Monday, May 26, 2008

Great Pyramid of Giza

The Great Pyramid of Giza, also called Khufu's Pyramid or the Pyramid of Khufu, and Pyramid of Cheops, is the oldest and most significant of the three pyramids in the Giza Necropolis bordering what is now Cairo, Egypt in Africa, and is the only remaining member of the Seven Wonders of the Ancient World. It is held the pyramid was built as a tomb for Fourth dynasty Egyptian pharaoh Khufu (Cheops in Greek) and builds over a 20 year period ultimate around 2560 BC. The Great Pyramid was the tallest man-made structure in the world for over 3,800 years. Obviously all that remains is the underlying step-pyramid core structure seen today. Many of the casing stones that once enclosed the structure can still be seen around the base of the Great Pyramid. There have been varying scientific and alternative theories regarding the Great Pyramid's construction techniques. Most accepted construction theories are based on the idea that it was built by moving huge stones from a quarry and dragging and lifting them into place.

There are three recognized chambers inside the Great Pyramid. The lowest chamber is cut into the bedrock upon which the pyramid was built and was incomplete. A passage from the Grand Gallery leads to the Queen's Chamber, while an entrance leads from the Grand Gallery to the King's Chamber. The sarcophagus of the King's Chamber was hollow out of a single piece of Red Aswan granite and has been found to be too large to fit through the passageway leading to the chamber. Both the King's Chamber and the Queen's Chamber contain small shafts that climb out of the pyramid. Egyptologists now conclude they were instead used for ceremonial purposes. The Great Pyramid is the only pyramid known to contain both ascending and descending passages. The Great Pyramid of Giza is the main part of a complex setting of buildings that included two mortuary temples in honor of Khufu (one close to the pyramid and one near the Nile), three smaller pyramids for Khufu's wives, an even smaller "satellite" pyramid, a raised causeway linking the two temples, and small mastaba tombs surrounding the pyramid for nobles.

Sunday, May 18, 2008

Mountain

A mountain is a landform that extends over the nearby terrain in a limited area. A mountain is normally steeper than a hill, but there is no commonly accepted standard definition for the height of a mountain or a hill though a mountain typically has an exacting summit.

Mountains are on the whole given as heights over mean sea level. The Himalayas generally 5 km above sea level, at the same time as the Andes average 4 km. Most other mountain has 2 – 2.5 km. The peak mountain on Earth is Everest, 8,848 m (29,028 feet), locate in the world's most vital mountain range, the Himalayas.

Sufficiently big mountains have particularly different climatic conditions at the top than at the base, and will thus have different life zones at different altitudes on their slopes. The plants and animals of a sector are to some extent lonely when the zones above and below are harsh, and numerous unique species take place on mountainsides as an end result. Great cases are identified as sky islands. Cloud forests are forests on mountain sides which are a focus for moisture from the air, and thus creating a single ecosystem. Very tall mountains may possibly be enclosed in ice or snow.

Sunday, May 11, 2008

Management of working capital

Management will use a federation of policies and techniques for the management of working capital. These policies aim at managing the current assets usually cash and cash equivalents, inventories and debtors and the short term financing, such that cash flows and returns are acceptable.
Inventory management: Identify the level of inventory which allows for continuous production but reduces the investment in raw materials - and minimizes reordering costs - and hence increases cash flow; see Supply chain management; Just in Time (JIT); Economic order quantity (EOQ); Economic production quantity (EPQ).
Debtors management: Identify the appropriate credit policy, i.e. credit terms which will pull towards you customers, such that any impact on cash flows and the cash change cycle will be offset by increased revenue and hence Return on Capital (or vice versa); see Discounts and allowances.
Short term financing: Identify the appropriate source of financing, given the cash conversion cycle: the inventory is preferably financed by credit granted by the supplier; however, it may be necessary to make use of a bank loan (or overdraft), or to "convert debtors to cash" through "factoring".
Cash management: Identify the cash balance which allows for the business to meet day to day expenses, but reduces cash holding costs.

Sunday, May 04, 2008

Swaption

A swaption is an option granting its owner the right but not the obligation to enter into a fundamental swap. Although options can be traded on a diversity of swaps, the term "swaption" typically refers to options on interest rate swaps.

There are two types of swaption contracts:

A payer swaption gives the owner of the swaption the right to come into a swap where they pay the fixed leg and obtain the floating leg.
A receiver swaption gives the owner of the swaption the right to enter into a swap where they will receive the fixed leg, and pay the floating leg.
The buyer and seller of the swaption agree on:

The premium (price) of the swaption
the strike rate (equal to the fixed rate of the underlying swap)
Length of the option period (which frequently ends two business days prior to the start date of the underlying swap),
the term of the underlying swap,
Notional amount,
Amortization, if any
Frequency of settlement payments on the underlying swap.