Healing the World Through Literature Essay

Literature has influenced our lives in many ways. One is the way we perceive the events around us. The media have always been telling and informing the public about wars. Instead of informing us about how we can heal the world, all we hear is whose fault it was as soon as a war breaks out. The question here is: How can literature help to heal the world in terms of war and peace? This is important because there are so many wars in the world and instead of fighting we can use them to help create peace and heal the world. We will then be able look back to the past and think how we can progress for the next time. It will also help us create peace by allowing everyone to understand each other. Thomas Hardy, Anthony Hecht and Muriel Rukeyser are three authors that help show how literature can heal the world. The first poem, Thomas Hardy’s â€Å"The Man He Killed† focuses on the senselessness and futility of war, where a man has killed another quite simply because they were fighting on opposing sides at war. It was written in the point of view of one of the soldiers who was enlisted in the infantry. In the opening stanza he states, â€Å"Had he and I but met by some old ancient inn, we should have sat us down to wet right many a nipperkin! † (Hardy 347) By this he means if they met outside of a pub, they would have enjoyed some drinks together, but because of the war, they are forced to shoot at one another. Then it explains how they met as soldiers in opposing sides and one had to die so they both shot each other, but the narrator shot killed the other. In the third stanza, he explains why he had to kill him. Literature could help us with war by displaying this poem. The poem shows how even when people just meet that because of a war, they are forced and required to kill another man instead of having peace. People fight in wars for all different reasons. Some people were born to join the army and be soldiers while others just join to get by in life with financial support from the army. In the lines thirteen through sixteen, towards the end of the poem the author is saying how both the men enlisted into the army because they were out of work, and they needed to sell their traps to get money, and now because of the war one of the men was killed unwontedly by another man who joined because he was out of work as well. In the second poem called â€Å"More Light! More Light! † by Anthony Hecht, it talks about two different stories in the poem. In the first story there is a man who was being charged for a crime he prays to his God he didn’t commit. He states, â€Å"I implore my God to witness that I have made no crime† (Hecht 349). He was being burned to death and one of the soldiers who was burning him because of his crime felt badly for the prisoner’s suffering. So he threw gun powder hoping it would catch fire and to end the prisoner of his misery but the gunpowder did not ignite, and the prisoner was burnt to death. â€Å"And that was but one, and by no means one of the worst; permitted at least his pitiful dignity; and such as were by made prayers in the name of Christ, that shall judge all men, for his soul’s tranquility† (Hecht 349). The second story is about three prisoners who were brought to the woods, two Jewish prisoners and one Polish prisoner. The German guards forced the Polish man to bury the Jewish men alive, but the Polish man refused to do it. So the German guards instead changed the roles, and the Polish man was shot in the stomach, buried up to his head, and was left there for three hours to bleed to death. The second story seemed to be much worse than the first because the Polish man was suffering and was only left there with his thoughts and prayers as he slowly died. â€Å"No prayers or incense rose up in those hours which grew to be years, and every day came mute ghosts from the ovens, sifting through crisp air, and settled upon his eyes in a black soot† (Hecht 350). Literature help with war and peace because this poem shows the past how the Jews and Polish men and women were tortured by the Nazis and war. And this poem can teach us how even during the darkest times of war some people like the Polish did not keep his dignity. And not be forced to kill another man because war, even if the result of not listening is your own death. In the third poem â€Å"Letter to the Front† by Muriel Rukeyser, talks about being a Jew in the twentieth century. This poem explains how Jewish people should be proud of being Jewish, and they shouldn’t hide it. The Jewish people went through a lot with World War II, with all the deaths and sufferings, but the Jewish population shouldn’t try to hide what they are. â€Å"Wishing to be invisible, you choose death of the spirit, the stone insanity† (Rukeyser 351). Hiding meant reducing God to nothing more than what you are. The author is saying that the Jews should be proud of who they are and what they believe in. To believe in God and pray for freedom to all people, and pray to live the impossible which can only happen with faith to their God. Not by hiding who they really are and their beliefs. Literature can help with War and peace by using this poem to show that belief in your God can help you get through any situation and not by hiding from your beliefs and who you truly are. Some people are already used to wars and violence that it doesn’t affect them. In order to find peace, we must first make an effort to understand all types of people. In terms of race, ethnicity, culture, values, religion, beliefs, etc. When people see life through someone else’s eyes they understand what they go through. That would be the only way to avoid violence. Literature can heal the world after devastation from war. Maybe one day we won’t have to worry about the war because there would be peace. Work Cited: Hardy, Thomas. â€Å"The Man He Killed. † Writing about the World. By Susan H. McLeod, John Jarvis, and Shelley Spear. Boston, MA: Thomson/Wadsworth, 2005. 346-48. Print. Hecht, Anthony. â€Å"More Light! More Light! † Writing about the World. By Susan H. McLeod, John Jarvis, and Shelley Spear. Boston, MA: Thomson/Wadsworth, 2005. 349-50. Print. Rukeyser, Muriel. â€Å"Letter to the Front. † Writing about the World. By Susan H. McLeod, John Jarvis, and Shelley Spear. Boston, MA: Thomson/Wadsworth, 2005. 351-52. Print.

Loyalty Program Essay

We go through 7 strategy steps to design a loyalty program for Cabo San Viejo which are as follows:   Before we suggest a customer rewards or loyalty program, it is important to understand what is the company’s long term vision, For whom this program is to be implemented i. e. who are the company’s best customers, what are their needs and expectations, the reasons for having such a program and the expected outcome. So the first question is: What is Cabo San Viejo’s long term vision? Was the company directing its activities in overall achievement of this vision? The vision of the company was to help people live healthier lives. Initially there was a gap between the operational objectives of making people lose weight by way of low calorie diet and the vision of getting people to live healthier lives by inculcating sustainable lifestyle ways. However, this gap had been bridged but the positioning gap remained. Who were Cabo San Viejo’s targeted customers? Was there any gap between targeted and actual customers? If we go by the vision statement, anybody wanting to live a better and healthier life was Cabo San Viejo’s targeted customers. These could include smokers, obese men and women, even obese children, stressed couples or singles, workaholic professionals, over worked top executives and managers etc. However, Cabo San Viejo was attracting mostly females (70%-80% of the guests) with an increasing average age over the years, the last average being 57 in the year 2004. Thus, mostly older females were visiting the resort who wanted to indulge themselves and feel better about their body and themselves. Also, their household income was high. Comparing this with the summer guests, the latter group had less income and was also comparatively younger in population. Thus, we can link the age, income level and affordability. Usually younger people are less wealthy and thus find such vacations expensive. Not only this, the perception of Cabo San Viejo first as a fat camp and then as a boot camp was discouraging people to come there. Also, 67% of guests came through word of mouth indicating that the above line marketing was performing poorly. Campaigns targeting specific groups of people showing indulgence in activities of their interest like hiking for young crowd, spa treatment for women, consultation for couples etc would be likely to bring out the varied health solutions offered by Cabo San Viejo. What were the needs of the guests at Cabo San Viejo? Was there any gap in meeting the needs or their expectations? The individual needs of the customers varied quite a lot. To understand and cater to the needs of the customers, the company had efficiently trained its reservation staff who helped customers choose the appropriate package as according to their goals and objectives. The very fact that 95% of the customers rated their experience as either very good or outstanding shows that Cabo San Viejo was operating efficiently. However, if Cabo San Viejo was to target a more demanding and younger customer base in future, it would have to exceed is current delivery promise. The needs have been met but the expectations of repeat customers have not been satisfied some of whom have expressed their resentment for not being rewarded for their continued patronization. Therefore we have recognized: Perception of Cabo San Viejo as a boot camp needed to be changed. †¢Young customers needed to be attracted. As they had higher expectations and smaller pockets, loyalty program needed to focus on value proposition by means of discounts etc. †¢Older customers were mostly wealthier and would not be looking for a value deal like the younger customers. Cabo San Viejo had around 5000 repeat customers each year which a healthy figure is making up about 60% of the total arrival figure. Around 3500 new guests arrive each year of which 32% revisited within 5-6 years and 62% of repeat visitors returned again within 5-6 years. The primary reason for not returning was the high costs. Here we reiterate that to attract more repeat customers, value must be offered. Why does Cabo San Viejo need a customer loyalty program? †¢Retention: One of the primary reasons for most loyalty programs is o retain the loyal customers by appreciating them and the business they generate for the company by making them feel special and good about their association with the company. †¢Offer enhanced value proposition: A loyalty program which offers a value deal to its customers who need it will get Cabo San Viejo more patronization. However, it is to be understood that not all customers need or expect value deals. Enhanced Satisfaction: Recognition by way of loyalty program makes a customer feel good and thus enhances satisfaction which in turn leads to more positive word of mouth. †¢Positive Word of Mouth: Around 60% of Cabo San Viejo’s customers called in for inquiry based on word of mouth. †¢Enhance image as a responsive company: Cabo San Viejo explicitly encourages customers to complain if unsatisfied. It is through such feedbacks that Cabo San Viejo has got to know that customers expect such a program implementation. Whenever a company asks for and receives complaints, it is best to respond or may lead to customer resentment. Counter Competition: If not rewarded for loyalty, customers may switch to other competitors. How much is the desired/expected impact? Having analyzed this, we now estimate the impact. The impact of a loyalty program is usually incremental and observed over a period of time. The expected increase in retention is say, 10%1 over a period of say, 5 years2. Also, people coming from reference is expected to increase over the years enabling the company to cut marketing costs elsewhere. 1The expected retention percentage is found either based on internal company data or industry expert advice.

Grace Hopper’s Biography: A Great Pioneer in Data Processing

It was 1906 in New York City when the great pioneer in data processing, Grace Murray Hopper, was born to the parents Walter Fletcher Murray and Mary Campbell Horn Murray. Even as a young child Grace loved learning about mathematics and the new technological advances that were coming out, mostly because of her surrounding environment — her mother was a mathematician. Although at the time women were not considered as important to society as men were, she would turn out to be one of the most important influences of the century. In 1924 Grace attended Vassar College, majoring in the sciences, specifically mathematics and physics. After four years of hard work she graduated with Phi Beta Kappa honors and a Vassar College Fellowship. With that she progressed to earning her MA in mathematics at Yale University in 1930, and her Ph.D. in 1934, along with two Sterling Scholarships and an election to Sigma Xi. While finishing her college education she married the New York University English teacher Vincent Hopper. Her computer technology life would soon begin following her graduation. Upon graduating, Grace was accepted to the Bureau of Ordinance at Harvard University. That is when she was introduced to and assigned to work on Mark I — the first large-scale U.S. computer and precursor of electronic computers. Her first assignment with Mark I was to â€Å"have the coefficients for the interpolation of the arc tangents completed [in about one week]†Ã¢â‚¬ ¦ not a problem for Grace. She would then be the third person ever to program the Mark I. At that same time, the Mark I was being used to calculate the angles at which naval guns were to be aimed. Shortly after that a machine called BINAC was being developed which used the C-10 language. The C-10 according to Grace, â€Å"has been the basis for most codes since. ‘A' was add, ‘M' was multiply, ‘B' was bring, ‘C' was clear; it was a beautiful code.† Grace was then forced to teach herself octal arithmetic, since that is what the code was performed in. A sort time after that, many people started to believe a user-friendlier computer was needed. Grace got to work on it. Grace was credited with the first compiler in 1952, the A-0. The compiler was â€Å"a set of instructions that translated mathematical code into machine language.† Later on she produced the A-1 and the A-2, which were basically upgrades of the previous compiler. Her 1957 FLOW-MATIC compiler (or B-0) which was used mainly for business programs, was the first to translate English into the machine language. A later program in 1959-61 (COBOL) was based on her FLOW-MATIC and was used in the UNIVAC — the first commercial electronic computer. Grace Hopper was a hard working woman who â€Å"worked to attract industry and business interests to computers and to bridge the gulf between management and programmers.† After serving in the Navy from 1943 – 1986, during which she received the rank of rear admiral, she retired to take her final job as the senior consultant with Digital Equipment Association. Grace Hopper, the great pioneer in data processing and computer technology, died in 1992 at the age of 86.

Coca-cola projact Research Paper Example | Topics and Well Written Essays - 3250 words

Coca-cola projact - Research Paper Example Frank M. Robinson a bookkeeper and the partner to Dr. Pemberton was the one behind the name â€Å"Coca-Cola† and again he designed the trademarked, distinct script, which is still used today. During the earlier periods the company sold the beverages in glasses. However, in the late 19th century, two lawyers came in to obtain permission from Chandelier to sell the drink in bottles. This was the beginning of the bottled beverage, which is currently located in every part of the globe. After the lawyers were granted the permission to sell the beverage in bottles, the company put up competition for the design of the Coca-Cola bottle. The competition ended when an Indiana Company won the tender to manufacture the bottles. The company manufactured a unique, decent looking bottle, which could be identified in the dark. The shape of the bottle is still retained by the company to date. The bottle was used as a step to distinguish the company from the other competitive companies by posting its unique attributes. Coca-Cola Company was sold to Ernest woodruff for $25 in 1919. His son Robert later on succeeded him in 1923. Robert is entrusted with the honor to introduce the company to the World Olympic Games in 1928 and expanded its distribution of the beverage to many countries around the world (Coca-Cola Company Web). Another fact that boasted the company was during the 2nd World War, Coca-Cola offered a lower rate in terms of price to the uniformed soldiers. During this time of the war many people got the opportunity to taste the drink, and after the war, Coca-Cola was in a good position in comparison to the previous period before the war (Coca-Cola Company Web). The company also ventured into the manufacture of juices. It started by buying Minute Maid juice manufacturing company. Roberto Goizueta became the chairman and CEO of the company in 1980’s (Coca-Cola Company Web). He reigned during

Macroeconomics Part 2 Essay Example | Topics and Well Written Essays - 1500 words

Macroeconomics Part 2 - Essay Example Demand pull inflation is caused by a rise in aggregate demand which means persistent rightward shifts in the aggregate demand curve. The rise in aggregate demand may occur due to rises in consumer demand, in the level of government expenditure, in investment by firm, in foreign residents demand for the country’s exports or a combination of these four (Sloman 1997). Demand pull inflation is usually linked to a booming economy. When the economy is in recession, demand pull inflation tends be low. However, when the economy is near the peak of the business cycle, demand pull inflation is likely to be high. The graph above illustrates the rise in aggregate demand by a rightward shift in the aggregate demand curve, from AD1 to AD2. Prices rise from P1 to P2 and output rises from Q1 to Q2 resulting in inflation. On the other hand is the cost push inflation where high costs force firms to increase their prices (Gillespie 2001). Aggregate supply is the total amount of goods and service s produced at a given price level in an economy. When there is a fall in the aggregate supply of goods and services caused by an increase in the cost of production, cost-push inflation occurs.  Cost-push inflation essentially means that prices have rose by an increase in the costs of any of the four factors of production that is; labor, capital, land or entrepreneurship given that firms are already managing at maximum capacity. With increased costs and maximized productivity, firms cannot sustain profit margins by producing the same quantity of goods and services. Consequently, the increased costs are borne by consumers, causing an upward shift in the general price level. The graph above shows the amount of output that can be attained at the given price level.  As production costs escalate, aggregate supply falls from AS1 to AS2 (given production is at maximum capacity), causing the prices to increase from P1 to P2 and total output to decrease from Q1 to Q2. Demand pull and cost push inflation can occur together, since price rises can be caused both by increases in aggregate demand and by independent causes pushing up costs. Similar is the case with the UK’s economy. The UK Consumer Prices Index (CPI) annual inflation rate went up to 4.5% in April, from 4% in March (BBC 2011). As always, there are elements of both types of inflation in the UK’s economy. With the ongoing recovery and a slight increase in demand, there is a small level of demand pull inflation. However, the majority of the effect is cost-push. The increase in VAT is one of the major reasons of inflation in this economy, as well as increases in non-discretionary items such as fuel, utilities, housing and food. These are all necessities whose price hikes act more like an additional tax. The figure below shows the change in the UK’s annual quarterly rate of inflation over the last 15 years. b) Keeping inflation down to a desirable moderate level is an important contributive factor to sustain economic growth. This is because it serves as an incentive for increasing output, investments and unemployment. A rapid rate of inflation disrupts regular economic life leading to a wider income gap, falling output and unemployment. However, the remedy for such inflation depends on the cause. Therefore, government must diagnose its causes before implementing policies. Government policies may pull the rate of inflation down through contractionary fiscal and monetary policies. Monetary policy covers government changes in either the supply of

Should Wells Fargo lose the latest DOJ lawsuit, Were they ethical in Research Paper

Should Wells Fargo lose the latest DOJ lawsuit, Were they ethical in there practices with the Mortgages - Research Paper Example Recently, the company has been facing a lawsuit that requires them to pay for damages, because of acting unethically toward offering substandard mortgage loans, which might have powered the financial crisis in the region (Raindi & Timiraos, 2012). This paper will examine the lawsuit, and if the company is justified in claiming they acted within their financial ethical boundaries. In October 2012, the Department of Justice was at the forefront in trying to prove that Wells Fargo & Co. acted unethically by providing shoddy mortgage deals to insurance programs in the U.S., hence; creating a loss of millions of dollars. An Act enacted in 1989 allows the government to sue any financial institution if the affected party is insured by the federal government. The Department of Housing and Urban Development in US is accusing Wells Fargo & Co. of offering shoddy loans to first-time buyers (Raindi & Timiraos, 2012). According to the Department of Housing, this was done with complete disregard a s to whether the parties being given loans had the ability to pay or not. The probability of Wells Fargo losing the lawsuit There is a likelihood that Wells Fargo & Co. might lose the lawsuit. This is because under the various laws that govern the operations and functions of financial institutions, the company may have gone against the law in their undertakings. The law of restrictions under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA), is still a factor to consider, where the company is still liable for prosecution by the state even after the period that has elapsed. The company can also be prosecuted under the federal False Claims Act. The refusal of the banking institution to report the defective loans has played a vital role in the escalation of the financial crisis (Raindi & Timiraos, 2012), which still rocks the U.S. and countless other regions to this day. The company claims that since it was the only institution affected by its actions, there is n o possible reason why it should be prosecuted for unethical practices within the organization. This claim was thrown out of court as the judge presiding over the case indicated that even if the only party affected by such actions was the one under prosecution, it still had to face the charges leveled against it. It is the belief of countless individuals that the simple act of choosing not to report these defective loans meant that the company knew about the issues they faced, but did not bring them to the HUD’s attention. This is tantamount to fraud, according to the court, and that is probably why the company may lose the suit by the U.S. Department of Justice. It is unethical for any financial institution to hold out on information (Jennings, 2011), which may be done to save money and disregard the integrity of the organization they serve. The ethical nature of the company’s lending practices There were some unethical undertakings by the company during the lending of loans to people. It is the task and duty of a financial institution to properly vet the people it is meant to serve, especially when dealing with loans. This is so as to see the chances of the loans being paid by the parties offered loans. In the company’s case, they were sure that any failure by the parties to pay would be bailed out by the Federal Housing Administration, which often bailed out first time buyers (Raindi & Timira

Judaism Essay Example | Topics and Well Written Essays - 1500 words

Judaism - Essay Example This paper will examine Judaism and argue that it may be largely defined as a communal behaviour that is rooted in knowledge of the reality. To begin with, one should note that just like Islam Judaism also has a legal dimension to it. In other worlds, there is a legal system that is based on the sacred text of Judaism, namely Torah (Solomon 1996, 56). Indeed, this means that the latter should not be considered to be merely a spiritual text, but a set of rules and regulations that might be used to resolve different issues. What is more important is that the very name might be interpreted as teaching which implies the practical application of knowledge that is stored in it. That is why it is not surprising that the Jews also applied the text that contained the religious dogma to daily affairs. One should also note that this application is recognized on the state level. For example, according to the tradition of Judaism, on the seventh day of the week, which is Saturday, the Jews should not do any work, but only rest. While this might seem as a peculiar religious tradition; nevertheless, on every Saturday trains do not run in Israel, planes do not fly and the majority of the stores are closed. All this shows how religious principles are able to modify communal behaviour. Moreover, while some rules might have some theological support, they still impose severe restriction that other people, regardless of their involvement into the spiritual practice have to face. The next point that should be noted while considering the nature of Judaism and its communal dimension is the way the above mentioned sacred text is regarded. Thus, there is no doubt in the fact that Torah is the corner stone of this religious tradition (Harvey 2005, p. 74). However, it must be noted that Judaism recognizes two kinds of Torah – Written one and Oral one. As a result, what people tend to mostly

International Management Ethics and Values Case Study

International Management Ethics and Values - Case Study Example Thus, it will allow the revealing of the variations or mutations that would lead to genetic disorders. This ethical theory will help in guiding the employees to take the test ethically and then help in delegating the task accordingly. (b) From the above statement the author of the study is trying to make a statement that people suffering from generic disorders cannot change their jobs or the employer cannot change the business environment. The changing of business environment because of certain employees who are more susceptible to the disease would be irrational because it would require the changing of entire business procedure. The above statement resembles the Descriptive theory which emphasize on the â€Å"What If† behaviour of the company and an individual (Dimitriou et. al., 2011). (c) The passing of several legislature laws to curb down the effects of the generic testing has been effective to a certain extent only. The generic testing itself is an intrusive behaviour an d the legal law imposes certain restrictions on it for the welfare of the common people. Thus, it can be observed that the entire process resemble the Normative ethical principles. It is a systematic process to justify the morality of the society. Answer 2 (a) Moral and Ethics are used interchangeably and is useful to make certain distinctions like morality would be used to distinguish between right and wrong. It would be served as a guide to make right decisions though moral conduct. Ethical values are nothing but the subject of the morality. The moral theories of right are basically structured set of statements which lays emphasis on how individuals conduct actions and then determine the right and wrong between them. The morality of an action is determined and there is a sharp divide between the applied ethics and moral theories. The morality of the decision will be evaluated and the correct decision will be taken only after evaluation of various alternative actions. In this case it is observed that Genetic testing would involve the testing of gene mutation of the individuals and it is a systematic procedure which involves the assistance from the employers (Pollock, 2011). (b) Utilitarianism is a concept which has been derived from the Normative Ethics and helps in the maximization of the utility process which helps in reducing suffering and increasing welfare of the people. It can be regarded as a reduction approach which works for the welfare of the people. However, it can be regarded as a technique which that determines the moral value of action. It helps us in understanding whether our actions conducted in the past are having an effect in the present or not. The theory would be only utilitarianism if it can helps in distinguishing between right and wrong and provide provides goodness to a majority of the people. The generic screening test provided by the employers of an organization would not only help them in selecting candidates who are less susceptibl e to the disease. The screening test would not only be helpful in selecting the most appropriate candidate but would also enable the candidate to come in terms with their reality. The screening test would be done keeping in mind the benefits of an entire mass (George, 2011). (c) The justice of fairness developed by John Rawls is regarded as one of the classical ethical theories which help in evaluation of moral and ethical values (Wofford College, 2000). As per this theory each individual

Research Article Critique for Lesson 5 ME Essay

Research Article Critique for Lesson 5 ME - Essay Example A personal research review model (Appendix A: rubric) was created to provide a linear process discussion of the relevant questions. The burning PICOT question for this paper and subsequent research is: â€Å"In elderly people (P=70+), how are cognitive skills measured in dementia and potential Alzheimer’s disease (I=Issue), as compared to younger adults (C), affect the lifestyle of those diagnosed (O), and how long before a diagnosed patient is no longer legally or medically functional (T)?† (Melnyk & Fineout-Overholt 2011). Funding for this research was provided by Neurosciences Victoria, Austin Hospital Medical Research Foundation, and the Commonwealth Government of Australia Department of Health and Ageing, with unrestricted educational research grants. Funding was also provided by the Commonwealth Government of Australia to publish under Open Access (Pike et al., 2007). The main reason for conducting this research study (Pike et al., 2007) was to find common bio-indicators in a currently healthy aging senior which provides a predication for eventually moving into dementia and/or Alzheimer’s disease (AD). The ÃŽ ²-amyloid (AÃŽ ²) presentation is commonly found in those diagnosed with AD, yet it can also occur in normal healthy aging adults as well without affecting the person in any manner. The 11C-PIB-PET brain scan was used in the study to provide a qualitative marking process with three groups: the healthy ageing (HA) adults, the mild cognitive impaired (MCI) adults, and those diagnosed with AD (Pike et al., 2007). Many of the previous research studies have only used formally diagnosed patients with dementia or AD. PIB stands for Pittsburgh Compound B, which is a benzothiazole derivative that will bind to AÃŽ ² and is seen during the positron emission tomography (PET) imaging process, also known as the 11C-PIB-PET brain scan (Pike et al., 2007; Kadir et al., 2011). While ageing

Pre-Research ( Alhilal Saudi Football club ) Essay

Pre-Research ( Alhilal Saudi Football club ) - Essay Example Ever since its launch fifty-seven years ago, the club has excelled in Saudi Arabia and Asia to win fifty-five official championships. These include seven Arabian Gulf Championships, six Asian championships and forty national championships. As mentioned earlier, Al-Hilal has been very successful in Saudi Arabia and the Asian continent, therefore, earning the nickname Al-Zaeem, meaning ‘The Boss’ (FIFA, 2014). In recent years, its dominance in the Asian continent has dwindled down Al-Hilal club but it remains one of the most successful football club in the continent. The International Federation of Football History and Statistics named Al-Hilal FC as the Asian Football Club of the past century (Wikipedia, 2014). Al Hilal FC’s home games are played at the King Fahd International Stadium, which was built in 1987 and has a capacity of sixty seven thousand fans. Some of the key people in the management and coaching include Abdulrahman bin Musaad who is the chairperson, Sami Al-Jaber as the manager and Cosmin Olaroiu as the team coach (Al Hilal Saudi Club, 2014). The club has signed some of the best football players like Thiago Neves, Christian Wilhelmsson, and Osama Hawsawi among others. In the past, the club had signed some football legends such as Roberto Rivelino, Mohamed Al-Deayea, and Yousuf Al-Thunayan among others (Wikipedia, 2014). Throughout the years, the club has displayed great football and teamwork; therefore, receiving recognition through the numerous tournaments that it has won. Al-Hilal FC lifted its first trophy in in 1961 when it won the King’s Cup tournament. In 1964, the team was able to overpower its main rivals, Al-Ittihad through penalties to recapture the King’s cup. Many people had started to see the great potential in the team and this attracted a huge following. The club did not disappoint when the Saudi Premier League was started in 1976, as it emerged the first winners (FIFA, 2014). Up to

Out sourcing man power strategy Research Paper Example | Topics and Well Written Essays - 3500 words

Out sourcing man power strategy - Research Paper Example Finally, I give high regards to my parents who assisted me financially and in advisory terms. This inquiry is directed at analyzing the current state of the HR outsourcing market in Borouge and the trends that are dominant in the same. Today, in this epoch of globalization, there is a high level of competition in all arenas (Anikin & IL, 2009). One really significant trend in the recent times has been the maturation of human resource outsourcing. The dynamic nature of the market and global competitive pressures in the organizations are inducing the organizations to concentrate on their burden clientele (Baca, 2009). Many organizations are rapidly identifying that they cannot provide everything to all consumers. For that reason, many companies are opting to outsource some of their HR for specific purposes in the organization (Coase, 2005, pp. 2-3). Where they let somebody else manage the rest in a more effective and cost-effective fashion. As a consequence, human resources outsourcing is becoming more and more dominant. The number of organizations outsourcing HR roles are con tinuously growing, and the scope of outsourced HR activities continues to inflate (Allen, et al., 2003, pp. 1-2). Outsourcing has become a normal response in the management and technology resources that encourages strategic measure in enhancing quality services and reduction of cost of running businesses effectively (Baca, 2009). Companies where organizations outsource their HR function hires professionals who have the knowledge and resources expected for the specifically fulfil the client’s needs partially or wholly of a clients’ human resources role, leaving the customer to streamline their internal operations and focus on getting profit in their burden clientele (Coase, 2005). With the increased globalization, outsourcing has become a crucial aspect in efficient administration of a business.

The Allied Occupation of Japan Essay Example for Free

The Allied Occupation of Japan Essay In 1945, to end the Pacific war, Operations Olympic and Coronet, America’s proposed landings on Kyushu and the Tokyo Plain were the largest amphibious invasions ever planned. Thomas M. Huber: Pastel: Deception in the Invasion of Japan Command and General staff college, 1988 {www-cgsc. army. mil/carl/resources/csi/huber2/huber2. asp} The allied forces successfully invaded Japan and imparted values and ethics of democracy in Asia. The success measure is evident, exemplified and argued through various contexts. One it stopped the creation of a Draconian empire in Asia whose onset was the 1937 invasion of China. Shillony 1981: p 87. Brute force and escalation due to self atonement and belief that supremacy through war is power doomed the Japanese and was what the allied forces sought to destroy. Japan was defeated militarily. There deaths of over one and half million soldiers and hundreds of thousands of civilians were a blow to the empires magnum strength in Asia. Bailey, Paul J. 1996 Post War Japan: 1945 to present: The American interregnum p 22 . Though an atrocity to human life, militarily and as per the objectives of the allied invasion, this was a successful war. They won it and Japan when it withered to the onslaught conceded defeat and called on to the forces for a truce. ‘Japan was the only major nation in the world which had never been invaded’ Russell Brines: Macarthur’s Japan, 1948. p 13 It is within this context refutation of the win is made subjective. Within the Japanese empire, there was collective rebellion and repulse to accept defeat due to the implications. A split is seen to have emerged and a struggle to stop the emperor speech by some of the generals is indicative of the remaining strength of the Japanese army. By the end of 1941 Japan had completed a decade of planned industrial expansion and could look back upon a period of considerable achievement. Industrial output had risen from six billion yen in 1930 to thirty billion in 1941. To destroy this and that, was heavily demoralizing and they were defeated not due to the military power but the loss of kin and gains they had made. Jerome B Cohen: Japans Economy in War and Reconstruction. 1995 {pg1} it is arguably correct, that the success was only based on the physiological within the leadership structure of the empire. ‘The army insisted on the continuation of the war while prime minister Suzuki advised acceptance of the surrender terms†¦. Despite a desperate attempt by a few middle ranking officers from the imperial guards division in Tokyo on the night of 14the august to destroy the recordings of the emperors surrender speech, the broadcast went ahead. Bailey, Paul J. 1996 Post War Japan: 1945 to present: The American interregnum {pg 25} This proves, there was still military might in Japan and they would have escalated but a demoralised leader and generals due to the human suffering and loss of lives by innocent humans caved in to the terms of the surrender. However, this cannot be vilified since, it seen from the assertions and collective analysis by the context of Nakamura, Takafusa. 1990. The Post-war Japanese Economy: Its Development and Structure, the Americans, a key player in the allied forces, made the breaking up Japanese economic structures through the principals of Zaibastu dissolution. ‘The purpose of the Zaibastu resolution†¦. Is to destroy Japans military power both physiologically and institutionally’ this dimensional perspective is proving of political weakening and infiltration of Japans key and integral structures. It is indicative of a successful defeat. Nakamura, Takafusa. The Post-war Japanese Economy: Its Development and Structure: Economic democratization 1990 p 25 The principal objective of the Allied forces was to stop and reform the Japanese escalation. They made it possible and due to diversified interest, the objectives of the allied forces shifted based on each country’s policy on the war and Asia. It within this context the split of economic policies between the Union Soviet Socialist Republic and the United States is offset. USSR was instrumental in creating a Korea issue as its interest while from the spoils of Japan, the Americans made economic and military positions in Asia. Japans recipient nature after the war is indicative of its dissolved might and its pro United States policies. The recipient nature developed from the brute force of the American forces in the war and the final blow that was the atomic bomb that led to deaths of thousands of innocent civilians. This also signifies that, the Japanese had gone further in the war to form a formidable force whose strength could not be eased and only a political demoralization strategy within military options would create that opportunity, hence the brute action by the United States. Subsequently, the post-war Japan policies and principals all correlate with assertions which deem the allied forces won the war ‘the externally imposed occupation reforms greatly changed the fixed system of the pre-war Japanese economy and ended by preparing a rich soil not only for democratization but also for economic growth’ Nakamura, Takafusa. The Post-war Japanese Economy: Its Development and Structure: The post war Japanese economy1990. p 48 . Based on this fact, the essence of the invasion and its effectiveness in imparting or rather inducing policies and structures of the allied forces political and economic systems is within this context then. Beyond reasonable doubt, this was a complete and successful invasion. Factual evidence of the invasion and its extremes of success are seen in the Japanese leaders acceding to American war demands and surrender instructions. Based on the President Truman and the great general, in the Asian conflict General McArthur, principles on the Japanese escalation, prowess and economic structures, the Japanese had to go into the sea, board the US naval ship USS Missouri and sign the peace accord that made them safe than sorry in the naval ship. H. Passin, The Occupational: Some reflections, in C Gluck and S Graudbard, Showa: the Japan of Hirohito, 1992 p 108 In his explication of these events Passin is emphatic about the brute of the Americans. They assume the polity of the Japanese who had imbued themselves with extreme gusto, gist and were drunk with power. According to Passin the Americans showed off during the signing of the treaty. The subsequent course of events led to demilitarization of Japan, an ethic fact that shows Japan had been incapacitated and completely taken over. Further economic restructuring using America policies and reforming the country political and judicial system is indicative of the vast influence and filtration of the Japanese by the Americans deep in to their social economics, tradition and religious structures. The question of how long the American occupation and restructuring of the Japanese socio-political- economic structures would last was ambiguous then as Passin implies. It is long term and this often spells the question of whether these American policies are a continuation of the occupation. Seen from his virtues, Passin seems to admit hypothetically that the occupation was a long-term one and that the effects and the continuity was not parametrical hence no projections would ratify nor assume the end of the era. ‘Will the reforms last or will they disappear as soon as we leave? ’ this is and was then a fair question, but is it answerable? Despite all the fanfare and futurology we cannot really predict the future in any degree of complexity. H. Passin, The Occupational: Some reflections, in C Gluck and S Graudbard, Showa: the Japan of Hirohito, New York: Norton 1992 pg 125 . Another agreement with the purge is seen within the Robert Wolfe context. ‘In the interim, the basic policies regarding the removal of Japans wartime leadership had been translated into a far-reaching directive to the Japanese Government entitled Removal and Exclusion of Undesirable Personnel from Public Office’ Robert Wolfe, Americans as Proconsuls: United States Government in Germany and Japan, 1944-1952 p 188 Passin revisits the Zaibastu issue sceptically and quite emphatically. The Zaibastu principle is a proliferation like principle. All the structures of the economy and the legislative structures are brought to their knees through disintegrating them and making military and economic stability not to withstand any slight implication. According to Passin, the dissolution was controversial. ‘The dissolution of the Zaibastu remains the most controversial of the occupational measures with respect to its desirability and its effectiveness’ H. Passin, The Occupational: Some reflections, in C Gluck and S Graudbard, Showa: the Japan of Hirohito, New York: Norton 1992 pg 117 He is empathic in context. He is seeking to moralize the Zaibastu as a structure which was not only an integral Japanese economic and social stability pillar but also the basis of both. Evident is the aspect of powerlessness of the Japanese in this comment. It is practically impossible to bring about Japan based policy within this conflict period and the Americans and their allies are not only prejudiced against the structures that supported the brute Japan but also ready to destroy them. Japan within this context is displayed as a nabbed culprit who has no choice but to tow the line to get any reprieve or empathy but first has to undergo phases of self realism and reconstruction of moral authority over his self. The profoundness of the wining and the success is measurable within this perspective. What Passin implies is that Japan was now a pawn, a completely incapacitated nation. ‘The occupation penetration into even the most intimate of Japanese institutions, the family, parental authority†¦. was no mere exercise of missionary impulse’ H. Passin, The Occupational: Some reflections, in C Gluck and S Graudbard, Showa: the Japan of Hirohito, New York: Norton 1992 pg 117 What would further clarify the porous-ness of the Japanese nation under the American and allied forces? Within this ethical projection of the penetration, Japan is merely under the forces, rule and legislation of the occupier. It is not refutable, it is factual, the truth. Japan was conquered and it surrendered and it then caved in. Its structures were destroyed and the occupier built his within and made them the Japanese institutions which had and still use the same values and ethics to run. Without making the war the basis of success, it’s the objectives of the war that vilify the win. The draconian Japan was contained. The allied forces stopped the emergence of an Asian kingdom led by the Japanese and their ruthlessness. A regional conflict then was ensuing and the Japanese were instrumental in stifling and frustrating efforts of all well wishers. Containing Japan was moral and loosing the war would have led to regional imbalance. The discourse is contextual and this is seen through Robert E Edward variable assertions about American policies or post war Japan and the quite intricate policy administrations to avert shift of Japanese community trust on the new structures of peace, democracy and political inclination and stop possible uprising to oppose these new structures. To justify and prove that the allied forces won the war, Edwards says ‘American victory was a vindication of their own political institutions and ideals’ Ward, Robert E. 1987. Conclusion, in R. E. Ward and Y. Sakamoto (eds), Democratising Japan: the Allied Occupation {pg 397} , it is a case of proving the war was won and that there was escalation in the win and this was incorporation of the American policies into the Japanese system. The perspectives of the Japanese were and have been an Asian economic progress. As seen in the context of, Morris-Suzuki, Tessa. Invisible countries: Japan and the Asian dream {online} Japan sought to have an empire that would make it to the realm of military and economic strength and prowess. However it was the principles and modus that contradicted and dissented with the international community then hence the successful invasion of Japan by the allied forces to stop its escalation in principal. Sources Thomas M. Huber: Pastel: Deception in the Invasion of Japan Command and General staff college, 1988 {www-cgsc. army. mil/carl/resources/csi/huber2/huber2. asp} -Shillony 1981:87

Safeguarding the Welfare of Children

Safeguarding the Welfare of Children A protection and safeguarding the welfare of children is defined as protection against bad behaviour, ensuring that would not affect the childs health or development, and also ensuring that children grow up in a safe environment and effective care. Child protection is to ensure and promote the welfare. It is also an alert mechanism for child neglect and abuse. Legislative framework is there to protect children. There are a lot of laws, guidelines, policies and procedures. All this is designed to ensure the childs welfare. So, let`s discuss the Basic Law. But first you need to know that the legislative framework has three sections. The first is a learning and development requirements. The second is an assessment. The third section is the safeguarding and welfare requirements. Here is a brief overview of framework. One of them is the Children Act 1989. This law was introduced to attempt to streamline the laws affecting children. They emphasized the priority importance of the principle. This means that the childs welfare is paramount when decisions made for his/her education. We are working to safeguard children in 2006 to confirm the exact commit the Agency and service work together in order to reduce the risk to threaten the well-being of the child. The Safeguarding Vulnerable Groups Act 2006 is designed to work with vulnerable groups and in particular at what has been done. Statutory guidance documents are produced by each relevant government departments in order to explain the responsibilities that are different for illegal language. They serve to explain to anyone who works with children and to more accurately indicate their responsibility to protect children from abuse. Policies and procedures give annual review setting out the duties of an employee on child protection. It also provides training for everybody at work who relates to the setting. The obligation is to inform the Independent Safeguarding Authority about any human concerns with the settings and t hreatening for children. They give the order to work with the Local Safeguarding Board. It also provides a procedure including the assessment of the risks by ensuring that the policy is working in practice. The Criminal Records Bureau check all adults who have uncontrolled access to children under 18 years of age. This system checks all who want to work with children or an old people or persons who are otherwise classified as vulnerable. They can provide information about a person with a criminal history or who had to pay for a criminal conviction is ended. This information is gathered from several sources and compared CRP which has granted the applicant to disclose knowledge or information. The Independent Safeguard Authority presents contradictory vetting and barring scheme which requires anyone who works or volunteer with children and vulnerable adults to register with the ISA. The child exploitation and online protection centre is focused on combating the sexual exploitation of children and runs think u know internet security scheme. The NSPCC helps defeat of cruelty to children in different ways. They provide such assistance to children as child line services to families and children, tips for adults and professionals, carry out research and consultation services. So there are a lot of laws, guidelines, procedures and policies ensuring the welfare of a child. This is the Health and Safety at Work Act 1974 and the Management of Health and Safety regulations in 1999 which includes first aid, emergency procedure, injuries, accidents and illness and Control of Hazardous Substances. As well as data protection act 1998, disability discrimination ANCT disability in 1995 and 200 in 2004, raced Relations Amendment Act 2000, the Children Act 2004, working together to safeguard children. As you can see it is include all legislative frameworks and cooperate with the best welfare and protection of children. All settings must realize Early Years legislative framework f or child welfare, safety, and security and road Obstruction ensuring even not happened events that they are not going to happen. Child protection is more important. It ensures the safety of children, learning and development. However, our problems exist. There are four different forms of abuse. They are physical abuse, emotional abuse, sexual abuse and neglect. Physical abuse or injury is to engage the coincidence someone deliberately endangering the child. This can take different forms of injuries. Bruising occurs from being slapped, punched, shaken or squeezed. Cuts may occur from scratches, bite marks, a torn frenulum. Fractures such as skull and limb fractures can be a result from being thrown against hard objects. Burns or scalds range from cigarettes, irons, bath or kettle. Often a particular injury can be readily explained, but we have to disclose that if a child has bruises that show some pattern of an object such as dental records or iron stamp. Also look out for behavioural disturbances such as aggression. Another form of abuse is emotional abuse. This happens when a child consistently faces threaten ing ill-treatment from an adult. It can be verbal, mocking, ridiculing and insulting abuse of a child. It is difficult to establish common forms of abuse, but signs of emotional abuse include withdrawn behaviour, attention seeking, low self-esteem, stammering and stuttering, telling lies, tearfulness. Emotional neglect means that the children do not receive love and affection from adults. They are often left alone. Neglect occurs when an adult cannot give a child what he needs to develop physically. Often adults are leaving children unattended. Physical neglect signs are being underweight, unwashed clothes, poor skin tone, matted hair, being constantly tired, hungry and listless or lack of energy. Also often you can see the signs such as health problems and low self-esteem. Sexual abuse is when the adult uses children for sexual purposes. This can be anal intercourse or inclusion of watching pornography. This means that the child is encouraged to sexually intimate behaviour or oral sex, masturbation or the fondling of sexual parts. Sexual abuse may include signs such as bruises or scratches as non-accidental injury or physical injury, itching or pain in the genital area, wetting or get soiling themselves, low self-esteem and lack of confidence. There may also want to be treated like a baby or have poor sleep or eating patterns. A bullying usually includes deliberate hostility and aggression, a victim who is less powerfull than bully, an outcome which is always painful and distressing. Bullying can be physical, such as pushing, kicking, hitting, pinching or any other forms of violence. Verbal bullying can be such as name-calling, sarcasm, spreading rumours, threats. Emotional: excluding, tormenting, ridicule, humiliation. Racist: racial taunts, graffiti, gestures. Sexual preference: unwanted physical contact, abusive comments, homophobic abuse. Cyber: sending up messages, emails and cell phone messages. There is a case when children need urgent medical assistan ce. It includes bouts, scalding, burns, electric voltage, poisoning, fainting, concussion, bouts of bleeding, fractures, bouts of asthma, respiratory, diabetes. They should go to the doctor if the children have a high temperature more than 24 hours, a persistent cough, pain above the eyes, sore throat or ear pain. Joint disease signs and symptoms include facial colour change, temperature change, behavioural changes- calm, upset, complains about pain, coughing and sneezing, rash, lethargy, diarrhoea or nausea. Statutory requirements are to encourage the protection and welfare of all children. For this everybody are working with a lot of authority in order to achieve the best results for child welfare. Evaluate the safety of children in Early Years settings. So as I said there are many structures, which are doing its best for the childs welfare and security. It is important to share information with the right people. RIDDOR is reporting injuries, diseases and dangerous occurrences regulations 1995. If an incident occurs at work that is serious enough to keep an employee off work for three or more days, employers will need to fill in the relevant paperwork and send the report to the health and safety executive. They may investigate serious incidents and give advice on how to improve practice if needed. Health and Safety at Work Act 1974 and the Management of Health and Safety at Work regulations 1999 provides instructions on how to use the equipment and identifies a function. They ensure that throughout the employee environment is safe and does not contain a risk to health or well-being of the staff and users. Data Protection Act 1998 implementation of an appropriate system for coll ection, storage and access to essential information about children and families when required by regulations. Protection of Children Act 1999 regulates who can work with children and under what conditions. All employees who have direct contact with children must have a Criminal Records Bureau disclosure enhances. The Human Rights Act 1998 includes illegal lever public powers violate the human rights covenants. The main line is equality for policies and practices. Disability Discrimination Act 1995 and 200 in 2004 disability Key Impact Is that all training opportunities are flexible and available with respect to each childs individual needs. Race Relations Amendment Act 2000 requirement is to monitor and record all racist incidents. The Children Act 1989 includes requirements for premises, quality of care and staff. This gives the individual child welfare. Communicate to the Children Act 2004 is to ensure the childs best Interests. RIDDOR is an institution. The authority concerned sh ould be notified of such cases as death, Major Injuries, Top Seven days Injuries, Dangerous Occurrences and occupation illnesses. Lets talk about a healthy balanced diet. In England the school trust fund has been formed to ensure schools adopt the 14 nutrition based standards and five food groups. The Eat well plate is prepared in accordance with government guidelines for healthy nutrition. It is based in five groups. This is the bread, rice, pasta and other starch foods. The second group include fruit and vegetables. The third group is milk and dairy products. The fourth group is meat, fish, eggs, beans and other non-dairy sources of protein. And the fifth group consists of food and drinks high in fats or sugar. Seven Nutrients are protein, which grows body and is good for the brain, skin and blood. Another is the carbohydrates that provide energy. Fat provides energy and will store a body if eaten too much. Minerals build the bones and teeth, including calcium, iron and fluoride w hich are found in a large food. Next is water and it makes up two thirds of the body`s weight essential for children to drink. And last are vitamins. They help to maintain a healthy body. It is advisable to use the less sugar and salt and food additives in food as well as snacks. Nutrition is important in order to grow because we should get energy and heat the battle against infections, heal the body, make healthy function of brain, good assurance body functions and develop good eating manners to prevent bad digestion, concentration and alertness. There are religious or cultural beliefs that cannot eat certain foods. The Hindu group do not eat beef, and may be vegetarians. Muslims do not eat beef or pork products or seafood. Meat is being prepared by halal method. Christians may eat fish on Fridays. Jews may not eat pork or shell fish. Food is produced by the method of Kosher. There are also health needs that may affect how the products are prepared or which products can be eaten. V egetarians do not eat meat or meat products. Vegans do not eat animal products. Restrict celiac gluten is found in wheat barley, rye. Sensitive to allergies often cannot eat nuts and milk. Reactions to allergies can be such as vomiting, difficulty in breathing, swelling of lips and tongue, rash usually found on the chest back limbs, tightness in the throat or Itching, diarrhoea, wheezing, anaphylactic shock. Unhealthy diet threatens child obesity, failure to thrive, poor immune system, recurrent infections, nutritional anaemia, underfeeding. A higher risk of developing diabetes heart attacks, dental decay and osteoporosis. And unfortunately but common eating disorders found in children and young people. This is anorexia and bulimia nervosa. They have profound implications on the development of the child self-concept and self-esteem. There are requirements that should be followed in the environment to ensure the safeguarding and welfare of children. There are many physical conditions that are hazards to the health, safety and security. It includes lighting, temperature, rest facilities, ventilation, toilet facilities, etc. So practitioner has to make sure that he or she is aware of settings, health and safety and security procedures before starts work. Take account of individuals` needs, wishes, preferences, and choices, while ensuring your own roles and responsibilities in relation to health and safety. Seek additional support to resolve health and safety problems where necessary. Report issues to the appropriate people and minimise risk. Safeguarding agencies help is many different ways. There are lots of help for children and us. Safeguarding and promoting the welfare of children is the responsibility of the local authority, working in partnership with other public organisations, the voluntary sector, children and young people, parents and carers, and the wider community. A key objective for local authorities is to ensure that children are protected from harm. Other functions are housing, sport, culture and leisure services, and youth services. Health professionals and organisations have a role to play in safeguarding and promoting the welfare of children. The general principles are to aim to ensure that all affected children receive appropriate and timely preventative and therapeutic interventions, ensuring that all health professionals can recognise risk factors and contribute to reviews, enquiries and child protection plans, as well as planning support for children and providing on-going promotional and preventative support through proactive work. Professionals who work directly with children should ensure that safeguarding and promoting their welfare forms an integral part of all stages of the care they offer. The police recognise the fundamental importance of inter – agency w orking in combating child abuse. They involve social work colleagues. The police are committed to sharing information and intelligence with other organisations and should be notified as soon as possible where criminal offence has been or is suspected of being committed. Probation services supervise offenders with aim of reducing re – offending and protecting the public. Early years services such as children ` s centres, nurseries, child minders, pre-schools, playgroups and holiday and out- of- school schemes – all play an important part in the lives of large numbers of children. Everyone working in early year`s services should know how to recognise and respond to the possible abuse and neglect of a child. Let`s talk about the importance of personal hygiene. Children should be encouraged to wash their hands before meals and snack time. Children should be discouraged from eating off the floor. Using cutlery allows the child to learn table manners and will lessen the chan ce of the transfer of germs from the hands to the mouth. Teaching the correct principles of hygiene should begin at as early age as possible. It will help to prevent the spread of infections and diseases that can damage the digestive tract, respiratory tract and the external features of the body. Children will follow the example from the adults so they should lead by example. Maintaining correct hygiene will allow the child to be independent and will lessen the likelihood of bullying if they are kept clean and tidy and do not suffer from associated complaints. There are some good methods to reward positive behaviour such as providing reward charts or stickers, giving the child extra responsibility, acknowledging the repeat behaviour, praising the behaviour and providing undivided attention to the child.

The Changing Role Of Women

The Changing Role Of Women Gender inequality is one of the enormous puzzles of contemporary society. In last several decades, a significant alteration has happened in higher education throughout much of the industrialized world. For the first time in history, females are completing their educational studies more than males are. However, the university majors are still highly gender separated. Nonetheless, the creation of womens studies programs at university level helps women to reach the gender equality. Also women have to overcome many restrictions connected with the business issues. Despite the fact, that in general, women participation in the Fortune 500 board seats has grown, on the average, the rate of increase is quite slow. Moreover the wage gap and the glass ceiling issues are still exist. Furthermore gender disparity in family remains an issue, despite the fact that the inequality has shifted and became less pronounced in the family life. Keywords: gender inequality in education, college majors, womens studies, sex disparity in business, Fortune 500, wage gap, glass ceiling, gender inequality in family, households, childrens gender, child custody. Gender Inequality: The Changing Role of Women throughout the Last 30 Years in U.S. Gender inequality is one of the enormous puzzles of contemporary society. Gender inequality refers to the unequal perceptions of individuals according to their gender. Males and females are unequal in every possible way in infinite circs, both immediate and enduring, by both objective aspect and subjective practice. Thus, what we can count as gender inequality? Can we describe it in methods that let us surely and fairly assess when there is more or less of it? Gender disparity occurs in the all areas of modern world. Education, business and family evoke the enormous amount of controversy in terms of gender disparity. Gender inequality in education has received significant consideration during recent years from researchers and educators. There are three main points that describe the gender inequality in education: preponderance of women who graduate from university compared to number of men, gender gap in terms of college majors and creation of womens studies. Although women overcame many restrictions connected with the business issues, however the gender gap in the managing positions, wage gap and glass ceiling are still exist. Moreover, gender disparity within the family remains an issue. Despite the fact, that women and men try to share all households, eventually females still doing more than males. Also the sex disparity appears in the perception of childs gender. In addition, the decision-making that refers to childrens custody after d ivorce shows the changing tendency that connected with gender inequality. Gender roles: are they really changing? Gender inequality in education In last several decades, a significant alteration has happened in higher education throughout much of the industrialized world. For the first time in history, females are completing their educational studies more than males are. Up until the 1990s, men have surpassed women in the number of undergraduate and graduate degrees that were completed in US. Since the 1990s, women have begun to attain greater equality with men and, in many cases, have exceeded men in regards to their educational achievement. According to a recent study by the U.S. Congress, females are now prospering as well as, or better than, males on many of the indicators of educational achievement. Interestingly, the huge gaps in educational achievement between males and females that once prevailed have been generally eradicated. In the United States, women currently earn 67 percent of all bachelors degrees. In a recent study McDaniel(2010) found that the demographics were that 61 percent Hispanics, 61 percent Native Am ericans, 54 percent Asians, and 57 percent White females attained college. Changing educational achievement rates for men and women could reinforce gender gaps in salary, the involvement of women in the labor force, and a huge variety of other labor market issues. The increasing ratio of college-educated women compared to men could change social tendencies in marriage: more women delay marriage, divorce or completely deny marriage. As we can see now, the traditional roles of woman are being altered because of the impact of educational access for women. The tendency for increasing numbers of women in higher education should explain not only how females have caught up to males in graduating from college, but also why the female percentage of the population surpassed and continues to increase as compared to the male rate for college graduation. Researchers have looked at sociological and economic ways that the study of educational achievement has evolved. The significance of women increasing their educational opportunities shows in changes in the labor market, where women need to have a higher degree than men to have an equal wage, or the goal to develop their special skills and talents. The second determinant of educational achievement is access to resources. The numerous studies confirmed that family-based financial, social, and cultural resources all play an important role in educational attainment (McDaniel, 2010). Research has begun to concentrate on a females advantage in education in the United States, but it is necessary to emphasize that womens rising tendency of graduation does not mean that the parity in the area of education has finally been reached. University majors are still highly gender separated. In most cases, women choose fields of study which usually bring in less money. The fields that are predominated by men are engineering, law, medicine, natural science and mathematics. The majors that are predominated by women are nursing, social science, teaching, and the humanities. The variety in choices of university majors between males and females is highly striking. In 2007-2009, among recipients of bachelors degrees in the United States, 13% of women majored in education compared to 4% of men, and only 4% of women majored in engineering compared to 14% of men (Evertsson et al., 2009). Unfortunately, in different mens majors women face the problem of gender inequality that connected with the gender perception. The sex differences in choice of major have recently been at the top of disputes on the reasons behind womens under-representation in science and engineering (Evertsson et al., 2009). Females are still considered as being less capable in succeeding in mathematics and natural sciences than males. However, the gender gap in math and science achievement tests is quite insignificant. It is also known that the gender gap has been declining over the past 20 years. One more important change that is connected to gender inequality in education is the creation of womens studies programs at university level. Since the first womens studies program was founded in the 1969-1970 academic year, over 600 schools have established programs (Carell, Page, West, 2010). Undoubtedly, the number of womens studies courses has continued to increase, from 449 in 1984, to 626 in 1994. Colleges and universities now offer about 2,000 womens studies programs (Carell et al., 2010). Today, womens studies are offered in many countries, though the extension of its institutionalization varies widely. The researchers state that the rise in high rate of womens studies has occurred due to the fact that women were always treated as a minority in the society, whose rights have been violated. So now it is considered as a great opportunity to learn about women. An appraisal of the disciplinary impact of womens studies will necessarily be continuous process, as womens studies and associated academic fields further develop. The researchers state that womens studies majors help females to enhance their feminist consciousness and personal self-esteem. Some researchers also point out that females who take part into womens studies changed their attitude towards the perception of men. Women became more likely to compete with men, despite the existing gender disparity. Its important to expand end develop womens studies in order to displace the harsh oppression often made regarding women and reduce the gender inequality. Gender disparity in business One substantial indicator that a society has achieved gender equality would be the existence of approximately equal number of males and females in executive positions. Despite the fact that in Western countries females have far more access to management positions than at any other period in history, equal picture is surely not present. Nonetheless, in recent decades the number of women entering the executive, managerial, or professional ranks in the U.S. has increased. However, these females are concentrated at lower levels of management. Across all economic areas, compared to males, females rarely occupy positions conferring major decision-making authority and the ability to affect others salary or preferment (Duehr Bono, 2006). During the last fifteen years, progression wasnt fast for females in the boards of the largest 500 US firms. The Fortune 500 is the rating of the top 500 United States publicly traded companies as measured by their gross incomes and is complied per annum by Fortune magazine. Women held 9.6 per cent of the Fortune boards seats in 1995, though by 2011 women held 19 per cent seats (Van Der Lippe, De Ruijter, Raub, 2011). Despite the fact that in general, women participation in the Fortune 500 board seats has grown, on the average, the rate of increase is quite slow. According to this rate of increase, it may need at least 70 years for women to attain equity with men on Fortune 500 boards. Females actions can encounter with greater examinations and their performance may be more sharply judged as long as women are not well represented on the board. In spite of the progression women have made, gender pay parity in the workplace is still a problem. In 1990 women earned only 60 cents for every dollar that men earned, implying a gender pay gap of 40 cents (or 40 percent). Although the gender pay gap had stood at roughly that level for decades, the 1995 a striking thing happened: the raw pay gap shrunk rapidly, and it has continued to shrink to this day ( Dey Hill, 2007). Economists analyze the gender wage gap using wage regressions-that is, statistical analyses specifying the relationship between wages and productivity- related characteristics for men and women (Hoque, DuBois, Fox- Cardamone, 2010). The survey concludes that some of the raw wage gap is due to varieties in the measured characteristics of males and females. The gender pay gap has become an essential attribute of the U.S. workstation and is so wide spread that many people believe that it is normal. In most fields college-educated females still earn less than their male co-workers earn, despite the equal working conditions that connected with hours, occupation, parenthood, and other factors that are normally associated with payment system. Women tend to work in the nonprofit and local government areas, where salaries are statistically lower than those in the for-profit and federal government areas (Hoque et al., 2010). The pay parity is particularly a question of fairness. Women dont have enough resources to provide themselves and feed their families, when they are paid less compared to men for equal work. A lot of women experience deficiency is terms of savings as a result of the wage gap, especially when they reti re (Van Der Lippe et al., 2011). The pay inequality is an obstacle for females opportunity to negotiate in the workstation. Most couples tend to prioritize the higher-earning husbands well-being in child care, selection of residence, and other household decisions, because women earn less. The term glass ceiling was used in 1984 by the author of the Corporate Woman column in The Wall Street Journal to describe the process in the work area in USA and other countries. This author reported that an invisible obstacle serves to prevent all but a disproportionately few females from reaching the highest levels of the corporate hierarchy, oblivious of their achievement and merits ( KepHeart Schumacher, 2005). Researchers state that the glass ceiling in corporate America shows a few cracks now, but it is still firmly in place. The point is that the glass ceiling is not a hurdle for a person based on an individuals failure to cope with a higher-level job. It refers to females as a group who are kept from promoting because they are women. Unfortunately, many women who plan their promotion and expect high work positions may not be promoted not because they cant handle the higher-level job, but because they are women. This refers to a special kind of gender discrimination connecte d with the working area. Many researchers also report that despite the glass ceiling there is one more hurdle for female leaders today. That is the peculiar wall that exists at the top, in other words when women succeed in the process of the destruction of strong glass ceiling, then she face another barrier, which is the brick wall between their success and the traditional male hierarchies on the other side. Sometimes as a result, women are choosing to leave the workplace on their own consent, to participate only in family matters, or because they do not want the burden of the leader positions. Actually, women choose to leave corporate America, not so much because of the obvious obstacles previously outlined, but because they choose to establish their own businesses. In fact, the foundation of the owning a business is a very prosperous way of avoiding the glass ceiling concepts. Researchers state that 23% of the women interviewed providing disillusionment with the glass ceiling as the incentive for establishing their own businesses, also between 1997 and 2008, the number of women-owned companies increased by 19 % nationally, in addition, since 1999 there has been a 190 % increase in construction businesses and a 130 % increase in manufacturing businesses started by women ( Terjesen, Sealy, Sinqh, 2009). Moreover, over 2.46 trillion dollars in commerce are generated from female owned businesses. Females are also owners of 12.6 million privately held and majority owned corporations (Terjesen et al., 2009). Its impressive that women serve as employers to 19.5 million employee s; it means that the quarter of all employees work for a woman entrepreneur. These indexes prove the tremendous shift in direction of women entrepreneurism as the chosen approach to crack through the glass ceiling. Sex inequality within family During the last decades womens responsibilities within the family have changed a lot. Therefore, gender inequality acquired a new form due to participation of women in the labor force. The researchers claim that womens employment leads to more equal participation regarding households. Presently, females dont have enough free time to participate in a household as before. Thus, gender inequality has shifted and became less pronounced in the family life. Actually, it took a lot of efforts for women to acquire the same status as men have today. There are two aspects that underlie this change. The first aspect is connected to the womens position of power that she reached as a result of getting independent income. Women now have access to money resources, the opportunity to negotiate the allocation of responsibilities and tasks and became an important and reputable participant in the process of the decision making within the household (Minques, 2012). The second one refers to the females limitation of free time that led to the increase of mens participation in child care and other activities connected with the household. However, researchers state that the disproportional share of the burden of household still exists. Females are assigned more labor-intensive and time-consuming chores. Despite the increase of males participation in a household, men tend to be responsible for familial obligations that take less time and concentration (Mi nques,2012). It means that in spite of the fact that men share the households with their spouses, women still spend a lot of time doing their domestic duties. Another factor that shows the gender inequality within the family is connected to the gender of children. In spite of the statement that the contemporary families are less concerned about gender of their children and tend to have one child of each sex parents still have some preferences. Dahl and Moretti (as sited in Raley and Bianchi, 2006) argues that a number of pieces of evidences suggests that there continues to be a preference for sons, at least among fathers in the United States. For instance, they investigated that couples with two daughters proceed to a third birth than those with two sons. The researchers consider this finding as consistent with a preference for boys over girls. Whether or not parents have a preference in terms of gender of their child, they subconsciously set more hopes on boys than girls. Given past gender differences in adulà Ã‚ µ economic achievements, parents may assume that one gender, most often sons, will have higher economic achievement in adulthood (Raley Bianchi, 2006). In spite of the fact that a lot of couples emphasize that girls will be caregivers for them in the future, parents also suppose that their sons will help them financially, while daughters will spend most of the time in their own families doing households and taking care of children. The presumption that girls will devote the life to their own families as caregivers leads to another area in which couples seem to differentiate the involvement in house-work activities by sex ( Raley Bianchi, 2006). Although parents state that they allocate chores equally, girls do more household work overall. Because girls do more feminine households like cooking and cleaning and boys do more masculine chores as household repairs and outdoor works, its obvious that daughters will do more chores, because cleaning and cooking is a kind of everyday activity, what we cant say about repair. It is an obvious fact that during the long time in US gender inequality in terms of custody of children after parents divorce was in favor of women. However, that tendency has endured a huge surge of changes 25 years ago. National estimates in the 1970s and 80s indicated that women had sole custody of the children approximately 85% of the time, and men retained sole custody 10% of the time, with the remaining 5% spread over a variety of custody arrangements, including grandparent, split or joint custody ( Kalmijn, 2007). The rights of males in this issue has increased and changed for the better over time. Affected by fathers complaints of gender discrimination in custody decisions, constitutional concerns for parity protection, the feminist movement, and the entry of large numbers of females into the labor market, most states had replaced the standards that were based on the gender. Women lost one of their few benefits that refer to gender inequality. The researchers state that the fact that women became more independent and anxious about their career played not a good role for child custody decision-making. In 1980, 2.9 million mothers got sole custody of their children; by 1995 that situation had almost tripled. Nevertheless, by 2007 the number of fathers with sole custody increased by 4 times, while the number of mothers who got the sole custody decreased (DeGermo, Patras, Eap, 2008). Although the number of mothers who have the sole custody substantially prevails, the number of fathers who get the sole custody of children unceasingly grows. Despite all the changes and reforms, gender inequality still exists. Women are trying to avoid many obstacles that they face on their way to success and power. Unfortunately, women need to prove their capabilities in all areas much harder than men do and it does not matter if it is an education, or business, or family scope. Today women still face the gender inequality in terms of leadership positions, pay gap and glass ceiling. They also are unequal with men in area of different college majors and family responsibilities. Nevertheless, due to tremendous efforts, the gender disparity gave a crack in point of womens attendance to college and establishment of womens studies programs. It is well known that the modernity is a time of change and it is obvious that change in gender inequality will continue. But the question is how much time and efforts it will take and will we be satisfied with the results that we will finally receive?

Disgrace: Parent-Child Relationships Essay -- Literary Analysis

Family is often a common theme that is shared across many of J.M Coetzee novels. Family members are usually distant to each other or the relationships between parents and children do not succeed in a conventional way. When Coetzee allows for members to engage in relationships with one another they are either â€Å"strained† or tainted by â€Å"violence† (Splendore 148). This is especially true in his novel Disgrace. In Disgrace David Lurie, an English professor, is arguably forced to resign from his position at the University, because of this Lurie moves to his daughters’ farm in Eastern Cape. The pair appears to have a normal relationship most of the time, but there is some obvious discomfort. As time progresses the relationship begins to improve, only to be ruined by an attack. Lurie is locked up, beaten and set on fire, where Lucy, his daughter, is gang raped and left with a pregnancy. It is at this point that their relationship begins to crumble. Alth ough Lurie loves his daughter it is his failed attempts to understand her situation and his eagerness to push her in the right direction that lead to a colder, more distant relationship. Lurie’s displays of love towards Lucy are undeniable. From the attack on Lurie shows overwhelming amounts of love for Lucy. This is mostly apparent during the attack, where Lurie very seldom shows any concern for his own well-being, but shows enormous amounts for Lucy’s, even when his own life is in jeopardy. As soon as Lurie regains consciousness, and realizes that he has been locked in the bathroom he begins to worry about â€Å"his child in the hands of strangers† and that â€Å"whatever is happening to her will be set in stone† (Coetzee 94). With these thoughts in mind Lurie attempts to escape by kic... ...e end of the novel Lucy and Lurie have grown so far apart that they rarely speak or spend any time together, this is all a result of the problems that Lurie’s arrogance to her situation. Works Cited Coetzee, J.M. Disgrace . New York: Penguin Books, 2000. Print. Dooley, Gillian. J. M. Coetzee and the power of narrative . Amherst, NY: Cambria Press, 2010. Print. Kossew, Sue. "The Politics of Shame and Redemption in J.M Coetzee's Disgrace." Research in African Literatures 34.2 (2003): 155 162. Project Muse . Web. 26 Oct. 2010. McDonald, Bill. Encountering disgrace: reading and teaching Coetzee's novel. Rochester, NY: Camden House, 2009. Print. Splendore, Paola . ""No more mothers and father": The Family Sib-Text in J.M Coetzee's Novels." Journal of Commonwealth Literature 38.3 (2003): 148-161. The Journal of Commonwealth Literature. Web. 26 Oct. 2010

Essay --

Introduction Approximately 1,000 brain and nervous system disorders are directly responsible for more hospitalizations and lost productivity than any other comparable disease group. (Shen, 2013, p. 655). In addition, these disorders restrict criminals from refraining to engage in malicious activity. This inability to distinguish right from wrong is a result of the individual’s consciousness being disorientated while committing a crime. Neuroscience, the study of nerves and how nerves affect learning and behavior, is a relatively new science that can provide the justice system with insight on why criminals act differently from law abiding citizens in particular scenarios. Research in neuroscience shows a strong correlation between brain function and a human’s personhood which includes individual characteristics and cognitive thinking patterns. Neuroscience is capable of providing evidence of a person's â€Å"future dangerousness† in order to deter future altercations. The und erstanding of a human’s thought process through neuroscience should be permissible in the courtroom for more informed court rulings and to transition in to a more progressive approach of criminal punishment. Background of Neuroscience Neuroscience consists of an extensive background of research that has led to various discoveries regarding the human brain. The human brain is the mediator for every aspect of the human body. The brain dictates a wide range of functions spanning from emotion and memory to heart rate and blood flow. The brain is also responsible for how we think, believe, dream and even aspire. A human’s reactions to medical treatments are even processed through the brain. The brain is the sole organ that provides all of the functions that comprise a... ...ails about the brain but will not improve the existing legal principles. It is assumed that the current legal principles in place are still in effect because they provide us with a sensible version of justice. Some fear allowing neuroscience in the courtroom may alter traditional methods that the system has used consistently. The new discoveries in neuroscience will not change the law; they will simply transform the public’s opinion on civil responsibility leading to more effective court rulings and how to approach a more progressive punishment that benefits society. The prosecutors and defense attorneys will both have the ability to benefit from neuroscience. The main factors lie predominately in the history of the criminal, the thoughts and recollections of the judge and/or jurors, as well as the lawyers’ abilities to apply the best case possible for their client.

Lack of Proper Management Practices in the Roaring Dragon Hotel

Roaring Dragon Hotel, a state owned enterprise, was one of the reputed 3 star hotels in China. This case study is about the conflict aroused by taking over of a former C Lack of proper management practices brought down the vibrant history and reputation of Roaring Dragon hotel, which was a premium hotel in south-west China. Hotel International was given the responsibility to transform the Chinese hotel to a modern market oriented organization, to improve its potential. Problem Though the problem areas of the Organizational culture are identified, management failed to manage the Cultural Differences of Expatriate Managers and Employees. The employees faced severe conflicts in adapting the changes made by the new management; consequently they lost their significance, motivation and developed a feeling of insecurity over the top management decisions. Opportunities The change in Management has brought an excellent opportunity to change the deeply entrenched non-productive work behavior and modernize the Hotel to international recognition by proper training, motivation and trust which also generate profits and deliver the quality of service. Recommendations. Inculcating a manager who is thrown out with the Chinese Culture and including the locals in the Management, taking the Employees into confidence by salary hikes, identifying their hard work, and also make sure the change is properly communicated to the Employees through right cha Conclusion Strategy was good initiative but they failed to capitalize it by not taking into account Locals Culture and improper communication between Expatriate Managers and Employees. HI would have improved the communication between the managers and employees by paying more attention to rted following the Guanxi management rather than HI management.

Additional Solved Sums, Financial Management, Prassanna Chandra

CHAPTER 2 1. As a rule of thumb, real rates of interest are calculated by subtracting the inflation rate from the nominal rate. What is the error from using this rule of thumb for calculating real rates of return in the following cases? Nominal rate (%)7121822 Inflation rate (%)4 6 810 Solution: [pic] 2. As a rule of thumb, real rates of interest are calculated by subtracting the inflation rate from the nominal rate. What is the error from using this rule of thumb for calculating real rates of return in the following cases? Nominal rate (%)481119 Inflation rate (%)13 2 4 Solution: [pic] CHAPTER 3 1. At the end of March, 20X6 the balances in the various accounts of Dhoni & Company are as follows: Rs. in million Accounts Balance Equity capital 120 Preference capital 30 Fixed assets (net) 217 Reserves and surplus 200 Cash and bank 35 Debentures (secured) 100 Marketable securities 18 Term loans (secured) 90 Receivables 200 Short-term bank borrowing (unsecured) 70 Inventories210 Trade creditors 60 Provisions 20 Pre-paid expenses 10 Required: Prepare the balance sheet of Dhoni & Company as per the format specified by the Companies Act. Solution: Balance Sheet of Dhoni & Company As on March 31, 20 X 6 Liabilities | |Assets | | |Share capital | |Fixed assets |   | |Equity |120 |Net fixed assets |217 | |Preference |30 | |   | |Reserve & surplus |200 |Investments |   | |   | |Marketable securities |18 | |Secured loans | |Current assets, loans & advances |   | |Debentures |100 | |   | |Term loans |90 | | | |   | |Pre-paid expenses |10 | |Unsecured loans | |Inventories |21 0 | |Short term ank borrowing |70 |Receivables |200 | |Current liabilities & provisions | |Cash & Bank |35 | |Trade creditors |60 | |   | |Provisions |20 | |   | |   |690 |   |690 | 2. At the end of March, 20X7 the balances in the various accounts of Sania Limited are as follows: Rs. in million Accounts Balance Equity capital 250 Preference capital 80 Fixed assets (net)380 Reserves and surplus350 Cash and bank100 Debentures (secured)190 Marketable securities 30 Term loans (secured)120 Receivables420 Short-term bank borrowing (unsecured) 110 Inventories310 Trade creditors 90 Provisions 70 Pre-paid expenses 20 Required: Prepare the balance sheet of Sania Limited as per the format specified by the Companies Act. Solution: Balance Sheet of Sania Limited as on March 31, 20 X 7 Liabilities | |Assets | | |   | | |   | |Share capital | |Fixed assets |   | |Equity |250 |Net fixed assets |380 | |Preference |80 | |   | |Reserve & surplus |350 |Investments |   | |   | |M arketable securities |30 | |Secured loans | |Current assets, loans & advances |   | |Debentures |190 | |   | |Term loans |120 | | | |   | |Pre-paid expenses |20 | |Unsecured loans | |Inventories |310 | |Short term bank borrowing |110 |Receivables |420 | |Current liabilities & provisions | |Cash & Bank |100 | |Trade creditors |90 | |   | |Provisions |70 | |   | |   |1260 |   |1260 | 3. The comparative balance sheets of Evergreen Company are given below: (Rs. in million) Owners' Equity and Liabilities As on 31. 3. 20X6 As on 31. 3. 20X7 Share capital 70 70 Reserves and surplus 40 80 Long-term debt 80 90 Short-term bank borrowings 80 85 Trade creditors 40 70 Provisions 10 20 Total320415 Assets Fixed assets (net)120210 Inventories 90 95 Debtors 60 65 Cash 25 30 Other assets 25 15 Total320415 The profit and loss account of Evergreen Company for the year ending 31st March 2007 is given below: (Rs. in million) Profit & Loss Account for the Period 1. 4. 20X6 to 31. 3. 20X7 Net sales750 Cost of goods sold 505 Stocks290 Wages and salaries105 Other manufacturing expenses110 245 Gross profit Operating expenses135 Selling, administration and general120 Depreciation 15 Operating profit110 Non-operating surplus or deficit(20) EBIT 90 Interest 25 Profit before tax 65 Tax 15 Profit after tax 50 Dividends 10 Retained earnings 40 Required: (a) Prepare the classified cash flow statement for the period 1. 4. 20X6 to 31. 3. 20X7 b) Develop the cash flow identity for the period 1. 4. 20X6 to 31. 3. 20X7 Solution: |A. Cash flow from operating activities | | |- |Net profit before tax and extraordinary items | |85 | | |- |Adjustments for | | | | | |Interest paid | |25 | | | |Depreciation | |15 | | |- |Operating profit before working capital changes |125 | | |- |Adjustments for | | | | | |Inventories | |(5) | | | |Debtors | |(5) | | | |Trade creditors | |30 | | | |Provisions | |10 | | | |Increase in other assets | |10 | | |- |Cash generated rom operations | |165 | | | |Income tax paid | |(15) | | |- |Cash flow before extraordinary items | |150 | | | |Extraordinary item | |(20) | | |- |Net cash flow from operating activities | |130 | |B. |Cash flow from investing activities | | | | |- |Purchase of fixed assets | |(105) | | |- |Net cash flow from investing activities | |(105) | | | | | | | |C. Cash flow from financing activities | | | | |- |Increase in loans | |15 | | |- |Dividends paid | |(10) | | |- Interest paid | |(25) | | |Net cash flow from financing activities | |(20) | | | | | | | |D. |Net increase in cash and cash equivalents | |5 | | |- |Cash and cash equivalents as on 31. 03. 0X6 |25 | | |- |Cash and cash equivalents as on 31. 03. 20Ãâ€"7 | |30 | NoteIt has been assumed that â€Å"other assets† represent â€Å"other current assets†. (b) A. Cash flow from assets -Operating cash flow90 -Net capital spending (105) -Decrease in net working capital35 -Cash flow from assets20 B. Cash flow to creditors -Interest paid25 -Repayment of long term debt (15) -Cash flow to creditors10 C. Cash flow to shareholders -Dividends paid10 -Net new equity raised 0 -Cash flow to shareholders10 We find that (A)=(B) + ( C) i. e. Cash flow from assets=Cash flow to creditors + Cash flow to shareholders 4. The comparative balance sheets of Xavier Limited are given below: (Rs. in million) Owners' Equity and Liabilities As on 31. 3. 20X6 As on 31. 3. 20X7 Share capital 20 30 Reserves and surplus 10 18 Long-term debt 30 25 Short-term bank borrowings 15 15 Trade creditors 10 15 Provisions 5 8 Total 90 111 Assets Fixed assets (net) 16 20 Inventories 44 55 Debtors 20 21 Cash 5 8 Other assets 5 7 Total 90 111 The profit and loss account of Xavier Limited for the year 2007 is given below: (Rs. in million) Profit & Loss Account for the Period 1. 4. 20X6 to 31. 3. 20X7 Net sales220 Cost of goods sold 140 Stocks 90 Wages and salaries 35 Other manufacturing expenses 15 80 Gross profit Operating expenses 40 Selling, administration and general 20 Depreciation 5 Operating profit 15 Non-operating surplus or deficit 1 EBIT 16 Interest 4 Profit before tax 12 Tax 2 Profit after tax 10 Dividends 2 Retained earnings 8 Required: (a) Prepare the classified cash flow statement for the period 1. 4. 20X6 to 31. 3. 20X7 b) Develop the cash flow identity for the period 1. 4. 20X6 to 31. 3. 20X7 Solution: |A. Cash flow from operating activities | | | | |- |Net profit before tax and extraordinary items | |11 | | |- |Adjustments for | | | | | |Interest paid | | 4 | | | |Depreciation | | 5 | | |- |Operating profit before working capital changes | 20 | | | | Adjustments for | | | | |- | | | | | | |Inventories | |(11) | | | |Debtors | | (1) | | | |Trade creditors | | 5 | | | |Provisions | | 3 | | | |Increase in other assets | | (2) | | |- |Cash generated from operations | | 14 | | | |Income tax paid | | (2) | | |- |Cash flow before extraordinary items | | 12 | | | |Extraordinary item | | 1 | | |- |Net cash flow from operating activities | | 13 | |B. |Cash flow from investing activities | | | | |- |Purchase of fixed assets | | (9) | | |- |Net cash flow from investing activities | | (9) | | | | | | | |C. Cash flow from financing activities | | 10 | | |- Increase in equity | | | | |- |Repayment of term loans | | (5) | | | |-Dividend paid | |(2) | | |- |Interest paid | | (4) | | |Net cash flow from financing activities | | (1) | | | | | | | |D. |Net increase in cash and cash equivalents | | 3 | | |- |Cash and cash equivalents as on 31. 03. 20X6 | 5 | | |- |Cash and cash equivalents as on 31. 03. 20Ãâ€"7 | | 8 | NoteIt has been assumed that â€Å"other assets† represent â€Å"other current assets†. (b) ACash flow from assets -Operating cash flow19 -Net capital spending(9) -Decrease in net working capital(9) Cash flow from assets 1 B. Cash flo w to creditors -Interest paid 4 -Repayment of long term debt 5 -Cash flow to creditors 9 C. Cash flow to shareholders -Dividends paid 2 -Net new equity raised(10) -Cash flow to shareholders (8) We find that (A)=(B) + ( C) i. e. , Cash flow from assets=Cash flow to creditors + Cash flow to shareholders CHAPTER 4 1. Premier Company's net profit margin is 8 percent, total assets turnover ratio is 2. 5 times, debt to total assets ratio is 0. 6. What is the return on equity for Premier? Solution: Net profit Return on equity = Equity = Net profit Net sales Total assets x x Net sales Total assets Equity 1 = 0. 08 x 2. 5 x = 0. 5 or 50 per cent 0. 4 Debt Equity Note : = 0. 6 So = 1- 0. 6 = 0. 4 Total assets Total assets Hence Total assets/Equity = 1/0. 4 2. The following information is given for Alpha Corporation Sales3500 Current ratio1. 5 Acid test ratio1. 2 Current liabilities1000 What is the inventory turnover ratio? Solution: Current assets = Current liabilities x 1. 5 = 1000 x 1. 5 = 1500 Quick assets= Current liabilities x 1. 2 = 1000 x 1. 2 = 1200 Inventories= 300 3500 Inventory turnover ratio == 11. 7 300 3. The following information is given for Beta Corporation. Sales5000 Current ratio1. 4 Inventory turnover5 ratio Acid test ratio1. 0 What is the level of current liabilities? Solution: 4. Safari Inc. has profit before tax of Rs. 90 million. If the company's times interest covered ratio is 4, what is the total interest charge? Solution: PBT= Rs. 90 million PBIT Times interest covered = = 4 Interest So PBIT = 4 x Interest PBT = PBIT – interest = 4x interest- interest = 3 x interest = 90 million Therefore interest = 90/3 = Rs. 30 million 5. A has profit before tax of Rs. 0 million. If its times interest covered ratio is 6, what is the total interest charge? Solution: PBT= Rs. 40 million PBIT Times interest covered = = 6 Interest So PBIT = 6 x Interest PBIT – Interest = PBT = Rs. 40 million 6 x Interest – Interest = Rs. 40 million 5 x Interest = Rs. 40 million Hence Interest = Rs. 8 million 6. McGill Inc. h as profit before tax of Rs. 63 million. If the company's times interest covered ratio is 8, what is the total interest charge? Solution: PBT= Rs. 63 million PBIT Times interest covered = = 8 Interest So PBIT = 8 x Interest PBIT – Interest = PBT = Rs. 63 million x Interest – Interest = 7 x Interest = Rs. 63 million Hence Interest = Rs. 9 million 7. The following data applies to a firm : Interest chargesRs. 200,000 SalesRs. 6,000,000 Tax rate40 percent Net profit margin5 percent What is the firm's times interest covered ratio? Solution: Sales = Rs. 6,000,000 Net profit margin = 5 per cent Net profit = Rs. 6,000,000 x 0. 05 = 300,000 Tax rate = 40 per cent 300,000 So, Profit before tax = = Rs. 500,000 (1-. 4) Interest charge = Rs. 200,000 So Profit before interest and taxes = Rs. 700,000 Hence 700,000 Times interest covered ratio = = 3. 5 200,000 8. The following data applies to a firm: Interest chargesRs. 50,000 SalesRs. 300,000 Tax rate 25 percent Net profit margin 3 percent What is the firm's times interest covered ratio? Solution: Sales = Rs. 300,000 Net profit margin = 3 per cent Net profit = Rs. 300,000 x 0. 03 = 9,000 Tax rate = 25 per cent 9,000 So, Profit before tax = = Rs. 12,000 (1-. 25) Interest charge = Rs. 50,000 So Profit before interest and taxes = Rs. 62,000 Hence 62,000 Times interest covered ratio == 1. 24 50,000 9. The following data applies to a firm : Interest chargesRs. 10,000,000 SalesRs. 80,000,000 Tax rate 50 percent Net profit margin 10 percent What is the firm's times interest covered ratio? Solution: Sales = Rs. 80,000,000 Net profit margin = 10 per cent Net profit = Rs. 80,000,000 x 0. 1 = 8,000,000 Tax rate = 50 per cent 8,000,000 So, Profit before tax = = Rs. 16,000,000 (1-. 5) Interest charge = Rs. 10,000,000 So Profit before interest and taxes = Rs. 26,000,000 Hence 26,000,000 Times interest covered ratio == 2. 6 10,000,000 10. A firm's current assets and current liabilities are 25,000 and 18,000 respectively. How much additional funds can it borrow from banks for short term, without reducing the current ratio below 1. 5? Solution: CA = 25,000CL = 18,000 Let BB stand for bank borrowing CA+BB = 1. 35 CL+BB 25,000+BB = 1. 35 18,000+BB 1. 35x 18,000 + 1. 35 BB = 25,000 + BB 0. 35BB = 25,000- 24,300 = 700 BB = 700/0. 35 = 2,000 11. LNG’s current assets and current liabilities are 200,000 and 140,000 respectively. How much additional funds can it borrow from banks for short term, withou t reducing the current ratio below 1. 33? Solution: CA = 200,000CL = 140,000 Let BB stand for bank borrowing CA+BB = 1. 33 CL+BB 200,000+BB = 1. 33 140,000+BB 1. 33 x 140,000 + 1. 33BB = 200,000 + BB 0. 33 BB = 200,000- 186,200 = 13,800 BB =13,800/0. 33 = 41,818 12. Navneet’s current assets and current liabilities are 10,000,000 and 7,000,000 respectively. How much additional funds can it borrow from banks for short term, without reducing the current ratio below 1. 4? Solution: CA = 10,000,000CL = 7,000,,000 Let BB stand for bank borrowing CA+BB = 1. 4 CL+BB 10,000,000+BB = 1. 4 7,000,000+BB 1. 4 x 7,000,000 + 1. 4BB = 10,000,000 + BB 0. 4 BB = 10,000,000- 9,800,000 = 200,000 BB = 200,000/0. 40 = 500,000 13. A firm has total annual sales (all credit) of 25,000,000 and accounts receivable of 8,000,000. How rapidly (in how many days) must accounts receivable be collected if management wants to reduce the accounts receivable to 6,000,000? Solution: 25,000,000 Average daily credit sales = = 68,493 365 If the accounts receivable has to be reduced to 6,000,000 the ACP must be: 6,000,000 = 87. 6 days 68,493 14. A firm has total annual sales (all credit) of 1,200,000 and accounts receivable of 500,000. How rapidly (in how many days) must accounts receivable be collected if management wants to reduce the accounts receivable to 300,000? Solution: 1,200,000 Average daily credit sales = = 3287. 67 365 If the accounts receivable has to be reduced to 300,000 the ACP must be: 300,000 = 91. 3 days 3287. 67 15. A firm has total annual sales (all credit) of 100,000,000 and accounts receivable of 20,000,000. How rapidly (in how many days) must accounts receivable be collected if management wants to reduce the accounts receivable to 15,000,000? Solution: 100,000,000 Average daily credit sales = = 273,972. 6 365 If the accounts receivable has to be reduced to 15,000,000 the ACP must be: 15,000,000 = 54. 8 days 273,972. 6 16. The financial ratios of a firm are as follows. Current ratio = 1. 25 Acid-test ratio = 1. 10 Current liabilities=2000 Inventory turnover ratio=10 What is the sales of the firm? Solution: Current assets = Current liabilities x Current ratio = 2000 x 1. 25 = 2500 Current assets – Inventories = Current liabilities x Acid test ratio 2000 x 1. 10 = 2200 Inventories = 300 Sales = Inventories x Inventory turnover ratio = 300 x 10 = 3000 17. The financial ratios of a firm are as follows. Current ratio = 1. 33 Acid-test ratio = 0. 80 Current liabilities=40,000 Inventory turnover ratio=6 What is the sales of the firm? Solution: Current assets = Current liabilities x Curre nt ratio = 40,000 x 1. 33 = 53,200 Current assets – Inventories = Current liabilities x Acid test ratio = 40,000 x 0. 80 = 32,000 Inventories = 21,200 Sales = Inventories x Inventory turnover ratio = 21,200 x 6 = 127,200 18. The financial ratios of a firm are as follows. Current ratio = 1. 6 Acid-test ratio = 1. 2 Current liabilities=2,000,000 Inventory turnover ratio=5 What is the sales of the firm? Solution: Current assets = Current liabilities x Current ratio = 2,000,000 x 1. 6 = 3,200,000 Current assets – Inventories = Current liabilities x Acid test ratio = 2,000,000 x 1. 2 = 2,400,000 Inventories = 800,000 Sales = Inventories x Inventory turnover ratio = 800,000 x 5 = 4,000,000 19. Complete the balance sheet and sales data (fill in the blanks) using the following financial data: Debt/equity ratio= 0. 80 Acid-test ratio= 1. 1 Total assets turnover ratio= 2 Days' sales outstanding in Accounts receivable= 30 days Gross profit margin= 30 percent Inventory turnover ratio = 6 Balance sheet Equity capital 80,000Plant and equipment. . . . Retained earnings 50,000Inventories. . . . Short-term bank borrowings . . . . Accounts receivable. . . . Cash. . . . . . . .. . . . Sales. . . . Cost of goods sold †¦Ã¢â‚¬ ¦.. Solution: Debt/equity = 0. 80 Equity = 80,000 + 50,000 = 130,000 So Debt = Short-term bank borrowings = 0. x 130,000 = 104,000 Hence Total assets = 130,000+104,000 = 234,000 Total assets turnover ratio = 2 So Sales = 2 x 234,000 = 468,000 Gross profit margin = 30 per cent So Cost of goods sold = 0. 7 x 468,000 = 327,600 Day’s sales outstanding in accounts receivable = 30 days Sales So Accounts receivable = x 30 360 468,000 = x 30 = 39,000 360 Cost of goods sold 327,600 Inventory turnover ratio === 6 Inventory Inventory So Inventory = 54,600 As short-term bank borrowing is a current liability, Cash + Accounts receivable Acid-test ratio = Current liabilities Cash + 39,000 = = 1. 1 104 ,000 So Cash = 75,400 Plant and equipment = Total assets – Inventories – Accounts receivable – Cash = 234,000 – 54,600 – 39,000 – 75,400 = 65,000 Putting together everything we get Balance Sheet Equity capital 80,000Plant & equipment65,000 Retained earnings50,000Inventories54,600 Short-term bank borrowings 104,000Accounts receivable39,000 Cash75,400 234,000 234,000 Sales 468,000 Cost of goods sold327,600 20. Complete the balance sheet and sales data (fill in the blanks) using the following financial data: Debt/equity ratio= 0. 40 Acid-test ratio= 0. 9 Total assets turnover ratio= 2. 5 Days' sales outstanding in Accounts receivable= 25 days Gross profit margin= 25 percent Inventory turnover ratio = 8 Balance sheet Equity capital 160,000,000Plant and equipment——–Retained earnings 30,000,000Inventories †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Short-term bank borrowings . . . †¦Ã¢â‚¬ ¦ Accounts receivable †¦.. . . . Cash . . . . . . . . . . . . Sales †¦. †¦. Cost of goods sold †¦Ã¢â‚¬ ¦. Solution: Debt/equity = 0. 40 Equity = 160,000,000 + 30,000,000 = 190,000,000 So Debt = Short-term bank borrowings = 0. 4 x 190,000,000 = 76,000,000 Hence Total assets = 190,000,000+ 76,000,000 = 266,000,000 Total assets turnover ratio = 2. 5 So Sales = 2. 5 x 266,000,000 = 665,000,000 Gross profit margin = 25 per cent So Cost of goods sold = 0. 75 x 665,000,000 = 498,750,000 Day’s sales outstanding in accounts receivable = 25 days Sales So Accounts receivable = x 25 360 665,000,000 = x 25 = 46,180,556 360 Cost of goods sold 498,750,000 Inventory turnover ratio == = 8 Inventory Inventory So Inventory = 62,343,750 As short-term bank borrowings is a current liability, Cash + Accounts receivable Acid-test ratio = Current liability Cash + 46,180,556 = = 0. 9 76,000 ,000 So Cash = 22,219,444 Plant and equipment = Total assets – Inventories – Accounts receivable – Cash 266,000,000 – 62,343,750 – 46,180,556 – 22,219,444 = 135,256,250 Putting together everything we get Balance Sheet Equity capital 160,000,000Plant & equipment 135,256,250 Retained earnings 30,000,000Inventories62,343,750 Short-term bank borrowings 76,000,000Accounts receivable46,180,556 Cash22,219,444 266,000,000 266,000,000 Sales 665,000,000 Cost of goods so ld 498,750,000 21. Complete the balance sheet and sales data (fill in the blanks) using the following financial data: Debt/equity ratio= 1. 5 Acid-test ratio= 0. 3 Total assets turnover ratio= 1. 9 Days' sales outstanding in Accounts receivable= 25 days Gross profit margin= 28 percent Inventory turnover ratio = 7 Balance sheet Equity capital 600,000Plant and equipment. . . . Retained earnings 100,000Inventories. . . . Short-term bank borrowings . . . Accounts receivable. . . . Cash. . . . . . . .. . . . Sales. . . †¦.. Cost of goods sold†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Solution: Debt/equity = 1. 5 Equity = 600,000 + 100,000 = 700,000 So Debt = Short-term bank borrowings =1. 5 x 700,000 = 1050,000 Hence Total assets = 700,000+1050,000 = 1,750,000 Total assets turnover ratio = 1. 9 So Sales = 1. 9 x 1,750,000 = 3,325,000 Gross profit margin = 28 per cent So Cost of goods sold = 0. 2 x 3,325,000 = 2,394,000 Day’s sales outstanding in accounts receivable = 25 days Sales So Accounts receivable = x 25 360 3,325,000 = x 25 = 230,903 360 Cost of goods sold 2,394,000 Inventory turnover ratio === 7 Inventory Inventory So Inventory = 342,000 As short-term bank borrowings is a current liability , Cash + Accounts re ceivable Acid-test ratio = Current liabilities Cash + 230,903 = = 0. 3 1050 ,000 So Cash = 84,097 Plant and equipment = Total assets – Inventories – Accounts receivable – Cash = 1,750,000 – 342,000 – 230,903 – 84,097 = 1,093,000 Putting together everything we get Balance Sheet Equity capital 600,000Plant &equipment 1,093,000 Retained earnings100,000Inventories 342,000 Short-term bank borrowings 1050,000Accounts receivable 230,903 Cash 84,097 1,750,000 1,750,000 Sales 3,325,000 Cost of goods sold2,394,000 22. Compute the financial ratios for Acme Ltd. Evaluate Acme's performance with reference to the standards. Acme Limited Balance Sheet, March 31, 20X7 Liabilities and Equity Equity capital Rs. 60,000,000 Reserves and surplus45,000,000 Long-term debt72,000,000 Short-term bank borrowing40,000,000 Trade creditors30,000,000 Provisions15,000,000 Total 62,000,000 Assets Fixed assets (net) Rs. 110,000,000 Current assets Cash and bank 30,000,000 Receivables45,000,000 Inventories 61,000,000 Pre-paid expenses 10,000,000 Others 6,000,000 Total 262,000,000 Acme Limited Profit and Loss Account for the Year Ended March 31, 20X7 Net sales Rs. 320,000,000 Cost of goods sold 204,000,000 Gross profit 116,000,000 Operating expenses 50,000,000 Operating profit 66,000,000 Non-operating surplus 4,000,000 Profit before interest and tax 70,000,000 Interest 12,000,000 Profit before tax 58,000,000 Tax 20,000,000 Profit after tax 38,000,000 Dividends 4,000,000 Retained earnings 34,000,000 AcmeStandard Current ratio 1. 3 Acid-test ratio 0. 70 Debt-equity ratio 2. 0 Times interest covered ratio 4. 5 Inventory turnover ratio 5. 0 Average collection period 45 days Total assets turnover ratio 1. 5 Net profit margin ratio 8 % Earning power 20 % Return on equity 18 % Solution: For purposes of ratio analysis, we may recast the balance sheet as under. Let assume that ‘Others’ in the balance sheet represents other current assets. Liabilities and Equity Equity capital . 60,000,000 Reserves and surplus45,000,000 Long-term debt72,000,000 Short-term bank borrowing40,000,000 Total 217,000,000 Fixed assets (net) 110,000,000 Current assets Cash and bank30,000,000 Receivables45,000,000 Inventories61,000,000 Pre-paid expenses10,000,000 Others 6,000,000 152,000,000 Less: Current liabilities Trade creditors30,000,000 Provisions15,000,000 45,000,000 Net current assets 107,000,000 Total 217,000,000 Current assets (i) Current ratio = Current liabilities 152,000,000 == 1. 8 85,000,000 (Current liabilities here includes short-term bank borrowing also) Current assets – Inventories 91,000,000 (ii) Acid-test ratio = == 1. 1 Current liabilities 85,000,000 Current liabilities here includes short-term bank borrowing also) Long-term debt + Short-term bank borrowing (iii) Debt-equity ratio = Equity capital + Reserves & surplus 72,000,000 + 40,000,000 = = 1. 1 60,000,000 + 45,000,000 Profit before interest and tax (iv) Times interest coverage ratio = Interest 70,000,000 == 5. 83 12,000,000 Cost of goods sold204,000,000 (v) Inventory turnover period = = = 3. 34 Invent ory61,000,000 365 (vi) Average collection period = Net sales / Accounts receivable 365 = =51. 3 days 320,000,000/45,000,000 (vii) Total assets =Equity + Total debt =( 60,000,000 + 45,000,000 ) +(72,000,000+40,000,000) = 217,000,000 Net sales320,000,000 Total assets turnover ratio = == 1. 5 Total assets217,000,000 Profit after tax 38,000,000 (ix) Net profit margin= = = 11. 9% Net sales 320,000,000 PBIT 70,000,000 (x) Earning power = = = 32. 3 % Total assets 217,000,000 Equity earning 38,000,000 (xi) Return on equity = = = 36. 2 % Net worth 105,000,000 The comparison of the Acme’s ratios with the standard is given below AcmeStandard Current ratio 1. 8 1. 3 Acid-test ratio 1. 1 0. 7 Debt-equity ratio 1. 1 2. 0 Times interest covered ratio 5. 8 4. 5 Inventory turnover ratio 3. 3 5. 0 Average collection period 51. 3 days 45 days Total assets turnover ratio 1. 5 1. 5 Net profit margin ratio 11. 9 % 8 % Earning power 32. 3 % 20 % Return on equity 36. 2 % 18 % 23. Compute the financial ratios for Nainar Ltd. Evaluate Nainar's performance with reference to the standards. Nainar Limited Balance Sheet, March 31, 20X7 Liabilities and Equity Equity capital Rs. 100,000,000 Reserves and surplus 65,000,000 Long-term debt 140,000,000 Short-term bank borrowing 70,000,000 Trade creditors 24,000,000 Provisions 19,000,000 Total 418,000,000 Assets Fixed assets (net) Rs. 206,000,000 Current assets Cash and bank 25,000,000 Receivables 70,000,000 Inventories 85,000,000 Pre-paid expenses 20,000,000 Others 12,000,000 Total 418,000,000 Nainar Limited Profit and Loss Account for the Year Ended March 31, 20X7 Net sales Rs. 740,000,000 Cost of goods sold 520,000,000 Gross profit 220,000,000 Operating expenses 102,000,000 Operating profit 118,000,000 Non-operating surplus 12,000,000 Profit before interest and tax 130,000,000 Interest 22,000,000 Profit before tax 108,000,000 Tax 46,000,000 Profit after tax 62,000,000 Dividends 20,000,000 Retained earnings 42,000,000 NainarStandard Current ratio 1. 7 Acid-test ratio 1. 0 Debt-equity ratio 1. 4 Times interest covered ratio 5. 5 Inventory turnover ratio 6. 0 Average collection period 40 days Total assets turnover ratio 2. 0 Net profit margin ratio 8 % Earning power 30 % Return on equity 35 % Solution: For purposes of ratio analysis, we may recast the balance sheet as under. Let assume that ‘Others’ in the balance sheet represents other current assets. Liabilities and Equity Equity capital 100,000,000 Reserves and surplus 65,000,000 Long-term debt 140,000,000 Short-term bank borrowing 70,000,000 Total 375,000,000 Assets Fixed assets (net) 206,000,000 Current assets Cash and bank 25,000,000 Receivables 70,000,000 Inventories 85,000,000 Pre-paid expenses 20,000,000 Others 12,000,000 212,000,000 Less: Current liabilities Trade creditors24,000,000 Provisions19,000,000 43,000,000 Net current assets 169,000,000 Total 375,000,000 Current assets (i) Current ratio = Current liabilities 212,000,000 == 1. 9 113,000,000 ( Current liabilities here includes short-term bank borrowing also) Current assets – Inventories 127,000,000 (ii) Acid-test ratio = == 1. 1 Current liabilities 113,000,000 ( Current liabilities here includes short-term bank borrowing also) Long-term debt + Short-term bank borrowing (iii) Debt-equity ratio = Equity capital + Reserves & surplus 140,000,000 + 70,000,000 = = 1. 3 100,000,000 + 65,000,000 Profit before interest and tax (iv) Times interest coverage ratio = Interest 130,000,000 == 5. 9 22,000,000 Cost of goods sold520,000,000 (v) Inventory turnover period = = = 6. 1 Inventory85,000,000 365 (vi) Average collection period = Net sales / Accounts receivable 365 = =34. 5 days 740,000,000/70,000,000 (vii) Total assets = Equity + Total debt =(100,000,000 + 65,000,000 ) +(140,000,000+70,000,000) = 375,000,000 Net sales740,000,000 Total assets turnover ratio = == 2. 0 Total assets375,000,000 Profit after tax 62,000,000 (ix) Net profit margin= = = 8. 4 % Net sales 740,000,000 PBIT 130,000,000 (x) Earning power = = = 34. 7 % Total assets 375,000,000 Equity earning 62,000,000 (xi) Return on equity = = = 37. 6 % Net worth 165,000,000 The comparison of the Nainar’s ratios with the standard is given below NainarStandard Current ratio 1. 9 1. 7 Acid-test ratio 1. 1 1. 0 Debt-equity ratio 1. 3 1. 4 Times interest covered ratio 5. 9 5. 5 Inventory turnover ratio 6. 1 6. 0 Average collection period 34. 5 days 40 days Total assets turnover ratio 2. 0 2. 0 Net profit margin ratio 8. 4 % 8 % Earning power 34. 7 % 30 % Return on equity 37. 6 % 35 % 24. The comparative balance sheets and comparative Profit and Loss accounts for Nalvar Limited, are given below: Comparative Balance Sheets, Nalvar Limited (Rs. in million) | |20X3 |20X4 |20X5 |20X6 |20X7 | |Share capital |1. 6 |1. 6 |1. |1. 8 |2 | |Reserves and surplus |1. 0 |1. 6 |2. 4 |2. 3 |3 | |Long-term debt |1. 4 |1. 5 |1. 8 |1. 6 |1. 4 | |Short-term bank borrowing |1. 3 |1. 5 |1. 7 |1. 5 |1. 2 | |Current liabilities |1. 1 |1. 3 |1. 5 |1. 6 |1. 8 | |Total |6. 4 |7. 5 |9. 2 |8. |9. 4 | |Assets | | | | | | |Net fixed assets |1. 2 |1. 4 |2 |1. 7 |2 | |Current assets | | | | | | | Cash and bank |0. 3 |0. 3 |0. 2 |0. 4 |0. 3 | | Receivables |1. 8 |2. 1 |2. 5 |2. 4 |2. | | Inventories |1. 8 |2. 2 |2. 8 |2. 4 |2. 8 | | |1. 3 |1. 5 |1. 7 |1. 9 |1. 8 | |Other assets | | | | | | |Total |6. 4 |7. 5 |9. 2 |8. 8 |9. 4 | | | | | | | | Comparative Profit and Loss Accounts, Nalvar Limited (Rs. in million) | | |20X4 |20X5 |20X6 |20X7 | | |20X3 | | | | | | | | | | | | |Net sales |3. 8 |4. 2 |5. 3 |6. 5 |7. 8 | |Cost of goods sold |2. 6 |3. |3. 9 |4 |4. 8 | |Gross profit |1. 2 |1. 1 |1. 4 |2. 5 |3 | |Operating expenses |0. 3 |0. 3 |0. 4 |0. 6 |0. 6 | |Operating profit |0. 9 |0. 8 |1 |1. 9 |2. 4 | |Non-operating surplus deficit |0. 1 |0. 2 |0. 1 |0. 3 |0. 3 | |Profit before interest and tax |1 |1 |1. |2. 2 |2. 7 | |Interest |0. 1 |0. 1 |0. 2 |0. 1 |0. 1 | |Profit before tax |0. 9 |0. 9 |0. 9 |2. 1 |2. 6 | |Tax |0. 05 |0. 08 |1 |1. 2 |1. 2 | |Profit after tax |0. 85 |0. 82 |-0. 1 |0. 9 |1. 4 | Required: Compute the important ratios for Nalvar Limited for the years 20X3-20X7. You may assume that other assets in the balance sheet represent other current assets. †¢ Current ratio †¢ Debt-equity ratio †¢ Total assets turnover ratio †¢ Net profit margin †¢ Earning power †¢ Return on equity Solution: We will rearrange the balance sheets as under for ratio analysis. It is assumed that ‘Other assets’ are other current assets |Liabilities and Equity | | | | | | |†¢ Current ratio |2. 2 |2. 2 |2. 3 |2. 3 |2. 5 | |†¢Ã‚  Ã‚  Ã‚  Debt-equity ratio |1. 0 |0. 9 |0. 8 |0. 8 |0. | |Total assets turnover ratio |0. 7 |0. 7 |0. 7 |0. 9 |1. 0 | |†¢Ã‚  Ã‚  Ã‚  Net profit margin(%) |22. 4 |19. 5 |-1. 9 |13. 8 |17. 9 | |†¢Ã‚  Ã‚  Ã‚  Earning power (%) |18. 9 |16. 1 |14. 3 |30. 6 |35. 5 | |†¢Ã‚  Ã‚  Ã‚  Return on equity (%) |32. 7 |25. 6 |-2. 4 |22. 0 |28. 0 | 26. The comparative balance sheets and comparative Profit and Loss accounts for Somani Limited, a machine tool manufacturer, are given below: Comparative Ba lance Sheets, Somani Limited (Rs. in million) | | | 20X5 | 20X6 | 20X7 | | | |20X4 | | | | | |20X3 | | | | | |Share capital |41 |50 |50 |50 |55 | |Reserves and surplus |16 |36 |72 |118 |150 | |Long-term debt |28 |25 |30 |29 |22 | |Short-term bank borrowing |35 |30 |36 |38 |38 | |Current liabilities |24 |28 |30 |30 |25 | |Total |144 |169 |218 |265 |290 | |Assets | | | | | | |Net fixed assets |72 |80 |75 |102 |103 | |Current assets | | | | | | | Cash and bank |8 |9 |15 |12 |11 | | Receivables |24 |30 |59 |62 |85 | | Inventories |35 |42 |55 |75 |79 | |Other Assets |5 |8 |14 |14 |12 | |Total |144 |169 |218 |265 |290 | | | | | | | | |Comparative Profit & Loss Account of Somani Ltd | | (Rs. n million) | | | |20X4 |20X5 |20X6 |20X7 | | |20X3 | | | | | |Net sales |285 |320 |360 |350 |355 | |Cost of goods sold |164 |150 |170 |175 |174 | |Gross profit |121 |170 |190 |175 |181 | |Operating expenses |64 |66 |68 |68 |64 | |Operating profit |57 |104 |122 |107 |117 | |Non-operating surplus defic it |3 |4 |4 |3 |3 | |Profit before interest and tax |60 |108 |126 |110 |120 | |Interest |8 |6 |10 |12 |12 | |Profit before tax |52 |102 |116 |98 |108 | |Tax |15 |26 |30 |26 |29 | |Profit after tax |37 |76 |86 |72 |79 | | | | | | | | Compute the following ratios for years 20X3-20X7: †¢ Current ratio †¢ Debt-equity ratio †¢ Total assets turnover ratio †¢ Net profit margin †¢ Earning power †¢ Return on equity For ratio analysis purpose, we will rearrange the balance sheet as under. It is assumed that ‘Other assets’ are other current assets 20X3 20X4 20X5 20X6 20X7 |Share capital | |41 | |50 | | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Current ratio |1. 2 |1. 5 |2. 2 |2. 4 |3. 0 | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Debt-equity ratio |1. 1 |0. 6 |0. 5 |0. 4 |0. | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Total assets turnover ratio |2. 4 |2. 3 |1. 9 |1. 5 |1. 3 | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Net profit margin (%) |13. 0 |23. 8 |23. 9 |20. 6 |22. 3 | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Earning power (%) |50. 0 |76. 6 |67. 0 |46. 8 |45. 3 | |†¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Return on equity (%) |64. 9 |88. 4 |70. 5 |42. 9 |38. 5 | 26. The Balance sheets and Profit and Loss accounts of LKG Corporation are given below. Prepare the common size and common base financial statements |Balance Sheets (Rs. n million) | | |20Ãâ€"6 |20Ãâ€"7 | |Shareholders’ funds |256 |262 | |Loan funds |156 |212 | |Total |412 |474 | |Fixed assets |322 |330 | |Investments |15 |15 | |Net current assets |75 |129 | |Total |412 |474 | |Profit & Loss Accounts | |(Rs. n million) | | |20Ãâ€"6 |20Ãâ€"7 | |Net sales |623 |701 | |Cost of goods sold |475 |552 | |Gross profit |148 |149 | |PBIT |105 |89 | |Interest |22 |21 | |PBT |83 |68 | |Tax |41 |34 | |PAT |42 |34 | Solution: Common Size statements: Profit and Loss Account | |Regular ( in Rs. |Common Size(%) | | |million) | | | | |20Ãâ€"6 |20Ãâ€"7 | |20Ãâ€"6 |20Ãâ€"7 | |Net sales |623 |701 | |100 |100 | |Cost of goods sold |475 |552 | |76 |79 | |Gross profit |148 |149 | |24 |21 | |PBIT |105 |89 | |17 |13 | |Interest |22 |21 | |4 |3 | |PBT |83 |68 | |13 |10 | |Tax |41 |34 | |7 |5 |PAT |42 |34 | |7 |5 | | | | Balance Sheet | | |Regular ( in million)| |Common Size(%) | | |20Ãâ€"6 |20Ãâ€"7 | |20Ãâ€"6 |20Ãâ€"7 | |Shareholders' funds |256 |262 | |62 |55 | |Loan funds |156 |212 | |38 |45 | |Total |412 |474 | |100 |100 | |Fixed assets |322 |330 | |78 |70 | |Investments |15 |15 | |4 |3 | |Net current assets |75 |129 | |18 |27 | |Total |412 |474 | |100 |100 | 27. The Balance sheets and Profit and Loss accounts of Grand Limited are given below. Prepare the common size and common base financial statements Balance Sheet | | |20Ãâ€"6 |20Ãâ€"7 | |Shareholders’ fund |85 |85 | |Loan funds |125 |180 | |Total |210 |265 | |Fixed assets |127 |170 | |Investments |8 |10 | |Net current assets |75 |85 | |Total |210 |265 | |Profit & Loss Account | | |20Ãâ€"6 |20Ãâ€"7 | |Net sales 450 |560 | |Cost of goods sold |320 |410 | |Gross profit |130 |150 | |PBIT |85 |98 | |Interest |12 |17 | |PBT |73 |81 | |Tax |22 |38 | |PAT |51 |43 | Solution: |Balance Sheet |Regular (Rs. n million) |Common Size(%) | | |20Ãâ€"6 |20Ãâ€"7 |20Ãâ€"6 |20Ãâ€"7 | |Shareholders' funds |85 |85 |40 |32 | |Loan funds |125 |180 |60 |68 | |Total |210 |265 |100 |100 | |Fixed assets |127 |170 |60 |64 | |Investments |8 |10 |4 |4 | |Net current assets |75 |85 |36 |32 | |Total |210 |265 |100 |100 | |Profit & Loss Account |Regular (Rs. n million) |Common Size(%) | | |20Ãâ€"6 |20Ãâ€"7 |20Ãâ€"6 |20Ãâ€"7 | |Net sales |450 |560 |100 |100 | |Cost of goods sold |320 |410 |71 |73 | |Gross profit |130 |150 |29 |27 | |PBIT |85 |98 |19 |18 | |Interest |12 |17 |3 |3 | |PBT |73 |81 |16 |14 | |Tax |22 |38 |5 |7 | |PAT |51 |43 |11 |8 | |Common base year statements | |Balance Sheet |Regular (Rs. n million) |Common base year (%) | | |20Ãâ€"6 |20Ãâ€"7 |20Ãâ€"6 |20Ãâ€"7 | |Shareholders' funds |85 |85 |100 |100 | |Loan funds |125 |180 |100 |144 | |Total |210 |265 |100 |126 | |Fixed assets |127 |170 |100 |134 | |Investments |8 |10 |100 |125 | |Net current assets |75 |85 |100 |113 | |Total |210 |265 |100 |126 | |Profit & Loss Account |Regular (Rs. n million) |Common base year (% ) | | |20Ãâ€"6 |20Ãâ€"7 |20Ãâ€"6 |20Ãâ€"7 | |Net sales |450 |560 |100 |124 | |Cost of goods sold |320 |410 |100 |128 | |Gross profit |130 |150 |100 |115 | |PBIT |85 |98 |100 |115 | |Interest |12 |17 |100 |142 | |PBT |73 |81 |100 |111 | |Tax |22 |38 |100 |173 | |PAT |51 |43 |100 |84 | CHAPTER 5 1. The profit and loss account of Sasi Industires Limited for years 1 and 2 is given below: Using the percent of sales method, prepare the pro forma profit and loss account for year 3. Assume that the sales will be 3500 in year 3. If dividends are raised to 40, what amount of retained earnings can be expected for year 3? |Year | | |1 |2 | |Net sales |2300 |2700 | |Cost of goods sold |1760 |2000 | |Gross profit |540 |700 | |Selling expenses |150 |180 | |General and administration expenses |120 |124 | |Depreciation |94 |84 | |Operating profit |176 |312 | |Non-operating surplus deficit |12 |10 | |Earnings before interest and tax |188 |322 | |Interest |30 |38 | |Earnings before tax |158 |284 | |Tax |56 |96 | |Earnings after tax |102 |188 | |Dividends |35 |35 | |Retained earnings |67 |153 | Solution: |Year | | | | |1 |2 |Average percent |Proforma Profit & Loss| | | | |of sales |account for year 3 | | | | | |assuming sales of 3500| |Net sales |2300 |2700 |100 |3500 | |Cost of goods sold |1760 |2000 |75. 30 |2635. 43 | |Gross profit |540 |700 |24. 70 |864. 57 | |Selling expenses |150 |180 |6. 59 |230. 80 | |General and administration expenses |120 |124 |4. 90 |171. 7 | |Depreciation |94 |84 |3. 60 |125. 97 | |Operating profit |176 |312 |9. 60 |336. 14 | |Non-operating surplus deficit |12 |10 |0. 45 |15. 61 | |Earnings before interest and tax |188 |322 |10. 05 |351. 75 | |Interest |30 |38 |1. 36 |47. 46 | |Earnings before tax |158 |284 |8. 69 |304. 29 | |Tax |56 |96 |3. 00 |104. 3 | |Earnings after tax |102 |188 |5. 70 |199. 46 | |Dividends(given) |35 |35 | |40 | |Retained earnings |67 |153 | |159. 46 | 2. The profit and loss account of KG Electronics Limited for years 1 and 2 is given below: Using the percent of sales method, prepare the pro forma profit and loss account for year 3. Assume that the sales will be 26,000 in year 3. If dividends are raised to 500, what amount of retained earnings can be expected for year3 . |Year | | |1 |2 | |Net sales |18,230 |22,460 | |Cost of goods sold |13,210 |16100 | |Gross profit |5020 |6360 | |Selling expenses |820 |890 | |General and administration expenses