Introduction to Accounting - AAS3 Coursework Example | Topics and Well Written Essays - 1500 words

Introduction to Accounting - AAS3 - Coursework Example (Morrisons Annual Report, 2012) Moreover, it has 475 stores throughout U.K, while the new CEO, Dalton Phillips has quoted to have said to acquire 100 new stores in London and Southeast. (Morby, 2013) According to their latest annual report, Morrisons employ 131 thousand persons who serve 11 million customers every week. (Morrisons Annual Report, 2012) The current year has brought some positives for the chain of stores in form of two major achievements. Firstly, it has been able to strike a very important deal with Ocado to market its food online, and secondly, it has been able to add 200,000 sq feet of space in only 3 months to cop up with the fierce competition that has prevailed within the industry. (The Guardian, 2013) At present, Morrisons is standing tall due to its good practices in supply chain management, which kept it safe from the latest horsemeat scandal that adversely impacted Tesco. (BBC News, 2013) Today, it is growing at a rapid pace as can be seen by their decision to adopt cash management systems, online food business and the opening of new convenient stores. (Neville, 2013) TABLE OF RATIOS Ratio FY2008 FY2009 FY2010 FY2011 FY2012 Industry 2012 Liquidity Quick Ratio 0.25 0.28 0.22 0.21 0.21 0.77 Current Ratio 0.49 0.53 0.51 0.55 0.57 0.95 Efficiency Asset turnover 1.70 1.77 1.76 1.80 1.79 1.49 Inventory turnover 27.43 27.56 24.87 24.03 21.67 17.95 Debtors Collection 5.5 6.1 3.4 4.3 3.9 2.5 Capital Structure Debt to Equity 74.4% 82.0% 77.0% 68.8% 82.7% 100.0% Debt to Asset 42.7% 45.1% 43.5% 40.8% 45.3% TIE 10.2 11.2 18.0 26.0 25.3 Profitability GPM 6.3% 6.3% 6.9% 7.0% 6.9% 29.3% OPM 4.7% 4.6% 5.2% 5.5% 5.6% 6.1% NPM 4.3% 3.2% 3.9% 3.8% 3.9% 3.8% ROCE 10.6% 10.8% 12.2% 12.9% 13.1% RATIO ANALYSIS The very objective of any business is to earn profits, thus financial strength plays a key role in its success. However, profit is not the only measure to assess the strength of the organization as many factors such as its ability to meet its obligations, its growth, its leverage and its efficiency of operations are some important factors in the process. (Brigham, 1998) Thus in order to better understand the Morrisons, not only the trend of the ratios will be considered but its current performance with respect to its industry will be considered as well. Liquidity The ratios of Morrisons indicate its lesser liquid position with a quick ratio that has hovered around 25% only since FY2008. Despite the assumption that Morrisons deals in an industry that prefers keeping large amount of stocks, even then the industrial average of 77% is 3.7 times larger than the 21% of Morrisons. Moreover, the current ratio which ignores the impact of inventory also suggests the same story which increased to 57% from the last year’s 55%, and still has remained considerably below the industry’s average of 95%. However, one may interpret such information in a positive manner as retail sector prefers low amount of cash to ensure minimum cash ly ing idle. Moreover, the size of Morrisons cannot be denied that allows it to stock large amounts of inventory on credit which only depicts the strength of the Morrisons than any liquidity crunch. (Brigham, 1998) Efficiency The efficiency ratios of Morrisons suggest an efficient system of operations. While asset turnover remained stable at 1.8 since last year, the inventory turnover posted a significant decline from 24 to 21.7, which was still better than

Equity valuation& analysis Essay Example | Topics and Well Written Essays - 500 words

Equity valuation& analysis - Essay Example The given quotes indicate that the general principles adapted by the market participants do not include the use of discounted cash flow method. Most of the market participants use their professional judgment in valuing the securities and their judge their returns rather than using more sophisticated methods to value securities. Literature on investment and corporate finance indicates that the best method to find out the value of any investment is to discount the future stream of cash flows that an investor expects to receive with an appropriate discount rate. This discounting of future cash flows i.e. dividends, therefore lead to finding out the intrinsic value of an investment. The critical difference between intrinsic value of any investment and its market price lies in the fact that intrinsic value is what the value of security should have been and market price is the actual money placed by the market on that security. The difference between the two values therefore indicates whether a security is under-valued or over-valued. Value investors therefore often tend to find out this difference in order to make their investment decisions. It is also important to note that the discounted cash flow method takes into account the element of risk which other methods fail to integrate. The discount rate which is used to discount the future streams of cash flows takes into account the risk premium which compensates an investor for taking risk by buying a particular security. Discount rate is often calculated with the help of Capital Asset Pricing model which is based upon the risk free rate, the correlation of individual security returns with that of the market returns and the market risk premium. Thus if an investor uses discounted cash flow method to find the true value of an investment, the element of risk is already

Gillingham FCs Essay Example for Free

Gillingham FCs Essay Scott Jones is a 27 year old, mediocre footballer, who plays for First Division club Gillingham. Gillingham are an average side who are likely to be in the First Division for a long while as they dont possess the quality to reach the Premiership, but they are too good to be relegated to Division two. Scott enjoys his job as a footballer due to the fact that he is getting paid a lot of money. He does enjoy his football, but the main reason he is a footballer is because he wants lots of money. Scott got recognised as a good footballing talent when he caught the eye of one of Gillingham FCs local scouts. Scott was playing for his Sunday league team at the age of 18, and gave an excellent performance. He had no knowledge of the scouts presence, until the manager said that the scout thought he had serious potential and wanted to sign him for Gillingham. Scott did sign, and within a few months of him joining Gillingham FC, Scott made the first team, and became a regular from there on. Scott has been at Gillingham for 9 years now and has become one of their best players. Scott enjoys playing for Gillingham FC but little does he know that his career is about to take a huge turn. Scott sat anxiously outside the managers office. He adjusted his tie, which he wasnt used to wearing, and sat there thinking to himself what this meeting could be about. He was confused as to whether he had done something wrong or whether perhaps the club wanted to extend his contract. He had no idea and was eager to get it out of the way. Scottie, do you want to come in? We need to have a little chat said Phil Taylor, the Manager of Gillingham Football Club. Scott stood up and entered the room nervously. Now Scott, we wanted your opinion on this and wanted to see how you felt before we did anything. Weve had an offer come in from Fulham for you. It is very generous, for both the club, and for you. You will be able to get a very good contract from them, and youll be able to play Premiership football. What do you say? Do you want to stay, or are you happy to leave? said Phil. Scott, who felt relieved that he wasnt in trouble, then replied Sounds good to me. If its good for the club then Ill go. Scott was extremely excited about the prospect of playing in the Premiership, but he would have to wait 2 months until he could sign, as the transfer window was closed. Scott was even happier about the fact that he would be getting paid an awful lot more money, his wages were being doubled. Scott felt on top of the world! As he was still contracted to Gillingham for 2 more months, Scott still had to train with them; however, he didnt have to play for them as Fulham made an agreement with Gillingham as part of the deal. Scott enjoyed training, even more so now that he knew he was moving to Fulham next season. Scott still trained hard, but didnt take it as serious as usual, as all he could think about was all that money he would be getting. Right lads, well do some 5 a side. Do some stretches then get yourselves into teams said the manager. Scott just wanted to play 5 a side and so didnt bother doing any stretches. This was a silly thing to do. Halfway through the game, Scott was running with the ball at his feet, and just as he was going to shoot, his studs got caught in the ground and he twisted his knee. It looked incredibly painful, and Scott was in agony. The Physio came on and took him back to the medical room, to see what he had done. It was very serious and so Scott had to be taken to hospital. About an hour after taking a look at Scott and doing some tests, the doctor came back with his diagnosis. Im afraid, its bad news. Youve torn cruciate knee ligaments in your right knee and you have also broken your ankle. This will take an enormously long time to recover from, and there is a 50% chance you will not be able to continue your career as a footballer, if indeed you do recover Scotts heart sank. His career was over, as was his dream of playing in the Premiership. At the age of 27 Scott would only have about 5 years maximum left to play as a footballer, but now, he would be out for at least 2 years, and if he did recover, he would be past his best. Scott was absolutely devastated. He would have to stay in hospital over night while they did more tests and then in a week, he would have to undergo a major operation. For the next week, Scott just stayed at home, in bed, thinking of what he could have become and how much money he could have got. He felt sorry for himself but he was also beating himself up thinking that maybe this whole thing would never have happened had he done his stretches before playing 5 a side. Scott was distraught and he had never been so down in his life. He was thinking, what can he do now?

Hypocrisy in Arthur Millers The Crucible Essay -- Essay on The Cruci

Hypocrisy in Arthur Miller's The Crucible â€Å"I want to open myself! ... I want the light of God, I want the sweet love of Jesus! I danced for the Devil; I saw him, I wrote in his book; I go back to Jesus; I kiss His hand. I saw Sarah Good with the Devil! I saw Goody Osburn with the Devil! I saw Bridget Bishop with the Devil!† Such a line was said by Miss Abigail Williams, who claimed to be a gift from God, but as we see, turned out to be the devil herself. Hypocrisy is the issue that many characters suffered from in the novel. We see hypocrisy in the lives of the religious leaders, or Reverends, of the town, we see it in the lives of the rich and greedy, as well as in the lives of the guilty. Hypocrisy seems to be the issue in the town of Salem. We see hypocrisy cover the lives of the religious leaders in Salem. Many of which claim to be holy men, and do not show it in the works of their lives. The reader discovers the greed in Reverend Parris as he claims to be a man of God. He never seems satisfied with the money he receives as pay for being a preacher as well as his wanting ...

Leadership revised

Answer to Question # 1 Sharon Daloz Parks, in his books entitled â€Å"Leadership Can Be Taught,† discussed leadership in an adaptive concept. Adaptive concept means that the word leader denotes to lead and in order to lead a group, you ought to be a procrastinator of time or think ahead of time. A person should have a view on what possible things might be encountered. Then think of the possible solutions for the upcoming problem. Anticipatory imagination is considering all the pros and cons of things. In adaptive leadership, it is believed that leadership can be learned. It deals with understanding and about behaviors and actions. It is not in any way an inherent trait. The adaptability of the organization depends on having a widespread leadership. The ideas should not only come from the people on the top, but it should come from people within the organization. Practicing adaptive leadership means making a holding environment where discussions of certain issues are kept safe. In addition, the adaptive leadership consulting is about understanding adaptive pressures and dynamics, and using those insights in creating successful changes. Adaptive leadership is a must in an organization because it paves the way for less problems to incur because in this process, the leader is futuristic, which considers the entire negative and positive things that will come their way.  As a mentor or guide, the leader has to be likened to an eagle which soars high and sees all things below. Leaders should have focused determination and an attitude for winning. Indeed, leadership is not a position but disposition. Answer to Question # 2 With regards to the to the character trait of embracing the negative, it is said that (a) Profit comes as a result of facing problems, so doing it is seen as a good thing, not a negative thing; and (2) The best way to solve a problem is not to have it to begin with. Embracing the negative means embracing problems. The person who is pessimistic or negative is a type of person who is always looking at the negative side of life. It seems that problem is bigger than the solution. Man in his struggle for existence need not grope in the dark but always look at the bright side of life. The dark side is the problem and the light side is the solution. As we face different challenges in our life, we must always think positive, never give up easily when trials comes our way and look at the brighter side of life. Always remember that in every problem, there is always a solution. The best way to do is to give up the negative, and learned to motivate and encourage yourself to think positively or be an optimistic. Thinking realistically and positively will become automatic in you as you go through your life. And the response to the problems when it comes to you the next time will be handled in a entirely a new way. It will then be easier for you to handle and face the next trials that will come to your life if you will become optimistic. It is indeed a long process and it will take some time for it to happen, but eventually, in the long run, it will happen. So it is better to start now on your journey to replace the negative thinking or being pessimistic with a positive thinking or being an optimistic. Profit comes as a result of facing the problems. Like David who faces Goliath, in our lives facing problems and trials will determine our strength and failure in life. Indeed life is a choice; we either choose life or death, problems or solutions, negative or positive. The rest is up to us. The best way to solve a problem is not to have it to begin with which means that in solving problems we need to look at the solution of the problem because in this way more concrete ideas will come our way. Keeping a positive attitude and not considering difficult things as problems would greatly help in attaining one’s goals. Sometimes when we have a problem, we keep on thinking that we have a problem and it is so hard to solve, how can I get over it? And in some cases, instead of solving the problem we engaged ourselves in drinking alcoholic beverages or taking prohibited drugs in order for us to forget that we have a problem. With these, we are not solving the problem. We keep on thinking about the problem not knowing that it will only aggravate the problem because emotionally we are affected by it. Instead of thinking about the problem on and on without doing something, we should face the problem, know what causes the problem and find the solutions. In every little problems that we encounter we must find solutions immediately, before it gets worse or become big that we cannot handle anymore. When we follow this kind of solving/handling the problem it will be easier for us to face the trials next time. If we continue with the way we do it the wrong way of solving the problem we will not gain something from it but if we start to face it now, and find solutions to the problem we will gain something from it and life would be easier. Answer to Question # 3 Three Essential/Necessary for Success: 1.   Competencies Competencies means being confident in whatever undertakings we had. Competencies means we are fully equipped to do things because of all the necessary ingredients of trainings, experiences and capabilities are stored within us. Successful people are confident people. 2.   Alliance Builder Alliance builder means we are also a support group. We love networking, linkages and alliances with people who are also a builder like us. Builder means they help us to grow as a person in every aspect of our lives. The saying that no man is an island is a complement of this so called alliance builder. To be in allegiance with the right people is indeed a blessing. Successful people are building other lives or alliance builder. 3.    Character or Integrity Character or Integrity is very important aspects for success. Character or integrity is the totality your whole being. Talents, riches and material things can make us on the top but character will make us stay there. Truly character depicts the real you. Six Character Dimension: 1)   Gain the complete trust of the people they were leading and capture their full hearts and following The saying that, â€Å"follow the leader,† means that a true leader is worth following for. They gain the trust and confidence of his followers and believe in every word he says. And being a good leader we should also be a role model to our followers. 2)      See all of the realities that were right in front of them. They had blind spots regarding themselves, others, or even the markets, customers, projects, opportunities, or other external realities that kept them from reaching their goals.  Ã‚  A true leader is realistic for their weakness and strengths. Blind spots means, that they are open to correction and suggestion because they don’t see everything like an imperfect person. They have teachable spirit and a humble heart to learn more things for their completion as a person. They want to learn more in areas like marketing, customer relations, projects, opportunities or other external realities in life because leaders are good followers. 3) Work in a way that actually produced the outcomes that they should have produced, given their abilities and resources  Successful leaders are results driven and results oriented. They work in a way that their given abilities and talents were used and exercised and applied to the fullest. 4)   Deal with problem people, negative situations, obstacles, failures, setbacks, and losses.  Successful people are not afraid to work with all kinds of people and situations. They consider it as a challenge and transcend their own interest and give themselves to larger purposes, thus becoming part of a larger mission a test for their testimony and they are winners and not losers in facing any failures, setbacks, and losses. 5.   Create growth in their organization, their people, themselves, their profits, or their industry.  Successful people are part and parcel of growth in any organization and a contributing factor for the success of other people and the industry in general. 6)    Transcend their own interest and give themselves to larger purposes, thus becoming part of a larger mission  This character trait for success is broadminded. Successful leaders want to widen his territories, his field of interest and horizons. He wants to connect with best minds and believe in the saying that â€Å"Iron sharpens Iron† for the betterment of themselves and others. Indeed, for them learning never ends from cradle to grave. Learning is a never-ending process we should never stop striving to learn more. References: â€Å"Avoiding Pessimism May Be More Important than Being Optimistic.† 1998.Ohio State University. â€Å"Ethics is our Religion: Creative and Optimistic Thinking.† 2006. North Virginia Ethical Society. McGrath, H. Phd. â€Å"Teaching Students to Think Optimistically. Deakin University: Faculty Education. Parks, SD. 2005. â€Å"Leadership Can Be Taught.† Amazon.com â€Å"Positive Thinking: Practice this Stress Management Skill.† 2007. Mayo Foundation for Medical Education and Research (MFMER). â€Å"Tips on Giving Up Pessimistic Thinking Habit.† 2006. Liesnet. â€Å"What is Leadership?† 2007. Amazom.com         

Annotated Bibliography Supervision And Staff Development

Annotated Bibliography Supervision Staff Development, SWGS 6615 Professor Hertz Oriana Golfarini March 8th, 2016 Introduction: Multicultural according to dictionary.com â€Å"representing several different cultures or cultural elements.† Multiculturalism is vital in the social work profession and especially in supervision because everyone involved (supervisor, supervisee, and client) cultural backgrounds and assumptions are taken into account. Creating a space for multicultural supervision allows for everyone to learn from each other. Multicultural supervision is important in today’s social work because the world is becoming more global and diverse and being able to have a space where all†¦show more content†¦Ancis, J. R., Marshall, D. S. (2010). Using a Multicultural Framework to Assess Supervisees Perceptions of Culturally Competent Supervision. Journal of Counseling Development, 88(3), 277-284. The authors interviewed four participants about their feelings on multi-cultural supervision. The participants felt their supervisors encouraged â€Å"explor[ation of] multi cultural issues with the goal of increase[ing] understanding of clients and of themselves† (p.282). The awareness of supervisor’s own multicultural understanding lead to more self-disclosure on behalf of everyone involved. One result from this study is the concept and complexity of advocacy and how involved supervisors are in supporting their supervisees in engaging in it. In this study supervisors were seen as â€Å"open, accepting, and flexible† (p.282) in the supervision process, which seemed to affect both relationships (supervisory and clinical). Eketone, A. (2012). The Purpose of Cultural Supervision. Aotearoa New Zealand Social Work Review., 24(3/4), 20-30. The author state all four types of cultural supervision (cross-cultural, culturally appropriate, culturally competent, and culturally effective) are applicable the work done between the MÄ ori social workers and their clients. The author believes it is difficult for mainstream agencies to â€Å"find appropriate cultural supervisors [added to the] lack of confidence in using MÄ ori approaches†¦by many young MÄ ori

The Crucible Film Essay - 1267 Words

The Crucible Film The Crucible; an intensely emotional and dramatic film based on the horrific story of the Salem witch trials. The opening and concluding sequences are of great importance in conjuring the melancholy atmosphere present throughout the story. The director uses various different devices to achieve this. A variety of camera techniques are used throughout the beginning sequence to enhance the mood and involve the audience. Camera techniques are harmonized with lighting effects to culminate this dramatic scene. I will begin by discussing examples of this. In the village, many close-ups and long shots are used to enhance facial expression and to set the sombre mood. Opening†¦show more content†¦Intermittent between tracking shots, the camera is set behind trees or branches as it follows the girls, as if they are being secretly monitored. When the girls are casting the spell, close-ups and fast paced pan shots are used to conjure a feeling of chaos and frenzy. Intermittent switching between shots further emphasizes this. For example; the camera switches from shots of the dancing girls to the tracking of Parris searching for them. This creates anxiety and prepares the audience for the scenes climax; Abigails uninhibited violence. Lighting and sound are another two key factors that can be manipulated to heighten the dramatic value of the scene. With the opening of the first sequence, the musical motif that accompanies Abigail throughout the film begins to play as she is introduced. It follows her emotions, the tempo increasing as she hurries to ready herself and creep out of the house. As the forest comes into view, the eerie surroundings are complemented by the change in music. Wind instruments accompany drums to create an uncanny aura. The absence of sound effects until the girls reach the forest focuses the attention of the audience on the characters. Sound effects are introduced immediately after they set foot in the forest. This technique creates a contrast in the girls mood - previously being sinister and silent,Show MoreRelatedThe Crucible Film Analysis1735 Words   |  7 PagesThe 1996 film adaptation of Arthur Miller’s The Crucible tells us far more about what modern society thinks the puritans are, than what the historic realities were. The film paints a one-sided and reductionist picture of puritan life and relationships, focusing on the themes of religious intolerance and how reputation is connected to the morals of a society. By examining the film on an analytical level, we can pull out larger connections between modern society and the purit an way of life. One ofRead MoreThe Crucible And The Film `` High Noon ``918 Words   |  4 Pages Originally, a person’s honor was determined by society, but the term has evolved to become more personal, or self-evaluated. 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The Crucible is a fictionalized story written by Arthur Miller about the Salem witch trials that took place in Massachusetts Bay Colony during 1692 through 1693. From France to the broadway theaters in New York the The Crucible appears conve ying its message to all who witness this piece of work. The Crucible is still one of Arthur Miller’s most produced plays today.  The Adaptations Behind The Work The Crucible is a fictionalized story written byRead Moregood1737 Words   |  7 Pagesunnecessary changes to plot and some flawed character portrayals, Nicholas Hytner’s 1996 film adaptation of Arthur Miller’s 1953 play, The Crucible, is overall a viable adaptation of Miller’s original work. Many of the directorial changes made by Hytner in creating this screenplay are successful in further emphasising Miller’s central ideas. The characterisation of Abigail Williams is captured appropriately in the film displaying her overall manipulative nature by drawing extensively on the original textRead MoreThe Crucible by Arthur Miller Essay714 Words   |  3 Pagescalled The Crucible I noticed many interesting facts. Many questions as well came to mind. The main question was â€Å"What was the Arthur purpose for writing The Crucible†? Well let’s start of by saying Arthur Miller was a extremely American play writing. Miller born in 1915, but where was his childhood? He grew up in New York with a Jewish family. Arthur Millers’ play went on Broadway at the Martin Beck. This occurred in the year of 1953. The play was called The Crucible. Was The Crucible even one ofRead MoreEvolution Of The Witch From Early American Literature1609 Words   |  7 PagesAmerican Literature to Contemporary Film Over time there have been many different stories and adaptations about the monster that is the witch. From one folktale, to a book, to a movie there are slight differences that make each interpretation very unique. The stereotype is, people think that witches have green skin, big noses, and that they fly on brooms with pointy hats. However, if we completely examine the different texts such as The Conjuring or The Crucible, we can see that certain events in