Brake Caliper: Part and Functionality

Brake Caliper: Part and Functionality Caliper is inarguably the most crucial part of a braking system in any kind of Brake assembly, be it a traditional Drum Brake setup or the more modern Disc Brake assembly. The caliper acts as an interface between the drivers action to stop a moving vehicle and the reaction of the vehicles wheel to this action. Hence, a caliper sees both- The action and the reaction. The of using the are as follows: High corrosion resistance, Good machinability, Good flow characteristics, Lower density The caliper in itself does not stop a moving wheel but it houses a set of brake shoes which press against the rotors of a wheel and stop them by creating friction. The pressing of the brake shoes takes place due to a hydraulic set-up consisting of pistons on the caliper which push the brake fluid which in turn pressurises the brake shoes. As the primary purpose of the caliper is to transfer load onto the brake shoes and to load them, it is essential that the caliper be a rigid part. As a result, calipers have been following the usage of traditional load bearing materials like Cast Iron, Forged steel, etc. However as every rigid part in an automobile comes with an opportunity to save weight, some research is being carried out in order to reduce the weight of the caliper while retaining its characteristic to carry and transfer sufficient load. Brake Caliper Current Material: In this direction of weight save, Aluminium is being employed in the devise and development of a brake caliper. By nature, aluminium has lower density (2.7 g/cm3) as compared to ductile Iron (7.8 g/cm3). This conversion to aluminium has saved weight upto 40 percent. Comparison between Traditional Vs Current Material The design and performance criteria for the caliper castings are stiffness, dimensional rigidity and temperature and fatigue life. The aluminium alloys which are mainly considered for calipers are A354 and A357 alloys.The calipers in the brake system are currently made of Aluminium alloys consisting 7-10% Silicon, 0.15-0.2 % Ferrous, 0.05-2% Copper, 0.03-0.1% Manganese, 0.4-0.6% Magnesium, 0.1% Zinc, 0.2% Titanium. Table: Composition of Aluminium Alloys (A354A357) Aluminium 354 has higher copper percentage when compared to Aluminium 357 hence so eutectic change. The rate of corrosion of the Aluminium 354 is higher as compared to Aluminium 357. Both the alloys undergo Boron Nitride Coating where A354 show higher elongation over A357.This means that choosing 357 over 354 is a better choice for our desired part: Brake Caliper. Drawbacks of the Current Material: One main drawback of using this material for automotive applications is its low Fatigue strength which is of extreme importance in a load bearing part like Caliper. This issue has to be addressed while selecting a new material. Proposed material Magnesium Alloy (AZ91) Magnesium is one of the lightest materials with density 1.74g/cm3, compared to Aluminium and Ductile Iron. Magnesium is the most commonly used alloying element as sea water has 0.3% which is considered as the major source. The major alloying materials used for the proposed material AZ91 are 8.5-9.5% Aluminium,0-45-1%, Zinc,0.05-0.1%,Silicon, upto 0.03% Copper,0.02%Nickel and 0.05%Ferrous. Chemical Composition of Magnesium Alloy AZ91 Minimizing the weight of a caliper leads to the reduction of unsprung weight of the car therefore improving the fuel efficiency and heat dissipation. As the alloy is softer, it has high damping capacity and good impact resistance. Physical Properties of AZ91 Mechanical Properties of AZ91 Fig.Thermal Conductivity The thermal conductivity of AZ91 is comparatively low with the other Magnesium alloys which reduces overheating of the brake fluid decreasing the problems associated with it. Fig. Ultimate Tensile Strength Vs Strain Rate Comparison chart of Specific Stiffness and strength of the materials The specific stiffness of Magnesium is considerably equal to that of Aluminium whereas the specific strength is higher in Magnesium. Due to the increase in strength, fatigue resistance increases due to high Magnesium content. Brake Caliper needs high Bending stiffness which is greater in AZ91 because of high elastic modulus.ÂÂ   Low melting temperature of Magnesium leads to longer die life. Magnesium displays higher corrosion resistance than aluminium when it is coated with Phosphate-Permanganate and Zinc-Nickel alloys. Though the cost is more than the former, it can be used because of high bending stiffness as well as lighter mass which results in good functioning of the vehicle. Magnesium Alloy (AZ91) is lower in density than Aluminium Alloy (AL3XX) thereby reducing the weight (33% lighter) and improving the efficiency of the vehicle. It displays high strength, modulus of elasticity, heat dissipation and castability when compared to AL3XX. Magnesium alloys also exhibit better nature when exposed to physical loading like better damping capability and lesser elongation at failure loading.

Europe in World History Essay

Early Modern Europe is the term used to refer to a part of the history of Europe which began in 1648 following the last days of the Treaty of Westphalia and Thirty Years War. The war started due to some religious reasons. On the other hand, during the course of war, the battle focused on a political struggle between the states surrounding the Holy Roman Empire (Eusanz Organization, 2002). What was involved initially was the Austrian Habsburgs because of religious reasons supporting the Catholic side. On the other hand, there was an intervention on the part of Sweden on the Protestant side. France, then, which was a Catholic monarchy, went against Austria for political reasons. However, in the Treaty of Westphalia, the priorities of the powers were not religious but purely political in nature. France or Austria were not able to put up with each other, so these two nations decided to keep a historically fragmented division of the HRE in a number of weak and small states (Eusanz Organization, 2002). The only way to create peace between these powers was a balance of power. All three powerful states in Europe have origins in the feudal system. Feudal aristocracies exercised political power. Modernization and the progressions involved with it gave birth to a class of merchants and craftsmen which became a part of the middle class. The members of the middle class became active in trade which led to surplus increase. The role that the middle class played was in each of the state. They were scattered along the areas of Amsterdam, London and Paris which were bases of economic growth. Of the three locations, Paris had experienced the least degree of modernization, and Amsterdam the most. By the 17th century, Amsterdam had replaced Antwerp as the leading commercial city of Europe, reflecting the leading role that the Dutch had taken in commerce, shipbuilding, fishing and overseas exploration. London, the major seaport serving England’s commerce, was also prominent because of extensive trading contacts with the Lowlands dating back to medieval times, whereas Paris had become significant primarily as the political center of France rather than for commercial reasons. All these explain how the history of Europe alone has changed the history of the world as a whole (Eusanz Organization, 2002). Europe’s role in world history has always been an issue to scholars and especially to historians who always claim to put Europe it a place where it should rightfully be. Another even in the history of Europe was its landmass. The landmass of Europe alone already has a major role in world history. The Afro-Eurasian landmass, coming from South East Asia to North Africa covered various civilizations for 5,000 years which were all home to either pastoral nomadism or agrarian empires. China, India, Kushan Empire, Parthian Empire and the Roman Empire all dominated Eurasia. There were a lot of re-configurations which led to the Roman Empire adapting Christianity, the expansion of Islam, collapse of Persia and China being conquered by the Tang Dynasty. The role of Europe in these developments was that it stood as a frontier society. Christianized and Romanized barbarians constituted Europe during these times. Europe was even quarantined due to the fact that it did not succumb to the major trends of Buddhism’s intellectual advances and Islamic civilization (except for Spain). Along with the transformation of the other neighboring nations came Europe being a new creation itself. When Charlemagne was crowned, it was the sign of European civilization, which mirrored the sign of Islamic civilization when Muhammed finally preached Islam. The history of Europe clearly shows that it constantly expanded all throughout the years. Expansion definitely succeeded when the North East and Spain was conquered. Byzantium Empire was destroyed and Ottoman invasion began. Europe was also successful at developing its culture without the influence of other external factors because it was able to get away with Mongol’s worst excesses. Europe, unlike other countries, was not a successful and rich civilization during these years when it comes to achievements. Then again, Europe was able to expand when Little Ice Age and the Black Death ended. In terms of market and trade, Europe got some resources from India and China. European countries wanted to get into Eurasia’s trading network. It can not be denied the Europe had a small population during those times. Then again, its power was still very enormous. It has a big impact on world history, let its cultural patterns alone when it comes to politics. Secular politics was very well understood by Europe. European civilization deviated from the norms established by Eurasia. These are just among the many proofs that Europe played an important role in world history just by standing on its own and not allowing itself to be influenced by other nations. These factors made Europe a significant head start over other nations in the world. In fact, a lot of societies in the world today have derived its systems, be it economic or political, from the civilization of Europe. These societies were quickly able to approach the time when the investment’s marginal returns justified the expenditure that was continuously expanding. It can not be denied that the complexity level in Europe was high and was once proved to be unsustainable, but this didn’t keep Europe from achieving all the things it has achieved. The history of Europe was not always smooth. At time, it was not topsy-turvy and people suffered a lot, too. Then again, such case is not unique to Europe. Other civilizations in the world had been through the same dilemma, and others, even worse, especially the major ones. However, the situations and the history of European civilization alone make it a unique country from all the others. Its history made its achievements different from the others. There had been wars, and it doesn’t matter who won or lost. After all, the people who say negative things about European civilization are the same people who are claiming the rich heritage Europe has to offer.

If You Read Nothing Else Today, Read This Report on Photography Essay Samples

If You Read Nothing Else Today, Read This Report on Photography Essay Samples What to Do About Photography Essay Samples If you believe a photo essay is something which you may want to try, here are a couple of ideas to hopefully get you going. It is possible to use anything to tell a great story. A project is something to help you become from a photographic slump, doing the very same thing over and over again. You have to give them a feeling of where they're going, an image that permits them to understand the remaining part of the story in a geographic context. What You Should Do to Find Out About Photography Essay Samples Before You're Left Behind There have been a number of incidences previously where photographs are faked or misinterpreted creating havoc situation. Your about page should incorporate the region where you work. You could also incorporate just a little info here that might endear you to your intended audience. Naturally, you need to carefully choose every shot. The expense of the photography transaction If you're already aware on how best to make an event planning service proposal, then perhaps it is already the time to understand how to create other types of proposals like a photography proposal. To make certain it is a strong personal statement, our professional team will write your own personal statement in accordance with your requirements. If you wish to find high high quality research and thesis papers in time and for an affordable price, you should probably try out using EssaySupply.com. Since it's a creative program, you will need to turn in a portfolio of your work, in addition to a creative photography personal statement. Facts, Fiction and Photography Essay Samples A photograph isn't merely a mere representation of that which we see in reality in image form but, there's more meaning than that which is seen by a naked eye. If you're readily available to travel the planet, say so. 1 core concept of photography in nature is the fact that it establishes a relation to the world or nature. In addition to representing reality, it is also important in other areas of human life. Examine the Eiffel Tower, and what number of photographs are taken of it. Sometimes they can also create a hyper-reality which exaggerates the reality and thus cannot be the truth. Landscape photographs not only convey the simple part of earth scenery, but in addition they appreciate nature. For example, a photograph of a lovely beach is not going to demonstrate the litter present behind the camera. How to Get Started with Photography Essay Samples? At this point you have a group of individuals sharing and liking your images. You are able to take shots in your style and create your own photo essay. The very first images are always likely to be the hardest to take, but as soon as you pick up speed, you'll have images to show and persuade the next group. The single images comprise the whole. The Characteristics o f Photography Essay Samples The same is true with photographers. In earlier times you had to be quite patient as a digital photographer. Photographers are always on the go, so don't expect to get a monotonous job. Professional photographers become involved in all of the pursuit that's provided in these points. Usually, you can begin with 10 shots. Pictures and photos are two sorts of visual art competing today. Out of the many kinds of essays, photo essays are the absolute most illustrious. It is very important to define the variety of pictures we are eager to present on our final essay. If you're on the lookout for a project that doesn't need to drag on for too long, a photo essay could possibly be perfect for you. Shot planning Before selecting from the a variety of photo essay topics you have to plan the shots that are required to be taken for the essay. It is dependent on requirements to a specific essay or your own selection. If you're assigned a specific topic, think about the strategies to develop it. If you are searching for assistance with your essay then we provide a comprehensive writing service offered by fully qualified academics in your area of study. Every student would like to beat the remainder of the competition to collect best photos and use them in their essay. Below you'll discover some of the most eye-catching photographs we ran on the website in the previous year. Last, the detail of true speech makes the scene pop. The topic may supply you with freedom. If you like you may look online and find one which you like.

Political Science 1 midterm exam Essay - 3426 Words

Midterm Exam Section 1: Definition of terms. Authority: the power or right to give orders, make decisions, and enforce obedience. e.g.: In the presidential election, the winning party takes office without a struggle or show of military force because everyone understands the legitimacy of its newly won authority. It is important because the orders made from a government without authority will not be implemented. Power: the political power is the ability to shape and control the political behavior of other and to lead and guide their behavior in the direction desired by the person, group, or institution wielding the political power. e.g.: If person A has political power over B, then A is able to motivate, inspire, incite,†¦show more content†¦a. The United States Constitution b. Government Action or policy c. Parties d. Both b and c e. All of the above 3. Which state would be considered a small state in 1787 at the Philadelphia convention? a. Virginia b. New Jersey c. New Mexico d. California e. All of these! Answer: B 4. True or False: In the 2016 general election, the two strongest political parties shall run their standard bearers in a 50 state contest that requires the winner of the contest to achieve 270 electoral college votes on a winner take all, simple plurality basis. (lecture) 5. Which term below means the mental pictures or impressions left of a campaign or candidate during a campaign according to our lecture? a. Primaries b. Exit Polling c. Image d. Message e. Strategy Answer: C 6. True or False: The 2012 general election outcome was clearly decided in favor of president Mitt Romney. He became our first Mormon chief executive. Answer: False 7. In an open primary: a. The citizen must register and declare b. No congress or state government, anarchy exists. c. A constitution is irrelevant and unnecessary.Show MoreRelatedEssay on Pmap 3011 Syllabus2677 Words   |  11 Pages413-0138 Time: 1:30-2:45 P.M. 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Case Study Dahmer - 1097 Words

Background Information Jeffrey Lionel Dahmer (Figure 12) was born on May 21, 1960 in West Allis, Wisconsin (Dee, 2011, p.120). At school, Dahmer was always the outcast (â€Å"Jeffrey Dahmer†, 2015). He started drinking and became an alcoholic before graduating high school. In 1977, his parents started having problems in their marriage which resulted in divorce (Dee, 2011, p.122). Throughout this time in his life, Dahmer started to experience violent sexual urges. He could not discuss this with anyone because these fantasies were of men and Dahmer did not want to reveal his homosexuality (Hekma Hoving, 2000, p.78). Dahmer’s father eventually forced him to enlist in the army (â€Å"Jeffrey Dahmer†, 2015). Two years later, he was discharged with the reason again being his alcoholism (Crime, Museum, 2015). After this, he was arrested several times for drunk and disorderly conduct, indecent exposure, as well as drugging and sexually fondling a teenage boy (Dee, 2011, p.130). 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The Triangle Shirtwaist Factory Fire Free Essays

THE TRIANGLE SHIRTWAIST FACTORY FIRE: FROM TRAGEDY CAME CHANGE Donna Baker MG 420 14 February 2011 In the early 20th century, immigrants from Europe flooded Ellis Island in droves in search of â€Å"streets paved with gold† which they believed to be found in the United States. The majority of these immigrants settled in New York City to live in tenement housing and find work in the â€Å"30,000 factory floors and sweatshops that were located in Lower Manhattan. Each year, 612,000 workers, mostly immigrants were turning out one-tenth of the industrial output of the United States. We will write a custom essay sample on The Triangle Shirtwaist Factory Fire or any similar topic only for you Order Now A quarter of a million men, women and children labored without any regulations. †3 â€Å"The majority of garment workers were made up of Southern Italian and Eastern European Jewish immigrant women. They ranged in age from 15 to 23 and many spoke little English. †2 Their days were long. On average, workers put in â€Å"eleven hours, but most often they were sixteen to twenty hours, six days a week for which they were paid about $6 per week. †1 The women were subjected to intolerable, brutal working conditions where if you were sick, you came to work sick for fear of being fired. While on the job, it was common practice to be locked into your work space unable to go anywhere at-will. The nightmarish conditions were likened to working in a slave factory. â€Å"The doors were locked to keep out union organizers, to keep the women focused on their jobs, and to prevent the workers from stealing material. †2 â€Å"The hissing of the machines and the yelling of the foremen made it unbearable. Paychecks were docked or the workers were fired for humming or talking on the job. †3 The bathrooms were located outside and the workers were made to ask to be dismissed to use them. The shirtwaist makers were paid by the piece produced and speed was everything. The quality, however, was not important. â€Å"In some cases, they were required to use their own needles, thread, irons and occasionally their own sewing machines which they carried on their backs. †1 The â€Å"shirtwaist†, which is another name for a woman’s blouse, had a high neck, puffed long sleeves and was tightly fitted at the waist. It was â€Å"one of the country’s first fashion statements that crossed class lines. The booming ready-made clothing industry made the stylish shirtwaist affordable even for working women. Worn with an ankle-length skirt, the shirtwaist was appropriate for any occasion – from work to play – and was more comfortable and practical than fashion that preceeded it, like corsets and hoops. †1 The garment workers had the beginnings of representation to address implorable conditions, as basic as it was, when on â€Å"June 3, 1900 the International Ladies Garment Workers Union (ILGWU) was founded in New York City by representatives from seven local East Coast unions. The union represented both male and female workers who produced women’s clothing. Though affiliated with the more conservative American Federation of Labor for most of its history, the ILGWU was unusual in representing both semi-skilled and unskilled (automated) workers. †8 Although the ILGWU was formed, it did little to impact the working conditions at the factories. So, on â€Å"November 22, 1909 the ILGWU called a meeting in the Cooper Union Hall to consult its membership and map out a strategy. †8 The hall was packed full and there were many speakers who spoke endlessly. They promised their support but feared retaliation by the employers in the form of firings and physical harm. Clara Lemlich, a seamstress and union member who was 19 and already badly beaten for her part in union involvement, came forward and took the stage. She called for an immediate strike of all the garment workers and her motion was resoundingly endorsed. †1 This was to become known as â€Å"the largest strike of women in the history of the United States. †1 With in days, â€Å"more than 20,000 shirtwaist makers, from 500 factories, walked out and joined the picket line at Union Square. This was called the â€Å"Uprising of the 20,000†. More than 70 of the smaller factories agreed to the union’s demands within the first 48 hours. However, the fiercely anti-union owners of the Triangle factory met with owners of the 20 largest factories to form a manufacturing association. †1 â€Å"A month into the strike, most of the small and mid-sized factories settled with the strikers. †1 The garment workers went back to work. The factories making up the manufacturing association realized that the public opinion was not on their side and agreed to negotiate. The garment workers rejected their proposal because it prevented the workers from having a closed shop. Due to dwindling resources, this first union strike fell short. By â€Å"February 1910, the strike was finally settled and resulted in a â€Å"protocol of peace† between the women’s clothing industry and labor. †7 â€Å"The few remaining factories rehired the strikers, agreed to higher wages and shorter hours and recognized the union in name only, resisting a closed shop. †1 The Triangle workers went back to work without a union agreement. There were still no regulations of the working conditions. Management never addressed their demands, including unlocked doors in the factory and fire escapes that were functional. This will prove to be an extremely costly error within the following 13 months period of time. The Triangle Shirtwaist Factory was located in the Asch Building, occupying the top three floors of the ten-floor building in the heart of Manhattan’s Garment District. The company employed â€Å"over 500 men and women with the majority of them Jewish and Italian women ranging in age from 13-23. †3 Their work was primarily sewing shirtwaist blouses. The 8th floor was where the cutting room was situated. The 9th floor was where the sewers worked, lined machine to machine in many long rows, hunched over sewing machines that were operated by foot pedals. The finished shirtwaists hung on lines above the worker’s heads and bundles of material, trimmings, and scraps of fabric were piled high in the cramped aisle between the machines. †2 The 10th floor housed the company offices. On Saturday, March 25, 1911, at around 4:45pm, with 15 minutes left in the work day, a fire grew quickly out of control on the 8th floor cutters area. It is believed to have been caused b y a cigarette or match which was discarded either on the floor covered with sewing machine oil or in one of the cloth scrap containers, or possibly from a spark put off from the overheating of an electric cutters machine. Fed by thousands of pounds of flammable fabric†6 fire engulfed the area and spread to the floors above in record speed. Most of the workers on the 8th floor were able to make their way to safety by using the stairs or elevator. The workers on the 10th floor â€Å"received a phone call about the fire and were able to climb to the roof of the building and made their way to the adjoining New York University building and were rescued. †6 The unfortunate workers on the 9th floor, however, didn’t stand a chance. Their fates were sealed because â€Å"the only safety measure available for them were 27 buckets of water, a fire escape that would collapse when people tried to use it, and 2 exit doors which were locked or only opened inward and were effectively held shut by the onrush of workers escaping the fire. †5 About 200 women were trapped on the 9th floor with no means of escape. â€Å"Twenty women made it out on the fire escape before it crumpled to the street, killing a number of women who were on it. Some attempted to slide down the elevator cables only to lose their grip and fall to their deaths. 2 The desperate women didn’t know what else to do, so they began breaking out the windows and climbing out on the narrow ledge from which they jumped from the 9th floor to the street below. Some were on fire and burning as they fell. â€Å"For the fire department, the horror story that unfolded was compounded by the fact that although their equipment was the most sophisticated o f its day, the ladders only reached up to the 6th floor. †6 Firemen watched helplessly as workers died before their very eyes. The water pressure in the hoses failed. And the life nets broke when the desperate women jumped in groups of three and four. In less than 30 minutes, the fire had spent itself. In its wake it left 146 dead. †3 â€Å"Of the 146 who died, 141 died at the scene and 5 died at the hospital. Six of these victims were never identified. Most died of burns, asphyxiation, blunt impact injuries or a combination of the three. †2 It is often thought that most or all of the dead were women but, in reality, â€Å"almost thirty of the victims were men. †4 The Triangle fire became known as â€Å"the deadliest industrial disaster in the history of the city of New York and resulted in the fourth highest loss of life from an industrial accident in U. S. history. 4 Three months after the fire, the owners of the Triangle Shirtwaist Factory, Max Blanck a nd Isaac Harris were â€Å"indicted for manslaughter and acquitted of all charges. †6 It was believed that they broke no laws. â€Å"Three years after the fire, a court ordered the owners to pay $75. 00 to each of the twenty-three families who had sued for the loss of family members. †3 â€Å"From the ashes of the Triangle Shirtwaist Factory fire came the greatest political transformation in American history to bring about social welfare legislation. †4 â€Å"The horrors of the bodies and the number of dead was the key to change. 2 The Triangle fire brought everyone together emotionally and spiritually to want change. â€Å"The resulting reform became an epic event. It took four grueling years of factory investigations by the Factory Investigating Commission to investigate fire safety as well as other conditions affecting the health and welfare of factory workers. †2 â€Å"Among the results of the Triangle Shirtwaist Factory fire are that the New York S tate Assembly enacted legislation that required installation of automatic sprinkler systems in buildings over seven stories high that had more than 20 people employed above the 7th floor. Legislation also provided for fire drills and the installation of fire alarm systems in factory buildings over two stories high that employed 25 persons or more above the ground floor. Additional laws mandated that factory waste should not be permitted on factory floors but instead should be deposited in fireproof receptacles. Because of bodies found in the open elevator shafts of the Asch Building, legislation was enacted that required all elevator shafts to be enclosed. †9 WORKS CITED How to cite The Triangle Shirtwaist Factory Fire, Essay examples

Efficient Market Hypothesis Pension Fund Managers

Question: Discuss about theEfficient Market Hypothesis for Pension Fund Managers. Answer: Introduction: The current study is concerned with evaluating the main functions of Chief Financial Officer (CFO) and also discuss the strategy of pension fund managers in the light of efficient market hypothesis. The role of CFO is crucial for any organization and efficiency of a CFO impacts organizational performance and thus the study discusses the impact of CFO roles on organizational objectives. The study further discusses the various aspects of efficient market hypothesis theory followed by an evaluation of the investment strategy pursued by pension fund managers. Discussion: The chief financial officer of a company is among the senior executives of the company whose main responsibility is to manage the financial actions of the company they are working for. The CFO also requires keeping a track on the financial strengths as well as weaknesses of the company and proposes the remedial measures. In the words of Hiebl (2015), it is the responsibility of a CFO to ensure the authenticity of the financial reports of the company. As observed by Sweeney (2013), the retail companies in Australia are facing a serious completion from their rival firms due to the emergence of many new companies. The Adairs Retail Group Pty Ltd currently operating in Australia has a series of retail stores across the country providing products of home dcor for sale. The company also provides the services through its online portals. Here, the responsibilities of a CFO are of paramount importance as a CFO has to manage the finances of the Adairs Retail Group Pty Ltd to get the best possible outcomes. The responsibilities of a CFO in Adairs Retail Group Pty Ltd can be sub divided into the following categories namely Responsibility as a Controller of the Company Accounting According to Liang and Chang (2014), it falls under the prime responsibility of a CFO to ensure that the presentation and reporting of the annual reports are accurate. The historical information of the reports of Adairs Retail Group should also be placed accurately as a lot of important decisions regarding the investment to be done by the shareholders, creditors; employees etc are dependent on the accuracy of the financial reports. It is also imperative that the accurate financial reports of Adairs Retail Group be published on time to make beneficial for the investors to choose between companies for investment. The CFO of Adairs Retail group is responsible to ensure the appropriation regarding the accounting allocations and its documentation. As observed by Hoitash et al. (2012), the CFO may also require undertaking the responsibility of cash management and keep a check on the cash disbursements, accounts payables and receivables along with the bank reconciliation and pay roll functions. Internal Control As opinioned by Proctor (2014), it is the responsibility of the CFO of Adairs Retail Group to construct and execute the financial strategies and accounting process. The CFO of the following company needs to review and approve the invoices that are to be paid along with the reports of the accounts receivables. In the words of Amato (2016), the CFO of Adairs Retail Group also requires coordinating with the auditors and external tax accountants in order to prepare the income tax structure of the company. In addition to that, the CFO of Adairs Retail Group will have to organize the records of the company in a manner that may make it easily accessible for the purpose of examination. Financial analyzing, planning and reporting Under this area of responsibility, the CFO of Adairs Retail group has to review all of the financial contracts, agreements and the financial policies along with the credit negotiation and the vendor agreements. As said by Friedman (2015), in order to frame the long term financial strategies it falls under the duty of a CFO to provide a comprehensive financial data. The CFO of Adairs Retail Group needs to ensure the coordination of the financial planning with the business operations. The financial analysis skills of the CFO of Adairs retail Group may also help the company to assist the decisions of policy making by the executive management. As observed by Agrawal et al. (2013), this indicated that the CFO also needs to be an expert in providing expert perspective and opinion regarding finances of Adairs retail Group. The CFO has to administer the finances and takeover the reporting duty in maintaining the financial statements and budgets of the company as well. Responsibility as a Treasurer of the Company In the words of Armstrong et al. (2016), the maintenance of the financial position and improving the financial condition of the company comes under the responsibility of the CFO. The capital structure of Adairs Retail Group has to be overseen by the CFO of the company. It is one of the major responsibilities of the CFO of the following company to determine the best possible mixture of the debt, equity and the internal finances. According to Bttner et al. (2013), one of the major treasurer functions of the CFO includes addressing the problems associated with the capital structure of Adairs Retail Group. In addition to the above responsibilities as a treasurer, the CFO of Adairs Retail Group will require coordinating the budgeting and investing activities in all parts of the company. In the words of Wright (2015), the rates of depreciation of the capitalized assets are determined by the CFO and the necessary advice is also given by the CFO of Adair Retail Group regarding the purchase and lease of the assets along with the disposal of the same. The CFO also provides the required guidelines for the use of the financial resources of Adairs Retail Group and the necessary steps to be taken in regard to the budget policies and procedures of the same. Along with the above mentioned responsibilities, the CFO of Adairs Retail groups monitor the performance of the financial staffs and recommend actions to be taken in context of the promotion or dismissal of the same. Responsibility of Forecasting Economic Strategies The CFO of Adairs Retail Group plays an essential part in the future financial situation of the company. in the words of Barsky and Catanach (2013), the identification of the areas in which the company is most efficient and the ways in which the company can capitalize from this is determined by the CFO of the company. The CFO also makes future predictions and allocates the resources of the company similarly to ensure the future success of Adairs Retail Group. In addition to this, according to Six et al. (2013), the CFO requires to coordinate the data and the analysis of it throughout the workings of the company to identify the possibility of the occurrence of risks and expansion opportunities. The CFO does an analysis of the new markets in order to expand the business to a new level. The internal and financial control systems are also formulated by the CFO of Adairs Retail Group. The management of the company also gets subsequent support in the development of the growth strategies by analyzing the economic as well as industry trends. According to Habib and Hossain (2013), it is the duty of the CFO of Adairs Retail Group to keep a check on the ongoing performance of the company regarding its growth and accomplishment of the objectives of the company and taking the appropriate measures to ensure that the company is meeting its organizational goals. The submission of the annual reports of the company on the prescribed time is also looked upon and ensured by the CFO of Adairs Retail Group. Above all, the CFO has to manage the financial reporting done by the company both internally as well as externally. The Chief Finance Officer or CFO of a company helps in shaping the business and increase the integration of the company in the global economy. As per the view of RW Hiebl and Feldbauer-Durstmller (2014), the duty performed by the CFO of a company of being a controller, treasurer as well as of forecaster helps the company in determining through the financials of the company about the growth of the same and how far the company is able to fulfill the objectives. As a controller, the CFO looks upon the financial reports of the company and through a brief analysis of it draws a outcome of the areas in which the company may withdraw maximum revenue. This helps in meeting the basic objective of Adairs Retail Group that is to generate the maximum amount of profits. As observed by Bishop et al. (2014), in the form of a treasurer, the CFO helps in the proper allocation of the resources of the company that may reduce the cost of production and other expenses incurred by the company that in turn may reduce the cost of productivity incurred by the company and increase the profit margin of the product thus fulfilling the basic objective of the company. The CFO of Adairs Retail Group also does an extensive analysis of the industry in which the company is operating along with the market structure of the same. The purpose of analyzing is to identify the areas of growth of the company and make strategic plans as well as prepare to face the increasing completion in the market that may help the company to sustain in the long run. It is one of the major objectives of Adairs Retail Group to face the rise in competition and expend its growth throughout the industry. Efficient Market Hypothesis (EMH) is a popular theory in corporate finance which holds that it is not possible to beat the market as stock market efficiency makes the current stock prices to incorporate and indicate all relevant information. As per the theory, stocks always get traded at the fair value in the stock market which further makes it impossible for the investors to sell stocks of inflated price and buy undervalued stocks. Therefore, the theory suggests that it is impossible to outperform the stock market by way of market timings or stock selection by market experts. In this context, Habib and Hossain (2013) stated that the EMH theory observes that the only way to beat the market is by investing in high risk stocks to earn higher returns. The EMH theory has major impacts on portfolio managers, pension fund managers and others. The EMH theory is undoubtedly a cornerstone in advanced financial theory however it has also raised certain controversies. Pension fund managers supporting this theory think that it is meaningless to look out for undervalued stocks or try to predict trends in market by way of technical or fundamental analysis. However, it is important to note that there has been investors who have been able to beat the market consistently over the years. For example, Warren Buffet had beaten the stock market to earn more than average returns which as per the EMH theory is not possible. Similarly, during the stock market crash in the year 1987, Dow Jones Industrial Average (DJIA) got reduced by 20% on a single day which indicates that in contrast to the EMH theory stock prices can get reduced from fair values. Pension fund managers can focus on low cost portfolio with a passive investment strategy. Most of the pension fund managers pursuing EMH theory are more concerned with portfolio diversification, passive investment strategy and total market index as a benchmark for performance. The pension fund managers think that there is no way of knowing the future performance of a company not even by studying past performance. This makes the pension fund managers to play safe and apply passive investment strategy for the clients. Portfolio for the clients is also developed accordingly. In this context, Hoitash et al. (2012) stated that passive investment strategy involves buying and holding stocks for a long-term period to earn good returns thereon. Another important aspect in this regard is that the pension fund managers believe that buying and holding stocks for a long-term period automatically sets-off short-term market inefficiencies. On the contrary, the market might not always be efficient as held by the EMH theory. Pension funds often try to avoid small cap stocks. This is mainly because of the additional requirements associated with such stocks. On the other hand, it is also a practice of the pension fund managers to sell-off stocks that no longer meet the investment objectives regardless of its current state of performance level. Thus, the main focus of pension fund managers is on fulfilling clients pension objectives. The strategy is on creating a fixed flow of income post retirement of the clients. Conclusion: sThe study indicated that controlling organizational activities, treasury management and forecasting are the three major functions of a CFO. It was observed during the study that a CFO is entrusted with the responsibility of maintaining integrity in all financial reporting and ensuring proper compliance of the same to statutory norms. On the other hand, CFOs are required to maintain optimum cash and liquidity level in the organization at any point of time and that forecasting financial benefits risks is a key part of the CFOs roles. Furthermore, it was found that EMH assumes that it is not possible to beat the market and therefore pension fund managers can pursue passive investment strategy to provide a stable income flow to the clients. Reference List: Agrawal, A., Goldie, J. and Huyett, B., 2013. Todays CFO: which profile best suits your company.McKinsey Q,1, pp.1-6. Amato, N., 2016. Controller to CFO: Not a straight, simple path.Journal of Accountancy,221(3), p.34. Armstrong, C., Guay, W.R., Mehran, H. and Weber, J., 2016. The role of financial reporting and transparency in corporate governance.Economic Policy Review, Issue Aug, pp.107-128. Barsky, N.P. and Catanach Jr, A.H., 2013. What makes a CFO" the best"?.Strategic Finance,94(10), pp.29-35. Bishop, C.C., DeZoort, F.T. and Hermanson, D.R., 2014. The Effect of CEO Social Influence Pressure on CFO Financial Reporting Decisions. Bttner, V., Schffer, U., Strauss, E.R. and Zander, K., 2013. A Role-Specific Perspective on Managerial Succession: The Case of New CFO Origin.Schmalenbach Business Review,65, pp.378-408. Friedman, H.L., 2015. The Strategic CFO? Implications of the CFO's Role and Responsibilities.Implications of the CFO's Role and Responsibilities (August 18, 2014). AAA. Habib, A. and Hossain, M., 2013. CEO/CFO characteristics and financial reporting quality: A review.Research in Accounting Regulation,25(1), pp.88-100. Hiebl, M.R., 2015. Agency and stewardship attitudes of chief financial officers in private companies.Qualitative Research in Financial Markets,7(1), pp.4-23. Hoitash, R., Hoitash, U. and Johnstone, K.M., 2012. Internal control material weaknesses and CFO compensation.Contemporary Accounting Research,29(3), pp.768-803. Liang, Z. and Chang, Y., 2014. Empirical Study on the Relevance of CFO Characteristics and the Capital Structure of Real Estate Listed Companies in China. InICCREM 2014: Smart Construction and Management in the Context of New Technology(pp. 1447-1454). ASCE. Proctor, B., 2014. The changing role of the CFO: new demands require new fundamentals.Financial Executive,30(2), pp.23-25. RW Hiebl, M. and Feldbauer-Durstmller, B., 2014. What can the corporate world learn from the cellarer? Examining the role of a Benedictine abbey's CFO.Society and Business Review,9(1), pp.51-73. Six, B., Normann, M., Stock, R.M. and Schiereck, D., 2013. Strategic Leaders Impact on Corporate Policies and Firm Performance: Insights from CEOs and CFOs of Large Listed Firms in Germany.Schmalenbach Business Review,65, pp.82-111. Sweeney, P., 2013. The CFO's expanding communications role: for reasons related to transparency and contact with senior management from key constituents, the chief financial officer is increasingly playing a greater role in investor relations. CFOs are now finding it necessary to improve their communication and other" soft" skills.Financial Executive,29(2), pp.33-36. Wright, L., 2015. Pros and Cons of Being the CEOs Trusted Advisor. InHR in the Boardroom(pp. 160-181). Palgrave Macmillan UK.