Thursday, December 5, 2019
Question: Discuss about the Financial management Evaluation of Clustering Algorithms. Answer: Company Introduction In Australia Boral are the largest building and construction material suppliers. It is the largest suppliers of material in all the territories and states. In this, report an analysis is made about the operating activity of the company. Analysis of theFinancial Statement The financial statement of a company is prepared to reflect the performance and activity of the company. The financial statement is an indispensible part for calculating the financial ratios (Vogel 2014). The profit and loss and balance sheet of the company is given below: Income Statement of BORAL LTD Amount in Million Particulars 2015 2016 Revenue $4,298 $4,311 Cost of revenue $3,039 $2,927 Gross profit $1,258 $1,384 Operating expenses Sales, General and administrative $1,984 $1,122 Other operating expenses ($912) ($40) Total operating expenses $1,072 $1,082 Operating income $186 $302 Interest Expense $76 $71 Other income (expense) $179 $53 Income before taxes $288 $284 Provision for income taxes $45 $32 Net income from continuing operations $243 $252 Net income from discontinuing ops $14 $4 Other Net income $257 $256 Net income available to common shareholders $257 $256 Earnings per share Basic $1 $1 Diluted $1 $1 Weighted average shares outstanding Basic $209 $201 Diluted $212 $203 EBITDA $614 $602 Table 1: Income Statement (Source: created by Author) BORAL LTD Balance Sheet Amount in Million 2015-06 2016-06 Assets Current assets Cash Cash and cash equivalents $ 506 $ 452 Short-term investments $ 10 $ 19 Total cash $ 515 $ 471 Receivables $ 660 $ 624 Inventories $ 538 $ 557 Other current assets $ 28 $ 32 Total current assets $ 1,741 $ 1,684 Non-current assets Property, plant and equipment Gross property, plant and equipment $ 5,400 $ 5,576 Accumulated Depreciation $ (2,952) $ (3,059) Net property, plant and equipment $ 2,448 $ 2,517 Equity and other investments $ 1,078 $ 1,078 Goodwill $ 209 $ 213 Intangible assets $ 18 $ 22 Deferred income taxes $ 244 $ 237 Other long-term assets $ 127 $ 49 Total non-current assets $ 4,124 $ 4,116 Total assets $ 5,865 $ 5,800 Liabilities and stockholders' equity Liabilities Current liabilities Short-term debt $ - $ 359 Capital leases $ 1 $ 1 Accounts payable $ 642 $ 608 Deferred income taxes $ 95 $ 37 Other current liabilities $ 185 $ 177 Total current liabilities $ 923 $ 1,182 Non-current liabilities Long-term debt $ 1,317 $ 1,009 Capital leases $ 4 $ 3 Deferred taxes liabilities Other long-term liabilities $ 97 $ 101 Total non-current liabilities $ 1,418 $ 1,112 Total liabilities $ 2,341 $ 2,294 Stockholders' equity Common stock $ 2,362 $ 2,246 Retained earnings $ 996 $ 1,098 Accumulated other comprehensive income $ 166 $ 162 Total stockholders' equity $ 3,524 $ 3,506 Total liabilities and stockholders' equity $ 5,865 $ 5,800 Table 2: Balance sheet (Source: created by author) Analysis of Key Financial Ratios The financial ratios are the comparison of the financial statement. The financial statement ratios are computed because it is useful to various stake holders. The stake holder that uses the computation of the financial ratios are the investors, creditors and management. It is regarded as the most commonly used tools for decoding the performance of the business (Kou et al. 2014). The most important features of the ratios are that they are easy to compute and simple to understand. The ratios are calculated based on the financial statement of the company provided below: The key financial ratios of the company Boral is given below: Key Financial Ratios Particulars 2015 2016 Debt Equity Ratio 0.37 0.29 Current Ratio 1.89 1.42 Quick Ratio 1.30 0.95 Return on Equity 7.29% 7.30% Net Profit Margin 5.98% 5.94% Inventory Sales Ratio 0.125 0.129 Table 3: Key financial ratios (Source: Created by Author) Debt Equity Ratio The debt to equity ratio is a liquidity ratio. The calculation is done by dividing the total debt to total equity. If the debt equity ratio of the company is high this indicates that the company is using more debt financing than the equity financing (Damodaran 2016). The formula that is used for calculating the debt equity ratio is given below: Debt equity ratio= Debt /Equity The calculation in the Table 3 shows that the debt equity ratio of the company in 2015 is 0.37 and in 2016 is 0.29. It is generally implied that low debt equity ratio means that there is stability in the company. The companies have higher solvency risk have high debt equity ratio. In the current scenario the debt equity ratio of the company has reduced marginally (Brigham and Ehrhardt 2013). That indicates that the solvency situation of the company has improved from 2015 to 2016. The long term debt of the company has reduced as a result the debt equity ratio of the company has also reduced. On analyzing the debt equity ratio it can be said that in 2015 the 37% of the assets have been financed by the long term debt. In 2016, the debt equity ratio indicates that the 29% of the total assets are financed by long term debt. Therefore based on the debt equity ratio it can be said that the solvency situation of the company has improved. Current ratio The current ratio is a liquidity ratio. This ratio measures the ability of the business to pay the short-term debt of the company with its current liabilities. The current liabilities are the debts that are due within the current year (Leary et al. 2014). It means that the business has limited time for raising funds for payment of liabilities. This means the businesses that have higher current assets can pay of their current liability without selling their long-term assets. The method for calculating the current ratio: Current ratio= Current Assets/ Current Liability The current ratio of the company in 2015 is 1.89 times and in 2016, it is 1.42. This means that in 2015 the company for every $1 current liability has $1.89 of current assets. In 2016, the company has $1.42 of current assets for every $1 of current liability. It means that the business has more assets to pay off the liability therefore higher current ratio is suitable for the company. However, very high current ratio specify that the business is not using the current assets is effectively. In general, the business should have current assets 2 times of the current liability. In this, case the current ratio of the company is less than 2 in both the years 2015 and 2016. In addition to this, the current ratio of the company has further reduced in 2016 from 2015. The reason for the reduction in current ratio is the reduction of the current assets and increase in current liability (Al Mamun 2013). Therefore, it can be said that based on the current ratio the company is not in the current s ituation. Quick ratio The quick ratio is also known as acid test ratio. This ratio indicates the repayment capability of the business to pay off its current liability with the current assets. The current asset in this case does not include the inventories. The formula for calculating the quick ratio is given below: Quick ratio= Current assets Inventories/ Current liability In this case, the quick ratio of the company in 2015 is 1.30 and in 2016 is 0.95. This means that in 2015 the company had enough quick assets to pay off the current liability of the company. However, in 2016 the company does not have enough quick assets to pay off the current liabilities (Weygandt et al. 2015). This indicates that in 2016 there can be a solvency issue that the company has might face. Therefore based on the ratio it can be said that the solvency situation of the company has declined. Return on Equity The return on equity is a profitability ratio that measures the ability of the business to earn profit from the shareholders fund. The Return on equity measures the ability of the management to earn profit from the shareholders fund (Spronk et al. 2016). The formula for calculating the return on equity is Return on Equity= Net Income/ Share holders equity In this case, the ROE of the company in 2015 is 7.29% and in 2016, it is 7.30%. The ROE of the company has remained stable. The reason is that the net income of the company has remained stable. Therefore, it can be said that the position of the business has remained stable. It is not a negative sign but this is not a positive of the company. Net Profit margin The net profit margin indicates the profit making ability of the business. The calculation of net profit margin ratio is given below: Net Profit margin ratio= Net Income/ Net Revenue The Net profit margin of the company in 2015 is 5.98% and in 2016 is 5.94%. The net profit margin of the company is stable in both the year. The reason is that the net income of both the year has remained stable (Spronk et al. 2016). The analysis of the net profit margin of the company indicates that the business has remained similarly profitable in both the years. This indicates that the business has not improved the performance of the company in the two consecutive years. Inventory Sales ratio The inventory sales ratio is useful because it indicates the manner in which the inventory is managed in the business. The formula for calculating the inventory sales ratio is: Inventory sales ratio= Inventory/ Revenue The increase in inventory to sales ratio indicates that the investment is growing more rapidly than the sales. In this case, inventory sales ratio is 0.125 in 2015 and it is 0.129 in 2016. The reason behind the increase in the Inventory sales ratio is increase and increase in inventory (Steidel et al. 2014). Conclusion The report indicates the performance of the business by calculating the key financial ratios. Based on the above report it can be concluded that the liquidity position and solvency position of the company is satisfactory. However, the profitability of the company has remained stable. Therefore, it can be said that the performance of the company needs to be improved. Reference Al Mamun, A., 2013. Performance Evaluation of Prime Bank Limited in Terms of Capital Adequacy.Global Journal of Management and Business Research,13(9). Brigham, E.F. and Ehrhardt, M.C., 2013.Financial management: Theory practice. Cengage Learning. Damodaran, A., 2016.Damodaran on valuation: security analysis for investment and corporate finance(Vol. 324). John Wiley Sons. Kou, G., Peng, Y. and Wang, G., 2014. Evaluation of clustering algorithms for financial risk analysis using MCDM methods.Information Sciences,275, pp.1-12. Leary, M.T. and Roberts, M.R., 2014. Do peer firms affect corporate financial policy?.The Journal of Finance,69(1), pp.139-178. Spronk, J., Steuer, R.E. and Zopounidis, C., 2016. Multicriteria decision aid/analysis in finance. InMultiple Criteria Decision Analysis(pp. 1011-1065). Springer New York. Steidel, C.C., Rudie, G.C., Strom, A.L., Pettini, M., Reddy, N.A., Shapley, A.E., Trainor, R.F., Erb, D.K., Turner, M.L., Konidaris, N.P. and Kulas, K.R., 2014. STRONG NEBULAR LINE RATIOS IN THE SPECTRA of z? 2-3 STAR FORMING GALAXIES: FIRST RESULTS FROM KBSS-MOSFIREBased on data obtained at the WM Keck Observatory, which is operated as a scientific partnership among the California Institute of Technology, the University of California, and NASA, and was made possible by the generous financial support of the WM Keck Foundation.The Astrophysical Journal,795(2), p.165. Vogel, H.L., 2014.Entertainment industry economics: A guide for financial analysis. Cambridge University Press. Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015.Financial Managerial Accounting. John Wiley Sons. Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015.Financial Managerial Accounting. John Wiley Sons.
Thursday, November 28, 2019
Akindele Owolabi Essays (1010 words) - Free Essays, Term Papers Akindele Owolabi Jovonne Bickerstaff English 104-25 November 30, 2015 Ebola in Africa The social issue that I am presenting is Ebola in west Africa. Ebola is a dangerous disease that affected the world population as a whole, and it struck the hardest in West Africa. This was extremely bad because the countries in west Africa have some of the lowest gross domestic products per capitas in the world. This means that they have a lack of means to treat people when they get the disease. Taking into consideration the lack of treatment for the virus and how contagious it is, it's easy to realize why this virus became a pandemic. People were dying at such high rates that the available treatment in western Africa could not keep up with the rate at which people were getting infected. This became a major concern for me because although I no longer live in Nigeria, my grand-mother, uncle, father, and other family members still live in the first infected city of Nigeria. The part of my multi-modal assignment that would be considered the "respectable" portion was a documentary done by Vice news. The documentary took place in Liberia: the start up location for the new cases of Ebola. The documentary definitely puts the issue into perspective by showing it from the outside looking in, as well as the view point of the actual citizens of Liberia. I put certain excerpts from the documentary into my project that I thought held value. The first one was Barack Obama giving a speech about how dangerous Ebola can be and that it is spreading rapidly all around the globe. I also included some interviews that the journalist did in that same documentary where he interviewed the people of the country of Liberia. The journalist asked a man how he feels about the current situation and he responded saying that it is sorrowful that his people are just dying on a daily basis. Also included is the note that there is a complete shortage of medical professionals and he althcare facilities to treat this disease. The people call ambulances and police and get no reply. Their people are just left to die. When someone is infected in the community, they have nowhere to go, being forced to stay in their community. This is the main cause of the disease spreading. That's the main aspect of the documentary; it tells specifically what the diseases is, how hard it is to treat, and how fast the people that are infected are dying. The song portion of my project, or the "ratchet" part is a song made by a native of Liberia that goes by Shadow. The name of the song is Ebola in town. The song is written partly in pidgin English, so it might be a little difficult to understand for some. The main point of the song is that Ebola is highly contagious. The song is supposed to be sort of a comical song stating the facts about Ebola. Some lines are that "Ebola can kill you fast, no touching your neighbors, no eating bush meat like bat and monkey meat" because they tend to have the virus in them. The song also says you can't run from it. You can go to Guinea but the virus is still there. Everywhere you go the virus is there. I feel like the documentary and the song add important aspects to one another. The documentary is more for outsiders and non natives that aren't aware of the situation going on in west Africa and the song is clearly made for natives considering the fact that the artists uses pidgin English. The song also shows the how some Liberians see the disease. Below I have written the lyrics of the song so if its hard to understand, you can follow along with it. Please enjoy! Something happen Something in town Oh yeah the news I said something in town Ebola Ebola in town Don't touch your friend! No touching No eating something It's dangerous! Ebola Ebola in town Don't touch your friend! No kissing! No eating something It's dangerous! (Repeat) I woke up in the morning I started hearing people dem yelling "Da what thing happen?
Sunday, November 24, 2019
In the story Ã¢â¬Å"Patriotism,Ã¢â¬ by Yukio Mishima, thirty-one year old, Lieutenant Shinji Takeyma is a proud strong Japanese soldier who has great patriotism for his Imperial Majesties. Shinji is faced with the knowledge of going to battle against his close friends who are also his colleagues. This story presents an ethical statement about acting on you believe to be right. The lieutenant chooses to take his own his own life rather than battling his closest friends. Sadly his wife Rieko follows him, taking her own life out of loyalty and respect for her husband. Every morning before he leaves for duty, he and Reiko would stand before the God shelf and bow before the Imperial Majesties. This is a routine tradition that they did to show respect and their honor to the Imperial Majesties. Both Shinji and Rieko are round characters in the story. They both have great loyalty, their loyalty to one another, to the Imperial Majesties and to his colleagues/ close friends. Shinji shows great will, power and courage to take his own life: Ã¢â¬Å"tonight I shall cut my stomachÃ¢â¬ (699), he says to Reiko calmly. They both make a pledge to die together. Reiko lays out her dagger symbolizing her love and devotion for her husband, showing him that she belongs to him. The book states, Ã¢â¬Å" husband and wife should be harmoniousÃ¢â¬ (697), in peace and pact as one. Shinji shows a lot of trust in Reiko: Ã¢â¬Å"he deferred her death to a time when he would no longer be there to verify itÃ¢â¬ (700). Most husbands would have chosen to kill the ir wife first. ShinjiÃ¢â¬â¢s qualities shows that he stands strong and proud to be a soldier, Ã¢â¬Å"in military uniform, stood protectively beside his bride, his right hand resting upon his sword, his cap held at his sideÃ¢â¬ (696). The story is told in a non-chronological order, explaining to us in the beginning the reason of Shinji and ReikoÃ¢â¬â¢s death. Shinji tells his wife, Ã¢â¬Å" I canÃ¢â¬â¢t do it, itÃ¢â¬â¢s impossible to do ... Free Essays on Patriotism Free Essays on Patriotism In the story Ã¢â¬Å"Patriotism,Ã¢â¬ by Yukio Mishima, thirty-one year old, Lieutenant Shinji Takeyma is a proud strong Japanese soldier who has great patriotism for his Imperial Majesties. Shinji is faced with the knowledge of going to battle against his close friends who are also his colleagues. This story presents an ethical statement about acting on you believe to be right. The lieutenant chooses to take his own his own life rather than battling his closest friends. Sadly his wife Rieko follows him, taking her own life out of loyalty and respect for her husband. Every morning before he leaves for duty, he and Reiko would stand before the God shelf and bow before the Imperial Majesties. This is a routine tradition that they did to show respect and their honor to the Imperial Majesties. Both Shinji and Rieko are round characters in the story. They both have great loyalty, their loyalty to one another, to the Imperial Majesties and to his colleagues/ close friends. Shinji shows great will, power and courage to take his own life: Ã¢â¬Å"tonight I shall cut my stomachÃ¢â¬ (699), he says to Reiko calmly. They both make a pledge to die together. Reiko lays out her dagger symbolizing her love and devotion for her husband, showing him that she belongs to him. The book states, Ã¢â¬Å" husband and wife should be harmoniousÃ¢â¬ (697), in peace and pact as one. Shinji shows a lot of trust in Reiko: Ã¢â¬Å"he deferred her death to a time when he would no longer be there to verify itÃ¢â¬ (700). Most husbands would have chosen to kill the ir wife first. ShinjiÃ¢â¬â¢s qualities shows that he stands strong and proud to be a soldier, Ã¢â¬Å"in military uniform, stood protectively beside his bride, his right hand resting upon his sword, his cap held at his sideÃ¢â¬ (696). The story is told in a non-chronological order, explaining to us in the beginning the reason of Shinji and ReikoÃ¢â¬â¢s death. Shinji tells his wife, Ã¢â¬Å" I canÃ¢â¬â¢t do it, itÃ¢â¬â¢s impossible to do ...
Thursday, November 21, 2019
Gatsby Illustrates the 7 deadly sins - Essay Example Old fears about the war were wearing off, and a materialistic new modernism was emerging, where money and social success were the key components of the so-called Ã¢â¬Å"American DreamÃ¢â¬ . The bookÃ¢â¬â¢s narrator, Nick Carraway, who is perhaps the most virtuous of all the characters in the book, reveals his fascination with money at the start of the book when he thinks to himself: Ã¢â¬Å"I bought a dozen volumes on banking and credit and investment securities, and they stood on my shelf in red and gold like new money from the mint, promising to unfold shining secretsÃ¢â¬ (Fitzgerald, 1990, p. 10) At this point money is presented as something shining and good, full of promise for those who work to obtain it. The character Gatsby is presented also at first as a person to be admired, somewhat mysterious, but nevertheless an example that country boy Nick is keen to follow. In fact, however, Gatsby and his world lead Nick into contact with all seven of the deadly sins, and this p aper traces the journey down that slippery slope in the narrative of the novel. The seven deadly sins in the Christian tradition are named as pride, envy, wrath, sloth, avarice, gluttony and lust. In The Great Gatsby there is evidence of a great deal of pride in the way that Nick and his friends behave on a daily basis. In the character of Tom Buchanan the reader can see what this does to a personÃ¢â¬â¢s character: Tom is larger than life, very loud and overbearing, and lacking in any true kindness or concern for others. He is utterly selfish, and treats his wife Daisy with arrogance and insensitivity. Nick is not as bad as this but his whole circle of friends clearly move around the upper levels of New York Society, thinking themselves far superior to ordinary people. Gatsby himself is so proud of his wealth and position that he hides the fact that he was born of a poor family in North Dakota, and even changes his name from Ã¢â¬Å"GatzÃ¢â¬ to Ã¢â¬Å"Gatsby.Ã¢â¬ They all dri ve expensive cars, and wear fashionable clothing to all the social events that they attend. Appearance is everything, and this is what attracts Nick at first to the glamorous Jay Gatsby. Nick is himself a wealthy man, and he thinks he has better taste than Gatsby, who is a very showy person, even to the point of being rather vulgar in terms of the way he dresses and the way his house is decorated. Nick envies Gatsby, however, because Gatsby possesses a certain allure and social cachet that Nick cannot hope to share. This persona that Gatsby presents is, however, entirely false. It comes from the young James GatzÃ¢â¬â¢s envy of the rich and beautiful elites that he imagined himself destined to belong to: Ã¢â¬Å"The truth was that Jay Gatsby of West Egg, Long Island, sprang from his Platonic conception of himself. He was a son of GodÃ¢â¬ ¦Ã¢â¬ (Fitzgerald, 1990, p. 63). This inflated opinion of himself leads Gatsby to envy those who have been born into wealth. So it is that Nick envies Gatsby, and at the same time Gatsby envies Nick and his friends. Instead of being content with what and who they are, each wants what the other has. Wrath is an old fashioned word for anger, and it is seen in the novel particularly in the character of Tom Buchanan. When Gatsby puts on his Oxford airs and graces, Tom is angry and mocks Gatsby: Ã¢â¬Å"Oxford, New MexicoÃ¢â¬