Jim Casy as a Jesus Christ Figure Essay

In John Steinbeck’s The Grapes of Wrath, Steinbeck uses several characters and situations to symbol something greater. The character, Jim Casy, is portrayed as an allegorical figure that represents Jesus Christ. Casy’s ideals and beliefs are very similar to those of Jesus Christ. Jim Casy is used to represent Jesus Christ, and to give the people going through a hard time a glimpse of hope and strength. Steinbeck portrays Jim Casy as Jesus Christ. The first notable comparison between them would be their initials. Both Jesus Christ and Jim Casy have the same initials. They also both have a strong love for humanity and saw the good in people. Jim Casy let people around him know that it shouldn’t be God that they should lean on, but on each other. In the novel, he says, â€Å"It’s love. I love people so much I’m fit to bust, sometimes. † (23) This showed that Casy wanted people to lean rely on each other. He believed that people struggling together was by far better than one person struggling alone. Both Jesus Christ and Jim Casy go to the wilderness to get their thoughts and beliefs together. Casy’s main goal was to find the meaning of â€Å"holy†. Casy tells the Joad family, â€Å"An’ I went into the wilderness like Him, without no campin’ stuff. † (81) While in the wilderness, Jim Casy realizes that holy is when mankind is united as one. He believed that every person was just one piece of a universal soul and that people could only be holy if they were united. Both Jesus Christ and Jim Casy also sacrificed themselves to protect others. Tom Joad, who already committed the crime of breaking his parole and leaving Oklahoma, knocked out a deputy. He was then instantly put in the danger of going back to prison. Jim Casy selflessly offers to take the blame and go to jail instead of Tom so that Tom would be able to lead the family. Lastly, both Jesus Christ’s and Jim Casy’s beliefs are spread after their deaths. When Jim Casy is brutally murdered, Tom Joad vows to spread Casy’s beliefs onto more people. Jesus Christ and Jim Casy share many similarities, a few being in their names, their love for humanity, their wilderness experiences, and their sacrifices. Steinbeck portrays Jim Casy as Jesus Christ in order to show that people working together will give them hope and strength. Steinbeck sends the message that people must always look towards a brighter future and stick together. He says, â€Å"But when they’re all workin’ together, not one fella for another fella, but one fella kind of harnessed to the hole shebang-that’s holy. † (81) Although the Okies were being driven off their land, Casy worked hard to get the people to work together. One of the many ways Casy reaches out to people is by taking the blame and going to jail instead of Tom. By doing so, Tom was able to carry on with his journey and guide his family as well. This gave people the incentive to start working together and relying on each other. Casy desperately wanted to give his people some hope and spirit that would allow them to look towards a brighter future. Casy says, â€Å"I gotta see them folks that’s gone out on the road. I got a feelin’ I got to see them. They gonna need help no preacher can give ‘em. † (52) Casy knew that his purpose in life was to help those people in need. Therefore, he took every opportunity he could to help. He organized a group of migrants to picket outside a peach picking camp. By working together, the migrants managed to keep reasonable wages for their work. Even though he knew the risks of going to jail if there was ever a leader, he still did not stop fighting for his people. Jim Casy fought for his people till death. His message, however, remained alive and touched the hearts of many of the Okies. Before Tom leaves his mother, he says, â€Å"But I know now a fella ain’t no good alone. † (418) This showed that Casy was successful in spreading his message. He was able to make Tom realize the importance of a community during desperate times. Though Tom was just one person, he was sure that his people would soon get his message. Steinbeck portrays Jim Casy as Jesus Christ in order to emphasize the importance of unity in a community and also to give people enough hope and strength to allow them to carry on. Jim Casy is a symbol of Jesus Christ. He is used to give his fellow people hope and strength by working together. He has several similarities with Jesus Christ in his life and even in his death. His beliefs and ideas provide hope and strength for those in need. Steinbeck used Jim Casy to give the Okies some spirit to carry on and look forward to a brighter future.

Andrew Jackson Campaign Speech of 1828 Essay

My fellow Americans, the upcoming national elections present a very important choice. We can forge a â€Å"true† representative democracy for the first time in history, and be led by our directly elected leaders. Or we can continue to live in an aristocratic republic run by over-educated elitists who are not beholden to the will of the people, but only to themselves. As you all know, three years ago I won the popular vote for President, but was denied the office because of a â€Å"corrupt bargain† between the dishonorable Henry Clay and President Adams. The people’s choice was disregarded by the elite in power. As a result, I immediately resigned from the Senate and returned to Tennessee, where the legislature immediately nominated me for President again. I have spent the last three years preparing to right this terrible wrong and take back the people’s power to choose their own leaders. My opponent Mr. Adams dismisses me as a â€Å"military chieftain. † I have fought two wars for this country, and I am proud of it. I think one of the most important qualifications a President should have is a military background. We were invaded by the British only 15 years ago. That enemy is still in the Canadas agitating Indians to attack us, and waiting for another chance to invade. We have foreign enemies at our every border. Don’t forget the Spanish forces just to the south in Florida, and Mexico to the west, and Indians constantly raiding settlements all along the frontiers. These foreign threats are many and dire, and we need a President who has the experience to defend our nation against them. There are threats to our nation from within as well. The Second National Bank is a threat to our economic well-being. President Adams and Vice-president Clay both support the bank claiming that it provides stability. I say it does great harm to the average American. It is a financial monopoly controlled by a few wealthy easterners. It controls the credit for the entire country, prints paper money of dubious worth, and it is just plain unconstitutional. Out west thousands of ordinary shop keepers, millers, farmers and other business owners cannot get the currency and the loans they need to run their concerns. How do you develop and grow the economy of a new state without currency, or worse yet, with paper currency of dubious worth? I say let us do away with all paper money, I do not trust it. Gold and Silver coin have intrinsic and eternal value, paper does not. We should also rely on our local and state banks, run by the people who live in and understand our communities, to control the currency needed for commerce, not some faceless, monopolistic national bank. Another threat from within are the abolitionists. They care about one issue only, and would tear the nation apart to get their way. Slavery is necessary to the economy of the south. If we outlaw it, we will make criminals of thousands of slave owners overnight, and collapse all of the southern states’ economies. How will southern families feed and clothe themselves without their labor force? I say let the people and their states decide this issue for themselves. Many northern states have already outlawed slavery, and one day the southern states may follow. You cannot force a cultural change like this on people; you must let them come to it in their own way and time. That is the nature of democracy. President Adams is afraid of internal threats as well. His biggest fear is YOU! The people of this nation, the ordinary citizens of the United States are the gravest threat he faces. Our President doesn’t trust us. To him, we are the unwashed, ignorant masses who, given the chance, would run the country into the ground. The president has stated many times that he believes his precious republic will soon â€Å"degenerate into democracy; that government of the people will become government by the people. † I say it’s about time. I say â€Å"we the people† built this nation. We have marched across the continent, scratching out a living, and burying our children along the way to do it. I say â€Å"we the people† understand better than anyone what it takes to make this nation grow and prosper. I trust the common people of this nation, because I am one of the common people. I am not yet another wealthy land owner from Virginia, nor am I an aristocratic lawyer from Massachusetts. I am a just an old Indian fighter from Tennessee. I believe â€Å"we the people† who have sacrificed the most for this great nation have earned the right to govern it. But I need your help to make this happen. Already, the new states are entering the union with few restrictions on the vote. This has caused many the old states to change their ways as well. Eighteen of our states now choose their electors by popular vote, while only six still allow the legislature to choose their representatives for them. I urge you all to go to the polls on Election Day. With this election we can finally take back power from the old aristocracy. We can establish the legitimacy of majority rule based upon direct voting for candidates by the electorate, and guarantee preservation of the Union, with states’ rights as the fundamental basis of American liberty. This is the dawn of a new day for democracy and modern American politics. Please vote on Election Day. Thank you.

Role of Icb in the Development of Capital Market in Bangladesh: a Performance Evaluation of Icb Sponsored Mutual Funds

INTERNSHIP REPORT Dept. of Business Administration Shah Jalal University of Science and Technology, Sylhet. INTERNSHIP REPORT Role of ICB in the Development of Capital Market in Bangladesh: A Performance Evaluation of ICB Sponsored Mutual Funds Supervisor Ms. Nafsaniath Fathemaf Lecturer Department of Business Administration Shah Jalal University of Science and Technology, Sylhet. Submitted By Muhamad Abul Lyse 4th Year 2nd Semester (2nd Batch) Reg No: 0099730014 Dept of Business Administration Shah Jalal University of Science and Technology, Sylhet Date of submission: July 06, 2006 Date July 06, 2006 It is an immense pleasure for me to certify that this internship report entitled â€Å" Role of ICB in the Development of Capital Market in Bangladesh: A performance evaluation of ICB sponsored mutual funds† submitted to the department of Business Administration, Shah Jalal University of Science and Technology, Sylhet is an original work done by Muhammad Abul Lyse, a student of BBA 2nd Batch of Department of Business Administration, bearing the Registration number 0099730014. He has successfully completed the internship program at Investment Corporation of Bangladesh (ICB) and prepared this report on the aforesaid title under my supervision. I wish him every success in his endeavors. Signature: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Ms Nafsaniath Fathema Lecturer, Dept. of Business Administration Shah Jalal University of Science and Technology Sylhet-3114. July 06, 2006 Ms Nafsaniath Fathema Lecturer, Dept. of Business Administration Shah Jalal University of Science and Technology Sylhet-3114. Sub: Submission of internship report Dear Madam, Have the pleasure in submitting my internship report titled â€Å"Role of ICB in the Development of Capital Market in Bangladesh: A Performance Evaluation of ICB Sponsored Mutual Funds . As an integral part of my BBA degree, I have been assigned to work on the topic, with a view to well integrate the theoretical knowledge I have learned throughout my four years of study and thus to fine tune these knowledge with practical work experience in a financial institution like ICB, the pioneer and largest Investment Bank of the country. The Internship Program was very much valuable as it helped me to gain a real life experience working in a professional environment. I tried my best to get an in depth coverage of the topic and emphasized on using authentic data I am grateful to you for your kind suggestion and helpful advice in preparing this report. Once again, thank you very much indeed for giving me the opportunity to work under your kind supervision. Yours Sincerely Muhammad Abul Lyse Reg. NO: 0099730014 Department of Business Administration (2nd Batch) Shah Jalal University of Science and Technology, Sylhet. Contents part one Chapter one : iNTRODUCTION CHAPTER TWO: icb and ITS FUNTIONS CHAPTER tHREE: role OF ICB IN THE CAPITAL MARKET OF BANGLADESH CHAPTER FOUR: PERFORMANCE OF icb CHAPTER FIVE: SUBSIDIARY COMPANIES OF ICB part two CHAPTER ONE: ICB SPONSORED MUTUAL FUNDS CHAPTER TWO: findings and recommendations of an actiOn an PLAN Detailed contents pART ONE CHAPTER 1: iNTRODUCTION 1. Objective of the Study1 2. Scope of the Study1 3. Methodology of the Study2 4. Limitations of the Study4 CHAPTER TWO: ICB AND ITS FUNCTION 1. Background of the ICB5 2. Objectives5 3. Functions of ICB6 4. Business Policy7 5. Capital Structure7 6. Share Price of ICB8 7. Share holding Position of ICB9 8. Products of ICB11 9. ICB at a Glance14 10. Investors Scheme of ICB16 11. Organization Structure of ICB20 12. ICB Mutual Funds22 13. ICB Unit Funds23 14. Development Activities of ICB27 CHAPTER THREE: ROLE OF ICB IN THE CAPITAL MARKET OF BANGLADESH 3. 1 Capital Market28 3. 1. 1 Role of Capital Market in the Economic Development of a Country28 3. 1. 2 Investment Process29 3. 2 Financial Market30 3. 2. 1 Objective of the securities Market30 3. 2. 2 The Role of Government30 3. 3 Financial Market of Bangladesh31 3. 3. 1 Money Market32 3. 3. 2 The non-Securities segment of the Capital Market32 3. 3. 3 The Securities-segment of the Capital Market32 3. 4 The Elements of Security Market33 3. 5 Creating a Supply of Good Securities in Market333. 6 The Origin and development of Capital Market in Bangladesh33 . 7 The Present Scenario of Bangladesh Capital Market35 CHAPTER FOUR: PERFORMANCE OF ICB 4. 1 Role of ICB in the Capital Market of Bangladesh36 4. 2 Operational Activities of ICB41 4. 2. 1 Consideration of Applications41 4. 2. 2 Commitment42 4. 2. 3 Disbursement 46 4. 2. 4 Loan Portfolio47 4. 2. 5 Trustee, Custodian, and Issue Manager48 4. 2. 6 Lease Financing49 4. 3 Portf olio Management50 4. 4 Other Operational Activities51 4. 4. 1 Advance against ICB unit and Mutual Fund certificates Scheme51 4. 4. 2 Consumer Credit Scheme52 4. 4. 3 Merchandising Operations52 4. 4. 4 ICB Mutual Fund52 4. 4. Transaction of Securities53 4. 5 Participation in International Activities53 4. 5. 1 ICB’s involvement with South Asian Development Fund (SADF)53 4. 5. 2 Investment in South Asia Regional Fund (SARF)54 4. 6 Financial Result of ICB 55 4. 6. 1 Total Expenditure56 4. 6. 2 Net Income56 4. 6. 3 Dividend57 4. 6. 4 Some Key Financial Ratios58 CHAPTER FIVE: THREE SUBSIDIARY COMPANIES OF ICB 5. 1 Subsidiary Companies of ICB595. 2 ICB Capital Management Limited (ICML)59 5. 2. 1 Background of ICML 5. 2. 2 Vision of the Company59 5. 2. 3 Mission of the Company60 5. 2. 4 Some Salient Features of ICML investors’ Scheme60 5. . 5 Advantages of ICML Investors’ Scheme61 5. 2. 6 Margin Loan61 5. 2. 7 Financial Performance of ICML63 5. 3 ICB Asset Management Li mited (AMCL)63 5. 3 ICB Securities Trading Company Limited (ISTCL)66 PART TWO CHAPTER ONE: ICB SPONSORED MUTUAL FUNDS 1. Some key issues of Mutual funds 68 1. Definition of Mutual Funds 68 2. Types of Mutual funds 68 2. ICB Mutual Funds 69 1. Nature of Business 70 2. How to buy existing Mutual funds 70 3. Management of the funds 70 4. Assets of ICB Mutual funds 70 5. Management fee, Charge etc. 71 6. Declaration of Dividend 71 3. Operational Highlights of ICB Mutual Funds 72 4. Financial Statement Analysis of ICB’s Mutual Funds 76 1. Earnings Per Share (EPS) 76 2. Dividend Per Share 78 3. Dividend Payout Ratio 79 4. Earning Yield Ratio 80 5. Dividend Yield Ratio 81 6. Price Earning Ratio 82 CHAPTER TWO: FINDINGS AND recommendation 1. Finding about The Capital market of Bangladesh83 2. 1. 1 Lack of Confidence83 2. 1. 2 Frequent Monetary Change83 2. 1. 3 Liquidity Crisis84 2. 1. 4 Volatile Market Situation84 2. 1. 5 Absence of good Securities85 2. 1. 6 Absence of Government initiative85 2. 1. 7 Market Maker85 2. 1. 8 Awareness85 2. 1. 9 Lack of knowledge85 2. 1. 10 Mass Participation86 . 2 Findings about Investment Corporation of Bangladesh86 2. 2. 1 Services stopped by ICB86 2. 2. 2 Unfair dividend Policy of Mutual funds86 2. 2. 3 Irredeemable Mutual funds87 2. 2. 4 Absence of efficiency in Portfolio management of MF87 2. 2. 5 Lengthy Processing87 2. 3 Recommendation of an Action Plan88 2. 4 Conclusion 90 Bibliography 92 Acronym and Appendices I. Appendix : Or anagram of ICB II. Appendix: Balance Sheet and Income Statement of ICB Executive Summary Investment Corporation of Bangladesh (ICB), established in 1976, is virtually the only Investment Bank in Bangladesh. In a broader sense, ICB is both an investment Bank and Development Financial Institution. (DFI). ICB plays a pivotal role to encourage and broaden the base of investment and thereby to help to develop a vibrant capital market in Bangladesh. ICB caters to the need of institutional support to meet the equity gap of emerging new companies. ICB works with a view to mobilise savings of general public and inspires small and medium savers for investment in securities. As s single entity, Government of Bangladesh holds majority shares of ICB (i. e. 27%). With diverse functions, ICB operates on commercial basis, provides financial assistance to projects subject to their economic and commercial viability and arranges equity and loans singly or through consortium of financial institution. Functions of ICB include; purchasing of shares and debentures including placement and direct participation, managing existing mutual funds and investment accounts, providing investment counseling to investors and helping government to its divestment programs. The following report titled â€Å"The Role of ICB in the development of Capital Market in Bangladesh: A Performance Evaluation of ICB Sponsored Mutual Funds† contains a comprehensive overview of ICB with special emphasis on ICB’s role in the development of capital market in Bangladesh. Likewise, an analysis of ICB sponsored Mutual funds is made with detail financial analysis as ICB since its inception, have been performing a pioneering role in the capital market of Bangladesh by managing the portfolios of ICB’s eight mutual funds. Since 1980, ICB floated a total of eight mutual funds with paid up capital of Tk 17. 0 crore. After taken a restructuring program of ICB under Capital Market Development Program (CMDP) initiated by the government of Bangladesh and the Asian Development Bank (ADB) and in terms of power conferred in the ICB ordinance three subsidiary companies, namely (1) ICB Capital Management Limited (2) ICB Asset Management Company Limited and (3) ICB Securities Trading Company Limited have been created and made operational to carry out merchant banking, mutual fund operations and stock brokerage functions respectively. The report is divided mainly into two parts. Part One contains a comprehensive coverage of ICB with its role in the development of capital market in Bangladesh and Part Two establishes part one by analyzing the ICB sponsored Mutual funds as ICB plays a central role in the capital market of Bangladesh by managing its eight mutual funds. Part One consists of Four Chapters. Chapter One includes the objective, scope, methodology and limitations of the study. Chapter Two describes historical background, objectives, business policies, functions, capital structure and products of ICB. Chapter Three explain the financial market and various segments of financial market of Bangladesh. The chapter also establishes the role of ICB in the development of Capital Market in Bangladesh. Chapter Four illustrates the performance of ICB. Chapter Five includes a description of three subsidiary companies of ICB. Part Two consists of two chapters. Chapter one evaluates the ICB sponsored mutual funds. This chapter initially deals with some theoretical concepts of mutual funds and then an in-depth financial performance of ICB mutual funds. Chapter two includes some findings of the study with recommendation of an action plan. The report ends with a bibliography and an appendix. Acknowledgments I would like to express my gratitude to Dr. Md. Nazrul Islam, Head and Associate professor of the Department of Business Administration of Shah Jalal University of Science and Technology, Sylhet and All of the Teachers of the Department especially to my supervisor Ms Nafsaniath Fathema who constantly inspired, supervised, and encouraged me with valuable advice and cooperation through the whole period of my internship Program. I would also like to express my special regards to Ms Nasreen Sultana, AGM of the Personnel Department, who allowed and gave me the opportunity to work in Investment Corporation of Bangladesh, the pioneer Investment Bank of the country. I am also highly grateful to the authority of ICB and all the AGMs of various departments who helped me a lot and cooperated me during my internship period. I am in pleasure to the express my gratitude to the internship and placement committee of the Department of Business Administration especially to the oordinator of the committee, Mohammad Imtiaz Ferdous, also the Assistant Professor of the Department of Business Administration. I would like to extend my special thanks to Ms Sharmin, Senior Principal Officer of Personnel Department, Subashis Chakrabarti, Assistant librarian of the ICB and all the respective officers of ICB for their cordial cooperation and helpful advice. As the first work of my life, I would bear this fond memory of ICB for the re st of my life. | | | | | | | | | | | | | | | | | | |PART ONE | | | | | | | | |CHAPTER ONE | | | | | |INTRODUCTIONS | | | | | | | | | | | | | | | | | | | | | | 1. 1 Objective of the Study Learning by doing is an effective way of acquiring knowledge. To have a real life exposure, each student of Department of Business Administration, of Shah Jalal University of Science and Technology has to carry out an internship program as an integral part of his/her BBA degree. Since, only the theoretical knowledge can not make one fit for increasing competitive situation of the world, the internship placement committee had placed me at ICB for a period of three months. Other objective of this study is as follows: ? To relate academic knowledge with real life business world. ? To have an overall idea about the role of ICB in the capital market of Bangladesh with a special emphasis on ICB sponsored Mutual Funds[1]. ? To analyse the profitability of ICB sponsored mutual funds. ? To find out prevailing drawback and lacking of ICB, if there is any, and recommend an action plan. 1. 2 Scope of the Study The scope of this report is only one organisation i. e. Investment Corporation of Bangladesh (ICB) and specially the Mutual Funds as it is the focus area of this report. It has been mentioned earlier, the main objective of the study is to analyse the role of ICB in the development of Capital market in Bangladesh with an emphasis on ICB sponsored mutual funds. The report gives an overview of ICB followed by a part on financial involvement of ICB. The report establishes the theoretical and conceptual framework comparing with which the capital market will be judged. There is one elaborate part that deals with the ICB sponsored mutual funds. The study will also present some problems of ICB observed during the internship coupled with some recommended action plan. 1. Methodology of the Study Methodology can be referred as underlying principles and rules of organization or the philosophical systems that work at the backdrop of any study. It clarifies the problems involving the research in a very ordered and systematic fashion. Strategies are det ermined at this stage for future implementation. In conducting any formal survey and preparing any research paper two kinds of data i. e. Primary Data and Secondary Data, are used. I tried my best to collect both types of data and information and have firm intention to emphasis on primary data as it is often up-to-date and more useful than any published information. Initially we collected raw data from departments of ICB and then sort out useful information relevant to my paper. Approaches and methods that have been used to prepare this report are as follows. 1. Personal interview: ICB has 25 departments and three subsidiary companies so far. I personally interviewed almost all AGMs of all departments and talked with the senior Principal Officer, principal Officer and other officer of concerned departments. 2. Briefing Session: Division heads (DGMs[2]) and department heads (AGMs) or their approved officials gave briefs about their respective departments. Information gathered from these sessions has been used in the report. 3. Published reports: a large amount of data are taken from the published sources such as ICB’s annual reports of previous years, Annual reports ICB Mutual Funds, Monthly review of Dhaka and Chittagong Stock Exchange. 4. Selection of the sample: the sample area of this study covers the head office of ICB. Since the central financial activities are done under surveillance of the Head office of ICB, so the selection of sample of this study is justifiable. Data collected from different divisions of ICB are all equally important segments of sample used in this study. ICB as a national investment institution has added a tempo in developing the capital market of Bangladesh. As a result of this importance the selection of ICB as the sample area of this study is presumably the demand of the time. 5. Time schemes: As stated earlier since the purpose of this internship program is an exposure to practical life, the ICB management has deputed me to all the division, departments, sections and cell to acquire hand-on-experience about each of them. I have visited the departments according to the following schedule. | |Name of the Departments |From |To | |   |   | |   | |1 |Personnel Department |27. 03. 2006 |28. 03. 006 | |2 |Secretary Department |29. 03. 2006 |   | |3 |Planning research and Business development Dept. |30. 04. 2006 |09. 04. 2006 | |4 |Management Information Dept. |10. 04. 2006 |12. 04. 2006 | |5 |Securities Analysis Dept. |13. 04. 2006 |16. 04. 2006 | |6 |Investor's Dept |17. 04. 2006 |19. 04. 2006 | |7 |Shares Dept. and reconciliation Cell |20. 04. 2006 |25. 04. 2006 | |8 |Unit sales Dept. |26. 04. 006 |27. 04. 2006 | |9 |Unit registration and collection Dept. |30. 04. 2006 |02. 05. 2006 | |10 |Mutual Fund Dept. |03. 05. 2006 |07. 05. 2006 | |11 |Central Acco unts Dept. |08. 05. 2006 |10. 05. 2006 | |12 | System Analysis Dept. |14. 05. 2006 |15. 05. 2006 | |13 |Programming Dept. |16. 05. 2006 |17. 05. 2006 | |14 |Loan Appraisal Dept/Lien Cell |18. 05. 2006 |21. 05. 2006 | |15 |SAARC Cell |22. 05. 006 |—- | |16 |Project Implementation Dept. |23. 05. 2006 |—- | |17 | Loan Recovery and Monitoring Dept. |24. 05. 2006 |25. 05. 2006 | |18 |Project Loan Account Dept. |28. 05. 2006 |—- | |19 |Public Issue Dept. |29. 05. 2006 |—- | |20 |Trustee Dept. |30. 05. 2006 |31. 05. 2006 | |21 |Law Dept. |01. 06. 2006 |04. 06. 2006 | |22 |Audit and Method Dept. |05. 06. 2006 |06. 06. 2006 | |23 |Department Control Dept |07. 06. 006 |—- | |24 |Establishment Dept. |08. 06. 2006 |11. 06. 2006 | |25 |public Relation Dept. |12. 06. 2006 |—- | |26 |ICB Asset Management Company Ltd |13. 06. 2006 |15. 06. 2006 | |27 |ICB Capital Management Ltd |18. 06. 2006 |20. 06. 2006 | |28 |ICB Securities Trading Ltd |21. 06. 2006 |2 6. 06. 2006 | Table 1. 1: Schedule of working at ICB 1. 4 Limitations of the Study Limitations are obvious in any study so do here. Since this is an internship report, the limitations regarding the internship programm has acted as the limitation of the study. The findings we figured out, and the recommendation we made may not be 100% accurate and may not represent the exact situation. Eventually, in completion of my study, a number of constraints and limitations I faced. These can be considered as follows: ? Performance analysis of ICB and its mutual funds may not represent the current condition of the organisation and its mutual funds as all the analysis are based on the data of June 30, 2005. Since the current year financial disclosures are not public yet, so the analysis is a little backdated. ? Officials of ICB maintain a very busy schedule. So they were not always able to provide enough time to enrich the intern students every time, even if they had the intention to do so. ? Due to security reasons and organizational privacy we didn’t have access to some core areas of ICB. ? I had to go almost every department of ICB during my three months internship programm at ICB. Three months is a very short span of time to get an in-depth knowledge about a giant organization like ICB. ? The area covered by the report â€Å"The role of ICB in the development of Capital Market in Bangladesh: A Performance Evaluation of ICB Mutual Funds† concerns a huge a number of activities and it is very difficult to sketch a total picture of the financial activities in a report of this short scale. | | | | | | | | | | | | | | | | | | | | | | | | | | | |CHAPTER TWO | | | | | |ICB AND ITS FUNCTIONS | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2. 1 Background of the ICB The investment corporation of Bangladesh (I CB) was established on 1st October 1976, under â€Å"The Investment Corporation of Bangladesh ordinance, 1976† (no XL of 1976). The establishment of ICB was a major step in a series of measures undertaken by the Government to accelerate the pace of industrialization and to develop a well organized and vibrant capital market particularly securities market in Bangladesh. ICB caters to the need of institutional support to meet the equity gap of the companies. In view of the national policy of accelerating the rate of savings and investment to foster self –reliant economy, ICB assumes an indispensable and pivotal role. Through the enactment of the Investment Corporation of Bangladesh (Amendment) Act 2000 (no 24 of 2000), reforms[3] in operational strategies and business policies have been implemented by establishing and operating subsidiary companies with ICB as the holding company. 2. 2 Objective As the country’s Pioneer Investment Bank, ICB has been working to assist the small investors in mobilizing their savings. ICB works with a view to broaden the base of the investment of the country, ensure mass participation of general people in the capital market and thus to contribute towards the GDP of Bangladesh. ? To encourage and broaden the base of investments ? To develop the capital market ? To mobilise savings ? To promote and establish subsidiary companies for business expansion. ? To provide for matters 2. 3 Functions of ICB To develop the capital market of Bangladesh, and mobilise the savings of small investors, ICB carry out a range of diversified functions. With a solid view to foster and accelerate the economic growth of the country, ICB provides all sorts of financial services to the potential sector. Ensuring equal distribution of economic benefits gained by the economy among the grass root level is one of the main objectives of ICB. Various functions of ICB can be mentioned as follows. Unlike any other financial institutions, ICB maintains a portfolio of the government comprised of different securities of listed companies and helps government advising regarding fiscal and monetary policy of the country. As a market maker it floats mutual funds, issues unit certificates, underwrites securities and manages issuance of securities. | | | |Underwriting of initial public offering of shares and debentures | | |Underwriting of right issue of shares | |Basic |Direct purchase of shares and debentures including Pre-I[4]PO placement and equity participation | |Functions |Providing lease finance to industrial machinery and other equipments singl y or by forming syndicate | |Of |Managing investors' Accounts | | |Managing Open End and Closed End Mutual Funds[5] | |ICB |Operating on the Stock Exchanges | | |Providing investment counseling to issuers and investors | | |Participating in government investment program | | |Participating in and financing of, joint-venture projects | | |Dealing in other matters related to capital market operations | | |Trusty, Custodian, Bank Guarantee | | |Consumer Credit | 2. 4 Business Policy The corporation has adopted a realistic business policy framework within which its operation is conducted. The corporation, acts on commercial consideration with due regard to the interest of industry, commerce, depositors, investors and to the public in general. | | | | |To provide financial assistance to projects subject to their economic and commercial viability. | |Business |To arrange consortium of financial institutions including merchant banks to provide equity support to | |Policy |projects and thereby spread the risk of underwriting. | |Of |To develop and encourage entrepreneurs. | |ICB |To diversify investments in securities. | |To create employment. | | |To encourage Investment in IT sector. | | |To encourage Investment in joint venture capital/project. | 2. 5 Capital Structure | Capital Structure of ICB -as on June 30, 2005 (Tk in crore) | |Authorised capital |100. 00 | |Paid up capital |50. 00 | |Reserve |84. 11 | |Retained profit |5. 6 | |Long term govt. Loan |5. 25 | |Debentures |61. 80 | |Others |24. 89 | |Total |231. 41 | Source: Drawn based on the data of ICB Annual Repo rt 2004-2005 Figure 2. 1 Capital Structure of ICB Share price of ICB Share price of for the last year was as follows: Fig 2. 2: 2. 7 Share holding Position of ICB Equity participation from a range of institution along with the government of Bangladesh has made the capital structure of ICB as a unique. Nationalised banks, Private commercial banks, Bangladesh Bank including the general public have ownership in ICB. |Shareholding position of ICB (as on June 30,2005) | |Shareholder |No. of share holder |No. of shares |Percentage | |Governments of Bangladesh |1 |1350000 |27. 00 | |Nationalised Commercial Banks |4 |1137220 |22. 4 | |Development Financial Institution |2 |681550 |13. 63 | |Insurance Companies |3 |618286 |12. 37 | |Bangladesh Bank |1 |600000 |12. 00 | |Denationalized Private Com Banks |2 |454263 |9. 08 | |Private Commercial Banks |3 |28286 |0. 7 | |Foreign Commercial Banks |2 |26531 |0. 53 | |First BSRS Mutual Fund |1 |6900 |0. 14 | |Other Institution |9 |26949 |0. 54 | |General Public |927 |70015 |1. 54 | | Total|955 |5000000 |100. 00 | Table 2. 2: Shareholding Position of ICB Source: Annual Report 2004-2005 [pic] Figure: 2. 3 Shareholding position of ICB 2. 8 Products of ICB Private Placements ICB is authorized to act as an agent of the issuers and investors for private placements of securities. Under this arrangement, ICB places securities to individuals/institutions on behalf of the issuer for which it charges fees. ICB also acquires shares/securities for its own portfolio both in pre-IPO placement and equity investment. Underwriting[6] In order to raise long term equity from the primary market, the government bodies, enterprises, corporations or companies may seek intermediary assistance from ICB in the form of underwriting. Because of its long and proven experience, reputation, asset back up and established network of regional offices, ICB is in an excellence position to attract the potential investors to the proposed issue of shares, debentures and other securities for successful flotation of IPO and placement. Custodian and Banker to the Issues To act as the custodian to the public issue of Open-end & Closed-end Mutual Funds, ICB provides professional services. It also acts as the Banker to the issues and provides similar services through the network of its branches. Fees in this regard are negotiable. Mergers and Acquisitions Companies willing to expand their business through mergers or acquisitions or o divestment projects that no longer viable into present capacity of operation can contact the Corporation. ICB provides professional services & advices in respect of shaping up the cost and financial structures to ensure best possible operational results. Besides, in case of divestment, the corporatio n, through network and established business relationship, bring buyers and sellers together, help them to negotiate final agreement and advice on the emerging corporate structure. Advance against Unit Certificates Scheme Advance against ICB Unit Certificates Scheme was introduced in 1998, especially designed for the ICB unit- holders to meet their emergency fund requirements. One can borrow maximum Tk. 5 per unit by depositing his/her unit certificates under lien arrangement from any of the ICB offices where from such unit certificates were issued. The rate of interest on the loan is reasonable and competitive. Corporate Financial Advice Government enterprises and Companies intending to go public issue often seek professional & financial advice on corporate restructuring & reengineering. ICB through its expertise provide such services through its expertise. Lease[7] Financing ICB Provides lease finance mainly for procurement of industrial machinery, equipment and transport. ICB prov ides professional advice and financial assistance to the intending clients. The period of lease, rental, charges, and other terms and conditions are determined on the basis of type of assets and the extent of assistance required by the applicants. Since introduction of this scheme in 1999, good responses have been received from the intending lessees. Trustee to the debenture and Securities assets ICB is acting as a trustee to the debenture issues and asset-backed securitised bonds. ICB acted as trustee to the issues of 17 companies of which 7 companies has been redeemed successfully. Bank Guarantee scheme ICB introduced Bank Guarantee scheme in 2002-03. ICB provides (i) Bid Bond for enabling the business people to participate in any tender or bidding; ii) Performance Bond for helping the business community to continue their business smoothly by fulfilling their obligations promised by them to their clients; and (iii) Customs Guarantee for solving different disagreements between the customs authority and the business classes at the initial stage. The maximum limit of guarantee is Tk. 2. 00 crore and would be issued against at east 20% cash and 80% easily encashable securities or against 100% cash margin. Re-guarantee from other financial institution is required for guarantee against the amount exceeding Tk. 2. 00 crore. Consumer Credit Scheme As part of business diversification program, ICB has introduced â€Å"Consumers Credit Scheme† in 2003-04 considering at the need of various household commodities of different employees of govt. , semi-govt. autonomous bodies and some established private sector organizations. Under this scheme one can enjoy minimum Tk 1. 0 lac but maximum 5 lac credit facilities. The rate of interest on the loan is reasonable and competitive which is fixed by the board of directors of ICB considering the bank rate and with the guidelines of Bangladesh Bank. 2. 9 ICB at a Glance |Particulars |Cumulative up to June 30, 2005 (Tk in Crore) | |Authorized Capital |100. 00 | |Paid up Capital |50. 0 | |Financial Assistance to projects (Commitment) | | |No of projects |431 | |Amount |536. 87 | |Disbursement of project loan | | |No of projects |308 | |Amount |114. 2 | |Trustee to debenture issue | | |No of companies |17 | |Amount |184. 15 | |Trustee to issue of bonds | | |No of companies |5 | |Amount |134. 6 | |Custodian/Trustee to issue of Mutual Funds | | |No of funds |4 | |Amount |60. 00 | |Manager to the issue | | |No of companies |41 | |Amount |104. 9 | |Lease financing | | |No of projects |34 | |Amount sanctioned |92. 93 | |Public Issue (ICB Assisted) | | |No of companies |111 | |Size of issue (General public) |368. 3 | |ICB Investors’ scheme | | |No of accounts opened |77207 | |Investment made |760. 82 | |ICB Mutual Funds | | |Number |8 | |Capital fund |17. 0 | |Total market value of investment |67. 66 | |Dividend per certificate in eight mutual funds for the year 2004-2005, ranges | | |from Tk 15 to Tk 210) | | |ICB unit fund | | |Gross sale |940. 8 | |Rate of dividend for the year 2004-05=Tk12 per certificate | | |ICB’s Transaction in the Stock Exchanges including subsidiaries | | |DSE |769. 90 | |CSE |268. 73 | Financial Results (For the year 2004-05) (Tk in crore) |Income |170. 38 | |Net profit after Tax |21. 3 | |Dividend (Tk per share) |12 | |Manpower (as on June 0,2005) |396 | |No of shareholders ( as on June 30, 2005) |955 | 2. 10 Investors Scheme of ICB Investor scheme is one of the core functions of ICB. Through investors’ scheme, ICB ensures Participation of small investors in the capital market of Bangladesh. The Investors' Scheme was introduced in 1977 with the objective of broadening the base of equity investment through mobilising savings of small and medium size savers for investment in the securities market. In addition to Head Office, Investment Accounts are also operated at the 7 branch offices of ICB located at Dhaka, Chittagong, Rajshahi, Khulna, Barisal, Sylhet, and Bogra. However in view of strategic changes in policy reform, from 01 July 2002 ICB stopped opening new accounts and ICB Capital Management Ltd. started opening and managing investment accounts. ICB will continue to provide services to its existing accounts only. Table 2. 3: Comparative operational activities of the investors’ scheme in 2004-2005 and 2003-2004 |Particulars |04-05 |03-04 |Increase/Decrease |Cum as on June 30, 2005 | | | | |(%) | | |No. f accounts opened | — | — | — |72207 | |No. of accounts closed |807 |776 |4. 26 |28327 | |No. of net operative accounts |48880 |49687 |-1. 62 |48880 | |Deposit received |22. 7 |27. 31 |-16. 62 |314. 87 | |Loans disbursed |159. 5 |58. 73 |171. 58 |707. 8 | |Investment Made |118. 26 |62. 91 |87. 98 |760. 82 | |Interest accrued |25. 09 |30. 48 |-17. 68 |— | |Interest waived |19. 06 |31. 26 |-39. 03 |55. 52 | |Recovery of margin Loans |179. 6 |103. 14 |74. 13 | —| |Fund withdrawal |40. 18 |13. 09 |206. 95 | —| Further steps were undertaken to enhance the quality and speedy service under the scheme like computerization of all activities and installation of merchandizing operation management software. This enables the management to offer better and quick service to the investors including instant supply of the financial statement, portfolio, balance of the accounts, etc. Installation of telephone banking system in Investors' Account enabling investors to collect information and operate their account over telephone was at the final stage of operations. Besides, installation of Electronic display system of DSE online trading on the floor of ICB has been set up. Through investors’ scheme ICB provides the following services. Authority of Operation An account may be operated by the account holder himself/herself or he/she may authorize to another A/c. holder of investors account of ICB by written consent in the prescribed form, some one else to operate the account on his/her behalf. In case of joint account holders, account may be operated by single or joint signatories or by authorised operator. Margin Loan Presently ICB grants loan up to two times i. e. at the ratio of 1:3 against the deposits of account holder(s) subject to a maximum of Tk. 3, 00,000. 00 to an account. However, management of ICB, at its discretion, may limit such loan. Loans are repayable as per repayment schedule given by ICB. In the event of default of loan repayment, the outstanding amount may be recovered by sale of securities held in the account. Portfolio Management The account holder may use his/her equity and the loan to buy securities which ICB keeps as collateral. Purchase and sale orders are executed by ICB within the shortest possible time, subject to the availability of fund in the account and scope of matching of buyers/sellers and securities in the stock exchanges. An account holder or his/her authorized person may place purchase/sale execution order in the prescribed form, indicating whether, the order is a limit order i. e. an specifying the max. /min. rice at which he/she is willing to buy /sale, or at a market price i. e. without any limit of price. The purchase and sale orders are valid for seven and ten days respectively, if not revalidated / cancelled otherwise by the account operator. Withdrawal of Securities/Funds All or any amount of fund or securities may be withdrawn from an accou nt subject to keeping of minimum credit balance of Tk. 5000. 00 in cash or in securities to keep the account running alive. Application against IPO All activities relating to application for securities and collection of allotment letter / refund warrant and certificates, as the case may be, against the IPO[8] are done by ICB on behalf of account holder. Collection of Securities and Benefits Right shares, bonus shares, dividends, interest, converted shares etc. accruing to an account are collected by ICB from the respective companies. Registration and custodial services Registration of shares/ securities with the company is made before the closure of the company's share / debenture transfer book, after completing all the required formalities, on behalf of the account holder. Volt and other custodial arrangement for assets of the account are provided by ICB. Counseling and data support In order to develop diversified and balanced portfolio to minimize risk and maximize profit, ICB provides professional advice to its clients. Data support in the form of securities analysis sheet, daily purchase/ sale position, statement and portfolio of each account, etc. are provided on demand and on regular interval. Income Incomes from investments by way of dividend, interest, bonus shares, capital gains etc. are credited to the respective account. Expense Interest on loan (currently-12. 5%) and brokerage (0. 5% for non CDS & 0. 5250% for CDS) on sale/ purchase of securities are charged to the respective account. To encourage the small and medium savers, ICB at present does not charge fees for most of the services rendered by ICB to its customers, including fees for management, investment advice, custodial service(for non CDS securities),etc. Closing of Account An account may be closed by written order subject to settlement of fees & dues, if any. There is no provision of revival of a closed account. Risk Management Risks of investments in the securities market are minimized through prudent & professional portfolio management. 2. 11 Organization Structure of ICB Management of ICB The head office of the corporation as per the requirement of the ordinance of ICB is located at Dhaka. The board of directors of ICB is very much rich as it consists of distinguished professional and managing director of other organization. The Board consists of 11 members including the Chairman and Managing Director. The Board of Directors consists of the following members. The Chairman and Managing Director (MD) are to be appointed by the government o The directors to be appointed by the government from among persons serving under the government. o One Director to be appointed by the Bangladesh Bank o The Managing Director of Bangladesh Shilpa Bank (BSB), ex offi ce. o The Managing Director of Bangladesh Shilpa Rin Shnagsta (BSRS) o Four other directors to be elected by the shareholders other than the government. ICB- its Divisions and Departments Investment Corporation of Bangladesh split, into 25 departments and 11 divisions in its head office. Beside that ICB has seven branches in different districts. These are situated at Dhaka (local office), Chittagong, Sylhet, Rajshahi, Khulna, Bogura and Barisal. ICB is functionally divided into two broad wings. One is operations wing and another is Administrative wing. The functions of operational wings involve the activities of project Financing, Planning Research and Business Development, Lunching Unit and Mutual Funds (launching if new funds is now stopped and currently the function is accomplished by ICB Asset Management Ltd), transaction and maintenance of Investor Accounts. The function of administrative Wing involve the activities of Account and Finance, Legal affairs, Implementation and Recovery, Project Implementation, Law and Public Issue. It is mentioned earlier, that ICB consists of 11 Divisions and 25 departments. The following table lists all the divisions and departments of ICB. An appendix at the pf the report contains the full Organ gram of ICB. Table 2. 4 |Division |Department | |A. Administration |01. Personel | | |02. Establishment | |B. Loan Appraisal |03. Loan Appraisal | | |04. Economic and Business Research | | |05. Securities Analysis | |C. Legal Affairs |06. Public Issue | | |07. Law | |D. Merchandising |08. Investors’ | | |09. Shares | | |10. Transaction | |E. Funds |11. Unit sales | | |12. Unit Registration and Procurement | | |13. Mutual Funds | |F. Computer |14. System Analysis | | |15. Programming | | |16. Management Information System | |G. Audit And Methods |17. Audit And Methods (Head Office) | | |18. Audit And Methods (Branches) | |H. Accounts and Finance |19. Central Accounts | | |20. Project Loan Accounts | |I. Implementation |21. project Implementation | | |22. Recovery and Follow-up | |J. Secretary’s |23. Secretary’s | | |24. Public Relation | |K. Branch and Subsidiaries control Division |25. Branch Control Department | 2. 11 ICB Mutual Funds It is a recognized principle that diversification of investment reduces risk. An individual may not have the time, expertise and resources to undertake such diversification. Here arises the advantage of a Mutual Fund. Mutual Funds pool the savings of a great number of investors and make investments in a wide array of securities. 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ICB Mutual Funds Certificates holders shall have unfettered ownership in the assets of the Fund to which they are related. In case of winding up of the Corporation the assets belonging to any ICB Mutual Fund shall not be treated as the assets of the Corporation. At present management fee @ 1% on the paid up capital of the Fund is charged annually. No amount is charged on account of custodial and trust services. The net income received on investments of Funds on account of dividend, bonus, interest, capital gain etc. are distributed amongst the Certificate Holders as per decision of the Board of Directors of ICB. Board declares such income in the form of dividend at the end of July each year. Dividends declared by ICB in the past on the Mutual Funds were very attractive. A detail analysis on ICB sponsored mutual fund will be followed on the second part of the report. 2. 12 ICB Unit Fund Sponsored by the Government of Bangladesh, ICB Unit Fund was established on April 10, 1981. Its main objective is to mobilize savings through sale of its units to small investors and invest these funds in marketable securities. The scheme provides a potential source of equity and debt to industrial and commercial concerns and thus contributes to the industrial development of the country. Unit fund is an open ended Mutual Fund. It provides an opportunity to the unit holders to invest their funds in a well managed and diversified portfolio with a high degree of security of capital and reasonable yearly returns. Investment in Units is safe and ensures a continuous and regular source of income for the holders. Units are easily encashable. As such, investment in Unit is comparatively more attractive. By investing in this scheme an investor may derive personal benefit on the one hand and also contribute towards the economic development of the country on the other. ICB units are securities within the meaning of Trust Act. 1882. Issue, Transfer and Surrender of Unit Certificates (I) Units are available in 1, 5, 10, 50, 100, 500, 1000, & 5000 denominations. The names with addresses of the holders are recorded and dividends are dispatched to them accorded and dividends are dispatched to them accordingly. II) Units may be transferred through prescribed transfer form duly filled in and signed by the transferor and transferee. No stamp duty is required for such transfers. (III) Units may be encased by way of surrendering the certificates along with the prescribed surrender forms duly filled in and sig ned by the registered holders and no prior notice is required. The certificates are required to be surrendered at the prevailing Repurchase Price. Price Fixation: Changes in repurchase prices of units are notified through the newspapers and price of a Unit is fixed periodically by ICB as its fund manager. Among others, valuation of the assets of the Fund is taken into consideration while fixing price of a unit. Public Participation The Fund is divided into units which are generally known as â€Å"ICB Unit†. Each Unit bears a certain value in the assets of the Fund. The Unit holders are the owners of the fund and only they are benefited from it. Unit certificates can be purchased in single or joint name (s). At present maximum of 10,000 Units can be purchased in a single or joint name(S) at a time. Units are not sold to institutions. Professional Counseling Professional Counseling is rendered to the prospective & existing investors who are eager to purchase ICB Units through ICB offices and authorized Bank branches. Presently this scheme is operated by ICB Asset Management Company Limited. Investment by Bangladeshi Citizens Abroad The Bangladeshi citizens living abroad may invest in certificates on fulfillment of the following terms and conditions: (I) The value of Units purchased is to be remitted through bank channel, (II) The money invested in Units and benefits thereon are not allowed to be repatriated, (III) The investors must mention their local and bank addresses in Bangladesh for convenience of registration of Units. Investment by Foreigners Residing in Bangladesh The foreign nationals residing in Bangladesh may also invest in Unit Certificates, provided they produce certificates to the effect that money being invested are their own savings and is not borrowed as loan or overdraft from any bank. These certificates are to be collected from a Gazetted Officer or a Banker not below the rank or Deputy General Manager. Fund Management The responsibility of managing the fund rests on ICB for which management fee @ Tk. 1. 25 per Unit (net outstanding) is charged. The Corporation also discharges the responsibility of loading and unloading of securities in and from the portfolio in the interest of the Unit holders. It is also the custodian of all assets of the fund. Dividend The total income earned on investment/ deployment of funds, net of expenditures incurred, in a financial year is distributed among the unit holders as dividend. Dividend is normally declared at the end of July each year by the Board of Directors of ICB. Dividend Warrants are dispatched soon after declaration of dividend. Since launching of the scheme in 1981 till FY 2004-05 the rates of yearly dividend declared/ paid are as under: Figure 2. 4: dividend performance of ICB unit fund The graph shows that the fund provides an attractive cash dividend each year to the highest of 25% in 1988-89 and to the lowest of 11. 01% in 2004-2005. Figure 2. 5: Dividend yield on ICB unit fund The graph shows a dividend yield on opening price of the unit fund. Tax Benefits (I) Investment in Units enjoys the benefit of Investment Allowance under Sec. 44 of Income Tax ordinance 1984. (II) Units are treated as approved securities in accordance with the Section 2993 of the Companies Act. 1994 and Insurance Act,   1938. These are also treated as Securities as per Sec. 20 of the Trust Act, 1882. Cumulative Investment Plan (CIP) Under this scheme a holder instead of receiving dividend may reinvest such dividend income accrued for purchasing Unit at a confessional rate. In such case, Units are issued at Tk. 1. 00 less than t he opening price of the financial year. 2. 13 Development Activities of ICB Equity support through consortium arrangement ICB inve

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The Use of Women Suicide Bombers - Essay Example This gift of life is to cherish not to be thrown away as Islam strictly forbids suicide and killing of innocent people. We must dedicate our lives to please Allah, and to also be kind and generous to our fellow human beings, rather than hurting a single soul, including ours. Human kind is created to revive and perpetuate life and preserve it in its best form. In one verse of the Koran Allah informs mankind, "And I (Allah) created not the jinn and mankind except that they should worship; Me (Alone)" (Surah Adh-Dhariyat Verse 56)  Ã‚  (Adedimeji, 2011). From this verse, it is evident that the purpose of our life is to worship God, and to live and let live. It is emphasized plenty of times in the Holy Koran, Ahadeeth (Traditions, teachings and Sayings of the Prophet Muhammad (Peace be upon him) and the Shariah (Islamic Law and Muslim way of living), that by transgressing the righteous path and the limits and boundaries set by God. Such kind of willful disobedience will only bring abou t displeasure and wrath of God.  These people will have to face the deadliest of punishments predestined for those who go astray and misled by the evil forces. These forces only believe in destruction, which is surely against the teachings and beliefs of Islam, which is a religion of Peace and Prosperity, not blood-shed and deadly war. There are a few very specific punishments expressed in the Koran against self-destruction. The Prophet Muhammad (SAW) also assigns suicide to the lower most levels of Hell. Allah says explicitly in the Koran, "And do not kill yourselves. Surely, Allah is Most Merciful to you" (Surah An-Nisa Verse 29) (Abdul-Rahman, 2009). In another verse of the Quraan, Allah says: "And do not throw yourselves into destruction" (Surah Al-Baqarah Verse 195) (Kotob, n.d.). The use of women for the purposes of self-sacrifice is new

Activity-based costing (ABC) in service industry Essay

Activity-based costing (ABC) in service industry - Essay Example However, it has often been argued that implementing such pricing strategies might prove to be quite challenging in case of service oriented companies in comparison to the product rendering companies owing to the greater involvement of intangible assets and liabilities. In this regard, various models have been developed with the intention to assist in determining the accurate costs incurred in following the entire process of delivering services to the ultimate customers. For instance, Activity Based Costing (ABC) can be regarded as an effective cost determination system that involves breaking up of the activities or the processes into individual activities (Shevasuthisilp & Punasathitwong, 2012). With this concern, this essay intends to present a brief overview of the ABC concept with reference to the business process executed by a large-sized service marketing company, Amazon.com. The discussion will thus address the benefits of time-driven ABC system for the selected service company along with the corresponding competitive advantages to be attained by the organization. The potential impact of such costing system will further be evaluated in the context of e-commerce based service company compared with that of the traditional system. Company Overview Amazon.Com, Incorporation was established in Washington, USA in 1994. The company primarily renders its services to its versatile customer range through retail websites. The company is one of the earliest service based organizations involved in e-commerce or the sale of various merchandise through e-commerce. Contextually, the online retail operation of the company is considered to be the core business activity of Amazon.com. The vision of the company depicts that Amazon.com intends to provide high quality services to its customers. The customers’ services operations of the company comprise internally and externally managed contact centers. The company further provides programs that allow sellers from around the world to market their products through Amazon.com offering its customers to access ‘in-the-cloud infrastructure services’. Furthermore, it has been observed that the company generates its revenues from online advertisements and other promotional activities. Notably, the recent activities of the organization reveal that even in the circumstances where its rivals are struggling with their survival in the market place, the company is thriving, boasting increasing revenue (Morningstar, 2009). Implementation of Time Driven ABC Costs System and Related Benefits (Amazon.Com) ABC cost system includes grouping of indirect costs on the basis of processes and certain activities performed within the value chain system of the company. Furthermore, these indirect costs are allocated to services rendered to the customers, proportionately to the volume of activities that gave rise to these indirect costs rather on the entire departments. However, many problems have been found to b e associated with the implementation of ABC model such as complexity issues, time-consuming technique and other problems related with the modification of the model. Contextually, time driven ABC involves time as the primary cost driver. Under this system, costs are directly allocated to costs objectives (Roztocki, 2010). At the initial step of time driven ABC system implementation, Amazon.com should critically determine the major purposes for implementing the procedure. The most common objective for implementing the ABC system is to gain efficiency in controlling the overall costs taking into account the overhead costs in measuring the profitability of the company. Contextually, overhead costs related with Amazon.com include rent, office expenses,

Alcoholism Essay Example for Free

Alcoholism Essay Alcoholism is an issue that affects a person as well as the society at large. Despite me not being an alcoholic, I have had friends and relatives who have had to deal with the issue. Alcoholism is a personal issue; however, it also affects the society in many ways. The society is directly and indirectly affected by people who overindulge and constantly abuse alcohol. Furthermore, people become alcoholics because of personal as well as societal issues. For example, a personal can become an alcoholic because of losing a close person; however, he can still become an alcoholic because of living in a society that has a poor economy which leads to frustration and depression. Alcoholism is a personal issue when it does not affect anyone else but the alcoholic; however, it becomes a social issue when it affects the society in various ways. The society becomes victim to alcoholism due to a number of reasons. For instance, many accidents are caused as a result of drunk driving. In addition, alcoholics can commit crimes such as theft in order to get money for drinking. Alcoholism can be solved when alcoholics address their personal issues instead of avoiding them through drinking. In addition, they can also go to rehabilitation centers where they can get treatment and be counseled on ways of dealing with their issues and how to avoid drinking. Solving the issue from a personal perspective also helps in solving it from a societal level. Alcoholism from a social standpoint can be treated by creating awareness and sensitization about the issue and the negative effects that it has on society.

Open Systems Interconnection (OSI) Essay Example for Free

Open Systems Interconnection (OSI) Essay Lab 2.1 Exercise 2.1.1 All these elements are necessary because each allows the other to function and do its job. Without Media the signal cannot transmit. Without Interface the computer cannot access the Media. Without the signal the electricity or copper wires cannot transmit information. Without Pattern there would be no established format for the signals. And timing lets the devices know when the pattern starts and ends. Exercise 2.1.2 Almost all networks in use today are based in some fashion on the Open Systems Interconnection (OSI) standard. The core of this standard is the OSI Reference Model, a set of seven layers that define the different stages that data must go through to travel from one device to another over a network. But the OSI is just a guideline. Exercise 2.1.3 The other networking services are: RIP Listener Simple TCP/IP Services UPnP User Interface Exercise 2.1.4 Wi-Fi wireless networks support ad hoc connections between devices. Ad hoc Wi-Fi networks are pure peer to peer compared to those utilizing wireless routers as an intermediate device. Exercise 2.1.5 Lab 2.1 Review 1) A peripheral device is an internal or external device that connects directly to a computer but does not contribute to the computers primary function. It helps access and use the functionalities of a computer. (ex. Mouse, flash drive, printer) Network devices are components used to connect computers or other electronic devices together so that they can share files or resources. (ex. Router, dsl filter, Ethernet cable) 2) The fewer amount of connections the fast the connection speed with the current connections. 3) A peer-to-peer (P2P) network is created when two or more PCs are connected and share resources without going through a separate server computer. Benefits: 1) It is easy to install and so is the configuration of computers on this network. 2) All the resources and contents are shared by all the peers, unlike server-client architecture where Server shares all the contents and resources. 3) P2P is more reliable as central dependency is eliminated. Failure of one peer doesn’t affect the functioning of other peers. In case of Client –Server network, if server goes down whole network gets affected. 4) There is no need for full-time System Administrator. Every user is the administrator of his machine. User can control their shared resources.

Use Of Maya Dynamics In Animation Cultural Studies Essay

Use Of Maya Dynamics In Animation Cultural Studies Essay This dissertation focuses on Maya Dynamics Technology. How far this technology be used in animation.How does the production house carry out complex dynamic simulations.The author will breifly describe how the simulations was acheived in his project.How other beginers can acheive a better output.Basic production skills to simulate dynamic simulations.At the end the author breifly describe about the upcoming cg softwares based on his research works.This dissertation is primarly based on my: My personal experience. My study on Maya Dynamics. Researches carried out. This dissertation will breifly describe all about maya dynamics technology and an indepth description of technologies used in this project. Maya fluids. Blast code Natfx Introduction This dissertaion asks and begins to answer the following questions. The use of Maya Dynamics in animation.How to carry out complex dynamic simulations.  · To define Maya dynamics  · To explain various methodolagies and techniques in maya dynamics.  · How to reduce render time in Maya dynamics simulation.  · The best possible way to render Maya dynamics.  · An overview of how maya dynamics are simulated in the studios.  · Analyze the best CG simulations achieved in movies.  · Recomendations based on my study. Research Methodology  · Analyzing the real time simulations.  · Describtion of how it was carried out in movies.  · Describtion about the best possible way to achieve it. Gathering other peoples experiences. SUMMARY Chapter 4  · What is Maya dynamics?  · An in depth view on Maya dynamics.  · Techniques used in my project. Chapter 5 Study of explosions. Methods to create an explosion for a short film. Chapter 6  · How does the studios carry out simulations.  · The best possible way a freelancer or a student can achieve thier desired simulation in the best possible time Chapter 7 In depth knoweldge about project Superfortress. Chapter 8  · Future developments. Chapter 9  · Reports and conclusions. Chapter 10  · Bibilography Review of Literature Chapter 4 Introduction This chapter shortly describes about Dynamics. A study of techniques in dynamics, and breif describtion about the techniques used in the project. Introduction so what is Maya Dynamics? Dynamics is an Autodesk Maya software that depends on laws and theories of physics to let us simulate natural forces in the animation. such as rain, smoke, fire, explosions,colliding objects etc. The animation is achevied by creating required elements in a scene and connecting them to inbuild forces in Maya to achieve required simulations. such as creating expressions,fields,collisions,goals etc.. Maya dynamics can also be defined as the animation of soft bodies,particles and rigid bodies. Study of Maya Dynamics technology Rigid bodies Rigid body are defined as those surfaces that doesnt deform its shape when it collide with another object.A few examples in real world would be billard balls and carroms . Rigid body technique in maya provides the simulation of geometric elements in a dynamically controlled enviornment using collision based system in Maya. There are two types of rigid bodies Active and Passive rigid bodies. Active rigid body are created for colliding with another surface and for simulating in a realistic manner.They have the ability to move, spin, rotate and collide with passive objects. Difference between active rigid body and passive rigid body. Active Passive can be keyframed Yes No respond to collisions No Yes affectd by fields No Yes Particles Maya particles are those objects that have no volume or size.They are basically reference points simulated, animated, and renderd seperatly.Like any other nodes in maya , particles also contain nodes that contain attributes which can be used for controlling individual particles.Nodes contain array, ramps , scripts and expressions. How does Maya particles differ from Maya geometry? Particles are points in space which require special care while rendering. Particles can only be renderd out using software or hardware rendering methods Fields Fields are the natural forces in nature that are manupilated in Autodesk maya.Such as gravity,wind,turbulance,air etc..that increases particle simulation and visual of the scene in a better way. Particle expressions One of the most powerful and infinite method of controlling particle parameters.Particles expressions depends on Mel syntax.Few examples of Particle expressions are: The first expressions determines the life time and the second expression determines the color of simulated particles in a maya scene. particleShape1.lifespanPP=time*1; particleShape1.rgbPP=rand(0,1); Goals Goals are a very strong method of animating the particles.Goals work more like a huge magnet that attract particles towards it or goals are considerd as the destination point for the particles.Goals have thier own attributes specifically designed for goal based simulation. Particle instancing Particle instancing control the motion and simulation of the instanced object created in Maya.Particle instancing are uesd for creating multiple objects that folllow their parents simulation.One example is : Thousands of arrows shot up in the sky. How to render out particles in Maya? Now here is a frequent question asked by freshers.What good is it to simulate the particles in maya and doesnt have the knowledge to render it out . Maya provides two option to render particle simulation. Software rendering Hardware rendering software rendering This technique allows for scene integration of particles and other renderd objects.Software renderd particles have glows, shadows, and lighting effects. Hardware rendering Hardware rendering is one of the quickest method of image creation in maya.But these images are taken to compositing softwares for compositing with the rest of the scene. In depth study of Maya Dynamics techniques used in the project Techniques used in the project Fluids Particle Instancing Maya Fluids Maya fluids are widely used for creating fluid simulations.Maya fluid box contains emiiter and container which supports the creation and simulations of smoke,fire,clouds,explosions etc.. this chapter brefily describes about the use of containers , how to create a reaction and how to render it out. Fluid containers Fluid containers visually represents a small scene inside a maya scene.They are best used for creation of fire ,clouds and explosions.Fluids are generated inside the container by an emitter or by painting the fluid inside the container.The simulation happens only inside the container.Dynamic forces are then connected to the container for better simulations. There are two types of container in maya 2d container 3d container 3d conatiner 2d container Both work in the same way but the only difference between them is 2d containers are flat and they simulate much faster where as 3d containers are cubical volumes and will take time for them to simulate. 3d containers 3d containers have depth ,height and width.Which obviously increases the render time.The best possible way to start working in a 3d conatiner is by setting its resolution at 20,20,20 intially and grdually increasing accordigly.One important thing in 3d container is that the size and resolution are proportional to each other. If the container size is 10,20,10 then resolution should be set to 20,40,20, or 5,10,5.Other wise the fluids will get strecthed and simulation appears strecthed.But ofcourse there are some instances when they can be alterd. (Above) size and resolution Chapter 5 This chapter decribes the study of explosions i have conducted for my project. Object of Research The series of research reported in this document is the study of physical phenomenon, the visual of an explosion and the after effect of the situvation that happens when an explosion occours.This includes study of the destructions of different shaped explosions , and the turbulence that occours during the time of ignition, as well as a study of damage occured and its after effects such as fire and smoke. What is an explosion? An explosion can be defined as a sudden bursting or blowing apart caused by energy released from a very fast escape of gases under pressure, or from a very fast chemical reaction or a nuclear reaction. Which in result produces a shock wave, loud noise, heat and light. What are the different types of Explosions? Explosions are classified into three categories. Mechanical Explosions Chemical Explosions Nuclear Explosions Mechanical Explosions The gradual build up of gases and pressure inside a pressure cooker. When the safety pressure valve is destroyed, blocked or eliminated intense amount of heat is generated. Mechanical explosion results from spontaneous combustion created by dust in a grain storage bin. Chemical Explosions Chemical explosions are caused by extremely rapid conversion of solid or liquid explosive compound into gases which has highly increased volume compared to the original compound. All manufactured explosives are chemical explosions. The explosion rate is too fast that it takes only a micro second to create intense heat and pressure. Nuclear Explosions May only be induced by either fission (splitting of nuclei of atom) or fusion (joining nuclei of atoms under great force). When the action occurs tremendous energy, heat, gas and shock takes place creating a blast equivalent to 40 million pounds of high explosive. A nuclear explosion occurs as a result of the rapid release of energy from an intentionally high speed nuclear reaction. The explosion of an atomic bomb. Visual of an Explosion The effects are Heat, Light and Gases. Changes that occour results in combustion or burning. The initial color of an explosion is bright yellow, bright orange which gradually develops into bright thick red and die into a grayish and black color. Velocity of an Explosion Black powder detonates 3000-5000 feet per second. High explosives detonate from a range of 3300-29,000 fps. Primary effects from an Explosion Blast pressure effect.(positive and negative effect) Fragmentation effect. Incendiary or thermal effect. Ionization radiation. Residual radiation. Blast pressure Blast pressure are clasified into two categories Positive blast Negative blast Positive blast effect The explosion creates a blast of pressure going outward in a 360 degree from the centre of blast. At a rate of 4000-27,000 fps. Negative blast effect The explosion creates a vacuum of negative pressure that is diminished in strength in comparison of positive blast effect but still destructive enough to create an injury or death. The negative blast rushes gases and debris back towards the centre of blast. Fragmentation effect The act or the process of scattering of fragments of an exploding bomb. The fragmentation can be defined as the process of dividing. As an explosion occurs the gas pressure released pick up all the debris and any obstacles that may be picked up, bent, fractured otherwise destroyed by the pressure from the blast. Incendiary or Thermal effect Thermal radiation can be defined as an electromagnetic radiation emitted from the surface of a material due to the particular temperature of the material. The intense amount of heat and light produced by a nuclear explosion. Example of Thermal effect would be heat so intense that the sand in the area is near the blast centre is turned into glass. Example of Incendiary effect would be the ignition of wooden framework of a building causing the entire structure to burn to the ground in addition to blast damage. Ionization radiation Ionizing radiation can be defined as the radiation that is capable of producing ions either directly or indirectly. Radiation of sufficient energy to displace electrons from the atoms of cells and produce ions. Forms of ionization radiation Heat waves Radio waves X rays Ultra violet light Infra red light Residual radiation Residual radiation can be defined as the radio active materials emitted by a Nuclear explosion when an atomic blast occours. Which includes, Fission products, unfissioned nuclear material Research on the technical part of the Explosions What is the possible way to create an explosion for a short film? The best possible way to create an explosion for a short films are: Miniature + real explosion Miniature + cg Complete Cg Miniature + real explosion I build a miniature and fill it up with explosives. Rent a camera for the shoot and blow up the miniature in front of a black backround.Capture the video and then take it to compositing software. Miniature + Cg I build a miniature and blow it up without any pyrotechnique.Rent a camera and capture the footage. Create a Cg explosion. Use a compositing software and composite the two videos. Complete Cg I build a Cg miniature and create a Cg explosion. Then composite the two clips. Chapter 6 Breif introduction about studios. How does the studios carry out dynamic simulations? Study of dynamic simulations achieved in movie 2012. Movie : 2012 Director : Roland Emmerich Production studio : Scanline vfx(1990) Digital domain(1993) Double negative(1998) Sony pictures image works(1993) Pixomondo(2001) Hydrulx(2002) Crazy horse effects(2001) Evil eye pictures(1997) Gradient eye effects Uncharted territory(1999) Uncharted territory About Uncharted territory(llc) is one of the succesfull independent film production company established in 1999 by Visual Effects Supervisor Volker Engel and Visual Effects Producer and Supervisor Marc Weigert. The studio focus on developing , producing and co-producing feature films, TV movies and mini-series in the action/adventure and sci-fi genres.The studio hires 30-40 artist for each project and dissolve them when the project is completed. Production focus 2012 The studio was handed over 433 shots.They hired over 100 artists for the job to get done. Shot: First half of los angeles earthquake. (above)Earthquake preview done at llc Uncharted territory started working with the preview of earthquakes.when the visual feel of the earthquake was satisfied in the preview,they moved on to create in 3d.The unique thing about this shot is that it was 100% realistic digital enviornment and it has to break 100% realisticly.That was a huge challenge as they have to make sure the shading,texturing and lighting is correct and it looks realistic.But again as they have to visually show an eartquake of magnitude of 10+, it makes the job even more difficult. Many of the shots in los angeles airplane escape sequence the background showed huge amount of destructions of office buildings and many other which collapses and falls into the massive crack opened up on the earth surface.All these incidents have to be massive and huge. To make a collapsing building you need to have more than a building if it doesnt it looks unrealistic.fire,smoke,people,traffic,plants and many more to give a realistic look to that particular shot.It dosent end there as these objects crack,collapse and collide with other objects it creates dust and secondary debris. (Above)Los angeles plane escape sequnce.bg was composited later. (above)final compited shot. To visually display all these destructions one thing was quite clear from the rest of all that these destructions have to simulated using computer graphics.No cg software in the market was capabale of achieving it.so they have to build a tottaly new software which supports the rigid body simulations,shattering objects,material properties and capable of running these simulations.They named the newely build softawre as DROP. Drop The software gives the artist an extra advantage to break a building at a particular point and how large or small the destruction should be and to which direction it should fall. Accurate calculation of the magnitude and the precision, accuracy of the collapse. The speed of the destruction and the stability. Ability to run the simulation thousand times faster with multiple geometry,which widley provides time for the artist to test multiple simulations in a day. ar-winning Visual Effects Supervisor Volker Engel and Emmy-award winning Visual Effects Producer and Supervisor Marc Weigert.scar-winning Visual Effects Supervward winning Visual Effects Producer and Supervisor Marc W Double Negative About Double Negative was set up in 1998 with 30 staff.At present the studio has developed upto 700+staff making it one of the largest visual effects providers for films in Europe.They currently opened up a studio in Singapore with 50+ staff which works closely to the the main company in London. Production focus 2012 Double Negatives most challenging part in 2012 was to create lava bombs and pyroclatic ashes at yellowstone.The solution to this issue was to use pre simulated ashes and then importing it to the shot.The individual simulations were build in fluid dynamics.After much testing and running simulations they were able to simulate pyroclatic ashes in different sizes and shapes.The size were varying from a football to the size of a four story building. (Above)pyroclatic ashes varying from different sizes. Later stages they build lightweight rig in maya for the timing and placement of lava bombs.Once things was finalised the scene files exported to houdini were all the softbody,rigidbody simulations of lava bombs was solved.which included the impacting,soil and bedrock layers. (Above)lava bombscollision on the ground In Houdini the artists will analyze the trajectory and direction of each lava bombs and then calculate the point of impact.Later they run a lot of test simulations till they acheive what they wanted.And then as the lava bombs collides with the ground surface the ground breaks apart and throws up a lot of smoke dust and fire etc.When everything was finalised in Houdini they exported it back to maya for rendering. Pixomondo About Pixomondo was established in 2001 by CEO and executive producer Thilo kuther. Pixomondo is an international visual effects studio which has branches all over Europe.They have a global network of studio in :Berlin,Stuggart,Frankfurt,Munich,Shangahi,London and they recently opened up a studio in Los angeles.Pixomondo have positioned themselves on the frontier of the changing visual effects world.They have efficent and collaborative workflow across different time zones which established 247 production cycle.The studio offers supervision and production of : Cg character creation 3d animation and previsualisation of feature film Television and commercial industry. They worked recently on films like 2012 and Ninja assasin. Production focus 2012 The intense amount of destruction filmed in 2012 is the reflection of intense amount of previews the studio has worked.These preview was not just a helping hand in the production and post-production phase it was equally important for the story telling phase.The previews also served the assistant directors for setting up lighting , camera positioning and many other technical issues.It widley helped the director to revision his ideas. Vfx supervisor Rainer Gombus worked closely with director from october 2008 with the previews.This team consist of a group of highly talent lead animation artist,lead visual effects artist ,producer and executive producer Thilo kuther.Work was seperated among the global studios under Pixomondo. They had to provide previews that satisfied sony pictures and which helps the film makers to enhance their production pipeline.Almost all the previews had water,fire,smoke etc..In some cases they were creating detailed number of differnt shots from different angles when storyboards didnt exsist. Digital Domain About Digital Domain was established in 1993 by film industry.The studio has done a lot of contribution to the film industry over the past decade and are still on the process of acheiving it in th future.They have worked on many award winning films like : Titanic Curious case of Benjamin Button 2012 The studio received three Academy awards for visual effects and four other awards for scientific and technical achievement. Production focus 2012 (Above)plane escape shot Digital Domain was paired with Pixomondo to create the previews of plane escape shot from Los Angeles.Working on the camera moves,massive destruction and blocking out the rest. While Pixomondo was working on the previews the vfx supervisor of DD started working on the preproduction , focusing on blue screen shots.The DD office in california started working with rd.They consisted of 150 artists and programers who started working from August 2008 and it lasted till July 2009. Shot describtion The hero comes to resuce his children ,his ex wife and her newly met boyfriend.As the plane try to take off an earthquake occours creating a huge crack in the ground and try to suck the plane into it.But the hero manges to pull up from the pressure and manges to move around the collapsing city and finally escapes through the sea. (Above) ground crack Production One of the shots at which the DD had to work was the plane lift up shot.Majority of the footage was live action excluding the cg buildings and the road.The trees was done later procedurally.The footage was compiled with large number of photographs and merging them together,they had to model each single houses, buildings and other geometry.They hired a helicopter and continuelsy shot the footage,which was later merged in the actual shots. The runway set was made out of plywood framed platform with cylinders toped under it.A tarmic type texture was applied to it ,to give a more realistic look.The construction helped the technichians to squash, stretch and flex the runway. Ground cracking and debris was acheived through 2d tracking which required a lot of detailed paint works. Simulating these sequnces from scratch would be impossible.so they developed a library system and started modelling chunks of ravine   each about 100 yards long, then layers and layers of rocks,debris and small simulated particles and volumentics on top of that.Each section of the collapse scene ran around 400 frames and each of them can be repeated as they wanted.This process allowed enough control for the artist to control where the wall would collapse and the number of frames it will take.When they finalised the shots its time to render it out. All the shots was renderd out in Renderman.Since the sequnce was during day it required straight forward HDRI lighting.Each shot had around 30-40 render passes.All these was composited in Nuke. Chapter 7 Emerging technology Next limit Realflow 5 Realflow 4 is a stand alone 3d simulation software which supports fluid simulation, such as water,rigid body,meshes and gaseous substances.The software is developed by Nextlimit technologies.The creator recieved an award from motion pictures of arts and science for the creation of Realflow in 2007. Realflow is based on particle simulation.It completly depends upon the physical properties to interact with each other and creates realistic aceleration,forces and impulses.These particles can be influenced by point based nodes known as daemons,which is a powerfull tool that can simulate the motion of gravity,twister and tsunami. Running platforms Works both in 32 and 64 bits. Works on various operating systems Compaitable with 3d studio max,Autodesk maya,Cinema 4d,Xsi and lightwave. Whats new in Realflow 5 At Siggraph 2009 Nextlimit played a demo version of Realflow 5.Here are some cool new features that will be available in version 5. Particle based fluid simulation When comparing version 4 with version 5 , the version 5 can simulate much faster when using particle based solver. Hybrid based fluid solver This new feature lets you simulate medium to large scale fluids.The solver has the ability to detect those areas that need more resolution and it will automatically generate particles in those areas. New and updated plugins Nextlimit added up a new plugin for Houdini,Lightwave and Xsi.The plugins for Maya and 3dMax is also updated. Script udated Realflow works on Pyhton scripting.The new C++ sdk script opens up different variations in simulating and helps in pipeline integration. New dynamic engine for softbody and rigidbody This new engine is developed from scratch and it is completly multithreaded.It has a new level of physical accuracy. Licence scheme updated Like the previos versions of real flow version 5 dosent depend on cpu,it will be licensed by machine.