Financial Statements Paper Part II Research Example | Topics and Well Written Essays - 1000 words

Financial Statements Part II - Research Paper Example The Home Depot is the world’s largest home improvement store in terms of sales. In fiscal year 2008 which ended in February 1, 2009 the company generated $71,288 million dollars (Annual Report, 2008). The most important report that is released by public corporations regarding the operating and financial status of the company during a period of time is the annual report. In the annual report the managerial staff of the company provides an overview of the financial condition of a company. This paper analyzes the managerial assessment of the financial condition of the company. In order to determine whether the managers are being truthful about the situation ratio analysis will be used. In the 2008 annual report the managers admit that 2008 was a down year, but they claim that the firm made improvements to its operation and that considering the recession the firm is happy with the results. The managers are telling the truth in regards to the negative effects that a recession has o n the retail industry. In the annual report it claims that the company reduced its revenues by 7.8% and that operating earnings per share was reduced by 22%. The managers are insinuating that the profitability of the company was weak. In accounting there is a principle called the conservatism principle. This principle states that when in doubt; choose the method that will be least likely to overstate assets and income (Weygandt & Kieso & Kimmel, 2002). Three ratios that provide information regarding the profitability of the company are the gross, operating, and net margin. The metric results for Home Depot for these three financial ratios respectively in fiscal year 2008 were 34%, 6%, and 3% respectively. Financial analysis evaluate whether a financial metric is good or not is by comparing it to the industry ratio. The gross margin, operating margin, and net margin industry standards are 26.85%, 5.11%, and 3.18%. The company outperformed the industry in two of the three profitabilit y ratios and in the one that it was below the industry it was only by 0.18%. In the annual report the company claimed that the firm’s generated over $5.5 billion in cash which help the firm reduce its debt obligations. A financial ratio that can help a person determine the validity of the manager’s statement is the current ratio. The current ratio is a financial metric that test the ability of a company to pay off its short term debt (Garrison & Noreen, 2003). The current ratio of Home Depot in fiscal year 2008 was 1.20. A current ratio is normally regarded as good if it is above 1.0. The current ratio of Home Depot at 1.20 is also above the industry norm of 1.15. Another statement the manager claim in the annual report is that the firm had accumulated a very solid $41 billion in assets. Having a lot of assets is good, but it is more important to generate income off those assets. A financial metric that test how efficient a company is at utilizing its assets to generat e income is the return on assets (ROA) metric. The return on assets of the company in 2008 was 5%. The figure is good when you compare to the industry standard of 3.9%, but the firm’s ROA was reduced by 100% in comparison with the previous fiscal year. There were other operational decisions of significance mentioned in the 2008 annual report such as the fact the company closed down 15 stores, it

Domestic Violence Essay Example | Topics and Well Written Essays - 500 words - 2

Domestic Violence - Essay Example The new policy insists that children be taken from their households even with only two incidences of problematic behavior then the parents will have to undergo treatment, therapy or counseling before the children can be given back to their care. This method actually severs family ties and changes developmental needs of children significantly. Maintaining the family as complete and intact ensures that the children will have the connection and bond with their families, even it may be dysfunctional. It is, then, important to guarantee their safety while protecting the family as a unit. The new policy may protect the children from harm, but it does not protect them from the disadvantages of being disconnected from their families. The new policy should, then, recognize the needs of empowering the parents with problem behaviors to continue correcting their behavior while their children are with them to be able to provide them their developmental needs, as well as, a positive environment.Th e Department of Job and Family Services may have the best in their minds when they created this policy. However, they forgot to take account the importance of family connections and the primary developmental needs of children when they imposed that children should be taken away from their families if there is a case of problematic behavior in the family. Taking children away from their parents should be the last resort unless they are the direct victims of their parent’s abusive behavior.

The Industrial Revolution Essay Example for Free

The Industrial Revolution Essay The Industrial Revolution (1750-1914) has been one of the most dramatic and far reaching events the history of mankind. It brought about a significant change, replacing the worker based environment with one that was machine led, bringing with it the start of mass production. As Peter Sterns (1998) observed, â€Å"Few aspects of human life escaped serious transformation over the course of the industrial revolution. † The revolution did slow down between 1815-1914. The probable cause of this was the lack of scientific research to back up developments, something that became more prevalent at a later date. At the time of slow growth it was know that things did or did not work, but there was little scientific research from which to understand the reasoning behind the workings, thus development was slow. Like all things in life the Industrial Revolution brought with it both benefits and problems. Two of the most significant benefits were experienced in Travel and energy. With the advent of the revolution and the construction of railways and canals for transporting goods, constructors soon saw the advantages of producing passenger bearing ships and railways. These opened up the world for citizens of all nations. However, possibly one of the greatest benefits of the revolution was the development and harnessing of energy for use in the home, workplace and all forms of transport. Some of the drawbacks and problems related to the Industrial Revolution are only being felt in modern times. For example, the overuse of fossil fuels. At the time of the revolution little thought was given to whether fossil fuels were a finite or infinite resource. It has proved to be the former and today we are facing a future of limited resources. The other major problem is emissions and their affect on the environment. The advent of Global warming has been the price of the Revolution References Sterns, Peter N. (1998) The Industrial Revolution in World History, rev. ed. Boulder, CO: Westview Press, 1998 Teich, Mikulas and Porter, Roy eds. (1996) The Industrial Revolution in National Context: Europe and the USA. Cambridge University Press. Wikipedia contributors. (Last Revised 11 July 2006) Industrial Revolution. Wikipedia, The Free Encyclopedia. Retrieved 12 July 2006 from http://en. wikipedia. org/w/index. php? title=Industrial_Revolutionoldid=63218352

Definition Of A Product Life Cycle Marketing Essay

Definition Of A Product Life Cycle Marketing Essay A product is anything which is capable of satisfying customers needs. Product includes both physical or tangible products (mobile,car, type writer, computer, bike) and intangible products or services (health care, banking, insurance). Definition of a Product Life Cycle define what a product life cycle is: It is the period of time over which an item is developed, brought to market and eventually removed from the market. OR The stages through which a product develops over time is called Product Life Cycle (PLC). OR The product life cycle is MARKETING CONCEPT that describes the way the revenues from the sale of a product behave over time. Stages of a Product Life Cycle The product life cycle is broken down into four phases: Introduction Growth Maturity Decline The Product Life Cycle (PLC) Curve plc, product life cycle curve For all products, the life cycle is drawn is the form of a mount shaped curve. The starting of the curve marks the introduction stage; the slope indicates growth stage; top of the curve signifies maturity; and the graph ends in the decline stage. Theory of PLC: Biological Life Cycle Versus Product Life Cycle The concept of Product Life Cycle is based on biological life cycle. For instance, when a seed is planted (introduction); it begins to pullulate (growth); it shoot out flowers and leaves (maturity); and after a defined period of time, it starts to shrink and eventually die out (decline). Human beings also pass through the same phases of introduction, growth, maturity and decline in their lives. The same theory applies to a product. When a new product is launched in the market, it starts gaining customers; then it stabilizes and becomes mature; then after some time, it is taken over by the introduction of better and superior competitors therefore, it is withdrawn or harvested from the market. Benefits of Using a Product Life Cycle for Revenue MARKETING managers consider product life cycle as an important measure of sales revenues. As you can see it from the figure, the slope of the curve denotes the sales of a particular product. The more the slope then more the sales. When a product is introduced in the market, the sales are negligible. Due to marketing promotion efforts, the demand of product starts to rise and as a result some revenue is generated. When more and more customers begin to buy the product, the revenues of the product reaches to maximum; this stage is called maturity. A product can stay in maturity for several weeks, months or years depending on the external and internal market conditions and resources. Finally, when a product better in features and functions is launched by a competitor into the market, the sales starts to decline; in some cases, companies have to disengage their products or services. Product Life Cycle Management (Marketing)/ PLCM Product life cycle management (or PLCM) is the succession of strategies used by business management as a product goes through its developmental life cycle. The conditions involving the promotion and sales of a product, involving market saturation and advertising vary over time and must be managed as it moves through the different stages of succession. What is Marketing Mix? A marketing mix is a pre-planned assortment of all those controllable elements which are involved in the planning of a products marketing. they include the following 4Ps Product (often substituted by Presentation) Price Place Promotion These four elements are adjusted until the correct combination is reached befitting the requirements of a products customers, while generating optimum income. How to Create a Product Life Cycle First Stage Introducing the Product : Brand Building For the product life cycle to begin, the product must be launched in the market. This is done after target market is identified and ensured that the need for your product or service exists. At this stage, sales will be very low because customers are not really aware about the product and its benefits. Generating Demand: Promotion, Advertising, Marketing The cost of advertising and initial distribution is very high as companies intend to create awareness of the product and target early adopters. The goal is to build market and generate demand. Stage 1 Marketing Mix Implications You need to have a fair idea of marketing mix implications for each stage. Product Products are very less in number Price Some companies keep the price to high so as to cover their costs whereas others tend to keep it low so as to attract more and more early adopters. Distribution Initially, the distribution is done selectively Promotion Creation of awareness is the only goal of the promotion Growth Watch how the product is establishing market and making profit in comparison to the competitors. Maintain the focus on the promotion efforts. Notice how slowly or rapidly the product is gaining customers and generating profits. More and more retailers will be interested in carrying your product. Remember the goal of growth phase is to increase sales and gain customer preference. Second Stage Stage 2 Marketing Mix Implications Product Improvement of the product quality. Price If the demand of the product is high, price is maintained at high level whereas; if you want to target additional customer segments, reduce the price. Distribution To intensify distribution, discounts are offered to the retailers. Promotion Improved the promotional efforts. Maturity You will observe that your product has met market saturation. Eventually, there will be a marked increase in sales and it will become a challenge for the marketing and sales team to maintain the market share as new competitors would be penetrating into the market. Increase promotional efforts and offer more discount to the retailers in order that they give your more shelf space than competitors. The goal of maturity stage is to extend product life cycle while maintaining market share. Third Stage Stage 3 Marketing Mix Implications Product Product is differentiated from those of competitors Price Maximum possible reduction in prices to be made Distribution Retain existing distributors by offering discounts as well as searching for more channels of distribution Promotion Intensive promotion efforts in order to establish brand loyality Decline Carry out amarketing analysis or a survey to find out how customers perceive the product currently. If the interest and demand is low, think of ways to take the product back to profit making position. Possible ways could be the creation of new target segment and making modifications in the product. The goal of decline stage is either to maintain the product or discontinue it. Fourth Stage Stage 4 Marketing Mix Implications Product Fewer products left in the product line. Price If the product is to be maintained, the prices are retained. In case of termination, prices are reduced to liquidate inventory. Distribution Channels are phased out gradually. Promotion Advertising expenditure reaches a minimum level Examples of Product Life Cycle (PLC) Set out below are some suggested examples of products that are currently at different stages of the product life-cycle: INTRODUCTION GROWTH MATURITY DECLINE Third generation mobile phones Portable DVD Players Personal Computers Typewriters E-conferencing Email Faxes Handwritten letters All-in-one racing skin-suits Breathable synthetic fabrics Cotton t-shirts Shell Suits iris-based personal identity cards Smart cards Credit cards Cheque books Popular Cases of Product Life Cycles Pepsi Product Life Cycle Development Coca Cola Product Life Cycle Development Kellogs Product Life Cycle Development Apple Product Life Cycle Development Nokia Product Life Cycle Development

A Struggling Economy: Jamaica and U.S. Relations Essay -- Essays Paper

A Struggling Economy: Jamaica and U.S. Relations Introduction: In â€Å"Jamaica : a guide to the people, politics, and culture† Marcel Bayer asserts that almost every country in the Caribbean since colonialism has been affected, in one way or another, by the rule of the United States. According to Bayer, the United States’ influence on the Caribbean has been perpetuated by four American interests: 1) the encouragement of trade, 2) the protection of U.S. investments, 3)the formation of alliances to prevent intervention and 4) the promotion of regional support for U.S. international goals (Bayer, 39). In alignment with Bayer’s statement, many historians, politicians and economists alike have traced the history of the United States in the Postcolonial Caribbean and have shown how U.S. affairs through trade and policy have differed from island to island. For instance, due to the fear of communist expansion, the United States has invested a considerable amount of time and energy in countries, like Jamaica, that have seemingly sh adowed Cuba’s â€Å"oppressive† government. As a result, this paper will provide a historical examination of how Jamaica’s economy has been influenced by U.S. relations during the postcolonial era. Within this essay, I will address the following sectors: agriculture, manufacturing, emigration, textile and entertainment. In addition, to further my analysis of Jamaica’s devastating economy, I have also included responses from three Jamaican members of Stanford’s Caribbean Student Association (CSA). To protect my informants’ right to confidentiality, I will not include their names in this essay. Yet, before addressing this topic any further, I will now give a brief overview of Jamaica’s history of colonization, i... ...ersity of California, Los Angeles, 1979. Reckford, Mike. â€Å"White Reggae: Cultural Dilution in the Record Industry.† Popular Music and Society. Spring 2000. Rodriguez, Clara E. â€Å"The Shifting Color Line† Changing Race: Latinos, the Census, and the History of Ethnicity in the United States. New York: New York University Press, 2000. Self, Sayida. â€Å"Rastafari: An Ethos of Black Resistance.† (Ecology and the Conservation of Natural Resources, 3) Last Modified Friday, 12-Dec-2003 01:57:47 CST http://www.utm.edu/departments/ed/cece/ecology/Q4.shtml World-Aluminium.Org Home of the International Aluminium Institute. ***http://www.world-aluminium.org/production/index.html World-Aluminium.Org Home of the International Aluminium Institute. http://www.world-aluminium.org/environment/economic.html Self, Sayida. â€Å"Rastafari: An Ethos of Black Resistance.†

This Cruel World :: essays research papers

This Cruel World   Ã‚  Ã‚  Ã‚  Ã‚  It all began when I was brought into this world. At that age I probably didn’t know much but as a kid I knew every thing was great. Getting pushed around in a stroller all day, to being fed, to being put to bed at nighttime with dozens of stuffed animals around you, what else do you want? Life as a kid was great, I didn’t have any problems to worry about, everything was done for me. Unfortunately that just last so long and all I came to realize is that growing up in this big world is not getting easier.   Ã‚  Ã‚  Ã‚  Ã‚  Society†¦ Society is at its peak waiting for you to come out and play. Look at what kind of world we live in today. One of the biggest countries in the world is at war with other countries overseas. What kind of image does that let out to the public? The United States is fighting its deepest war against the best of these fascists murdering butchers that want power and more power. We live in one of the best liberal countries where we don’t have to worry about anything like education and health care, but now we have to worry about these people terrorizing the whole world. Terrorism and killing people for no absolute reason is just repulsive and I, probably adding millions of others, cannot see myself endure this any longer. My view on terrorism has been amplifies by one million after September 11th. Seeing all these people that got killed and all the families that got destroyed just brings me to the conclusion that these people have no respect, no humani ty, no heart, no nothing. These people are worth crap to me.   Ã‚  Ã‚  Ã‚  Ã‚  This crude world makes my worldviews change from time to time. Here are some of my views that I have always had and that never changed: First off, looking upon honesty. I say honesty because being lie to is plain not fun. I don’t even consider people who aren’t honest with me. If a person cannot be truthful that person has not respect. Put it this way, I don’t respect people that don’t respect me. Another important thing that I believe in is chivalry. All men should always be gallant and should always treat that woman with respect. The woman is important because of he ability to bring children to life.

Local Literature Essay

Follow-up or tracer studies have enjoyed popularity in LIS training needs/ assessment analyses over the past 20 years in Africa in studies by scholars such as Anadiran (1988) in Nigeria; Alemna (1991, 1999) and Kisie du (1993) in Ghana; Rosenberg (1989, 1994) in Kenya; Ocholla (2001 and 2005) and Stilwell (2004) in South Africa Rugambwa (1998) and Mammo (2007) in Ethiopia; Aina and Moahi (1999) in Botswana; and Lutwana and Kigongo – Bukenya (2004) in Uganda. Mammo (2007) conducted a study on the status of LIS education in Ethiopia and the perceptions of graduates on the LIS program me. The study revealed that in one university ,the LIS program me changed to Information Systems because of university-wide changes ,while in another university, the LIS curriculum remained the same. Graduates indicated that they were not satisfied with the LIS programme. 2 Lutwana and Kigongo-Bukenya (2004) conducted a study on the appropriateness of the EASLIS (East Africa School of Library and Information Science) curriculum to professional practice in Library and Information Science field in Uganda. The purpose of the study was to establish where graduates worked, what they did, and whether their education met employers’ expectations. It further identified areas of curriculum revision. The study revealed that most graduates were employed in academic institutions, government departments, banks and NGO’s libraries, where they performed various professional activities. The study also revealed that employers complained about the lack of practical skills among the graduates, citing specialization through electives as inadequate . Aina and Moahi (1999) conducted a tracer study of graduates from the Department of Library and Information Studies at the University of Botswana. The aim of the study was to determine the curriculum of the Department of LIS at the University of Botswana. The study revealed that the graduates were employed in traditional library settings. The study also found that their training was relevant to the tasks that they performed, although they advocated the strengthening of the information technology component of the curriculum . Kaijage (n. d. conducted a tracer study on the skills and knowledge of B. Com graduates of the University of Dares Salaam. The study concluded that the knowledge and skills that the graduates obtained from the university were relevant to their jobs. But it also suggested that changes should be made to the program me. There are also many other tracer studies conducted all over the Africa and the rest of the world. In South Africa, Stilwell (2004) conducted a survey of alumni perceptions of thepost graduate ILS (Information and Library Science program me at the University of Natal). Critical issues, such as balancing the human centre approach with IT, were identified. The findings of the study indicated that the program me achieved its outcomes because it prepared alumni well for the work place. Ocholla’s (2001) tracer study of LIS graduates from 1996 -1997 determined whether the skills and attitudes they gained during their training at the University of Zululand applied in their jobs. The results of the study indicate that graduates obtained sufficient knowledge from the degree program me . These examples indicate that tracer studies are generally conducted to find out about the fates of departmental graduates or alumni. They investigate where graduates are, whether they are employed, and employers’ perceptions about the skills and knowledge that LIS graduates have. They are also used to obtain feedback from employed alumni and employers on the relevance of the program me offered by different departments. Like most tracer studies, this study addresses the same questions: Are the graduates employable? Is the curriculum relevant? What are the perceptions of graduates and employers about the graduates’ skills, knowledge and education? Local literature At the Palanca literary awards dinner the other Saturday, Mrs. Sylvia Palanca Quirino invited the new Tourism Secretary, Ramon Jimenez Jr. , to be the guest speaker. Jimenez was responsible for coining the latest tourism come-on, â€Å"It’s More Fun in the Philippines. † He talked about literature and how it can help the tourism industry which, as we all know, has yet to be fully exploited. So many countries in our part of the world, particularly Thailand, have reaped millions from the flood of tourists visiting these countries. We get only a trickle, for though we have great possibilities, there is not enough global interest in our country and its attractions. Much of this is due to our own myopia, of our leaders who do not understand or realize the myriad possibilities here if we only know how to use them! Jimenez should produce long-range programs. This is one common fault of government; a new administration takes over and new policies are made no continuity is pursued. Will the slogan, â€Å"It’s More Fun in the Philippines† last only three years from now.? Will it be replaced when a new administration takes over? This is a minor point; will initiatives today be continued in the future? Does the present administration accept the past administration program enough to pursue its good aspects? Will our tourism executives use them? Just consider this: how many visitors go to England, to visit Stratford-on-Avon because they have enjoyed William Shakespeare’s plays. Those tourists clambering up the hills in Greece how many of them are there because they read the Homeric classics? And Spain, which reaps so much from the thousands upon thousands of visitors every year, how many visit that country because they have read Cervantes, and Hemingway’s novel, For Whom the Bell Tolls, and all those gory bullfight scenes in his fiction? Permit me to brag a bit. Once, I brought a busload of expats and some locals to the Ilokos because they wanted to see the setting of the Rosales saga. I was their tour guide. We went to my hometown, Rosales, and showed them two of the old houses which I used as models, and to that rundown barrio called Cabugawan where I was born, then on to Tayug where the Colorum rebelled in 1931, and to the Ilokos to see the old churches and finally to Cabugaw where the saga starts. And then one morning, more than a decade ago, a young man visited my bookshop. He was a schoolteacher in Holland; he had read Mass, the concluding novel in the Rosales saga which was published first in Dutch rather than in the English original. This was his first visit to Asia. Mass had appealed to him so much, he wanted to see its setting. I took him to Forbes Park first, then to Tondo, to Barrio Magsaysay and to Smokey Mountain which was still smoking then. Then we went to the university belt, to Recto and he saw all those young students milling about. And finally, that early evening we visited one of the massage parlors in Quezon City. Our National Hero, Jose Rizal he wrote the greatest Filipino novel why is there no literary tour based on his work and on his life? This literary tour will be more for Filipinos than for foreigners. It will impinge on our youth those virtues so terribly missing now the rectitude, the patriotism all the qualities which Rizal personified. Such a tour, led by a guide steeped in history, could start in the morning with a trip to Calamba, the Rizal house, the lake, and nearby Mt. Makiling. From there, back to Manila, to the Noli geography, the University of Santo Tomas, Binondo then Fort Santiago, the Luneta where Rizal was executed, and finally to Paco Cemetery where he was first buried. It could end with a view of the Manila sunset. Tourism for locals is growing it should be the way it is with Japan where the Japanese themselves are the best tourists in their own country. I told Jimenez to consider the movies. The Koreans are now producing epic historical movies, and those addictive telenovelas which have enthralled so many all over the world. My daughter-in-law, Lee Pai, who teaches history at the University of California at Santa Barbara happened to be visiting. She said those movies and telenovelas are scripted by Korea’s leading writers familiar with the literary classics of the West and East which explains the high quality of the telenovelas unlike the asinine and moronic serials produced by local TV. As evidenced by the Palanca awards, we are never short of literary talent. Why do our movie and TV people ignore them? Movie festivals are a great attraction in Europe and so are book fairs and literature meetings. Singapore has an international literary festival each year, India, too, and the annual Frankfurt Book Fair is one of the biggest attractions in this German city. Just concluded in Korea is the Annual PEN Congress an international meeting of writers. Writers attending this Congress will surely go home and write about Korea, further enlarging the global reach of that prosperous and booming country. Meanwhile, let me continue tossing encomiums at the Palancas for their perseverance, charity and goodwill in supporting the Awards for literature. I knew the founder, Carlos Palanca Jr. , personally he was very charming, debonair, with a wide circle of acquaintances in business and with the culturati. As far back as I can recall, it was the late NVM Gonzalez and Nick Joaquin who suggested to him the creation of the Awards to encourage literary excellence in the country. Sixty-two years three generations! I do not think such an effort has any equal in the region or in all of Asia. The vitality and continuing relevance of such effort requires organizational skills, massive expenditure and vision. It is a wonder to me why, up to now, this massive contribution of the Palancas to our culture and nation has not been publicly recognized. Filipino writers should be grateful to the children of Charlie Palanca who have not neglected their father’s vision. Sylvia Palanca Quirino leads them in plodding on. In the beginning, the awards were only for fiction and poetry in English and Tagalog they now include children’s stories, plays, novels, not just in these two languages but in Cebuano, Ilonggo and Ilokano. At the Awards dinner, Quirino also announced that the Awards will also recognize Filipino achievers. While the Palanca Awards promote creativity, it follows that media, particularly TV, can do so much by using the work of our best writers, as is done in Korea. Publishers can add to what the Palanca Awards have produced create literary sections in newspapers and magazines, publish those new and splendid works. May I also now suggest to Mrs. Socorro Ramos that her National Book Stores all over the country should exhibit in their show windows Filipino books, both fiction and non-fiction? They deserve exposure, a much wider audience. Do all these not because it is patriotic but because these good writers deserve a wider readership in their own country.