goods and cash are shown sometimes together, sometimes sepa rately. This inventory may be compared to the assets of modem bal ance sheets. It was accompanied by a cash statement. There were no liabilities since long-term debts had been forbidden by the stat utes since 1702. The Company relied only on the funds contrib uted by its partners or on profits. After 1785, short-term debts were separated from each corresponding item of receipts. It was not until 1820 when the use of double entry bookkeeping showed liabilities as they are shown at the present time. Those liabilities included short-term debts and estimated liabilities so that the net worth (called “capital net") could be calculated. Inventory was never compared to the receipts and payments statement as a means of verifying the inventory. For example, depreciation was calculated at the end of the 18th century in order to have an accurate inventory, but it was never featured clearly in the calcula tion of profit. The 18th item of the statutes of Plastrier’s Company3 men tions that profit is the difference between receipts and payments, and that "they were quarterly calculated after the constitution of a 15000£ (livres toumois) reserve." This was the only means the Company had of knowing how much could be paid to the owners. Such a simplified system was entirely in line with the desire to keep this information confidential. According to Sellon, an important Genevese shareholder of the Company, the simplified accounting system allowed any director, ignorant of accounting, to hold the Ledger sans confidens, that is without the help of a qualified accountant, so that secrets of the business could be preserved. The term "capital" was not used. The statutes only say fonds or effets, which correspond to the inventory value of all the assets of the Company at a fixed date. The owners' contributions to capital were made either in-kind (Venetian glass from Pocquelin in 1667) or in cash after 1702. They were considered an advance to the company, rewarded at a 10% rate. However, these advances were never refunded so that they can be considered as capital. The number of partners was fewer than ten before 1695. After that date, through inherit ances and the selling of ownership interests, the number of part

In general, the techniques to predict drought include statistical regression, time series, stochastic (or probabilistic), and, lately, pattern recognition techniques. All of these techniques require that a quantitative variable be identified to define drought, with which to begin the process of prediction. In the case of agricultural drought, such a variable can be the yield (production per unit area) of the major crop in a region (Kumar, 1998; Boken, 2000). The crop yield in a year can be compared with its long-term average, and drought intensity can be classified as nil, mild, moderate, severe, or disastrous, based on the difference between the current yield and the average yield. Regression techniques estimate crop yields using yield-affecting variables. A comprehensive list of possible variables that affect yield is provided in chapter 1. Usually, the weather variables routinely available for a historical period that significantly affect the yield are included in a regression analysis. Regression techniques using weather data during a growing season produce short-term estimates (e.g., Sakamoto, 1978; Idso et al., 1979; Slabbers and Dunin, 1981; Diaz et al., 1983; Cordery and Graham, 1989; Walker, 1989; Toure et al., 1995; Kumar, 1998). Various researchers in different parts of the world (see other chapters) have developed drought indices that can also be included along with the weather variables to estimate crop yield. For example, Boken and Shaykewich (2002) modifed the Western Canada Wheat Yield Model (Walker, 1989) drought index using daily temperature and precipitation data and advanced very high resolution radiometer (AVHRR) satellite data. The modified model improved the predictive power of the wheat yield model significantly. Some satellite data-based variables that can be used to predict crop yield are described in chapters 5, 6, 9, 13, 19, and 28. The short-term estimates are available just before or around harvest time. But many times long-term estimates are required to predict drought for next year, so that long-term planning for dealing with the effects of drought can be initiated in time.

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A Review of Metabolic Parameters in Quetiapine Studies Across Diagnoses

European Psychiatry ◽

10.1016/s0924-9338(09)71247-7 ◽

2009 ◽

Vol 24 (S1) ◽

pp. 1-1

Author(s):

J. Newcomer ◽

R. Ratner ◽

M. Åström ◽

H. Eriksson

Keyword(s):

Atypical Antipsychotics ◽

Extended Release ◽

Term Treatment ◽

Metabolic Parameters ◽

Short Term ◽

Pooled Data ◽

Long Term Treatment ◽

Potential Risks ◽

The Difference

Background:Data pertaining to changes in weight during long-term treatment with quetiapine (QTP) have been published previously (1).Methods:Pooled data are presented from 26 short-term clinical studies (up to 12 weeks) of QTP or quetiapine extended-release (QTP XR)-as monotherapy or adjunct therapy-conducted by AstraZeneca up to November 2007. Studies were conducted in adult patients (18-65 years) across a number of psychiatric diagnoses. Variables were analyzed irrespective of fasting status with similar analyses planned in the fasting subset. LSM changes from baseline for the difference between QTP and placebo are presented.Results:Approximately 10000 patients were included in the analyses, 70% of whom were treated with QTP or QTP XR. Across the entire short-term dataset, the difference in LSM change in weight for QTP vs. placebo was 1.07 kg. Corresponding differences in glucose regulation parameters were 1.39 mg/dL for glucose and 0.04% units for HbA1C. the overall difference in total cholesterol was 5.48 mg/dL, with differences in HDL and LDL cholesterol of -0.62 mg/dL and 1.69 mg/dL. the difference in LSM change in triglycerides was 22.62 mg/dL.Discussion:Within the context of balancing potential risks against the acknowledged benefits of atypical antipsychotics, the degree and significance of variations in metabolic parameters is an area of continued interest. This analysis helps clinicians to better understand changes in important metabolic parameters across trials with QTP and QTP XR, and the size and uniqueness of the dataset permits further analyses within this important area.Supported by funding from AstraZeneca Pharmaceuticals LP.

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The Risk Premium on Ordinary Shares

British Actuarial Journal ◽

10.1017/s1357321700001094 ◽

1995 ◽

Vol 1 (2) ◽

pp. 251-330 ◽

Cited By ~ 5

Author(s):

A.D. Wilkie

Keyword(s):

Risk Premium ◽

Geometric Mean ◽

Arithmetic Mean ◽

Short Term ◽

Arithmetic Means ◽

Price Inflation ◽

Geometric Means ◽

True Model ◽

The Difference

ABSTRACTThe risk premium on ordinary shares is investigated, by studying the total returns on ordinary shares, and on both long-term and short-term fixed-interest investments over the period 1919 to 1994, and by analysing the various components of that return. The total returns on ordinary shares exceeded those on fixed-interest investments by over 5% p.a. on a geometric mean basis and by over 7% p.a. on an arithmetic mean basis, but it is argued that these figures are misleading, because most of the difference can be accounted for by the fact that price inflation turned out to be about 4.5% p.a. over the period, whereas investors had been expecting zero inflation.Quotations from contemporary authors are brought forward to demonstrate what contemporary attitudes were. Simulations are used along with the Wilkie stochastic asset model to show what the results would be if investors make various assumptions about the future, but the true model turns out to be different from what they expected. The differences between geometric means of the data and arithmetic means are shown to correspond to differences between using medians or means of the distribution of future returns, and it is suggested that, for discounting purposes, medians are the better measure.

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Re-analysis of ground-based microwave ClO measurements from Mauna Kea, 1992 to early 2012

Atmospheric Chemistry and Physics ◽

10.5194/acp-13-8643-2013 ◽

2013 ◽

Vol 13 (17) ◽

pp. 8643-8650 ◽

Cited By ~ 5

Author(s):

B. J. Connor ◽

T. Mooney ◽

G. E. Nedoluha ◽

J. W. Barrett ◽

A. Parrish ◽

...

Keyword(s):

Atmospheric Composition ◽

Composition Change ◽

Major Focus ◽

Short Term ◽

Data Set ◽

Long Term Changes ◽

The Difference ◽

Long Term Trend ◽

Linear Decline

Abstract. We present a re-analysis of upper stratospheric ClO measurements from the ground-based millimeter-wave instrument from January 1992 to February 2012. These measurements are made as part of the Network for the Detection of Atmospheric Composition Change (NDACC) from Mauna Kea, Hawaii, (19.8° N, 204.5° E). Here, we use daytime and nighttime measurements together to form a day–night spectrum, from which the difference in the day and night profiles is retrieved. These results are then compared to the day–night difference profiles from the Upper Atmosphere Research Satellite (UARS) and Aura Microwave Limb Sounder (MLS) instruments. We also compare them to our previous analyses of the same data, in which we retrieved the daytime ClO profile. The major focus will be on comparing the year-to-year and long-term changes in ClO derived by the two analysis methods, and comparing these results to the long-term changes reported by others. We conclude that the re-analyzed data set has less short-term variability and exhibits a more constant long-term trend that is more consistent with other observations. Data from 1995 to 2012 indicate a linear decline of mid-stratospheric ClO of 0.64 ± 0.15% yr−1 (2σ).

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Effect of Extended Aging on Asphalt Materials Containing Re-Refined Engine Oil Bottoms

Transportation Research Record Journal of the Transportation Research Board ◽

10.3141/2632-07 ◽

2017 ◽

Vol 2632 (1) ◽

pp. 60-69 ◽

Cited By ~ 11

Author(s):

David J. Mensching ◽

Adrian Andriescu ◽

Christopher DeCarlo ◽

Xinjun Li ◽

Jack S. Youtcheff

Keyword(s):

Low Temperature ◽

Fatigue Testing ◽

Asphalt Mixture ◽

Field Performance ◽

Cyclic Fatigue ◽

Engine Oil ◽

Short Term ◽

Bending Beam Rheometer ◽

The Difference

The use of re-refined engine oil bottoms (REOBs) in asphalt pavements is a topic of much debate because the aging susceptibility and quantity of the additive in the binder may affect field performance. In this study, four mixtures with varying REOB contents (up to 15%) were long-term oven aged by using a high-temperature, short-duration method (135°C, 24 h) and compared with existing data on mixtures aged with more conventional short-term and long-term oven-aging procedures. The recovered binders underwent Superpave® grading, double-edge notched tension, and extended bending beam rheometer testing, and the binders were subjected to dynamic modulus, cyclic fatigue testing in the asphalt mixture performance tester, and thermal stress restrained specimen testing. Results showed a general insensitivity when short-term oven-aged (135°C, 4 h) materials were compared with long-term oven-aged (85°C, 5 days) materials, whereas the aging process at 135°C over 24 h resulted in substantial changes to the stiffness and relaxation properties across high-, intermediate-, and low-temperature modes. The difference between the stiffness-based and slope-based low-temperature performance grades appears to be an indicator for REOB modification, with the test for physical hardening of the binder being more sensitive than standard bending beam rheometer testing. The details in this paper provide information for the asphalt pavement community to consider as specifications. Standard practices are developed to address REOB modification.

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Variability of seasonal and annual rainfall in the River Nile riparian countries and possible linkages to ocean–atmosphere interactions

Hydrology Research ◽

10.2166/nh.2015.164 ◽

2015 ◽

Vol 47 (1) ◽

pp. 171-184 ◽

Cited By ~ 14

Author(s):

Charles Onyutha

Keyword(s):

Large Scale ◽

Equatorial Region ◽

Annual Rainfall ◽

River Nile ◽

Short Term ◽

Ocean Atmosphere ◽

Data Points ◽

The Difference ◽

Term Data

Variability analyses for the rainfall over the Nile Basin have been confined mostly to sub-basins and the annual mean of the hydroclimatic variable based on observed short-term data from a few meteorological stations. In this paper, long-term country-wide rainfall over the period 1901–2011 was used to assess variability in the seasonal and annual rainfall volumes in all the River Nile countries in Africa. Temporal variability was determined through temporal aggregation of series rescaled nonparametrically in terms of the difference between the exceedance and non-exceedance counts of data points such that the long-term average (taken as the reference) was zero. The co-occurrence of the variability of rainfall with those of the large-scale ocean–atmosphere interactions was analyzed. Between 2000 and 2012, while the rainfall in the equatorial region was increasing, that for the countries in the northern part of the River Nile was below the reference. Generally, the variability in the rainfall of the countries in the equatorial (northern) part of the River Nile was found to be significantly linked to occurrences in the Indian and Atlantic (Pacific and Atlantic) Oceans. Significant linkages to Niño 4 regarding the variability of both the seasonal and annual rainfall of some countries were also evident.

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EVALUASI PERENCANAAN ATAS PAJAK PENGHASILAN (PPH) PASAL 21 SEBAGAI UPAYA MEMINIMALKAN BIAYA PAJAK PADA PT GRAHA POWER ENERGY

Jurnal Manajemen Bisnis Krisnadwipayana ◽

10.35137/jmbk.v5i3.155 ◽

2018 ◽

Vol 5 (3) ◽

Author(s):

Budi Tri Rahardjo, Ak., M.Ak., CA

Keyword(s):

Income Tax ◽

Descriptive Analysis ◽

Tax Planning ◽

Analysis Method ◽

Short Term ◽

Tax Cost ◽

Considerable Impact ◽

The Difference ◽

Tax Savings

The purpose of this study is to know the tax planning undertaken by the company is appropriate and in accordance with the applicable tax laws in an effort to minimize the taxation terutangnya. The research method used is descriptive analysis method. The object of research used is evaluation of planning on Income Tax (PPh) Article 21. This research evaluate planning of Income Tax (PPh) Article 21 as an effort to minimize tax cost. The results achieved are having a considerable impact on the company's activities. The owner of the company would want to enjoy the results of his business to the fullest. Therefore it is necessary to prepare a tax planning coordinated with long-term plans and short-term plans of the company. The conclusion is that the difference that occurs after applying the tax planning is a tax savings that can be obtained by the company. Where before the implementation of tax planning, income tax to be paid company is Rp. 425,671,743.25 and seteah doing tax planning to Rp. 341,456,597.75. So obtained tax savings of Rp. 84,215,145.50 the difference can be used by the company for something more useful and useful

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Working Capital

Encyclopedia ◽

10.3390/encyclopedia1030058 ◽

2021 ◽

Vol 1 (3) ◽

pp. 764-772

Author(s):

Grzegorz Zimon

Keyword(s):

Fixed Capital ◽

Working Capital ◽

Short Term ◽

The Difference

The simplest net working capital can be defined as the difference between the value of current assets and short-term liabilities together with other short-term accruals. It is equivalent to the part of the current assets financed with equity, provisions for liabilities, long-term liabilities, and the remaining part of accruals. Therefore, it is the capital that finances only that part of the current assets that are not financed with short-term liabilities. This amount is financed with fixed capital. Summing up, net working capital is the fixed capital that finances the company’s current assets.

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Basis Risk and Net Interest Income of Banks

Folia Oeconomica Stetinensia ◽

10.1515/foli-2016-0024 ◽

2016 ◽

Vol 16 (2) ◽

pp. 40-59

Author(s):

Piotr Mielus ◽

Tomasz Mironczuk ◽

Anna Zamojska

Keyword(s):

Interest Rates ◽

Banking Sector ◽

Balance Sheet ◽

Actual Cost ◽

Short Term ◽

Basis Risk ◽

Interest Income ◽

The Difference

Abstract The results of the banking sector are shaped primarily by commissions and net interest income. Net interest income is determined by the difference between the profitability of bank assets and liabilities. In the case when a different method is used to determine interest for each side of the balance sheet, there occurs a basis risk that may lead to the deterioration in the net interest income of the sector. This is the situation in the Polish banking sector, which is characterized by the presence of variable interest rates for long-term assets and fixed interest rates for short-term liabilities. The study aims to verify the following thesis: in an environment of falling interest rates we can observe the deterioration in net interest income of the banking sector, as a result of the materialization of the basis risk. The authors of the article state that the source of the basis risk is the mismatch between the reference rate used to define the interest flow of loans and the actual cost of financing the balance through term deposits collected from non-financial entities.

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