Wednesday, September 2, 2020
I. Presentation Company Background MINISTOP is a comfort storeÃ¢ franchiseÃ¢ chain inÃ Japan. It was built up in May 1980 as a completely claimed auxiliary of Jusco Co. , Ltd. with an underlying capitalization of 30 million yen. By year July 1980 they open its first store in Okurayama in Yokohama, Japan. MINISTOPs arrange breaks the 100 store mark with 80 diversified Stores and 20 stores legitimately oversaw by year May 1985. The first MINISTOP abroad store opens in Seoul, South Korea by November 1990. Furthermore, in the year 1998 1,000 MINISTOP stores in to the max activity, 922 diversified stores and 78 stores legitimately oversaw. By August 2000 Robinsons Retail Group, Mitsubishi Corporation and MINISTOP Co. , Ltd. seal Shareholders Agreement to set up MINISTOP, Philppines. The first MINISTOP store in the Philippines opens at the MRT Central Station, a bustling business center point. MINISTOP has consistently imagined turning into the pioneer in the comfort store industry. MINISTOP has made its quality felt by being the communitys hottest and most amiable present day combo store. It invests wholeheartedly in its wide scope of value items, at moderate costs and worth included help. The duty to a client centered administration has given MINISTOP a serious edge in Japan as well as in the Philippines. MINISTOP has been constantly growing to support the Filipino shopper needs inside and outside the Metro Manila territory. II. Organization Vision/Mission Vision MINISTOP is the pioneer in the accommodation store industry, favored by clients as far as collection, cost and nature of items and worth included assistance. Crucial adds to the improvement of networks by furnishing clients with wide combination of mainstream advantageously bundled product and inexpensive food results of high caliber at reasonable costs through astounding assistance in a spotless, sheltered and neighborly condition. It gives business openings by offering appealing diversifying bundle to nearby business people. III. Items and Services MINISTOP is the accommodation store that radiates vitality and dynamic quality with its cutting edge, inventive, warm and enjoyably clean feeling The one of a kind combo configuration of MINISTOP makes it the main comfort store that serves in-store arranged food items an unmistakable in addition to in comfort shopping. Clients presently appreciate the accommodation of having the option to enjoy newly arranged cheap food in the stores eat in corner that highlights perfect and open to sitting office. IV. Business Opportunities Since MINISTOP is a comfort storeÃ¢ franchiseÃ¢ chain, it ceaselessly extends. Up to 1,000 Mini-Stop stores were in to the max activity, 922 were diversified and 78 stores were straightforwardly overseen. MINISTOP diversifying business goals * To create and set up frameworks and RCSI foundations to help the quick development of stores and needs of franchisees * To constantly create frameworks and strategies to make store activities straightforward and increasingly proficient. Ã¢â¬â¢ Merits of MINISTOP Franchise System * Small capitalizationÃ¢ required Independent enterprising administration * Business experience redundant * Full Franchisers support through preparing programs,Ã¢ advanced business systems,Ã¢ distribution centerÃ¢ andÃ¢ store activity direction * MINISTOPÃ assists by contributing key hardware and working expense. V. Assessment MINISTOP (Bucal Branch) MINISTOP Pansol is one of the hundred parts of MINISTOP everywhere throughout the nation built up in year 2009. It is situated at 55 km. National Road Brgy. Bucal Calamba Laguna and is claimed by Mr. Nilcar B. Donato. Performing SWOT The most compelling method of doing this is to play out a SWOT examination of the organization. Perceiving the Strengths and Weaknesses before handling the Opportunities and Threats is the most ideal approach to move toward the examination: the more Strengths and Opportunities the better the two of them can be viewed as the greater impacts for the accomplishment of your organization. This may well rely upon your companyÃ¢â¬â¢s unique destinations and objectives however the entire procedure will surely give a general glance at the current situation of your business. Qualities * MINISTOP is an accommodation slow down and cheap food in one. Delicate serve dessert is outstanding amongst other selling results of this branch albeit other contender has it yet at the same time customersÃ¢â¬â¢ fulfillment demonstrates that our own is the best. * The commercial center is correct or fit since they are encircled by numerous schools and resorts. * They have a decent administration framework. * They have an open correspondence. * Currently in a decent money related position. * They have talented laborers. * They meet the fulfillment of their workers. Shortcoming * Less clients during weekday mornings. * Competitors offer nearly indistinguishable items from them. * Presence of good rivals in the region. Openings * Good money related position making a decent notoriety for future bank advances and borrowings * If their business persistently flourishes, they will arrive at their objective to be the main accommodation store in the Philippines. * Because of their great administration framework, there is a major open door for extension of the business. * More clients might be engaged. More clients more cash. Dangers * Large and expanding rivalry * Rising expense of Wages * Local authority rejecting plans for future structure extension * Existing item turning out to be unfashionable or disliked The cost can be no longer managed by their client because of economy emergency. VI. End Finally, with the outcomes from the SWOT examination we made, we assessed that the business is worth. In view of our meeting and our perception, it shows that the presentation of MINISTOP is awesome. They are efficient that is the reason no big surprise they have a ton of clients and business runs well. Workers a re making the most of their activity with equivalent remuneration and advantages given by their organization. Furthermore, as the business persistent to runs well there is no uncertainty for them to meet their objective to be the main accommodation store in the zone.
Saturday, August 22, 2020
Reason for Industrialization papers What has all the earmarks of being the fundamental conditions for Industrialization? Give models in Britain, Germany, US, Russia, and Japan. England: Population development, Migrants rushed from field homes to the city ghettos to bring in cash, a solid white collar class and troublesome political, conservative, and social situation, and the diminishing of death rate in newborn children. Germany: Coal and iron creation on the ascent in the 1840's, broad rail works, the unification of Germany, and Bismarck and his supported advancement of substantial industry and its consequences for the military. USA: Many European foreigners, a solid white collar class, the diminishing of death rate in babies, British presentation of cotton material manufacturing plants, the development of steel and iron mining, and the large scale manufacturing of railroads. Russia: Social change dependent on the Communist statement, Czarist government supported railroad improvement, transformed business laws helped creating organizations, and the creation of oil combat hardware, and iron. Japan: The employing of outside specialists to help create current industry, government established ventures, government the offered those business to non-legislative vendors, and the expansion of innovation. ... <!
Impacts of neediness on the family life expositions Our lives comprise of arrangement of occasions. They impact our acting and our life as well as the life of our relatives and their accomplishments. Our conduct is decayed to the conditions that show up in our lives. There are consistently a few potential ways how to manage the circumstance. Additionally our family reacts to our choice. All the viewpoints influence them as well. Be that as it may, there is again a period for them to pick how to confront it. What's more, again their acting has a similar power on the others. Life can truly be an insidious circle. Tillie Olsen is drafting comparative issue in her short story. In I Stand Here Ironing very little occurs: the storyteller presses a few dresses and trades a couple of words with her girl. Yet, the genuine activity is interior. Other than numerous different subjects the creator likewise outlines how the destitution impacts and changes the individual lives inside one family. To begin with the leader of the family we need to allude to the natural dad. He isn't referenced in the story more than one time. In any case, out of this one sentence we can adapt sufficiently very. In those occasions, man was the one gaining the cash. He was the one taking care of the family. He was the one dress it. Other than the reality he generally wasn't at home frequently, he had significant spot in it. He brought the cash for enduring. The dad of the family in this short story could not suffer anymore (he wrote in his farewell note) imparting need to us. That recommends that he adores his family yet he isn't sufficiently able to hold up under the weight of neediness. He needs to pick between to things. Initial one is to remain with the family and investigate the needing eyes with the regret or he can pick the subsequent one, which intends to leave his caring spouse and little girl. Under the weight of brevity of cash and his family's need he chooses to go the subsequent way. Additionally the reality he left a farewell note implies that it was difficult for him to leave them. He is simply not solid ... <!
Friday, August 21, 2020
A clarification of how various ways to deal with work with kids in early years have influenced current arrangement in the UK Over the years numerous individuals have caused investigations of what they to accept were the significant factors in accommodating childrenÃ¢â¬â¢s needs. These pioneers accepted that there ought to be a coordinated way to deal with the early years arrangement. One of these pioneers that had the best impact was Freidrich Froebel. Froebel established the main kindergarten in 1840 and figured out how significant it was for youngsters to have genuine encounters and to be truly dynamic, adapting outside just as inside. He accepted that schools ought to be networks where guardians could join their kids, and that guardians were the main instructors of youngsters. Different pioneers were Maria Montessori who contrived an organized training program dependent on watching youngsters with learning troubles and expanding on crafted by Froebel. She have an alternate view to him in certain zones, for instance accepting that youngsters ought to figure out how to function alone to assist them with turning out to be autonomous students and didn't see the advantage of play. We will compose a custom article test on Eymp 1 Context and Principles for Early Years Provision or then again any comparable theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Rudolf Steiner accepted that the initial seven years of a childs life were the most significant and that they required a painstakingly arranged condition to create in an adjusted manner. Margaret McMillan utilized a large number of FroebelÃ¢â¬â¢s thoughts and imagined that play was significant. She accepted that nurseries were an augmentation of the home and not a substitution for it. During the 1920s she set up nursery schools that were duplicated over the world, having gardens and inviting families and not simply youngsters. One of her most significant accomplishments was presenting school clinical administrations and school suppers. She did this since she accepted that kids couldn't learn of they were eager or wiped out. The entirety of crafted by these and different pioneers affected the way that the present arrangements in the UK have created. Why the early years system accentuates an individual and ndividual way to deal with learning and improvement The early years structure underlines an individual and individual way to deal with learning and advancement on the grounds that esteeming a childÃ¢â¬â¢s distinction, thoughts and sentiments is a significant piece of building up an individual way to deal with the learning and improvement. A kid has all inclusive physical needs, for example, food, drink and cover and mental needs, for example, love, warmth, secur ity, fellowship which are basic to keeping up their personal satisfaction. In perceiving and attempting to meet an individual childÃ¢â¬â¢s needs each childÃ¢â¬â¢s age, physical development, scholarly capacities, passionate turn of events, social abilities and past encounters and connections should be thought of. Section 2 A clarification of the association model of working with carers This empowers various administrations and experts to consolidate to forestall issues occurring. It is utilized to help youngsters, youngsters and families to help secure improved results. A survey of the potential boundaries to cooperation of cares and a clarification of how these obstructions might be defeated There can be hindrances to viable organization working these remember issues for sharing data, individuals not being sure about their jobs and worried that they may commit an error. A clarification of systems that can be utilized to help carers who may respond decidedly or contrarily to association openings Some individuals may feel undermined that new methodologies are being utilized which imply that they need to work in various manners to which they have been utilized to. Some may dislike being overseen by somebody that has various aptitudes and experience from their own. To conquer these issues group gatherings can be utilized for everybody to assist them with cooperating. It will likewise permit everybody to completely comprehend the jobs and obligations of different administrations and experts. A clarification of how compelling multi-office functioning works inside early years arrangement and advantages kids and carers The Common Assessment Framework is utilized to by professionals to survey the extra needs of and their family and to help recognize the administrations that will be required to address their issues. The Common Assessment Framework begins with evaluation and data sharing of the childs advancement inside the EYFS, the consideration and backing offered, the general family and condition. Utilizing this data the lead proficient will work with the group and the guardians to set up an arrangement to help the childÃ¢â¬â¢s improvement. The Common Assessment Framework has a standard structure that is utilized to record and offer with others the subtleties of the evaluation. The things that are significant are clear and successful correspondence between the experts and the offices, keeping precise records and looking after classification.
Security Council The United Nations Security Council (UNSC) is the organ of the United Nations accused of keeping up harmony and security among countries. While different organs of the United Nations just make suggestions to part governments, the Security Council has the ability to settle on choices which part governments must do under the United Nations Charter. The choices of the Council are known as United Nations Security Council Resolutions. The Security Council is comprised of 15 part states, comprising of five perpetual seats and ten transitory seats.The changeless five are China, France, Russia, the United Kingdom and the United States. These individuals hold veto control over meaningful however not procedural goals permitting a changeless part to square appropriation yet not discussion of a goals unsatisfactory to it. The ten impermanent seats are held for two-year terms with part states casted a ballot in by the UN General Assembly on a territorial premise. The Presidency o f the Security Council is pivoted in order every month. Individuals. Security Council individuals should consistently be available at UN central station in New York with the goal that the Security Council can meet at any time.This prerequisite of the United Nations Charter was received to address a shortcoming of the League of Nations since that association was regularly incapable to react rapidly to emergencies. The job of leader of the Security Council includes setting the motivation, directing at its gatherings and regulating any emergency. It pivots in sequential request of the individuals' names in English. There are two classes of enrollment in the UN Security Council: Permanent Members and Elected Members. Lasting membersThe Council situated five perpetual individuals who were initially drawn from the triumphant powers after World War II: 1. The Republic of China 2. The French Republic 3. The Union of Soviet Socialist Republics 4. The United Kingdom of Great Britain and North ern IrelandÃ¢ 5. The United States of America The five lasting individuals from the Security Council are the main countries perceived as having atomic weapons under the Nuclear Non-Proliferation Treaty, in spite of the fact that it needs all inclusive legitimacy, as some atomic countries have not marked the treaty.This atomic status isn't the consequence of their Security Council enrollment, however it is some of the time utilized as a cutting edge defense for their proceeded with nearness on the body. India, Pakistan, North Korea, and Israel have atomic weapons outside of the counter expansion structure built up by the Treaty. In 2004, four of the five lasting individuals were likewise the world's best four weapons exporters when estimated by arms esteem; China was seventh. Every lasting part state has veto powers, which can be utilized to void any considerable goals. A solitary veto from a lasting part exceeds any majority.This isn't in fact a veto, rather only a Ã¢â¬Å"nayÃ¢â¬ vote; anyway a Ã¢â¬Å"nayÃ¢â¬ vote from a perpetual part hinders the section of the goals being referred to. Chosen individuals Ten different individuals are chosen by the General Assembly for two-year terms beginning on 1 January, with five supplanted every year. The individuals are picked by local gatherings and affirmed by the United Nations General Assembly. The African alliance picks three individuals; the Latin America and the Caribbean, Asian, and Western European and Others coalitions pick two individuals each; and the Eastern European alliance picks one member.Also, one of these individuals is an Arab nation, then again from the Asian or African alliance. The current (2007) chosen individuals, with the districts they were chosen to speak to and their Permanent Representatives are: 1. Belgium (Western Europe): Amb. Johan C. Verbeke 2. Republic of the Congo (Africa): Amb. Basile Ikouebe 3. Ghana (Africa): Amb. Nana Effah-Apenteng 4. Indonesia (Asia): Amb. Rezlan Ishar Je nie 5. Italy (Western Europe); Amb. Marcello Spatafora 6. Panama (Latin America and Caribbean): Amb. Ricardo Alberto AriasÃ¢ 7. Peru (Latin America and Caribbean) Ã¢â¬ Amb.Oswaldo de RiveroÃ¢ 8. Qatar (Asia, Arab): Amb. Nassir Abdulaziz Al-Nasser 9. Slovakia (Eastern Europe): Amb. Diminish Burian 10. South (Africa): Amb. Dumisani Kumalo Veto power Under article 27 of the UN Charter choices in the 15-part Security Council on all meaningful mattersÃ¢â¬for model, a choice calling for direct estimates identified with the settlement of a disputeÃ¢â¬ require the certifiable votes of nine individuals. A negative voteÃ¢â¬a vetoÃ¢â¬by a changeless part forestalls reception of a proposition, regardless of whether it has gotten the necessary number of confirmed votes.Abstention isn't viewed as a veto in spite of the wording of the Charter. Since the Security Council's commencement, China (ROC/PRC) has utilized five vetoes; France, 18; Russia/USSR, 122; the United Kingdom, 32; and the Un ited States, 81. Most of Russian/Soviet vetoes were in the initial ten years of the Council's presence. Since 1984, the numbers have been: China, two; France, three; Russia/USSR, four; the United Kingdom, 10; and the United States, 43. Procedural issues are not dependent upon a Security Council veto.This arrangement is significant in light of the fact that it keeps the veto from being utilized to dodge conversation of an issue. Status of non-individuals An express that is an individual from the UN, however not of the Security Council, may take an interest in Security Council conversations in issues that the Council concurs that the nation's advantages are especially influenced. As of late, the Council has deciphered this freely, empowering numerous nations to participate in its conversations or not relying upon how they decipher the legitimacy of the nation's interest.Non-individuals are routinely welcome to partake when they are gatherings to debates being considered by the Council . Job of the Security Council Under Chapter Six of the Charter, Ã¢â¬Å"Pacific Settlement of DisputesÃ¢â¬ , the Security Council Ã¢â¬Å"may examine any contest, or any circumstance which may prompt universal grinding or offer ascent to a disputeÃ¢â¬ . The Council may Ã¢â¬Å"recommend fitting strategies or techniques for adjustmentÃ¢â¬ on the off chance that it verifies that the circumstance may imperil global harmony and security. These suggestions are not official on UN members.Under Chapter Seven, the Council has more extensive capacity to choose what measures are to be taken in circumstances including Ã¢â¬Å"threats to the harmony, penetrates of the harmony, or demonstrations of aggressionÃ¢â¬ . In such circumstances, the Council isn't restricted to proposals however may make a move, including the utilization of furnished power Ã¢â¬Å"to keep up or reestablish universal harmony and securityÃ¢â¬ . This was the reason for UN equipped activity in Korea in 1950 during the Korean War and the utilization of alliance powers in Iraq and Kuwait in 1991. Choices taken under Chapter Seven, for example, monetary approvals, are authoritative on UN members.The UN's job in universal aggregate security is characterized by the UN Charter, which enables the Security Council to: * Investigate any circumstance compromising worldwide harmony; * Recommend techniques for serene goals of a contest; * Call upon other part countries to totally or somewhat hinder financial relations just as ocean, air, postal, and radio correspondences, or to cut off discretionary relations; and * Enforce its choices militarily, if important. The United Nations has kept numerous episodes of worldwide brutality from developing into more extensive conflicts.It has opened the best approach to arranged settlements through its administration as a focal point of discussion and exchange, just as through UN-supported certainty discovering missions, middle people, and dÃ©tente eyewitnesses. UN Peac ekeeping powers, involved soldiers and gear provided by part countries, have as a rule had the option to restrict or forestall struggle, albeit some of the time not. A few clashes, notwithstanding, have demonstrated to be past the limit of the UN to impact. Key to the accomplishment of UN peacekeeping endeavors is the eagerness of the gatherings to a contention to settle calmly through a suitable political procedure.
Tuesday, June 30, 2020
Managing Financial Resources and Decisions Table of Contents Introduction..3 Discuss the main financial statements (AC4.1)..3 Compare appropriate formats of financial statements for different businesses (AC4.2)..6 Interpret financial statements using ratios (AC4.3)..8 Conclusion.. ..12 Bibliography. 13 Appendix.14 Introduction Financial Statements shows an official record of the monetary activities of a business (Butler, 1993). These are written reports that compute the monetary strength, performance and liquidity of a business. It reflects the financial impacts of a business transactions and events on the business. Financial statements are prepared using the concept of Double entry bookkeeping. The equation is: Assets= Liabilities + Equity For the accounts to remain in balance, a change in one account must be matched with a change in another account. These changes are made by debits and credits in the accounts. Discuss the main financial statements (AC4.1) The following are the main financial statement: Balance sheet Balance Sheet displays the fiscal position of a company at a given date (Khan Jain, 2007). Balance sheet has three main elements: Assets: Something a business claims or controls (e.g. Cash, stock, land and building, and so forth) Liabilities: Something a business owes to somebody (e.g. lenders, bank credits, and so on). Equity: It is what a company owes to its ho lders. It is the difference between assets and liabilities. It shows what a company has left after paying off its liabilities. Profit and loss Statement It represents a companys profit or loss over a period of time. It has the accompanying two components: Income: What the business has earned over a period (e.g. deals income, profit wage, and so on) (Khan Jain, 2007). Expense: The expense caused by the business over a period (e.g. pay rates and wages, devaluation, rental charges, and so forth) Net profit is calculated by deducting costs from sales/revenue. Cash Flow Statement It displays the movement of cash over a certain period of time. This movement is grouped into the accompanying fragments: Operating Activities: Represents the money stream from normal activities of a business. Investing Activities: Represents money stream from buying or sales of assets other than inventories (e.g. buying a manufacturing plant). Financing Activities: Represents mon ey stream generated or used on raising and reimbursing share capital and debt together with the payments of interests and dividends. Statement of Changes in Equity It details movements in the holders equity over a fiscal year (Troy, 2009). It is deduced from the accompanying segments: Ã ¢Ã¢â ¬Ã ¢Net Profit or loss throughout the period as reported in the profit and loss statement. Ã ¢Ã¢â ¬Ã ¢Share capital issued or reimbursed throughout the period Ã ¢Ã¢â ¬Ã ¢Dividend payments. Ã ¢Ã¢â ¬Ã ¢Gains or losses perceived straightforwardly in equity (e.g. revaluation surpluses) Ã ¢Ã¢â ¬Ã ¢Effects of rectification of accounting errors. Link between Financial Statements The following diagram summarizes the link between financial statements. Compare appropriate formats of financial statements for different businesses (AC4.2) The four fundamental formats for trading as a profit making organisation in UK are sole traders, partnership, priva te limited company and public limited company. Sole Trader A sole trader is a sole owner of the business. The sole trader is not a separate entity from the business which means if the business gets bankrupt; the sole trader will need to pay off any debts. There is no formal requirement to register the sole traderÃ ¢Ã¢â ¬Ã¢â ¢s business but he/she needs to register with the Inland Revenue and Customs and excise for tax purposes. A sole trader can prepare their own accounts. He/she can do so under the self assessment scheme. Partnership It is somewhat similar to sole trader except that there are more than one person involved in a partnership. Usually a partnership can be made from 2 to 20 individuals. Each partner is responsible for the actions of others. The liability is unlimited which means if the business go bankrupt, they will need to pay off the debts from their pockets. Each partner is taxed individually via self assessment route. A partnership may or may not audit its accounts from a professional firm or an accountant. Private Limited company These are normally family run business. Privately owned businesses may issue stock and have shareholders. Notwithstanding, their shares dont exchange on open market. Shareholders will most likely be unable to offer their shares without the understanding of other shareholders. Advantages Ã ¢Ã¢â ¬Ã ¢limited Liability: It implies that if the organization experience budgetary misery in view of typical business movement, the particular holdings of shareholders wont be at danger of being seized by creditors (Butler, 1993). Ã ¢Ã¢â ¬Ã ¢Continuity of presence: business not influenced by the status of the owner. Ã ¢Ã¢â ¬Ã ¢Minimum number of shareholders need to begin the business are only2. Ã ¢Ã¢â ¬Ã ¢More capital could be raised as the maximum number of shareholders permitted is 50. Ã ¢Ã¢â ¬Ã ¢Scope of development is higher in light of the fact that itÃ ¢Ã¢â ¬Ã¢â ¢s simple to raise capital from financial organizations and advantage of limited liability. Disadvantages Ã ¢Ã¢â ¬Ã ¢Growth may be constrained in light of the fact that maximum shareholders permitted are just 50. Ã ¢Ã¢â ¬Ã ¢The shares in a private limited organization cant be sold or exchanged to any other person without the agreement of other shareholders. The accounts of private limited companies must be prepared by an external accountant in certain circumstances, for example large companies. The accounts need to be submitted to Companies House every year. The accounts for limited companies are normally simpler and often prepared by anyone in the company. Public Limited company Most facts between private and public companies are same. Public companies are usually bigger in size. There must be an authorised share issue of at least ÃâÃ £50,000 of which ÃâÃ £12,500 must be fully paid. Shares can be traded on stock exchange. An external q ualified accountant needs to prepare the accounts and must be submitted to Companies House every year. There are requirements regarding the format of the accounts. The balance sheet must be prepared either using vertical or horizontal formats. The Profit and loss account could have four formats; two vertical and two horizontal. There is also requirement for showing the figures from previous fiscal years in the accounts. Once a business adopts any specific format, it needs to be adopted for the future to ensure consistency in accounts. Interpret financial statements using ratios (AC4.3) XYZ Ltd is hypothetical company with rivals ABC Ltd and DEF Ltd. The ratios cover a three year period (Jan 2010-Dec 2012) in order to show how XYZ Ltd is standing in terms of its competitors in the industry. XYZ Ltd is one of the largest energy companies in the world providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemical products for everyday items. The financial ratios are categorised into following main areas: Profitability Ratio. Return on Investment Ratio. Liquidity Ratio. Long Term Financial Stability Ratio Efficiency Ratio 1) Profitability Ratio Armstrong (1999) Profitability ratio is a key financial indicator in order to analysis companyÃ ¢Ã¢â ¬Ã¢â ¢s financial position. It helps to identify whether the company is generating acceptable profit or not. Gross Profit Margin It shows how well a company is controlling its production costs. It is calculated as a ratio of gross profit to revenue a company is able to generate over its period of operation. It is a very good measure in order to analysis a company performance within the same industry. XYZÃ ¢Ã¢â ¬Ã¢â ¢s Gross profit margin is fairly stable over the last two years. Its 31.1% in 2012 compared to ABC Ltd which is 16.6%, although DEF Ltd has the highest gross profit margin among the lot which is 35.8%. XYZ has achieved this through tight control over its production department. The decrease in GPM compared to 2010 is due to the weakening of US natural gas prices. (Appendix 4). Net Profit Margin Armstrong (1999) it is calcu lated by dividing the net profit over the Sales generated in the year. XYZÃ ¢Ã¢â ¬Ã¢â ¢s Net profit margin was 13.3 % in 2010 while in 2012 its 11.1%. The decrease is due to the incident in a particular refinery in 2010 and because of that the company is making an expenditure of around $340 million as a restructuring cost. ABCÃ ¢Ã¢â ¬Ã¢â ¢s net profit margin has also gone down from 14.8 % in 2010 to 14.2 % in 2012 while the ratio increased in case of DEF to an impressive figure of 22% in 2012. (Appendix4) 2) Return on Investment Ratio This ratio tells us whether a company is generating enough return on the investment. (Armstrong, 1999) Return on Equity ROE is an important ratio and it is used to identify the companyÃ ¢Ã¢â ¬Ã¢â ¢s ability to generate a profit over the investment of its shareholders. It is calculated as a ratio of companyÃ ¢Ã¢â ¬Ã¢â ¢s after tax profits to shareholder funds which also includes reserves. (Armstrong, 1999) XYZÃ ¢Ã¢â ¬Ã¢â ¢s ROE in 2012 was 22.5 % which means that the company is able to generate 22c over a $ investment by the shareholders. But it has declined by 17.3% and 6.1 % compared to 2011 and 2010 respectively. It is due to the fact that the company has sold some of its fixed assets over which it suffered a loss also some of the impairment losses which significantly reduced its PAT figure. ABCÃ ¢Ã¢â ¬Ã¢â ¢s ROE figure has decreased from 27.1% to 24.4% from 2010 to 2011. DEFÃ ¢Ã¢â ¬Ã¢â ¢s has fairly maintained its ROE and its moving around 31 %. (Appendix 5) 3) Liquidity Ratio These ratios measure a companyÃ ¢Ã¢â ¬Ã¢â ¢s capabilities to meet its short term obligations as and when they fall due. These ratios also assess how well a company is managing its working capital requirements. (Troy, 2009) Current ratio Troy (2009) a current ratio of 2 considered very well as it means that the company has doubled its liquid assets compared to its current liabilit ies to pay off. Ratio below 1 is considered quite risky as it poses a threat to the survival of the company and also the going concern status. As a rule of thumb a ratio of 1.5 considered as normal. The current ratio in case of XYZ was 1.03 in 2012 compared to 0.99 in 2011. It is due to the fact that the company has increased its cash and cash equivalent by an impressive 37.5% compared to 2011. In case of ABC its 1.2 in 2012 compared to 1.19 in 2011 which is higher than ABC. DEF has A ratio of 1.35 in 2012 (Appendix 6). Quick Ratio Troy (2009) Quick ratio is just an adjustment in current ratio in order to assess the business ability to meet its obligation with the readily available liquid assets. Stock is deducted from current assets because itÃ ¢Ã¢â ¬Ã¢â ¢s not considered to be readily convertible into cash. In case of XYZ, the quick ratio was 0.69 in 2012, compared to 0.74 and 0.78 in 2011 and 2010 respectively which means that the company is sitting on the ind ustry norm and if some of the creditors demand their money quickly, it poses a problem the company although some of the current liability like tax could be paid nine months after the end of the financial year. As far as ABC is concerned, there was also a gradual decrease from 0.91 in 2010 to 0.88 in 2012. In case of DEF, the quick ratio was highest which 0.96 is in 2012. (Appendix 6) 4) Long Term Financial Stability Ratio This ratio considers companyÃ ¢Ã¢â ¬Ã¢â ¢s long term financial health in order to identify its ability to pay off its debts in relation to provider and holder and also if there are any loan covenants which could be enforced which in turn poses a threat to the survival of the business (Troy, 2009). Interest Cover It estimates the companyÃ ¢Ã¢â ¬Ã¢â ¢s ability to pay off interest over its borrowings. As a general rule, a cover over 3 considered as safe but it varies industry to industry. (Troy, 2009) XYZÃ ¢Ã¢â ¬Ã¢â ¢s Interest cover i n 2012 was 29.1 compared to 48.9 and 53 in 2011 and 2010 respectively. Although there was a decrease, it is fairly safe in order for a company to meet its obligations in the long run. (Appendix 7) 5) Efficiency Ratio It shows how well a company is utilizing its resources in order to generate good return. (Armstrong, 1999) Inventory Turnover This ratio indicates how quickly a company is able to sell its inventory. The more is the ratio, the more is the demand of the product. (Troy, 2009) XYZÃ ¢Ã¢â ¬Ã¢â ¢s inventory turnover was 13.2 in 2012 compared to 10.1 and 12.1 in 2011 and 2012 respectively. It means that the products of XYZ are in high demand. ABC and DEF showed a reduced figure of 9.4 and 6.3 in 2007. (Appendix 8) Receivable Days It shows how quickly a company is able to convert its debtors into cash. This ratio is usually in days. (Troy, 2009) XYZ has shown impressive figures of 41, 43 and 50 days in 2012, 2011 and 2010 respectively. The decrease is due to the fact that the company has tight policies over its credit and there is a strong internal control system is in placed to ensure that debtors pay on time. In case of ABC, there was an increase in debtor days of 76 in 2012 compared to 68 in 2011. (Appendix 8) Conclusion XYZ Ltd has been able to show constantly great performance as far as financial and non-financial part of operation. However, the organization has been confronting with a few issues that are demonstrated by the financial ratios. This might be illuminated by enhancing the development programs, by investing into other markets, and even, having a partnership or alliance with other organizations in distinctive parts of the globe. This could be carried out by further focusing on sources of funds and by attracting more investors. With this, the organization can achieve diverse projects and strategies that will aid in order to prevent or at least, decrease the effect of financial issues towards the orga nization. It will be helpful if XYZ Ltd will proceed and even enhance its effort especially with respect to forecasting. This will encourage guaranteeing that the strategies and decisions to be implemented by the organization will be successful in helping the organization to survive the worldwide financial crisis and enhance its position in the global market. Bibliography Private limited company (2014). Available: https://www.dineshbakshi.com/igcse-business-studies/business-organisation/revision-notes/879-private-limited-companies. [Last accessed 24 May 2014] Financial statements (2014). Available: https://accounting-simplified.com/financial/statements/types.html. [Last accessed 24 May 2014] NetMBA. Financial Ratios (2013). Available: https://www.netmba.com/finance/financial/ratios/ [Accessed 24 May 2014]. Bates, B, Goodman, S Ladson, W, de Varies, C Botha, S (2005), Business Management: Fresh Perspective, Pearson South Africa Butler, R (1993). Strategic Invest ment Decisions: Theory, Practice and Processes, Taylor Francis. Khan Jain 2007, Financial Management, Tata McGraw-Hill. Gorma, T (2003), The Complete IdiotÃ ¢Ã¢â ¬Ã¢â ¢s Guide to MBA Basics, Alpha Books. Armstrong, M (1999), Financial Principles and Techniques. Price, A D F (1995), International Project Accounting, International Labor Organization. Troy, L (2009), Almanac of Business and Industrial Financial Ratios, CCH. Appendix Appendix 1 The companyÃ ¢Ã¢â ¬Ã¢â ¢s budgeted balance sheet is drawn as follows. XYZ Balance sheet 2012 2011 2010 $million $million $million Noncurrent assets Property Plant equipments 155,365 142,453 131,876 Current assets Trade receivables 33,012 32,460 33,565 Inventory 26,554 18,915 19,760 Cash and bank balance 19856 24,876 25,876 Total Current assets 80,202 75,339 75,290 Total assets 236,076 217,601 206,914 Share capital 158,845 142,249 115,987 Current liabilities Trade creditors 43,152 42,236 42,136 Total payables 77,231 75,352 71,497 Total equity and liability 236,076 217,601 206,914 Appendix 2 Income Statement 2012 2011 2010 $million $million $million Revenue 291,438 274,316 245,486 Cost of Sales 200,766 187,183 163,026 Gross Profit 90,672 87,133 82,460 Operating Expenses Production and Manufacturing 25,915 23,793 28,226 Distribution and Administration 15,371 14,417 10,776 Others 17,034 13,735 10,776 Operating Expenses 58,320 51,945 49,778 Net Profit (GP-OS) 32,352 35,188 32,682 Appendix 3 Operating Profit Per Annum ( Amount in $ Millions) 2012 2011 2010 Operating Profit in the Year 32,352 35,158 32,682 % Change Year by Year growth (7.9) 7.5 Appendix 4 Profitability Ratios ( Amount in $ Millions) Ratio 2012 2011 2010 Gross Profit Margin (GPM) 31.1% 31.7% 34.3% Gross Profit (Sales Ã ¢Ã¢â ¬Ã¢â¬Å" Cost of Sales) 90,672 87,133 82,460 Sales Revenue 291,438 274,316 245,486 Net Profit Margin ( NPM) 11.1% 12.8% 13.3% Profit Before Interest and Tax (PBIT) 32,352 35,158 32,682 Sales Revenue 291,438 274,316 245,486 Appendix 5 Return On Investment Ratios ( Amount in $ Millions) Return On Equity (ROE) 22.5% 26.4% 28.0% Profit After Tax (PAT) 21,169 22,311 22,448 Ordinary Share Capital and Reserves 93,690 84,624 Return on Capital Employed (ROCE) 20.3% 24.7% 24.1% Profit Before Interest and Tax (PBIT) 32,352 35,158 32,682 Capital Employed 158,845 142,249 Appendix 6 Liquidity Ratios ( Amount in $ Millions) Ratio 2012 2011 2010 Current Ratio 1.03 0.99 1.05 Current Assets 80,202 75,339 75,290 Current Liabilities 77,231 75,352 71,497 Quick Ratio 0.69 0.74 0.78 Current assets-Stock 53,648 56,424 55,530 Current liabilities 77,231 75,352 71,497 Appendix 7 Long Term Financial Stability Ratios (Amount in $ Millions) Ratio 2012 2011 2010 Interest Cover (Times) 29.1 48.9 53.0 Profit Before Interest and Tax (PAT) 32,352 35,158 32,682 Finance Cost 1,110 718 616 Appendix 8 Efficiency Ratios ( Amount in $ millions) Ratio 2012 2011 2010 Inventory Turnover 13.2 10.1 12.1 Cost of Goods Sold (COGS) 200,766 187,183 163,026 Inventory 26,554 18,915 19,760 Asset Turnover 1.23 1.26 1.18 Revenue 291,438 274,316 245,486 Total Asset 236,076 217,601 206,914 Receivable Turnover (Days) 41 43 50 Trade Receivables 33,012 32,460 33,565 Sales 291,438 274,316 245,486 Creditors payment period (Days) 78.1 82.3 94.3 Trade creditors 43,152 42,236 42,136 Average Purchases 200,766 187,183 163,026 Appendix 9 InvestorsÃ ¢Ã¢â ¬Ã¢â ¢ Ratios ( Amount in $ Millions) Ratio 2012 2011 2010 Earnings Per Share (EPS) Basic 108.7c 109.8c 105.7c EPS Diluted 107.84 109.12 103.66 Appendix 10 COMPETITOR DATA 2012 2011 2010 Gross Profit Margin (GPM) ABC Ltd 16.6% 17.5% 17.6% DEF Ltd 35.8% 37.1% 39.9% Net Profit Margin (NPM) ABC Ltd 14.2% 14.3% 14.8% DEF Ltd 22% 18.1% 20.6% Return On Equity (ROE) ABC Ltd 24.4% 23% 27.1% DEF Ltd 31.0% 32.0% 31.1% Return On Capital Employed (ROCE) ABC Ltd 24.2% 29% 34% DEF Ltd 38.1% 39.3% 33.2% Current Ratio (Times) ABC Ltd 1.2 1.19 1.15 DEF Ltd 1.35 1.27 1.30 Quick ratio (Times) ABC Ltd 0.88 0.89 0.91 DEF Ltd 0.96 0.92 0.92 Interest Cover ABC Ltd 36.7 32.8 34.9 DEF Ltd 16.6 16.4 19.9 Inventory Turnover ABC Ltd 9.41 11.32 12.77 DEF Ltd 6.33 7.09 5.53 Asset Turnover ABC Ltd 1.32 1.35 1.39 DEF Ltd 1.2 1.26 1.10 Receivable turnover (Days) ABC Ltd 76 68 78 DEF Ltd 51 47 61 Creditors payment period(Days) ABC Ltd 93 87 81 DEF Ltd 53 54 57 Page 1 of 20
Saturday, May 30, 2020
For thousands of years, history has been kept alive through the written word; me and women of virtue, in particular, have recorded social struggles so that future generations can know about the events that transpired over the course of their lifetimes. Through Freedom in the Family, Patricia Stephens Due and Tananarive Due set about to make sure that the injustices that they and countless other African Americans experienced during the Civil Rights Movement would never be forgotten. In their memoir, the mother and daughter duo enumerated all the obstacles they had to overcome in their fight for freedom for themselves and for their family. Their story is one of a search for purpose, identity, and a desire to be free amongst a sea of discrimination and injustice, but above all, it is a piece of history that has been uncovered in the hopes that it will never be repeated. Patricia and Tananarive both state their purposes for writing this memoir in the first few chapters in a way that is effective at setting the tone for the memoir and emphasizing the importance of what the writers are undertaking. Patricia tells a short anecdote of a time when she was sitting on a textbook committee and realized none of the textbooks mentioned Tallahassee with regards to the Civil Rights Movement. She writes, Ã¢â¬Å"Without written documentation, I was told, the forty-nine days my sister and I spent in jail, the tear gas that burned my eyes, and the people I knew could not be includedÃ¢â¬ (2). It is at this moment that Patricia realizes she and her fellow freedom fighters are not yet a part of history, and so she writes this memoir with the intention of turning their story into history. Storytelling is important to the Due family, and this sentiment is echoed by Tananarive in her first chapter as she describes the Holocaust survivor telling her story in Miami Beach . Tananarive laments, Ã¢â¬Å"Soon she [the Holocaust survivor] will be gone, and all of her stories will go with herÃ¢â¬ (5). Tananarive wants to make her own story more concrete so that it does not disappear with her. She want to make sure that Ã¢â¬Å"the children of strangersÃ¢â¬ ¦ will never, ever forgetÃ¢â¬ the sufferings of an entire race, and this becomes her main purpose for writing Freedom in the Family (6). Something to note is the effectiveness of both womenÃ¢â¬â¢s tone in their opening chapters. Both Patricia and Tananarive speak with a tone of urgency and an underlying sense of fear of what could happen if they do not complete this task. This tone lends credibility to the actions they will later describe, for it makes it easier to see them as the fierce activists that they are, fearing not for what would happen to them because of their actions but for what would happen to the world if they not take action immediately. There is no doubt that, through Patricia and TananariveÃ¢â¬â¢s doing, Freedom in the Family has become a part of history. However, it is unlike most of the history that students will read in their classes because the way the way that events and people are described makes it feel like history is coming alive for readers. This is one of the most effective tools the writers use, for it makes the events that they are describing stay in the readersÃ¢â¬â¢ minds long after they close the book. For example, take TananariveÃ¢â¬â¢s description of Patricia when she goes to meet the officers who are accusing her husband of stealing machine guns in his black van. According to Tananarive, her mother Ã¢â¬Å"stood in [the policeÃ¢â¬â¢s] overwhelming spotlight that night in a short, sheer slip as through she wore a bulletproof vestÃ¢â¬ ¦. My mother never flinched, and she sure wasnÃ¢â¬â¢t about to startÃ¢â¬ (215). That imagery evoked by those few sentences is electrifying in a way that most depictions of history are not. That brief instance of history is described in a way that makes it seem like it is the climax of a captivating thriller. Most of the memoir is written in a similar fashion; the endings of most chapters contain either elements of foreshadowing or other strong declarative statements about various personages that add to the dramatic feel to this part of history. These descriptions further demonstrate the importance of storytelling to the Due family. They want their history to be more than just dull and boring like the textbooks that Patricia was reading in her opening chapter; they want their history to be stories that later generations can remember and share with others. An additional element of the memoir that makes it so captivating is its modern-day relevance. The way that the struggles that the authors as well as other people they describe in their memoir are depicted, with such vivid detail and expressive language, make them very easy to relate to. An underlying theme of the memoir is that many of the issues that Patricia and Tananarive faced are issues that people today face, no matter what race they are. Take the issue of identity and belonging that Tananarive struggles with during her years at Northwestern University. When Tananarive writes, Ã¢â¬Å"I felt like a white woman in blackface when I set foot in FMO [For Members Only, a black student organization] meetings,Ã¢â¬ she is expressing feelings of displacement in her college campus (108). These issues of discomfort in her own skin and a lack of connection with her peers are problems that plague many college, and even high school, students today, and it is almost comforting to read that even a woman that has done so many extraordinary things still struggles with the most ordinary human emotions. Additionally, Freedom in the Family tackles the issue of finding out what the purpose of oneÃ¢â¬â¢s life is. This issue is blatantly expressed when John says, Ã¢â¬Å"[Civil rights] was my life. PatriciaÃ¢â¬â¢s always talking about that, how itÃ¢â¬â¢s my whole lifeÃ¢â¬ (151). The issue of what one is supposed to be doing with their life, of how they can make a difference in the world is one that many people, both young and old, struggle with today and that is depicted beautifully in Freedom in the Family. The structure of the memoir is another element of the work that makes it relevant for todayÃ¢â¬â¢s readers. The fact that the book is laid out so there are two stories being told, each a generation apart and yet completely intertwined with one another, implies the ongoing nature of history. The is no set beginning or end to any period in history. The story of the civil rights movement as told by Patricia and Tananarive spans two generations, and the structure of the memoir implies that there is no reason why it cannot be an issue of the following generationÃ¢â¬âthe generation of college students today. This problem is not yet over. Patricia even alludes to actions of activists in modern times that echoes the actions of the activists she worked with when she was in college when she describes observing a Ã¢â¬Å"sit-in [in 2000] outside of Florida Governor Jeb BushÃ¢â¬â¢s office in Tallahassee. [She] felt as if [she] had stepped back in timeÃ¢â¬ (364). She also writes about ho w that same year, Tallahassee was the site of the largest protest march in the stateÃ¢â¬â¢s history. Patricia ends her memoir with the words Ã¢â¬Å"History happens one person at a timeÃ¢â¬ (369.) These words demonstrate that there is still history being made in the field of civil rights; however, it is up to this new generation to record their history and keep it alive. Undoubtedly, one of the most important themes of the work is the importance of recording oneÃ¢â¬â¢s own history, but just as important is recognizing the fact that oneÃ¢â¬â¢s own history may still be ongoing. Had Freedom in the Family been written when Patricia and Tananarive were older, more specifically when TananariveÃ¢â¬â¢s children were grown up, there most likely be three intertwining stories instead of two, for even the next generation of Dues would have something to say with regards to civil rights. Patricia and Tananarive were strong and determined activists, and they played a major role in the Civil Rights Movement in Florida, but there are intense battles to be fought against discrimination today. The Dues knew this, for there is no sense of finality to their work. The memoir is left open-ended because there is still work to be done. The Dues accomplished their purpose in writing this memoir; they wanted to record their history so they could share it with others and so that it would never be forgotten. Beyond that, it is important that their history be remembered so that it is never repeated. In other words, so that no more young African Americans have to go to jail for fighting for freedom, be tear gassed for expressing their opinion, or be afraid that the entire world is against them. Whether this goal of the memoir was ultimately accomplished remains to be seen. Only can the actions of todayÃ¢â¬â¢s generation can be the judge of that.