The credit relationship between Henry III and merchants of Douai and Ypres, 1247-70

This article looks at an important but neglected aspect of medieval sovereign debt, namely ‘accounts payable’ owed by the Crown to merchants and employees. It focuses on the unusually well-documented relationship between Henry III, King of England between 1216 and 1272, and Flemish merchants from the towns of Douai and Ypres, who provided cloth on credit to the royal wardrobe. From the surviving royal documents, we reconstruct the credit advanced to the royal wardrobe by the merchants of Ypres and Douai for each year between 1247 and 1270, together with the king's repayment history. The interactions between the king and the merchants are then analysed. The insights from this analysis are applied to the historical data to explain the trading decisions made by the merchants during this period, as well as why the strategies of the Yprois sometimes differed from those of the Douaissiens.

EC94-852 Cash Flow Planning Form

This extension circular covers the following areas of a cash flow planning form: Beginning Cash Balance, Operating Sales (crop and hay, market livestock, livestock product, custom work); Capital Sales (breeding livestock, machinery and equipment); Personal Income (wages, interest); Operating Expenses (car/truck, chemicals, conservation, custom hire, feed purchased, fertilizers and lime, freight and trucking, gasoline, fuel and oil, insurance, labor hired, rents and leases, repairs and maintenance, seeds and plants, storage, warehousing, supplies, taxes, utilities, veterinary, breeding fees and medicine, feeder livestock); Capital Purchases (breeding livestock, machinery and equipment, family living withdrawals, personal investments, income and social security, term loan payments); Net Cash Available (operating loan borrowings, operating loan payments); and Ending Operating Loan Balance. Along with the Cash Flow Planning Form is a Projected Income Statement Form which covers Projected Business Income (operating sales, breeding livestock, estimated cash income adjustments, estimated gross revenues, estimated value of production); Project Business Expenses (cash operating, esimated operating, prepaid and supplies, cash investment in growing crops, accounts payable); Projected Net Income Summary (estimated net income from operations, estimated net business income, estimated net income after taxes, estimated earned net worth change); and a Physical Inventory Flows Worksheet.

The trade credit in the Spanish agrofood industry

Selling on credit is rather frequent in Mediterranean countries. Its generalized use can lead to excessive enlargements of the payment periods and consequently can deteriorate the profitability of firms. In spite of the relevance of this problem there are few empirical researches. This work intends to fill this gap and to shed light on the factors related to the extension of trade credit. In the theoretical and empirical literature, different motives have been proposed to explain this issue: a mechanism to reduce transaction costs, a financial alternative to the bank system and an additional tool to improve commercial activities. To contrast these ideas a panel of 388 firms of the Spanish agrofood industry has been taken, and static and dynamic regression models have been estimated by using robust methods to heteroskedasticity, autocorrelation and endogeneity of the explanatory variables. The results confirm that trade credit receivable is associated with more active firms and with cheaper bank financing. Other factors with positive relationships are short-term bank debts and accounts payable. These findings are consistent with commercial motives, rather than a pure financial view, in the sense that financial distressed producers extend trade credit as a way of promoting their products and in turn increasing their sales.

Account books of Thomas Cradock, 1786-1818 (inclusive)

Account books listing patients, medicines administered, and fees charged by Dr. Thomas Cradock (1752-1821), primarily in Maryland, from 1786 to 1818. In addition to recording names, Cradock occasionally noted demographic information, the patient's location, or their occupation: from 1813 to 1816, he treated Richard Gent, a free African-American man; in 1813, he attended to John Bell, who lived in the Foggy Bottom neighborhood of Washington, D.C. Cradock further noted if the patient was a slave and the name of his or her owner. He would also administer care on behalf of corporate entities, such as Powhatan Factory, which apparently refused him payment. He also sometimes included a diagnosis: in the cases of a Mr. Rowles and Mrs. Violet West, he administered unspecified medicines for gonorrhea at a cost of ten dollars. Commonly prescribed drugs included emetics, cathartics, and anodynes. Cradock also provided smallpox vaccination for his patients. He accepted both cash and payment-in-kind. Tipped into the first volume is an envelope containing a letter from the Medical and Chirurgical Faculty of Maryland to Mrs. Thomas Craddock in 1899 requesting a loan of portrait of Dr. Thomas Craddock [sic]. The three volumes also each contain an index to patient names.

Account book of Benjamin Gale, 1740-1748 (inclusive)

Ledger containing lists of patient names and payments to Dr. Benjamin Gale (1715-1790) of Killingworth (now Clinton), Connecticut, primarily in 1743. Entries mostly included charges for "sundry" items and visits to patients by Gale, who accepted both cash and payment-in-kind.

Account books of William Aspinwall, 1776-1812 (inclusive)

Two account books containing entries noting patients visited, fees charged, and small accounts of Dr. William Aspinwall (1743-1823) in Boston and Brookline, Massachusetts, from 1776 to 1812. He includes sections for "Women's Accounts" with charges generally rendered to their husbands or other male relatives. There is also an entry charging the town of Cambridge, Massachusetts, four dollars and fifty cents for medicines and attendance to a boy who contracted smallpox.

Account book of Job Godfrey, 1787-1809 (inclusive)

Ledger kept by Dr. Job Godfrey (1742-1813) of Taunton, Massachusetts, containing records of patients, medical services rendered, and fees charged between 1791 and 1797, which were updated with payment transactions through 1809. There are also notes on Godfrey's medical practice dated from 1787, including an entry on a nine-year-old girl he dissected after her death. There are additionally credits or debits listed for household transactions.

Account book of Daniel Brigham, 1781-1798 (inclusive)

Account book maintained by Dr. Daniel Brigham (1760-1830) for services provided to approximately 180 patients, treated primarily in Northborough, Westborough, and Marlborough, Massachusetts, and surrounding towns between 1781 and 1798. The ledger details the charges for his visits to patients and medicines he prescribed. Common charges included one shilling, four pence for Brigham to visit and administer an emetic or cathartic to a patient. A visit and bloodletting by Brigham cost one patient two shillings, eight pence. He charged six shillings to amputate a toe, and eight pence to extract a tooth. Includes an index to patient names. The ledger also records household and miscellaneous expenses of Brigham.

Account books of Sylvester Woodbridge, 1792-1826 (inclusive)

Consists of seven account books kept by Dr. Sylvester Woodbridge (1754-1824) from 1792 until his death containing entries that record charges for medical visits and administration of medicines, and sales of sundry and grocery items, as well as occasional personal notes and the names of Woodbridge's apprentices and their participation in his Southampton, Massachusetts, medical practice. Woodbridge's methods of treatment were typical for the era: he most commonly prescribed vomits and purgatives for patients. Volume 6 contains loose pages and letterbooks tucked in related to accounting and to the amount and type of wood Woodbridge was buying for his house, and papers dated after his death.

Doctor Daniel Brigham's Book, 1789-1810 (inclusive)

Ledger maintained by Dr. Daniel Brigham (1760-1837) containing financial accounts for medical patients treated primarily in Northborough, Westborough, and Marlborough, Massachusetts from 1789 to 1837. The ledger details the charges for medical services and the corresponding payments, often made by payment-in-kind. Common charges included a shilling for a visit and administration of cathartics, emetics, or anodynes. Extraction of a tooth cost eight pence, and Brigham charged one woman nine shillings for delivering her son. A number of entries are obscured by pasted-in newspaper articles.

Account book of David Townsend, 1774-1791

Account book kept by Dr. David Townsend (1753-1829) that records patients treated, illnesses, and fees charged in Boston, Massachusetts, and neighboring towns from 1774 to 1791. His patients included a number of soldiers and sailors, as well as figures like the French-American writer John Hector St. John (1735-1813). Townsend's treatments typically consisted of delivering cathartics or emetics. For the family of Samuel Appleton, Townsend administered smallpox inoculation in 1776, charging him 4 pounds, 4 shillings. Townsend sometimes recorded the occupation or race of the patient. For example, he attended the delivery of a child of Sappho Henshaw, "black girl," in 1786; in 1787 he attended to an unnamed "black man at [who lived at the] corner of Board Alley" in the North End of Boston. Other patients included John Hancock (1736-1793) and members of Hancock's household, as well as Federalist publisher John Fenno (1751-1798).

Using knowledge management to give context to analytics and big data and reduce strategic risk

At the moment, the phrases “big data” and “analytics” are often being used as if they were magic incantations that will solve all an organization’s problems at a stroke. The reality is that data on its own, even with the application of analytics, will not solve any problems. The resources that analytics and big data can consume represent a significant strategic risk if applied ineffectively. Any analysis of data needs to be guided, and to lead to action. So while analytics may lead to knowledge and intelligence (in the military sense of that term), it also needs the input of knowledge and intelligence (in the human sense of that term). And somebody then has to do something new or different as a result of the new insights, or it won’t have been done to any purpose. Using an analytics example concerning accounts payable in the public sector in Canada, this paper reviews thinking from the domains of analytics, risk management and knowledge management, to show some of the pitfalls, and to present a holistic picture of how knowledge management might help tackle the challenges of big data and analytics.

Improving the Asset Inventory Process

The South Carolina Department of Education (SCDE) is required by the State of South Carolina to provide an accurate physical count of all Capitalized assets listed on their inventory by the end of the fiscal year. There were no published procedures for employees to follow as guidelines for identifying, tracking, reporting and disposing of assets. This has led to errors in identifying items that require asset numbers, completing the shopping carts and transfer/disposal of assets. These errors cause additional work for the Asset Accountant, Procurement Analyst and Accounts Payable Supervisor. The scope of this project is to improve the fixed asset process by developing and publishing asset inventory procedures to ensure accountability and accuracy of all item listed on SCDE inventory.

Extinction of affective learning: No evidence for dual process accounts of human learning

The acquisition and extinction of affective valence to neutral geometrical shape conditional stimuli was investigated in three experiments. Experiment 1 employed a differential conditioning procedure with aversive shock USs. Differential electrodermal responding was evident during acquisition and lost during extinction. As indexed by verbal ratings, the CS1 acquired negative valence during acquisition,which was reduced after extinction. Affective priming, a reaction time based demand free measure of stimulus valence, failed to provide evidence for affective learning. Experiment 2 employed pictures of happy and angry faces as USs.Valence ratings after acquisitionweremore positive for theCS paired with happy faces (CS-H) and less positive for the CS paired with angry faces (CS-A) than during baseline. Extinction training reduced the extent of acquired valence significantly for both CSs, however, ratings of the CS-A remained different from baseline. Affective priming confirmed these results yielding differences between CS-A and CS-H after acquisition for pleasant and unpleasant targets, but for pleasant targets only after extinction. Experiment 3 replicated the design of Experiment 2, but presented the US pictures backwardly masked. Neither rating nor affective priming measures yielded any evidence for affective learning. The present results confirm across two different experimental procedures that, contrary to predictions from dual process accounts of human learning, affective learning is subject to extinction.

Facilitation of 5-HT(1A)-mediated neurotransmission in dorsal periaqueductal grey matter accounts for the panicolytic-like effect of chronic fluoxetine

Chronic administration of antidepressants such as fluoxetine and imipramine increases the responsiveness of 5-HT(1A) receptors in dorsal periaqueductal grey matter (DPAG), a midbrain area consistently implicated in the pathogenesis of panic disorder. This effect has been related to the clinically relevant anti-panic action of these drugs. In this study we determined whether long-term administration of fluoxetine also affects 5-HT efflux in DPAG. As a comparison, the effect of chronic treatment with the anxiolytic 5-HT(1A) receptor agonist buspirone on DPAG 5-HT levels was assessed. We also investigated whether the inhibitory effect of chronic fluoxetine on escape behaviour in the rat elevated T-maze, considered as a panicolytic-like effect, is counteracted by intra-DPAG injection of the 5-HT(1A) receptor antagonist WAY 100635. Male Wistar rats were treated (1 or 21 d, i.p.) with fluoxetine, buspirone or vehicle, once daily. After treatment, 5-HT in DPAG was measured by in-vivo microdialysis coupled to HPLC. In another study, rats treated (21 d, i.p.) with either fluoxetine or vehicle also received intra-DPAG injection of WAY 100635 or saline 10 min before being tested in the elevated T-maze. Chronic, but not acute, administration of fluoxetine significantly raised extracellular levels of 5-HT in DPAG. Long-term treatment with buspirone was ineffective. In the elevated T-maze, intra-DPAG injection of WAY 100635 fully blocked the anti-escape effect of chronic administration of fluoxetine. Therefore, chronic fluoxetine facilitates 5-HT(1A)-mediated neurotransmission within DPAG and this effect accounts for the panicolytic-like effect of this antidepressant in the elevated T-maze.