Case 12-5 - 1629 Words

June 3, 2014 GE Tuesday Training GECA- GE Capital Americas: * Many business segments within this vertical. Leasing transactions that are smaller in monetary size; 25 million is max deal. * Healthcare, financial services, financing equipment, venture capital deals, fleet services, equity financing. * Equipment Financing: Loans, Leasing, Sale Leasebacks, Equipment Management and Remarketing * Vendor Financing: solutions to enhance manufactures management position. * Franchise Financing: Financing new locations, acquisitions, reimaging, debt restructuring, refinancing. Franchise restaurants, chain restaurants and limited service hotels. * Fleet Services: rental car companies where they want to lease fleets of†¦show more content†¦* Swap rate is the rate at which banks trade money; constantly changing. * Loan for a marina 100 MM USD 5 years 9:1 (90% debt, 10% Equity) * Swaps + 500†¦.. 600 BPS * GE’s investment is only 10%, GE costs of funds 500 MM, margin is 400 MM. * ROI and ROE (20 ROE will get de al done, if not reached the deal wont be completed) GECC Funding- GE Corporate Capital Funding * Raise Funding for GE and GE Capital, maintain adequate liquidity and capital to support strong ratings safety and soundness. * Treasury Mix 75% Cash, 76% Debt; Financial Services Asset is Cash and its Liability is also Cash. * Finance Receivables and Investments are $s owed to GECC, generates interest expense on Pamp;L. * Debt is $s owed to others, generates interest expense on Pamp;L. * In financial services if you miss a coupon payment the company is dead, must sell off assets to pay bondholders. * Basis point is 1% of 1%, cash makes 3 Basis Points or .003% * Interest earned – Interest Paid = Net Interest Margin – Losses, Operating Expenses, etc. = Net Income * NIM is difference between Earned and Paid Interest * Net Income is returned to shareholders; GE Capital shareholders are GE Corporate. * Negative NIM is bad in return * Instrument TypesShow MoreRelatedA Note On Computer Statement939 Words   |  4 Pages#include #include myDate.h; #include using namespace std; myDate::myDate() { year = 1959; month = 5; day = 11; } myDate::myDate(int M, int D, int Y) { if (M = 1 M = 1 D displayString , endl; } void myDate::decrDate(int N) { int j = GTJDate(year, month, day); if (N 0) { N = -N; } J -= N; int a, b, c; GTJDate(j, a, b, c); year = a; month = b; day = c; } void myDate::incrDate(int N) { int j = GTJDate(year, month, day); if (N 0) { Read MoreChapter 3 Case Study Hamilton County Essay1141 Words   |  5 Pagessame all the way across the board. All of the judges had many cases but overall I think that the Common Pleas Court is the court that makes the most mistakes. I think this because they basically had the same amount of cases as the other courts did but had many more appeals. i. INTRODUCTION Hamilton County judges try thousands of cases each year. Some of the cases are appealed and of those cases, some are reversed. There are 182,908 cases handled by 38 judges in 3 different courts (Common Pleas CourtRead MoreCost of Capital Mini Cases1131 Words   |  5 PagesMini Cases: Cost of Capital Part A: Cost of Debt Mini Case 1: Cost of perpetual/Irredeemable debt Ashok Leyland issued Rs 100 Lakhs 12% debentures of Rs. 100 each. Calculate the cost of debt in each of the following cases. (Assume corporate tax rate being 40%). Case (a) If debentures are issued at par with no floatation cost. Case (b) If debentures are issued at par with 5% floatation cost. Case (c) If debentures are issued at 10% premium with 5% floatation cost. Case (d) If debentures are issuedRead MoreStenosis : The Disease Burden Of Hydrocephalus1669 Words   |  7 PagesKafarnosky score were recorded. Data were divided into 2 sets based on the patient’s age i.e. whether 1 year or 12 years. Data were recorded on google data collection form and analyzed using Google spreadsheets.Results: Out of 258 cases of hydrocephalus, 52 had aqueductal stenosis. Male to female sex ratio for this condition was 3:2. There were 25 cases 1year and 27 cases 12 years old who were diagnosed with hydrocephalus due to aqueductal stenosi s. Associated conditions were bilateral congenitalRead MoreAdvanced Automobile Concepts Essay1697 Words   |  7 PagesCase 18.4 Advanced Automobile Concepts Case Objective This case item requires students to identify the proper associative analysis, run it with SPSS, and interpret the findings with respect to implications for integrated case, Advanced Automobile Concepts SPSS dataset. Answers to Case Questions 1. Use each unique hybrid model demographic profile to determine whether or not statistically significant associations exist, and if they do, recommend the specific media vehicles for radio, newspaperRead MoreSoftware Assignment 2 Essay1128 Words   |  5 PagesDiagrams 5 4.1 Use Cases 5 4.1.1 Use case (Actor: Travel agent) 5 4.1.2 Use case (Resort) 6 4.1.3 Use Case (Student) 6 4.2 Use Case Scenario 7 4.3 State Chart Diagram 8 4.4 Entity Relation Diagram 9 4.5 Class Diagram 9 4.6 Collaborative Diagram 10 4.7 Sequence Diagram 11 5. Requirements 11 5.1 Functional Requirements 11 5.1.1 User registration 12 5.1.2 User login 12 5.1.3 Book flight and Hotel 12 5.2 Non-functional requirements 12 5.2.1 Performance 12 5.2.2 Usability 12 5.2.3 Reliability 12 5.2.4 SupportabilityRead MoreEvaluation Of The Gym Program891 Words   |  4 PagesCase 1 1. We used operation time to calculate the utilization of various facilities. Calculation is as below. After analysing the calculated result, we found out that cardio equipment is over booked during peak hours in 2000 as per the five year growth trend, the gym membership is going to grow in future years. So in order to accommodate the future members the gym has to increase the capacity of the cardio equipment’s with 40%cushion capacity and the rest of the facilities which are nearing theRead MoreBiopharma: Costs and Japan Mexico U.s1502 Words   |  7 PagesCase study-- Biopharma Inc. Presented by:Prateek Mittal 2010PMM111 Yatendra Singh 2010PMM115 Himanshu Bhatt 2010PMM132 Main points ‡ Problems faced in financial performance of biopharma Inc. ‡ Steep decline in profits. ‡ Very high costs at Germany and Japan plants. ‡ Stable demand across the globe. ‡ Company could no longer afford to have surplus capacity. ‡ Aims at having an efficient network. ‡ Cutting the costs is the top priority. Background ‡ Biopharma Inc. is a global manufacturerRead MoreThe Importance Of Data Analysis1000 Words   |  4 Pages14 and Figures 2 to 5. The results are separated for young and old individuals and also for different body segments/joints. Methodological approaches used Out of 102 papers, almost half (54 cases, 51%) used motion capture, 40 cases (38%) used accelerometers, and only 12 cases (11%) used other methods for data acquisition (note that some studies used more than one method). In addition, the LyE calculated using the acceleration time series constituted a marked number of 38 cases (31%) followed by theRead MoreEssay about Quality Associates Case578 Words   |  3 PagesH0: ÃŽ ¼ = 12 Ha: ÃŽ ¼ ≠  12 2) ÃŽ ± = .01, but for two-tail test will = .005 3) Z = (x-bar – ÃŽ ¼) / (ÏÆ'/√n) 4) Z Critical value at .005 = 2.575 5) Z = (11.9587 – 12) / (.21/√30) = -1.077187 The observed value lies outside the rejection region, so we fail to reject H0. 6) P –value is between .2814 for a two-tailed test Sample 2 1) H0: ÃŽ ¼ = 12 Ha: ÃŽ ¼ ≠  12 2) ÃŽ ± = .01, but for two-tail test will = .005 3) Z = (x-bar – ÃŽ ¼) / (ÏÆ'/√n) 4) Z Critical value at .005 = 2.575 5) Z = (12

Count the Cost is a Collaborative Effort to Fight the War...

Count the Costs is a collaborative project between a range of organisations that, while representing a diverse range of expertise and viewpoints, share a desire to reduce the unintended costs of the war on drugs. The Count the Costs project aims to highlight the negative impacts of the war on drugs in seven key policy areas: Development and Security; Public health; Human Rights; Stigma and Discrimination; Crime; The Environment; and Economics. The project calls upon world leaders and UN agencies to quantify the unintended negative consequences of the current approach to drugs, and assess the potential costs and benefits of alternative approaches. (Count the Costs, 2012) Outlining the Problem In 2008, the Executive Director of UNODC, Antonio Maria Costa, affirmed â€Å"there is indeed a spirit of reform in the air, to make the conventions fit for purpose and adapt them to the reality on the ground that is considerably different to the time they were drafted. With the multilateral machinery to adapt the conventions already available, all we need is: first, a renewed commitment to the principles of multilateralism and shared responsibility; second, a commitment to base our reform on empirical evidence and not ideology; and thirdly, to put in place concrete actions that support the above, going beyond mere rhetoric and pronouncement†. (UNODC, 2008) There has been an increasing sentiment of discontent within the international community about the ineffectiveness of global drugShow MoreRelatedThe War on Drugs: a Losing Battle?1626 Words   |  7 Pageswhen American soldiers came home from the Vietnam war addicted to heroin, President Richard Nixon initiated the War on Drugs. More than a decade later, President Ronald Reagan launches the South Florida Drug Task force, headed by then Vice-President George Bush, in response to the city of Miami’s demand for help. In 1981, Miami was the financial and import central for cocaine and Marijuana. Thanks to the task force, drug arrests went up by 27%, and drug seizures went up by 50%. With that, the need forRead MoreNanotech 1AC Essay13565 Words   |  55 Pagespicture of the status of nanotechnology in Mà ©xico, but it is worth mentioning some of the efforts made in this regard. This Causes Toxic Poisoning of the Environment Vandermolen 2k6 (LCDR Thomas D. Vandermolen, USN (BS, Louisiana Tech University; MA, Naval War College), is officer in charge, Maritime Science and Technology Center, Yokosuka, Japan. He was previously assigned as a student at the Naval War College, Newport Naval Station, Rhode Island. He has also served as intelligence officerRead MoreSolution Manual CH 1 Management A Practical Introduction 6th Edition8886 Words   |  36 Pagesâ€Å"Management Councils† the Best Way to Organize a Company? In 2005, foregoing the traditional corporate hierarchy, Cisco Systems established an unusual system of 48 interlocking management â€Å"councils† to speed up decision-making and make it more collaborative. However, in 2011, they abandoned the council-based structure, saying that it actually slowed down decision-making. Now Cisco has just 3 management councils. Your Call: If the system of 48 management councils added bureaucracy and diluted managerialRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pages Agricultural and Pastoral Societies in Ancient and Classical History Jack Metzgar, Striking Steel: Solidarity Remembered Janis Appier, Policing Women: The Sexual Politics of Law Enforcement and the LAPD Allen Hunter, ed., Rethinking the Cold War Eric Foner, ed., The New American History. Revised and Expanded Edition E SSAYS ON _ T WENTIETH- C ENTURY H ISTORY Edited by Michael Adas for the American Historical Association TEMPLE UNIVERSITY PRESS PHILADELPHIA TempleRead MoreStrategy Safari by Mintzberg71628 Words   |  287 PagesI see, quoth he, the Elephant is very like a rope! And so these men of Indostan Disputed loud and long, Each of his own opinion Exceeding stiff and strong, Though each was partly in the right, And all were in the wrong! Moral So oft in theologic wars, The disputants, I ween, Rail on in utter ignorance Of what each other mean, And prate about an Elephant Not one of them has seen! W e are the blind people and strategy formation is our elephant. Since no one has had the vision to see the entireRead MoreDeveloping Management Skills404131 Words   |  1617 Pages380 Selecting the Appropriate Conflict Management Approach 383 Comparing Conflict Management and Negotiation Strategies 386 Selection Factors 386 Resolving Interpersonal Confrontations Using the Collaborative Approach A General Framework for Collaborative Problem Solving 391 The Four Phases of Collaborative Problem Solving 392 SKILL ANALYSIS 405 Case Involving Interpersonal Conflict 405 Educational Pension Investments 405 SKILL PRACTICE 410 Exercise for Diagnosing Sources of Conflict 410 SSS SoftwareRead MoreFundamentals of Hrm263904 Words   |  1056 PagesEmployee Rights Legislation and the HRM Implications 86 The Privacy Act of 1974 86 The Fair Credit Reporting Act of 1974 87 The Drug-Free Workplace Act of 1988 87 The Polygraph Protection Act of 1988 88 The Worker Adjustment and Retraining Notification Act of 1988 88 Current Issues Regarding Employee Rights 90 Drug Testing 90 DID YOU KNOW?: Why Organizations Conduct Drug Tests 91 Honesty Tests 92 Whistle-Blowing 92 Employee Monitoring and Workplace Security 93 DID YOU KNOW?: By the Numbers 93 WorkplaceRead MoreMarketing Management130471 Words   |  522 Pagesmarketing effort will take over some period of time, while tactics are actionable steps or decisions made in order to follow the strategies established. For instance, if a strategy is to enter a new market, the tactics may involve the marketing decisions made to carry this out. Performing strategic and tactical planning activities in advance of taking action is considered critical for long-term marketing success. Identify - Arguably the most important marketing function involves efforts needed toRead More65 Successful Harvard Business School Application Essays 2nd Edition 147256 Words   |  190 Pageswill xii Introduction allow you to bring your charisma and individuality to life. So, steer clear of cut-and...paste jobs from the resume. Once you map out the essays, you will find the word limit excru... ciating, Although an obstacle, the word count can help you tell your story more selectively and succinctly. After all, does your employer want you to be unnecessarily long-winded and unfocused? Probably not. The essays included in this book will convince you that you can be poignant in few wordsRead MoreOverview of Hrm93778 Words   |  376 PagesSimilarly, many organizations have developed compensation systems with elaborate benefits packages to replace simple hourly pay or piece rate incentive systems f. Cost of Human Resource Human resource activities have become increasingly important because of the high cost of personal problem. The largest single expense in most organizations is labor cost, which is often considerably higher than the necessary because of such problems as absenteeism tardiness and discrimination. Copyright  © Virtual University

Understanding Kuznets Curve

The Kuznets curve is a hypothetical curve that graphs economic inequality against income per capita over the course of economic development (which was presumed to correlate with time). This curve is meant to illustrate economist Simon Kuznets’ (1901-1985) hypothesis about the behavior and relationship of these two variables as an economy develops from a primarily rural agricultural society to an industrialized urban economy. Kuznets’ Hypothesis In the 1950s and 1960s, Simon Kuznets hypothesized that as an economy develops, market forces first increase then decrease the overall economic inequality of the society, which is illustrated by the inverted U-shape of the Kuznets curve. For instance, the hypothesis holds that in the early development of an economy, new investment opportunities increase for those who already have the capital to invest. These new investment opportunities mean that those who already hold the wealth have the opportunity to increase that wealth. Conversely, the influx of inexpensive rural labor to the cities keeps wages down for the working class thus widening the income gap and escalating economic inequality. The Kuznets curve implies that as a society industrializes, the center of the economy shifts from rural areas to the cities as rural laborers, such as farmers,  begin to migrate seeking better-paying jobs. This migration, however, results in a large rural-urban income gap and rural populations decrease as urban populations increase. But according to Kuznets’ hypothesis, that same economic inequality is expected to decrease when a certain level of average income is reached and the processes associated with industrialization, such as democratization and the development of a welfare state, take hold. It is at this point in economic development that society is meant to benefit from trickle-down effect and an increase in per-capita income that effectively decreases economic inequality.   Graph The inverted U-shape of Kuznets curve illustrates the basic elements of the Kuznets’ hypothesis with income per capita graphed on the horizontal x-axis and economic inequality on the vertical y-axis. The graph shows income inequality following the curve, first increasing before decreasing after hitting a peak as per-capita income increases over the course of economic development. Criticism Kuznets’ curve has not survived without its share of critics. In fact, Kuznets himself emphasized the â€Å"fragility of [his] data† among other caveats in his paper. The primary argument of critics of Kuznets’ hypothesis and its resulting graphical representation is based on the countries used in Kuznets’ data set. Critics say that the Kuznets curve does not reflect an average progression of economic development for an individual country, but rather it is a representation of historical differences in economic development and inequality between countries in the dataset. The middle-income countries used in the data set are used as evidence for this claim as Kuznets primarily used countries in Latin America, which have had histories of high levels of economic inequality as compared to their counterparts in terms of similar economic development. The critics hold that when controlling for this variable, the inverted U-shape of the Kuznets curve begins to dimin ish. Other criticisms have come to light over time as more economists have developed hypotheses with more dimensions and more countries had undergone rapid economic growth that did not necessarily follow Kuznets’ hypothesized pattern. Today, the environmental Kuznets curve (EKC)—a variation on the Kuznets curve—has become standard in environmental policy and technical literature.

Essay on The Failure of the War on Drugs - 1025 Words

In the early 1980s, policymakers and law enforcement officials stepped up efforts to combat the trafficking and use of illicit drugs. This was the popular â€Å"war on drugs,† hailed by conservatives and liberals alike as a means to restore order and hope to communities and families plagued by anti-social or self-destructive pathologies. By reducing illicit drug use, many claimed, the drug war would significantly reduce the rate of serious nondrug crimes - robbery, assault, rape, homicide and the like. Has the drug war succeeded in doing so? In Illicit Drugs and Crime, Bruce L. Benson and David W. Rasmussen (Professors of Economics, Florida State University, and Research Fellows, the Independent Institute), reply with a resounding no. Not†¦show more content†¦Certainly many violent and property criminals use drugs. But only a small percentage of drug users commit violent or property crimes. Drug offenders are far more likely to recidivate for a drug offense than for a violent offense or property crime. Is drug use to blame for the crimes drug users do commit? Benson and Rasmussen suggest that the reverse is closer to the mark: Many criminals who use drugs did not begin to do so until after they began committing nondrug crimes. A Bureau of Justice Statistics survey of prison inmates found that about half of the inmates who had used a major drug, and about 60 percent of those who used a major drug regularly, did not do so until after their first arrest for a nondrug crime. â€Å"Similarly,† Benson and Rasmussen note, â€Å"more than half of local jail inmates who reported they were regular drug users in the survey . . . said that their first arrest for a crime occurred an average of two years before their drug use. Once an individual has decided to turn to crime as a source of income, he or she may discover that drugs are more easily obtained within the criminal subculture and perhaps that the risks posed by the criminal justice system are not as great as initially anticipated. Furthermore, criminal activity generates income with which to buy goods that previously were not affordable, including drugs. Thus, crime leads to drug use, not vice versa.† Because relatively few illicit drug offenders commitShow MoreRelatedThe Failure of the War on Drugs Essay1529 Words   |  7 PagesThe War on Drugs in the United States has a profound influence on both the incarceration rates and activities of the criminal justice system. Many politicians and advocates of the policy claim that the War on Drugs is a necessary element to deter criminal behavior and reduce the crime rate. However, studies show that drug deterrent policies on possession and use have been inadequate and unsuccessful (Cole Gertz, 2013). Studies also show that the War on Drugs has not attained its objectives becauseRead More War on Drugs is a Dismal Failure Essay2868 Words   |  12 Pagesthe House recently approved a bill that included $1.7 billion to combat the drug cartels of Columbia with additional military aid.   In doing so, they perpetuated what could be one of the United States most misguided policies of recent history. At least some Republicans can give themselves a pat on the back for attempting to remove the Columbian aid from the $13 billion foreign aid bill.   Unfortunately, todays drug war is largely a Reagan-era Republican creation, so intoxicating that even theRead MoreThe War On Drugs Has Been A Well Intentioned Failure Essay1689 Words   |  7 PagesThe war on drugs has been a well-intentioned failure. The world’s desire was to keep people away from dangerous substances and to eliminate the violent practices of the drug producers and distributors. Instead of the war on drugs achieving its objectives of eliminating violent crime and reducing a number of people were taking drugs, the war has mainly just resulted in a dramatic increase prison population with little effect on the supply side of this illegal industry. Statistics collected by theRead MoreEssay about Success and Failure in the US-Mexico War on Drugs2866 Words   |  12 Pages Illegal narcotic drugs represen t a $60 billion market in the U.S., and this year alone the State and Federal governments will each spend roughly $20 billion in attempting to stifle this market. The amount of money involved in the drug trade, substantially inflated due to prohibition, makes both systemic corruption and violence inevitable. The illegal drug trade is a sophisticated international network, and while no nation’s involvement is limited to one economic function, one relationshipRead MoreAmerica s War On Drugs1539 Words   |  7 Pages On June 17th, 1971, President Richard Nixon declared drug abuse to be â€Å"America’s Public Enemy #1† in a press conference in which he called for an â€Å"all out offensive† against this enemy, an initiative that would later be known as America’s War on Drugs. By giving this speech, thus starting â€Å"The War on Drugs,† President Nixon created what would eventually become one of the most catastrophic failures in United State s political history. Analysis of the historical events surrounding Nixon’s declarationRead MoreHow Successful Is The War On Drugs? Essay1001 Words   |  5 PagesThe war on drugs has maintained an accumulation of prohibitions on illegal drugs and mandatory minimum sentencing strategies for drug offenders. Incarceration rates have also increased due to the increase of laws against illegal drugs. In Eugene Jarecki’s film, The House I Live In, Jarecki states that the penalties for crack users were harsher than penalties for regular cocaine users. This suggests that penalties are more of a double standard theory. The â€Å"War on Drugs† is more of a failure that placesRead MoreThe Flawed Drug Policy of America1691 Words   |  7 PagesAmericas Flawed Drug Policy Introduction: As a major policy issue in the United States, the War on Drugs has been one of the most monumental failures on modern record. At a cost of billions of taxpayer dollars, thousands of lives lost and many thousands of others ruined by untreated addiction or incarceration, Americas policy orientation concerning drug laws is due for reconsideration. Indeed, the very philosophical orientation of the War on Drugs and of the current drug policy in the UnitedRead MoreThe War On Drugs And Drugs1486 Words   |  6 PagesThe War on Drugs Despite an estimated $1 trillion spent by the United States on the â€Å"War on Drugs†, statistics from the US Department of Justice (2010) has confirmed that the usage of drugs has not changed over the past 10 years. Approximately $350 billion is spent per year on the â€Å"war on drugs†, only $7 billion is spent on prevention programs by the federal government. The war on drugs is more heavily focused on how to control crime, instead of how to prevent it. Not only is the war on drugs costlyRead MoreThe War on Drugs Essay1507 Words   |  7 PagesDespite an estimated $1 trillion spent by the United States on the â€Å"War on Drugs†, statistics from the US Department of Justice (2010) has confirmed that the usage of drugs has not changed over the past 10 years. Approximately $350 billion is spent per year on the â€Å"war on drugs†, only $7 billion is spent on prevention programs by the federal government. The war on drugs is more heavily focused on how t o fight crime, instead of how to prevent it. Crime prevention methods may not be immediate, butRead MoreThe House I Live By Eugene Jarecki989 Words   |  4 Pagesa 1971 press conference, which the press immediately designates the â€Å"war on drugs†. The House I Live In is a superb film detailing Eugene Jarecki’s journey on an in-depth and all-encompassing view of the war on drugs, and the immense destruction left in its wake. It is necessary to gain a better understanding of how the war on drugs is significant to a 40-year class based destruction, failure of existing drug policies and drug elimination, and the ways fear plays a starring role in the genesis of

Parent Student Letter re Exams Jan Free Essays

New Horizons classes will resume on a regular schedule during the Hampton City Schools exam week. Students will therefore be excused from New Horizons classes when they have exams at Hampton High School, but the student needs to share that with the New Horizons teacher in advance. Students may attend New Horizons when they do not have exams at Hampton High School. We will write a custom essay sample on Parent Student Letter re Exams Jan or any similar topic only for you Order Now Please avoid scheduling dental and medical appointments during the exam period. If illness or some other emergency arises, which prevents a student from being in attendance for a scheduled exam, parents/guardians must communicate with the appropriate teacher(s) to reschedule. If justification for missing an exam cannot be validated and/or no communication occurs between the parent and the school, the student shall be considered unexcused and will receive a â€Å"O† for the semester exam, regardless of the class average. The Attendance Office may be reached at 896-5882 for emergencies during the exam period. If a student arrives with an unexcused tardy to an exam period, he/she may have the remaining time to complete the exam, however additional time will not be provided. If a student arrives with an excused tardy, the teacher may offer additional time prior to the completion of the exam week so that the student has the full 2 hours as needed. Transportation will be the student’s responsibility. Monday, Jan aura 26th, and Tuesday, January 27th, will be Teacher Workdays. Students will not report on either day. The second semester will begin on a RED Day on January 28th. All 1st block class locations will be posted on the walls. Students may have different courses, teachers or room locations. Students will receive complete 2nd semester schedules from their 1st block teachers. We hope this information helps you prepare for the culmination of the 1st semester of the 2014-2015 school year. We wish all of our students success on their exams. Sincerely, The Hampton High School Administrative Team How to cite Parent Student Letter re Exams Jan, Essays

Financial Accounting Introduction Concepts â€Myassignmenthelp.Com

Question: Discuss About The Financial Accounting Introduction Concepts? Answer: Introducation Wesfarmers is the largest retrial company listed on Australian stock exchange that was originated in year 1914. The business operations of organization is diverse that involves hotel and convenience stores, supermarkets, liquor, office supplies, home improvement, energy and fertilizers, chemicals, industrial division in office supplies, coal and safety products. The primary objective of organization is to create wealth for shareholders and provide them with satisfactory return. Openness, accountability, integrity and boldness are the core values of organization. Wesfarmers is the largest private sector employing 220000 employees and has a shareholder base of 530000 (wesfarmers.com.au 2017). The positioning of business would help organization in improving their range, service and value along with growth achievement. Group concentrates on improving operational efficiency and in this regard, the outlook seems to be challenging in short-term. Performance of group has been offset by chall enging trade conditions and restructuring activities of one of its group that is Target. Wesfarmers have continued to deliver long-term growth and improved return to shareholders by continuing making investment in customer value, service, online stores and merchandize ranges so that they are able to sustaining the competitive environment. The performances of industrial division have been significantly affected by depressed conditions across retail sector. Earning of respective divisions has declined considerably (Reeve et al. 2014). Organization has good corporate governance, excellent employees and their business portfolio has helped in generating cash over time. Brief summary of directors report: The managing director of Wesfarmers group is Richard Goyder AO and Rob Scott is managing ditector of Wesfarmers industrials in year 2015. Guy Russo joined group as managing director of Kmart and John Durkan was appointeds as managing director of Coles in year 2014. Director report incorporates indemnification and insurance of directors and officers, remuneration of directors and other officers, significant changes in state of affairs and reviewing of operations and results. It involves discussion about corporate governance, environmental performance and regulations, auditors declaration to directors of Wesfarmers limited. The organization has entered into deeds of Insurance indemnity and access with each of directors in accordance with constitution of company (Hoskin et al. 2014). Premium has been paid by group in respect of contracts insuring officers and directors and against certain liabilities that are incurred in capacity. Report also discusses about the remuneration that is paid to senior executives and directors and policies that determines the amount and nature of remuneration payable. Some of significant changes in the state of affairs of group are discussed in directors report and they involve: There has been increase in revenue generated from ordinary activities to $ 65981 million from $ 62447 million. Total value of shareholders equity decreased to $ 22949 million as compared to $ 24781 million in last year to $ 65981 million Fall or decline in net cash from operating activities to $3365 million from $ 3791 million. Value of total assets increased to $ 40783 million from $ 40402 million (com.au 2017). Profit of group has declined significantly to $ 407 million as against $ 2440 million that reduced the dividend that is paid to shareholders. Dividend per share in year 2015 stood at $ 2 cents per share in financial year 2015 as against $ 1.86 in year 2016. Ernst and Young is the auditor of company that has also provide non audited services to consolidated entity of group and they make provision of services. Report also incorporates discussion about company secretary and it depicts that Lenda Kenyon was appointed as secretary of company in year 2002. They are member of leadership team of Wesfarmers and company secretary of number of subsidiaries of group. As legal counsel, Lenda join Wesfarmers in year 1987. The declaration of auditors to the directors of Wesfarmers is provided in directors report that discloses that there have been no contraventions regarding applicable and professional code of conduct while carrying audit (Weil et al. 2013). Moreover, it also depicts that there is no contraventions of the requirement of Corporation act of auditors independence. Brief summary of auditors report: The auditor of Wesfarmers is Ernst and Young that provided non audited services to the consolidated entity of group as well. Audit report incorporates report on financial report, responsibility of auditors, responsibility of directors to the financial report, report on remuneration report and their opinion. All the financial statements involving consolidated balance sheet, consolidated income statement, consolidated statement of changes in equity, consolidated statement of comprehensive income and consolidate cash flow statement have been audited by auditors. Moreover, they have also audited notes to financial statements and all explanatory information from time to time or at the end of financial year. Responsibility of director to express an opinion on financial statements based on audit and audit has been conducted by auditors according to auditing standards of Australia. Audit plan and management have complied with ethical requirements and indicating that financial statements are free from any material misstatement by obtaining reasonable assurances (Otley and Emmanuel 2013). Analyzing the financial health of Wesfarmers limited: As depicted from annual report of Wesfarmers limited that there has been increase in value of sales in financial year 2016. Net sales for year 2016 were recorded at $ 65981 million as against $ 62447 million in year 2015. Revenue from departmental stores increased up to $ 8. 6 billion. Some of subsidiary of Wesfarmers group such as Coles Express has recorded higher volume of sales due to lower fuel price and lower fuel volume (wesfarmers.com.au 2017). Sales of convenience store have also increased due to compelling value offering that continuously resonated with customers. Earnings before interest and taxes were improved due to productivity gains, good trading and disciplines of operating costs (Kemp and Waybright 2016). Across all the areas of business, group experienced growth in value of sales. The net cash flow from operating activities witnessed decline in year 2016. Value of net cash flows from operating activities was recorded at $ 3791 million in financial year 2015 as against $ 3365 million in year 2016 respectively. This indicates that operating cash flow has reduced by 11.2% or reduced by $ 426 million. Fall in net operating cash flow reflects that across retail portfolio there has been higher working capital investments. Moreover, this decline was also attributable to initiatives taken fir improvement in availability of stocks. As observed from the figures provided in consolidated balance sheet of group, there has been reduction in value of retained earnings. Retained earnings stood at $ 2742 million in year 2015 as compared to $ 874 million in year 2016. Wesfarmers has interest bearing loan and borrowing and the amount of loan borrowed has increased in year 2016. The value of borrowings and interest bearing loan has increased from $4615 million in year 2015 to $ 5617 billion in year 2016 respectively. However, no loans were made by group in year 2016 between the management and key personnel and any other related parties. Amount of borrowing and loans is initially recognized at fair value by deducting transaction costs that is measured at amortized cost subsequently using the effective method of interest rate (Maynard 2017). Evaluating the financial health of Wesfarmers limited using ratio analysis: Profitability ratios: Years 2016 2015 2014 Net Profit Margin 0.62% 3.91% 4.47% Return on Assets 1.62 1.55 1.51 Return on Equity 1.71% 9.61% 10.34% The profitability position of group has been evaluated by calculating net profit margin, return on assets and return on equity generated. It can be depicted from above table that there has been decline in net profit margin of group from 4.47% in year 2014 to 3.91% in year 2016 and further to 0.62% in year 2016 respectively. Return on assets have improved from 1.55 in year 2015 to 1.62 in year 2016 that indicates that assets have been utilized efficiently. Considerable decline is witnessed in return from equity from 10.34% in year 2014 to 1.71% in year 2016. It is indicative of the fact that organizations ability to generate profit from shareholders investment has reduced (Crawley and Wahlen 2014). Liquidity ratios: Liquidity position is analyzed by calculating current and quick ratio. Current Ratio 0.93 0.93 1.13 Quick Ratio 0.33 0.37 0.48 Cash flow from operations to current liabilities 0.3228127 0.38977997 0.392028 Current ratio has remained constant at 0.93 for two consecutive years; however it has declined from 1.13 in year 2014 that reflect that liquidity position has not improved. Cash flow ratio has also fallen by some points. This depicts that Wesfarmers management has not been efficient in utilizing their current assets for paying off their short-term obligations (Hoskin et al. 2014). Efficiency ratios: Accounts Receivable Turnover Ratio 21.34 20.49 15.33 Inventory Turnover Ratio 7.27 7.83 7.76 Asset turnover ratio 0.271398326 0.08596139 0.059096 Accounts receivable ratio has increased from 15.33 in year 2014 to 21.34 in year 2016 that indicates that receivables are collected more frequently that is good for business. Inventory turnover, on other hand has reduced by fewer points from 7.83 in year 2015 to 7.27 in year 2016 respectively. It reflects that inventories are converted into sales at regular intervals. Asset turnover ratio has increased from 0.08 in year 2-015 to 0.27 in year 2016 that indicates that organization has efficiently utilized assets for profit generation (Spieceland et al. 2013). Therefore, it can be said that overall efficiency of organization has improved in recent years. Leverage ratios: Leverage position of organization is analyzed by calculating debt to total assets, debt to equity and capital structure leverage Debt to Equity Ratio 0.32 0.26 0.194905 Capital Structure Leverage 1.29 1.59 1.891339 Debt to total assets 0.43729 0.386639 0.34586 Debt to equity ratio has increased from 0.19 in year 2014 to 0.32 in year 2016 that reflects that proportion of dent to total value of equity has increased. It depicts increased dependence of Wesfarmers on loan and borrowings. Debt to total assets has increased to 0.43 in year 2016 compared to 0.38 in year 2015. Organization for financing assets is making use of borrowed capital that is not regarded as good sign. Capital structure leverage has reduced considerably from 1.89 in year 2014 to 1.29 in year 2016. It reflects that proportion of debt to total value of capital has declined. References: Crawley, M. and Wahlen, J., 2014. Analytics in empirical/archival financial accounting research. 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