Discussion 2 Week 1 Impact of Financial Concepts Assignment

Discussion 2 Week 1 Impact of Financial Concepts - Assignment Example This means you would be responsible for paying taxes on money that you may not have even received yet. On the flipside, expenses can be incurred before you actually pay them out – meaning you can reduce your tax liability before paying out. This is at the core of finance. The time value of money tells you that $1 today is worth more than $1 tomorrow. The reason is because you can invest that $1 today and have it be worth more tomorrow. What does this mean for your business? You want to hold onto your money as long as possible and receive money as quickly as possible. You can do this by paying your bills right before they are due and finding ways to have your customers pay you as soon as possible. Keep in mind this ignores other psychological factors like your vendors being happy if you always pay them immediately (which could lead to more flexible payment terms or even discounts). The more risk you take, the more return you should expect. If given two options with the same return, you should always choose the option that has the least amount of risk. Likewise if given two options with the same level of risk, you should always choose the option that has the highest return. Opportunity cost is the cost associated with choosing one option and forgoing another. For example, a high school graduate has the option of going to college or working full time. If she chooses college, the cost of her decision isnt just the cost of tuition and books, but the money she is missing out on by not working fulltime for four years while she is in school. If she chooses to work full time, the opportunity cost is the amount of money she would have made (in excess of her regular pay) for having a college degree for the rest of her life. So lets say she can make $10/hr without a college degree, or $15/hr with a college degree. She needs to take into account the $5/hr she will lose out on for the rest of her life by not going to college now. There are also

One of the significant characteristics of Australian Indigenous Essay

One of the significant characteristics of Australian Indigenous worldviews is a specific relationship to land or 'country' - Essay Example (Social Health†¦ 2004) These factors working as cushion during stressful circumstances provide a kind of protection when adversity falls on them. It helps restore social and emotional wellbeing of an individual at all levels. Languages and Country Aborigines identify themselves through their lands, languages and their relationships with others. At the time when European arrived, there were almost 600 groups around the continent with distinct beliefs and cultures. They had their country boundaries spread from lush green areas to stark desert surroundings. Depending upon the environment and their requirement they developed different skills with specific experience. Hundreds of dialects and languages existed during arrival of Europeans, though many of them are now extinct. The Indigenous cultures of Australia are considered one of the oldest dating back to around 50,000 years. The reason for the survival of aboriginal cultures lies in its adaptability to change over time. The attac hment to their surroundings is the prime reason for their survival for thousands of years. They keep their cultural heritage alive by passing it from one generation to another. Their cultural heritage speaks about their rituals, dance, hunting practices, their languages, their significant sites, and their spiritualism, which evolved in their land that they love very much. (Kohen 1995) Country is special for the well being of Australian aborigines. Land is simply not rocks or soil for them but the whole milieu is important to them in sustaining their existence and growth. Their land is also a cause for their spirituality. Aborigine Tom Dystra tells, "We cultivated our land, but in a way different from the white man. We endeavored to live the land; they seemed to live off it. I was taught to preserve, never to destroy.† (Australian Indigenous†¦) To have a clear grasp about social and emotional wellbeing, it is important to fathom the varied cultural dimensions of Australian aborigines. Aborigines love their land, their cultures and their whole set of traditions and that in totality constitute their life. It will be most appropriate to understand why and how the indigenous people get impacted by modern day science and technology, environmental disturbances. The story of Shelburne Bay in north-east Cape York Peninsula is worth exploring, in order to understand the love of Wuthathi people, the aborigines, for their land. Shelburne Bay is fortunate enough that it has not been much disturbed by active parabolic silica sand dune systems. Clean and warm waters constituted eight species of sea grass and an enviable space for dugongs and green turtles. Wuthathi people believed in managing their own land and fulfilling their community development aspirations. The formation of Wuthathi Land Trust and community ranger programs should be seen in that perspective. Shelburne Bay had been a cynosure of many eyes for a space base at Temple Bay besides having plans for a silica sand mine near Cape Granville. These and many other threats made Wuthathi natives to unite. In their support, as mentioned by Nursey-Bray (2004), were the Wilderness Society and the Australian Conservation Foundation and their joint efforts along with a strong campaign resulted