Thursday, October 31, 2019
Reading response Essay Example | Topics and Well Written Essays - 500 words - 31
Reading response - Essay Example The criticism and the deep analysis of the subversive black comedy that follows increases my knowledge and confirms my desire to follow up the art further. It further reminded me of an instance some years back when a colleague was greatly against my choice of favorite African art and drama. I was however on the verge of losing the argument. This was simply because even though I felt that the art was my favorite, I did not have any facts or historical information about it. Her opinion challenged me to research and discover my field to some length. This meant that the next time a similar argument arose, I was ready to challenge her back and convince her of my stand and opinion as not far-fetched. The mention of a number of artists who were the origin and the founders of the subversive black comedy creates in me a perception that the author is indeed an authority in the field. It amazes me how the author clinically articulates and relates the reasons for the origin of the art and its progress to the perception that it creates among people and how most misinformed people today perceive it negative. It is particularly satisfying to me when the author analytically brings out the relationship between the controversial novel, â€Å"Black no More†by George Schuyler with the African American comedy development. The flashback to the times and actions of artists and comedians such as Gregory, who in my own opinion was properly using humor to communicate the evils of racial segregation in America, is very satisfying. Humor, as noted from the reading is an easier way of communicating issues that seem rather painful without having to create the pain. Looking more closely at the reading, therefore, I believe that there are a number of observation that make the reading worth the space and time. First, the author’s command of art and historical perspective of Subversive Black Comedy is amazing. It is
Tuesday, October 29, 2019
Unilever AxeDove controversy Case Study Example | Topics and Well Written Essays - 2000 words
Unilever AxeDove controversy - Case Study Example Unilever AxeDove controversy The company has a large work force of more than 180,000 people in the world with revenue of more that US$58 billion. The company was established from Roternd and London companies which also act as the mother companies for all other branches in the world. Recently the company has been engulfed in one of the most heated controversy in the history of business world arising from its advertisement. The company has been engaged in a various criticisms before but the recent one seems to have attracted the attention of unlikely quarters from politicians to the human reign activists. It has become a subject to social conversation all over the world due to its mode of advertisement. There have been many blogs in the internet that have been used against the company and its advertisement strategy especially the recent one Axe/dove advertisement which has attracted most criticism even before they make their impact on the market. The market of the two brands Axe and Dove have attracted the advocacy groups who have been campaigning for the need to have commercial-free childhood advertisements. The dove product advertisement has been used as a marketing strategy that is said to be promoting real beauty. In the advertisement there is a dove that is promising the girls a good care if they use the products. In this regard no one can understand how a dove can promise the girl a good care. The company has however described the advertisement as showing the need to have real beauty rather than acting as an advisement to encourage girls to use the products and has therefore started a campaign that is aimed at funning projects for girl child. But this is contradicted by another advertisement of its products Axe deodorant which has been described as having an effect of 'epitomizing the sexist and degrading making that has been undermining girls'. This has been shone to be a potential harm to the health development of grid as contradicted to the other advertisement of the Dove which promotes health self-image for all women. (Newman, 2007) The company has been on the defense saying that the Dove brand is meant to show women the need of feel beautiful always which has been expressed by wide way in the today's stereotyping of beauty and it is meant to inspire women to be taking car of them. For this reason the company has created Dove Self-Esteem Fund that is meant to educate and act as inspiration to girls. On the other hand the Axe campaign shows 'the mating game' and expressed the desire of men to get noticed by women. (High, 2007) The above advertisement has been casusign a lot of criticisms for the company not only from the civil activists but also from political arena. It has been descried as the higher hypocrisy in marketing and there have been threat of taking of civil action by not allowing the Dove Fund to take seminars to school unless the Axe advertisement is changed. Let us analyze the effect of the advertisemen
Sunday, October 27, 2019
The Importance of Socio dramatic Play
The Importance of Socio dramatic Play Much of our understanding of the value of play has originated from Piaget (1962) and Vygotsky (1978), who focused on the role of play in childrens development. They saw children as active explorers of their world. With each new encounter or interaction, children were able to discover new meanings, and thus developed more complex understandings and skills. Play is therefore, an important part of the process of constructing knowledge. It enables children to control what happens and to use what they already know to further their understanding and development. Socio-dramatic play is one of the most important forms of play (Smilansky Shefatya, 1992). Play experiences support children to be active participants in developing and strengthening their character, finding their own voice in compromising with others or directing their play ideas. When engaging in pretend play, children use fantasy, make-believe, and symbolic behavior in representing one object as another (Kaugers Ross 2009). Pla y is a skill worth practicing and mastering not, as adults often seem to think of it, a mere time filler or something to do outside to blow off steam. Mastering play is as important as mastering oral or written language. All these modes of symbolic representation enable human beings to remember manage, plan, and communicate with each other (Reynolds Jones 1997). The term play is often used but loosely defined. For the purpose of this paper when speaking of play the kind of play that will be discussed will be socio-dramatic play (Smilanskiy 1968). This type of play,also called dramatic, imaginative, or pretend play, can occur with peers, adults, or both. Characteristics of socio-dramatic play include make-believe that involves roles, objects, and situations; and includes language and social interaction. The social aspect distinguishes socio-dramatic play from dramatic play because children can and do pretend during solitary play. Socio-dramatic play may also occur in combination with constructive play in early childhood classrooms. Much of what we currently know about sociodramatic play started with Vygotskys research. Vygotsky saw play as the leading behavior in childrens development. In Vygotskys theory, children play beyond their years (Bodrova Leong, 2005). The play has several elements to it. First, the play must include an imaginary element, second, involved children must have assigned role(s) with implicit rules, and finally, language must be involved. (Smilansky Shefatya, 1992). The Role of Teachers in Childrens Play Because children are the active participant they have autonomy over their play and this is one of the most empowering experiences a child can have (Canning, 2007). The adults in the childs world play an integral role. Children want support in practical difficulties, but also want to be seen as important and competent individuals (Pramling, Samuelsson, Johansson 2009). Children want to know when they are doing the right things and want to appear in a favorable light to their teachers and other adults by informing them when peers break rules. By this the children also confirm the teachers, in the sense that they are to be trusted, they know how things should be and they have power and knowledge to mediate. The role of the teacher in play is complex and can involve a directive, non-directive, and/or elaborative role. Howard, Jenvey, and Hill (2006) indicated that higher levels of teacher verbalization can reduce play behavior. Similarly, Tamburrini (1982) suggested that re-direction dev alued play as a learning activity whereas elaborative interaction facilitated play behavior. Play activities tend to occur more frequently between children rather than with teachers (Canning, 2007). Piagets clinical observations supported educators discoveries that children construct knowledge for themselves through spontaneous activity. Through the play experiences teachers provide; children acquire rules, imitate reality, and socialize with their peers (Piaget, 1962). So then in the early years for many teaching is based on observation. Teachers dont however just watch and sit idly by. They also make play possible. The play they make possible is rich, complex, and thoughtfully-planned. Socio-dramatic play provides an excellent context for children to develop and practice many important skills and behaviors that contribute to later success in school and life. As play matures, there is a progressive transition from reactive to and impulsive behaviors to behaviors that are more delib erate and thoughtful (Bodrova Leong, 2005). Teachers need to know how to observe play, helping children grow into master players. Like every stage of development, play does not occur automatically, it needs nurturing from a capable adult. Children must learn how to engage in satisfying socio-dramatic play and teachers must take responsibility for setting up their environment and assisting the play by taking on the role of observer, stage-manager, and co- player (Bredekamp 2005). Within research, play has been analyzed in numerous studies. The purpose of this study will be to examine the role of the teachers involvement during play. Specifically can a teacher or another trained adult improve socio-dramatic play to improve other cognitive and socio-emotional abilities? In order to examine this, the following questions need to be explored: What is the level of socio-dramatic play in the classroom? How is the teacher involved? What obstacles hinder progress? Method Participants and Setting Dependent Variable Independent Variable Experimental Design and Procedures
Friday, October 25, 2019
Thomas Jefferson :: History Historical Jefferson Essays
Thomas Jefferson â€Å"Thomas Jefferson still survives,†John Adams’ last words most definitely stand true, even today. Thomas Jefferson was a well-educated man with a wealthy and proper British-American upbringing. An excellent education was the beginning step to all the wonderful things Jefferson would do for our country. After college, he became a lawyer, and soon a member of the House of Burgesses. An intelligent writer and thinker, Jefferson, along with four others, was chosen to write the Declaration of Independence. Filled with Thomas Jefferson’s great ideas, the Declaration of Independence greatly influenced the Constitution.      After the Declaration of Independence was written, a fire sparked in the hearts of the Americans who had suffered from the King of England’s oppressive governing. A course of action had finally been taken against the King. New ideas spread regarding â€Å"life, liberty, and the pursuit of happiness.†The young nation’s hope of freedom was now becoming more of a reality than a dream.      In the years following, a Constitutional Convention was held in order to â€Å"form a more perfect union.†Models for the constitution consisted of forms of government such as the Magna Carta, which limited power of the king or government figure, and the Declaration of Independence. Ideas taken from the Declaration and Thomas Jefferson included points such as â€Å"We hold these truths to be self evident: that all men are created equal; that they are endowed by their Creator with certain inalienable rights, among these are life†¦Ã¢â‚¬ . By mentioning the truths that are self evident, Jefferson lets the colonists know that they do indeed have rights. The Declaration was used as a model for the Constitution, through its focus on equal rights, to remind us that all men are created equal, and should be treated with the basic respect human beings deserves, along with the right to choose our destiny.      Today, we know America as a nation of peace and refuge from the other tyrannous governments of the world. Once, our nation, as American colonies, experienced these same tyrannous behaviors from the distant King of England. Thomas Jefferson doesn’t hold back when mentioning the King’s unjust actions. As stated in the Declaration of Independence, †¦to a jurisdiction foreign to our constitution and unacknowledged by our laws , giving his assent to their acts of pretended legislation for quartering large bodies of armed troops among us, for protecting them by a mock trial for punishment†¦for cutting
Thursday, October 24, 2019
Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports Essay
Investment Appraisal Introduction Question 1            An investment appraisal is a planning process that is utilized in determining the preparedness of a business to undertake a long term investments such as expansion, developing a new project, acquiring new machinery among others (Les Dlabay, 2007). This is a complex process that requires the analysis of sources of finance, their implications, budgeting and financial statements. Sources of finance            Coca-cola which is the world leading non-alcoholic beverage company marketing their products in over 200 countries worldwide have the god foundation of assets, shares, short term liabilities, long-term loans and goodwill as its source of finance.            The assets of the company form the major source of its finances accounting for $ 57,751 million in 2013 and $ 55,849 million in 2012 (The Coca-Cola Company, 2013). These include tangible and non-tangible assets such as property, plants, equipment, equity method investments and goodwill. This can be summarized as shown in the table below. ASSETS (In millions) 2013 $ 2012 $ Equity method investments 10,393 9,216 Investment in bottling companies 1,119 1,232 Other Assets 4,661 3,585 Property, Plant and Equipment 14,967 14,476 Trademarks with indefinite lives 6,744 6,527 Bottles franchise rights with indefinite life 6,415 7,408 Goodwill 12,312 12,255 Other intangible assets 1,140 1,150 TOTAL ASSETS 57,751 55,849            Long term and short term liabilities are another source of finance for the company. The company’s total long term liabilities in the year 2013 were $ 90,055 million and $ 86,174 million in 2012 (The Coca-Cola Company, 2013). Their long term external sources of finance include debts, deferred income taxes and the company’s share owners as contained in the table below. LONG TERM LIABILITIES (In millions) 2013 $ 2012 $ Long term debts 19,154 14,736 Other liabilities 3,498 5,468 Deferred income taxes 6,152 4,981 TOTAL ASSETS LONG TERM LIABILITIES 90,055 86,174            Important company activities that generate profits that are ploughed back to the business as a source of finance include investments and new ventures. These are proceeds from the investments, acquisition of other businesses, equity method investments, non-marketable securities, purchase and sale of property, plants and equipment and their associated proceeds. In 2013, the company realized a total of $ 10, 414 from the investment and operating activities as per their 2013 annual report.            Internal short term sources of finance for the company are the current assets of cash and cash-equivalents such as marketable securities, inventories, current assets held for sale and the proceeds from the short term investment. Their balance sheet as at December 31, 2013 shows a total of $ 17, 121 million current assets. Implications of the sources            However much the company had good financial sources in its assets, liabilities and shares, each of the sources may impact negatively or positively to the business. The straight forward implication of liabilities especially loans is the interest rates and the obligation to repay them in good time. Failure to settle the debts and loans may lead to imposition of fines and penalization. The creditors may go to the extent of stopping to supply the company with goods and services on credit and demand for cash on delivery.            Use of shareholding as a source of finance for the company may also have its own positive and negative implications. Shareholders are like investors in the business and therefore they must be paid their returns as dividends (Fardon, 2003). This might be very difficult in cases where the company makes losses. Sometimes, especially in a scenario where there are no strict policies on the maximum percentage share that a shareholder can buy, the ownership of the company may be transferred to a shareholder that buys majority of the Company shares. Question 2 Importance of financial planning            Finance is the driving force for a company like Coca-cola. After its financial sources have been identified, accurate financial planning is necessary for its success. Financial planning is the foundation from which all successful businesses are built. Running on a clear financial plan ensures that a company is well prepared to meet its anticipated expenses in terms of payroll, transport, communication any other day to day business operation expenses.            The plan is important when the company is at the extremes of either profit making or suffering losses. It provides a stepping stone in which the company can forge a way forward and plan for the future while at the same time handle the present. A good financial plan finds it usefulness when a company is preparing to deal with rising costs and increasing current and long term liabilities. It allows for these conditions to be anticipated early enough so as deal with them when they arise.            Additionally, a financial plan is a critical tool in the organization of the various departments within the company. A well prepared and revised financial plan that considers every quarter of the company is of valuable contribution to the smooth running of the company as a whole. Lastly, an estimate of earnings can be done through a financial plan. Lack of these estimates sets a trap that the company might fall in due embezzlement of funds and misappropriations. A financial plan is very effective in making investments and profits into diversified portfolios within the company.            The process of making decisions requires the company directors to be provided with the necessary information. These include financial reports that contain details of business transactions, profits, losses, expenses, revenues, assets and liabilities. This allows for comparison of business performance in the previous financial year. The departmental estimates of expenditures and their estimated sources of revenue are also part of this information.            The factors that may affect the choices of decisions makers during financial planning are the number and wages of employees, available cash at hand and cash required to pay suppliers on time and to buy current assets such as equipment and stationeries. The possibility of expanding the business is also considered when such decisions are made (M. P. Narayanan, 2004). Appropriateness of the sources of finance for a business project            In order to manage the financial sources and make appropriate decisions, it is important that the directors analyze the costs of the sources, for example, the cost to be incurred to obtain the finance such as fees payable to the financial institutions, commissions and interests, stock brokers among others. In the Coca-Cola Company where the major sources are the fixed assets, liabilities, ploughed back profits, profits from investments and current assets, the appropriateness of the sources depend on the ability of the finances to run a business investment. Bank loans are the major long term source of finance for many companies. This source is very appropriate for Coca-Cola Company. The repayment is spread over a long period of time. The company is financially stable and can easily afford the required securities to acquire a loan. Although the interest rates may be higher making the process expensive, the merits outweigh the demerits and th e risk is worth taking.            Coca-cola is a limited company and therefore the use of stock shares as a source of finance is appropriate. The finances are not repaid although the profit is shared among the shareholders as dividends. The capacity of this company to make profit is unquestionable. The risk of change in company ownership due to sale of major shares can be regulated by business policies that restrict such sales. Moreover, sale of assets such as the current assets to raise capital is appropriate for this company. The surplus assets can be sold off and the proceeds retained to run the business. There is little, if any, risk associated with sale of surplus assets. Impact of finance and financial statements            Finance and financial statements have positive and negative effects to the business depending on the financial position of the company. Financial statements form the basis from which shareholders and potential investors evaluate the performance of the business. The statements also regulate accountability in the running of the business.            The financial position of the business is portrayed in the financial statements. It used by the company to acquire loans from banks. Financial statements that directly indicate instability of a business have a negative impact to the business by blocking potential investors, creditors and banks. Finance and financial statements have a direct effect on business transactions. It gives detailed information about the lag phases and peaks of a business. Such details include fluctuations in prices in comparison to competitors in the market (Ittelson, 2009). If, for example, Coca-Cola Company increased the prices of their beverages by 1%, their immediate competitor Pepsi may have an upper hand in the market.            A balance sheet gives information on the resources that the business has against its liabilities and the capacity of the business to settle its debts. Cash flow statements are important in informing the public about the money entering and leaving the business. All of these can negatively or positively influence the customers, suppliers, creditors and potential investors. Financial statements have a direct impact on the stock price. The information in the statements can be used by business managers to either increase or decrease the price of products. Main financial statements            In designing investment options and identifying their appropriateness, it is important to prepare financial statements. These statements have different formats depending on the size and type of the business. The statements are; balance sheets, cash flow statements and income statements. A balance sheet is a financial statement that reports a company’s assets, liabilities and stock holders’ equity in a given financial period. Current assets, fixed assets and investments are balanced against liabilities and stock holders’ equity. A balance sheet for Coca-Cola Company as at 31st December, 2013 is as follows (The Coca-Cola Company, 2013). THE COCA-COLA COMPANY CONSOLIDATED BALANCE SHEET AS AT 31ST DECEMBER, 2013. ASSETTS(In Millions) Currentassets $ Cash and cash equivalents10,414 Short term investments 6,707 Total cash, cash equivalents and short term investment17,121 Marketable securities3,147 Trade accounts receivable less allowances of $ 614,873 Inventories3,277 Prepaid expenses and other assets2,886 Total current assets31,304 Fixed assets Equity method investments10,393 Other investments principally bottling companies1,119 Other assets4,661 Property, plant and equipment –net14,927 Trademarks with indefinite lives6,744 Goodwill12,312 Other intangible assets1,140 TOTAL ASSETS90,055 LIABILITIES AND EQUITY(In Millions) Current liabilities $ Accounts payable and accrued expenses9,577 Loans and notes payable16,901 Current maturities of long term debt1,024 Accrued income taxes 309 Total current liabilities27,811 Long term debts19,154 Other long term liabilities 3,498 Shareholders’ equity –total33,440 TOTAL LIABILITIES AND EQUITY90.055            The balance sheet is similar regardless of the size and type of the business. Its format does not change. Cash flow statements are prepared to assess the company’s earnings and expenses. The quality of the earnings is determined by comparing the cash flow from operating activities with the company’s net income (R, 2003).            Income statements are financial documents that show the sources of income in a business organization. Coca-cola Company had the following statement of comprehensive income as at December 31, 2013. THE COCA-COLA COMPANY CONSOLIDATEDSTATEMENT OF COMPREHENSIVE INCOME AS AT 31ST DECEMBER, 2013. $ (In Millions) CONSOLIDATED NET INCOME8,626 OTHER COMPREHENSIVE INCOME Net foreign currency translation adjustment(1,187) Net gain (loss) available for sale of securities (80) Net gain (loss) on derivatives 151 Net change in pension and other benefit liabilities1,066 TOTAL COMPREHENSIVE INCOME8,576 Less comprehensive income loss attributed to interests 39 TOTAL COMPREHENSIVE INCOME ATTRIBUTED TO SHAREHOLDERS OF THE COMPANY8,537 Note: Figures in brackets indicate losses or reductions Interpretation of the financial statements            Financial statements are usually prepared and interpreted towards the end of a financial year to give information about the business financial stability. The above financial statements can be interpreted by using appropriate financial ratios to help compare them with the performance during the previous financial year or with another company. These ratios derived from a balance sheet are working capital, current ratio, Quick ratio (Pamela Peterson Drake, 2012).            Financial statements provide rich information to investors and suppliers. This information are used to evaluate the performance of the company. The statements are also used as a communication tool by managers to interested parties about their achievement in the management of the company. There are different financial statements as discussed above that give unique business information on the company.            Financial conditions of a company are the major detail and a point of concern for several potential investors. Investors are the major capital providers. They rely on the information contained in the balance sheet, income statements and cash flow statements for their safety and certainty regarding a potential investment into a company. It enables the investors to understand their position in the company’s capital regimen.            The balance sheet is considered the snap shot of a company’s assets in comparison to liabilities and shareholders’ equity. This is considered the operating result of the company. These results are also an area of concern to investors. Income statement gives a report of operating results. This includes the sales, expenses and profit or losses in a given financial year. This information is critical in the evaluation of the company’s past performances and to predict the future of the business. Profits or losses are usually provided by the income statement but this may contain non cash-equivalent or non-cash parameters. The information is not direct as to the company’s cash transaction during the financial year. This leaves room for cash flow statements to give the details. It contains information about the cash that get into the business and those that leave the business thereby showing an exchange of cash. Shareho lders’ equity shows the variations in the various equity components. This is usually calculated by deducting total liabilities from the total assets of the company. A company with a good performance like Coca-Cola has a steady increase in its shareholders’ equity. This is associated with either a decreasing or constant shareholders base.            Working capital is calculated by deducting current liabilities from the current assets. The working capital for Coca-Cola Company for the year ended December 31, 2013 can be calculated as follows. Working Capital (in millions) =Current assets – Current liabilities. = $ 31,304- $ 27,811 = $3,493            The working capital for Coca-Cola Company is a positive figure of $ 3,493 million indicating that the company is at a better position to meet its current obligations such as paying workers, paying brokers, servicing short term loans among others.            Current ratio is calculated by dividing the current assets by the current liabilities. It is related to the working capital. Another ratio is Quick ratio. It is also known as acid test ratio and is calculated as follows; Quick ratio = Cash + Temporary investment + Accounts receivable Current liabilities            The Quick ratio is similar to the current ratio only that inventories, supplies and prepaid expenses are excluded. It is used to determine the amount of assets that can be turned quickly into cash.            Free or Discounted cash flow is a financial ratio that is derived from the cash flow statement. Free cash flow is calculated by deducting capital expenditures from total cash flow provided by operating activities (Fardon, 2003). Free cash flow for Coca-cola as at December 31, 2013 is calculated as shown. Free cash flow = Cash flow provided by the operating business – Capital expenditures. =10,542 – (14,782+2,550+303) = -7,093            This statistically indicates that the company is at a deficit of $ 7, 093 million after paying its capital expenditures.            The income statement can be analyzed to give gross margin, profit margin, Return on Stoke holders’ equity and earnings per share. Return on Stoke holders’ equity is important in revealing the percentage profit after taxation and therefore the dividends payable to shareholders. Return on stock holders’ equity for Coca-Cola Company as at December 31, 2013 is calculated as shown. Return on Stockholders’ equity = Net income after taxes Average shareholders’ equity = 8,622 8537 =1.01%            This reveals that the company earned 1.01% of profit after taxation on an average shareholders balance during the year. Suitable budget and appropriate decisions            The most significant form of planning a capital investment budget is to make appropriate decisions and market well. Budgeting is the foundation of financial economics. Making decisions that have importance long term effects is the basis of budgeting. In budgeting, policies are maximized so as to achieve the most positive net profit and returns. Making decisions should be principally governed by benefit analysis. The budgeting process is also governed by the future consequences and impact to the business            Every financial source has an implication to the business. Financial statements help provide such implications and can be used in selecting a suitable budget. A company may decide to sell its shares after analyzing its effectiveness in raising capital for a new business venture (Pamela P. Peterson, 2004). The process of deciding on a proper capital investment for the expansion of Coca-Cola Company involves calculating the cost of investment, protection of cash flow from the investment, consideration of the inflation rates and the time value of the expansion. For example, if the investment will cost $ 10 million and generates $ 4 million annually, the investment is feasible because it provides a pay back within 2.5 years. A budget can therefore be prepared from this basis.            An example of a suitable budget proposed for The Southeastern Pennsylvania Transportation Authority (SEPTA) for the Fiscal year 2012 is as follows (SEPTA, 2011) . FISCAL YEAR 2012 CAPITAL BUDGET Project FY 2012 Funding Requirement Bus Purchase Program $59,209,593 Capital Asset Lease Program 28,720,862 Congestion Relief 2,233,000 Debt Service 52,654,545 Infrastructure Safety Renewal Program 34,400,000 Paratransit Vehicle Acquisition 5,000,000 Regional Rail Signal System Modernization 35,800,000 Safety and Security Improvements 5,000,000 State of Good Repair Initiatives 15,200,000 Station Accessibility 4,800,000 Station and Parking Improvements Program 10,400,000 System Improvements Program 5,000,000 Vehicle Overhaul Program 53,100,000 TOTAL FY 2012 Capital Budge$311,518,000            Marketing decisions are dependent on capital budgeting. The decisions to be made on long term investments are dependent on the income that will be generated from the project. It is important to know the duration that the project will take to mature. That is, the time it will take to generate income equivalent to the amount invested in the business. Modern finance theories equate the value of the assets to the discounted future income generation. The net profit value rule is therefore used by companies that contemplate venturing unto capital project if they adopt this theory. Assessing project viability            The financial viability of a project is assessed using the investment appraisal techniques. This involves the use of tools such as Return on Investment (ROI), Debts Service Coverage Ratio (DSCR), Break Even Point (BEP) and Debt Equity Ratio (DER).            In Return on Investment, the collections of the company are used to create assets and in the running of the business. The business must generate surplus on the collected capital for it to be considered viable. Borrowed and own capital is considered the cost of the project while the profits are the surplus generated. ROI should be greater than the cost of the investment for the business to be considered viable.            Debt Service Coverage Ratio (DSCR) measures the ability of the project to meet its repayment obligations on loans acquired financial institutions (Pamela P. Peterson, 2004). It is calculated as follows. DSCR= Net profit + Interest on long term loans + Depreciation Interest on long term loan + Principal loan            The cumulative DSCR during the repayment period should be at least 2:1 for the project to be considered viable. Break Even Point (BEP) measures the level of total contribution to the total fixed assets. Contribution is usually the excess of sales over the variable cost. That is; Contribution = Sales – Variable Costs. PEP is the point where both fixed and variable costs are recovered from the resources. It is calculated using the formula; Total fixed costÃâ€" selling price per unit Contribution per unit cost            It indicates the risks involved in the business. If the PEP is achieved at a lower level of capacity utilization, it is considered safer. In this case, the investment is viable.            Debt Equity Ratio measures the level at which the investment project is leveraged to acquire loans from financial institutions. It is calculated by the formula; Total long term debts Total funds in the investment            The factors to be considered when assessing the viability of a project are the nature of the goods and services to be offered. Their level of complexity should be determined and the risks involved as well. The value of the procurement is another factor of concern. It involves the determination of the amount of capital that the procurement can cost. The financial viability assessment matrix group risks speculated into several levels. The low risk level contains low levels of complexity, low value and short term supplies. The moderate risk level contains moderate value, sensitivity and medium term supply. The high risk level contains high strategic importance to agency, high complexity levels and sensitivity. When assessing the risks, the likelihood of a financial feasibility should not be ruled out while making budgeting decisions. References Fardon, C. D. (2003). Management of Finance. New york: Osborne Books. Ittelson, T. R. (2009). Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports. New York: Career Press, Incorporated. Les Dlabay, J. B. (2007). Business Finance. Stamford: Cengage Learning. M. P. Narayanan, V. K. (2004). Finance for Strategic Decision-Making: What Non-Financial Managers Need to Know. New Jersy: John Wiley & Sons. Pamela P. Peterson, F. J. (2004). Capital Budgeting: Theory and Practice. New Jersey: John Wiley & Sons. Pamela Peterson Drake, F. J. (2012). Analysis of Financial Statements. New Jersey: John Wiley & Sons. R, D. J. (2003). Accounting for Non-Accounting Learners. New York: Pitman. SEPTA. (2011, Aril). The Southeastern Pennsylvania Transportation Authority. Retrieved April 2014, from Finance: http://www.septa.org/reports/pdf/budget-proposal-cb12.pdf The Coca-Cola Company. (2013, December). The Coca-Cola Journey. Retrieved April 2014, from Annual Financial Report: http://www.coca-colacompany.com/our-company/company-reports Source document
Wednesday, October 23, 2019
Jamestown and Plymouth Compare and Contrast
Jamestown and Plymouth By: Arrow Krueger United State History II Mr. TR Smith NPHS 24 October 12 Jamestown and Plymouth were two separate voyages set for America with different ideas and goals thought out for each. One of these voyages was coming to America so that they could have a better life for themselves, by making a permanent settlement where they could start their lives and their children’s lives again. The other was for economic reasons from a company in London that just wanted to obtain a larger market for manufactured goods coming from England.These voyages were improvements from what we knew of our world back in the 1400’s. Both voyages were varied a lot from one another but meet some of the same obstacles and likenesses. Each journey had things that set them back, and a lot of them weren’t even related to weather. One of the major setbacks was that a lot of people didn’t want to work. The work was very hard, they were starting a whole life new, and since they were, they would need to collect material for homes, if they didn’t have enough equipment for their work, they would have to start making tools which would tire them out fast.The work that they did ended up doing good for the settlers on both sides as a whole at least even if they were set back in the beginning of their time in the new world. The Jamestown voyage happened almost thirteen years before the Plymouth Voyage to America took place. In 1607, 104 men landed in what is now called Virginia. This journey was mostly for economic purposes from a company in London. The creators of the company wanted to expand English trade and obtain a wider market for English manufactured goods. They came on ships from England, and the names of the ships were the Susan Constant, Godspeed and Discovery.They became the first permanent English settlement in the new world now known as America. The Plymouth voyage took place in 1620 and there were 102 settlers that came on this journey. This voyage was for people from England that wanted a different sort of environment, with different people and laws. These people were in search of a better life for themselves and their families with fewer problems than when they were in England. The people no longer had to worry about how their personal beliefs differed from others, and they didn’t need to abide by the same rules as the government that they had in England.This voyage is the one which mainly shaped the world that we live in now, with laws and beliefs used and allowed even as far back as the 1600’s. Jamestown was situated in the lands of the Tsenacommacah nation of Algonquian Indians in the eastern part of Virginia. The chief of over two dozen tribes in the nation was called Powhatan by the settlers. The Indians had peace for many years before to the arrival of the English, and while they were careful around the new settlers, they did not fear them. Hostile Europeans who landed in North Ameri ca decades before 1607 were common knowledge among the Indians.Indians respected strength they believed Europeans had and were amazed by their weapons. Even so they tested the settler's strength whenever they could. Settlers sometime stole corn from the Indians and Indians sometime stole tools from the English. Such theft occasionally led to fighting back which ended in the loss of life on both sides. Plymouth was settled in the lands of the Wampanoag nation Algonquian Indians in southeastern Massachusetts. The chief of the Wampanoag was named Massasoit. Several years before the Pilgrim's landing the Wampanoag were ravaged by an epidemic.Even with their earlier epidemic, they also feared attack from the Tarrentine Indians which were north of them, and the Narragansetts that were west. Massasoit noticed some common interests he shared with the colonists. Massasoit’s nation needed protection from the other Indian tribes and the colonists needed supplies, and most importantly, k nowledge of how to survive in the wilderness. John Carver, who was the first governor of Plymouth, and Massasoit agreed to a peace treaty in 1621 in which they swore to come to each other's aid, protect each other from insurrection, and never to steal from each other.Tolerance the Pilgrims and Wampanoag showed each other and the peace they worked to maintain were unique in the 17th century. From time to time, each had to yield to the other to preserve peace and address concerns of their constituents, but owing to Bradford's and Massasoit's leadership, peace survived for over 40 years, well after the death of each man. Two examples illustrate this good relationship. Jamestown and Plymouth have a lot in common, like both having contact with the Native Americans, both coming from England, each voyage took place in a different year, and they both sailed to America.On the other hand, Jamestown and Plymouth had quite a bit of things that were different from each other for example, their r eason to leave England, and the amount of people who came on each voyage. Nevertheless both contributed greatly to present American heritage of law, custom, government, religion, and heritage. Therefore Jamestown and Plymouth were very important to modern America, and we wouldn’t be where we are today without these two groups.
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