Financial Risk Management Consultancy Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1770 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Sometimes companies are faced with tough investment decisions to make. Mostly, these are decisions that affect the future growth or perpetuity of a particular company. Each company would like to know the expected returns in future so that it may plan ahead. However, with the current volatility in the market where prices are fluctuating without warning, it becomes hard to pinpoint what a company will be worth in future or at what price the commodities of the company will be at a certain date in future. This dilemma is faced by QGold Corporation. This company aims to expand. In so doing, it must make sure that its future is stable. Since the company gets its revenue from the sale of gold and gold products, it must have a way of making sure that these prices are stabilized to prevent unforeseen losses in the future. This report investigates the options available for QGold Corporation and recommends the use of hedging through the investment in the futures contracts market. The future contracts market offers price stability by enabling QGold Corporation have a definite expected return figure for when the contracts mature and thereby enabling the management to make viable decisions in the company. Don’t waste time! Our writers will create an original "Financial Risk Management Consultancy Finance Essay" essay for you Create order Introduction This report aims at investigating the avenues of risk present in QGold Corporation, the risk factor exposed to QGold Corporation, the current system in use by QGold Corporation in the management and/or mitigation of financial risk in their organization and provide ways and recommendations which QGold Corporation may use to eliminate financial risk in their system. This report will use a number of methods and approaches in the analyses of the financial risk in QGold Corporation. Correlation analysis will be employed as well as discounting of cash flows. Since the company aims at expanding its capital base and scope in the near future, and since the profit or loss realised by the company is solely dependent on the market prices of the gold mined by the company, there is a need to make sure that profitability is guaranteed in future in the volatile gold market. Discounting of the cash flows and futures will be done to be able to analyse this particular case. Correlation will also be used to find the profitability ratio of the gold now compared with the futures prices of the same as given arbitrarily by the Australian financial futures reports. QGold Corporation: Brief history QGold Corporation is a company based in Australia that deals with the mining, processing and sales of gold and gold products. QGold Corporation produces its product from Charter Towers gold field in Northern Australia. This field is deemed to be one of the highest grade fields in all of Australia. The company has a vision of expanding its operations beyond northern Australia. As such, massive capital has been employed in the prospecting of gold. It seeks to be capable of producing up to 50 million ounces. Those expansion policies are already underway as the company has started extracting gold and processing gold products. Financial risk factor in QGold Corporation QGold Corporation gets its revenue from the extraction, processing and sale of gold and gold products. Due to this, the corporationÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s profit and loss is dependent on the price fluctuations of the gold. As projected by the board of the company, the company is expected to benefit one dollar (USD) for every one cent increment in the price per ounce of gold in November 2012. However, the market for gold in Australia and the world at large is currently very volatile and taking into consideration the massive amounts of money and input, both in personnel and other resources, it is crucial for QGold Corporation to manage its risk factor so as to try and avoid losses. Reasons for want of risk management in QGold Corporation There are quite a number of reasons warranting QGold Corporation to manage their financial risks and their level of exposure to risk. Triantis (2000, p.561) sums some of these risks as follows in the succeeding discussion. The company wants to decrease the probability of it becoming bankrupt, find ways of bettering its terms of transactions with its clients, suppliers as well as its employees. QGold Corporation also seeks to reduce cases of value-decreasing investment decisions such as prospecting mines without having them initially investigated to prove that there is existence of deposits. According to Newland Tanaka (2010, p. 24) entrepreneurial ship requires a degree of ingenuity so as to achieve its targeted revenues. Similarly, QGold Corporation is also aiming at trying to minimize cases that would to the decrease or falling short of projected and targeted returns on investments. Gold price fluctuations as an avenue of risk for QGold Corporation Gold price fluctuations in the market have been a factor that has led to the collapse and sometimes, the rapid rise of many gold mining corporations in Australia. According Wikiposit (2012) the average price of one ounce of gold in 2012 was placed at USD 1658.04. This is an increment from the average price of one ounce of gold in the year 2011 which was placed at USD 1534.22 (Wikiposit, 2012). Evans Brearley (1999, p. 696) claims that the price increase in gold resources and production in 1980s and in the subsequent years have precipitated into the increase in the prices of gold. This increase in production occurred as a result of advancement in technology and use of carbon-in-pulp and carbon-in-leach methods of production in the mining fields (Evans Brearley, 1999, p. 696). QGold Corporation expects the price of gold to increase in the coming months and this is confirmed by the PriceWaterHouseCoopers (2012, p. 6) who conceded in their research that 80% of the executives and key players in this industry were interviewed said that they expected the prices of gold per ounce to keep on rising. However, the volatility factor of prices of gold canÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢t be out ruled. Due to this, the company has decided to caution itself against impending losses by investing in the futures market through derivatives of the futures contract. Hedging strategy and the futures contract as a method of risk mitigation in QGold Co. Dodd (2001, p. 1) defines derivatives as financial contracts that are meant to bring about changes in market prices of a particular commodity without actually bringing about a change of ownership. According to Campbell et. al (2006), hedging is making a particular investment as a way of trying to mitigate the risk of adverse and unpredicted fluctuations in prices of a certain asset. A hedge is a very good way or reduction of risk. This is done by investing in the futures commodities market. According to Wikiposit (2012), the price of gold in October 2012 commodities futures market is given as being USD 1691 per one ounce of gold. The current price of one ounce of gold is given as USD 1674. Wikiposit (2012) also give the margin requirement for September 2012 as being USD 1687.60 per one ounce of gold. This figure, USD 1674, is not guaranteed to rise in future. As much as all the conditions as presented by PriceWaterHouseCoopers (2012) point and predict a rise in the future price of th e ounce of gold, the market could behave otherwise and adverse effects on the prices realized. If this happened, QGold Corporation could find itself exhibiting losses. To cushion the company from such losses in the unpredictable future, hedging should be employed here. QGold should employ the use of derivatives to enable it avoid future losses. However, the use of these derivatives should be well monitored as sometimes their misuse could lead to massive losses. Jo et. al (n.d, p.2) argues that the unethical or unprofessional use of derivatives could lead to a global financial crisis. QGold should take an offsetting position in case it decides to invest in the futures commodities market. Finnerty Grant (n.d) defines offset hedging as the liquidation of a futures position through making a transaction today of an equivalent value thereby getting rid of the futureÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s delivery requirement. Currently, QGold Corporation has an exposure of a value exceeding 50 million ounces of gold. Data borrowed from CME group (2012) gives two options of futures for gold, that is, for the months October 2012 and December 2012 respectively. QGold Corporation may decide to either invest in both of these futures or one of them depending on their stand regarding risk management. Recommendations After the options available to company QGold have been analyzed in the preceding discussion, some recommendations are done as stipulated in the subsequent paragraphs. Firstly, QGold should look for ways of minimizing the risk exposure inside the firm. Before resources are employed in prospecting for mine fields, an intensive research and study should have been carried out beforehand to ascertain the availability of the said minerals. Sometimes prospecting might be carried out on a mine only to find that there are no mineral deposits thereby resulting into loss of massive resources and time. QGold Corporation should also get a good hedge fund managing company to offer them advisory services on how they will invest in the futures market to avoid losses resulting from unethical use of derivatives. The best futures should be identified and invested in. QGold Corporation should continue with their expansion plans and utilize its size for market advantage. A big company is more capable of exploiting the market better than a small company. Conclusion In conclusion, it has been made evident in matters discussed in this report that QGold Corporation will be able to avoid future losses by engaging itself in hedging through investing in the future contracts market. The volatility of the gold market in Australia and the world in general makes it very hard for companies to predict their future returns. This is because prices may fall leading to a decrease in the returns or they may rise resulting to an increase in the level of returns. Since the future lies unknown and no one knows for certain what will occur, itÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s better to prepare to the future today. To prevent imminent losses in the future, investing today in a futures market will guarantee a company a specific return to investment regardless of the risks involved or the prices that will be existing at that time. However, QGold Company may also find itself making losses where the market prices that will be existing at the time of maturity of the futures contract exceed the price of the futures. Despite that notion though, investing in the futures contracts would be the best measure for QGold Corporation to take as it totally eliminates all risk, gives definite expected returns in future and allows the corporation the freedom to make other management decisions without fear.

The Benefits Of College Tuition - 1285 Words

The key to living a comfortable life in today’s world is having a college education. Life has gotten much harder and the job market has become more competitive without a four year degree. Having to work two or three jobs and both parents of the home working to put food on the table. People are barely making it with a bachelor’s degree now and are finding themselves needing a master’s degree to get a better job. College tuition has been increasing at a steady rate. Many students are finding themselves not having equal opportunity to attend college due the high tuition cost. A large number of students that do attend find themselves with a huge amount of student loans to pay. Colleges have raised their tuition greatly, created unequal opportunity and create loans that take years to pay back. The tuition for college has skyrocketed. â€Å"For the past quarter-century, the cost of higher education has grown 440%, according to the National Center for Public Policy an d Education, nearly four times the rate of inflation and double the rate of health care cost increases† (Lataif). Inflation raises every year and tuition keeps getting more expensive as if it needs to be ahead. Some states have had their tuition raised more than others. Smith gives an example, that in the 2007/2008 fiscal year the state of Nevada raised tuitions in the state’s public universities by 10.9%, while the Boulder Campus for the University of Colorado raised their tuition by 14.6%. 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Rousseau as Totalitarian Free Essays

ROUSSEAU AS TOTALITARIAN? Rousseau, known as â€Å"Father of Modern Democratic Theory†, was being accused by other people as a â€Å"Father of Totalitarianism†. This is one of the contentious issues which attack Rousseau’s social contract; he is seen to be advocating totalitarian solution rather democratic. Others may have only misunderstood the concept of totalitarianism but I tell you there is no clear evidence showing he is in favor of totalitarian. We will write a custom essay sample on Rousseau as Totalitarian? or any similar topic only for you Order Now Why, then, some considered Rousseau as a totalitarian? Maybe it goes with his controversial concept of general will. The general will can be perceived as an objective truth to which every citizen must conform. Therefore everybody was under the control of the general will. Since totalitarianism is defined as a  political system  where the state holds total authority over the society and seeks to control all aspects of public and private life whenever necessary; this means that the general will can be use as a totalitarian device. But the methods suggested for discovering the general will were basically democratic. This concept was introduced to prevent exploitation and this will only take effect if it is willed by the citizens. In this case, we can see that Rousseau was proposing that the best way for a community to make decisions was really to use democratic procedures. Hence, we cannot condemn him being a totalitarian advocate just because general will reigns. After all, even if it controls every citizen, it still comes from all and it tends always to the preservation and welfare of the whole and every associate. Another thing that can probably make people thinks of Rousseau’s social contract as a totalitarian is due to his view of â€Å"majority binds the rest†. Rousseau was aware that no particular human being knows what the general will truly is that is why he proposes that what the majority has voted, it is the general will, assuming that everybody is thinking for the common good of the community and not for his own self-interest. Now problem the decision of the majority is what rules the community and we don’t even know if they are really thinking for the common good of everybody. They maybe considered as one political group who reigns over the community. This cannot be a valid reason for saying that Rousseau was after a totalitarian government. Remember Rousseau has insisted that the sovereign is the people and not a particular group only. And at the start of the compact, before they have voted for what they think is general will; the people should give their consent to all the laws that will be passed even in their opposition. Despite that the decision of the majority wins, the people still has participated in determining that certain law. Rousseau was merely proposing measures aimed at creating community cohesion and preserving democracy. We can now say that his proposal was really an authentic attempt of finding a form of association which will defend and protect with the whole common force the person and goods of each associate, and in which each, while uniting himself with all, may still obey himself alone, and remain as free as before. How to cite Rousseau as Totalitarian?, Essay examples

taj mahal Essays (315 words) - Grammar, Rhetoric, Essay, Copula

For this Peer Review Discussion Board, all students will need to do the following things: 1. Each student will need to create a new thread and attach a copy of his/her essay for review by classmates. Remember that since others are reading the essay, it is important that you always make sure you choose to write about things that you do not mind if others read. You will only receive credit for complete drafts that are a minimum of five full paragraphs. 2. Cut and paste the following questions into your response and thoughtfully and clearly answer the questions concerning the paper you are reviewing , be as helpful as possible to the author of this draft. Use complete sentences and specific examples. What is the essay's dominant impression or thesis? What points does the writer emphasize in the introduction? Should any other points be included? If so, which ones? Would you characterize the essay as primarily an objective or subjective description? What leads you to this conclusion? Point out some examples fo figures of speech. Could the writer use figures of speech in other places? If so, what and where? What specific details does the writer use to help readers visualize what is being described? Where could the writer have used more details? Would a visual have helped readers understand what is being described? Are all the details necessary? Can you identify any that seem excessive or redundant? Where could the writer have provided more details to support the thesis or convey the dominant impression? How are the details arranged? What other arrangement could the writer have used? List some transitional words and phrases the writer uses to help readers follow the discussion. Which sentences need transitional words or phrases to link them together with other sentences? Do any sentences contain misplaced or dangling modifiers? If so, which ones? How effective is the essay's conclus

MILLS Surname Meaning and Family History

MILLS Surname Meaning and Family History The MILLS surname is a last name often bestowed originally on someone who worked in a mill (occupational) or lived near a mill (descriptive). The name derives from the Middle English mille, milne, coming from the  Old English mylen and  the Latin molere, meaning to grind. The mill served a crucial role in most medieval settlements, built to pump water or grind grain. Another possible meaning derives from the Gaelic Milidh, meaning soldier.   See also the MILLER surname. Surname Origin: English, Scottish Alternate Surname Spellings:  MILNE, MILL, MILLIS, MILLE, MILNE, MULL, MILLMAN, MULLEN, MUELEN, VERMEULEN, MOULINS, DESMOULINS Famous People With the Surname MILLS John Mills (born  John Lewis Ernest Watts Mills) - Beloved English actorC. Wright Mills - American sociologistHayley Mills - English actress and daughter of Sir John MillsJohn Stuart Mill - 19th century social and political philosopherJames Mill  (born James Milne)  - Scottish philosopher, historian, and economist  Darius Ogden Mills - American banker, philanthropist and Gold Rush adventurerBertram Wagstaff Mills - British owner of the Bertram Mills Circus Where Is the MILLS  Surname Most Common? According to surname distribution from  Forebears, the Mills surname today is most prevalent in the United States. Its use is fairly evenly distributed across the country, with a slightly higher incidence in some of the states where early milling was common, including North Carolina, Kentucky, West Virginia, and Indiana. Surname maps from  WorldNames PublicProfiler  indicate the Mills surname is especially common in Australia, New Zealand, and the United Kingdom. Within the UK, Mills is found in greatest numbers in England and Northern Ireland. Genealogy Resources for the Surname MILLS Tips and tricks for researching your MILLS ancestors online. Mills FamilyTreeDNA Project WebsiteThe Mills DNA Surname Project began in October of 2002 and has a large number of participants collaborating in using DNA testing in combination with traditional genealogy research in an effort to identify their common MILLS ancestors. Men with surnames such as  Mills,  Miles, Mull, Milne, Desmoulins, Mullins, Meulen, Vermeulen and Moulins men are encouraged to participate in this Y-DNA surname project. Genealogy of a Mills FamilyA genealogy for one branch of the Mills family that migrated from Virginia to New Hampshire and Maine, compiled by several researchers of the Mills family. Mills  Family Crest - Its Not What You ThinkContrary to what you may hear, there is no such thing as a Mills  family crest or coat of arms for the Mills surname.  Coats of arms are granted to individuals, not families, and may rightfully be used only by the uninterrupted male-line descendants of the person to whom the coat of arms was originally granted. MILLS  Family Genealogy ForumSearch this popular genealogy forum for the Mills  surname to find others who might be researching your ancestors, or post your own Mills query. FamilySearch - MILLS  GenealogyExplore over 4  million  results from digitized  historical records and lineage-linked family trees related to the Mills surname and variations on this free website hosted by the Church of Jesus Christ of Latter-day Saints. GeneaNet - Mills  RecordsGeneaNet includes archival records, family trees, and other resources for individuals with the Mills surname, with a concentration on records and families from France and other European countries. The Mills Genealogy and Family Tree PageBrowse genealogy records and links to genealogical and historical records for individuals with the Mills surname from the website of Genealogy Today. References: Surname Meanings Origins Cottle, Basil.  Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967.Dorward, David.  Scottish Surnames. Collins Celtic (Pocket edition), 1998.Fucilla, Joseph.  Our Italian Surnames. Genealogical Publishing Company, 2003.Hanks, Patrick and Flavia Hodges.  A Dictionary of Surnames. Oxford University Press, 1989.Hanks, Patrick.  Dictionary of American Family Names. Oxford University Press, 2003.Reaney, P.H.  A Dictionary of English Surnames. Oxford University Press, 1997.Smith, Elsdon C.  American Surnames. Genealogical Publishing Company, 1997.

How to Ask for What You Want at Work

How to Ask for What You Want at Work It’s a fact of life that you will rarely be handed exactly what you want in in your career. It’s up to you to take control of your future and move it in your most ideal direction–if you sit around and wait for people to take notice and reward you, you might be waiting for a long time. If you’re feeling undervalued at work, here’s a surefire plan to organize your thoughts and make a plan before you approach the powers that be.Put into words what is making you unsatisfied. Do you feel your salary is too low? Are your hours too inconsistent? Do you despise working with a specific client?The first step will lead you to the next–and most important–step: identify exactly what it is you want. A raise? A better shift schedule? To be relived of your client? Be specific–it is important to have a concrete goal you can clearly express.Next, envision how your work life will be better if your ideal situation comes true. How might this change make you more valuable to your employer? What are the major selling points you can offer for making this change?Finally, create a plan and put it into action. What is the best method in your workplace for making a change? Send that email or make that call, set up a meeting, and put your best foot (and argument) forward.Even if making and implementing a detailed plan does not lead to your ideal results, your voice and demands will have been heard. If nothing else, a proactive attitude always lets your supervisors know you’re serious about your future.

The Engineering Field Research Paper Example | Topics and Well Written Essays - 1250 words

The Engineering Field - Research Paper Example Civil engineering is one of the oldest fields in engineering that arose out of the many challenges that humanity experienced in the early days. Civil engineers are concerned with overseeing the construction of tunnels, roads, bridges, airports and many other infrastructures. In the course of their job, civil engineers take account of several factors just to ensure that the final product meets the standards expected. This is done taking account of the fact that the products are normally expected to last for several years and withstand many environmental challenges. In that regard, the engineers will normally consider factors such as the best design to use, the environmental conditions, the lifetime expected from the infrastructure and even government regulations. Civil engineering itself incorporates many different specializations that are in one way or another related to one another. These disciplines have gradually evolved over time as new realities forced engineers to seek better w ays to cope. Some of the major components of civil engineering include structural, environmental, geotechnical water, construction and urban planning. Normally in practice these fields relate to each other as engineers do their work. The most conspicuous field that comes to mind whenever someone talks about civil engineering is structural engineering. Here, engineers are faced with the difficult task of designing enduring structures that will resist all the environmental confrontations. They must use the appropriate materials to ensure the work is properly done. On the other hand, the knowledge of environmental engineers become almost indispensable as we try conserve the few resources that continue to diminish as the world’s population continue to surge. Their main concern is to provide a safe environment for humanity despite the pollution, to provide better ways of disposing our hazardous waste and how to manage the world’s water resources for us and for the posterity . Geotechnical engineering is concerned with those infrastructural facilities that are below the ground or dealing with the soil. A geotechnical engineer will therefore analyze such aspects as the type of soil, the stability of the ground, slopes and the quality of the rocks in a given area to determine whether they can support structures like tunnels, sewage systems, dam embankments and other infrastructure. A construction engineer on the other hand is concerned about all forms of transport infrastructure like roads, highways, railroads, airports etc. All these areas will no doubt require the best of minds given that quality should never be compromised in engineering. The most important aspect to note is that engineering is never a solitary venture. It is all about interdependence of different disciplines like architecture, survey and other areas all of which combine to give the knowledge that we seek in advancing humanity forward. List specific core (junior and/or senior) courses which are of the most interest to you and why. Also include three schools which offer the program.