missions shall organize orientations, in order to provide scholarship recipients with relevant information, before they travel to Taiwan. (3) ROC overseas missions shall be aware, if a student gives up his/her opportunity to come to Taiwan. If such a case happens, the ROC overseas missions will replace this student with another alternative.(4) Schol arship recipients should arrive at their designated universities/colleges or language centers prior to the day of registration. Institutions should report the names of those who fail to register, to the related government agencies (including the MOE), by the end of October. (5) Medical insurance fees are already included in the stipends. Universities/colleges and language centers should require that scholarship recipients join the National Health Insurance plan. Scholarship recipients must purchase other forms of medical insurance before enrolling in the National Health Insurance plan. The premium of the medical insurance plan will be deducted from the scholarships; the remaining scholarship money will be given to the scholarship recipients.(6) The ROC overseas missions should ask scholarship recipients to provide them with academic records or a report, postal and email addresses, within one month of the return to their respective countries after they complete their studies in Taiwa n. (7) Each year by the end of October, the ROC overseas missions need to send a comprehensive evaluation, which should include each student’s academic records and the other materials as stated in the Subparagraph (6) of this Article, to all the related government agencies (including the MOFA and the MOE) (8) To improve healthcare services for MOFA scholarship recipients,  the MOFA may arrange health examinations for the recipients.The MOFA shall coordinate with schools and hospitals for such examinations, with fees to be covered by its Taiwan Scholarship budget. 14. The selection process regarding the Taiwan Scholarships, their types, benefits and duration will be subject to the terms regulated in the above Guidelines. Scholarships, which have been awarded due to bilateral negotiations, cultural and educational agreements, or based on the terms of equality and reciprocity, or special circumstances, approved by heads of government agencies are not subject to the terms and r egulations under these Guidelines.

The Demise of the Roman Empire Essay - 1452 Words

A little over 2000 years ago Rome was one of the most important cities in the world. With its many emperors and armies it had gained control of a vast area of modern Europe known as the Roman Empire. Historians have linked several factors which led to the demise of the Roman Empire mostly associated with each other. Some of the reasons were the arrival of Christianity, lead poisoning and poor public health, political corruption with high military expenses, high unemployment with a rise of inflation and taxation in the economy. It was a combination of these factors which eventually led the final fall of the Roman Empire in 476 AD when the last emperor Augustulus Romulus was overthrew by a Germanic Guard named Odoacer. Rome was a†¦show more content†¦As there was no proper method of electing successive emperors the selection was generally debated between the old emperor, the Praetorian Guard, the senate and the army. Eventually the Praetorian Guard gained total authority of the vote for the new emperor. This practice lasted for several hundred years and at times the emperor was elected from the highest bidder. In 186 AD the new emperor was strangled by the army and during the following century Rome had thirty seven emperors in which twenty-five were assassinated. Although many of these emperors with their large armies gained vast control of many countries which extended entirely around the basin of the Mediterranean Sea, including what we know today as Turkey, Israel, Egypt, and North Africa, France (called Gaul), Spain called Hispania and Portugal (Iberia) and modern England, it took up to 600,000 soldiers to maintain this large empire which put a huge strain on finances. Many improve ments were made within their conquered territories with improved infrastructure by the building of bridges and roads between these different countries. It was mainly the political corruption and the associated costs of maintaining their armies of these emperors which contributed mostly to the weakness and fall of the Roman Empire. While Christianity was increasing in popularity a large number of citizens became pacifists and refused to defend the empire against barbarian attacks. Many women and slaves became Christians becauseShow MoreRelatedThe Fall Of The Roman Empire846 Words   |  4 PagesVance Take Home Essay Final Fall 2014 A1. For an empire that lasted nearly 500 years, the fall of the Roman Empire was influenced by various different events. Four troubled ingredientes lead to the demise of the the greatest empire of all time; politics, money, social, and war. It is important to note that the fall of the Roman Empire does not mean that the romans lost everything, it is just a reference to the fall of the western roman empire. 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