Financial Information
Prepared for CFO of Custom Snowboards, Inc.
Key Points for Bank Officer
Custom Snowboards has provided a vertical analysis, horizontal analysis, and trend analysis for the banker to consider in making his decision.
Vertical Analysis
In order for the banker to determine his investment is secure, he will want to see several different lines from the vertical analysis.
To begin with, the comparative income statements for Years 12-14 show that the company’s cost of goods sold has remained steady each year, at 69.6% of net sales. Gross profit has also remained steady at 30.4% of net sales each year. This shows that the company has a history of not having large fluctuations of cost of goods sold, meaning that their gross profit is fairly predictable.
Total selling expenses have remained constant, at 11.8% of net sales each year. This will be attractive to the banker, because he will know that his investment is with a steady and predictable company.
Total Operating Expenses have risen from 26.5% in Year 12, to 27.1% in Year 13, to 27.8% in Year 14. This is because Custom Snowboards has increased their administrative salaries and executive compensation. There has also been a slight increase in utilities, which have gone up from 3.7% in Year 12 to 3.8% in Year 14. Additionally, a slight increase in other general and admin expenses can account for the increase in total operating expenses, from 1.8% in Year 12, to 2.3% in Year 13, to 2.5% in Year 14. All of these changes are relatively minor, but have decreased the operating income from 3.9% in Year 12 to 2.6% in Year 14.
The net earnings for the company have decrease slightly over the past three years. Year 12 saw net earnings at 2% of net sales, while Year 13 was 1.6% and Year 14 was 1.2%. These changes are a result of the decrease in operating income.
A vertical analysis of the balance sheets for Years 12-14 show that the company has more than doubled its cash and cash equivalents, from 7% in Year 12 to 16% in Year 14. There has also been an increase in other current assets, from 5.5% in Year 12 to 6.1% in Year 14. These increases in assets are great for the company. Unfortunately, the company has seen total current assets decrease from Year 13 to Year 14. Year 12 had total current assets at 42.3%. This number jumped to 49.8% in Year 13, and then fell to 45% in Year 14. This reduction is because Custom Snowboards saw a significant decrease in short-term investments in Year 14. Short-term investments dropped to 1.7%, when they have been previously at 10% in Year 13 and at 8.6% in Year 12.
Another increase in assets did occur. Custom Snowboards increased their furniture, fixtures, and equipment to 27.5% of total assets. This number had been 17.3% in Year 12 and 16.7% in Year 13.
The company has made great achievements in paying off liabilities. Their mortgage has steadily decreased each year, which means that they are making regular p ...
TEMPLATE
Financial Analysis Task I
Competition Bikes, Inc.A1.a. Competition Bikes Horizontal Analysis: Results
The present period of the company has been experiencing a notable decrease in the Net Sales as opposed to our earlier fiscal years. Financial Years 6 and 7 were markedly better than our current 7 and 8. A quick deduction and study has determined the reason for this economic downturn to be the present economy. Competition Bikes, Inc. does however, expect an increase in Unit Sales over the course of the next three years, but will also be projected to remain below our High Unit sales of Year 7.
Considering that our sales have decreased, it is positive to note that the percentage-to-Net Sales of the Cost of Goods Sold remained around 73% through years 6 – 8 in our Vertical Analysis. What this depicts is that the price of our raw materials has remained rather stagnant, as has the costs of labor. We have also reduced our Advertising Costs by approximately 16.3%, whereas it had been up by 37.5% percent from Year 6 to 7. This is due to two consecutive years of reduced sales of our product. As for Marketing, it is normal procedure to reduce its budgets when the economy enters a bear market. However, this is not always the wisest course of action due to the fact that companies must fight within an ever-constricting marketplace for potential sales that still remain.
Pertaining to our overall General and Administrative Expenses our company has remained in a relatively flat status with reviewed over the past several years to the present. There is a notable increase in our overall Utilities expenses, ranging around 11.1%, which is probably because of increased power costs passed on from electrical companies. That is up, and impressively so from our Year 6 to 7 which Utilities were only hovering in the 3.8% range. There is, however, a particular section that is worthy of a more detailed examination. The Other General and Admin Expenses are up. Way up, in fact. Estimates are a very noticeable 7.6% ($12,000.00) from last year. That’s a marked improvement from Year 6 to 7 where we were reporting 31.1% (37,500.00)! All the while our expected sales have decreased by 15% in the same timeframe. Even more concerning is our Operations. The Operating Income has dropped by a staggering -69.1%! This is a considerable difference from our Year 6 – 7 Operating Income, which was reported at $191,820.00 or 154.6%!
It should go without saying that our Operating Income, that is, things like the Utilities and Salaries, are always paid regardless of whether or not there is profitable sales; and this in turn is severely shrinking our corporate earnings cash considerably more than just a reduction in our sales percentages. One of the quick solutions to overcome this issue would be to reduce the number of hours that our Workforce in Production utilizes. This would allow for the Operating Income figure to reduce along with the reduced am ...
Zichun Gao Professor Karen Accounting 1AIBM FInancial Stat.docxransayo
Zichun Gao Professor Karen Accounting 1A
IBM FInancial Statement Analysis
Financial Ratios 2019 2018 Formula
Current Ratio 1.02 1.29 CA/CL
Profit Margin 12.22% 12.35% Net Income/Total Revenue
Receiveables Turnover 9.80 10.71 Revenue/Average AR
Average Collection Period 36.72 33.62 365/Receiveables Turnover
Inventory Turnover 25.11 25.36 COST/Average Inventory
Days in Inventory 14.53 14.39 365/Inventory Turnover
Debts to Asset Ratio 0.86 0.86 Total Debts/Total Assets
IBM's days in inventory is around two weeks and this means that goods in the inventory
as efficnetly distributed and that there is a consitantly good inventory control for the
company.
The company's debts to assets ratio is the same for two years and this means that the
company has less debt than asset. However, it is still a relatively poor ratio because this
might show that there are potential problems for the company to generate sufficient
revenue.
The current ratio of the company has decreased over the year, and this means that the
company has less liquid assets to cover its short term liabilities. Since the ratio is
currently approaching 1, the company might be having liquidation problem.
The profit margin for IBM is very stable and it has been about 12% for two years. The
company is performing the profit-generating ability at an average level and it is having
an average profit margin in the industry.
The receiveables turnover is good for the company while between these two years, there
is a decline. As the company is collecting its accounts receiveables around 10 times per
year, the collection is frequent.
The company has been collecting money from customers on credit sales approximately
once every month, and the company usually has fast credit collection, which means that
the risk for credit sales is relatively low.
Inventory turnover measures how many times a company sells and replaces inventory
during a year and for IBM, the number of times is stable and it is constantly around 25.
This means that the company has an efficient control of its goods in the inventory.
Free Cash Flow 11.90 11.90 CF_Operation-Capital Expenditures
Return on Assets 0.06 0.08 Net Income/Total Assets
Asset Turnover 0.51 0.65 Revenue/Assets
Figures From Financial Statement
From Income Statement pg.68
Net Income 9431 9828
Total Revenue 77147 79591
Cost 40657 42655
From Consolidated Balance Sheet pg.70
Current Assets 38420 49146
Current Liabilities 37701 38227
Accounts Receiveables 7870 7432
Inventory 1619 1682
Total Assets 152186 123382
Total Liabilities 131202 106452
From Cash Flow Overview pg.59
Net Cash From Op 14.3 15.6
Capital expenditures 2.4 3.7
The company currently has 11.9 billion dollars free cash flow for two years and this is a
relatively high level of free cash flow. With the high free cash flow, the company can
have more oportunity to expand, invest in new projects, pay dividends, or invest the
money into Resea.
FIN 470 Extra Credit AssignmentOptional Extra Credit Assignmen.docxmydrynan
FIN 470 Extra Credit Assignment
Optional Extra Credit Assignment is to write a detailed summary and critique (5-6 pages double space) on two issues that have been discussed in much detail over the past few years, which are mortgage-backed securities and the credit default swaps. You will need to find at least 8-10 articles on the above-mentioned issues to help form your argument.
-The first 2-3 pages should be used to explain exactly what mortgage backed securities (MBS) and credit default swaps (CDS) are and provide a summary of the 8-10 articles you found on the two topics. The remainder of the paper is to critique the articles and compare it to items we have gone over in class. Also build an opinion of how MBS and CDS will impact banks as well as the overall economy. You must attach a reference page including all sources used in the paper.
-Can earn up to 12 points on your lowest test grade, although it will be difficult to obtain a grade of 12 without significant work. This means that it will be doubtful for anybody to receive a perfect 10 score (to do a good job will need to spend at least 8 and maybe more on this, so do not wait until the last minute). Obviously the better and more articles you choose the better your grade will be.
-Papers that I deem not worth at least a grade of 6 or 50% will be given a grade of 0. In other words, don’t waste my time with an extremely poor effort. Also, make sure to proof read your work and do not turn in your first or second draft.
-The due date for the extra credit is one week before the final exam.
Common-size and Horizontal Analysis
Total assets of JC Penny Company for the financial year 2014/2015 were 10.4 billion dollars. This was a decline from the previous year 2013/2014 by 11.83%. This change may be attribute to decline in current assets majorly the inventories and cash. During the financial year 2014/2015 the company ranks above its close competitors such Dillards in terms of total assets. This is great basis for attracting investors who may be willing to invest in the industry. However the company is not on top of the industry in terms of asset base as it ranks below its competitors such as Macys who had a total asset of 20.6 billion dollars. JC Penny is there for the main center for investment in the industry if a decision was to be made on the basis of balance sheet strength.
Total liabilities of the company declined in the financial year 2015 to 8.49 billion dollars from 8.71 billion dollars in the previous year which had increased from $ 6.6 billion in 2013. The increase in total liabilities by 31.8% in the financial year 2014 was majorly associated with increase in long term borrowing made during the year. The long term debt was used to support the firm’s investment activities of the company.
Total shareholder equity declined from $ 3.087 billion in 2014 to $1.914 billion. Despite the increase in additional paid in capital by $ 35 million, there is a decline in the total sha ...
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---------
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TEMPLATE
Financial Analysis Task I
Competition Bikes, Inc.A1.a. Competition Bikes Horizontal Analysis: Results
The present period of the company has been experiencing a notable decrease in the Net Sales as opposed to our earlier fiscal years. Financial Years 6 and 7 were markedly better than our current 7 and 8. A quick deduction and study has determined the reason for this economic downturn to be the present economy. Competition Bikes, Inc. does however, expect an increase in Unit Sales over the course of the next three years, but will also be projected to remain below our High Unit sales of Year 7.
Considering that our sales have decreased, it is positive to note that the percentage-to-Net Sales of the Cost of Goods Sold remained around 73% through years 6 – 8 in our Vertical Analysis. What this depicts is that the price of our raw materials has remained rather stagnant, as has the costs of labor. We have also reduced our Advertising Costs by approximately 16.3%, whereas it had been up by 37.5% percent from Year 6 to 7. This is due to two consecutive years of reduced sales of our product. As for Marketing, it is normal procedure to reduce its budgets when the economy enters a bear market. However, this is not always the wisest course of action due to the fact that companies must fight within an ever-constricting marketplace for potential sales that still remain.
Pertaining to our overall General and Administrative Expenses our company has remained in a relatively flat status with reviewed over the past several years to the present. There is a notable increase in our overall Utilities expenses, ranging around 11.1%, which is probably because of increased power costs passed on from electrical companies. That is up, and impressively so from our Year 6 to 7 which Utilities were only hovering in the 3.8% range. There is, however, a particular section that is worthy of a more detailed examination. The Other General and Admin Expenses are up. Way up, in fact. Estimates are a very noticeable 7.6% ($12,000.00) from last year. That’s a marked improvement from Year 6 to 7 where we were reporting 31.1% (37,500.00)! All the while our expected sales have decreased by 15% in the same timeframe. Even more concerning is our Operations. The Operating Income has dropped by a staggering -69.1%! This is a considerable difference from our Year 6 – 7 Operating Income, which was reported at $191,820.00 or 154.6%!
It should go without saying that our Operating Income, that is, things like the Utilities and Salaries, are always paid regardless of whether or not there is profitable sales; and this in turn is severely shrinking our corporate earnings cash considerably more than just a reduction in our sales percentages. One of the quick solutions to overcome this issue would be to reduce the number of hours that our Workforce in Production utilizes. This would allow for the Operating Income figure to reduce along with the reduced am ...
Zichun Gao Professor Karen Accounting 1AIBM FInancial Stat.docxransayo
Zichun Gao Professor Karen Accounting 1A
IBM FInancial Statement Analysis
Financial Ratios 2019 2018 Formula
Current Ratio 1.02 1.29 CA/CL
Profit Margin 12.22% 12.35% Net Income/Total Revenue
Receiveables Turnover 9.80 10.71 Revenue/Average AR
Average Collection Period 36.72 33.62 365/Receiveables Turnover
Inventory Turnover 25.11 25.36 COST/Average Inventory
Days in Inventory 14.53 14.39 365/Inventory Turnover
Debts to Asset Ratio 0.86 0.86 Total Debts/Total Assets
IBM's days in inventory is around two weeks and this means that goods in the inventory
as efficnetly distributed and that there is a consitantly good inventory control for the
company.
The company's debts to assets ratio is the same for two years and this means that the
company has less debt than asset. However, it is still a relatively poor ratio because this
might show that there are potential problems for the company to generate sufficient
revenue.
The current ratio of the company has decreased over the year, and this means that the
company has less liquid assets to cover its short term liabilities. Since the ratio is
currently approaching 1, the company might be having liquidation problem.
The profit margin for IBM is very stable and it has been about 12% for two years. The
company is performing the profit-generating ability at an average level and it is having
an average profit margin in the industry.
The receiveables turnover is good for the company while between these two years, there
is a decline. As the company is collecting its accounts receiveables around 10 times per
year, the collection is frequent.
The company has been collecting money from customers on credit sales approximately
once every month, and the company usually has fast credit collection, which means that
the risk for credit sales is relatively low.
Inventory turnover measures how many times a company sells and replaces inventory
during a year and for IBM, the number of times is stable and it is constantly around 25.
This means that the company has an efficient control of its goods in the inventory.
Free Cash Flow 11.90 11.90 CF_Operation-Capital Expenditures
Return on Assets 0.06 0.08 Net Income/Total Assets
Asset Turnover 0.51 0.65 Revenue/Assets
Figures From Financial Statement
From Income Statement pg.68
Net Income 9431 9828
Total Revenue 77147 79591
Cost 40657 42655
From Consolidated Balance Sheet pg.70
Current Assets 38420 49146
Current Liabilities 37701 38227
Accounts Receiveables 7870 7432
Inventory 1619 1682
Total Assets 152186 123382
Total Liabilities 131202 106452
From Cash Flow Overview pg.59
Net Cash From Op 14.3 15.6
Capital expenditures 2.4 3.7
The company currently has 11.9 billion dollars free cash flow for two years and this is a
relatively high level of free cash flow. With the high free cash flow, the company can
have more oportunity to expand, invest in new projects, pay dividends, or invest the
money into Resea.
FIN 470 Extra Credit AssignmentOptional Extra Credit Assignmen.docxmydrynan
FIN 470 Extra Credit Assignment
Optional Extra Credit Assignment is to write a detailed summary and critique (5-6 pages double space) on two issues that have been discussed in much detail over the past few years, which are mortgage-backed securities and the credit default swaps. You will need to find at least 8-10 articles on the above-mentioned issues to help form your argument.
-The first 2-3 pages should be used to explain exactly what mortgage backed securities (MBS) and credit default swaps (CDS) are and provide a summary of the 8-10 articles you found on the two topics. The remainder of the paper is to critique the articles and compare it to items we have gone over in class. Also build an opinion of how MBS and CDS will impact banks as well as the overall economy. You must attach a reference page including all sources used in the paper.
-Can earn up to 12 points on your lowest test grade, although it will be difficult to obtain a grade of 12 without significant work. This means that it will be doubtful for anybody to receive a perfect 10 score (to do a good job will need to spend at least 8 and maybe more on this, so do not wait until the last minute). Obviously the better and more articles you choose the better your grade will be.
-Papers that I deem not worth at least a grade of 6 or 50% will be given a grade of 0. In other words, don’t waste my time with an extremely poor effort. Also, make sure to proof read your work and do not turn in your first or second draft.
-The due date for the extra credit is one week before the final exam.
Common-size and Horizontal Analysis
Total assets of JC Penny Company for the financial year 2014/2015 were 10.4 billion dollars. This was a decline from the previous year 2013/2014 by 11.83%. This change may be attribute to decline in current assets majorly the inventories and cash. During the financial year 2014/2015 the company ranks above its close competitors such Dillards in terms of total assets. This is great basis for attracting investors who may be willing to invest in the industry. However the company is not on top of the industry in terms of asset base as it ranks below its competitors such as Macys who had a total asset of 20.6 billion dollars. JC Penny is there for the main center for investment in the industry if a decision was to be made on the basis of balance sheet strength.
Total liabilities of the company declined in the financial year 2015 to 8.49 billion dollars from 8.71 billion dollars in the previous year which had increased from $ 6.6 billion in 2013. The increase in total liabilities by 31.8% in the financial year 2014 was majorly associated with increase in long term borrowing made during the year. The long term debt was used to support the firm’s investment activities of the company.
Total shareholder equity declined from $ 3.087 billion in 2014 to $1.914 billion. Despite the increase in additional paid in capital by $ 35 million, there is a decline in the total sha ...
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Running head FINANCIAL REPORTS ANALYSIS 2FINANCIAL REPOR.docxjeanettehully
Running head: FINANCIAL REPORTS ANALYSIS 2
FINANCIAL REPORTS ANALYSIS 2
Financial Reports Analysis
Name:
Institution:
Date:
Introduction
This paper will analyze financial reports of the leading giants in the fashion industry located in Europe that are Next PLC, and H&M. The analysis will capture the backgrounds of the two companies and evaluate their financial positions as of 2018. The report will tackle both horizontal and vertical reviews of the company with the inclusion of financial ratios. The companies’ profits will also be given importance in the analysis. Liquidation is an issue of concern to big companies included. The investment and efficiency in both Next PLC and H&M looked at to bring out the strengths and weaknesses of each company in the process of data interpretation. To finish the paper by analysis and review of the limitations to conclude the financial records of the companies presented.
Company Background
Next PLC
Next plc is a company that specializes in clothes and shoe fashion mostly — the company founded in 1864 in Leeds, England. The company has a financial target that aims at generating profits and achieving sustainability in the industry. It has over seven hundred stores, with 500 of them located in the United Kingdom and 200 distributed among European countries, the Middle East, and the continent of Asia. By 2018 statistics the company had about 43, 970 employees with a revenue of $4,055 million (Sabanoglu 2019).
H&M
H&M is a Swedish cloth retailer that focuses on fast-fashion designs for all members of society and ranked second in the industry. Erling Persson founded this company in 1947 in Sweden with women as the only customers. The company by 2015 had already acquired over 4500 stores globally, with about 132,000 individuals employed and income generated by 2016 totaling to $25.191 billion. To date, the company offers internet shopping in 33 countries (O'Connell 2019).
HORIZONTAL AND VERTICAL ANALYSIS
Parallel Analysis
In conducting a horizontal analysis of the companies in the report, their financial statements used by focusing on a specific time frame. In this report, the focus put on the information obtained as of the 2017-2018 fiscal year. Taking a look at Next PLC’s economic data as of 2017 $4097.3 million, and in 2018 the data indicates a drop in the revenues to $4055.5 million that represented a 1.02% decline in revenues. Next, PLC experienced a decrease in revenues, something opposite to their organizational objectives, something attributed to the volatile nature of U.K markets resulting in a high risk of sale (Singh 2018).
Focusing on H&M in 2017, their income was $27696.63 million, considered an increase from the previous years. In 2018 the revenues obtained by H&M totaled up to $23232.37 million a decrease in income compared to the last year by 16.1% in sales revenues. In this regard, found that H&M had the most substantial reduction in sales revenues from 2 ...
The Project gives details about the financial disclosure by different companies playing in different industries.
It included companies Bharti Airtel, Idea, Reliance Communications, Adani Enterprises, Container Corporation of India, Adani ports and Special Economic Zone.
This paper is the result of the information which has been acquired from the case file. We attempted our level most suitable to prepare this case solution.
Pt7-l
(similar
to).
(Financial forecasting) Zapatwa Enterprises is evaluating its financing requirements for the
coming year. The firm has only been in business for one year, but its CFO predicts that the firm's
operating expenses, current assets, net fixed assets, and current liabilities will remain at their
current proportion of sales.
Last year Zapatera had $11.74 million in sales with net income of $1.19 million. The firrn
anticipates that next year's sales will reach $15.09 million with net income rising to $2.03 million.
Given its present high rate of growth, the firm retains all of its earnings to help defray the cost of
new investnents.
The firm's balance sheet for the year just ended is as followr, i,F..
Estimate Zapatera's total financing requirements (total assets) and its net funding requirements
(discretionary financingneeded) for 2014. Nafe: Use the percentage of sales given in Zapatera
Enterprises' balance sheet for 201 3.
Tlne 2}t4retaired earnings are $[. (Round to the nearest dollar.)
Complete the pro forma balance sheet for 2014 below: (Round to the nearest dollar.)
ZapateraEnterprises, Inc.
Pro forma Balance Sheet tztSutt
Net fixed assets
Total
Liabilities and Owners' Equity
Accounts payable
Long*term debt
Total liabilities
Common stock
Paid-in capital
Retained earnings
Common equlty
Total $ ! I
Zapatera'stotal financing requirements (total assets) for 2014*" $[. (Round to the nearest
dollar.)
Zapateta'snet frmding requirements (discretionary financing needed) for 2Ol4*. $I. (Round to
the nearest dollar.)
Page I
-\
Data Table
Zapatenl Enterprires, Inc.
Current assets
Net fixed assets
Total
Liabilities and Oumers' Equif
Accormtspayable
Long-term debt
Total liabilities
Common stock
Paid-in capital
Retained earnings
Common equity
Total
3,300,fi)o
6,000,(x)0
__ug9,gaq
3,5m,000
1,900,000
1,300,m0
22m.,oA0
400,000
29.8r%
NAA
NAA
NA"
9,300,000
NAa. This figurc does not vary dilertty qrith sales and is assumed to remain cmstant
for purposes of forecasting next yeads fnancing requirsrn€nts.
Page I
(Financial forecastlng) ZapateraEnterprises is evaluating its financing requirements for the coming year. The
finn has only been iu business for one year, but its CFO predicts that thi finn's operating sxpenses, ""o*tassets, net fixed assets, and current liabilities will remain at their current proportion of sales.
Last year Zapaterahad $12.43 million in sales with net income of $1.24 million. The fimr anticipates that next
yeat's sales will reach $15.32 million with net income rising to $2.16 million. Given its present high rate of
growth, the firm retains all of its earnings to help defray the coslgf new investments.
The finn's balance sheet for the year just ended is as foilows: ffi.
Estimate Zapatsta'stotal financing requirements (total assets) *a it" net funding requiremants (discretionary
financing needed) for 2014. Note: lJse the percentage of sales given in Zapatetannterprises ...
Andhra Bank’s stock performance during the quarter (3QFY14) was ahead of fundamental in our view. Bank’s valuation may come down to 0.3 times (historical low) looking at bank’s own stress and fundamental. We have reduced rating on the stock with price target of Rs.66.
Narnolia Securities Limited expect that the KPIT Tech company would report better earnings with margin ramp up and signing of larger deals in next couple of quarters. Now, we upgrade our view on the stock from “Neutral” to “Buy” with a price target of Rs 185. At a CMP of Rs 160, stock trades at 9.5x FY15E EPS.
Financial Statement Analysis
During the recession many industries failed down which results into the loss of millions of dollars of the Investors and Stockholders. Later after all those incidents government has decided to make it necessary to have a financial statement to all the companies.
I am appointed as a Chief Financial Officer of the Norton Healthcare, which is operating in different parts of the country with hundreds of branches. All the financial statements should be made in each financial year, and that must be submitted to an independent financial organization. The firm will then analyze and give its recommendation as per the financial situation of the company. Company is more evaluating its strategies and decision regarding the business. The financial Statement is a necessary tool for the investor’s so that they can make investment decisions as per the financial performance of the company.
I have reviewed the financial health of the company by doing an internal survey. Years which I have covered during this are 2012, 2013 and 2014. The financial situation of the company is as following report.
2012:
2013:
2014:
In the Three consecutive years company has shown tremendous growth in terms of earning and increase in the total asset. In the year of 2012 the revenue generated by the company was $716,275,861 which was increase by the $ 65,772,910 in the year of the 2013. This increase in the Net asset in the beginning of the year shows a perfect path for the company as well as for the economy. Later in the year of the 2013, net asset of the company is become $2,241,164,734 which increases to $ 2,354,735,888 in the year of 2014. This shows a very good trend to the economy and the organization.
After analyzing the organization’s data one thing which impacts the organization is the non operating loss, the non operating losses in the year of 2013 increased many times and later on it increased many folds. This has negative impact on the performance of the company. The severe losses which are counted in the non operating losses are gain or losses from the investment, property sell and from the currency exchange. Non operating revenues and expenses show a loss of $1.9 million in the year of 2013, which was about $39.7 million in the year of 2012. The losses on the extinguishment of debt associated with this bond issued total $3.8 million. Losses on some software and hardware were about $2.4 million. The change in mark to the market loss position was about $ 10 million in the year of 2012 which was later improved to the $11.8 million.
As a CFO of the Organisation, I have some regulation which could be issued so that losses can be made under control. Non- Operating losses which accounts to millions in the year of 2013-2014, which can be minimized by selecting the thing which are involved within the organization and can be done separately by mitigating the losses. Losses due to the software and hardware which acco ...
Cost and benefit analysisWe are doing group presentation.docxvoversbyobersby
Cost and benefit analysis
We are doing group presentation tomorrow but we are struggling to make the
presentation sldies. We need presentation slides.
Could you guys help me? Maximum slides we have to make are 11 pages.
Below are structure of prejesentation we should do.
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In your analysis, make sure you take the followings into consideration:
•
the alternative projects ,
•
the groups who benefit and suffer from project,
•
list the physical impact of alternatives,
•
predict monetary value of those impacts (benefit and cost) over the life of project in terms of their present value,
•
conclude which of the alternative project should be selected.
-----------------
Addendum: PT slides
•
1 intro slide that discusses the motivation behind the project and CBA
•
Information about which groups have standing, and how they either benefit or lose from the considered policies
•
Numbers, sources
•
Conclusion
•
1-2 slides on other key information you would need to conduct a thorough analysis
•
1-2 slides at the end with a list of sources
Addendum: PT slides
Do Not Include:
•
Typos and spelling/grammar mistakes.
•
Basic definitions of CBA terms.
•
Too many pictures.
•
Unsubstantiated claims (unless you explicitly states that you had made the judgement call because there was insufficient data)
.
Cosmetics as endocrine disruptors are they a health risk.docxvoversbyobersby
Cosmetics as endocrine disruptors: are they a health risk?
Polyxeni Nicolopoulou-Stamati1 & Luc Hens2 & Annie J. Sasco3
Published online: 29 January 2016
# Springer Science+Business Media New York 2016
Abstract Exposure to chemicals from different sources in
everyday life is widespread; one such source is the wide range
of products listed under the title Bcosmetics^, including the
different types of popular and widely-advertised sunscreens.
Women are encouraged through advertising to buy into the
myth of everlasting youth, and one of the most alarming con-
sequences is in utero exposure to chemicals. The main route of
exposure is the skin, but the main endpoint of exposure is
endocrine disruption. This is due to many substances in cos-
metics and sunscreens that have endocrine active properties
which affect reproductive health but which also have other
endpoints, such as cancer. Reducing the exposure to endocrine
disruptors is framed not only in the context of the reduction of
health risks, but is also significant against the background and
rise of ethical consumerism, and the responsibility of the cos-
metics industry in this respect. Although some plants show
endocrine-disrupting activity, the use of well-selected natural
products might reduce the use of synthetic chemicals.
Instruments dealing with this problem include life-cycle
analysis, eco-design, and green labels; in combination with
the committed use of environmental management systems,
they contribute to Bcorporate social responsibility .̂
Keywords Endocrine active substances . Endocrine
disruptors . Cosmetics . Sunscreens
1 Introduction
Women and men all over the world use large amount of cos-
metic products in pursuit of everlasting youth, ignoring the
probable health risks. The commercial category of Bcosmetic
products^ entails substances or mixtures of substances that are
designed mainly for external use, for instance to improve the
appearance; clean; perfume; and sometimes protect as in the
case of sunscreens [1]. Many cosmetic products such as oils
and lipsticks contain UV filters, even though they are not
marketed under the term Bsunscreens^ or Bsun lotions^.
Cosmetic products contain active substances, preservatives
and also the so-called Bfragrances^ or Bperfumes^, the exact
composition of which remains a secret under the trade secret
standards [2].
Increasing scientific concern exists about the nature and the
safety of the ingredients used by the cosmetics industry re-
garding their endocrine-disrupting effects. Although numer-
ous studies have proved the endocrine-disrupting potential of
many ingredients, such as parabens, phthalates and UV filters,
and also their ability to cause reproductive impairments [3–6],
these substances are still extensively used and characterized as
Bsafe^. The main justification is the fact that manufacturers
keep the concentrations of the suspected chemical substances
low in accordance with the relevant legislation. However, the
possib.
More Related Content
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Running head FINANCIAL REPORTS ANALYSIS 2FINANCIAL REPOR.docxjeanettehully
Running head: FINANCIAL REPORTS ANALYSIS 2
FINANCIAL REPORTS ANALYSIS 2
Financial Reports Analysis
Name:
Institution:
Date:
Introduction
This paper will analyze financial reports of the leading giants in the fashion industry located in Europe that are Next PLC, and H&M. The analysis will capture the backgrounds of the two companies and evaluate their financial positions as of 2018. The report will tackle both horizontal and vertical reviews of the company with the inclusion of financial ratios. The companies’ profits will also be given importance in the analysis. Liquidation is an issue of concern to big companies included. The investment and efficiency in both Next PLC and H&M looked at to bring out the strengths and weaknesses of each company in the process of data interpretation. To finish the paper by analysis and review of the limitations to conclude the financial records of the companies presented.
Company Background
Next PLC
Next plc is a company that specializes in clothes and shoe fashion mostly — the company founded in 1864 in Leeds, England. The company has a financial target that aims at generating profits and achieving sustainability in the industry. It has over seven hundred stores, with 500 of them located in the United Kingdom and 200 distributed among European countries, the Middle East, and the continent of Asia. By 2018 statistics the company had about 43, 970 employees with a revenue of $4,055 million (Sabanoglu 2019).
H&M
H&M is a Swedish cloth retailer that focuses on fast-fashion designs for all members of society and ranked second in the industry. Erling Persson founded this company in 1947 in Sweden with women as the only customers. The company by 2015 had already acquired over 4500 stores globally, with about 132,000 individuals employed and income generated by 2016 totaling to $25.191 billion. To date, the company offers internet shopping in 33 countries (O'Connell 2019).
HORIZONTAL AND VERTICAL ANALYSIS
Parallel Analysis
In conducting a horizontal analysis of the companies in the report, their financial statements used by focusing on a specific time frame. In this report, the focus put on the information obtained as of the 2017-2018 fiscal year. Taking a look at Next PLC’s economic data as of 2017 $4097.3 million, and in 2018 the data indicates a drop in the revenues to $4055.5 million that represented a 1.02% decline in revenues. Next, PLC experienced a decrease in revenues, something opposite to their organizational objectives, something attributed to the volatile nature of U.K markets resulting in a high risk of sale (Singh 2018).
Focusing on H&M in 2017, their income was $27696.63 million, considered an increase from the previous years. In 2018 the revenues obtained by H&M totaled up to $23232.37 million a decrease in income compared to the last year by 16.1% in sales revenues. In this regard, found that H&M had the most substantial reduction in sales revenues from 2 ...
The Project gives details about the financial disclosure by different companies playing in different industries.
It included companies Bharti Airtel, Idea, Reliance Communications, Adani Enterprises, Container Corporation of India, Adani ports and Special Economic Zone.
This paper is the result of the information which has been acquired from the case file. We attempted our level most suitable to prepare this case solution.
Pt7-l
(similar
to).
(Financial forecasting) Zapatwa Enterprises is evaluating its financing requirements for the
coming year. The firm has only been in business for one year, but its CFO predicts that the firm's
operating expenses, current assets, net fixed assets, and current liabilities will remain at their
current proportion of sales.
Last year Zapatera had $11.74 million in sales with net income of $1.19 million. The firrn
anticipates that next year's sales will reach $15.09 million with net income rising to $2.03 million.
Given its present high rate of growth, the firm retains all of its earnings to help defray the cost of
new investnents.
The firm's balance sheet for the year just ended is as followr, i,F..
Estimate Zapatera's total financing requirements (total assets) and its net funding requirements
(discretionary financingneeded) for 2014. Nafe: Use the percentage of sales given in Zapatera
Enterprises' balance sheet for 201 3.
Tlne 2}t4retaired earnings are $[. (Round to the nearest dollar.)
Complete the pro forma balance sheet for 2014 below: (Round to the nearest dollar.)
ZapateraEnterprises, Inc.
Pro forma Balance Sheet tztSutt
Net fixed assets
Total
Liabilities and Owners' Equity
Accounts payable
Long*term debt
Total liabilities
Common stock
Paid-in capital
Retained earnings
Common equlty
Total $ ! I
Zapatera'stotal financing requirements (total assets) for 2014*" $[. (Round to the nearest
dollar.)
Zapateta'snet frmding requirements (discretionary financing needed) for 2Ol4*. $I. (Round to
the nearest dollar.)
Page I
-\
Data Table
Zapatenl Enterprires, Inc.
Current assets
Net fixed assets
Total
Liabilities and Oumers' Equif
Accormtspayable
Long-term debt
Total liabilities
Common stock
Paid-in capital
Retained earnings
Common equity
Total
3,300,fi)o
6,000,(x)0
__ug9,gaq
3,5m,000
1,900,000
1,300,m0
22m.,oA0
400,000
29.8r%
NAA
NAA
NA"
9,300,000
NAa. This figurc does not vary dilertty qrith sales and is assumed to remain cmstant
for purposes of forecasting next yeads fnancing requirsrn€nts.
Page I
(Financial forecastlng) ZapateraEnterprises is evaluating its financing requirements for the coming year. The
finn has only been iu business for one year, but its CFO predicts that thi finn's operating sxpenses, ""o*tassets, net fixed assets, and current liabilities will remain at their current proportion of sales.
Last year Zapaterahad $12.43 million in sales with net income of $1.24 million. The fimr anticipates that next
yeat's sales will reach $15.32 million with net income rising to $2.16 million. Given its present high rate of
growth, the firm retains all of its earnings to help defray the coslgf new investments.
The finn's balance sheet for the year just ended is as foilows: ffi.
Estimate Zapatsta'stotal financing requirements (total assets) *a it" net funding requiremants (discretionary
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Andhra Bank’s stock performance during the quarter (3QFY14) was ahead of fundamental in our view. Bank’s valuation may come down to 0.3 times (historical low) looking at bank’s own stress and fundamental. We have reduced rating on the stock with price target of Rs.66.
Narnolia Securities Limited expect that the KPIT Tech company would report better earnings with margin ramp up and signing of larger deals in next couple of quarters. Now, we upgrade our view on the stock from “Neutral” to “Buy” with a price target of Rs 185. At a CMP of Rs 160, stock trades at 9.5x FY15E EPS.
Financial Statement Analysis
During the recession many industries failed down which results into the loss of millions of dollars of the Investors and Stockholders. Later after all those incidents government has decided to make it necessary to have a financial statement to all the companies.
I am appointed as a Chief Financial Officer of the Norton Healthcare, which is operating in different parts of the country with hundreds of branches. All the financial statements should be made in each financial year, and that must be submitted to an independent financial organization. The firm will then analyze and give its recommendation as per the financial situation of the company. Company is more evaluating its strategies and decision regarding the business. The financial Statement is a necessary tool for the investor’s so that they can make investment decisions as per the financial performance of the company.
I have reviewed the financial health of the company by doing an internal survey. Years which I have covered during this are 2012, 2013 and 2014. The financial situation of the company is as following report.
2012:
2013:
2014:
In the Three consecutive years company has shown tremendous growth in terms of earning and increase in the total asset. In the year of 2012 the revenue generated by the company was $716,275,861 which was increase by the $ 65,772,910 in the year of the 2013. This increase in the Net asset in the beginning of the year shows a perfect path for the company as well as for the economy. Later in the year of the 2013, net asset of the company is become $2,241,164,734 which increases to $ 2,354,735,888 in the year of 2014. This shows a very good trend to the economy and the organization.
After analyzing the organization’s data one thing which impacts the organization is the non operating loss, the non operating losses in the year of 2013 increased many times and later on it increased many folds. This has negative impact on the performance of the company. The severe losses which are counted in the non operating losses are gain or losses from the investment, property sell and from the currency exchange. Non operating revenues and expenses show a loss of $1.9 million in the year of 2013, which was about $39.7 million in the year of 2012. The losses on the extinguishment of debt associated with this bond issued total $3.8 million. Losses on some software and hardware were about $2.4 million. The change in mark to the market loss position was about $ 10 million in the year of 2012 which was later improved to the $11.8 million.
As a CFO of the Organisation, I have some regulation which could be issued so that losses can be made under control. Non- Operating losses which accounts to millions in the year of 2013-2014, which can be minimized by selecting the thing which are involved within the organization and can be done separately by mitigating the losses. Losses due to the software and hardware which acco ...
Cost and benefit analysisWe are doing group presentation.docxvoversbyobersby
Cost and benefit analysis
We are doing group presentation tomorrow but we are struggling to make the
presentation sldies. We need presentation slides.
Could you guys help me? Maximum slides we have to make are 11 pages.
Below are structure of prejesentation we should do.
<>
In your analysis, make sure you take the followings into consideration:
•
the alternative projects ,
•
the groups who benefit and suffer from project,
•
list the physical impact of alternatives,
•
predict monetary value of those impacts (benefit and cost) over the life of project in terms of their present value,
•
conclude which of the alternative project should be selected.
-----------------
Addendum: PT slides
•
1 intro slide that discusses the motivation behind the project and CBA
•
Information about which groups have standing, and how they either benefit or lose from the considered policies
•
Numbers, sources
•
Conclusion
•
1-2 slides on other key information you would need to conduct a thorough analysis
•
1-2 slides at the end with a list of sources
Addendum: PT slides
Do Not Include:
•
Typos and spelling/grammar mistakes.
•
Basic definitions of CBA terms.
•
Too many pictures.
•
Unsubstantiated claims (unless you explicitly states that you had made the judgement call because there was insufficient data)
.
Cosmetics as endocrine disruptors are they a health risk.docxvoversbyobersby
Cosmetics as endocrine disruptors: are they a health risk?
Polyxeni Nicolopoulou-Stamati1 & Luc Hens2 & Annie J. Sasco3
Published online: 29 January 2016
# Springer Science+Business Media New York 2016
Abstract Exposure to chemicals from different sources in
everyday life is widespread; one such source is the wide range
of products listed under the title Bcosmetics^, including the
different types of popular and widely-advertised sunscreens.
Women are encouraged through advertising to buy into the
myth of everlasting youth, and one of the most alarming con-
sequences is in utero exposure to chemicals. The main route of
exposure is the skin, but the main endpoint of exposure is
endocrine disruption. This is due to many substances in cos-
metics and sunscreens that have endocrine active properties
which affect reproductive health but which also have other
endpoints, such as cancer. Reducing the exposure to endocrine
disruptors is framed not only in the context of the reduction of
health risks, but is also significant against the background and
rise of ethical consumerism, and the responsibility of the cos-
metics industry in this respect. Although some plants show
endocrine-disrupting activity, the use of well-selected natural
products might reduce the use of synthetic chemicals.
Instruments dealing with this problem include life-cycle
analysis, eco-design, and green labels; in combination with
the committed use of environmental management systems,
they contribute to Bcorporate social responsibility .̂
Keywords Endocrine active substances . Endocrine
disruptors . Cosmetics . Sunscreens
1 Introduction
Women and men all over the world use large amount of cos-
metic products in pursuit of everlasting youth, ignoring the
probable health risks. The commercial category of Bcosmetic
products^ entails substances or mixtures of substances that are
designed mainly for external use, for instance to improve the
appearance; clean; perfume; and sometimes protect as in the
case of sunscreens [1]. Many cosmetic products such as oils
and lipsticks contain UV filters, even though they are not
marketed under the term Bsunscreens^ or Bsun lotions^.
Cosmetic products contain active substances, preservatives
and also the so-called Bfragrances^ or Bperfumes^, the exact
composition of which remains a secret under the trade secret
standards [2].
Increasing scientific concern exists about the nature and the
safety of the ingredients used by the cosmetics industry re-
garding their endocrine-disrupting effects. Although numer-
ous studies have proved the endocrine-disrupting potential of
many ingredients, such as parabens, phthalates and UV filters,
and also their ability to cause reproductive impairments [3–6],
these substances are still extensively used and characterized as
Bsafe^. The main justification is the fact that manufacturers
keep the concentrations of the suspected chemical substances
low in accordance with the relevant legislation. However, the
possib.
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COSC2737 Assignment 2: IT Infrastructure in the Cloud.
In this assignment, you will combine 3 different cloud services to build an application of your choice.
Typically, this might include a web-facing component. The focus of the assignment is not this content, but
the infrastructure behind it – the “wiring”, if you will.
As part of the assignment, you will create a presentation video. If this is done well, you will be able to add
these to a portfolio of work that you can demonstrate at job interviews, etc….
NB. This assignment is focused on Amazon products, primarily because that is what we teach in ITIS,
but, you are also allowed to use Google or Microsoft products, or a combination – but only with prior
permission from the Course Coordinator. And we may not be able to help you if problems between
vendor products arises.
For this assignment, you will provide a simple working cloud implementation, and submit the contents in a
ZIP file to Canvas, along with a presentation video, a report, and an initial PDF “pitch” document submitted
some weeks earlier than the deadline.
Note that the web content itself is not evaluated, only how it is set up. So you can use material from
anywhere (as long as you cite it on the web pages).
List of Amazon Services: https://aws.amazon.com/products/
List of Amazon services available to AWS Educate: https://s3.amazonaws.com/awseducate-starter-account-
services/AWS_Educate_Starter_Accounts_and_AWS_Services.pdf also available on Canvas.
Submission Details
1. Build a cloud infrastructure using at least 3 components from the AWS list of products above:
1. This could be a server and storage, or compute, or whatever.
2. One of the components counted could be the use of Alexa services for query.
2. The topic of the website is up to you, but must have a least (say) 5 different pages, and must ideally
be some form of B2B flavour.
3. Submission will be the following:
1. Pitch Document – An initial “pitch” where you describe your proposal in a few paragraphs
(not more than a page)
1. This will be due in week 11
2. Worth 5%, and will provide feedback from your tutor.
2. Report – A PDF report containing the following sections
1. Rationale
- The rationale behind this website or cloud construction. More or less a copy
of the pitch in its final form.
2. Cost Estimates
- both development, fixed and cloud running and how these running cost
scales for LOW (1-1000 transactions/day), MEDIUM (1000-1,000,000), and
HIGH (above 1,000,000+ transactions per day) – hese costs all to be
itemised and justified
- Imagine you are a professional quoting for the job
3. An installation manual that
- contains instructions to recreate the website(s)
- A marker should be able to rebuild it him/herself from this
4. There is no limit on report size, but a guide is about 10-15 pages including figures,
screen dumps, etc.
.
https://aws.amazon.com/prod.
Cortes and the Aztecs Respond in writing to the following questi.docxvoversbyobersby
Cortes and the Aztecs
Respond in writing to the following questions after reading Cortés' letter on page 260 and watching the two videos above.
1. What aspects of Aztec life and culture favorably impressed Cortés? Of what was he critical?
2. With their belief in a pantheon of deities, how might an Aztec have reacted upon visiting a Christian house of worship such as Chartres Cathedral?
3. What is the Colombian Exchange? List the consequences of the exchange.
Make sure to:
· Write a short essay or paragraph of at least 100 words. Do not go over 250 words.
· Use concrete examples/details and avoid generalities.
· Address all questions.
· Use proper grammar and punctuation.
· If you researched your topic and are using information from what you learned, remember to cite your sources.
· Do not plagiarize. Your work will be checked by turnitin.com.
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Correlation and Regression
Forecasting is a critical job for managers. Correlation and regression are two statistical methods used by managers for forecasting.
Correlation allows you to quantify how closely two variables are related. The correlation values or correlation coefficients have a range between -1.0 and +1.0. The closer the value is to the absolute value of 1, the stronger the correlation. The negative or positive sign indicates if the variables have a negative or positive correlation. A positive correlation exists when both variables increase or decrease. A negative correlation exists when one variable increases while the other variable decreases. If the two variables are independent and have no relationship, then the correlation is 0.
Be careful not to confuse correlation and causality. For instance, you can be reasonably sure that higher distribution and lower prices both cause higher sales; however, there are many things in this world that are correlated mathematically but are not at all related.
Regression is a statistical technique that lets you construct an equation to describe the relationship between the movements of two variables. On a scatter plot, the regression equation would calculate the best-fit line through the points. Regression allows you to forecast and simulate different scenarios by ascertaining the relationship between causes and effects. The causes are known as independent variables or drivers. The effects are known as dependent variables or what is being forecast.
You need to have a sufficient amount of history for the dependent variable and all the independent variables that you might think are useful in predicting the dependent variable to build a regression model. The minimum number of observations required is generally between 20 and 30. A key concept for regression is that it uses the past to predict the future. It assumes that relationships between historical dependent and independent variables will hold true for present of future dependent and independent variables.
There is an extension to the regression model, known as the multiple regression model. Adding another independent variable to a regression model turns it into a multiple regression model. The equation can become quite complex when more than two independent variables are added to the model, but these equations are rarely calculated by hand. Most commercial spreadsheet, accounting, and statistics software include these in their function library.
Counselor Dispositional Expectations
Dispositions are the values, commitments, and professional ethics that influence behaviors toward others, and, if sincerely held, dispositions lead to actions and patterns of professional conduct. The Grand Canyon University Counseling Program’s dispositions adhere to the University’s mission statement, as well as to the established counseling profession codes of ethics.
The Grand Canyon University Counseling Program have adopted the following disposition.
Correlation and Regression StudyBackground During this week .docxvoversbyobersby
Correlation and Regression Study
Background
During this week you will identify a research question created in Week 1 for which correlation or regression would be the best statistical approach to take. If you do not have a research question that indicates correlation or regression, review the research questions posted by your peers last week and select one that is ideal for correlation or regression.
Discussion Assignment Requirements
Initial Posting – In your initial posting for this assignment, include the following:
•Identify an appropriate research question that would require the use of correlation and regression to answer.
•Describe why this question is appropriate for a correlational study.
•Identify the two variables in this study and each of their attributes: discrete or continuous, quantitative or categorical, and scale of measurement (nominal, ordinal, interval, or ratio).
•Do the variables fit the qualifications of a correlational study? Explain.
•What type of correlation would you expect to find for this study (i.e., positive or negative)? Explain.
•What predictions might you be interested in making with these variables if the correlation is found to be significant?
Article Critique: Correlation & Regression
The readings for this week focus on the concepts of correlation and regression. In this discussion we will apply those concepts to the review and critique of Wagenheim & Anderson (2008). For information on how to critique a research article, see the Coughlan et al. (2007) from your resources in Week 1 and UIS (n.d.) from your resources in Week 2.
In the body of your posting, include an overview of the following topics:
•Research question – State the research question for the study.
•Methods and study design – Describe the basic methods used, including the variables, sampling methods, data collection, etc.
•Data analysis – Summarize the statistical tests conducted, the results obtained from each test, and the conclusions regarding the research question.
•Critique – Critique the results of the study, paying specific attention to the appropriateness of the analyses conducted, any biases or assumptions that were made, practical significance of the results, and recommendations for improving upon the study (methods or analyses).
•Summary – Provide a brief summary of the study's findings in 2-3 sentences. Do not use any numbers or statistical terms, but provide a review that would make sense to someone who has not studied research methods or statistics.
Be sure to put information in your own words and to cite appropriately. Respond substantively to at least two of your classmates’ postings. Specifically, focus on their critique of the results and discussion of the analysis. Do you agree with their assessment? What questions did the study leave you with? How might you have done this study differently? What do you see as the limitations of the study as compared to your classmates?
Z, T, or Chi-Square Test Study
Background
During th.
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Correlate your job responsibilities with the Disaster recovery course outcomes listed above. Should be Minimum 200 words
Disaster Recovery Course Out-come
• Recognize the need for disaster recovery plans within organizations.
• Develop a complete and accurate disaster recovery plan.
• Assess risks that may impact an organization
• Identify data storage and recovery sites.
• Develop plans, procedures and relationships.
• Develop procedures for special circumstances.
• Test the disaster recovery plan.
• Continue to assess needs, threats, and solutions after testing the disaster recovery
plan.
Job Responsibility:
· Responsible in delivering the complete
Project Plan with total supporting data which included the status Reports, Issues Log, Performance Testing Matrix, detailed Testing Reports, Fine tuning Recommendation reports to both Executive Management & Senior Management
· Responsible to provide Technical and Functional Support to the users, tester and Business System Analysts
· Managing and Preparation of the Test Plan and Test strategy for the various projects
· Liaison with the onsite and offshore teams for testing status and issue resolution
· Tested the data mapping, fixing errors
· Tested staging table for EDI 210 Invoice, Balance Due Invoice, EDI 810 Invoice inbound, 850 Inbound Purchase order
· Tested Web service using SoapUI
· Involved in User acceptance testing (UAT)
· Written standard test scripts for Oracle Financial, Procure to Pay, SOA, web services
· Involved in standard Functionality testing in Phase I Phase II for 3 Instance
· Documented and communicated test results to the test Management and Business Management Team
· Worked closely with Developers team for different issues
· Experience with test automation tools like JIRA
· Worked on the testing of SaaS, Web services, XML and web application.
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Correctional CounselingRobert HanserScott Mire20111 The .docxvoversbyobersby
Correctional Counseling
Robert Hanser
Scott Mire
2011
1 The Role of the Correctional Counselor
CHAPTER OBJECTIVES
After reading this chapter, you will be able to:
· 1. Identify the functions and parameters of the counseling process.
· 2. Discuss the competing interests between security and counseling in the correctional counseling process.
· 3. Know common terms and concerns associated with custodial corrections.
· 4. Understand the role of the counselor as facilitator.
· 5. Identify the various personal characteristics associated with effective counselors.
· 6. Be aware of the impact that burnout can have on a counselor’s professional performance.
· 7. Identify the various means of training and supervision associated with counseling.
PART ONE: A BRIEF INTRODUCTION TO COUNSELING AND CORRECTIONS
There are many myths concerning the concept of counseling. Although the image of the counseling field has changed dramatically over the past two or three decades, much of society still views counseling and therapy as a mystic process reserved for those who lack the ability to handle life issues effectively. While the concept of counseling is often misunderstood, the problem is exacerbated when attempting to introduce the idea of correctional counseling. Therefore, the primary goal of this chapter is to provide a working definition of correctional counseling that includes descriptions of how and when it is carried out. In order to understand the concept of correctional counseling, however, the two words that derive the concept must first be defined: “corrections” and “counseling.” In addition, a concerted effort is made to identify the myriad of legal and ethical issues that pertain to counselors working with offenders.
It is very difficult to identify a single starting point for the counseling profession. In essence, there were various movements occurring simultaneously that later evolved into what we now describe as counseling. One of the earliest connections to the origins of counseling took place in Europe during the Middle Ages (Brown & Srebalus, 2003). The primary objective was assisting individuals with career choices. This type of counseling service is usually described by the concept of “guidance.” In the late 1800s Wilhelm Wundt and G. Stanley Hall created two of the first known psychological laboratories aimed at studying and treating individuals with psychological and emotional problems (Brown & Srebalus, 2003). Around the same time (1890), Sigmund Freud began treating mental patients with his patented technique of psychoanalysis. As a result, the origins of counseling can be traced to two different but simultaneous movements: (1) guidance and (2) psychotherapy.
Guidance
Guidance has been used as a concept to describe the process of helping individuals identify and choose what they value most (Gladding, 1996). Guidance can occur in any instance where one individual, usually more experienced, helps another to identify choices that best refle.
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Correlate health and safety issues at workplace with ideals.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Hartman, L., DesJardins, J., & MacDonald, C. (2014). 1.
Business ethics: decision making for personal integrity and social responsibility
(3rd ed., pp. 276-283). New York: McGraw-Hill.
No Wiki, Dictionary.com or Plagiarism
.
Correctional Program ShowcaseSubmitted BY Intensive moti.docxvoversbyobersby
Correctional Program Showcase
Submitted BY
Intensive motivational program of alternative correctional treatment (IMPACT)
IMPACT- Two phase program
Mission: to engage and rehabilitate the offenders with sentence of seven years
Goals: To engage the offenders into correction program for their betterment
To help the offenders to live a life with worth with out committing a crime.
Intensive motivational program of alternative correctional treatment (IMPACT) is a program that is based on the two phases, it is continuation shock incarcerations that initially started in the 1987. The mission of the program is to engage the offenders who are sentenced for 7 years into correctional program. Goals of the program is to engage the offender voluntarily in the two phase program and they can quite if they are not willing to continue the program. The offenders ahs to pass through the phases and complete the instructions of the drill instructors. The target population is based on the offender who do not mix in to normal general population. IMPACT is among the top three programs of the state to correct and rehabilitate the offenders (Mackenzie & Shaw, 2006).
2
Intensive motivational program of alternative correctional treatment (IMPACT)
Population : Offenders with sentence of seven years
Effectiveness:
Increased the prosocial behavior in offenders
Decreased the aggression and anxiety
Improvements have been seen in the offenders that lead them towards rehabilitation.
The program is effective for the offenders by send in to the offenders into military boot camps. Offenders who were engage in the IMPACT program were reported as having the high prosocial behaviors anxiety and aggression have been lowered in the offenders who have completed the program. Offender with change are promoted to the next phase of rehabilitation (Mackenzie & Shaw, 2006). It was designed because authorities are aware of that emotional instability is a main reason behind the offenses. Thus this program helped to provide emotional stability and also help in rehabilitation process.
3
Reentry Program
Reentry program is basically developed as a correctional program which is covering different aspects.
Educational paradigm
Health sector
Rehabilitation sector
Job skills and Employment Readiness program
Reentry programs is an effort made by the Louisiana corrections. The mission of the program is to provide the services regarding education, job and employment skills, substance abuse treatment and rehabilitation services are offered by the programs to education the offenders and help them rehabilitate in the society. Reentry program was designed to motivate those offenders who came again after relapse of drugs or crime. This program focus on all areas of life of offenders because it not only provided basic education but also provide job skills to make them productive member of society. Some profit and not for profit organizations help to design and to make it effective by financ.
Corrections in America - please type the answers separateDiscu.docxvoversbyobersby
Corrections in America - please type the answers separate
Discussion Board #2A : Research and discuss the differences between State and Federal Prison Systems. Who goes to Prison in each of these systems? What about Women Offenders? What about Juvenile Offenders?
iscussion Board #2B concerns Racial Issues within Prison Systems. Research and discuss if there is racial disparity as to who is sent to jail/prison. Are all groups sentenced equally? Why is there an issue with fair sentencing? Who is to blame?
.
Correction to be made for my code of ethical plan Inclusion of.docxvoversbyobersby
Correction to be made for my code of ethical plan: Inclusion of a letter from leadership to the reader of the Code of Ethics. This sets the tone and lets the reader know why the Board of Directors and management consider the code of Ethics important.
2. Accetable and unacceptable behavior on the part of employees.
3. Resources for more information and what to do if unethical behavior is seen such as contact information for an Ethics Compliance Officer or if someone needs to report unethical conduct. This includes reporting procedures.
4. Ethics training and awarness program for your company.
5. Consequences of unethical /or illegal behavior
6. The legal regulations of conducting business overseas.
7. The ethical code of conduct for employees and vendors
8. Distingushing between right and wrong in business dealings when the action is legal
9. Identifying the issues surrounding the motivation behind unethical or illegal business operations when the consequences are properly documented.
10. Anything else that you deem important support your ethical code of conduct plan.
11. Your ethical code of conduct plan should demonstrate your understanding of the concepts and ideas covered throughout the course.
1,250--1,500 words and references.
.
Correct the following paragraph. Insert or delete hyphens as nee.docxvoversbyobersby
Correct the following paragraph.
Insert or delete hyphens as needed in the following paragraph:
1
Attending College in New York City can be pretty scary, especially for a small-town girl from Des Moines, Iowa.
2
Since I am studying nursing, I decided to join Scorpions for Smiles, a student-volunteer-group that visits children who spend a-lot of time in the hospital wards for recovery or treatment purposes.
3
It's a great feeling knowing that a sick or hurting child is benefiting from my time and up-beat attitude.
4
The last time I visited, I brought coloring supplies so that Amy, the eight year old patient I usually spend time with, and I could draw pictures for her family.
5
Amy is a very well known patient; she is always playing practical jokes on the nurses and doctors!
6
When I went visited with my student group this past week, Amy wasn't there because she had an X-ray scheduled.
7
I left her a note with some crayons so that she could color after the procedure.
8
Next week is her birth-day.
9
. I won't be visiting that day, but when I do, I'll bring two plain t shirts to decorate with paints and markers.
10
The corner store near my dorm has cake-mix for only ninety nine cents!
11
. I'll bring a cake for Amy and-the-rest of her friends, too!
Step 2
Save and submit your assignment.
.
Correctional AdministratorsPrisons and jails are both clas.docxvoversbyobersby
Correctional Administrators
Prisons and jails are both classified as correctional facilities, however their missions and day-to-day operations can vary significantly. The types of offenders being held and the reasons they are incarcerated are notably different between a state or federal prison and a county jail.
In your initial response,
A)
Compare and contrast the role of a correctional administrator at a prison vs. a jail.
B)
Be sure to highlight the missions of both and how those missions impact the way day-to-day operations are managed by a correctional administrator.
Assignment Instructions:
1) Based on research, and
2) Using professional, scholarly sources, and
3) Submitted in APA 6th ed style, and
4) A minimum of 350 words, excluding the references list.
.
Corporations are making the assumption that everyone uses a sm.docxvoversbyobersby
Corporations are making the assumption that everyone uses a smartphone. How does this perpetuate the negative outcomes created by the “Digital Divide”?
Your rough draft is your work-in-progress version of your final paper (which is due on Sunday). The purpose of the rough draft assignment is to allow me to understand where your team is at, and to be able to provide feedback that you can use for refining your paper.
Your paper should have the following characteristics:
Be in APA format
Have the following sections:
Title page
Abstract (from Friday's assignment - revised according to the feedback that was given (if any).
Rough draft, this should address:
Introduction
Background/Literature Review
Relevant Theory Exploration
Findings/Examples
Lessons Learned
Future Research
References (non-annotated)
Appendix:
.
Corporation M, a calendar year corporation that began doing business.docxvoversbyobersby
Corporation M, a calendar year corporation that began doing business on January 1, 20X1, had accumulated earnings and profits of $30,000 as of January 1, 20X8. On July 2, 20X8, M distributed $22,000 cash to Mrs. C, M's sole shareholder. M had a $20,000 deficit in earnings and profits for 20X8. Mrs. C had an adjusted basis of $14,000 in her stock before the distribution. What is the amount of Mrs. C's basis in the stock after the distribution?
.
CORPORATE TRAINING 1
Running head: APA IS EASY
Paper Title
Student’s Name, Class
University of the Cumberlands
Note the
header &
the page
number.
Also this
the header
is l/2 inch
from the
top (p. 306)
Double spaced,
upper/lower case and
centered on the page.
See pg 41, APA, 6th
edition
Ask your facilitator if
they desire the date/their
name on title page.
APA doesn’t require it.
Running
head is
typically
optional –
ask your
instructor –
used
primarily if
publishing
CORPORATE TRAINING 2
Corporate Training
Today, managers need well-trained employees and are finding they do not exist.
Corporations are, therefore, providing additional training for their employees. One such training
program that is being added to corporate learning environments is an awareness of emotional
intelligence. Business managers are learning that successful managers need high Emotional
Quotient (EQ) or Emotional Intelligence (EI) to work effectively. Emotional intelligence is the
ability to accurately perceive emotions in self and others, to identify different emotional
responses, and to use emotional information to make intelligent decisions (Goleman, 2000). A
leading expert on EQ finds that “people good at managing relationships tend also to be self-
aware, self-regulating, and empathetic” (Goleman, 2000, p. 33). Emotional intelligence is
especially important “at the highest levels of the company, where differences in technical skills
are of little importance. In other words, the higher the rank of the person, the more emotional
intelligence capabilities are needed for decision making effectiveness” (Goleman, 1986, p. 94).
Emotional intelligence is crucial to a successful business career and for effective group
performance (Goleman, 1986). The core competencies required for emotional intelligence are
“the perception of emotions in one’s self and others, the understanding of these emotions, and
the management of emotions” (Feldman, 2001, ¶ 4). Success in the modern workplace requires
teamwork and collaboration. Emotional Intelligence training is essential since most modern
Title of
paper is
centered.
Do not
bold. Do
not cap.
Text is
ragged
edge,
double-
spaced
This is a
direct
quote
complete
with
quotation
marks so
the writer
must
provide
needs to
direct
readers to
direct
This is not
a direct
quote but
para-
phrased
Period after
Citation of
Short
quotes
CORPORATE TRAINING 3
companies rely on teams of employees working together, rather tha.
Corporate TAX homework problems. Need help with solving. email is .docxvoversbyobersby
Corporate TAX homework problems. Need help with solving. email is
[email protected]
Notes
Ch1 corporations
Complete the problems as presented in this document. You may create a new document and/or spreadsheet as needed. Any memo should be no more than 3 pages in length. Please state any assumptions used if problems are not clear.
Problem 1
Your client, a physician, recently purchased a yacht on which he flies a pennant with a medical emblem on it. He recently informed you that he purchased the yacht and flies the pennant to advertise his occupation and thus attract new patients. He has asked you if he may deduct as ordinary and necessary business expenses the costs of insuring and maintaining the yacht. In search of an answer, consult RIA’s CHECKPOINT TAX available on-line through the SNHU Shapiro Library. Explain the steps taken to find your answer.
Problem 2
Stacey Small has a small salon that she has run for a few years as a sole proprietorship. The proprietorship uses the cash method of accounting and the calendar year as its tax year. Stacey needs additional capital for expansion and knows two people who might be interested in investing. One would like to practice hairdressing in the salon. The other would only invest.
Stacey wants to know the tax consequences of incorporating the business. Her business assets include a building, equipment, accounts receivable and cash. Liabilities include a mortgage on the building and a few accounts payable, which are deductible when paid.
Write a memo to Stacey explaining the tax consequences of the incorporation. As part of your memo examine the possibility of having the corporation issue common and preferred stock and debt for the shareholders’ property and money.
Problem 3
Five years ago, Lacey, Kaylee, and Doug organized a software corporation, DLK, which develops and sells Online Meetings software for businesses. DLK is a C corporation. Each individual contributed $10,000 to the company in exchange for 1,000 shares of DLK stock (for a total of 3,000 shares). The corporation also borrowed $250,000 from ACME Venture Capital to finance operating costs and capital expenditures.
Because of intense competition, DLK struggled for the first few years of operation and the corporation sustained chronic losses. This year, Lacey, DLK’s president, decided to seek additional funds to finance DLK’s working capital.
CME declined to extend additional funds because of the money already invested in DLK. High Tech Venture Capital Inc. proposed to lend DLK $100,000, but at a 10% premium over the prime rate. (Other software manufacturers in the same market can borrow at a 3% premium.) First Round Capital proposed to invest $50,000 of equity capital into DLK, but on the condition that the investment firm be granted the right to elect five members to DLK’s board of directors. Discouraged by the “high cost” of external borrowing, Lacey decides to approach Kaylee and Doug.
Lac.
Solid waste management & Types of Basic civil Engineering notes by DJ Sir.pptxDenish Jangid
Solid waste management & Types of Basic civil Engineering notes by DJ Sir
Types of SWM
Liquid wastes
Gaseous wastes
Solid wastes.
CLASSIFICATION OF SOLID WASTE:
Based on their sources of origin
Based on physical nature
SYSTEMS FOR SOLID WASTE MANAGEMENT:
METHODS FOR DISPOSAL OF THE SOLID WASTE:
OPEN DUMPS:
LANDFILLS:
Sanitary landfills
COMPOSTING
Different stages of composting
VERMICOMPOSTING:
Vermicomposting process:
Encapsulation:
Incineration
MANAGEMENT OF SOLID WASTE:
Refuse
Reuse
Recycle
Reduce
FACTORS AFFECTING SOLID WASTE MANAGEMENT:
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
This presentation provides an introduction to quantitative trait loci (QTL) analysis and marker-assisted selection (MAS) in plant breeding. The presentation begins by explaining the type of quantitative traits. The process of QTL analysis, including the use of molecular genetic markers and statistical methods, is discussed. Practical examples demonstrating the power of MAS are provided, such as its use in improving crop traits in plant breeding programs. Overall, this presentation offers a comprehensive overview of these important genomics-based approaches that are transforming modern agriculture.
Basic Civil Engineering Notes of Chapter-6, Topic- Ecosystem, Biodiversity Green house effect & Hydrological cycle
Types of Ecosystem
(1) Natural Ecosystem
(2) Artificial Ecosystem
component of ecosystem
Biotic Components
Abiotic Components
Producers
Consumers
Decomposers
Functions of Ecosystem
Types of Biodiversity
Genetic Biodiversity
Species Biodiversity
Ecological Biodiversity
Importance of Biodiversity
Hydrological Cycle
Green House Effect
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Financial InformationPrepared for CFO of Custom Snowboar.docx
1. Financial Information
Prepared for CFO of Custom Snowboards, Inc.
Key Points for Bank Officer
Custom Snowboards has provided a vertical analysis, horizontal
analysis, and trend analysis for the banker to consider in making
his decision.
Vertical Analysis
In order for the banker to determine his investment is secure, he
will want to see several different lines from the vertical
analysis.
To begin with, the comparative income statements for Years 12-
2. 14 show that the company’s cost of goods sold has remained
steady each year, at 69.6% of net sales. Gross profit has also
remained steady at 30.4% of net sales each year. This shows
that the company has a history of not having large fluctuations
of cost of goods sold, meaning that their gross profit is fairly
predictable.
Total selling expenses have remained constant, at 11.8% of net
sales each year. This will be attractive to the banker, because
he will know that his investment is with a steady and
predictable company.
Total Operating Expenses have risen from 26.5% in Year 12, to
27.1% in Year 13, to 27.8% in Year 14. This is because Custom
Snowboards has increased their administrative salaries and
executive compensation. There has also been a slight increase
in utilities, which have gone up from 3.7% in Year 12 to 3.8%
in Year 14. Additionally, a slight increase in other general and
admin expenses can account for the increase in total operating
expenses, from 1.8% in Year 12, to 2.3% in Year 13, to 2.5% in
Year 14. All of these changes are relatively minor, but have
decreased the operating income from 3.9% in Year 12 to 2.6%
in Year 14.
The net earnings for the company have decrease slightly over
the past three years. Year 12 saw net earnings at 2% of net
sales, while Year 13 was 1.6% and Year 14 was 1.2%. These
changes are a result of the decrease in operating income.
A vertical analysis of the balance sheets for Years 12-14 show
that the company has more than doubled its cash and cash
equivalents, from 7% in Year 12 to 16% in Year 14. There has
also been an increase in other current assets, from 5.5% in Year
12 to 6.1% in Year 14. These increases in assets are great for
the company. Unfortunately, the company has seen total current
assets decrease from Year 13 to Year 14. Year 12 had total
3. current assets at 42.3%. This number jumped to 49.8% in Year
13, and then fell to 45% in Year 14. This reduction is because
Custom Snowboards saw a significant decrease in short-term
investments in Year 14. Short-term investments dropped to
1.7%, when they have been previously at 10% in Year 13 and at
8.6% in Year 12.
Another increase in assets did occur. Custom Snowboards
increased their furniture, fixtures, and equipment to 27.5% of
total assets. This number had been 17.3% in Year 12 and 16.7%
in Year 13.
The company has made great achievements in paying off
liabilities. Their mortgage has steadily decreased each year,
which means that they are making regular payments. This will
be attractive to a banker looking to make an investment in the
company. Further, other long term liabilities have decreased,
from 3.5% in Year 12 to 2.8% in Year 14. Total liabilities are
sitting at 48.5% of total liabilities and equity for Year 14.
Previous years were at 52.2% (Year 13) and 57% (Year 12). An
investment banker will be more attracted to Custom Snowboards
because of this information.
Another number that will encourage the banker is the
company’s retained earnings. In Year 12, only 8.4% of total
liabilities and equity went into retained earnings. In Year 13,
this number jumped to 14.3% and in Year 14 it went up to
18.5%. This increase is excellent; because that means that the
company is investing more money in itself.
Horizontal Analysis
The horizontal analysis shows that Custom Snowboards has seen
an increase in net sales and gross profit each year. Their sales
and gross profits were up 3.21% from Year 12 to Year 13, and
up 1.91% from Year 13 to Year 14. This indicates that the
4. company is continuing to grow.
Operating Income has decreased 11.98% from Year 12 to 13 and
also decreased 19.20% from Year 13 to Year 14. The large
decrease in Year 14 is likely due to the fact that administrative
salaries increased by 13.64% over Year 13 and executive
compensation increased by 10.26% over the previous year.
Due to the decrease in operating income, along with a 90.63%
decrease in interest income in Year 14, Custom Snowboards’ net
earnings are down by 27.79%. Year 13 saw a decrease of
14.42% in net earnings. These numbers will likely be
concerning to the investment banker.
The horizontal analysis of the comparative balance sheet shows
that total current assets are down by 8.3% over Year 13.
However, Year 13 saw an increase of 21.5% in current assets
over Year 12. The decrease in current assets in Year 14 is not
much of a concern, because total assets were increased by 1.5%,
due to the 66.7% increase in furniture, fixtures and equipment
over the previous year. Additionally, total assets increased
3.3% from Year 12 to 13. Custom Snowboards is a company
that is steadily increasing their assets, which will be attractive
to the investment banker.
All of the company’s long-term liabilities have been decreasing
from year to year, while the current liabilities have only slightly
increased. In fact, total liabilities were down 5.3% from Year
12 to 13 and decreased 5.7% from Year 13 to 14. This is a
strong plus for the company.
The amount of retained earnings and stockholder’s equity has
been increasing each year also. This means that the company is
seeing positive growth, and the investment banker will likely
consider Custom Snowboards a good investment.
5. Trend Analysis
The historical trend analysis for Custom Snowboards shows that
the company has been steadily increasing their sales each year.
The base year, Year 12, saw sales of $6,520,500. Year 13 saw
an increase of 103.2% and Year 14 saw an increase over the
base year of 105.2%. This trend analysis shows that while Year
14 didn’t see as large of an increase as Year 13, they still saw
one. The company feels that the worldwide economic slowdown
has impacted their sales in Year 14, but that the Winter Olympic
Games generated an interest in their product. It is pretty
impressive that even during rough economic times that the
company can still see an increase in sales.
The forecasted trend analysis sets Year 14 as the base year, with
sales of $6,858,600. Custom Snowboards expects to see an
increase of 103% in Year 15, 102% in Year 16, and 103.7% in
Year 17. This shows that the company is expecting to sell more
than the base each for each projected year. However, they are
anticipating Year 16 to not see sales as high as Year 15 and
Year 17. It is unsure why the company feels this will occur, but
regardless, it is still an increase over the base year and an
increase over Years 12-14.
The company’s sales predictions seem to be accurate. Their
predictions are not unrealistic, and are attainable. The company
also has the most durable and reliable product in their market,
which makes it even more likely that they will meet the sales
predictions.
Based on the historical trend analysis and the forecasted trend
analysis, the investment banker will not have any concerns, as
each year sees acceptable sales.
Mitigating Risks
6. There are some risks that the investment banker might be
concerned about, so Custom Snowboards should be prepared to
address them.
Risk: The decrease in total current assets.
The decrease in total current assets would be one thing that
catches the banker’s eye. Since short term investments have
decreased, it has lowered the amount of total current assets.
However, the increase in furniture, fixtures, and equipments has
balanced that out, giving total assets a small increase of 1.5%
over Year 13. Therefore, the banker should not be concerned
about this realignment of assets, so long as the company is sure
to point out to him that total assets have been increasing each
year. If the banker remains concerned, Custom Snowboards
should make efforts to increase their short-term investments for
the next reporting period by investing in short term stocks or
bonds.
Risk: Total operating expenses have been increasing and may
continue to do so.
Total operating expenses have been slightly increasing each
year, which may at first be a concern to the banker since they
are lowering the operating income. These expenses have been
increasing due to increases in administrative salary and
executive compensation. Custom Snowboards should be
prepared to tell the banker about additional employees that
needed to be hired due to increased sales. Additionally, the
company should be prepared to show that the increase in
executive compensation was also a result of higher sales. These
increases in salary and compensation are likely a result of the
company performing so well, and the investment banker should
not be concerned. However, in an effort to eliminate this risk,
Custom Snowboards could take action by lowering salaries or
paying less executive compensation if it is deemed necessary.
7. It will be important for the company to reassure the banker that
it is going to cut those salaries to reduce operating expenses, so
that the banker know that this pattern is not going to continue.
Risk: Net earnings have been decreasing and may continue to
do so
The net earnings for the company might also be considered a
risk by the banker. They have dropped from $110,400 in Year
13 to $79,725 in Year 14. This is in part because of the drop in
operating income, as discussed above. Additionally, the $2,900
drop in interest income for Year 14 can account for part of this
issue. This significant decrease in Year 14 can, and should be,
mitigated by having the company invest more in short-term
investments. Additionally, the company should take actions to
increase sales in the next year in order to increase net earnings.
These steps will allow the banker to see that the decreasing net
earnings are not a pattern that Custom Snowboards is going to
continue.
All of these risks will concern the banker, because they will
lead him to believe that Custom Snowboards will not be able to
pay back a loan. By mitigating these risks, the investment
banker is more likely to loan money to Custom Snowboards.
Ratio Analysis
The investment banker will also look at key ratios in Custom
Snowboards’ ratio analysis to see how they compare with their
competitor, Winter Sports. This will give the banker a good
feel for Custom Snowboards’ industry standing. The key ratios
that a banker will look at are discussed below.
Current Ratio
The current ratio tells if a company is able to pay off its
8. liabilities. The higher the ratio, the better able a company is to
pay off the liabilities with assets (Horngren, Harrison, & Oliver,
2009). Custom Snowboards had a current ratio of 6.85 in Year
13 and 6.21 in Year 14. Although this number has slightly
decreased, it is still a strong number, especially when compared
to Winter Sports’ current ratio of 4.2 in Year 14.
This means that Custom Snowboards is able to pay off its
liabilities, and is in a better position to do so than their
competitor. It also shows that the company is not too liquid.
This will be important for the banker to know, because it shows
that Custom Snowboards is able to pay off any loan he might
approve.
Acid-Test Ratio
The acid-test ratio is a way to determine if a company could pay
off all its current liabilities if they became due immediately.
For this ratio, a company should strive to have as high of a
number as possible. A 1.0 is considered a “safe” number
(Horngren et al., 2009).
Custom Snowboards had an acid-test ratio of 4.68 in Year 13
and 4.00 in Year 14. Both of these numbers beat Winter Sports’
ratio of 3.4 for Year 14. This means that Custom Snowboards is
able to pay off all their liabilities if they came due immediately,
and they are in a better position to do so than their competitor.
This will be a positive indicator for the banker that the company
will be able to pay off a bank loan.
Inventory Turnover
The inventory turnover ratio is a measure of how many times a
company sells its average inventory per year. A higher number
is better for a company, because it means that they can easily
sell their inventory (Horngren et al., 2009).
9. Year 13 saw an inventory turnover of 33.86, while Year 14 saw
an inventory turnover of 33.33. Winter Sports had an inventory
turnover of 30.4 in Year 14. This means that Custom
Snowboards is doing a better job of selling off their inventory
than Winter Sports is. While the number slightly decreased in
Year 14, the company is still doing a good job at selling their
inventory, which reduces inventory holding costs.
This information will be useful to the banker, because it will
show him that Custom Snowboards is capable of selling their
inventory quickly. This reduces holding costs, which frees up
more money to pay off a bank loan. Further, it shows that
Custom Snowboards is selling a product that customers want.
The banker will be unlikely to loan money to a company that
cannot sell its inventory because there is no demand for the
product.
Average Collection Period
The average collection period ratio tells how many days it takes
the company to collect on receivables. The smaller the number
is, the fewer days it takes for the company to get their cash
(Horngren et al., 2009).
Custom Snowboards has amazing average collection periods of
11 days for both years on the ratio analysis. This is far superior
over the competitor, whose average collection period is 32.5
days. This means that Custom Snowboards gets their cash from
accounts receivable far faster than the competition. This
benefits the company’s cash conversion cycle, giving them more
working capital, which will look attractive to the investment
banker. When a company has more cash, they are better able to
pay all debts, including any loan the banker may approve.
Debt Ratio
10. The debt ratio is a measure of a company’s ability to pay off its
debts. For this ratio, the lower the number is, the better of a
position the company is in (Horngren et al., 2009).
Custom Snowboards saw a debt ratio of 52.2% in Year 13 and
48.5% in Year 14. Winter Sports saw a debt ratio of 38% in
Year 14. This indicates that the competition is in a better
position to pay off their debts. However, Custom Snowboards
has improved their debt ratio from Year 13. It will be important
for the banker to know that improvements are being made
concerning the amount of debt and the company’s ability to pay
it off.
Gross Profit Margin
The gross profit margin is a very important number for an
investor to keep an eye on. An increase in this number means
that the company has had an increase in profits, while a
decrease could signal problems within the company (Horngren
et al., 2009).
For Years 13 and 14, Custom Snowboards had a gross profit
margin percentage of 30.4%. It would be ideal if this number
had increased, but a steady number is better than a loss. The
competitor, Winter Sports, had a gross profit margin of 32.10%.
This puts the competitor in a better position than Custom
Snowboards in Year 14, but just barely. The investment banker
is not likely going to be encouraged by the lack of growth in
gross profit margin, but since it is not a loss, it will probably
not deter him from giving Custom Snowboards a loan. A
growth in the gross profit margin would have indicated to the
banker that the company is increasing its profits, which make it
a good investment for the banker. The fact that the number has
remained steady does not make this a bad investment, but it’s
not a great one either.
11. Operating Profit Margin
The operating profit margin shows how much a company earns
in operating income per $1 of sales. A higher number means
that the company is making more money per sale, so a higher
number is preferable (Horngren et al., 2009).
Custom Snowboards had an operating profit margin of 3.3% in
Year 13 and 2.6% in Year 14. Winter Sports had an operating
profit margin of 5.20% for Year 14.
As previously discussed, Custom Snowboards’ operating income
has decreased due to increases in administrative salaries and
executive compensation. Showing the banker that the company
is taking steps to increase operating income by lowering salaries
or executive compensation will ease any concerns the banker
may have about the operating profit margin. Taking these steps
will also allow Custom Snowboards to catch up with Winter
Sports’ Year 14 operating profit margin of 5.20%. The
operating profit margin will be of interest to the banker,
because a company that makes more profit will be able to better
pay off their debts.
Net Profit Margin
The net profit margin tells how much of the revenues a company
gets to keep after all costs are taken out (Horngren et al., 2009).
Custom Snowboards had a net profit margin of 1.6% in Year 13
and 1.2% in Year 14. This decrease in Year 14 is once again a
result of a decreased operating income, which should be
corrected by the company by following the previous
recommendations. The net profit margin for Winter Sports is
12. 5.14%, which is considerably better than Custom Snowboards.
Once Custom Snowboards increases their operating income,
they will see their net profit margin increase. The investment
banker likely will not be too concerned about the current net
profit margin, because the company is still profitable and will
makes strives to improve. The profit margin is important
though, because it tells the banker if the company is managing
their expenses properly and if they are profitable. A company
that is not profitable will have a much harder time paying back
a loan.
Earnings Per Share
Earning per share is a measurement of the amount of income
earned for each share of a company’s outstanding common
stock. Ideally, this number will increase each year (Horngren et
al., 2009).
Custom Snowboards had earnings per share of 0.13 in Year 13
and 0.09 in Year 14. This is the opposite of what the company
wants to see happen. Winter Sports had earnings per share of
0.08. This shows that Custom Snowboards is still doing better
than the industry average, despite the decrease.
The banker will care about the earnings per share because they
help determine stock prices. The decrease that Custom
Snowboards saw in earnings per share likely means that their
stock prices dropped as well, providing less return for investors.
However, since they are still above the industry average, the
banker will likely not be too concerned about this. Custom
Snowboards should attempt to increase their EPS in the next
year by increasing their profits.
13. Return on Total Assets
The return on total assets tells if a company is using their assets
to earn a profit or not. For this number, it is ideal to have a
larger number than the industry average (Horngren et al., 2009).
Custom Snowboards had a return on total assets of 6.2% in Year
13 and 4.4% in Year 14. Winter Sports had a return on total
assets of 4.80% in Year 14.
This information will tell the banker that once again the
decreased operating income has impacted a ratio. The
decreased operating income lowered the amount of earnings
before income taxes, which lowered the ratio for Year 14. Even
still, the 4.4% ratio is not that much lower than the competitor,
and if Custom Snowboards lowers their operating expenses,
they should be able to easily exceed the competition in the next
year. The banker needs to look at this ratio to determine if the
company is managing their assets properly to earn a profit. A
company who is unable to do this would not be a good choice to
loan money to.
Return on Common Equity
The return on common equity can tell a company has much
income is earned for each dollar that is invested in common
equity (Horngren et al., 2009).
The return on common equity for Custom Snowboards in Year
13 was 12.9% and in Year 14 was 8.5%. For both of these
years, this number is higher than the number for the return on
total assets. This indicates that Custom Snowboards has been
trading on equity. This is not a problem for the company, since
their debt ratio is still in the “safe zone”. However, trading on
equity has a tendency to compound a company’s losses in bad
14. years (Horngren et al., 2009)
Winter Sports is in the same position as Custom Snowboards.
They, too, are trading on equity, as can be seen by comparing
their Year 14 return on common equity of 8.10% to their debt
ratio. However, Winter Sports has the benefit of having a
smaller debt ratio, making their return on common equity less
concerning.
The banker will be interested in this information about Custom
Snowboards because if the company has losses in future years,
those losses will be compounded. This will make it unlikely
that Custom Snowboards would be able to make loans payments
in those years, if this problem occurs.
Price/Earnings Ratio
The price/earnings ratio shows the market price of a share of
common stock to $1 of earnings. This ratio is mainly used for
factual information instead of for creating a plan of action, as
market prices of shares are not controlled by the company
(Horngren et al., 2009).
The price/earnings ratio for Custom Snowboards in Year 13 was
79.71, and was 35.77 in Year 14. This decrease is not good. It
indicates that investors are not willing to pay as much, because
they are losing faith in the company’s future. The
price/earnings ratio for Winter Sports in Year 14 was 29. This
shows that despite the decrease, inventors still have more faith
in Custom Snowboards than they do in their competitor.
This information could prove to be important to the banker,
although he could look at it two different ways. If investors are
losing faith in Custom Snowboards, it could be an indication
that the company is headed downhill and shouldn’t be given a
loan. However, since Custom Snowboards is doing better than
the industry average, it could mean that the company is in no
15. trouble whatsoever. It is unlikely that the banker will consider
this information too much though, as it is not controllable by
the company.
Times Interest Earned
The times interest ratio is a measure of how many times a
company’s interest expense can be paid with operating income.
Higher numbers are preferable, because it means that the
company can easily pay its interest expenses (Horngren et al.,
2009).
Custom Snowboards had a times interest earned ratio of 2.80 for
Year 13 and 2.41 for Year 14. The drop in Year 14 is not a
concern, because it is not a significant drop. Custom
Snowboards still has enough operating income to pay their
interest expenses.
Winter Sports has a times interest earned ratio of 5.1 in Year
14. This number shows that for Year 14, Winter Sports was at a
considerable advantage over Custom Snowboards, because they
had more ability to pay off their interest expenses.
The banker will be very interested in these numbers, as he will
need to judge the ability of Custom Snowboards to make
interest payments on any loan he might approve. Although the
company decreased their Times Interest Earned ratio, and did
they near that of their competitor, Custom Snowboards is still
able to pay their interest expenses. This is good news for
Custom Snowboards, because the banker will not want to loan
money to a company without the ability to do so.
Conclusion
16. Custom Snowboards should be prepared to provide the
investment banker with all financial documents pertaining to the
company, including the different types of analysis, the trend
forecast and future predictions, and the financial ratio analysis.
Further, the company should be prepared to answer any
concerns the banker might have about risks with the company.
The company should also come with a plan for the banker about
how they plan on paying back the five-year loan. Doing so will
allow the banker to review the company information in order to
make his determination.
Works Cited
Horngren, C., Harrison, W., & Oliver, M. (2009). Accounting
(8th ed.). Prentice Hall. ISBN 0136072976.
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