Accountancy
Interest rate parity
THERE are many theories on what influences the forward rate (premium/discount). It is believed that the interest rates of two countries influences the forward rate and swap points. Interest rate parity illustrates why a particular currency might be at a forward discount/premium. The currency of one country with a lower interest rate should be at a forward premium in terms of the currency of a country with higher interest rates and vice versa.

Information Technology
Software package approach to information systems development
THERE IS a strong tradition of bespoke systems development in information systems delivery, where `in-house' analysts and programmers develop systems to meet the specific requirements of an application. In the formative years of computing there was littl e alternative to this approach because generalised software packages did not exist and the fragmentation of the hardware market reduced the viability of such an approach. For many years the market place was:

Management
Ordinary and special damages
HOW ARE `ordinary damages' distinguished from `special damages'? Damages implies monetary compensation for the loss suffered by an aggrieved party as a result of breach by another party. Ordinary damages, which are reasonably foreseeable consequences of breach, are estimated on the basis of circumstances prevailing at the date of breach. In the case of the sale of goods, the ordinary damages are the difference between the contracted price and the market price prevailing at the time of sale when the time is fixed. Special damages are the damages resulting from a breach of contract under special circumstances known to both the parties. These damages are not recoverable unless the possibility of special loss is contemplated by both parties at the time of the formation of the contract.

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