Analysis of Financial Statements Research Paper

Analysis of Financial Statements - Research Paper Example Although this high level of debt provides higher level of ROE for the company, the debt levels are quite high thus entails very huge risks. A major recommendation for these companies is to conserve their funds instead of paying dividends, and use these in order to fund their growth instead of relying too much on debt. While the two companies remain profitable, the apparent weakness in their operation is their liquidity position, where in most instances they have less than a dollar in current assets, much less in quick assets to cover a dollar of current liability. Although the companies manage their assets well in terms of efficiency, a major recommendation is to retire current portions of debt by long-term debt in order to improve liquidity position. This decline in liquidity position, as well as the companies' aggressive capital structure policies create a perception of higher risks although both are profitable in their operations. Over the years, cash flow from the company's operations has been decreasing. For the period of four years, the cash flow in 2007 is at the lowest at 942.5. This cash flow results from the company's operations. The company's cost of sales has been relatively stable over the years, at 75% of sales in 2004 and 2005, to 76% in 2006 and 2007. Consequently, the company's gross profit figure is stable at 25% in 2004 and 2005, and 24% in 2006 and 2007. The company's expenses in relation to sales has also been at a relatively stable level over the course of four years. The company's marketing expenses are 19% of sales in 2004 and 2005, and 18% in 2006 and 2007. Coles Myer Limited spends 4% of its sales over the period of four years. After the expenses are deducted, the company's net profit figure plays around 2-3% from 2004 to 2007; 3% in 2004, 2% in 2005, 2% in 2006, and 3% in 2007 in proportion to sales. For every dollar of sales, the company receives an after-tax net profit of 0.02 cents over the course of four years. These figures result in a return on assets of 14% in 2004, 7% in 2005, 6% in 2006, and 8% in 2007. As regards the company's efficiency, the company has increased its inventory turnover over the course of the years: from 8.82 in 2005, down to 8.71 in 2006, then up to 9.08 in 2007. The company's frequency of collection has increased too, from 41.21 times in 2005, to 48.98 times in 2006, and up to 64.22 times in 2007. However, the performance of its assets in relation to sales has been decreasing over the years, from 3.94 in 2005, 3.7 in 2006, and 3.68 in 2007. ii. Investing From 2004 to 2007, Coles Myer Limited has increased its investments in property, plant and equipment-the company's biggest expenditure as regards its investing activities from 704.1 in 2004, to 925.0 in 2005, 1040.1 in 2006 and 1040.8 in 2007. This signifies some physical expansion on the

Issuing the Draft Essay Example for Free

Issuing the Draft Essay In response to the first argument in favor of volunteer enlistment, I would counter that the overall effect would continue to support the status quo in that privileged and wealthy Americans would not have an urgent need to enlist. Due to this economic division between classes, the lower class sector would continue to be the majority of soldiers because of a lack of better options in civilian society. In this general sense the moral of the ‘volunteer’ would not increase but would remain either indifferent or resentful. Making the draft mandatory could be seen as an equalizing force that supports the doctrine that ‘all men are created equal,’ whether or not that be the case. Response to second argument: Responding to the second argument against the draft due to the lack of funding by the part of the government, I would contend that the volunteering aspect would cut the overall size of the military because of the negative perspective that the government is mis-appropriating their funds. If this were the case, volunteers would feel no urgent necessity to enlist because they would feel their efforts would not be recognized or supported sufficiently enough to warrant such a life changing decision. Although I agree that volunteers who join causes they believe in will ultimately perform with more vigor, in this case the moral boost would be ever-vanishing.

history and the novel 1984 Essay examples -- essays research papers

Totalitarianism is defined as a political system of government in which those in power have complete control and do not allow people to oppose them. Those in power are a single party dictatorship in which one party controls state, and all other parties are forbidden. Other important features that distinguish or help define totalitarianism include restricted or eliminated constitutional rights, state terrorism, and totalitarian rulers are known as ideological dictators. The government of Oceania, in the novel 1984, is an example of totalitarian society. Germany, under Adolf Hitler’s National Socialism is another example of totalitarianism. Orwell’s Oceania has both similarities and differences to the totalitarian states of the twentieth century. The government of Oceania is clearly a totalitarian state, which compares and contrasts with Hitler’s National Socialism.   Ã‚  Ã‚  Ã‚  Ã‚  The state, society, and daily life in Oceania present obvious characteristics of a totalitarian state. In Oceania society, privacy and freedom to not exist. Citizens of Oceania are constantly monitored by telescreens, and subjected to a constant barrage of propaganda. With telescreens in everyone’s homes, it is very easy to broadcast the views and beliefs of The Party. Forms of propaganda include posters and slogans. In this society it is impossible to go anywhere without seeing a poster of Big Brother, reading slogans such as â€Å"BIG BROTHER IS WATCHING YOU† and â€Å"War is Peace†¦Freedom is...

Major Games in Amateur Sport Essay

â€Å"The world of major sports events is a dynamic, evolving and growing industry (like the business of sport itself), with an increasing number of major world events†¦ broadcasting rights and cut throat competition to be the host.† (Gratton et al, 2001, 63)   The Deaflympics program will present 20 different competitive events in the following summer disciplines: †¢ Athletics – Track and Field: †¢ Badminton: Team competition/Men's and Women's singles /Men's and Women's doubles /Mixed doubles †¢ Basketball – Team tournament for men and women. †¢ Beach Volleyball – Team tournament for men and women. †¢ Bowling – Singles – Six games /Doubles – Six games /Trios  Ã¢â‚¬â€œ Six games /Team (5 players) †¢ Cycling Road – Sprint /Individual Time Trial /Road Race /Points Race †¢ Football – Team tournament for men and women. †¢ Handball – Team tournament for men and women. †¢ Judo †¢ Karate †¢ Taekwondo – Men Women †¢ Orienteering – Long Event /Relay Event /Sprint Event †¢ Shooting – Free Rifle prone /Free Rifle three positions /Air Rifle /Free Pistol /Rapid Fire Pistol †¢ Swimming – Freestyle / Backstroke/Breaststroke /Butterfly Individual Medley Team relay †¢ Table Tennis – Men's and Women's singles /Men's and Women's doubles /Men's and Women's teams /Mixed doubles/ †¢ Tennis – Men's and Women's singles /Men's and Women's doubles /Mixed doubles †¢ Volleyball – Team tournament for men and women. †¢ Water Polo- Team tournament for men only. †¢ Wrestling Freestyle -The  wrestling competitions will consist of the following events (men only): †¢ Wrestling Greco-Roman men only The â€Å"bid to host† process involves two critical steps.   The Initial applications must be submitted to the International Olympic Committee.   Procedural contact via the IOC will be made with the International Committee of Sports for the Deaf. However, protocol indicates that final decision remains with the oversight sanctioning body of The Summer and Winter  Deaflympics, the International Olympic Committee. â€Å"The increasing complexity of the relationship between a greater number of public and private actors has challenged the political and institutional capacity of the state to steer the policy choices affecting society and the economy.†Ã‚   (Budd et al, 2004, 12) The national and local level participation requires an official application from the â€Å"Applicant City.†Ã‚     Known as the candidature acceptance procedure, a questionnaire in Phase One of the bid process is submitted to the IOC. The collaboration between the local sponsors, city officials and bid committee benefit from a complete overview of organizing the Deaflympics and of what will be expected from them should they be selected as Candidate Cities and reach Phase Two of the procedure. Venue selection for each sport must meet the following general criteria. However the most important and over whelming factor is broadcast access.   â€Å"The struggle for control over Olympic communication is centered on television, the medium largely responsible for transforming the modern Olympic movement.† (Larson et al, 1993, 65) On a secondary yet vital level, the type and condition of the competition surface or field of play, seating capacity and format, number of locker rooms, training amenities, equipment storage, sports shops, concession stands, public address and multi media system, box office, press facilities, communications, parking/handicap access, scheduling, medical facilities and advertising. Upon selection, a second standard specific to the sport will be evaluated. Ever more policy makers view telecommunications as a strategic resource hence the financial foundation of the bid is paramount to success of the games. (Read et al, 1996, 9) To ensure the security of athletes, coaches, and fans the need for professional security support, trained staff and volunteers, communication equipment, local, national and international media, accreditation, VIP room and services.   Most importantly liability and cancellation insurance, physician(s) on-site, first aid facilities on-site, emergency medical services, strategies for injuries and an emergency evacuation strategy must be in place. Critical to the planning and implementation to the plan require participation from local communities by actively attending the games and using their purchasing power. All local and state wide sport organizations will provide professional help with the operational aspects of the events. Regarding sports issues, â€Å"it is necessary to have some appreciation of the structure of government, the development and organization of sport and the dominant pattern of policy-making.†   (Houlihan, 1997, 22) The ï€  Municipal Government, local and state wide business community together with state wide corporate sponsors must provide the fund raising mechanism to initiate the application process, maintain operational support thru to the completion of the games. Gratton, Chris Sport in the City: The Role of Sport in Economic and Social Regeneration.Publisher: Routledge. Place of Publication: London. Publication Year: 2001. Page Number: 63. Budd, Adrian, Sport and International Relations: An Emerging Relationship. Publisher: Routledge. Place of Publication: New York. Publication Year: 2004. Page Number: 112. Larson, James F., Global Television and the Politics of the Seoul Olympics. Publisher: Westview Press. Place of Publication: Boulder, CO. Publication Year: 1993. Page Number: 65. Houlihan, Barrie Sport, Policy, and Politics: A Comparative Analysis. Publisher: Routledge. Place of Publication: London. Publication Year: 1997. Page Number: 22. Read, William H. Telecommunications Strategy for Economic Development. Publisher: Praeger Publishers. Place of Publication: Westport, CT. Publication Year: 1996. Page Number: 9.      

Guns, Germs, And Steel Essay

In the book Guns, Germs, and Steel the Fates of Human Societies, Jared Diamond discusses the superior developments and advancements of mankind that shaped history through time. Throughout the book Diamond states how disease and germs have shaped history up to today. â€Å"Because diseases have been the biggest killers of people, they have also been decisive shapers of history.† For instance, Diamond relates to a story once told to him by a friend about a man that contracted a very odd disease. As the story progressed you eventually found out how the man got the illness by having sexual intercourse with a sheep. This illustrates human diseases of animal origins (pp.195, 196. 197, 206-210). Diamond also discusses how the Europeans were able to defeat the Native Americans because they brought diseases to them that they were not yet immune to. In Guns, Germs, and Steel, Diamond discusses the evolution of disease that is contracted from animals. Diseases that have had a major impact throughout history such as smallpox, malaria, tuberculosis, plague, flu, and measles have been adapted by humans from animals (p. 196). One example of how a germ can spread is by patiently waiting to be transmitted through the victim. For instance we often contract salmonella by eating raw or unprepared food like eggs and meat; and the worm that causes anisakiasis by eating raw fish. Germs don’t just wait to be transmitted by waiting to be eaten by the victim but by hitchhiking on the animals’ salvia. For example, mosquitoes, fleas, and even lice carry fatal germs that can cause diseases such as malaria, plague, or even typhus, and once bitten you can easily contract any of those diseases (p.198). Moreover, the worst type of transmission of the germs is by passing through a woman to her fetus and pass on –infect- her child. That type of transmission diamond describes as contracting syphilis, AIDs, and rubella (p.199). AIDs, as Diamond informs us, came from a virus in African Monkeys that was first detected in 1962 (pp.197, 199, 201, and 208) One main example of how disease had a huge impact on shaping the course of history is the Europeans defeating the Native Americans (pp. 210, 211, 212, 197). The Europeans came to the Americas in 1492 on Columbus’s voyage. When they came they were able to conquer the Native Americans due to the murderous microbes. Many more Native Americans died in bed from disease than ob n the battle field because of the Eurasian germs. For example, Cortà ©s came to the Mexican coast attempting to conquer the Aztec empire. When he reached Tenochtitlan he was able to escape with one third of his army left. When they returned, the Spaniards had an advantage due to the epidemic that was brought to the Aztecs by a Spaniard. The epidemic spread like wildfire and by 1618 the Aztec population drastically decreased from 20 million to 1.6 million (p.210). Additionally, Pizarro had the same luck when he got to Peru and attempted taking over the Inca Empire in 1531. Smallpox came in 1526 killing a large number of Inca residents’ as well as the emperor and his successor. Hernando de Soto came to the Americas and was the firsts to march through southern united states. He came across many abandoned sites due to epidemics and Eurasian germs. As de Soto marched through the Indian sites of lower Mississippi, Eurasian germs had already reached most of north America and kept spreading. The main killers of the Indians had been the Eurasian germs that were not introduced to the native Americans and therefore never immune.