INCLUSION OF HUMAN CAPITAL IN THE CALCULATION OF WACC

Economic Value Added (EVA) is very weak in the Indian business organization. The acceptance level is very low rather popularity of its theoretical aspects. The researcher has found that there is a gap in the study of acceptance level of human capital relations to contemporary financial analysis EVA in the Indian context. The study has attempted to focus on the performance of the organization through human capital which contributes as well enhance Economic Value Addition of the organization. EVA is a financial performance metric that measures value based on adjusted accounting data to assess financial performance and help a company grow. (Stewart, p.3; Makelainen and Rozticki, 1998, p.7) Economic Value Added measures the profitability of a company after taking into account the cost of all capital including equity. It is the post-tax return on capital employed (adjusted for the tax shield on debt) minus the cost of capital employed.The dichotomy in accounting between human and non-human capital is fundamental. The latter is recognized as an asset and is therefore recorded in the books and reported in the financial statements, whereas the former is ignored by accountants. The definition of wealth as a source of income inevitably leads to the recognition of human capital as one of the several forms of wealth such as money, securities and financial capital. The study found that it is very difficult to measure human capital in Indian organization due to different HR practices in different organization depending upon the size and nature of the business.It is difficult to calculate the cost of capital including human capital, so the organizations face limitation to keep the record in measuring human capital and return on human capital in value-added financial statement (EVA) in quantitative terms. Although the organizations in European countries, USA and China have quantified the Return on Investment (ROI) through human capital and thereby found out the true economic profit of the organizations assumed as performance measurement and reflects in value –added financial statements; Economic Value Addition.However, in Indian context, there are organizations that have used Lev and Schwartz model to validate human capital. But, majority of manufacturing and service industries have not yet perceived that the assessment of economic value addition is possible through measurement of human capital.After an exhaustive literature survey, the paper will discuss the intertwined concepts of EVA and human capital. The paper first has explored the definitions of human capital cited by different researchers and also has attempted to find out the impact of EVA of the organization after incorporating cost of human capital in the Weighted Average Cost of Capital (WACC)

Impact of Human Capital Incorporation on Economic Value Added of Large Scale Organizations: A Conceptual Managerial Decision Making Approach

In today’s turbulent times, Corporate have realized the importance of human capital in the corporate world. But there was no such method suggested to show human capital in the framework of conventional accounting. After an exhaustive literature survey, the paper has focused on financial approach towards human capital management and has developed a conceptual managerial decision making model of Economic Value Added (EVA) with incorporation of human capital in the calculation of Weighted Average Cost of Capital (WACC) which will help the organizations in the long run to know the real value of EVA which has become the real indicator for the increase or decrease in shareholders fund. The appropriate value of EVA differs from organizations to organizations depending upon different HR practices, size, and nature and planned outcomes of the business. The paper first has explored the concept of EVA and Human Capital Management and economic definitions cited in Google website and has attempted in citing human capital definition which has been derived from the conclusion of the study. The paper has also attempted in framing a calculation methodology (Dash. Sujata. P (2013), “Inclusion of human capital in the calculation of WACC”, European Scientific Journal, Vol.9, No.28, pp. 405-421) to find out the true economic profit that is the EVA of any organizations in Indian context irrespective of manufacturing and service sector industries which gives an insight about the appropriate value which directly reflects the true wealth of the shareholders after incorporating human capital in the calculation of WACC. Any organizations can utilize the calculation methodology and can thereby enhance the performance of their organization using EVA because EVA is a financial performance metric that measures value based on adjusted accounting data to access financial performance and help a company grow. (Stewart, p.3, Makelainen & Rozticki, 1998, p.7). EVA measures the profitability of a company after taking into account the cost of all capital including equity. It is the post -tax return on capital employed (adjusted for the tax shield on debt) minus the cost of capital employed.   The paper finally describes the conceptual managerial decision making model of EVA with inclusion of human capital and tested the role of human capital management in economic value addition of large scale organizations empirically. Keywords: Human Capital, Human Capital Management, Economic Value Added, Weighted Average Cost of Capital

Seborrahic keratitis: a benign pigmented skin lesion management

Seborrhoeic keratosis are formed from the basal layer of epidermal cells and contain melanocytes. Many terms such as senile wart, melanoacanthoma, basal cell papilloma, senile keratosis and seborrhoeic wart have been applied, but seborrhoeic keratosis is the most widely accepted term. In our case a 50-year-old female presented to the surgery OPD with a painless pigmented skin lesion 2.5cm lateral to the left lateral canthus and 1cm below the hairline of size of 4 *4cm. Pigmented lesion was from last 8 years and slowly progressive in nature and was not associated with any co morbid conditions. On clinical evaluation the clinical diagnosis of epidermal nevus was given and an excisional biopsy with rhomboid flap placement was performed and the tissue was sent for histopathological examination. Post operative period was uneventful and the histopathology report states the seborrhoeic keratosis. Hence, lesions for which the diagnosis is uncertain, based on the history and gross examination, should be biopsied for histopathologic examination to rule out malignancy

A Qualitative Systematic Review of the Role of N-Methyl-D-Aspartate Receptor Antagonists in Preventive Analgesia

We evaluated in a qualitative systematic review the effect of N-methyl-D-aspartate (NMDA) receptor antagonists on reducing postoperative pain and analgesic consumption beyond the clinical duration of action of the target drug (preventive analgesia). Randomized trials examining the use of an NMDA antagonist in the perioperative period were sought by using a MEDLINE (1966–2003) and EMBASE (1985–2003) search. Reference sections of relevant articles were reviewed, and additional articles were obtained if they evaluated postoperative analgesia after the administration of NMDA antagonists. The primary outcome was a reduction in pain, analgesic consumption, or both in a time period beyond five half-lives of the drug under examination. Secondary outcomes included time to first analgesic request and adverse effects. Forty articles met the inclusion criteria (24 ketamine, 12 dextromethorphan, and 4 magnesium). The evidence in favor of preventive analgesia was strongest in the case of dextromethorphan and ketamine, with 67% and 58%, respectively, of studies demonstrating a reduction in pain, analgesic consumption, or both beyond the clinical duration of action of the drug concerned. None of the four studies examining magnesium demonstrated preventive analgesia

ARTIFICIAL INTELLIGENCE (AI) BASED METHODS AND SYSTEMS FOR MAXIMIZING CREDIT CARD REVENUE

The present disclosure is related to field of Artificial Intelligence (AI) and finance that provides AI based methods and systems for maximizing credit card revenue. The objective of the methods and systems disclosed in the present disclosure is to induce spending by personalizing offers and communications that are tailored towards customer need, identifying potential revolvers in the credit card portfolio to give them right line of credit and treatment to enrich their revolving experience, build portfolio balance through installment loan sell and proactively, identifying potential attritors and stop the portfolio leakage. To achieve the aforementioned objectives, the claimed invention provides a hybrid market recommender for personalizing offers and communications, revolve prediction model for identifying revolving behaviour, instalment prediction model for identifying installment loan takers, balance attrition model for identifying potential customer leakage, and heavy machine learning models for predictive model development. Further, the present disclosure also provides an all in one robust and comprehensive solution that is a combination of all the aforementioned models and provide targeted recommendations to a group of similar customers

Role of Uroflowmetry in Children with Ano-Rectal Malformation in Anticipating Upper Urinary Tract Damage

Background: The lower urinary tract dysfunction (LUTD) has high incidence in children with ano- rectal malformation (ARM) which if left untreated leads to upper tract damage.Aim: To determine role of uroflowmetry in early diagnosis of LUTD in children with ARM.Methods: This prospective study included twenty consecutive patients of ARM and every patient underwent uroflowmetry at-least 6 weeks after definitive procedure.Results: The mean age of patients was 3.015±0.86 years. Of the twenty patients, there were 12 (60%) males and 8 (40%) females; 11 (55%) were high ARM, 4 (20%) were intermediate and 5(25%) were low ARM. Lower urinary tract symptoms (LUTS) was present in 8/20 (40%) patients but uroflowmetric abnormalities were present in 11/20 (55%) patients. Forty five percent (5/11) patients with abnormal uroflowmetry were asymptomatic and 25% (2/8) symptomatic patients had normal uroflowmetry. The incidence of uroflowmetric abnormalities was significantly higher in patients with spinal anomalies (p=0.03; χ2=4.1) and those with high ARM (p=0.004; χ2=8.1).Conclusion: Uroflowmetry is a noninvasive method that may help in early detection of neurovesical dysfunction in asymptomatic children and subsequent cystometric analysis in patients with uroflowmetric abnormalities can be done for early definitive diagnosis and prevention of upper urinary tract damage

Usunięcie przemieszczonych stentów z pnia lewej tętnicy wieńcowej w trakcie przezskórnej interwencji wieńcowej techniką trappingu

Dislodgement and embolisation of the new generation of drug eluting stents is a very rare but recognized and potentially serious complication of percutaneous coronary intervention (PCI). Various methods from including tangling wire, bioptome, and goose neck snare to surgical removal have been described. Here we report a case of successful retrieval of a deformed coronary stent from left main coronary artery by trapping technique.Przemieszczenie stentu nowej generacji wydzielającego lek i związany z tym zator to bardzo rzadkie, lecz znane powikłanie przezskórnej interwencji wieńcowej, które może się wiązać z poważnymi następstwami. Opisywano różne metody chirurgicznego usunięcia stentu z życiem rozmaitych narzędzi endoskopowych, w tym narzędzi z końcówką w postaci splątanego drutu, szczypczyków biopsyjnych i pętli. W niniejszej pracy przedstawiono przypadek skutecznej ewakuacji zdeformowanego stentu wieńcowego z pnia lewej tętnicy wieńcowej techniką trappingu

A rare case of meningioma with extracalvarial extension: A Case report

Meningioma is a common primary tumor of the central nervous system. Here, we describe a case of meningioma en plaque with intracranial mass with osteolysis with extracalvarial extension. The patient was a 54 years male who presented to us with a rapidly growing mass in the left frontal region. On magnetic resonance imaging brain, the mass was avid heterogeneously enhancing extra-axial lesion in the left frontal lobe with surrounding cerebrospinal fluid cleft with an erosion of overlying frontal calvaria on the left side with an extracranial component. Simpson’s grade 1 excision was carried out. Histopathology showed a meningothelial meningioma with low tumor cell proliferation but with infiltration into the bone and angioinvasion. The patient was taken for radiotherapy. The patient recovered well in the post-operative period

Large intramuscular plexiform neurofibroma of thigh: a multidisciplinary team approach

Large plexiform neurofibroma of lower extremity involving the muscle is a rare entity. In this article we present the case of plexiform neurofibroma of right thigh involving the muscular plane and entrapment of the sciatic nerve. A 28 year lady presented with a plexiform neurofibroma of right thigh of size 60 cm×30 cm×25 cm with a positive family history of neurofibromatosis type 1. MRI was done for the assessment of the tumour and the adjacent structure involvement. The neurofibroma was removed with a multidisciplinary team approach with an intensive peri operative management. The pathological diagnosis was plexiform neurofibroma with diffuse neurofibroma. We have reported a rare case of large plexiform neurofibroma of lower extremity with muscle involvement and nerve entrapment