Members of the Portfolio Committee:
I greatly appreciate this opportunity to reflect on my writing and present my analysis to you. At this time, my writing has progressed in the following ways: I have developed a much more concrete concept of choosing the topic of my thesis statement; I have learned when to appropriately add outside sources to my position in order tostrengthen it; and I have discovered how to effectively target my audience.
The most significant way my writing has progressed this semester is through the development of my thesis statements; a critical aspect of essay writing, particularly in a field such as demanding as psychology. For example, in my initial essay titled Blue Collar Brilliance, Indeed
my original thesis statement was too broad and did nothing to make my stance on the subject obvious. In fact, my thesis statement was actually located in my fifth paragraph: “These perspectives are the symptoms of an archaic academic class system held over from when university degrees were a guaranteed means of achieving success to get ahead in life.” By simply rearranging these sentences I neatly defined my thesis and the entire essay. In our second assignment, which I named
The Television Disconnect, my thesis statement was firmly, if bluntly,
placed as the final sentence in my first paragraph. This made it very clear what my stance on the subject of television and popular culture was by stating, “While the subject itself is interesting and thoughtfully proposed ... (it was) ineffective and unconvincing.” It may be a far cry from an ideal thesis statement, but it’s certainly a step in the right direction.
Another way that I am becoming a more confident academic writer is
through the use of quotes and source citations. In my initial essay I was
encouraged to use quotes from Mike Rose, author of BlueCollar Brilliance in order to clarify my agreement with his stance that “intelligence is closely associated with formal education.” The simple addition of a few quotes not only showed that I had thoroughly read his work, it lent credibility to my own writing. On the other hand, while TheTelevision Disconnect was amply stocked with quotations from Steve Johnson’s chapter Watching TV Makes You Smarter, I discovered that a lack of outside source citations was needed to back up my claim that “an increasing population abandoning the habit of television watching that would fail to be impressed or moved by his logic.” In this case, a cited quote from Jim Edwards of Business Insider
was used to lend the credibility I needed. In short, my confidence as an academic writer has been boosted by learning how to present my ethos.
Finally, and most significantly, my ability to narrate to my audience has and will continue to improve. In Blue Collar Brilliance, Indeed, my audience was quite clearly those who sympathize with the plight of the bluecollar worker discriminated against because of their choice of education. I showed this by adding a ...
Essay On Assessment For Learning. PDF Reflective Essay on AssessmentFinni Rice
Explain the Importance and Benefits of Assessment for Learning Free .... ⇉Assessment For Learning Assignment Essay Example | GraduateWay. Assessment for learning essays. Concept Analysis Student Centered Assessment Essay Example | Topics and .... Assessment For Learning Examples Of Best Practice In Primary Learning .... Assessment 1 - Essay Literacy and Numeracy - 29.11 Assessment 1 - Essay .... Learning and assessment written assignment part 1. ≫ Importance of Assessment in Student Learning Process Free Essay .... Assessment 1 2 evaluation essay. Assessment 2 (Essay) | 21129 - Managing People and Organisations - UTS .... Assessment for learning overview | Teaching Resources. Essay Assessment_ Day 4 | Essays | Languages. Evaluation Essay - 9+ Examples, Format, Pdf | Examples. School Based Assessment for Learning Essay Example | StudyHippo.com. (PDF) Reflective Essay on Assessment. (PDF) Assessment for Learning Impacts on Students’ Responsive Writing .... Assessment essay. Assessment Essay - Georgetown Canine Concierge. Essays on school assessments.
Explain the Importance and Benefits of Assessment for Learning Free .... ⇉Assessment For Learning Assignment Essay Example | GraduateWay. Assessment for learning essays. Concept Analysis Student Centered Assessment Essay Example | Topics and .... Assessment For Learning Examples Of Best Practice In Primary Learning .... Assessment 1 - Essay Literacy and Numeracy - 29.11 Assessment 1 - Essay .... Learning and assessment written assignment part 1. ≫ Importance of Assessment in Student Learning Process Free Essay .... Assessment 1 2 evaluation essay. Assessment 2 (Essay) | 21129 - Managing People and Organisations - UTS .... Assessment for learning overview | Teaching Resources. Essay Assessment_ Day 4 | Essays | Languages. Evaluation Essay - 9+ Examples, Format, Pdf | Examples. School Based Assessment for Learning Essay Example | StudyHippo.com. (PDF) Reflective Essay on Assessment. (PDF) Assessment for Learning Impacts on Students’ Responsive Writing .... Assessment essay. Assessment Essay - Georgetown Canine Concierge. Essays on school assessments.
Personal Belief Essay Example | Topics and Well Written Essays - 1000 words. Religions Essay | Essay on Religions for Students and Children in .... Essay About Religion Beliefs. values and beliefs essay.jpg. College Essay: Belief in god essay. Examples Of An Essay In Quotes. QuotesGram. Norms values and beliefs essay. School Essay: Values and beliefs essay. Cultural Beliefs Essay Example | Topics and Well Written Essays - 500 words. Principle beliefs of Christianity Essay | Studies of Religion II - Year .... Principle Beliefs of Judaism Essay | Covenant (Biblical) | Shema Yisrael. Definition Essay: Challenging a belief essay example. 008 Writing College Essay On Religion And Education Essays How To Start .... Core Beliefs Essay | PDF | Curriculum | Learning. (PDF) Understanding Beliefs: An Essay on the Methodology of the .... ≫ Compatibility between Scientific Views and Religious Beliefs Free .... Ontology and Epistemology: My Beliefs Essay Example | Topics and Well .... Christianity Full Essay, Ethics, Beliefs, Sacred Texts!!! | Studies of .... My religious beliefs essay - articleentitled.x.fc2.com. 15/15 Essay for Nature of Religion and Beliefs - Islam Answering the .... ≫ Belief System and Ways of Belief Formed Free Essay Sample on Samploon.com. 004 Belief Essay Ideas 007770243 2 ~ Thatsnotus. Filipino Values and Beliefs Free Essay Example. Religion essay: Describe the influence of religious traditions on the .... Belief essay religious system. My Values And Beliefs Essay. Belief essay topics - mfacourses887.web.fc2.com. Statement of informed beliefs essay. Beautiful Belief Essay Ideas ~ Thatsnotus. belief systems essay | Morality | Confucianism. Beliefs Essay Topics. Beliefs in Society. The importance of religion essay. Personal Belief Narrative Essay and Performance. The Relationship Between Beliefs, Values, Attitudes and Behaviours Beliefs Essay Beliefs Essay
Business Ethics and Sustainability Module Assignment Question (wor.docxhumphrieskalyn
Business Ethics and Sustainability Module Assignment Question (worth 60% of the module mark).
As an individual, select a single company that is within one of the industries listed in the table below. Please note you will be asked to select this company in your seminar in week 8. Companies are not permitted to be selected by more than one student. By week 8 you should have explored and investigated the company of your choice in relation to the following question:
Critically analyse the actions of your selected company in relation to the following 3 elements. You should conclude based on the extent to which the company engages with the three aspects.
To answer this question you must respond to the following aspects:
a) The business ethics conducted by the company
b) Their CSR approaches
c) Their engagement with sustainability practices.
Each component will be marked equally out of 100. Your mark will be an average across the three components. The word limit is 2500 words.
DEADLINE: 4pm – Friday 8th of January 2016
Automotive
Medicine
Fashion
Aviation
Cosmetics
Science
Education
Finance
Travel
Alcohol
Logistics
Legal
Television
Recreation
Tourism
Hotels
Tobacco
Retail
Restaurants
Consulting
Energy
IT
Banking
Sports
Technology
Engineering
Farming
SMEs
Utilities
Food
Assignment Marking Criteria
Essays will be marked based on the following criteria, please consider the following points:
1. The adoption and analysis of suitable and relevant theory relevant to the company under investigation.
2. The integration of case study material and organisational examples.
3. Critical analysis should be included which explores the topics in question.
4. Essays should answer the assignment question specifically and not discuss irrelevant/random issues.
5. A suitable essay structure should be adopted.
6. All material must be reference correctly within the text itself (main body).
7. A thorough and complete reference list must be included at the end of the essay in accordance to Harvard standards (please see guide).
8. Any advice provided during your presentation should be taken into account.
9. Both questions should be given a proportionate amount of preparation and have an equal word count. They will be marked equally.
10. Valid arguments should be presented and supported with evidence.
11. A coherent introduction and overall conclusions should be included.
12. Please consider the matrix below which is used when marking.
13. Please do not rely on internet sources; varied academic sources are required.
Business Ethics and Sustainability Module: Assessment Knowledge and Understanding/Transferable skills Criteria
Knowledge and Understanding (maximum of 5)
On successful completion the student will be able to:
1. Develop an understanding of the scope and interrelationships between Business Ethics, CSR and Sustainability, demonstrating how Business Ethics and CSR models and theories can be applied to modern national and ...
Question 1 1. When making a strategic decision, the leader consi.docxIRESH3
Question 1
1. When making a strategic decision, the leader considers:
whether a particular choice will have a high or low strategic impact on the business and whether execution of the decision will be right or wrong.
how the choice fits into the hierarchy of wants.
whether a particular choice will have a high or low strategic impact on the business and whether execution of the decision will be easy or difficult.
how the choice fits into the hierarchy of needs.
10 points
Question 2
1. Organizations that want to encourage innovation:
communicate a sense of urgency.
avoid the use of lateral thinking.
provide assistance to workers who lose their jobs.
hire people who display the characteristics of creative individuals.
10 points
Question 3
1. Employees resist change because:
it violates creative intuition.
it violates the reciprocal relationship between employees and the organization.
they believe that change will add something of value to their job.
they have full information about future events.
10 points
Question 4
1. Self-reference means that:
each individual is working in his own direction.
each element in a system will serve the mission of the whole system.
every department can develop its own vision, independent of the company vision.
people who do not have a clear vision of the future have little chance of success.
10 points
Question 5
1. The manager of a successful mail order clothing company decided to implement teams, but the idea failed. According to the model for making strategic decisions, this idea was:
high impact, hard to execute.
low impact, easy to execute.
low impact, hard to execute.
high impact, easy to execute.
10 points
Question 6
1. Whereas vision continues to grow and change, the mission:
also continues to grow and change.
persists in the face of changing technologies.
changes with economic conditions.
reflects environmental shifts.
10 points
Question 7
1. ______________is the general plan of action that describes resource allocation and other activities for dealing with the environment and helping the organization attain its goals.
Charismatic leadership
Strategy
Vision
Mission
10 points
Question 8
1. _____________means the ability to anticipate and envision the future and maintain flexibility.
Mission
Transactional leadership
Strategic leadership
Vision
10 points
Question 9
1. _________ is a set of systematic techniques for changing mental concepts and generating new ones.
Lateral thinking
Idea incubator
Creativity
Idea champion
10 points
Question 10
1. Which of the following is a tool to implement change?
Supervision
Volunteering
Participation/Involvement
Commitment
There is no essay on this one, just 1 to 10 multiple choices and the article critique below. Thank you!
Unit VIII Article Critique
Utilize the research databases at the CSU Online Library and select two peer-reviewed, scholarly articles. The first article ...
Career Development Outline Career Opportunities Medical Billi.docxannandleola
Career Development
Outline
Career Opportunities Medical Billing and Coding
I. Introduction
· The paper will look at the career opportunities medical billing and coding.
· This career is very important in that it rests assures students that they are going to be contributing positively to the lives of parents.
· I would choose the medical coding to be best choice for me
II. The medical billing and coding being the same case or one position
· Many institutions have continued holding it as a comprehensive position while others provide the option of working exclusively with one or the other
· It is important to begin addressing which position is best for me by addressing their similarities and differences
· The biller is tasked with coordinating payments between insurance providers and patients, keeping invoices organized, and reminding all parties the amount owed and when it is due
III. Medical coders are not required to work with insurance companies at all
· Coders are responsible for recording medical data and coding it; for every treatment, item, or procedure there is a corresponding code
· Coders provide billers with a sense of security, supplying the correct code in order to streamline the billing process
IV. The skills required for the job, as well as duties are different for both medical billing, and coding
· Billers are expected to obtain necessary referrals, as well as pre-authorization from appropriate parties prior to specific procedures.
· This also demands the biller is prepared to check patient eligibility for certain services and procedures regarding treatment, procedure, or hospitalization
· They are essentially in charge of all financial aspects of services rendered.
V. The duties of a medical coder are different than that of a biller
· Coders must be prepared to review their work with an eye for detail and a comprehensive knowledge of codes as they equate to services rendered.
· The primary responsibility of a coder is to use the correct code for each service rendered, allowing for appropriate charges to be stated on the patient’s account.
· Coders must also maintain strict confidentiality regarding patient services, as well as to abide by HIPPA and other information security stipulations
VI. The two departments are encouraged to work together in order to ensure the billing process is smooth and easy for all involved
· To begin, I believe healthcare costs too much in this country, as of right now
· Moreover, coders have more power over the overall work environment.
· Finally, though coding seems superfluous to the healthcare process, I still feel I will be an important part of the
VII. There are numerous differences and few similarities in these two positions.
· Similarities include working in general the same facilities, as positions are offered in all manner of medical organizations from free clinics to neurological specialists.
· . Promotions are minimal in either field, as there are not different levels of experti.
1. Experts in healthcare fraud prevention note that a culture of regulatory compliance is established through ethical leadership from senior management. This helps deal with fraud violations by preventing them and addressing violations through key strategies when they occur.
2. The accounting information cycle validates transaction accuracy and maintains the accounting equation of assets equaling liabilities plus owner's equity through processes like journalizing, posting, trial balancing, and financial statement preparation.
3. Inventory valuation methods used in healthcare organizations include first-in-first-out, last-in-first-out, weighted average, and lower of cost or market. The method used depends on factors like tax implications.
Essay On Assessment For Learning. PDF Reflective Essay on AssessmentFinni Rice
Explain the Importance and Benefits of Assessment for Learning Free .... ⇉Assessment For Learning Assignment Essay Example | GraduateWay. Assessment for learning essays. Concept Analysis Student Centered Assessment Essay Example | Topics and .... Assessment For Learning Examples Of Best Practice In Primary Learning .... Assessment 1 - Essay Literacy and Numeracy - 29.11 Assessment 1 - Essay .... Learning and assessment written assignment part 1. ≫ Importance of Assessment in Student Learning Process Free Essay .... Assessment 1 2 evaluation essay. Assessment 2 (Essay) | 21129 - Managing People and Organisations - UTS .... Assessment for learning overview | Teaching Resources. Essay Assessment_ Day 4 | Essays | Languages. Evaluation Essay - 9+ Examples, Format, Pdf | Examples. School Based Assessment for Learning Essay Example | StudyHippo.com. (PDF) Reflective Essay on Assessment. (PDF) Assessment for Learning Impacts on Students’ Responsive Writing .... Assessment essay. Assessment Essay - Georgetown Canine Concierge. Essays on school assessments.
Explain the Importance and Benefits of Assessment for Learning Free .... ⇉Assessment For Learning Assignment Essay Example | GraduateWay. Assessment for learning essays. Concept Analysis Student Centered Assessment Essay Example | Topics and .... Assessment For Learning Examples Of Best Practice In Primary Learning .... Assessment 1 - Essay Literacy and Numeracy - 29.11 Assessment 1 - Essay .... Learning and assessment written assignment part 1. ≫ Importance of Assessment in Student Learning Process Free Essay .... Assessment 1 2 evaluation essay. Assessment 2 (Essay) | 21129 - Managing People and Organisations - UTS .... Assessment for learning overview | Teaching Resources. Essay Assessment_ Day 4 | Essays | Languages. Evaluation Essay - 9+ Examples, Format, Pdf | Examples. School Based Assessment for Learning Essay Example | StudyHippo.com. (PDF) Reflective Essay on Assessment. (PDF) Assessment for Learning Impacts on Students’ Responsive Writing .... Assessment essay. Assessment Essay - Georgetown Canine Concierge. Essays on school assessments.
Personal Belief Essay Example | Topics and Well Written Essays - 1000 words. Religions Essay | Essay on Religions for Students and Children in .... Essay About Religion Beliefs. values and beliefs essay.jpg. College Essay: Belief in god essay. Examples Of An Essay In Quotes. QuotesGram. Norms values and beliefs essay. School Essay: Values and beliefs essay. Cultural Beliefs Essay Example | Topics and Well Written Essays - 500 words. Principle beliefs of Christianity Essay | Studies of Religion II - Year .... Principle Beliefs of Judaism Essay | Covenant (Biblical) | Shema Yisrael. Definition Essay: Challenging a belief essay example. 008 Writing College Essay On Religion And Education Essays How To Start .... Core Beliefs Essay | PDF | Curriculum | Learning. (PDF) Understanding Beliefs: An Essay on the Methodology of the .... ≫ Compatibility between Scientific Views and Religious Beliefs Free .... Ontology and Epistemology: My Beliefs Essay Example | Topics and Well .... Christianity Full Essay, Ethics, Beliefs, Sacred Texts!!! | Studies of .... My religious beliefs essay - articleentitled.x.fc2.com. 15/15 Essay for Nature of Religion and Beliefs - Islam Answering the .... ≫ Belief System and Ways of Belief Formed Free Essay Sample on Samploon.com. 004 Belief Essay Ideas 007770243 2 ~ Thatsnotus. Filipino Values and Beliefs Free Essay Example. Religion essay: Describe the influence of religious traditions on the .... Belief essay religious system. My Values And Beliefs Essay. Belief essay topics - mfacourses887.web.fc2.com. Statement of informed beliefs essay. Beautiful Belief Essay Ideas ~ Thatsnotus. belief systems essay | Morality | Confucianism. Beliefs Essay Topics. Beliefs in Society. The importance of religion essay. Personal Belief Narrative Essay and Performance. The Relationship Between Beliefs, Values, Attitudes and Behaviours Beliefs Essay Beliefs Essay
Business Ethics and Sustainability Module Assignment Question (wor.docxhumphrieskalyn
Business Ethics and Sustainability Module Assignment Question (worth 60% of the module mark).
As an individual, select a single company that is within one of the industries listed in the table below. Please note you will be asked to select this company in your seminar in week 8. Companies are not permitted to be selected by more than one student. By week 8 you should have explored and investigated the company of your choice in relation to the following question:
Critically analyse the actions of your selected company in relation to the following 3 elements. You should conclude based on the extent to which the company engages with the three aspects.
To answer this question you must respond to the following aspects:
a) The business ethics conducted by the company
b) Their CSR approaches
c) Their engagement with sustainability practices.
Each component will be marked equally out of 100. Your mark will be an average across the three components. The word limit is 2500 words.
DEADLINE: 4pm – Friday 8th of January 2016
Automotive
Medicine
Fashion
Aviation
Cosmetics
Science
Education
Finance
Travel
Alcohol
Logistics
Legal
Television
Recreation
Tourism
Hotels
Tobacco
Retail
Restaurants
Consulting
Energy
IT
Banking
Sports
Technology
Engineering
Farming
SMEs
Utilities
Food
Assignment Marking Criteria
Essays will be marked based on the following criteria, please consider the following points:
1. The adoption and analysis of suitable and relevant theory relevant to the company under investigation.
2. The integration of case study material and organisational examples.
3. Critical analysis should be included which explores the topics in question.
4. Essays should answer the assignment question specifically and not discuss irrelevant/random issues.
5. A suitable essay structure should be adopted.
6. All material must be reference correctly within the text itself (main body).
7. A thorough and complete reference list must be included at the end of the essay in accordance to Harvard standards (please see guide).
8. Any advice provided during your presentation should be taken into account.
9. Both questions should be given a proportionate amount of preparation and have an equal word count. They will be marked equally.
10. Valid arguments should be presented and supported with evidence.
11. A coherent introduction and overall conclusions should be included.
12. Please consider the matrix below which is used when marking.
13. Please do not rely on internet sources; varied academic sources are required.
Business Ethics and Sustainability Module: Assessment Knowledge and Understanding/Transferable skills Criteria
Knowledge and Understanding (maximum of 5)
On successful completion the student will be able to:
1. Develop an understanding of the scope and interrelationships between Business Ethics, CSR and Sustainability, demonstrating how Business Ethics and CSR models and theories can be applied to modern national and ...
Question 1 1. When making a strategic decision, the leader consi.docxIRESH3
Question 1
1. When making a strategic decision, the leader considers:
whether a particular choice will have a high or low strategic impact on the business and whether execution of the decision will be right or wrong.
how the choice fits into the hierarchy of wants.
whether a particular choice will have a high or low strategic impact on the business and whether execution of the decision will be easy or difficult.
how the choice fits into the hierarchy of needs.
10 points
Question 2
1. Organizations that want to encourage innovation:
communicate a sense of urgency.
avoid the use of lateral thinking.
provide assistance to workers who lose their jobs.
hire people who display the characteristics of creative individuals.
10 points
Question 3
1. Employees resist change because:
it violates creative intuition.
it violates the reciprocal relationship between employees and the organization.
they believe that change will add something of value to their job.
they have full information about future events.
10 points
Question 4
1. Self-reference means that:
each individual is working in his own direction.
each element in a system will serve the mission of the whole system.
every department can develop its own vision, independent of the company vision.
people who do not have a clear vision of the future have little chance of success.
10 points
Question 5
1. The manager of a successful mail order clothing company decided to implement teams, but the idea failed. According to the model for making strategic decisions, this idea was:
high impact, hard to execute.
low impact, easy to execute.
low impact, hard to execute.
high impact, easy to execute.
10 points
Question 6
1. Whereas vision continues to grow and change, the mission:
also continues to grow and change.
persists in the face of changing technologies.
changes with economic conditions.
reflects environmental shifts.
10 points
Question 7
1. ______________is the general plan of action that describes resource allocation and other activities for dealing with the environment and helping the organization attain its goals.
Charismatic leadership
Strategy
Vision
Mission
10 points
Question 8
1. _____________means the ability to anticipate and envision the future and maintain flexibility.
Mission
Transactional leadership
Strategic leadership
Vision
10 points
Question 9
1. _________ is a set of systematic techniques for changing mental concepts and generating new ones.
Lateral thinking
Idea incubator
Creativity
Idea champion
10 points
Question 10
1. Which of the following is a tool to implement change?
Supervision
Volunteering
Participation/Involvement
Commitment
There is no essay on this one, just 1 to 10 multiple choices and the article critique below. Thank you!
Unit VIII Article Critique
Utilize the research databases at the CSU Online Library and select two peer-reviewed, scholarly articles. The first article ...
Career Development Outline Career Opportunities Medical Billi.docxannandleola
Career Development
Outline
Career Opportunities Medical Billing and Coding
I. Introduction
· The paper will look at the career opportunities medical billing and coding.
· This career is very important in that it rests assures students that they are going to be contributing positively to the lives of parents.
· I would choose the medical coding to be best choice for me
II. The medical billing and coding being the same case or one position
· Many institutions have continued holding it as a comprehensive position while others provide the option of working exclusively with one or the other
· It is important to begin addressing which position is best for me by addressing their similarities and differences
· The biller is tasked with coordinating payments between insurance providers and patients, keeping invoices organized, and reminding all parties the amount owed and when it is due
III. Medical coders are not required to work with insurance companies at all
· Coders are responsible for recording medical data and coding it; for every treatment, item, or procedure there is a corresponding code
· Coders provide billers with a sense of security, supplying the correct code in order to streamline the billing process
IV. The skills required for the job, as well as duties are different for both medical billing, and coding
· Billers are expected to obtain necessary referrals, as well as pre-authorization from appropriate parties prior to specific procedures.
· This also demands the biller is prepared to check patient eligibility for certain services and procedures regarding treatment, procedure, or hospitalization
· They are essentially in charge of all financial aspects of services rendered.
V. The duties of a medical coder are different than that of a biller
· Coders must be prepared to review their work with an eye for detail and a comprehensive knowledge of codes as they equate to services rendered.
· The primary responsibility of a coder is to use the correct code for each service rendered, allowing for appropriate charges to be stated on the patient’s account.
· Coders must also maintain strict confidentiality regarding patient services, as well as to abide by HIPPA and other information security stipulations
VI. The two departments are encouraged to work together in order to ensure the billing process is smooth and easy for all involved
· To begin, I believe healthcare costs too much in this country, as of right now
· Moreover, coders have more power over the overall work environment.
· Finally, though coding seems superfluous to the healthcare process, I still feel I will be an important part of the
VII. There are numerous differences and few similarities in these two positions.
· Similarities include working in general the same facilities, as positions are offered in all manner of medical organizations from free clinics to neurological specialists.
· . Promotions are minimal in either field, as there are not different levels of experti.
1. Experts in healthcare fraud prevention note that a culture of regulatory compliance is established through ethical leadership from senior management. This helps deal with fraud violations by preventing them and addressing violations through key strategies when they occur.
2. The accounting information cycle validates transaction accuracy and maintains the accounting equation of assets equaling liabilities plus owner's equity through processes like journalizing, posting, trial balancing, and financial statement preparation.
3. Inventory valuation methods used in healthcare organizations include first-in-first-out, last-in-first-out, weighted average, and lower of cost or market. The method used depends on factors like tax implications.
Ccmh 515 ca ccmh515ca ccmh 515ca education for service uopstudy.comNewUOPCourse
This document provides information on assignments for an online course on legal, ethical, and professional issues in counseling. It outlines 8 weekly assignments that cover topics like developing a professional counselor identity, analyzing ethics complaints, researching counseling credentials, learning about HIPAA requirements, addressing multiple relationships and boundary issues, counselor self-care, applying learning to case scenarios, special considerations for counseling populations, and an integrative paper. Students complete individual and team assignments involving research, analysis, reflection, and presentations to develop their understanding of counseling ethics, law, and professional identity.
Ccmh 515 ca ccmh515ca ccmh 515ca best tutorials guide uopstudy.comNewUOPCourse
This document provides information on assignments for an online course on legal, ethical, and professional issues in counseling. It outlines 8 weekly assignments that cover topics like developing a professional counselor identity, analyzing ethics complaints, researching counseling credentials, learning about HIPAA requirements, addressing multiple relationships and boundary issues, the importance of counselor self-care, applying learning to case scenarios, special considerations for counseling populations, and an integrative paper synthesizing learning on ethical decision-making.
This document provides 5 examples of application letters for jobs. Each example letter summarizes the applicant's qualifications, such as their relevant academic and professional background, and expresses interest in the position and how it aligns with their career goals. The letters compliment the employer, demonstrate the applicant's skills are relevant to the job requirements, and request an interview.
Please read the relevant parts of your textbook, which refer to ca.docxLeilaniPoolsy
Please read the relevant parts of your textbook, which refer to cash flow and financial planning.
To avoid any uncertainty regarding his business' financing needs at the time when such needs may arise, Cyrus Brown wants to develop a cash budget for his latest venture: Cyrus Brown Manufacturing (CBM). He has estimated the following sales forecast for CBM over the next 9 months:
March
$100,000
April
$275,000
May
$320,000
June
$450,000
July
$700,000
August
$700,000
September
$825,000
October
$500,000
November
$115,000
He has also gathered the following collection estimates regarding the forecast sales:
· Payment collection within the month of sale = 25%
· Payment collection the month following sales = 55%
· Payment collection the second month following sales = 20%
Payments for direct manufacturing costs like raw materials and labor are made during the month that follows the one in which such costs have been incurred. These costs are estimated as follows:
March
$187,500
April
$206,250
May
$375,000
June
$337,500
July
$431,250
August
$640,000
September
$395,000
October
$425,000
Additional financial information is as follows:
· Administrative salaries will approximately amount to $35,000 a month.
· Lease payments around $15,000 a month.
· Depreciation charges, $15,000 a month.
· A one-time new plant investment in the amount of $95,000 is expected to be incurred and paid in June.
· Income tax payments estimated to be around $55,000 will be due in both June and September.
· And finally, miscellaneous costs are estimated to be around $10,000 a month.
· Cash on hand on March 1 will be around $50,000, and a minimum cash balance of $50,000 shall be on hand at all times.
To receive full credit on this assignment, please show all work, including formulas and calculations used to arrive at the financial values.
Group Project Guidelines
· As a group, prepare a monthly cash budget for Cyrus Brown Manufacturing for the 9-month period of March through November.
· Use Excel to prepare the monthly cash budget.
· Based on your cash budget findings, answer the following questions:
· Will the company need any outside financing?
· What is the minimum line of credit that CBM will need?
· What do you think of CBM's cash position during the budget period? Do you see any concerns for the company in this regard?
· If you were a bank manager, would you want CBM as your client? Why or why not?
· It is up to the members of the group to divide the assignment tasks evenly. You will be graded on group participation
Your submitted Group Project (150 points) must include the following:
· 75 Points. An Excel spreadsheet that contains your group's monthly cash budget for Cyrus Brown Manufacturing.
· 75 Points. A double-spaced Word document of 1–2 pages that contains your answers to the questions listed in the Assignment Guidelines.
Grading
.
Cause and Effect Essay Examples | YourDictionary. Cause and effect essay. 100+ Important Cause and Effect Essay Topics. 100 Cause and Effect Essay Topics | Owlcation. Cause and Effect Essays Examples | Essay examples, Cause and effect .... 2 Cause and Effect Essay Examples That Will Cause a Stir. Cause and Effect Essays. Writing A Cause and Effect Essay | PDF. Amazing Cause Effect Essay ~ Thatsnotus. 75 Excellent Cause and Effect Essay Topics. Scholarship essay: Writing cause and effect essay. 017 Cause And Effect Expository Essay Example ~ Thatsnotus. 40 Cause and Effect Essay Topics for Students - writemyessay的部落格 - udn部落格. How to Write Cause and Effect Essay: Step by Step Guide : r .... How To Write A Cause And Effect Essay - UNUGTP News.
Your name _________________________________ Date of submission _.docxnettletondevon
Your name: _________________________________ Date of submission: ______________________
ENG201 Milestone 4: #MyWordsChangeLives Project Outline
#MyWordsChangeLives Project Outline
#wordschangelives
Instructions: Save this document on your own computer. Type into each box and expand it as needed for the length of your response. Answer thoroughly!
PART 1: PERSONAL REFLECTION
TOPIC: What is one problem, issue, or need in the world, or in your own community, that you care a lot about?
PERSONAL CONNECTION: Why is this particular issue important to you? Is there something in your life experience or academic studies that relates?
ROOT CAUSE HYPOTHESIS: What do you think are some of the root causes of this issue? Explain.
AUDIENCE HYPOTHESIS: Based on the causes you have identified, who would be a good audience for you to try to make a change on this issue? Why?
RESEARCH QUESTIONS: The next step is research, What are 3 questions related to your issue that you want to answer during your research? Think of information that might help you better understand the issue in order to address or solve it.
PART 2: RESEARCH SUMMARY
SOURCE #1: Include APA-formatted citation here, including link if applicable:
How can you tell that this is a reliable source?
In this column, make a list of the most important facts or statistics you learned from this source:
In this column, explain in your own words why the facts you included to the left are important:
What was the most important thing you learned from this source? Why?
SOURCE #2: Include APA-formatted citation here, including link if applicable:
How can you tell that this is a reliable source?
In this column, make a list of the most important facts or statistics you learned from this source:
In this column, explain in your own words why the facts you included to the left are important:
What was the most important thing you learned from this source? Why?
SOURCE #3: Include APA-formatted citation here, including link if applicable:
How can you tell that this is a reliable source?
In this column, make a list of the most important facts or statistics you learned from this source:
In this column, explain in your own words why the facts you included to the left are important:
What was the most important thing you learned from this source? Why?
PART 3: PROJECT PLANNING OUTLINE
CREATE YOUR OWN TEXT-BASED CAMPAIGN!
Start outlining the components of your final project here.
You will explain each choice in greater detail and polished prose for your final project.
Headline: What is the “headline” of your campaign? What phrase or hashtag will you use? Why those words?
Message: What is the subtext of the campaign? In other words, what messages are you communicating by the headline?
Audience: With whom is your campaign de.
1. Make sure you’re providing realistic solutions to the issue you.docxketurahhazelhurst
1. Make sure you’re providing realistic solutions to the issue you are discussing, not that administration needs to fix it. The purpose of this assignment is not just to present a problem in detail. It’s also to provide realistic solutions.
2. There are some APA Guidelines to consider
a. Avoid excessive first-person language
b. Keep direct quotes to a minimum
c. All sections need headings to guide the reader
d. Make sure you have a purpose statement in the first paragraph
e. Provide a formal conclusion section
f. Make sure if you use abbreviations you define what they mean
3. Make sure to answer any questions the professor asked in the feedback on your Week 2 assignment and explore topics he suggested you address
The second assignment is a 5-page paper that builds on the first paper. You may want to consolidate your first assignment to make your argument more concise and allow space to answer all the suggestions for this new paper, which include:
1. Review the feedback you received on the first assignment, especially issues like:Add 2-3 additional references to support your presentation. You always may add more scholarly references to strengthen your argument.
a. Make sure you have a purpose statement and clearly labeled conclusion section
b. Use paragraph headings to guide the reader and make it easy for the professor to see where you have met the requirements for the assignment
c. Spell check your document
d. Make sure to follow APA Guidelines including minimal use of first-person language, direct quotes, and that everything is properly referenced. For instance if you’re going to mention your organization, put in the name of the organization: Acme Hospital, rather than misusing first person language and saying my organization.
e. This is not an editorial/opinion paper/assignment, thus all points you make must be supported with a scholarly reference.
f. Read the information I posted in the Announcement section with tips for writing an academic paper.
2. In terms of the specifics of this assignment, the new section added to your previous assignment should include:
a. Identification and description of at least two competing needs that impact the issue you addressed in your first assignment. Please note I may have made some suggestions in your feedback about what to make sure to address in this assignment.
b. Describe any relevant policies or practices in your organization or nursing in general, such as from professional organizations or regulatory bodies that may influence your topic.
c. Explore the moral and ethical considerations, related to your suggested solution to issue you selected. How does your solution specifically promote ethics?
d. Recommend one or more policy or practice change designed to balance the competing needs of resources, workers, and patients, while addressing any ethical and financial shortcomings of the existing policies. Be specific and provide examples. Please make sure your solution is financially viable, as an.
1. Make sure you’re providing realistic solutions to the issue you.docxjeremylockett77
Workplace violence, especially in psychiatric settings, is a significant issue that impacts both patient and staff safety. It can lead to injuries, high turnover rates among staff, and other problems. Several strategies have been found to help reduce violence, such as conducting risk assessments, providing de-escalation training to staff, implementing rapid response teams, improving nurse-patient ratios, and making environmental design changes. While ensuring complete safety is impossible, healthcare organizations should treat violence prevention as a high priority through implementing evidence-based practices and recommendations.
Homework assignmentPlease annotate one artwork you like from this.docxAbramMartino96
Homework assignment:
Please annotate one artwork you like from this week’s textbook
reading or Smarthistory. Whenever I am writing for research
presentation or publication, this is how I begin. The point is to make
sure you’re not missing anything in terms of basic data or
interpretive frameworks. When I take notes on a lecture at a
conference, this is the way I like to organize my notes, as well.
Format
Identify the artwork
Identify Period Style
Identify Subject Matter
Discuss Historical Context
Discuss Visual Elements (Line, Color, Texture, Composition etc.)
Discuss Its Place in Ideas or Culture of the Time
.
Homeland Security efforts are ably reinforced by Homeland Defense an.docxAbramMartino96
Homeland Security efforts are ably reinforced by Homeland Defense and Defense Support of Civil Authorities (DSCA), which are missions executed by the Department of Defense (DOD), most specifically by the Combatant Command, United States Northern Command (USNORTHCOM). In supporting the nation when requested by DHS, FEMA, or other lead federal agencies, or as directed by the president or the secretary of defense, DOD provides many unique capabilities for crisis response. One specific function used most notably during the post-Hurricane Katrina period was the use of airborne assets to provide damage assessments and to gauge the extent of the sea surge at various times during the recovery.
The function of deploying such assets is traditionally called
intelligence, surveillance, and reconnaissance
(ISR). Yet the U.S. military cannot legally collect intelligence on U.S. citizens. Consequently, the action, as performed during the hurricane recovery operations described here, is known as
incident awareness and assessments
(IAA). For some, the difference between these terms is merely semantics; for many, IAA differs both symbolically and practically from ISR, if not in how information is collected, then in how it is used and the motivation behind the collection. (The Web site for IAA reference is under Web sites references below.)
Assignment Guidelines
Address the following in 5–7 paragraphs:
Do you believe the distinction between ISR and IAA lies simply with terminology (and therefore there is little or no difference) or that there is a separation between the concepts? Explain and defend your answer fully. You may choose to research the topic more fully.
Contemplating the ethics of using IAA in the homeland, list at least 3 benefits of its use where ethics might potentially be secondary.
List at least 2–3 costs or opposing views to its use and how IAA—or the information gathered—might be misused or abused.
What if criminal activity (like acres of tended marijuana) was observed during IAA missions intended to conduct damage assessments? How should such information be handled?
Do you believe converting the term
intelligence, surveillance, and reconnaissance
to
incident awareness and assessments
for operations conducted in the homeland was wise or frivolous (or described otherwise)? Explain and defend your answer fully.
What is the value of using carefully selected terminology for operations in the homeland?
How does the symbolism of IAA potentially aid homeland security professionals in performing their jobs?
How does the symbolism of ISR potentially hinder homeland security professionals in performing their jobs?
Among the Web sites listed for this unit, you will find the Air Forces North (AFNORTH) Incident Awareness and Assessment Handbook, June 2010.
Why do you think this manual on IAA is available from open-source sites?
Do you think there might be ethical considerations to publicizing the use and purposes of IAA? Name and discuss at least 1.
Homecoming is an annual tradition in the United States. In this repo.docxAbramMartino96
Homecoming is an annual tradition in the United States. In this report you are going to provide a background information about Homecoming (for example, what is homecoming, what type of activities do people do, why it is celebrated in the U.S….) You must report your findings in an essay format (at least two long paragraphs) and cite any resources that you use.
.
Homer
Assignment
II
Read
three
of
the
books
from
The
Odyssey
including
Book
I.
Choose
one
character
and
trace
that
character’s
traits
throughout
your
reading
assignment.
Write
a
five-‐paragraph
character
analysis-‐interesting
insights
about
the
character-‐of
the
character
of
your
choice.
Choose
from
the
books
listed
below:
Book
I:
You
MUST
read
Book
I.
Invocation
and
part
summary
–council
of
the
gods-‐
Athena
visits
Telemachos
in
Ithaka
and
urges
him
to
go
in
search
of
his
father-‐the
suitors
feast
in
the
house
of
Telemachos.
Book
VIII:
Odysseus
at
the
games
of
the
Phaiakians-‐
he
is
asked
top
tell
his
name
and
his
story.
Book
XIII:
Return
of
Odysseus
to
Ithaka-‐
hi
is
landed,
alone-‐
strange
return
of
the
Phaiakian
ship-‐Athena
comes
to
Odysseus
and
advises
him.
Book
XVI:
Telemachos
visits
Eumaios-‐Odyssues
reveals
himself
to
Telemachos-‐Penelope
and
suitors
learn
that
Telemachos
has
returned-‐
night
at
the
house
of
Eumaios.
Book
XXI:
The
test
of
the
bow-‐the
suitors
fail-‐Odysseus
succeeds.
Book
XXII:
The
killing
of
the
suitors-‐punishment
of
the
faithless
maids
and
thrall.
Book
XXIII:
Recognition
of
Odysseus
by
Penelope-‐reunion-‐Odysseus
goes
to
Laertes’
farm.
.
Homelessness in America has been a problem since the settlement of t.docxAbramMartino96
Homelessness in America has been a problem since the settlement of the country.
How has society’s response to that population changed over time? Consider the following in your response: Cite references. Min 200 words
·
How has society’s response to that group changed over the past 300 years?
·
How has it changed in your lifetime?
·
What changes do you anticipate in society’s response in the next 50 years?
·
What factors have influenced those changes?
.
Homework Assignments One pagewhat the functional currency .docxAbramMartino96
Homework Assignments One page
what the functional currency for Johnson& Johnson
Research your JOHNSON&JOHNSON and report on any major issue(s) of international taxation that is (are) addressed in this chapter.
Post this assignment in the chapter conference.
Discuss how your JOHNSON&JOHNSON handles transfer pricing.
Topics of discussion can include but are not limited to:
Are transfers from a subsidiary to its parent (upstream)? From the parent to a subsidiary (downstream)?
Or from one subsidiary to another of the same parent?
Transfer pricing methods?
What are the objectives of your JOHNSON&JOHNSONs transfer pricing practices?
What law(s) govern your JOHNSON&JOHNSONs practices?
What method is used?
The enforcement of transfer pricing regulations in the country where you JOHNSON&JOHNSON is located?
.
Homework Assignment Company Research This assignment req.docxAbramMartino96
Homework Assignment: Company Research
This assignment requires you to research a company which is (
The Union Pacific Railroad
)
. You are to assume that you will be interviewing with this company for a job right after graduation. As such, you want to perform in-depth research about your company so you will be the best prepared candidate to be interviewed. Your goal is to learn as much as you can about the company including their strengths and weaknesses. Your research should include
Marketing issues due
·
Product market (major products)
·
Geographic market (where it operates –
local, regional, national, international)
·
Competitors
·
Brands
Current issues
·
Effect of current economic recession
·
Opportunities for and threats to the company based on current and projected events
·
Strengths and Weaknesses
·
Career opportunities
Financial issues
·
Trend analysis (e.g. trends in income, stock price, dividends)
·
Financial stability
Management issues
·
Core competency
·
Innovation (evidence that the company is or is not innovative)
·
Ethics and social responsibility (evidence of the company’s values and how those values have been reflected in its conduct)
·
Sustainability
Overview of the company
·
History
·
Mission
·
Vision
·
Organizational Structure
·
Primary industry(ies) in which it operates
Written Summary and Reference List
·
A five to eight page well organized executive summary of your company as well as a list of the references used. The reference list should be formatted according to APA style. Additionally, your team must provide evidence of “collaborative effort”, (Meeting Agendas, Minutes, etc.)
.
Homework Assignment #1Directions Please answer each of the foll.docxAbramMartino96
Homework Assignment #1
Directions: Please answer each of the following questions in as detailed a manner as possible, and be sure to include all appropriate material discussed in the lectures and the assigned reading material.
1) Define what we mean by money and how it is used in the day to day functioning of the U.S. economy. Be sure to include the major components that make up what is defined as money and which of these components is used most widely to identify what money is. Also, include the major functions that money serves as a part of the overall economy and how banks act to create and maintain money.
2) Name and discuss the four major theories that address the term structure of interest rates. In your discussion, indicate the strengths and weaknesses of each of the theories and which theory or theories appear to be the most well accepted as explanations of term structure.
3) Explain the role that money plays under the Classical Macroeconomic Model. As a part of your discussion, include the impact the Quantity Theory of Money and Say’s Law have on this model and state in algebraic terms how the money supply relates to prices.
4) Compare and contrast pure discount bonds with coupon bonds and provide at least one example of such government or corporate bonds that can be bought and sold by investors. Describe the way interest rates are determined for these bonds by using the appropriate formula or formulas and explain the overall relationship between bond prices and interest rates.
.
Homework Assignment 9Due in week 10 and worth 30 pointsSuppose t.docxAbramMartino96
Homework Assignment 9
Due in week 10 and worth 30 points
Suppose that there are two (2) candidates (i.e., Jones and Johns) in the upcoming presidential election. Sara notes that she has discussed the presidential election candidates with 15 friends, and 10 said that they are voting for candidate Jones. Sara is therefore convinced that candidate Jones will win the election because Jones gets more than 50% of votes.
Answer the following questions in the space provided below:
Based on what you now know about statistical inference, is Sara’s conclusion a logical conclusion? Why or why not?
How many friend samples Sara should have in order to draw the conclusion with 95% confidence interval? Why?
How would you explain your conclusion to Sara without using any statistical jargon? Why?
.
Homework Assignment 4 Guidelines1. Write the paper in Microsoft Wo.docxAbramMartino96
Homework Assignment 4 Guidelines
1. Write the paper in Microsoft Word or in a comparable program saved as a Word document.
2. The text should be in 12 point CG Times, Times Roman, or New Times Roman.
3. Single spacing is fine but skip a line between questions.
4. Use a spell checker!
5. Include the corresponding question before each answer in your document.
6. Use Chicago or Turabian style citations to inform me of exactly where you found the information to answer the questions. The citation formatting does not need to be perfect, but do your best. For citation guides please see http://hub.miracosta.edu/library/ResearchGuides/Chicago.pdf
7. The title of the assignment in the Bb Section Folder is a hyperlink that opens the Assignment Submission window. Click to open. Upload your file. Copy the text of your assignment into the Assignment Materials text box on the assignment upload page. Make sure the formatting is cool by previewing before you submit.
8. Submit the assignment before the deadline.
Part A) A Reaction to Racism in American Literature, Art, and Music In the latter part of the 19th century, "Realism" became the dominant feature in American literature and influenced the Progressive Era writers of the early 20th century. In the years immediately following World War I, a number of American authors of the realist school began to explore race relations. Dramatists such as Eugene O'Neill and Paul Green wrote plays based on African American themes. O'Neill's The Emperor Jones (1920) and All God's Chillun Got Wings (1924) were immensely popular. Green won the Pulitzer Prize for In Abraham's Bosom, a play performed by a predominately African American cast in a period when few African American artists were able to find work outside vaudeville or minstrel shows. At the same time, a number of African American writers came to prominence writing novels and poetry based on their experiences as African Americans. This literary movement, originally centered in Harlem, New York, became known as the "Harlem Renaissance" (1920s-1930s). It was the outgrowth of a number of factors including the Great Migration to northern cities and the growing anger over both overt and covert racism. Authors, musicians, and painters gathered in Harlem and in other large urban areas throughout the North and developed a distinctly African American cultural movement cognizant of the political, economic, and social issues of prejudice and discrimination that were part of the Black experience in America. Historians have described the Harlem Renaissance as a period in which the African American writer ". . . had achieved a degree and kind of articulation that make it possible for him to transform his feelings into a variety of literary forms. Despite his intense feelings of hate and hurt, he possessed sufficient restraint and objectivity to use his materials artistically, but no less effectively." (John Hope Franklin, From Slavery to Freedom: A History of African Americans, .
Hi we are a group doing a research and we split up the work ev.docxAbramMartino96
Hi
we are a group doing a research and we split up the work every one took apart and my part is to do
the Value Chain Analysis only
FOR the
company in question
(
company info you will find it in the attachment
)
so
there is no need to do introduction or anything
else just go directly to the topic and start doing the Value Chain Analysis
instruction in general
1-
12 font Double space
2-
2-3 pages maximum
3-
Add appendix
4-
Reliable sources important
I will check plagiarism just in case
Specific
my part is to do the value chain analysis only again do not write introduction or any thing just start with the analysis
please do not waste my and your time
read the attachment carefully first then start do the reaserch
if you have any regards
contact me
.
hi I need research paper about any topics in Manufacturing Proc.docxAbramMartino96
hi
I need research paper about any topics in
Manufacturing Processes
a.
To introduce students to some of the fundamentals of materials (behavior and manufacturing properties)
b.
To give students a working knowledge of production processes of casting, forming and shaping, machining and machine tools, sheet metal, and joining processes
c.
To introduce students computer integrated manufacturing, flexible manufacturing systems and other modern technologies in manufacturing
d.
To give students common aspects of manufacturing including statistical control and life expectancy of some products.
e.
Students will design a simple artifact, present case studies or designs, and write reports
.
HMIS Standards Please respond to the followingFrom the e-A.docxAbramMartino96
"HMIS Standards"
Please respond to the following:
From the e-Activity, determine a key factor that has delayed the widespread implementation of electronic health records in health care organizations. Provide an example of the effects of each factor to support your rationale.
Determine two areas where HIPPA has influenced the development of HIMS standards. Justify your response.
.
Hi i need a paper about (Head On )German film ( Turkey part)3 to.docxAbramMartino96
Hi
i need a paper about (Head On )German film ( Turkey part)
3 to 5 sentences each
Summary:
Time context:
Details about the film:
Thesis: explain
Characters:
Camera technique:
Light:
Music:
Situation effects:
Power struggle:
Sources: 3 academic
.
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This document provides information on assignments for an online course on legal, ethical, and professional issues in counseling. It outlines 8 weekly assignments that cover topics like developing a professional counselor identity, analyzing ethics complaints, researching counseling credentials, learning about HIPAA requirements, addressing multiple relationships and boundary issues, counselor self-care, applying learning to case scenarios, special considerations for counseling populations, and an integrative paper. Students complete individual and team assignments involving research, analysis, reflection, and presentations to develop their understanding of counseling ethics, law, and professional identity.
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This document provides 5 examples of application letters for jobs. Each example letter summarizes the applicant's qualifications, such as their relevant academic and professional background, and expresses interest in the position and how it aligns with their career goals. The letters compliment the employer, demonstrate the applicant's skills are relevant to the job requirements, and request an interview.
Please read the relevant parts of your textbook, which refer to ca.docxLeilaniPoolsy
Please read the relevant parts of your textbook, which refer to cash flow and financial planning.
To avoid any uncertainty regarding his business' financing needs at the time when such needs may arise, Cyrus Brown wants to develop a cash budget for his latest venture: Cyrus Brown Manufacturing (CBM). He has estimated the following sales forecast for CBM over the next 9 months:
March
$100,000
April
$275,000
May
$320,000
June
$450,000
July
$700,000
August
$700,000
September
$825,000
October
$500,000
November
$115,000
He has also gathered the following collection estimates regarding the forecast sales:
· Payment collection within the month of sale = 25%
· Payment collection the month following sales = 55%
· Payment collection the second month following sales = 20%
Payments for direct manufacturing costs like raw materials and labor are made during the month that follows the one in which such costs have been incurred. These costs are estimated as follows:
March
$187,500
April
$206,250
May
$375,000
June
$337,500
July
$431,250
August
$640,000
September
$395,000
October
$425,000
Additional financial information is as follows:
· Administrative salaries will approximately amount to $35,000 a month.
· Lease payments around $15,000 a month.
· Depreciation charges, $15,000 a month.
· A one-time new plant investment in the amount of $95,000 is expected to be incurred and paid in June.
· Income tax payments estimated to be around $55,000 will be due in both June and September.
· And finally, miscellaneous costs are estimated to be around $10,000 a month.
· Cash on hand on March 1 will be around $50,000, and a minimum cash balance of $50,000 shall be on hand at all times.
To receive full credit on this assignment, please show all work, including formulas and calculations used to arrive at the financial values.
Group Project Guidelines
· As a group, prepare a monthly cash budget for Cyrus Brown Manufacturing for the 9-month period of March through November.
· Use Excel to prepare the monthly cash budget.
· Based on your cash budget findings, answer the following questions:
· Will the company need any outside financing?
· What is the minimum line of credit that CBM will need?
· What do you think of CBM's cash position during the budget period? Do you see any concerns for the company in this regard?
· If you were a bank manager, would you want CBM as your client? Why or why not?
· It is up to the members of the group to divide the assignment tasks evenly. You will be graded on group participation
Your submitted Group Project (150 points) must include the following:
· 75 Points. An Excel spreadsheet that contains your group's monthly cash budget for Cyrus Brown Manufacturing.
· 75 Points. A double-spaced Word document of 1–2 pages that contains your answers to the questions listed in the Assignment Guidelines.
Grading
.
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Your name _________________________________ Date of submission _.docxnettletondevon
Your name: _________________________________ Date of submission: ______________________
ENG201 Milestone 4: #MyWordsChangeLives Project Outline
#MyWordsChangeLives Project Outline
#wordschangelives
Instructions: Save this document on your own computer. Type into each box and expand it as needed for the length of your response. Answer thoroughly!
PART 1: PERSONAL REFLECTION
TOPIC: What is one problem, issue, or need in the world, or in your own community, that you care a lot about?
PERSONAL CONNECTION: Why is this particular issue important to you? Is there something in your life experience or academic studies that relates?
ROOT CAUSE HYPOTHESIS: What do you think are some of the root causes of this issue? Explain.
AUDIENCE HYPOTHESIS: Based on the causes you have identified, who would be a good audience for you to try to make a change on this issue? Why?
RESEARCH QUESTIONS: The next step is research, What are 3 questions related to your issue that you want to answer during your research? Think of information that might help you better understand the issue in order to address or solve it.
PART 2: RESEARCH SUMMARY
SOURCE #1: Include APA-formatted citation here, including link if applicable:
How can you tell that this is a reliable source?
In this column, make a list of the most important facts or statistics you learned from this source:
In this column, explain in your own words why the facts you included to the left are important:
What was the most important thing you learned from this source? Why?
SOURCE #2: Include APA-formatted citation here, including link if applicable:
How can you tell that this is a reliable source?
In this column, make a list of the most important facts or statistics you learned from this source:
In this column, explain in your own words why the facts you included to the left are important:
What was the most important thing you learned from this source? Why?
SOURCE #3: Include APA-formatted citation here, including link if applicable:
How can you tell that this is a reliable source?
In this column, make a list of the most important facts or statistics you learned from this source:
In this column, explain in your own words why the facts you included to the left are important:
What was the most important thing you learned from this source? Why?
PART 3: PROJECT PLANNING OUTLINE
CREATE YOUR OWN TEXT-BASED CAMPAIGN!
Start outlining the components of your final project here.
You will explain each choice in greater detail and polished prose for your final project.
Headline: What is the “headline” of your campaign? What phrase or hashtag will you use? Why those words?
Message: What is the subtext of the campaign? In other words, what messages are you communicating by the headline?
Audience: With whom is your campaign de.
1. Make sure you’re providing realistic solutions to the issue you.docxketurahhazelhurst
1. Make sure you’re providing realistic solutions to the issue you are discussing, not that administration needs to fix it. The purpose of this assignment is not just to present a problem in detail. It’s also to provide realistic solutions.
2. There are some APA Guidelines to consider
a. Avoid excessive first-person language
b. Keep direct quotes to a minimum
c. All sections need headings to guide the reader
d. Make sure you have a purpose statement in the first paragraph
e. Provide a formal conclusion section
f. Make sure if you use abbreviations you define what they mean
3. Make sure to answer any questions the professor asked in the feedback on your Week 2 assignment and explore topics he suggested you address
The second assignment is a 5-page paper that builds on the first paper. You may want to consolidate your first assignment to make your argument more concise and allow space to answer all the suggestions for this new paper, which include:
1. Review the feedback you received on the first assignment, especially issues like:Add 2-3 additional references to support your presentation. You always may add more scholarly references to strengthen your argument.
a. Make sure you have a purpose statement and clearly labeled conclusion section
b. Use paragraph headings to guide the reader and make it easy for the professor to see where you have met the requirements for the assignment
c. Spell check your document
d. Make sure to follow APA Guidelines including minimal use of first-person language, direct quotes, and that everything is properly referenced. For instance if you’re going to mention your organization, put in the name of the organization: Acme Hospital, rather than misusing first person language and saying my organization.
e. This is not an editorial/opinion paper/assignment, thus all points you make must be supported with a scholarly reference.
f. Read the information I posted in the Announcement section with tips for writing an academic paper.
2. In terms of the specifics of this assignment, the new section added to your previous assignment should include:
a. Identification and description of at least two competing needs that impact the issue you addressed in your first assignment. Please note I may have made some suggestions in your feedback about what to make sure to address in this assignment.
b. Describe any relevant policies or practices in your organization or nursing in general, such as from professional organizations or regulatory bodies that may influence your topic.
c. Explore the moral and ethical considerations, related to your suggested solution to issue you selected. How does your solution specifically promote ethics?
d. Recommend one or more policy or practice change designed to balance the competing needs of resources, workers, and patients, while addressing any ethical and financial shortcomings of the existing policies. Be specific and provide examples. Please make sure your solution is financially viable, as an.
1. Make sure you’re providing realistic solutions to the issue you.docxjeremylockett77
Workplace violence, especially in psychiatric settings, is a significant issue that impacts both patient and staff safety. It can lead to injuries, high turnover rates among staff, and other problems. Several strategies have been found to help reduce violence, such as conducting risk assessments, providing de-escalation training to staff, implementing rapid response teams, improving nurse-patient ratios, and making environmental design changes. While ensuring complete safety is impossible, healthcare organizations should treat violence prevention as a high priority through implementing evidence-based practices and recommendations.
Similar to Members of the Portfolio CommitteeI greatly appreciate this opp (8)
Homework assignmentPlease annotate one artwork you like from this.docxAbramMartino96
Homework assignment:
Please annotate one artwork you like from this week’s textbook
reading or Smarthistory. Whenever I am writing for research
presentation or publication, this is how I begin. The point is to make
sure you’re not missing anything in terms of basic data or
interpretive frameworks. When I take notes on a lecture at a
conference, this is the way I like to organize my notes, as well.
Format
Identify the artwork
Identify Period Style
Identify Subject Matter
Discuss Historical Context
Discuss Visual Elements (Line, Color, Texture, Composition etc.)
Discuss Its Place in Ideas or Culture of the Time
.
Homeland Security efforts are ably reinforced by Homeland Defense an.docxAbramMartino96
Homeland Security efforts are ably reinforced by Homeland Defense and Defense Support of Civil Authorities (DSCA), which are missions executed by the Department of Defense (DOD), most specifically by the Combatant Command, United States Northern Command (USNORTHCOM). In supporting the nation when requested by DHS, FEMA, or other lead federal agencies, or as directed by the president or the secretary of defense, DOD provides many unique capabilities for crisis response. One specific function used most notably during the post-Hurricane Katrina period was the use of airborne assets to provide damage assessments and to gauge the extent of the sea surge at various times during the recovery.
The function of deploying such assets is traditionally called
intelligence, surveillance, and reconnaissance
(ISR). Yet the U.S. military cannot legally collect intelligence on U.S. citizens. Consequently, the action, as performed during the hurricane recovery operations described here, is known as
incident awareness and assessments
(IAA). For some, the difference between these terms is merely semantics; for many, IAA differs both symbolically and practically from ISR, if not in how information is collected, then in how it is used and the motivation behind the collection. (The Web site for IAA reference is under Web sites references below.)
Assignment Guidelines
Address the following in 5–7 paragraphs:
Do you believe the distinction between ISR and IAA lies simply with terminology (and therefore there is little or no difference) or that there is a separation between the concepts? Explain and defend your answer fully. You may choose to research the topic more fully.
Contemplating the ethics of using IAA in the homeland, list at least 3 benefits of its use where ethics might potentially be secondary.
List at least 2–3 costs or opposing views to its use and how IAA—or the information gathered—might be misused or abused.
What if criminal activity (like acres of tended marijuana) was observed during IAA missions intended to conduct damage assessments? How should such information be handled?
Do you believe converting the term
intelligence, surveillance, and reconnaissance
to
incident awareness and assessments
for operations conducted in the homeland was wise or frivolous (or described otherwise)? Explain and defend your answer fully.
What is the value of using carefully selected terminology for operations in the homeland?
How does the symbolism of IAA potentially aid homeland security professionals in performing their jobs?
How does the symbolism of ISR potentially hinder homeland security professionals in performing their jobs?
Among the Web sites listed for this unit, you will find the Air Forces North (AFNORTH) Incident Awareness and Assessment Handbook, June 2010.
Why do you think this manual on IAA is available from open-source sites?
Do you think there might be ethical considerations to publicizing the use and purposes of IAA? Name and discuss at least 1.
Homecoming is an annual tradition in the United States. In this repo.docxAbramMartino96
Homecoming is an annual tradition in the United States. In this report you are going to provide a background information about Homecoming (for example, what is homecoming, what type of activities do people do, why it is celebrated in the U.S….) You must report your findings in an essay format (at least two long paragraphs) and cite any resources that you use.
.
Homer
Assignment
II
Read
three
of
the
books
from
The
Odyssey
including
Book
I.
Choose
one
character
and
trace
that
character’s
traits
throughout
your
reading
assignment.
Write
a
five-‐paragraph
character
analysis-‐interesting
insights
about
the
character-‐of
the
character
of
your
choice.
Choose
from
the
books
listed
below:
Book
I:
You
MUST
read
Book
I.
Invocation
and
part
summary
–council
of
the
gods-‐
Athena
visits
Telemachos
in
Ithaka
and
urges
him
to
go
in
search
of
his
father-‐the
suitors
feast
in
the
house
of
Telemachos.
Book
VIII:
Odysseus
at
the
games
of
the
Phaiakians-‐
he
is
asked
top
tell
his
name
and
his
story.
Book
XIII:
Return
of
Odysseus
to
Ithaka-‐
hi
is
landed,
alone-‐
strange
return
of
the
Phaiakian
ship-‐Athena
comes
to
Odysseus
and
advises
him.
Book
XVI:
Telemachos
visits
Eumaios-‐Odyssues
reveals
himself
to
Telemachos-‐Penelope
and
suitors
learn
that
Telemachos
has
returned-‐
night
at
the
house
of
Eumaios.
Book
XXI:
The
test
of
the
bow-‐the
suitors
fail-‐Odysseus
succeeds.
Book
XXII:
The
killing
of
the
suitors-‐punishment
of
the
faithless
maids
and
thrall.
Book
XXIII:
Recognition
of
Odysseus
by
Penelope-‐reunion-‐Odysseus
goes
to
Laertes’
farm.
.
Homelessness in America has been a problem since the settlement of t.docxAbramMartino96
Homelessness in America has been a problem since the settlement of the country.
How has society’s response to that population changed over time? Consider the following in your response: Cite references. Min 200 words
·
How has society’s response to that group changed over the past 300 years?
·
How has it changed in your lifetime?
·
What changes do you anticipate in society’s response in the next 50 years?
·
What factors have influenced those changes?
.
Homework Assignments One pagewhat the functional currency .docxAbramMartino96
Homework Assignments One page
what the functional currency for Johnson& Johnson
Research your JOHNSON&JOHNSON and report on any major issue(s) of international taxation that is (are) addressed in this chapter.
Post this assignment in the chapter conference.
Discuss how your JOHNSON&JOHNSON handles transfer pricing.
Topics of discussion can include but are not limited to:
Are transfers from a subsidiary to its parent (upstream)? From the parent to a subsidiary (downstream)?
Or from one subsidiary to another of the same parent?
Transfer pricing methods?
What are the objectives of your JOHNSON&JOHNSONs transfer pricing practices?
What law(s) govern your JOHNSON&JOHNSONs practices?
What method is used?
The enforcement of transfer pricing regulations in the country where you JOHNSON&JOHNSON is located?
.
Homework Assignment Company Research This assignment req.docxAbramMartino96
Homework Assignment: Company Research
This assignment requires you to research a company which is (
The Union Pacific Railroad
)
. You are to assume that you will be interviewing with this company for a job right after graduation. As such, you want to perform in-depth research about your company so you will be the best prepared candidate to be interviewed. Your goal is to learn as much as you can about the company including their strengths and weaknesses. Your research should include
Marketing issues due
·
Product market (major products)
·
Geographic market (where it operates –
local, regional, national, international)
·
Competitors
·
Brands
Current issues
·
Effect of current economic recession
·
Opportunities for and threats to the company based on current and projected events
·
Strengths and Weaknesses
·
Career opportunities
Financial issues
·
Trend analysis (e.g. trends in income, stock price, dividends)
·
Financial stability
Management issues
·
Core competency
·
Innovation (evidence that the company is or is not innovative)
·
Ethics and social responsibility (evidence of the company’s values and how those values have been reflected in its conduct)
·
Sustainability
Overview of the company
·
History
·
Mission
·
Vision
·
Organizational Structure
·
Primary industry(ies) in which it operates
Written Summary and Reference List
·
A five to eight page well organized executive summary of your company as well as a list of the references used. The reference list should be formatted according to APA style. Additionally, your team must provide evidence of “collaborative effort”, (Meeting Agendas, Minutes, etc.)
.
Homework Assignment #1Directions Please answer each of the foll.docxAbramMartino96
Homework Assignment #1
Directions: Please answer each of the following questions in as detailed a manner as possible, and be sure to include all appropriate material discussed in the lectures and the assigned reading material.
1) Define what we mean by money and how it is used in the day to day functioning of the U.S. economy. Be sure to include the major components that make up what is defined as money and which of these components is used most widely to identify what money is. Also, include the major functions that money serves as a part of the overall economy and how banks act to create and maintain money.
2) Name and discuss the four major theories that address the term structure of interest rates. In your discussion, indicate the strengths and weaknesses of each of the theories and which theory or theories appear to be the most well accepted as explanations of term structure.
3) Explain the role that money plays under the Classical Macroeconomic Model. As a part of your discussion, include the impact the Quantity Theory of Money and Say’s Law have on this model and state in algebraic terms how the money supply relates to prices.
4) Compare and contrast pure discount bonds with coupon bonds and provide at least one example of such government or corporate bonds that can be bought and sold by investors. Describe the way interest rates are determined for these bonds by using the appropriate formula or formulas and explain the overall relationship between bond prices and interest rates.
.
Homework Assignment 9Due in week 10 and worth 30 pointsSuppose t.docxAbramMartino96
Homework Assignment 9
Due in week 10 and worth 30 points
Suppose that there are two (2) candidates (i.e., Jones and Johns) in the upcoming presidential election. Sara notes that she has discussed the presidential election candidates with 15 friends, and 10 said that they are voting for candidate Jones. Sara is therefore convinced that candidate Jones will win the election because Jones gets more than 50% of votes.
Answer the following questions in the space provided below:
Based on what you now know about statistical inference, is Sara’s conclusion a logical conclusion? Why or why not?
How many friend samples Sara should have in order to draw the conclusion with 95% confidence interval? Why?
How would you explain your conclusion to Sara without using any statistical jargon? Why?
.
Homework Assignment 4 Guidelines1. Write the paper in Microsoft Wo.docxAbramMartino96
Homework Assignment 4 Guidelines
1. Write the paper in Microsoft Word or in a comparable program saved as a Word document.
2. The text should be in 12 point CG Times, Times Roman, or New Times Roman.
3. Single spacing is fine but skip a line between questions.
4. Use a spell checker!
5. Include the corresponding question before each answer in your document.
6. Use Chicago or Turabian style citations to inform me of exactly where you found the information to answer the questions. The citation formatting does not need to be perfect, but do your best. For citation guides please see http://hub.miracosta.edu/library/ResearchGuides/Chicago.pdf
7. The title of the assignment in the Bb Section Folder is a hyperlink that opens the Assignment Submission window. Click to open. Upload your file. Copy the text of your assignment into the Assignment Materials text box on the assignment upload page. Make sure the formatting is cool by previewing before you submit.
8. Submit the assignment before the deadline.
Part A) A Reaction to Racism in American Literature, Art, and Music In the latter part of the 19th century, "Realism" became the dominant feature in American literature and influenced the Progressive Era writers of the early 20th century. In the years immediately following World War I, a number of American authors of the realist school began to explore race relations. Dramatists such as Eugene O'Neill and Paul Green wrote plays based on African American themes. O'Neill's The Emperor Jones (1920) and All God's Chillun Got Wings (1924) were immensely popular. Green won the Pulitzer Prize for In Abraham's Bosom, a play performed by a predominately African American cast in a period when few African American artists were able to find work outside vaudeville or minstrel shows. At the same time, a number of African American writers came to prominence writing novels and poetry based on their experiences as African Americans. This literary movement, originally centered in Harlem, New York, became known as the "Harlem Renaissance" (1920s-1930s). It was the outgrowth of a number of factors including the Great Migration to northern cities and the growing anger over both overt and covert racism. Authors, musicians, and painters gathered in Harlem and in other large urban areas throughout the North and developed a distinctly African American cultural movement cognizant of the political, economic, and social issues of prejudice and discrimination that were part of the Black experience in America. Historians have described the Harlem Renaissance as a period in which the African American writer ". . . had achieved a degree and kind of articulation that make it possible for him to transform his feelings into a variety of literary forms. Despite his intense feelings of hate and hurt, he possessed sufficient restraint and objectivity to use his materials artistically, but no less effectively." (John Hope Franklin, From Slavery to Freedom: A History of African Americans, .
Hi we are a group doing a research and we split up the work ev.docxAbramMartino96
Hi
we are a group doing a research and we split up the work every one took apart and my part is to do
the Value Chain Analysis only
FOR the
company in question
(
company info you will find it in the attachment
)
so
there is no need to do introduction or anything
else just go directly to the topic and start doing the Value Chain Analysis
instruction in general
1-
12 font Double space
2-
2-3 pages maximum
3-
Add appendix
4-
Reliable sources important
I will check plagiarism just in case
Specific
my part is to do the value chain analysis only again do not write introduction or any thing just start with the analysis
please do not waste my and your time
read the attachment carefully first then start do the reaserch
if you have any regards
contact me
.
hi I need research paper about any topics in Manufacturing Proc.docxAbramMartino96
hi
I need research paper about any topics in
Manufacturing Processes
a.
To introduce students to some of the fundamentals of materials (behavior and manufacturing properties)
b.
To give students a working knowledge of production processes of casting, forming and shaping, machining and machine tools, sheet metal, and joining processes
c.
To introduce students computer integrated manufacturing, flexible manufacturing systems and other modern technologies in manufacturing
d.
To give students common aspects of manufacturing including statistical control and life expectancy of some products.
e.
Students will design a simple artifact, present case studies or designs, and write reports
.
HMIS Standards Please respond to the followingFrom the e-A.docxAbramMartino96
"HMIS Standards"
Please respond to the following:
From the e-Activity, determine a key factor that has delayed the widespread implementation of electronic health records in health care organizations. Provide an example of the effects of each factor to support your rationale.
Determine two areas where HIPPA has influenced the development of HIMS standards. Justify your response.
.
Hi i need a paper about (Head On )German film ( Turkey part)3 to.docxAbramMartino96
Hi
i need a paper about (Head On )German film ( Turkey part)
3 to 5 sentences each
Summary:
Time context:
Details about the film:
Thesis: explain
Characters:
Camera technique:
Light:
Music:
Situation effects:
Power struggle:
Sources: 3 academic
.
Hi i have new work can you do it, its due in 6 hours Boyd, Ga.docxAbramMartino96
Hi
i have new work can you do it, it's due in 6 hours
Boyd,
Gayle M.,
Jan Howard,
and
Robert A. Zucker
.
Alcohol Problems among Adolescents: Current Directions in Prevention Research.
Psychology Press
, 2013.
Lowe, Geoff
,
David R. Foxcroft,
and
David Sibley
.
Adolescent Drinking and Family Life
.
Taylor & Francis, 1993
.
National Institute on Alcohol Abuse and Alcoholism.
Underage Drinking: A Major Public Health Challenge
. Apr. 2003. Web. 10 Oct. 2016.
Office of Juvenile Jus
tice and Delinquency Prevention.
Effects and Consequences of Underage Drinking
. Sept.
2012
. Web. 10 Oct. 2016.
I want you to chose any two of these sources and write two pergraph for each, total 4 pergraghs. Can you do it?
.
HIT Management and Implementation Please respond to the followi.docxAbramMartino96
"HIT Management and Implementation"
Please respond to the following:
Determine a key process in the delivery of health care services that would be more efficient and effective through the application of a specific model of HIT. Support your response.
Analyze the barriers to the implementation of HIMS in a complex adaptive system (CAS). Propose a strategy to help reduce the level of resistance from the clinical staff during a transition from CAS to HIMS innovations. Provide a rationale to support your response
"Innovationin HIMS"
Please respond to the following:
•Compare and contrast the functionality and efficiency of the complaint-push model and data-pull model within the process of health care service delivery. Recommend a strategy improving the effectiveness of each method for delivering patient care.
•Determine a significant aspect of a complex health care system that represents barriers to a more rapid diffusion of HIT. Next, suggest how these barriers can be removed or minimized. Support your rationale.
.
History and TheoryConsiderthe eras, life histories.docxAbramMartino96
History and Theory
Consider
the eras, life histories, and personalities of Freud and Rogers.
Identify
two research articles published in the last 5 years: one that investigates a psychoanalytic or Freudian construct and one that investigates a client-centered, humanistic, or Rogerian construct.
Write
a 700- to 1,050-word paper about Freud and Rogers that addresses the following:
Provide a summary of each article, highlighting the processes that contemporary psychologists use to develop the theories of Freud and Rogers.
Explain their views of human nature and their worldviews as expressed in their respective theories.
Which aspect of their theory do you think would be different if they were alive and working today?
Explain how social and cultural factors influenced the development of Freud's and Rogers' respective theories of personality.
Do
NOT
use about.com, psychology.about.com, ask.com, simplypsychology.org, AllPsych.com, SparkNotes.com, wikipedia, or other sources that are not scholarly in nature.
You
MUST
have a minimum of 2 scholarly sources as references. You may use your textbook but it does not count as one of these sources.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Read the Case of Jim in Chapter 6
Each team member should discuss the case using the humanistic theory as a model. Then use the humanistic theory to discuss how you would use it to assess the client.
Post an initial response
to this case analysis (approximately 350 words with at least 1 scholarly source).
THE CASE OF JIM
SEMANTIC DIFFERENTIAL: PHENOMENOLOGICAL THEORY
Jim completed ratings of the concepts self, ideal self, father, and mother using the semantic differential (
Chapter 5
), a simple rating scale. Although the semantic differential is not the exact measure recommended by Rogers, its results can be related to Rogerian theory since its procedures have a phenomenological quality and assess perceptions of self and ideal self.
First, consider how Jim perceives his self. Based on the semantic differential, Jim sees himself as intelligent, friendly, sincere, kind, and basically good—as a wise person who is humane and interested in people. At the same time, other ratings suggest that he does not feel free to be expressive and uninhibited. Thus, he rates himself as reserved, introverted, inhibited, tense, moral, and conforming. There is a curious mixture of perceptions: being involved, deep, sensitive, and kind while also being competitive, selfish, and disapproving. There is also the interesting combination of perceiving himself as being good and masculine but simultaneously weak and insecure. One gets the impression of an individual who would like to believe that he is basically good and capable of.
History of an argument Are there too many people There h.docxAbramMartino96
History of an argument: Are there too many people?
There have been several points in history at which someone has argued that we have too many people, and that this will be a problem.
Please do some research and choose at least one of these arguments to discuss in some detail in a paper of about 2-3 pages.
Who was making the argument?
Which people were identified as being too many?
Was a solution proposed, and if so, what was it?
Did the predicted overpopulation crisis come to pass, and why or why not?
How many people would be about right?
How many are too many?
Who decides?
What are the criteria for the decision?
The usual formatting and proper mechanics of good writing apply.
.
history essays- 1000 words each essay- mla and 2 works cited. every .docxAbramMartino96
history essays- 1000 words each essay- mla and 2 works cited. every question should be submitted in its own sheet.
1.Trace the patterns of international migration since 1970, with reference to at least two examples. How do these differ from migration patterns of a century earlier?
2.
Discuss advantages and disadvantages of globalization in contemporary world. Who has benefited and who has not? Has globalization brought the world together or driven it further apart?
.
Historical Background of Housing PolicyHousing is one of the requi.docxAbramMartino96
Historical Background of Housing Policy
Housing is one of the requirements in human life
(not true!)
. Therefore,
it
greatly influences the day to day life of citizens in a country as well as the country's economy. As a result of
its
importance, there
should be
secure policies in the state that protect citizens against exploitation and the economy of the nation
This is not a neutral statement of the evidence
(Turis, 2011).
Good
housing provided with essential social amenities means healthy lives for the citizens since
they will be enjoying all the services
. Poor housing, for instance, can result in health issues for the individuals of a given society. Crime rates are also found to be higher in places with inadequate housing and this
becomes a threat
may be a threat
to the security of the community.
The housing policy
,
??????
therefore, was formed
so as to
address the housing challenges facing the nation and its citizens (Turis, 2011).
indent
To deal with the housing problems
(what housing problems?)
the Section 8 Housing Choice Voucher program
(The correct name is Section 8 of the Housing Act of 1937 (42 U.S.C. § 1437f)
was established in 1974 as the Housing Act (Turis, 2011). This housing policy enables low income earners
to pay for houses of their choice
in the private market. The state funds the program and as a result, it benefits over five million low-income families as it enables them to pay for the housing
with ease
. Provision of
the
vouchers is one of the
policies
ways
in which
the state addresses the housing problem for its citizens (Turis, 2011). Compared to other policies
such as….
, vouchers provide a wider range of shelter and they are less expensive. For the low-income earners to use the vouchers, the kind of houses they find
should not
exceed the maximum allowable rent by the vouchers and must be in line with the program policies. The program also
covers a wide variety of houses
which include single family home; this was aimed at small families. Apartments and houses in towns are also covered by the program.
This description of the HCV is not clear.
indent
The housing voucher programs is managed by the Department of Housing and Urban Development (Kotz, 2012)
.
Public Housing Agencies (PHAs) are
the ones
responsible for carrying out the local programs outlines
(Kotz, 2012)
.
The mode of operation of this program is that an individual finds a suitable house for them to live and they pay rent to the landlords. The subsidy for the rent is paid by the PHAs to the owners of the house directly, and the person receiving such voucher will have to pay the remaining amount of money to the landlord (Kotz, 2012)
.
Therefore, in this program, the kind of benefits the citizens receive is subsidies on the rent they pay to the owners. A Certain amount is paid by the PHAs on the behalf of the low-income families, which makes houses relatively cheaper for citizens to choose where they want to li.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
Members of the Portfolio CommitteeI greatly appreciate this opp
1. Members of the Portfolio Committee:
I greatly appreciate this opportunity to reflect on my writing
and present my analysis to you. At this time, my writing has
progressed in the following ways: I have developed a much
more concrete concept of choosing the topic of my thesis
statement; I have learned when to appropriately add outside
sources to my position in order tostrengthen it; and I have
discovered how to effectively target my audience.
The most significant way my writing has progressed this
semester is through the development of my thesis statements; a
critical aspect of essay writing, particularly in a field such as
demanding as psychology. For example, in my initial essay
titled Blue Collar Brilliance, Indeed
my original thesis statement was too broad and did nothing to
make my stance on the subject obvious. In fact, my thesis
statement was actually located in my fifth paragraph: “These
perspectives are the symptoms of an archaic academic class
system held over from when university degrees were a
guaranteed means of achieving success to get ahead in life.” By
simply rearranging these sentences I neatly defined my thesis
and the entire essay. In our second assignment, which I named
The Television Disconnect, my thesis statement was firmly, if
bluntly,
placed as the final sentence in my first paragraph. This made it
very clear what my stance on the subject of television and
popular culture was by stating, “While the subject itself is
interesting and thoughtfully proposed ... (it was) ineffective and
unconvincing.” It may be a far cry from an ideal thesis
statement, but it’s certainly a step in the right direction.
Another way that I am becoming a more confident academic
writer is
through the use of quotes and source citations. In my initial
2. essay I was
encouraged to use quotes from Mike Rose, author of BlueCollar
Brilliance in order to clarify my agreement with his stance that
“intelligence is closely associated with formal education.” The
simple addition of a few quotes not only showed that I had
thoroughly read his work, it lent credibility to my own writing.
On the other hand, while TheTelevision Disconnect was amply
stocked with quotations from Steve Johnson’s chapter Watching
TV Makes You Smarter, I discovered that a lack of outside
source citations was needed to back up my claim that “an
increasing population abandoning the habit of television
watching that would fail to be impressed or moved by his
logic.” In this case, a cited quote from Jim Edwards of Business
Insider
was used to lend the credibility I needed. In short, my
confidence as an academic writer has been boosted by learning
how to present my ethos.
Finally, and most significantly, my ability to narrate to my
audience has and will continue to improve. In Blue Collar
Brilliance, Indeed, my audience was quite clearly those who
sympathize with the plight of the bluecollar worker
discriminated against because of their choice of education. I
showed this by adding a personal story from my own family
history and weaving it together with another example that had
become a viral internet story. However it appeared that in The
Television Disconnect I was less clear in who my audience was:
I was instructed to make my argument appealing to the current
generation of television viewers. To achieve this, I inserted
several sentences that targeted the divide Mr Johnson attempted
to create between generations. For example, I went into more
detail regarding how older generations of tv viewers might be
put off by his stance and how his justification of reality
television programming and violent video games was
patronizing to younger generations. Being clear who my
audience is will, undoubtedly, help me to connect with them and
3. effectively persuade them toward my position.
In conclusion, I believe my writing has already shown a great
deal of
improvement. I have earned how to write stronger academic
papers by
narrowing my thesis statement, adding outside sources, and
effectively
targeting my audience. However, I feel I now need to focus on
fleshing out my essays with tactics such as “the art of
metacommentary,” as described in The Moves That Matter in
Academic Writing: They Say, I Say, which will be covered in
the second half of the semester. That, I feel, is an area where I
need the greatest improvement in order to succeed as an
academic writer
Page 1 Kaplan Business School Assessment Outline
Assessment 2 Information
Subject Code: MBA403
Subject Name: Financial and economic interpretation and
communication
Assessment Title: Financial management essay and video
presentation
Assessment Type: Written essay and recorded verbal
presentation
4. Word Count: 2000 Words (+/-10%)
Video Length 5 minutes
Weighting: 35 %
Total Marks: 35
Submission: Turnitin and video submissions
Due Date: Week 9
Your Task
Students will select an ASX listed company and prepare a 2000-
word essay regarding its
financial (and non-financial) management.
Students will present the essay in a 5-minute video.
Assessment Description
• Students will write a financial management report and record a
video presentation on a
selected company, based on concepts learned in Weeks 1-8.
• Students will provide a clear recommendation to the
stakeholders of the selected company.
• Students will interpret financial and non-financial metrics and
analyse ethics issues related to
the selected company.
5. • The assessment addresses Learning Outcomes 1 to 3.
Assessment Instructions
• Students will select an ASX listed company that has currently
published financial statements
which meet accepted standards of financial reporting.
• The essay is limited to 2000 words (+- 200 words), excluding
the title page, bibliography and
appendices.
• The essay is to be formally written with sections for an
executive summary, analysis,
interpretation, conclusion, bibliography and appendix. See
Resource A below.
• The report is to be submitted via Turnitin
• The video is submitted via a separate dedicated link. The
MyKBS assessment page provides
a Guide and FAQs in relation to video assignments.
Page 2 Kaplan Business School Assessment Outline
Resource A – Financial Analysis Report content
Executive summary
6. The executive summary should be approximately 10% of total
word count. It provides
background to the company, the stakeholder the report is aimed
at, the purpose of the report
and a brief statement of the recommendation(s).
Analysis
The analysis will present and concisely discuss the key financial
results and performance
(including non-financial) indicators extracted from the
company’s annual report, including
significant changes in the financial results.
Consider using an appendix for detailed data tables or
calculations.
Interpretation
Discuss the company’s business activities and the financial
implications of the activities.
Interpret the causes of the changes in the company’s financial
performance.
Apply your financial ratios and non-financial indicators to
explain issues in the company’s
financial results.
Consider any risks, weaknesses or strengths that should be
highlighted.
This section may also cover the business strategy, competitors
7. and the outlook.
The analysis and interpretation sections combined should
comprise approximately 70% of
total word count.
Conclusion
The conclusion should be approximately 20% of total word
count. State a clear
recommendation that addresses the decision-making needs of a
stakeholder. For example,
recommend a decision to invest or not invest in the company (if
the Report is written for a
potential shareholder). Alternatively, make a specific
recommendation to improve the
financial performance of the company (if the Report is written
for an internal manager).
Justify recommendations by explaining how they will meet the
needs of the stakeholder.
Bibliography and In-text Citations
The Academic Integrity and Conduct Policy requires the
appropriate use of in-text citations
and a bibliography. You must cite all references (information
sources) and comply with the
expectations for academic writing.
The bibliography and citations are excluded from total word
count.
8. Page 3 Kaplan Business School Assessment Outline
IMPORTANT STUDY INFORMATION
Academic Integrity Policy
KBS values academic integrity. All students must understand
the meaning and consequences
of cheating, plagiarism and other academic offences under the
Academic Integrity and Conduct
Policy.
What is academic integrity and misconduct?
What are the penalties for academic misconduct?
What are the late penalties?
How can I appeal my grade?
Click here for answers to these questions:
http://www.kbs.edu.au/current-students/student-policies/.
Word Limits for Written Assessments
Submissions that exceed the word limit by more than 10% will
cease to be marked from the point
at which that limit is exceeded.
9. Study Assistance
Students may seek study assistance from their local Academic
Learning Advisor or refer to the
resources on the MyKBS Academic Success Centre page. Click
here for this information.
http://www.kbs.edu.au/current-students/student-policies/
https://elearning.kbs.edu.au/course/view.php?id=1481
Page 4 Kaplan Business School Assessment Outline
Marking Rubric
High
Distinction
Distinction High Credit Low Credit Pass
Quality of
writing the
Financial
Management
Report
Organizes and synthesizes
10. financial and non-financial
measures to reveal insightful
trends or developments related to
company performance.
Organizes financial and non-
financial measures to reveal
important trends or developments
related to company performance.
Discusses financial and non-
financial measures, but is not
effective in revealing trends or
developments related to company
performance.
Lists financial and non-financial
measures, but it is not organized
and / or is unrelated to company
performance.
Quality of
analysis and
interpretation in
Financial
Management
Report
Information is taken from multiple
and credible sources.
Information is interpreted to
develop a comprehensive analysis
to support actionable
recommendations.
11. Viewpoints of experts are
considered and questioned.
Information is taken from multiple
sources without clear regard for
credibility.
Information is interpreted to
develop a coherent analysis to
support actionable
recommendations.
Viewpoints of experts are
considered.
Information is taken from several
sources.
Information is discussed with little
interpretation. Recommendations
are not supported and/or
actionable.
Viewpoints of experts have noted
been considered.
Information is taken from a few
sources and presented without
any interpretation/ evaluation.
Quality of video
presentation
Video recording uses an
appropriate format, financial
management language, depth of
12. discussion and graphics in ways
that creatively explain why
stakeholders should implement
the recommendation(s).
Video recording uses an
appropriate format, financial
management language, depth of
discussion and graphics to convey
the analysis of financial and non-
financial performance.
Video recording uses an
appropriate format, language,
depth of discussion and graphics
to convey key points from the
report.
Video recording uses an
appropriate format to discuss the
contents of the report.
Sample structure doc
The sample structure below is provided as a guide to students
only. Students do not need to follow this strictly as we
encourage you to tailor your report where you feel it is
appropriate and according to the nature of the business and your
own independent research.
Please note that the KBS Library is a valuable resource,
including IBIS World reports, Morningstar reports and the
Australian Financial Review
13. Financial Analysis Report on [name of your company] by [your
name and student number]
Executive Summary [approx. 20% of word count]
· Company background: main business activities, main
geographic areas of operations.
· Purpose of report: which stakeholder is the report aimed at and
what is the purpose of the report for that stakeholder.
· A brief statement of your recommendation
Note that an Executive Summary enables the reader to capture
the key aspects of the report without having to read the full
report.
Analysis
· Present and discuss the key financial results and performance
indicators extracted from the company’s annual report. Detailed
tables can be provided in the Appendix.
· A concise commentary should explain the significant changes
in the financial results.
· Provide a minimum of 2 years and max of 5 years of financial
data.
· For trend analysis, at least 3 years is typically required. The
data below is for Harvey Norman (replace with your company’s
data).
· The following two tables may be combined.
Table 1 - Financial Statement Summary
(A$'m)
FY17
FY18
FY19
17. 3,159
3,420
3,546
- Change
21
261
126
- % Change
0.7%
8.3%
3.7%
Item 3
- Change
- % Change
· Select, calculate and present financial ratios for different
financial years. Ratio calculations to be provided in the
18. Appendix.
· Justify the inclusion of your chosen financial performance
indicators.
· Think about the stakeholder your report is aimed at: if the
stakeholder is an investor, include some sharemarket ratios. If
the stakeholder is management, you may want to focus on other
ratios.
· You may wish to include ratios not covered included in the
Workshop slides.
Table 3 - Ratio Analysis
Ratio Name
FY17
FY18
FY19
FY20
Profitability & Returns
Ratio 1
Ratio 2
19. Asset Management & Efficiency
Ratio 1
Ratio 2
Liquidity & Stability of Balance Sheet
Ratio 1
Ratio 2
20. Sharemarket Ratios
Ratio 1
Ratio 2
· Select and present relevant non-financial indicators.
· These may come from the company’s annual report or sources
beyond the company (identified through your research).
· Justify the inclusion of your chosen non-financial indicators.
Table 4 – Non-Financial Indicators
21. Ratio Name
FY17
FY18
FY19
FY20
Indicator 1
Indicator 2
Indicator 3
Interpretation [combined with Analysis should account for
approx. 70% of word count]
This section may include some or all of the following. Avoid
repetition, however, from points already covered in the Analysis
section.
· Discuss the company’s business activities and the financial
implications of the activities (but avoid repetition from the
Analysis section).
· Interpret the causes of the changes in the company’s financial
performance.
22. · Apply your financial and non-financial indicators to explain
trends and issues in the company’s financial results.
· Are there any risks / weaknesses / strengths to highlight.
These may be financial or non-financial (including
sustainability, environmental, social or ethical issues).
· What is the company’s current business strategy?
· Are there management issues to discuss?
· Should competitors be considered?
· Discuss the company’s outlook. This may include referring to
expert opinion, the economic outlook, industry competition, and
regulatory / policy factors.
Conclusion / Recommendation [approx. 20% of word count]
· What are your key findings and conclusions from your
Analysis and Interpretation?
· What are your recommendations? State a clear
recommendation that addresses the decision-making needs of a
stakeholder. For example, recommend investing or not investing
in the company (if the report is written for a potential
shareholder). Alternatively, make a strategic or operational
recommendation(s) to improve the financial performance of the
company if the report is written for an internal manager.
· Justify recommendations by explaining how they will meet the
needs of the stakeholder.
Bibliography
· You must correctly cite all references (information sources)
and comply with the expectations for academic writing.
· References beyond the company being studied are expected.
· The bibliography and citations are excluded from total word
count.
Appendix
23. · To include detailed data and calculations to avoid unnecessary
volume and distraction in the main report.
· Include ratio calculations as tabled below.
Ratio Calculations
FY17
FY18
FY19
FY20
Debt Ratio (Liabilities / Assets x 100)
Liabilities
1,377
1,640
1,601
2,351
Assets
4,190
4,578
4,799
5,829
Debt Ratio
32.9%
35.8%
33.4%
40.3%
Video Presentation
· Please view and adhere to the separate Students Video
24. Assignments Guide and Video FAQs for the correct way to
record and submit the video.
· Your video should be a summary of your report. As such, the
key areas to focus on should be:
· providing background information on your chosen company,
· outlining your clear recommendation to your stakeholder, and
· your rationale for that recommendation (based on your
research)
1
1
COMMONWEALTH OF AUSTRALIA
COPYRIGHT REGULATIONS 1969
WARNING
THIS MATERIAL HAS BEEN REPRODUCED AND
COMMUNICATED TO YOU BY OR ON BEHALF OF
KAPLAN BUSINESS SCHOOL PURSUANT TO PART VB OF
THE COPYRIGHT ACT 1968 (THE ACT).
THE MATERIAL IN THIS COMMUNICATION MAY BE
SUBJECT TO COPYRIGHT UNDER THE ACT. ANY
FURTHER REPRODUCTION OR COMMUNICATION OF
THIS MATERIAL BY YOU MAY BE THE SUBJECT
OF COPYRIGHT PROTECTION UNDER THE ACT.
DO NOT REMOVE THIS NOTICE.
25. 1
2
MBA403
FINANCIAL AND ECONOMIC
INTERPRETATION AND
COMMUNICATION
3
Interpret and communicate a wide range of actual financial
metrics to a
diverse group of stakeholders such that their understanding is
then
assured.
Apply accounting information to a variety of corporate decision
making
processes by sourcing and identifying the data of most
relevance.
Analyse ethical issues in finance and economics and how these
influence
business strategy in diverse business environments.
Integrate concepts of regional, national and global economic
behaviour to
aid business decision making.
26. Apply macroeconomic theory to assess global economies and
the
subsequent impact on business strategy.
MBA403 LEARNING OUTCOMES
4
MBA403 OVERVIEW
Study requirements: compulsory 3 hour Workshop per week
plus additional
self study.
Week 6 Industry Guest: attendance at ‘live’ Industry Guest
presentation in
Week 6 is expected, where possible.
MBA403 site: for Subject Outline, Assessment information and
Subject
Resources, including Workshop slides. View Announcements
frequently for
lecturer updates.
Resources: optional readings reinforce the Workshop content.
You will also
be required to source your own references such as company
annual reports
or independent research reports. Use of the Kaplan Library is
encouraged.
Participation: Active Workshop participation is expected from
all students.
‘Cameras on’ when online. Assessable Workshop quizzes will
27. be conducted.
5
MBA403 ASSESSMENTMBA403 ASSESSMENT OVERVIEW
(Additional detail provided in Subject Outline)
Assessment Details Weighting
Mode of
Submission
Submission
Date
Group Case Study
Calculations and
short answers
20%
On campus or
Online
Week 5
Financial
Management
Report & Video
2000 word report
plus 5 minute video
28. 30% Via Turnitin Week 9
Class Test
Multiple choice and
short answers
35%
On campus or
Online
Week 12
Participation
Knowledge check
quizzes
15%
On campus or
Online
Weeks 8, 10 and 11
6
Week 1:
MEASURING FINANCIAL
PERFORMANCE
29. 7
Week 1:
MEASURING
FINANCIAL
PERFORMANCE
• Purpose of Financial Statements
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial Statements
8
ANALYSIS
INTERPRETATION
INSIGHTS
COMMUNICATION
PURPOSE OF FINANCIAL STATEMENTS
“Knowing your numbers can help you transform all of your
business
relationships and give you a significant competitive advantage”
31. External Internal
Q1: IDENTIFY A
COMPANY’S
EXTERNAL AND
INTERNAL
STAKEHOLDERS?
Q2: WHY ARE THESE
GROUPS
INTERESTED IN OUR
FINANCIAL
STATEMENTS?
DISCUSSION
ACTIVITY
10
Who are our stakeholders?
External Internal
• Customers
• Suppliers
• Competitors
• Government
32. • Authorities
• Regulators
• Unions
• Community
• Interest
Groups
• Media
• Potential
Investors
• Lenders
• Analysts
• Board
• Shareholders
• Management
• Staff
DISCUSSION
ACTIVITY:
Answers
Q1: IDENTIFY A
COMPANY’S
33. EXTERNAL AND
INTERNAL
STAKEHOLDERS?
Q2: WHY ARE THESE
GROUPS
INTERESTED IN OUR
FINANCIAL
STATEMENTS?
11
WHAT DO THE FINANCIAL STATEMENTS TELL US?
• What is the company’s current financial position?
• To what extent have the owners benefited over the past year?
• How did the business perform over the period?
• Is the company generating adequate cash flow?
Financial Statements Explained in One MinuteVIDEO:
Balance
Sheet
Income Statement
Cash Flow
34. Statement
https://www.youtube.com/watch?v=6GVVTfj7ndc
12
• A snapshot of a company’s financial position at a point in time
• Tables the Assets of the business and the claims against those
assets, namely Liabilities and Equity (also known as Capital or
Net
Assets)
• Records a company’s sources of funds from Creditors and
Shareholders
• Must always balance, as per the identity:
ASSETS = LIABITIES + EQUITY
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
35. VIDEO: The Balance Sheet Explained
BALANCE SHEET
https://www.youtube.com/watch?v=ixCPM5HznRU
13
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
VIDEO:
BALANCE SHEET
ASSETS
• The resources ‘owned’ by
the business in order to
generate sales
• Examples: cash, inventory,
buildings, plant &
equipment, investments
36. LIABILITIES
• The financial obligations the
business has incurred
• Examples: loans, creditors
(suppliers), tax payable, accrued
employee entitlements
EQUITY (aka NET ASSETS or CAPITAL)
• Includes: initial shareholder capital
& retained earnings
• Net assets are the BALANCING ITEM
• Equals the accounting value of the
company should it be wound up
The Balance Sheet Explained
14
DETERMINE WHERE
EACH OF THESE
ITEMS WOULD BE
CLASSIFIED IN THE
THREE MAIN
SECTIONS OF THE
BALANCE SHEET
38. Answers
ASSETS LIABILITIES NET ASSETS
Contributed
Equity
Unearned
Revenues
Customer
Deposits
Doubtful
Debt
Provision
Retained
Profits
ReservesCreditors
DETERMINE WHERE
EACH OF THESE
ITEMS WOULD BE
CLASSIFIED IN THE
THREE MAIN
SECTIONS OF THE
BALANCE SHEET
Goodwill
Debtors
39. Prepaid
Insurance
Inventories
16
VIEW HARVEY
NORMAN’S
BALANCE SHEET IN
THE FOLLOWING
SLIDES AND
ANSWER THESE
QUESTIONS
LIABILITIES
• Is there anything unexpected on the balance sheet for a
business
we know as an appliance and household goods retailer?
• Are you able to able to determine from the balance sheet
whether
Harvey Norman has been profitable in previous years?
• Go to bloomberg.com (ASX code: HVN). Compare the market
value
of HVN to the net assets on the Balance Sheet (HINT: market
capitalisation = market value). What do you notice?
CASE STUDY
40. 17
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
VIDEO: The Balance Sheet Explained?
18
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
41. • Notes to the Financial
Statements
VIDEO: The Balance Sheet Explained?
19
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
VIDEO:
BALANCE SHEET
ADDITIONAL FEATURES
• The Balance Sheet distinguishes
between current & long-term
assets and current & long-term
liabilities
• Items are recorded on an
accrual rather than cash basis
42. LIMITATIONS
• Assets are often recorded at
historical valuations (this
particularly applies to
inventories)
• Certain intangible assets or
those unable to have a valuation
attached are omitted from the
balance sheet
• While the Balance Sheet
provides an estimate of the Net
Assets of the business, this will
often be quite different from its
market value
20
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
43. VIDEO: The Balance Sheet Explained
INCOME STATEMENT
• Also known as the Profit and Loss Statement
• Presents the results of a company’s operations, namely its
profitability over a period of time
• Tables the Revenues and Expenses of the business to provide a
Net
Profit (also known as Net Income or Earnings) figure
• A public company will also usually report Earnings Per Share
(a
measure used in valuing shares)
• Items are recorded on an accrual basis rather than a cash basis
What is an Income Statement?VIDEO:
https://www.youtube.com/watch?v=2RupCSFcY7w
21
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
44. • Cash Flow Statement
• Notes to the Financial
Statements
What is an Income Statement?
INCOME STATEMENT
REVENUES
• The value of goods or
services sold
• Other revenues received
• May be received as cash
or as accounts receivable
Less: EXPENSES
• Costs incurred to generate the
revenues
• Cost of Goods Sold (the direct costs
attributed to the provision of the
good or service) are often
separated from other expenses
Equals: NET PROFIT (aka NET INCOME
or EARNINGS)
• This is the company’s profit or loss
for the period
• Gross Profit (Sales less Cost of
45. Goods Sold) may be shown
separately
The Balance Sheet Explained
22
VIDEO:
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
23
• High debt levels
• Negative retained
earnings
DEVELOPING BUSINESS INSIGHTS 1
46. MATCH THE
BUSINESS OUTLOOK
TO THE INSIGHTS
GAINED FROM THE
BALANCE SHEET,
INCOME
STATEMENT &
BUSINESS
ENVIRONMENT
ACTIVITY
Balance Sheet
position
Profitability Business outlook
• Candidate for
business failure
• Recent sales
decline due to
recession
• Increased
competition has
eroded profitability
• Ample working capital
(current assets less
current liabilities)
47. • Debt levels are high
& interest rates are
rising
• Now trading
profitably after early
start up phase
• Has the resources
to weather the
downturn
• Debt levels likely to
reduce going
forward
24
• Ample working capital
(current assets less
current liabilities)
DEVELOPING BUSINESS INSIGHTS 1ACTIVITY:
Answers
Balance Sheet
position
Profitability
• Debt levels are high
& interest rates are
rising
48. • Recent sales
decline due to
recession
• Increased
competition has
eroded profitability
• High debt levels
• Negative retained
earnings
• Now trading
profitably after early
start up phase
• Debt levels likely to
reduce going
forward
• Candidate for
business failure
• Has the resources
to weather the
downturn
Business outlook
MATCH THE
BUSINESS OUTLOOK
TO THE INSIGHTS
GAINED FROM THE
49. BALANCE SHEET,
INCOME
STATEMENT &
BUSINESS
ENVIRONMENT
25
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
VIDEO: The Balance Sheet Explained
CASH FLOW STATEMENT
• Reports all of a company’s cash inflows (positive) and cash
outflows
(negative) over a period of time
• Records the company’s sources and uses of cash
50. • Reconciles with the opening and closing cash balance in the
Balance
Sheet
• Cash flows are classified as Operating, Investing or Financing
• An important tool in understanding cash flows which are
critical for
business survival
• Items are recorded on a cash basis rather than an accrual basis
What is a Cash Flow Statement?VIDEO:
https://www.youtube.com/watch?v=9DcRJD9rbbQ
26
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
VIDEO: What is an Income Statement?
CASH FLOW STATEMENT
51. OPERATING
• Cash flows related to Net Income
• Examples: cash sales, wages paid,
interest paid on borrowings
INVESTING
• The purchase or sale of investment
items: securities, property, plant &
equipment
• Loans made and repayments
received
FINANCING
• Transactions related to financing
the business – borrowings and
repayments, shares issued,
dividends paid
27
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
52. • Cash Flow Statement
• Notes to the Financial
Statements
VIDEO:
28
MEASURING
FINANCIAL
PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
VIDEO: The Balance Sheet Explained?
29
MEASURING
FINANCIAL
PERFORMANCE
53. • Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the Financial
Statements
VIDEO: The Balance Sheet Explained?
30
DEVELOPING INSIGHTS 2
WITH LIMITED CASH
FLOW
INFORMATION
WHAT INSIGHTS CAN
YOU DERIVE
REGARDING THE
FINANCIAL POSITION
AND STRATEGIC
DIRECTION OF THIS
BUSINESS?
GROUP
ACTIVITY
55. Operating
Financial / Strategic
Position
Investing Financing
Negative Positive
Positive
Positive
Positive
Negative
Negative
Negative
Company 4
Company 5
Company 6
WITH LIMITED CASH
FLOW
INFORMATION
WHAT INSIGHTS CAN
YOU DERIVE
REGARDING THE
56. FINANCIAL POSITION
AND STRATEGIC
DIRECTION OF THIS
BUSINESS?
32
DEVELOPING INSIGHTS 2GROUP
ACTIVITY
Negative
Operating
Financial / Strategic
Position
Investing Financing
Positive Negative
NegativeNegativeNegative
Company 7
Company 8
WITH LIMITED CASH
FLOW
INFORMATION
WHAT INSIGHTS CAN
YOU DERIVE
57. REGARDING THE
FINANCIAL POSITION
AND STRATEGIC
DIRECTION OF THIS
BUSINESS?
33
DEVELOPING INSIGHTS 2
GROUP
ACTIVITY:
Answers
Positive
Operating
Financial / Strategic
Position
Investing Financing
Positive Positive
Negative
Negative
Negative
Positive
58. Positive
Positive
Co. 1 has operating cash inflow yet is
raising funds – possibly for an
acquisition?
Co. 2’s operating cash inflow is
funding loan repayments / dividends
and expansion via new investment
Co. 3 may be over leveraged, with
operating cash inflow and asset sales
directed towards lowering debt
WITH LIMITED CASH
FLOW
INFORMATION
WHAT INSIGHTS CAN
YOU DERIVE
REGARDING THE
FINANCIAL POSITION
AND STRATEGIC
DIRECTION OF THIS
BUSINESS?
34
DEVELOPING INSIGHTS 2
59. GROUP
ACTIVITY:
Answers
Positive
Operating
Financial / Strategic
Position
Investing Financing
Negative Positive
Positive
Positive
Positive
Negative
Negative
Negative
Co. 4’s operating cash inflow plus
borrowing / capital raising may be
funding expansion
Co. 5 is raising cash via divesting and
borrowing / new capital. It may be
anticipating an upturn in business
Co. 6 has operating cash outflow yet
60. new capital / borrowing is funding
investment. Co. 6 may be a startup
WITH LIMITED CASH
FLOW
INFORMATION
WHAT INSIGHTS CAN
YOU DERIVE
REGARDING THE
FINANCIAL POSITION
AND STRATEGIC
DIRECTION OF THIS
BUSINESS?
35
DEVELOPING INSIGHTS 2
GROUP
ACTIVITY:
Answers
Negative
Operating
Financial / Strategic
Position
Investing Financing
61. Positive Negative
NegativeNegativeNegative
Co. 7 is divesting to fund operating
cash outflow and loan repayments. A
recovery is needed to avoid failure
Co. 8 is investing despite operating
cash outflow and loan obligations.
The investment will need to succeed
WITH LIMITED CASH
FLOW
INFORMATION
WHAT INSIGHTS CAN
YOU DERIVE
REGARDING THE
FINANCIAL POSITION
AND STRATEGIC
DIRECTION OF THIS
BUSINESS?
36
MEASURING
FINANCIAL
PERFORMANCE
62. • Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the
Financial Statements
VIDEO:
NOTES TO THE FINANCIAL STATEMENTS
• Additional information about the totals from the financial
statements
for example, revenues by division or geography, age of debtors
and details of borrowing facilities
• Significant events after balance date such as material
transactions or
changes in conditions since the date of the financial statements
“COVID-19, as well as measures to slow the spread of
the virus, have since had a significant impact on global
economies and equity, debt and commodity markets.”
(Macquarie Group Annual Report, Year ended 31 March 2020)
37
MEASURING
FINANCIAL
63. PERFORMANCE
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Notes to the
Financial Statements
VIDEO: The Balance Sheet Explained
NOTES TO THE FINANCIAL STATEMENTS
• Summary of significant accounting policies
includes judgements, estimates and assumptions. For example,
how assets are valued or foreign currency items are treated
• Disclosure of relevant information not included in the
accounts
• Supplementary information required by the regulators
38
Next Workshop:
ANALYSING FINANCIAL
STATEMENTS
64. 1
COMMONWEALTH OF AUSTRALIA
COPYRIGHT REGULATIONS 1969
WARNING
THIS MATERIAL HAS BEEN REPRODUCED AND
COMMUNICATED TO YOU BY OR ON BEHALF OF
KAPLAN BUSINESS SCHOOL PURSUANT TO PART VB OF
THE COPYRIGHT ACT 1968 (THE ACT).
THE MATERIAL IN THIS COMMUNICATION MAY BE
SUBJECT TO COPYRIGHT UNDER THE ACT. ANY
FURTHER REPRODUCTION OR COMMUNICATION OF
THIS MATERIAL BY YOU MAY BE THE SUBJECT
OF COPYRIGHT PROTECTION UNDER THE ACT.
DO NOT REMOVE THIS NOTICE.
1
2
MBA403
FINANCIAL AND ECONOMIC
INTERPRETATION AND
COMMUNICATION
3
65. Week 7:
NON-FINANCIAL
BUSINESS PERFORMANCE
4
Week 7:
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial Information
• The Balanced Scorecard
• The Business Model Canvass
5
INTERPRETATION
ANALYSIS
INSIGHTS
COMMUNICATION
PURPOSE OF NON-FINANCIAL DATA
66. “In the new economy, information, education, and motivation
are everything”
(Bill Clinton)
FINANCIAL
STATEMENTS
SUSTAINABILTY
REPORTS
EXTERNAL
SOURCES OF
INFORMATION
BUSINESS
STRATEGY
DECISION
MAKING
STAKEHOLDER
ENGAGEMENT
NON-
FINANCIAL
DATA
ECONOMIC &
BUSINESS
ENVIRONMENT
67. 6
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
The Balance Sheet Explained
LIMITATIONS OF FINANCIAL NUMBERS
• Financials focus more on the past than the
future (or on outcomes rather than causes)
• May encourage a short term or narrow focus (at
the expense of long term performance)
• Do not reveal how business is done –
sustainably, ethically, responsibly
• Often conceal aspects such as efficiency or
innovation
• May not indicate the appropriate management
actions or business strategy
68. Note: this is not an exhaustive list
7
IMPORTANCE OF NON-FINANCIAL INFORMATION
Non-Financial information can help to answer questions
such as:
• Are our customers satisfied?
• Are we meeting objectives for product
quality and service?
• Is the team engaged?
• Is our business strategy succeeding?
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
8
69. IMPORTANCE OF NON-FINANCIAL INFORMATION
• Non-financial measures can reflect the company’s business
operations and strategy (example: website visits for an e-
commerce business)
• Are often more timely to compile and report on (particularly
valuable in a rapidly changing business environment)
• May be a superior guide to future profitability (tomorrow’s
financial performance may be driven by today’s non-
financial performance)
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
9
IMPORTANCE OF NON-FINANCIAL INFORMATION
• Can identify areas of strength and quantify intangible assets
such as intellectual capital or customer loyalty
70. • May help to identify specific areas of risk or poor
performance and the actions required to drive improvement
• Can be easier to communicate and understand than
financials (internally and externally)
• Is increasingly required by regulators, boards, shareholders
and other stakeholders
Note: this is not an exhaustive list
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
10
EXPLORE
WOOLWORTH’S
ANNUAL REPORT
FOR NON-
FINANCIAL
MEASURES
71. LIABILITIES
• Explore the FY20 Annual Report for key non-financial
measures
reported by Woolworths. Review the following areas of the
annual
report:
o Our impact (p2)
o Living our purpose and operating COVIDSafe (p4)
o Our key priorities (p6)
o Sustainability highlights (p10)
o Chairman’s report (p12)
o CEO’s report (p14)
• List a number of measures
• Discuss and share
CASE STUDY
11
EXPLORE
WOOLWORTH’S
ANNUAL REPORT
FOR NON-
FINANCIAL
72. MEASURES
LIABILITIES
• p2: Customers: Net Promoter Score 57, from 55 a year earlier
(a
measure of customer loyalty)
• p3: Environment: solar power generation up 54% on a year
earlier
• p6: Online: $3.5bn in online sales in FY20
• p6: Product: 131 new Fresh Made Easy products launched in
FY20
• p7: Stores: 29 (net) new stores opened during the year
• p12: Team: 80% engagement score (a measure of employee
satisfaction)
Note: this is not an exhaustive list
CASE STUDY:
Examples
12
NON-FINANCIAL INFORMATION
CONSIDER SOURCES
OF NON-FINANCIAL
INFORMATION AND
HOW FINANCIALS
73. CAN, AT TIMES, BE
MISLEADING
LIABILITIES
Topic 1: We’ve referred to the Annual Report but what other
sources
of non-financial information could we use for companies of
interest?
Topic 2: Recent Government policy seeks to encourage business
investment. Consider the policy below from the FY20
Commonwealth Budget. How do you expect the policy to
affect short term versus long term business profitability?
DISCUSSION
“From 6 October 2020 until 30 June 2022, businesses with
turnover up to $5 billion will be able to deduct the full
cost of eligible depreciable assets of any value in the year
they are first used or installed ready for use”
(source: budget.gov.au)
13
NON-FINANCIAL INFORMATION
CONSIDER SOURCES
OF NON-FINANCIAL
INFORMATION AND
HOW FINANCIALS
CAN, AT TIMES, BE
74. MISLEADING
LIABILITIES
Topic 1: Media and news outlets, external analysts, ratings
agencies, ASX announcements, survey data
Example (ZDNet and Refinitiv, 9th October 2020):
Woolworths speeds up online grocery orders
with automated fulfilment technology
According to Woolworths Group CEO Brad Banducci,
automating the picking of products will help dispatch
five times the online order volume of a standard
Woolworths store.
Topic 2: Investment incentives which allow full, immediate
expensing
(for tax reduction purposes) will lower reported profit in the
current period but boost future profitability (assuming the
investment proves successful).
DISCUSSION:
Answers
14
VIDEO: The Balanced Scorecard Explained
NON-FINANCIAL
BUSINESS
75. PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
THE BALANCED SCORECARD
”Measures that Drive Performance”*
The Balanced Scorecard is a strategic performance management
tool
devised by Dr Robert Kaplan and Dr David Norton and
published in
the Harvard Business Review. In summary, the Balanced
Scorecard:
• Translates an organisation’s vision and strategy into a set of
performance measures (financial and non-financial) “that gives
top
managers a fast but comprehensive view of the business”
• Incorporates operational measures that are the drivers of
future
financial performance; that is leading indicators that are
actionable
https://www.youtube.com/watch?v=M_IlOlywryw
15
76. The Balanced Scorecard Explained
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
THE BALANCED SCORECARD
”Measures that Drive Performance” *
The Balanced Scorecard enables management to look at the
business from 4 Perspectives:
1. Financial perspective. How do we look to shareholders?
Indicators relating to sales, costs, profitability, shareholder
value, cash flow and financial ratios
These tend to be backward looking or lagging indicators
2. Customer perspective. How do customers see us?
Measures the company’s success in achieving customer value
May include market share, number of new customers, Net
Promoter Score, customer service metrics
77. 16
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
THE BALANCED SCORECARD
”Measures that Drive Performance”*
3. Internal Business Processes perspective. What must we excel
at?
What are the core competencies needed? May include
measures of productivity (output per unit of input) or
efficiency, product defects, safety statistics
4. Learning and Growth perspective. Can we continue to
improve
and create value?
Focuses on long term growth, covering aspects including
innovation, investment, the pipeline of new products or
services, employee satisfaction, workforce skills and
development
78. 17
VIDEO:
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
THE BALANCED SCORECARD
”Measures that Drive Performance”*
The Balanced Scorecard can be used to not only monitor the
performance of the business but to assess the performance of
executives and team members
It helps to align individual responsibilities with the
organisation’s
vision and strategy
The following slides provide an example.
*Kaplan, R.S & Norton, D.P, “The Balanced Scorecard –
Measures that Drive
79. Performance”, Harvard Business Review, Jan-Feb 1992 issue
(available in
KBS library or https://hbr.org/1992/01/the-balanced-scorecard-
measures-
that-drive-performance-2)
https://hbr.org/1992/01/the-balanced-scorecard-measures-that-
drive-performance-2
18
EXAMPLE BALANCED SCORECARD
Position: Investment Portfolio Manager
Deliver Profit and Shareholder Return Target (40%):
- 1 yr and 3 yr investment returns on target (% pa)
- Team budget and headcount on target ($, No.)
Create Value for Customers (20%):
- Effective stakeholder engagement (subjective)
- Deliver excellent client service (Net Promoter Score)
- Provide high quality reporting (subjective)
FINANCIAL
CUSTOMER
80. 19
EXAMPLE BALANCED SCORECARD
Position: Investment Portfolio Manager
Manage risk within agreed parameters (20%)
- Effective risk management ($)
- �)
Drive a positive culture & engaged workforce (20%)
- Maintain / improve team engagement score (No.)
- Team learning and development (% undertaking
additional study)
INTERNAL
BUSINESS
PROCESSES
LEARNING
AND
GROWTH
20
BALANCED SCORECARD EVIDENCE
*
“It is estimated that 70% of organisations use
the balanced scorecard approach to
81. management”
“BSC companies achieved 3-year growth in
shareholder value of 45% compared with only
15% for non-BSC managed companies”
“Balanced Scorecard Hall of Fame companies ..
showed an average 3-year growth in shareholder
value of 150%”
*
Kaplan, R.S & Norton, D.P, The Palgrave Encyclopedia
of Strategic Management (2018), p 80-84
https://link-springer-
com.wwwproxy1.library.unsw.edu.au/search?facet-
creator=%22David+P.+Norton%22
21
Whether reported as a Balanced Scorecard or another way, there
are
important considerations in the choice of non-financial
measures.
• Non-Financial data should not require great time or cost to
compile
• Measures should be within management’s control rather than
subject to external influences
• A limited number of metrics is preferred to many (which may
at
times be conflicting)
82. • The measures must have a clear link to future business success
• The focus must be on achieving strategic goals, rather than
mechanistically pursuing non-financial targets
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
NON-FINANCIAL PERFORMANCE MEASURES
”What Works and What Doesn’t”*
22
NON-FINANCIAL
BUSINESS
MEASURES FOR
TWO VERY
DIFFERENT
BUSINESSES IN THE
SAME SECTOR
83. LIABILITIES
In selecting non-financial measures, most important is to
understand
your business model:
“The starting point is understanding a company’s value drivers,
the factors that
create stakeholder value. Once known, these factors determine
which measures
contribute to long-term success.”*
For Ferrari and Toyota consider how the non-financial measures
management considers important may differ.
Can you suggest examples that they may compile data on?
NON-FINANCIAL
MEASURES
ACTIVITY
* Ittner, C & Larcker, D, “Non-financial Performance Measures:
What Works
and What Doesn’t”,
https://knowledge.wharton.upenn.edu/article/non-
financial-performance-measures-what-works-and-what-doesnt/
https://knowledge.wharton.upenn.edu/article/non-financial-
performance-measures-what-works-and-what-doesnt/
23
THE BUSINESS MODEL
84. What is a Business Model?
There are many definitions yet the following are the essential
features:
• A business model is “conceptual, rather than financial”
• “is not a spreadsheet or computer model”
• A business model depicts or describes how “the enterprise
delivers value to customers, entices customers to pay for
value, and converts those payments to profit” *
* Teece, D.J., “Business Models, Business Strategy and
Innovation”, Long
Range Planning 43, 2010, p 172-194.
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
24
VIDEO: The Business Model Canvas for
85. NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
The Business Model Canvas is based on the work of
Osterwalder and Pigneur (2010).
It can be thought of as a ‘one page business plan’ that
presents a business model in the form of “nine basic
building blocks that show the logic of how a company
intends to make money“*
*Osterwalder, A. & Pigneur, Y., “Business Model Generation:
A Handbook
for Visionaries, Game Changers, and Challengers”, 2010.
THE BUSINESS MODEL CANVAS
https://www.youtube.com/watch?v=g4E3fhybhGM
25
Source: https://en.wikipedia.org/wiki/Business_Model_Canvas
KEY PARTNERS
86. • Who are our Key
Partners?
• Who are our key
suppliers?
VALUE PROPOSITIONS
• What value do we
deliver to the
customer?
• What problems are
we solving or needs
are we satisfying?
• What products and
services are we
offering to each
Customer
Segment?
CUSTOMER
RELATIONSHIPS
• The relationships
our Customer
Segments expect us
to have with them
CHANNELS
• The Channels by
which customers are
reached
87. • Which Channels are
most efficient?
KEY RESOURCES
• The resources
required for our
Value Propositions,
Distribution,
Customers, Revenues
KEY ACTIVITIES
• The activities
required for our
Value Propositions,
Distribution,
Customers, Revenues
CUSTOMER
SEGMENTS
• Who are we
creating value for?
• Who are our most
important
customers?
REVENUE STREAMS
• What are our customers willing to pay for?
• How are they currently paying and how would they
prefer to pay?
88. • How much does each Revenue Stream contribute to
overall revenues?
COST STRUCTURE
• What are our most important costs?
• Which Key Resources and Key Activities are most
expensive?
THE BUSINESS MODEL CANVAS
26
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
The 9 building blocks of the Business Model Canvas:
1. Value Propositions. The reason why customers turn to our
business over a competitor. This may include the
performance, innovation, price, design and status of the
product or service.
89. 2. Customer Segments. The different groups of people or
organisations the company aims to reach and serve. For
example, is it a mass market or niche offering?
3. Customer Relationships. How does the business interact
with customers. Is it a relationship based on personal
service or is it self-service / automated?
THE BUSINESS MODEL CANVAS
27
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
The 9 building blocks of the Business Model Canvas:
4. Channels. How a customer communicates with and reaches
its Customer Segments. This includes developing
awareness, assisting customers, capturing sales and
providing support.
5. Revenue Streams. How do we generate revenues? For
90. example, through sales, rentals, a subscription service or a
licensing arrangement? What is the pricing model?
6. Key Resources. The resources of the company may be
physical, financial, system-based, human or intellectual
(includes brands, proprietary knowledge, patents and
databases).
THE BUSINESS MODEL CANVAS
28
NON-FINANCIAL
BUSINESS
PERFORMANCE
• Non-Financial
Information
• The Balanced Scorecard
• The Business Model
Canvas
The 9 building blocks of the Business Model Canvas:
7. Key Activities. The most important actions a company must
take to operate successfully. They may involve production
or problem solving or be technology based.
8. Key Partners. A business’s supply chain may provide
resources and activities. Suppliers can help to reduce costs
by accessing economies of scale. Service providers can also
91. help to reduce risk and uncertainty.
9. Cost Structure. Is the business pursuing a low-cost strategy
or one based on value and differentiation? Is the cost
structure primarily fixed or variable?
THE BUSINESS MODEL CANVAS
29
POPULATE A SIMPLE
BUSINESS MODEL
CANVAS FOR UBER
LIABILITIES
BUSINESS
MODEL CANVAS
ACTIVITY
• In groups, populate a simple Business Model Canvas for
Uber, based on your understanding of the company
• Discuss and share
Uber’s mission:
“We ignite opportunity by setting the world in motion”
30
92. POPULATE A SIMPLE
BUSINESS MODEL
CANVAS FOR UBER
LIABILITIES
BUSINESS
MODEL CANVAS
ACTIVITY
BUSINESS MODEL CANVAS
31
Next Workshop:
BUSINESS ETHICS AND
SUSTAINABILITY
1
COMMONWEALTH OF AUSTRALIA
COPYRIGHT REGULATIONS 1969
WARNING
THIS MATERIAL HAS BEEN REPRODUCED AND
COMMUNICATED TO YOU BY OR ON BEHALF OF
KAPLAN BUSINESS SCHOOL PURSUANT TO PART VB OF
THE COPYRIGHT ACT 1968 (THE ACT).
93. THE MATERIAL IN THIS COMMUNICATION MAY BE
SUBJECT TO COPYRIGHT UNDER THE ACT. ANY
FURTHER REPRODUCTION OR COMMUNICATION OF
THIS MATERIAL BY YOU MAY BE THE SUBJECT
OF COPYRIGHT PROTECTION UNDER THE ACT.
DO NOT REMOVE THIS NOTICE.
1
2
MBA403
FINANCIAL AND ECONOMIC
INTERPRETATION AND
COMMUNICATION
3
Week 4:
INVESTMENT EVALUATION
(II)
4
Week 4:
94. INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost & Discounting
• Investment Evaluation (II)
o Net Present Value
o Cash Flow Forecasting
o Internal Rate of Return
o Cost of Capital
5
INVESTMENT EVALUATION II
How do we choose among a number of
alternative investments? Amongst the
techniques available to us are:
• Return on Investment
• Payback Period
Today we add:
• Net Present Value
• Internal Rate of Return
95. 6
INVESTMENT
EVALUATION I
• Return on Investment
• Residual Income
• Payback PeriodWHICH OF THE TWO
CASH FLOW
PROFILES FOR TILT’S
DYSART SOLAR
ENERGY FARM IS
PREFERRED?
DISCUSSION
Estimated Annual
Cash Flows ($m)
Profile A Profile B
2022 (Year 0) -200 -200
2023 (Year 1) 40 80
2024 (Year 2) 80 80
2025 (Year 3) 85 80
96. 2026 (Year 4) 90 80
2027 (Year 5) 95 70
Both profiles provide
the same total cash
inflow of $390m
over years 1 to 5.
Which one will Tilt’s
management select
and why?
(HINT: no
calculations are
required)
TIMING MATTERS
In Workshop 3 we considered a hypothetical cash flow profile
for the Tilt
Renewables Dysart Solar Energy Farm.
Instead of the original profile presented (Profile A below)
management has
now received a revised profile (Profile B below).
7
INVESTMENT
EVALUATION I
• Return on Investment
97. • Residual Income
• Payback PeriodWHICH OF THE TWO
CASH FLOW
PROFILES FOR TILT’S
DYSART SOLAR
ENERGY FARM IS
PREFERRED?
DISCUSSION:
Answer
Estimated Annual
Cash Flows ($m)
Profile A Profile B
2022 (Year 0) -200 -200
2023 (Year 1) 40 80
2024 (Year 2) 80 80
2025 (Year 3) 85 80
2026 (Year 4) 90 80
2027 (Year 5) 95 70
TIMING MATTERS
Profile B is preferred since returns are brought forward from
2025, 2026 and
2027 into 2023. Additionally, you may have noticed a shorter
98. Payback Period
for Profile B as well as more stable inflows, indicating a lower
level of risk.
This illustrates the
importance of the
timing of cashflows –
an aspect of
investment
evaluation captured
by the techniques of
Net Present Value
and Internal Rate of
Return.
40
Time Value of MoneyVIDEO:
https://www.youtube.com/watch?v=nfkqCv3Rd_g
8
• There is a cost to having funds committed or ‘tied up’. That
cost can be
represented by the actual cost of those funds (which we discuss
later) or
by a measure of ‘opportunity cost’ (see box below).
• Opportunity Cost can be represented by the:
inflation rate,
prevailing interest rate,
rate of return on alternative investments, or
a subjective ‘required rate of return’.
99. • We incorporate opportunity cost by ‘discounting’ future
values to an
equivalent or ‘opportunity cost adjusted’ present value.
Your opportunity cost of attending this Workshop may be 3
hours of income, time with friends or getting fit in the gym
(Workshop attendance is worth it, however!)
OPPORTUNITY COST: The benefit of the next best alternative
OPPORTUNITY COST AND DISCOUNTING
INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
9
• The Net Present Value (NPV) of an investment is the present
value of its
cashflows: inflows and outflows. We calculate the present value
of
100. each year’s cash flow and sum these to arrive at the NPV. We
then
apply the decision rule below.
• The NPV indicates the value (in today’s dollars) added to the
business
by undertaking the project.
• Positive NPV projects can be expected to increase market
valuations /
share prices, thereby enhancing shareholder wealth.
NET PRESENT VALUE - INTRODUCTION
Accept investments with a positive NPV
Reject investments with a negative NPV
An NPV of zero is borderline and may warrant further
consideration
NET PRESENT VALUE DECISION RULE:
X
-
INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
101. • Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
10
• We calculate present value by rearranging our Workshop 3
compound
rate of return formula (as shown on the LHS below).
The present value of a single future
cash flow:
The NPV of a series of future cash
flows and an initial outlay:
NET PRESENT VALUE - FORMULAE
PV =
FV
(1+r)n
• We calculate Net Present Value (NPV) as the sum of the
present values
of the cash flows associated with the investment (RHS above).
• The initial cost of the investment, being an outflow, has a
negative sign
102. and is usually not discounted (assuming it takes place at Year
0).
• The discount rate in the NPV calculation is generally referred
to as the
‘required rate of return’.
NPV =
FVn
(1+r)n
Σ
n
t=0
INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
11
103. NET PRESENT VALUE - EXAMPLE
Estimated Annual
Cash Flows ($m)
Present Value of Cash
Flows ($m)
2022 (Year 0) -200 -200
2023 (Year 1) 40 40 / (1.12)1 = 35.7
2024 (Year 2) 80 80 / (1.12)2 = 63.8
2025 (Year 3) 85 85 / (1.12)3 = 60.5
2026 (Year 4) 90 90 / (1.12)4 = 57.2
2027 (Year 5) 95 95 / (1.12)5 = 53.9
Sum of PV of Cash Inflows 271.1
Net Present Value 71.1
In Workshop 3 we considered a hypothetical cash flow profile
for the Tilt
Renewables Dysart Solar Energy Farm (Profile A) and
calculated the Payback
Period.
Below we calculate the NPV (assuming a 12% annual discount
rate).
Given a positive NPV of
$71.1m, the project
satisfies the criteria for
104. acceptance.
INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
12
FROM THE
INFORMATION
PROVIDED,
CALCULATE (USING
EXCEL) THE NET
PRESENT VALUE FOR
CROWN SYDNEY BY
CROWN RESORTS
ACTIVITY
105. The Crown Sydney hotel and casino opened in
late-2020. The construction cost for the project
was estimated at $1,127m (buildsydney.com).
Calculate the NPV of the project in 2020,
assuming the following (fictional) cashflows:
• all construction costs were incurred in 2020,
• yearly cash inflows, starting at $32m in 2021
and rising at 3.6% annually through to 2025,
• A $1,560m estimated market value for the
development at end-2025, and
• a 9% required rate of return.
(SPREADSHEET HINT: Place the required rate of
return in a single cell and reference your discounting
formulae to that cell – so you can easily change it
later)
NET PRESENT VALUE
13
Year Time
Annual
Cashflows
Discounted
106. Cashflows
2020 0 Initial Project Cost -1127.0 -1127.0
2021 1 Annual Cash Inflow 32.0 29.4
2022 2 Annual Cash Inflow 33.2 27.9
2023 3 Annual Cash Inflow 34.3 26.5
2024 4 Annual Cash Inflow 35.6 25.2
2025 5 Annual Cash Inflow 36.9 24.0
5 Estimated Market Value 1560.0 1013.9
Required Rate of Return 9%
NET PRESENT VALUE 19.8
$m
CROWN SYDNEY NET PRESENT VALUE ANALYSIS
FROM THE
INFORMATION
PROVIDED,
CALCULATE THE NET
PRESENT VALUE FOR
CROWN SYDNEY BY
CROWN RESORTS
ACTIVITY:
Answer
107. NET PRESENT VALUE
Given a positive NPV of
$19.8m, the project satisfies
the criteria for acceptance.
14
EXPLORE THE
IMPACT OF
CHANGING CASH
FLOWS OR THE
DISCOUNT RATE IN
NET PRESENT VALUE
CALCULATIONS
What is the relationship between the NPV and discount rate?
Use your spreadsheet to investigate the impact on NPV from
changing the
required rate of return or discount rate.
How would COVID-19 have impacted Crown’s NPV analysis of
Crown Sydney
(and are there any potential offsetting elements)?
NET PRESENT VALUE
ACTIVITY:
Discussion
108. Australian Financial Review, 3rd February 2020
15
• Takes account of the time value of money
• Indicates whether an investment will add value
• Considers the cost of capital and the degree of risk in a project
– both of which can be factored into the discount rate
NET PRESENT VALUE - ADVANTAGES INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
16
• The choice of discount rate can be somewhat subjective yet
critical to the outcome of the analysis
109. • Cashflow forecasts are required.
• NPV only indicates whether the project will meet / exceed the
required rate of return. It will not provide the actual rate of
return. Hence, we may also calculate the Internal Rate of
Return.
NET PRESENT VALUE - DISADVANTAGES INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
17
VIDEO: The Balance Sheet Explained
CASHFLOW FORECASTING
NPV analysis is a powerful tool. As with many quantitative
techniques, the
quality / accuracy of the output is related to that of the input.
110. Furthermore, the more distant the cashflows being forecast, the
greater are
the unknowns and the likelihood of error.
Hence, due care should be taken when forecasting cashflows.
The following
may assist in arriving at high quality forecasts.
• Use of reputable third-party forecasts (examples: GDP growth
/ inflation
from the RBA or population projections from the ABS).
• Past experience (where previous trends or developments are
seen as a
valuable guide to the future).
• Vertical comparisons (assessing trends in similar businesses or
businesses
that have been in similar situations previously).
• Sophisticated quantitative or econometric techniques
• Scenario Analysis, which we now turn to.
INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
111. • Internal Rate of Return
• Cost of Capital
18
VIDEO: The Balance Sheet Explained
SCENARIO ANALYSIS
Given the margin of error around any single forecast, one
approach is to
quantify possible alternative future paths. Often these take the
form of
optimistic and pessimistic scenarios.
An attraction of this approach is it’s flexibility. Probabilities
can be attached to
each scenario, allowing a probability weighted outcome to be
determined.
Returning to Crown Sydney, the cashflow profile we modelled
may have been
the result of the following scenario analysis.
Scenario: Optimistic Pessimistic
Probability
Weighted
Outcome
Description:
112. 2020 vaccine, rapid recovery of
global economic growth and
international travel
Delayed vaccine, ongoing
disruptions to international
travel yet modest recovery
Probability: 40% 60%
Year 1 Cashflow: $50m $20m $32m
Annual Growth: 6.0% 2.0% 3.6%
Value in Year 5: $2,100m $1,200m $1560m
CROWN SYDNEY CASHFLOW SCENARIO ANALYSIS
INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
113. • Cost of Capital
19
• An investment’s Internal Rate of Return (IRR) is its expected
annual
compound rate of return.
• It answers a slightly different question to that addressed by
NPV:
Net Present Value: Internal Rate of Return:
INTERNAL RATE OF RETURN
Is the NPV of the investment
greater than zero, at our
required rate of return?
• The IRR is the discount rate at which the PV of cash inflows
equals the
initial investment. It is the discount rate that results in an NPV
of zero.
• To calculate the IRR, a ‘trial and error’ approach can be taken
(using our
NPV spreadsheet) or the IRR Excel function can be used.
Is the breakeven discount rate
(NPV=0) greater than our
required rate of return?
Accept investments with an IRR > required rate or return
114. Reject investments with an IRR < required rate of return
An investment is borderline when IRR = required rate of return
IRR
DECISION
RULE
INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
20
CALCULATE THE
INTERNAL RATE OF
RETURN FOR
CROWN SYDNEY BY
CROWN RESORTS
ACTIVITY
115. From our earlier Net Present Value analysis of
the Crown Sydney hotel and casino, calculate
the Internal Rate of Return.
Does the Crown Sydney Internal Rate of Return
exceed the 9% required rate of return?
(HINT: Try progressively higher discount rates until
NPV = 0)
NET PRESENT VALUE INTERNAL RATE OF RETURN
21
Year Time
Annual
Cashflows
Discounted
Cashflows
2020 0 Initial Project Cost -1127.0 -1127.0
2021 1 Annual Cash Inflow 32.0 29.3
2022 2 Annual Cash Inflow 33.2 27.7
2023 3 Annual Cash Inflow 34.3 26.2
2024 4 Annual Cash Inflow 35.6 24.8
116. 2025 5 Annual Cash Inflow 36.9 23.5
5 Estimated Market Value 1560.0 995.5
Required Rate of Return 9.4%
NET PRESENT VALUE 0.0
CROWN SYDNEY INTERNAL RATE OF RETURN
ANALYSIS
$m
CALCULATE THE
INTERNAL RATE OF
RETURN FOR
CROWN SYDNEY BY
CROWN RESORTS
ACTIVITY:
Answer
With an IRR of 9.4%, versus
a required rate of return of
9.0%, the project satisfies
the criteria for acceptance.
INTERNAL RATE OF RETURN
22
117. INVESTMENT
EVALUATION I
• Return on Investment
• Residual Income
• Payback PeriodCALCULATE THE
NPV AND IRR FOR
THE DYSART SOLAR
ENERGY FARM
CASHFLOW PROFILE
A AND B
ACTIVITY
Estimated Annual
Cash Flows ($m)
Profile A Profile B
2022 (Year 0) -200 -200
2023 (Year 1) 40 80
2024 (Year 2) 80 80
2025 (Year 3) 85 80
2026 (Year 4) 90 80
2027 (Year 5) 95 70
Returning to the Tilt Renewables Dysart Solar Energy Farm,
118. calculate the NPV
and IRR for each of cashflow Profile A and B. Assume an 8%
discount rate.
Do the results confirm our earlier assessment in favour of
Profile B?
NPV and IRR
23
INVESTMENT
EVALUATION I
• Return on Investment
• Residual Income
• Payback PeriodCALCULATE THE
NPV AND IRR FOR
THE DYSART SOLAR
ENERGY FARM
CASHFLOW PROFILE
A AND B
ACTIVITY:
Answers
Estimated Annual
Cash Flows ($m)
Profile A Profile B
119. 2022 (Year 0) -200 -200
2023 (Year 1) 40 80
2024 (Year 2) 80 80
2025 (Year 3) 85 80
2026 (Year 4) 90 80
2027 (Year 5) 95 70
NPV 103.9 112.6
IRR 23.9% 27.9%
Returning to the Tilt Renewables Dysart Solar Energy Farm,
calculate the NPV
and IRR for each of cashflow Profile A and B. Assume an 8%
discount rate.
Do the results confirm our earlier assessment in favour of
Profile B? Yes
NPV and IRR
24
• The balance sheet shows the funding sources of a business:
debt and equity. Debt and equity funds each have a
corresponding cost.
• In the case of debt, the cost is explicitly represented by the
120. interest rate (typically the average interest rate on the
business’ borrowings).
• In the case of equity, the cost is not observable but is the
return required in order to satisfy shareholders and/or maintain
the share price.
• We can combine the cost of debt and the cost of equity into a
cost of capital for use as the required rate of return in our NPV
or IRR calculations.
COST OF CAPITALINVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
25
• Our combined cost of capital is known as the Weighted
Average
Cost of Capital (WACC) and is given by the following formula:
WEIGHTED AVERAGE COST OF CAPITAL (WACC)
121. WACC = (Cost of Debt x Debt Ratio) + (Cost of Equity x
Equity Ratio)
• We can arrive at a simple estimate of WACC, as follows.
From
Workshop 2, the Debt Ratio is Liabilities/Assets and the Equity
Ratio equals Equity/Assets. These two ratios should sum to one.
• To calculate the Cost of Equity, a simplified approach is to
use
the Earnings Yield from Workshop 2 (the inverse of the Price
Earnings ratio). Our WACC calculation now becomes:
INVESTMENT
EVALUATION (II)
• Time Value of Money
• Opportunity Cost &
Discounting
• Net Present Value
• Cashflow Forecasting
• Internal Rate of Return
• Cost of Capital
WACC = (Interest Rate x Debt Ratio) + (Earnings Yield x
Equity Ratio)
26
122. FROM
WOOLWORTHS’
FINANCIAL
STATEMENTS IN THE
MBA403 RESOURCES
CALCULATE THE FY20
WACC
CALCULATION
ACTIVITY
Calculate Woolworths’ FY20 Weighted Average Cost of Capital
• Calculate the Debt Ratio and Equity Ratio from Woolworths’
balance sheet
• Assuming an average loan interest rate of 3.6% and a P/E ratio
of
44, calculate the WACC
This WACC could be used as the required rate of return in
Woolworths’
NPV and IRR calculations when undertaking investment
evaluation
27
FROM
WOOLWORTHS’
FINANCIAL
123. STATEMENTS IN THE
MBA403 RESOURCES
CALCULATE THE FY20
WACC
Calculate Woolworths’ FY20 Weighted Average Cost of Capital
• Calculate the Debt Ratio and Equity Ratio from Woolworths’
balance sheet: 77% and 23%, respectively
• Assuming an average loan interest rate of 3.6% and a P/E ratio
of 44, calculate the WACC: (0.77x3.6%)+(0.23x2.3%) = 3.3%
This 3.3% WACC could be used as the required rate of return in
Woolworths’ NPV and IRR calculations when undertaking
investment evaluation
CALCULATION
ACTIVITY:
Answers
28
INVESTMENT EVALUATION
We have seen numerous techniques for
investment evaluation (in addition to our ratios
from Workshop 2):
• Return on Investment
• Payback Period
124. • Net Present Value
• Internal Rate of Return
Of these, Net Present Value and Internal Rate of
Return are the most widely used.
29
INVESTMENT EVALUATION
Our focus to date has been exclusively
financial. Increasingly, however, companies
must adopt a broader perspective in business
and investment decision making. Amongst the
additional factors to consider are:
• corporate reputation considerations,
• alignment with the overall business strategy,
• sustainability and environmental impacts,
• social and community influences, and
• ethical aspects.
These are explored in the next section of the
course.
30
Next Workshop:
125. NON-FINANCIAL BUSINESS
PERFORMANCE
1
COMMONWEALTH OF AUSTRALIA
COPYRIGHT REGULATIONS 1969
WARNING
THIS MATERIAL HAS BEEN REPRODUCED AND
COMMUNICATED TO YOU BY OR ON BEHALF OF
KAPLAN BUSINESS SCHOOL PURSUANT TO PART VB OF
THE COPYRIGHT ACT 1968 (THE ACT).
THE MATERIAL IN THIS COMMUNICATION MAY BE
SUBJECT TO COPYRIGHT UNDER THE ACT. ANY
FURTHER REPRODUCTION OR COMMUNICATION OF
THIS MATERIAL BY YOU MAY BE THE SUBJECT
OF COPYRIGHT PROTECTION UNDER THE ACT.
DO NOT REMOVE THIS NOTICE.
1
2
MBA403
FINANCIAL AND ECONOMIC
126. INTERPRETATION AND
COMMUNICATION
3
Week 8:
BUSINESS ETHICS AND
SUSTAINABILITY
4
Week 8:
BUSINESS
ETHICS AND
SUSTAINABILITY
• Sustainable Development
• Business Sustainability and Reporting
• Business Ethics
5
World Economic Forum, Davos, January 2019
SUSTAINABLE
127. DEVELOPMENT
6
ENVIRONMENTAL
PROTECTION
“Sustainable development is development that meets the needs
of
the present without compromising the ability of future
generations
to meet their own needs”
(from Report of the World Commission on Environment and
Development: Our
Common Future, 1987, commissioned by the United Nations)
SUSTAINABLE DEVELOPMENT
SOCIAL
PROGRESS
ECONOMIC
GROWTH
There are three pillars to sustainable development:
7
SUSTAINABLE DEVELOPMENT GOALS
128. In 2012, the objective of sustainable development was more
clearly
defined by the UN in the form of 17 Sustainable Development
Goals
8
SUSTAINABLE DEVELOPMENT GOALS
Each goal falls within one of the three pillars for sustainable
development:
economic growth, environmental protection and social progress
9
SUSTAINABLE DEVELOPMENT GOALS
Each goal has specific targets for 2030, supported by the UN.
Information
on progress towards the targets can be found at
www.sdgs.un.org
Goal Description Example of 2030 Target
1 No Poverty End poverty in all its forms everywhere Eradicate
extreme poverty
2 Zero Hunger
End hunger, achieve food security & improved
nutrition & promote sustainable agriculture
129. End all forms of malnutrition
3
Good Health
and Well-Being
Ensure healthy lives and promote well-being for
all at all ages
Halve deaths and injuries from
road traffic accidents
4
Quality
Education
Ensure inclusive & equitable quality education &
promote lifelong learning opportunities for all
Ensure access to quality early
childhood care & education
http://www.sdgs.un.org/
10
SUSTAINABLE DEVELOPMENT GOALS
Goal Description Example of 2030 Target
5
Gender
Equality
Achieve gender equality & empower all
130. women & girls
End all forms of discrimination
against all women & girls
everywhere
6
Clean Water &
Sanitation
Ensure availability & sustainable
management of water & sanitation for all
Universal and equitable access to
safe & affordable drinking water
for all
7
Affordable &
Clean Energy
Ensure access to affordable, reliable,
sustainable, & modern energy for all
Double the global rate of
improvement in energy efficiency
8
Decent Work &
Economic
Growth
Promote sustained, inclusive & sustainable
economic growth, full & productive
employment & decent work for all
131. Sustain per capita economic
growth in accordance with
national circumstances
11
SUSTAINABLE DEVELOPMENT GOALS
Goal Description Example of 2030 Target
9
Industry,
Innovation &
Infrastructure
Build resilient infrastructure,
promote inclusive & sustainable
industrialisation & foster innovation
Enhance scientific research & upgrade
the technological capabilities of industrial
sectors
10
Reduced
Inequalities
Reduce inequality within & among
countries
Income growth of the bottom 40% of the
population above the national average
11
132. Sustainable
Cities &
Communities
Make cities & human settlements
inclusive, safe, resilient &
sustainable
Ensure access to adequate, safe &
affordable housing & basic services
12
Responsible
Consumption &
Production
Ensure sustainable consumption &
production patterns
Halve per capita global food waste at the
retail & consumer levels
13 Climate Action
Take urgent action to combat
climate change & its impacts
Integrate climate change measures into
national policies, strategies & planning
12
SUSTAINABLE DEVELOPMENT GOALS
Goal Description Example of 2030 Target
133. 14
Life Below
Water
Conserve & sustainably use the oceans, seas &
marine resources for sustainable development
Manage and protect marine
and coastal ecosystems
15 Life on Land
Protect, restore & promote sustainable use of
terrestrial ecosystems, sustainably manage
forests, combat desertification, & halt & reverse
land degradation & halt biodiversity loss
Halt deforestation, restore
degraded forests and
substantially increase
reforestation globally
16
Peace, Justice
& Strong
Institutions
Promote peaceful & inclusive societies for
sustainable development, provide access to
justice for all & build effective, accountable &
inclusive institutions at all levels
Significantly reduce all forms of
violence and related death
rates everywhere
134. 17
Partnerships
For The Goals
Strengthen the means of implementation &
revitalise the global partnership for sustainable
development
Promote the development &
transfer of environmentally
sound technologies
13
INCOME INEQUALITY
• SDGs 1 and 10 concern poverty and inequality. Although
global
inequality is declining, inequality within countries has risen,
especially in advanced economies
(Source: https://www.imf.org/en/Topics/Inequality/introduction-
to-inequality)
• Income inequality refers to the extent to which income is
evenly
distributed within a population
• Income inequality can be measured using the Gini coefficient.
The Gini coefficient varies between 0, for perfect equality, and
1, for perfect inequality
BUSINESS ETHICS &
SUSTAINABILITY
135. • Sustainable
Development
• Business Sustainability &
Reporting
• Business Ethics
https://www.imf.org/en/Topics/Inequality/intro duction-to-
inequality
14
INCOME INEQUALITY
% share of population
% share
of income
% share of population
% share
of income
% share of population
% share
of income
Gini = 0
Gini = 1
136. 1. Perfect Equality 2. Some Inequality 3. Perfect Inequality
Plotting income versus population, Chart 1 shows perfect
equality (Gini = 0) as each share
of the population has a corresponding share of income. Chart 3
shows perfect inequality
(Gini = 1), where one individual has 100% of income. Chart 2 is
between these extremes.
100 100 100
100 100 100000
15
INCOME INEQUALITY
• A range of factors have been proposed in the literature to
account for income inequality trends.
• Global factors such as technological progress play a role. For
instance, technological advancement has contributed to a ‘skill
income premium’ for individuals with a higher education and a
comparative advantage in using new technologies.
• Country-specific factors such as economic conditions and
domestic policies - including fiscal policies and regulation -
also
help to explain inequality within countries. Examples include
minimum wage and taxation rates and the welfare system.
BUSINESS ETHICS &
SUSTAINABILITY
137. • Sustainable
Development
• Business Sustainability &
Reporting
• Business Ethics
16
CONSIDER
DIFFERENCES IN
INCOME
INEQUALITY
BETWEEN
COUNTRIES AND
OVER TIME
LIABILITIES
SUSTAINABILITY
ACTIVITY • In groups, go to https://www.gapminder.org/data
• Scroll down and type Gini coefficient in the indicator sear ch
box
• Choose two countries and consider:
a) the difference between the Gini coefficients of the two
countries
138. b) the change in income inequality over time for each country
(Note: not all countries will have updated data. Where data has
not been
updated, it will appear as a constant over time)
• Based on your knowledge, discuss and propose possible
explanations for the observed income inequality characteristics
of these two countries
INCOME INEQUALITYINCOME INEQUALITY
https://www.gapminder.org/data
17
BUSINESS
SUSTAINABILITY &
REPORTING
“The statement from the leaders of companies
including JPMorgan Chase, Apple, Amazon and
Walmart affirms that the nation’s largest
companies have a “fundamental commitment”
to all their stakeholders: putting employees,
suppliers and communities on a pedestal that
once belonged only to shareholders”
Reuters, 16th September 2020
Sydney Morning Herald, 4th August 2020
139. 18
BUSINESS SUSTAINABILITY & REPORTING
“the true philosophy of sustainability is the interdependence ..
if
you do the right things in the community, the community will
do
right things for you. If you do the right things for the
environment,
you’ll have a stronger business so that you can make more
money”
(anonymous manufacturing executive, 2005, in Kurucz, E.C,
Colbert, B.A, & Wheeler, D,
The Oxford Handbook of Corporate Social Responsibility
(2009), p 84)
• The traditional focus on maximising shareholder wealth alone
has broadened to take into account the interests of a range of
stakeholders, including employees, suppliers, customers and the
community.
• A sustainability report refers to a report that not only presents
information about the economic value of an entity, but provides
information upon which stakeholders can also judge the
environmental and social value of an entity.
BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability
& Reporting
140. • Business Ethics
19
True Business SustainabilityVIDEO:
‘TRIPLE BOTTOM LINE’
Aligned to the three pillars of sustainable development,
businesses are shifting to a “Triple Bottom Line”
approach: pursuing economic (or financial) goals along
with social and environmental ones.
These goals are supported by sustainability strategies,
systems and reporting.
The sustainability terminology is not uniform, however.
Other frequently used references include:
• Environmental, Social and Governance (ESG)
• Corporate Social Responsibility (CSR)
https://www.youtube.com/watch?v=AEFqUh4PMmI&feature =e
mb_logo
20
ORGANISATIONAL INITIATIVES
Many organisations are active in the area of business
sustainability
and reporting. Amongst the initiatives are the following.
141. • The International Integrated Reporting Council. “The IIRC’s
mission is to establish integrated reporting and thinking within
mainstream business practice” (www.integratedreporting.org).
One of the IIRC’s goals is to “provide a comprehensive,
globally
accepted, corporate reporting system that includes both
financial accounting and sustainability disclosure”.
• Global Reporting Initiative. GRI’s seeks “to enable
organizations
to be transparent and take responsibility for their impacts”. The
GRI has developed 36 Sustainability Reporting Standards.
BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability
& Reporting
• Business Ethics
VIDEO: Why Does Integrated Reporting Matter?
http://www.integratedreporting.org/
https://www.youtube.com/watch?v=fJHP6QU_AyU
21
ORGANISATIONAL INITIATIVES
142. • In Australia, sustainability reporting is voluntary. Legislation
does
cover aspects such as environmental and health & safety yet
this does not constitute a sustainability reporting framework.
Nevertheless, the IIRC and KPMG report (November 2020) that
79% of ASX200 companies have adopted integrated reporting
(https://integratedreporting.org/news/79-of-australian-asx200-
companies-adopt-
integrated-reporting/).
• Other UN initiatives: Principles for Responsible Investment,
Principles for Responsible Banking and Principles for
Sustainable
Insurance.
Each seeks to incorporate ESG issues, risks and opportunities
into business practice.
BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability
& Reporting
• Business Ethics
https://integratedreporting.org/news/79-of-australian-asx200-
companies-adopt-integrated-reporting/
22
143. BENEFITS OF SUSTAINABILITY REPORTING
As with Non-Financial information and the Balanced Scorecard,
businesses can benefit in numerous ways from the adoption of
sustainability practices and reporting (from
www.globalreporting.org).
• Improved risk management
• Enhanced stakeholder engagement
• Attracting and retaining a high quality workforce
• Demonstrates the organisation is focused on values and long-
term performance
• Embeds sound corporate governance and ethics throughout the
organisation
• Facilitates performance benchmarking
We return to the benefits following a discussion of Business
Ethics.
BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability
& Reporting
• Business Ethics
http://www.globalreporting.org/
144. 23
EXPLORE
WOOLWORTH’S
SUSTAINABILITY
REPORT
LIABILITIES
Explore the FY20 Sustainability Report for information on
Woolworths’ sustainability measures and activities.
• What are the ‘3 pillars’ for Woolworths?
• What are Woolworths’ 5 key sustainability objectives?
• List a number of sustainability measures reported by
Woolworths
• Discuss and share
SUSTAINABILITY
CASE STUDY
24
EXPLORE
WOOLWORTH’S
SUSTAINABILITY
REPORT
145. LIABILITIES
Explore the FY20 Sustainability Report for information on
Woolworths’ sustainability measures and activities.
• What are the ‘3 pillars’ for Woolworths?
o People, Planet, Prosperity
• What are Woolworths’ 5 key sustainability objectives?
o Safety and wellbeing
o Diverse and inclusive culture
o Reduction of emissions and waste
o Responsible sourcing
o Relationships with our partners
• List a number of sustainability measures reported by
Woolworths
• Discuss and share
SUSTAINABILITY
CASE STUDY:
Answers
25
146. BUSINESS
ETHICS
“The Royal Commission has highlighted for everyone
the problems that arise when there is a failure of ethics
and professionalism.
Too often, we have seen that financial services firms
have acted other than to serve the ultimate purposes
of the financial system.
Firms have put their own interests first to the
detriment of customers and the public.”
Cathie Armour, Australian Securities & Investments
Commission, speaking in relation to the
The Royal Commission into Misconduct in the Banking,
Superannuation and Financial Services Industry, 2019
26
ETHICS AND BUSINESS
What is ethics as it relates to business?
There are numerous definitions of ethics and ethical behaviour.
In
business, they generally revolve around “the right behaviour
and
the right conduct” (FASEA: The Financial Adviser Standards
and Ethics Authority).
We look at two working definitions of ethical behaviour from
147. financial services. FASEA provides the following Standards of
Ethical
Behaviour within their Code of Ethics:
1. You must act in accordance with all applicable laws.
2. You must act with integrity and in the best interests of each
of
your clients.
3. You must not advise, refer or act in any other manner where
you have a conflict of interest or duty.
(www.fasea.gov.au/code-of-ethics/)
BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability &
Reporting
• Business Ethics
http://www.fasea.gov.au/code-of-ethics/
27
ETHICS AND BUSINESS
The Royal Commission provides the following working
definition of
ethics via “six norms of conduct”:
148. 1. Obey the law
2. Do not mislead or deceive
3. Act fairly
4. Provide services / products that are fit for purpose
5. Deliver services / products with reasonable care and skill
6. When acting for another, act in the best interests of that other
The report adds “These norms of conduct are fundamental
precepts. Each is well-established, widely accepted, and easily
understood”.
The Royal Commission into Misconduct in the Banking,
Superannuation and Financial
Services Industry, 2019, Volume I, p7.
BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability &
Reporting
• Business Ethics
28
149. HIGH PROFILE EXAMPLES OF UNETHICAL CONDUCT
The following are just a few high profile corporate examples of
unethical conduct over recent years:
• Volkswagen emissions scandal (2015)
• AMP “charging the dead” (2018)
• NAB at the Royal Commission (2019)
• Westpac money laundering (2019)
• RIO Tinto heritage destruction (2020)
BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability &
Reporting
• Business Ethics
VIDEOS
VW:
AMP:
NAB:
Westpac:
151. BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability &
Reporting
• Business Ethics
https://www.accaglobal.com/
30
EMBEDDING ETHICAL DECISION MAKING
The literature also identifies 7 accepted practices to creating the
conditions for ethical conduct in organisations:
1. Clarity: ethical expectations must be comprehensive and
understandable to employees and managers
2. Consistency: the board and executives must act in accordance
with ethical expectations and deliver consistent messaging
3. Feasibility: sufficient time, budget and authority must be
provided to embed ethics into practices
4. Supportability: there must be support for and acceptance of
changes needed to implement ethics in leadership and culture
BUSINESS ETHICS &
SUSTAINABILITY
152. • Sustainable
Development
• Business Sustainability &
Reporting
• Business Ethics
31
EMBEDDING ETHICAL DECISION MAKING
5. Transparency: ethical and unethical conduct must be visible
to
everyone in an organisation
6. Discussability: managers and employees must have the
opportunity to discuss ethical issues
7. Sanctionability: ethical and unethical behaviour should be
motivated by appropriate reward and punishment
(Chadegani, A. A and JAIR, A, 2006, Corporate Ethical Culture:
Review of Literature and
Introducing PP Model. Procedia Economics and Finance, 36,
51-61)
An alternative approach is taken by Collins in Five Levees for
Improving Ethical Performance
(Collins, D, 2006, Five Levees for Improving Ethical
Performance, Strategic Finance, Vol.
88 Issue 1, 19-61. Available in Kaplan Library)
153. BUSINESS ETHICS &
SUSTAINABILITY
• Sustainable
Development
• Business Sustainability &
Reporting
• Business Ethics
32
IN GROUPS DISCUSS
THESE
HYPOTHETICAL
BUSINESS ETHICS
QUESTIONS.
WHAT WOULD
YOUR STANCE BE?
LIABILITIES
1. You’re close to signing a new client to a large contract.
Your boss is under pressure to increase sales. He calls you into
his
office, tells you his job is on the line and asks you to record the
revenue for the new contract in the sales figures for the
financial
154. year that ends tomorrow.
You know the contract is a sure thing but the client is out of
town
and cannot possibly sign by tomorrow.
What do you do?
BUSINESS ETHICS
DISCUSSION
ETHICAL DECISION MAKING
33
IN GROUPS DISCUSS
THESE
HYPOTHETICAL
BUSINESS ETHICS
QUESTIONS.
WHAT WOULD
YOUR STANCE BE?
LIABILITIES
2. You work in the Finance department of a large listed
company.
An external analyst has approached your Investor Relations
department for assistance with the numbers in his Excel
valuation model of your company.
155. The request has been passed on to you. The analyst is a strong
supporter of the company and can boost the share price. Not
providing the requested assistance may also jeopardise your
own
prospects in the organisation.
What do you do?
BUSINESS ETHICS
DISCUSSION
ETHICAL DECISION MAKING
34
IN GROUPS DISCUSS
THESE
HYPOTHETICAL
BUSINESS ETHICS
QUESTIONS.
WHAT WOULD
YOUR STANCE BE?
LIABILITIES
3. Your manufacturing company has experienced a favourable
decline in production costs.
One of your customers, Sam, knows this because he is a close
associate of the company chairman. When Sam next purchases
156. from you he receives a reduced price as a result of the lower
costs.
Another customer, Sue, is not aware of the fall in manufacturing
costs and places the same order as Sam.
Do you offer Sue the same pricing as Sam?
BUSINESS ETHICS
DISCUSSION
ETHICAL DECISION MAKING
35
SUSTAINABILITY & ETHICS EVIDENCE
“Organizations with a well-fortified ethical
culture tend to have higher degrees of employee,
customer, supplier, and investor satisfaction and
loyalty. These long-term trusting relationships
directly benefit the bottom line” (Collins, 2006)
Investors are increasingly allocating assets “based
on environmental, social, and governance (ESG)
considerations”*
“ESG-related equities have outperformed global
benchmarks over the past two years”**
*BCA Research, ESG Investing: No Harm, Some Benefit (2018)
** BCA Research, ESG Investing: From Niche to Mainstream
(2020)
157. 36
Next Workshop:
CORPORATE FAILURE &
THE ECONOMICS OF
BUSINESS
1
COMMONWEALTH OF AUSTRALIA
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DO NOT REMOVE THIS NOTICE.
1
158. 2
MBA403
FINANCIAL AND ECONOMIC
INTERPRETATION AND
COMMUNICATION
3
Week 2:
ANALYSING FINANCIAL
STATEMENTS
4
Week 2:
ANALYSING
FINANCIAL
STATEMENTS
• Purpose of Ratio Analysis
• Financial Stability Ratios
• Efficiency Ratios
159. • Profitability Ratios
• Investment Ratios
• Horizontal and Vertical Analysis
• Retaining the ‘Big Picture’
5
INTERPRETATION
ANALYSIS
INSIGHTS
COMMUNICATION
PURPOSE OF FINANCIAL ANALYSIS
“Knowing your numbers can help you transform all of your
business
relationships and give you a significant competitive advantage”
(Bill Gates)
FINANCIAL
STATEMENTS
SUSTAINABILTY
REPORTS
EXTERNAL
SOURCES OF
161. • Interpretation of the financial statements
is essential for internal and external
stakeholders.
• Ratio analysis allows us to combine and
compare data from the financial
statements in order to gain deeper
insights.
“.. you have to understand the nuances of accounting. It’s the
language of business” (Warren Buffett)
7
Is the business
using its assets
efficiently to
generate sales, cash
and profit?
Examine the
company’s financial
structure and
resources and the
risks arising from its
162. debt obligations
Assess profitability
versus sales, assets
and shareholder
equity
Profitability Ratios
Ratios used to analyse
the investment merit
of a business or share
opportunity
RATIO CATEGORIES
Investment Ratios
Financial
Stability Ratios
Efficiency Ratios
8
READ THE
ATTACHED STORY
FROM
163. NEWS.COM.AU
(AUGUST 25, 2020)
AND CONSIDER THE
FOLLOWING
QUESTIONS
LIABILITIES
Australia’s second airline went into voluntary administration in
April (2020),
with a debt pile of around $6.8 billion, following years of
financial trouble and
amid the COVID-19 pandemic..
Deloitte’s final report to creditors charted the airline’s rocky
financial history,
concluding its difficulties “were due to an already highly
leveraged balance
sheet, resulting from past years of losses, that was unable to
support the
business impact caused by COVID-19”.
It cited a number of contributing factors for its struggles,
including a higher
cost base compared to Qantas, high labour costs and its use of
various
different aircraft types.
Deloitte’s report also flagged that Virgin Australia may have
traded while it
was insolvent in the early days of the pandemic, before it went
into voluntary
administration on April 21.
164. CASE STUDY
9
CASE STUDY
What do you understand by the following terms:
• leverage (or gearing)?
• being insolvent?
• liquidity?
READ THE
ATTACHED STORY
FROM
NEWS.COM.AU
(AUGUST 25, 2020)
AND CONSIDER THE
FOLLOWING
QUESTIONS
10
Liquidity vs SolvencyVIDEO:
CASE STUDY
165. What do you understand by the following terms:
• leverage (or gearing)?
The use of debt by a company constitutes financial leverage.
Because
interest payments are essentially a fixed cost, leverage tends to
magnify the effect of changes in operating profit (also known as
EBIT:
Earnings Before Interest & Tax) on net profit.
• being insolvent?
• liquidity?
VIDEO:
READ THE
ATTACHED STORY
FROM
NEWS.COM.AU
(AUGUST 25, 2020)
AND CONSIDER THE
FOLLOWING
QUESTIONS
https://www.youtube.com/watch?v=ypa5kOeIHPc
11
• DEBT RATIO: a measure of
gearing or leverage. How much
166. debt is the business carrying?
• Too much debt: the business
may struggle to meet the
required repayments if revenue
deteriorates. Remember: banks
are less forgiving than
shareholders!
• Too little debt: may reflect
overly conservative
management, a lack of business
opportunity or banks failing to
approve loans.
ANALYSING
FINANCIAL
STATEMENTS
• Financial Stability
Ratios
• Efficiency Ratios
• Profitability Ratios
• Investment Ratios
FINANCIAL STABILITY RATIOS
TOTAL LIABILITIES
TOTAL ASSETS
• Ideal range is 30%-50% but will
167. vary by industry and according to
the economic environment
• Can also be calculated as
debt / total assets
DEBT RATIO
12
• DEBT TO EQUITY RATIO: a
measure of debt financing
versus equity financing.
• An indication of the relative
‘degree of control’ over the
business – creditors versus
shareholders.
• Again varies by industry but a
50% debt ratio implies a 100%
debt / equity ratio.
• QUESTION: what does a 30%
debt ratio imply in terms of debt
/ equity?
ANALYSING
FINANCIAL
STATEMENTS
• Financial Stability
Ratios
168. • Efficiency Ratios
• Profitability Ratios
• Investment Ratios
FINANCIAL STABILITY RATIOS
TOTAL LIABILITIES
TOTAL EQUITY
• Can be quite variable
• Ideal range is 40%-100% but will
vary by industry and environment
• Can also be calculated as
debt / total equity
DEBT TO EQUITY RATIO
13
• CURRENT RATIO: a measure of
liquidity, or the ability of the
business to meet its short term
commitments.
• Too high a ratio may indicate a
‘lazy’ balance sheet - cash
accumulating in the absence of
investment opportunities or
169. returning it to shareholders
• Other liquidity ratios include:
➢ Quick Ratio
➢ Interest Cover Ratio
ANALYSING
FINANCIAL
STATEMENTS
• Financial Stability
Ratios
• Efficiency Ratios
• Profitability Ratios
• Investment Ratios
FINANCIAL STABILITY RATIOS
TOTAL CURRENT ASSETS
TOTAL CURRENT LIABILITIES
• Should be comfortably above 1,
up to a level of 2
• Some companies can successfully
operate with a ratio below 1
• For example, a high turnover
supermarket can purchase
170. inventory and turn it into cash, at
a profit, quickly
CURRENT RATIO
14
GO TO THE
BALANCE SHEETS
OF VIRGIN
AUSTRALIA AND
HARVEY NORMAN
IN THE MBA403
RESOURCES TO
CALCULATE THESE
RATIOS
RATIO ACTIVITY
For Virgin Australia (FY19) and Harvey Norman (FY20),
calculate the
following Ratios.
• Debt ratio
• Current ratio
What can you conclude about the financial stability of the two
businesses?