Autumn Short Story - 1275 Words

From the peak of the Empire State, she could scrutinize the world skid sleekly through her peripherals. However, it was not the world, just her world and hers only. Just a single vivid, scintillating, and breathing mass, an athletes heart through the midst of the suspenseful annual Boston Marathon. There was a manifold of people, the blood and fuel that has been powering this lively fourteen thousand, six hundred acres for a multitudinous past and equally unique years. The near two million inhabitants of this Broadway musical will always appear and continuously remain to be absurdly colourful. It was a typical nightfall during this passing season of Autumn. The midnight air was marginally algid and the lunar moon was complete as it†¦show more content†¦Exhausted she was, persevering to accuse the shadow, peering from the umbra lamplight, her friend, the insomniac. Her comrade the insomniac, was an exceptional friend indeed. It always raises her up in its rather brittle and whimsical tired arms, then proceeded to drop her in the kitchen, escorted by the minuscule blaze of the stove-light. Every night it would set her up a blind-date with passing half, full, quarter moons and constellations, keeping her awoken night shifting self in the perfect company. It repeatedly grant her reasons to think, many more to stay awake. She would walk through a distorted kitchen perception , through crepitating oak planks, with faltering kneecaps that clanked together delivering a reverberating metallic sonancy like clanking silverware. If she fell it would lift her, with strong arms and flimsy wrists. Those metallic, high pitched sounds, would pulsate in her ear like lousy overused church bells, that chose to constantly remind her. That if one day the lord helped an atheist, she would baptize herself in a somber abyss as immersed as the Marianas Trench, with und iscovered glinting, golden, gleaming, silky, rough strings of a feverish undying happiness. There was no need for a deluge into crimson waters†¦ The world is plump with the maple coated scent of Fall. The innumerable concrete lanes have begun to cripple with phosphorescent leaves this season has invited. With every breath MotherShow MoreRelatedShort Story : The Smell Of Autumn Wafts 1317 Words   |  6 PagesAs the smell of Autumn wafts in, I can see her, sitting in the back seat of the car--blue jeans, a gray windbreaker, and her long dark brown hair tied back into a ponytail. There are tears pooling in her eyes and on her face. They trickle parallel to her nose and over her soft pink lips. Those lips are moving; noise escapes from between them. She speaks with anger and frustration, lashing out at the couple in the front. There is a tightening in her chest. She forgets how to breathe. The man thatRead MoreAnalysis Of Edgar Allen Poe s The House Of Usher 1219 Words   |  5 PagesEnglish 3 Honors Disher 16 November 2014 The Poe Effect Edgar Allen Poe is known for his intricate and unsettling short stories and poems. Poe believed that an effect had to be an unifying aspect of a story. In his â€Å"Philosophy of Composition†, he writes about how the reader needs to feel the effect throughout a story and realize that the writing buttresses the effect. Poe’s short story, â€Å"The Fall of the House of Usher†, uses the quintessential features of the Gothic tale to fulfill Poe’s goals ofRead MoreThe Nightmare in Bullet Park884 Words   |  4 Pagesjourney. Often times people go on a quest in search of something they desire, but as protagonist Neddy Merrill discovers, the quest does not always turn out as planned and instead leads the quester in the direction of self-discovery. In his 1964 short story â€Å"The Swimmer,† John Cheever depicts the disastrous downfall of a man who impulsively decides to journey home through a course of swimming pools, but instead unconsciously escapi ng reality. Neddy Merrill abruptly decides to begin his journey homeRead MoreTravelers: Fantasists, Conjurers, and Seers of the World Essay1137 Words   |  5 Pagesnonfiction, Ozick strategically uses genre, diction, and exemplification to effectively emphasize that travelers see ordinary things in a new light when visiting other places and countries. She starts off by discussing a morning during a Swedish autumn. She describes the morning using a lot of imagery, saying things such as that it is enveloped in â€Å"a mysteriously translucent shadow† and it’s â€Å"as if a faintly luminous river ran overhead† (pg. 68). Ozick looks at the sun in a new light, being in countryRead MoreA Farewell To Arms And The Lottery By Shirley Jackson1392 Words   |  6 Pagesnovel â€Å"A Farewell to Arms† by Ernest Hemingway and the short story â€Å"The Lottery† by Shirley Jackson, there are distinct similarities and differences in the setting and symbolism used throughout. In order to see what the authors are trying to say, from time to time, you have to look deeper into the facts in the writing and analyze. Both of these stories are extremely stimulating, while still being heartbreaking. The styles that these stories have make you as a reader see things differently in yourRead More The Short Stories of Gabrie l Garcia Marquez Essay969 Words   |  4 PagesThe Short Stories of Gabriel Garcia Marquez Short story writer. Novelist. Journalist. Political activist. Nobel Prize winner. 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Myop is suddenly and violently thrust into a world in which skin color dictates how others in society will treat her. There is a noticeable shift in tone in The Flowers as Myop becomes exposed to the world outside her home. The initial tone of the short story is carefree and child-like. Although the point of view of the story is third person omniscient, it is stillRead MoreSummary Of Where Are You Going, Where Have You Been?854 Words   |  4 PagesConnie represents American innocence and powerlessness. Connie has a hard time defending herself against Arnold Friend because of her lack of knowledge and the impact of American culture. The mother-daughter relationship plays a significant role in the story because had Connie and her mother communicated better, Connie, who is still a child, would have be protected from the evil of the world. Barstow also points out that the modern American is unable to distinguish evil from good. Evaluation: This article

Anorexia Nervosa And Bulimia Nervosa Essay - 1944 Words

Throughout the twenty-first century there has been a social demand to be thin. Many famous men and women in the acting and modeling industry are expected to be skinny and are photoshopped in their pictures to make them look smaller than they are, which the everyday people see. â€Å"When you consider the average weight of a supermodel, the $70 billion dieting industry, or the 6 million to 11 million people who struggle with eating disorders, you come to one conclusion: America is virtually obsessed with thinness† (Wolchover). Our world is determined to be skinny and people become so obsessed, that they will start to see themselves as larger than they truly are and will take serious measures to accomplish their dream of being thin. This â€Å"thin fantasy† develops into eating disorders such as anorexia nervosa and bulimia nervosa. Although anorexia nervosa and bulimia nervosa are both eating disorders where the person has a misperception of his or her own body and relie s on starving/fasting, purging, and excessive exercise to lose weight, these conditions do vary in the way they are defined, diagnosed, and the effects they have on the body. People may automatically associate eating disorders with women but they do affect both genders, more women have an eating disorder than men, but both men and women can develop one. A female might think that she isn’t small enough so she’ll turn to starving or purging to lose weight, but a male could feel a need to be muscular and fit, so he’ll turnShow MoreRelatedAnorexia Nervosa And Bulimia Nervosa1452 Words   |  6 Pagestwo major types of eating disorders are Anorexia Nervosa and Bulimia Nervosa. One of the descriptions of anorexia nervosa was during the 12th and 13th centuries. A woman, Saint Catherine of Siena, ceased her intake of food for a spiritual denial of herself. During the 16th century people who had self-discipline and practiced abstention were suspected to be witches and were burned at the stake. In the 17th century all the way through the 19th century anorexia was perceived to be an endocrine disorderRead MoreAnorexia Nervosa And Bulimia Nervosa1122 Words   |  5 PagesAnorexia Nervosa and Bulimia Nervosa are a few of the most common disorders struggled with today. Anorexia Nervosa is a condition of the intense fear to gain weight, which results in consistent lack of eating. Bulimia Nervosa, involves frequent episodes of binge eating followed by throwing up because of fear of gaining weight. The mortality rate for anorexia is the highest of all mental disorders yet the genetic factors relating them were not a huge concern to look into. It is easy to think that Read More Anorexia Nervosa and Bulimia Nervosa Essay1163 Words   |  5 Pagescan suffer. 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This essay will also assess the symptoms, causes, health affects and the most prevalent characteristics of people diagnosed with these two eating disorders. â€Å"Anorexia Nervosa is characterized by self-starvation to avoid obesity. People with this disorder believe they are overweight, evenRead MoreEffects Of Anorexia Nervosa And Bulimia Nervosa1150 Words   |  5 Pagesto eating disorders, the media plays an influential role in the lives of many women. Eating disorders are abnormal and serious disturbances in one s eating habits caused by many factors. Anorexia nervosa and bulimia nervosa are two well-known eating disorders. The causes of anorexia nervosa and bulimia nervosa are difficult to understand but there are a lot of factors that play a role in the development of them. Females are more likely to develop an eating disorder and heightened concern about weightRead MoreEating Disorders : Anorexia Nervosa And Bulimia Nervosa1303 Words   |  6 Pagesdisorder. Out of all the eating disorders, the two most common are anorexia nervosa and bulimia nervosa. Anorexia nervosa is an eating disorder where people, who are underweight, see themselves as overweight. People with anorexia are obsessed with weighing themselves and eat small portions of a certain type of food. Some people can also have binge-eating disorder by self-vomiting, excessive exercising and extreme dieting. Anorexia is the fear of becoming fat and in order to stay thin, the personRead More Anorexia Nervosa and Bulimia Nervosa Essay examples2484 Words   |  10 Pagesprevalent disorders today are; Anorexia Nervosa and Bulimia Nervosa. Bulimia Nervosa affects 2 to 3 % of all women 15 to 40. Many young women between middle and high school develop often these bad habits to cope with the insecurities developing around them. These two disorders are affecting individuals younger and younger each year. Anorexia generally begins between 12 and 20 and coincides with the beginning and ending of high school. Recent studies have shown that Bulimia tends to affect 5% of all highRead MoreAnorexia Nervosa and Bulimia Nervosa Essay examples799 Words   |  4 Pagesfrom an eating disorder, one of the more recent to be the pop star Kesha. One of the eating disorders that Kesha suffers from is anorexia nervosa. Anorexia Nervosa is defined by the American Psychological Association as having â€Å" a distorted body image that causes them to see themselves as overweight even when theyre dangerously thin.† People who suffer from anorexia will usually avoid eating or eat very little and can even have social anxiety about eating in front of others. Genetics, a cultureRead MoreA Brief Note On Anorexia Nervosa And Bulimia Nervosa1280 Words   |  6 PagesAnorexia Nervosa and Bulimia Nervosa Eating disorders are classified as mental disorders and can lead to life threatening damage. It is important to manage eating disorders to prevent health effects. There are many different possibilities for patients with disorders. Common treatments for eating disorders can consists of counselor or therapists. Early detection is important to limit future oral health effects. A dental hygienist has an advantage to see the inside of the mouth for possible traumaRead MoreBulimia Nervos Anorexia Nervosa2594 Words   |  11 PagesBulimia Nervosa Bulimia originated in Greece, from the word boulimia, which is defined as extreme hunger (the Bella Vita, 2013). Bulimia falls into the category of being a purge disorder, a lot of the time people that struggle with bulimia may have times where they battle with anorexia nervosa, meaning they restrict themselves from eating. There have been so many cases where people battle with bulimia for years upon years, despite the large variety of treatment there is. There are many perspectives

Accounting And Financial Management Case Study of British Petroleum

Executive Summary Accounting and financial management are the main backgrounds of the report under which the financial evaluation of British Petroleum (BP) is conducted. BP is a leading company that explores produces, refines and markets oil and gas products including fuel, lubricants, energy and petrochemicals product. It deals in different segments including upstream, midstream and downstream to the oil and energy production. It serves customers demands across the world through globalise operations. Financial performance of the company over the last 5 years is depicting fluctuating trend as its net revenues has continuously been increasing and on the other hand, profits have declined. Financial performance of BP is evaluated with using different categories of ratios, including long term capital, liquidity, investors, financial risk/working capital management, and profitability and cash flow ratios. On the basis of ratio analysis, it is evaluated that BPs financial position is not satisfactory althou gh it has enough liquid funds as compared to other rivalry firms. Internal and external sources of finance are commonly used to obtain funds by the large company. New equity capital is commonly raised from retained earnings, loans and debentures. Overall, the given report provides a comprehensive knowledge of BPs financial position in all material aspects. Getting Tired of Never-Ending Assignments? Hire an Expert from MyAssignmenthelp and Get the Necessary Assignment Help at a Reasonable Rate. Table of Content Executive Summary Introduction Analysis and History of the Development of British Petroleum Company Financial Analysis Liquidity Analysis Current Ratio Quick Ratio Working Capital Management Analysis Stock Days and Stock Turnover Debtors Collection Period Creditors Collection Period Long Term Gearing Capital Gearing Interest Coverage Ratio Cash Flow Ratios Operating cash flow to maturing obligations ratio Free cash flow ratio Profitability ratios Gross Profit Margin Return on Capital Employed Investment Ratios Earnings per share (EPS) Source of Finance Key Areas to be considered Aim and Purpose of Obtaining Finance Factors Considering for the Source of Finance BP and Sources of Finance Conclusion Reference Appendix Ratio Calculation Balance Sheet Income Statement Cash Flow Statement Introduction The given report is based on the rigorous financial analysis of British Petroleum (BP) over the financial period of 2011 to 2012. Financial analysis of the company is done on the basis of the relevant financial ratios to evaluate BPs position in respect to liquidity, working capital management, profitability, long term capital and cash flow. Review of this report provides a good overview of the financial position of the company from the investment viewpoint. In addition to this, aims and objectives of getting finance, factors taken into account related to the source of finance, key areas considered for getting loan and selection of the appropriate source of finance are also being included in the report. The report covers the history and development of BP, financial analysis, sources of finance and lastly, the conclusion. Analysis and History of the Development of British Petroleum Company BP is a renowned company in the major integrated oil gas industry, which serves fuel, lubricants, energy and petrochemicals product. In all the related areas, the company deals to maintain its eminent image including exploration, production, refining, marketing and distribution of oil and gas along with power and petrochemicals production and marketing (BP 2013). There are three main segments within which the company operates including upstream, midstream and downstream. In the upstream segment, BP is involved in the production, field development and exploration of oil and natural gas. Main operations performed under the upstream activities are offshore platforms, processing facilities and wells and pipelines. In around 30 countries, namely India, Russia, Tobago, Norway, Angola, Brazil, Azerbaija, etc., BP Company operates upstream activities. On the other hand, the midstream segment is engaged in the natural gas (natural gas liquids and liquefied natural gas) storage, processing, marketing and trade. Downstream segment of the company is engaged in the petroleum and petrochemicals products related process including refining, manufacturing, transportation, marketing and trade. The operational activities in the downstream segment are furnished at Asia, North America and Europe. In the world, 15 refineries are owned by BP as per the recent figures of 2013. BP initiated its operations in 1889 and is located in London, UK. Currently, BP works with 85700 employees to serve the demand of petroleum, natural gas, motor and aviation fuels throughout the world (BP 2013). Posi tion of BP in this industry is quite good as it efficiently focuses towards social and environmental issues, stakeholder engagement and transparency in operations. In this context, the company is positioned on 1st rank as per Tomorrow Value Rating (Oil and Gas 2011). Overall, BP Company gives more emphasis on the corporate social responsibility for the welfare of the society and economy as a whole. As per the 5 year trend, net revenues/sales of the company decreased during 2008 to 2009 i.e. 196.99 bn to 153.32 bn respectively due to the financial crisis. Later, in the following years, revenues have shown an increasing trend, it was 192.44 bn in 2010, 234.44 bn in 2011 and 237.02 bn in 2012. Despite increased sales, the net income of the company declined during the same period. It was 11.5 bn in 2008 that reduced to 10.6 bn 2009, -2.41 bn in 2010, 16.03 bn in 2011 and 7.31 bn in 2012 (BP Plc ADS 2013). This exhibits that year on year, BPs net income decreased and its profitability got affected. On an average, the growth rate divided over the last 5 years equals to -4.84%, but dividend per share increased to 17.86% (BP Plc 2013). The positive trend of dividend payment is a good symbol for investment in the oil and gas industry. Overall, the financial position of BP is showing positive results which are evident from the year on year growth. Financial Ratio Analysis Detailed analysis of each ratio is explained under and their calculation part has been included in appendix. Liquidity Analysis Liquidity ratio shows the companys ability to pay its short term obligation/liabilities. The common ratios used to determine the liquidity position are Current ratio and Quick Ratio. Generally, higher the liquidity ratios are, higher the margin of safety and it shows the companys position to meet its current liabilities. (a) Current Ratio Ratio of Bp and other industry competitors Ratio 2012 2011 Competitors (Chevron Corp) Current ratio 1.45 1.16 1.63 Quick Ratio 1.07 0.84 1.25 (Chevron Corp CVX 2013)(Refer appendix (i) The current ratio is the ratio between current assets and current liabilities. Current Ratio indicates the companys ability to convert the current assets into cash and cash equivalents quickly so that the current liabilities can be paid off at time (Brigham and Ehrhardt 2011). On analysing the current ratio of BP, it can be concluded that in the year 2011, the results were not satisfactory but in the year 2012, the company showed some progress in maintaining good amount of current assets to pay its liabilities. The ratio of the company in 2011 was 1.16 and in 2012, it was 1.45. Therefore, the companys liquidity position as compared to the ideal benchmark is not acceptable. On comparison with the other industry competitors, the ratio of BP shows unsatisfactory figures. This indicates that the company is working less efficiently in comparison with other industry leaders. The increase in the current ratio of the company was due to an increase in working capital in 2012. (b) Quick Ratio Quick Ratio, also known as Acid Test ratio, is another type of ratio that is used to measure the liquidity position of the company. This ratio is similar to the current ratio but the only difference is that current assets do not include inventory and prepaid expenses. The reason for not including inventory is that many businesses are not able to convert the inventory easily. So, it is difficult to compare companies that maintain low level of inventory, like service sectors (Brigham and Ehrhardt 2011). The acid test ratio of BP Corporation stood at 0.84 in the year 2011 and it increased by 27 % to be at 1.07 in the year 2012. The large gap between the current asset and quick asset ratios indicates that the company uses its inventory to derive its liquidity. Therefore, the company achieved the ideal benchmark of 1:1 in 2012. On comparing with competitors ratios, results of BP Corporation are slightly low, which shows that competitors maintain more inventory level than BP Corporation. One of the negative impacts on a company with lower acid test than that of the industry and/or competitors is that lenders and creditors are likely to prefer dealing with other players in the industry as compared to that company. Thus, it is difficult to convince lenders and creditors for short term purposes. In summary, the liquidity position of the BP Corporation reflects inadequate results than its competitors. It is advisable to BP Corporations that it should increase its investments in the short term assets that will help the company to increase the proportion of liquidity driven by more liquid assets. Hence, it will increase both current and quick ratio. Working Capital Management Analysis For any business, working capital management is one of the significant factors to maintain the proper flow of entire production process. It refers to the effective management of the companys working capital or assets required to run the business on daily basis (Sagner 2010). Ratios of Bp and other industry competitors Ratio 2012 2011 Competitors (Chevron Corp) Stock Turnover Ratio 13.51 14.04 24.09 Stock Days 27 days 26 days 15.15 days Debtors collection period 35 days 41 days 32.27 days Creditors payment period 58 days 67 days 58.24 days (Chevron Corp CVX 2013)(Refer appendix (ii)) (a) Stock Turnover Ratio and Stock Days Stock turnover ratio reflects the speed of movement of inventory outside the company so as to generate sales, whereas stock days show the number of days for the inventory to be sold out and restocked (Sagner 2010). The stock turnover ratio of BP Corporation was 14.04 % in FY 2011 which decreased by 3 % to be at 13.51 % in FY 2012. This indicates that there is no significant change in the inventory level in the present year. On looking at the stock days, which is 26 days in FY 2011 and 27 days in FY 2012, indicate that the company can sell its inventory in about a month, but it is not upto the desired level. On comparing both ratios with competitors in the market, the results are totally unsatisfactory. The stock turnover ratio of competitors was 24.09 % which indicates that BP Corporation is not able to convert its stock in cash as fast as its competitors. Comparing the stock days with competitors, i.e. 15.15 days, show that BP Corporation is not working effectively. (b) Debtor (Receivables) collection period Debtor collection period states the capability of the company in turning out its receivables into cash so as to meet its current liabilities. This also leads to improve the liquidity position of the company (Bull 2007). Debtor collection period of BP Corporation in FY 2011 was 41 days, which was reduced by 6 days in FY 2012 i.e. 35 days. This significant decrease in the collection period was due to the new policy adopted by the company to collect its receivables more quickly. (c) Creditors Payment Period Creditors payment period ratio is used to calculate the number of days taken by the company to pay its creditors for the amount of purchases made (Bull 2007). BP Corporation payment period was 67 days in FY 2011, which decreased to 58 days in FY 2012. The decrease in payment period was mainly due to the decrease in receivables collection period. Compared to competitors (58.24 days), BP Corporation was not effective in 2011, but in 2012, there was a significant decrease in the payment time that made the company to stand with other competitors. Long term capital Ratios Long term capital or gearing ratio indicates the percentage of debt in the companys capital structure. So higher the gearing ratios, higher is the financial risk. The company has to pay the interest amount on the borrowed amount regardless of any revenue. Therefore, at the time of financial crises, the company is not able to pay its financial charges and has to use its retained earnings, or otherwise the company gets into the position of bankruptcy (Bull 2007). Ratios of Bp and other industry competitors Ratio 2012 2011 Competitors (Chevron Corp) Capital gearing ratio 46.51 % 46.34 % 10.80 % Interest Cover ratio 17.54 times 31.95 times (Chevron Corp CVX 2013)(Refer appendix (iii)) a) Capital Gearing Ratio Capital gearing ratio calculates the amount of geared part (Long term debt) in the total capital employed. It is the measure of degree of financial leverage, indicating the degree to which a companys activities are funded by owner's funds against outsiders funds.BP Corporations capital gearing ratio was 46.34 % in FY 2011 and 46.51 % in FY 2012. On comparing with the same industry competitors, which have the gearing ratio of 10.80 %, it can be concluded that the company has taken more loan amount. This indicates that the BP Corporation is at more financial risk as compared to other key players (Bull 2007). (b) Interest Coverage ratio Interest coverage ratio helps to calculate the companys ability to pay its interest expenses. Higher the coverage ratio, lower the financial risk (Bull 2007). The interest coverage ratio of BP Corporation was 31.95 times in FY 2011, which was decreased by 45 % in FY 2012 with 17.54 times. The decrease in the coverage ratio attributes to increase the long term liabilities and decrease the EBIT. In the nutshell, it can be concluded that the leverage position of the company is not as good as it should be. The company has a sufficient amount of profit to cover the interest expenses. This makes the company financially viable to make loans in the market. Cash Flow Ratios Cash flow is the most important element in evaluating the companys financial performance as it is not affected by any accounting policy. Therefore, it cannot be directly managed or manipulated. Ratios of Bp and other industry competitors Ratio 2012 2011 Competitors OCF to maturing obligations ratio 380.37 % 380.59 % 88 % Free cash flow ratio 0.88 1.24 1.25 Cash exhaustion ratio 711 days 568 days 223 days (Chevron Corp CVX 2013)(Refer appendix (iv)) This is used to calculate the extent to which the cash is generated from the operation activities to meet the current obligations (Bull 2007). This ratio was 380.59 % in FY 2011 and in FY 2012, it was decreased to 380.37 %. The current ratio was similar to the previous one as there is no major change in the amount of current liabilities. The competitor ratio was 88 %, which indicates that BP Corporation is much stronger in paying its current obligations at time. (b) Free Cash flow FCF shows the companys ability to cover the capital expenditure by using the cash flow from operating activity (Bull 2007).BP Corporation FCF was 1.24 times in FY 2011, which decreased to 0.88 times in FY 2012. The decrease was mainly due to the increase in the capital expenditure and decrease in the cash flow from the operating activity. The competitors ratio of 1.25 times indicates that the company is working efficiently to cover up the capital expenditures. Profitability ratios Analysis of profitability ratio helps to calculate the turnovers, margins and different returns on investments made by the company. Ratios of Bp and other industry competitors Ratio 2012 2011 Competitors Gross Profit Margin 7.39 % 12.34 % 41.81 % Return on Capital Employed 8.91 % 19.16 % 25.77 % Asset Turnover 1.25 1.28 11.83 (Chevron Corp CVX 2013)(Refer appendix (v) This ratio reflects the margin that is left out with the company after meeting its manufacturing cost (Bull 2007). BP Corporation gross profit ratio was 12.34 % in FY 2011, which decreased to 7.39 % in FY 2012. Competitors ratio was 41.81 %, which indicates that BP Corporation revenue income is not that sufficient to cover all the manufacturing expenses. (b) Return on Capital Employed The return on capital employed can be obtained by dividing the net profit by the capital employed (Bull 2007). BP Corporation Return on capital employed ratio was 19.16 % in FY 2011, which was decreased to 8.91 % in FY 2012. Competitors ratio was 25.77 %, which shows that the earning capability of the company is not effective or upto the mark. Investment Ratios Ratios of Bp and other industry competitors Ratio 2012 2011 Competitors Dividend yield 0.77 % 0.68 % Dividend Cover 2.23 Times 6.41 Times 3.80 times Earnings per share 0.608 $ 1.359 $ 13.42 $ (Chevron Corp CVX 2013)(Refer appendix (vi)) Earnings per share of a company indicate the ratio of the companys earnings to the amount of shares held during the fiscal year. For the ordinary shareholders, the amount of earning available is simply the profit generated in a given financial year less taxation, preference dividend, and interest expense. BP Corporation EPS was 1.359 $ in FY 2011, which decreased to 0.608 $ in FY 2012. Competitors EPS was 13.42 $, which indicates that the company is not earning enough to compete the industry competitors. Sources of Finance Leading organisations can obtain required/additional capital by using the available sources of finance that are categorised under two heads, namely, internal and external financing. Internal financial sources comprise retained profits, sales of existing assets, reduced level of inventories, and long time grant for supplier payment and timely collection for debtors. On the other hand, the sources of finance that are available in the external option are of three types including long, medium and short term. Long term source of finance includes shares, debentures, bank loan and grants, while medium term sources include hire purchase, leasing and bank loan for medium and short term, including bank loan, creditors and bank loan/overdraft (Buckle, Buckle and Thompson 2004). This shows that a number of financing options are available in the market through which organisations can get funds easily, but the lending organisations need to consider certain financial areas when considering a loan application. The following areas that should be considered are depicted as follow: Debt position: The lending organisation should consider the debt position of the company to measure whether the current debt exceeds to the defined limit or not. This financial aspect helps the lending firms to determine the worth of the company, which is used as a base for granting loan application. An analysis of debt position indicates the firms ability to pay off long term debts and procure additional loans (Houston and Brigham 2009). In the capital structure, the proportion of debt and equity used in the asset financing can be determined with this and further the same information will be used to measure financial burden on the company in order to its ability to serve the loan on the due date and long term solvency. Liquidity: Liquidity indicates the firms ability to pay out the credit on time. Review of liquidity position aids in determining the capacity to meet the loan instalments when they are due as it reveals cash or liquid assets availability (Gtze, Northcott and Schuster 2007). This financial area is significant for lending organisations to consider while viewing a loan application to measure whether the firm has enough liquid funds to pay the loan amount on time. Market reputation and risk: This is another financial area that is directly linked to the financial status as good market reputation and low risk indicate less chances of payment default. Market reputation is important to be considered for the lending institution to evaluate the trustworthiness in respect to the credit history, while risk indicates the level of risk in the companys matters and operational dealings. Profitability Growth: Growth of the company in terms of profits must be considered by a lending organisation as this is one of the key financial areas that reflect the earning power and capability. It could be easy for the lending firms to ascertain solvency over the short or long run with the evaluation of the profit earning and amount to be given out as loan. Profitability growth area is important to find out the ability to earn maximum profit by utilising available resources in the best possible way (Ezenwa 2013). On the basis of the key financial areas, the lending organisation will be looking for the borrowers capability of paying back the loan amount with interest within the due period. It considers all factors that affect the decision to grant a loan application such as profitability, long term solvency, debt position, past credit history, risk and growth prospect. On this basis, the main focus of the lending organisation is to provide loan to the borrower, who has enough financial means and possess high ability to service the loan. Overall, the lending organisations look for the commitment and trustworthiness of the loan taker or borrowers in order to fulfil their loan requisite. Aim and Purpose of Obtaining Finance: The main aim and purpose of obtaining finance from a large company are the business expansion and development. Today, a business requires additional capital/funds to adopt new technological advancements for better and faster processing. Moreover, companies obtain finance for flourishing the business units worldwide to capture a large market share, and ultimately contribute in keeping the sustainable position in the future. BP Company aims to obtain funds to expand its operations across the Gulf regions (Blackden 2013). In addition to this, the company is aimed to push forward its segment of exploration and production in order to improve the level of production along with expanding its global reach. This would aid in saving BPs operations by enhancing the production capability. Funds are to be obtained to payoff short and long term obligations that are due within a short time interval. Overall, the large company plans to obtain funds to explore business area/operations, improve produ ction efficiency, and technology advancements in order to sustain growth in all aspects. Factors considering for the Source of Finance Although the selection of the appropriate source of finance from the internal and external financing options is done on the basis of the fund requirements in the business, but there exist certain factors that need to be taken into account while deciding the source of finance, these are as under: Flexibility: Flexibility with the future financing decision is the most significant factor that must be taken into account as there is a direct interlink between present and future financial decisions. Flexibility in terms of paying short and long term debt is also needed to be taken into account as there is no provision of penalty for early payment in case of short term borrowing, while it is penalised in case of long term. Rate of Interest: This is another factor needed to be taken while preferring financing option for long, medium and short term. The rate of interest is not high in case of short term debts like in long and medium term debt. This factor aids in deciding the source that is suitable for a shorter period and has low probability of investment loss (Mumba 2013). Tax Benefit: Tax benefit or shield is also one of the factors that affect the selection of financing option/source. Tax shield or benefit is different in case of short and long term sources of finance (Ujwary-Gil 2011). Financial Risk and Outside Intervention: Financial risk and outside intervention in the companys affairs is also considered while deciding the source of finance. Internal sources of finance are comparatively less risky than external sources of finance. Moreover, raised funds from creditors induce probability of high outside intervention and high chances of information threat (Ujwary-Gil 2011). New equity financial options including retained profits, bank loans and debentures are the commonly preferred options having low financial risk. BP and Sources of Finance On the basis of the above discussed financial areas concerned for loan, it is being evaluated that whether BP would lend 10% of the total net assets as a ten year loan or not. The debt position of BP shows high sufficient margin for creditors due to increased stake of equity holders. As looking to the debt/equity ratio, it is analysed that the proportion of debt into equity has been decreased over the period of 2010 to 2012, which is indicated from the decreased value of the debt/equity ratio. It was 1.866 in 2010 that decreased to 1.62 in 2011 and 1.53 in 2012 (Yahoo Finance) that shows year on year improvement in the debt position of BP. As concerned to the liquidity position, BPs efficiency to pay short term obligations has slightly improved from 1.12 in 2010 to 1.43 in 2012. Despite the improvement in liquidity position, BPs ability to payoff short term debts on its due date is not satisfactory as per the standard ratio of 2:1. On the other hand, BP Company has enough liquid assets as compare to the industry average and thus, granting a bank loan to the company for a period of ten years is not risky for the lending organisation. Market reputation of BP is quite good which is evident from increased net revenues. Over the long term, granting 10% of the total assets (300,193,000*10%) i.e. 30,019,300 (Yahoo finance) for 10 years is profitable over the long run. Profitability of the company has declined as compare to the previous year as its expenditure has increased (Yahoo Finance). In the long run, BPs plan of expansion in Gulf would lead in gaining more and more profits and it is expected that the net income of the company will increased due to its improved debt position and good market reputation. Overall, it is concluded that ten year loan of 30,019,300 will be lend to BP as its financial position is showing improvement year on year and thereby, it is expected that the position of the company will also turn up in the long run. Conclusion In this report, analysis of last two annual reports for BP Corporation has been done. Most of the financial ratios used to conduct the company analysis have indicated that the company has a moderate financial position. The financial leverage position of the company is not satisfactory because earning before interest and tax is enough to cover all the interest expenses. In spite of huge profits made in the last two years, a return to dividend declared has remained low. A company that relies heavily on the internal sources of finance is less likely to declare high dividends as compared to those that rely on the external sources of finance, for example, loans. Desire to retain high liquidity levels are yet another reason why BP declared little dividends in fiscal 2011. The other section of report discussed some sources of finance to the company. It has been noticed that cash flows, financial accounting, liquidity, and need for cash are some areas the company need to consider before choosing a certain source of finance. Company is able to generate enough cash flow to pay dividends, undertake new investment projects, and maintain good liquidity ratios that attract lenders. Additionally, lenders will be keen on the financial accounting process of borrowers. Audited financial statements provide good information to a potential lender and company also has enough return to pay all the interest expenses. Therefore, lenders can provide bank loan for 10 years based on its net assets. Reference: Blackden, R. 2013. BP Urged to Keep Up Gulf Expansion. The Telegraph. BP PLC ADS. 2013. BP PLC. 2013.Bp. 2012. Annual Report and Form 20-F 2012.BP. 2013.Brigham, E. F. and Ehrhardt, M. C. 2011. Financial Management: Theory and Practice. Mason: Cengage Learning.Buckle, M.J., Buckle, M. and Thompson, J. 2004 . The UK Financial System. 4th ed. New York: Manchester University Press. Bull, R. 2007. Financial Ratios: How to use financial ratios to maximise value and success for your business'. UK: Elsevier.Chevron Corp CVX 2013. Morning Star Key Ratios.Ezenwa, E. 2013. Some Factors Bank Managers Consider Before Granting LoansAvailable at: Gtze, U., Northcott, D. and Schuster, P. 2007. Investment Appraisal: Methods and Models. Springer. Houston, J.F. and Brigham, E.F. 2009. Fundamentals of Financial Management. Cengage Learning.

Status Quo Essays - Youth, Students Union, Secondary School

Status Quo Status Quo 1776, The American colonies rebelled against their oppressive, imperialistic mother country Great Britain. They challenged the traditions of an ancient mother country to become an independent nation that would eventually lead the free world. Critical review of established laws, attitudes and beliefs are what this country was forged from. The United States exemplifies the idea that it is necessary to challenge practiced policies when they have become obsolete and ineffective. When governments are out of touch with the bodies they govern then they have become ineffective. This holds true for any situation where one group has control over another from the United States Congress, to state and local governments, and even school boards and administrators. Student life is fully regulated by those who are in noway subject to their own rules. Many examples of this are present in the hallways of schools across America. Most of the hypocrisies are not major travesties of justice, but they do lead to a feeling of second class citizenship among the student body. Little things like not being able to drink a cup of coffee in the hallway degrades students by questioning their ability to perform a simple task without causing problems or difficulties. Unbalanced legislation such as this, where there is a double standard, should be replaced to insure that regulations are to protect the welfare of a population. Not merely to oppress it. Another oppression in schools is the use of a permit pass system for movement from room to room. This practice of total documentation of a students movement throughout the school day is not only unnecessary, but also impractical. And can again lead to the feeling in students that they cannot be trusted because they are inferior to their older counterparts. An idea which is not cohesive to a learning environment by installing an attitude of failure before an attempt is even made. This unfair policy should be replaced with an honor system based on the students verbally informing those who are liable where they are going to be. Changes like this are often needed to transform a non-working system of regulation into a constructive guide for coexistence. Administration's control needs to be changed as well because in most cases it is comprised of professionals with the highest degree in their fields. This in turn means that a great deal of time and with it change has occurred between their actual experience of their first twelve years of education and their present state in life. This change makes for a ruling body which has no first hand experience into the psyche of those it controls. In short high school administration is totally disconnected from the student body because of its lack of experience in the positions students are in. This situation leaves students without their needs for control met because those imposing the restrictions do not understand the circumstances surrounding undesirable behavior. Even the allocation of power must be constantly reviewed. The idea of reviewing the control of those in power and their legislative decisions is where the United States found its beginnings. To follow the doctrine of a ruling body without evaluating its need and its effects is foolish. To simply continue in a set path because it is what has always been done leads to many problems. As time changes so must laws and regulations or they will become obsolete and potentially harmful. Wether it be school rules or the antique practice of imperialism by a nation, policy must undergo constant scrutiny to assure its applicability to those it affects.

Summary on Your Trusted Friedns by Eric Schlosser free essay sample

: Summary to miour Trusted Friends by Eric Schlosser. Eric Schlosser, an investigative Journalist best known for his book Fast Food Nation from where the piece miour trusted friends is taken describes few types of marketing strategies implemented by Walt Disney and Mc Donalds corporations. Throughout the text Schlosser is drawing parallels between Walt Disneys and Ray A. Krocs business practices. What they both had in common, as being friends and children of the same generation, they used in their business approach. One of the strategies adopted from his riend Walt Disney was synergy, which is the way of selling things by making licensing agreements with other companies for using their brand name. .. Another strategy was called cradle-to-grave(p. 190), where marketing campaigns targeted people of different age groups in their advertising. According to Schlosser, Krok believed that childhood memories of a brand will lead toa lifetime of purchases. He truly believed that the way the food is sold is as important as it tastes. We will write a custom essay sample on Summary on Your Trusted Friedns by Eric Schlosser or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page One of the most important comparisons the author of the book is stating between Walt Disney and Ray Kroc is that they both mastered their art of selling things to young children. The idea of borrowed from Walt Disney, resulted in creating the characters further utilized in advertising the Mac Donalds foods to children. Mac Donald used a thoughtful way to get kids to eat there by collaborating with other companies via selling their toys with happy meals and by making a mascot that would catch a childs eye. Fast-food companies went even further, creating the play lands, where smiling and funny Ronald Mac Donald was probably more appealing to the ids than the food itself at times. And it served its purpose of attracting huge numbers of children to Mac Donalds restaurants. Schlosser asserts that the idea of using characters in advertising of fast food companies is used to manipulate the children and make them like eating at their restaurants. A great deal of physiological research from marketing companies hired by businesses lies beneath every campaign. According to the author they analyze childrens artwork, hire children to run focus group, stage slumber parties and then question children into the night (p. 190). Internet became another important way of collecting valuable information about children. And if not the Childrens Online Privacy Protection Act effective 2000, internet would be still used to collect the data for further marketing approaches. advertising. Despite all efforts to protect children and ban the kids commercials, the congress made a decision to continue them. Creating videos featuring Mac Donald characters and selling them to kids, sponsoring sports and advertising their products 2417 on family channels all these steps strengthen the connections between fast-food industry and Hollywood.

The 1993 Battle of Mogadishu, Somalia

The 1993 Battle of Mogadishu, Somalia The Battle of Mogadishu was fought on October 3-4, 1993, during the Somali Civil War in Mogadishu, Somalia, between forces of the United States military supported by United Nations troops and Somali militiamen loyal to the self-proclaimed Somalian president-to-be Mohamed Farrah Aidid. Key Takeaways: Battle of Mogadishu The Battle of Mogadishu was fought in Mogadishu, Somalia, on October 3-4, 1993, as part of the Somali Civil War. The battle was fought between a United States Special Forces team and Somali rebels loyal to the self-proclaimed Somalian president-to-be Mohamed Farrah Aidid.When two U.S. Black Hawk helicopters were shot down, the initially successful operation degenerated into a desperate overnight rescue mission.A total of 18 American soldiers were killed during the 15-hour battle eventually depicted in the 2001 movie â€Å"Black Hawk Down. On October 3, 1993, a special operations unit of U.S. Army Ranger and Delta Force troops headed for the center of Mogadishu, Somalia to capture three rebel leaders. The mission was thought to be relatively straightforward, but when two U.S. Blackhawk helicopters were shot down, the mission took a disastrous turn for the worse. By the time the sun set over Somalia the next day, a total of 18 Americans had been killed and another 73 wounded. U.S. helicopter pilot Michael Durant had been taken prisoner, and hundreds of Somali civilians had died in what would become known as the Battle of Mogadishu. While many of the exact details of the fighting remain lost in the fog or war, a brief history of why U.S. military forces were fighting in Somalia in the first place may help bring clarity to the chaos that ensued. Background: The Somali Civil War In 1960, Somalia - now an impoverished Arab state of about 10.6 million people located on the eastern horn of Africa - gained its independence from France. In 1969, after nine years of democratic rule, the freely-elected Somali government was overthrown in a military coup mounted by a tribal warlord named Muhammad Siad Barre. In a failed attempt to establish what he called â€Å"scientific socialism,† Barre placed much of Somalia’s failing economy under government control enforced by his bloodthirsty military regime. Far from prospering under Barre’s rule, the Somali people fell even deeper into poverty. Starvation, crippling drought, and a costly ten-year war with neighboring Ethiopia plunged the nation deeper into despair. In 1991, Barre was overthrown by opposing clans of tribal warlords who proceeded to fight each other for control of the country in the Somali Civil War. As the fighting moved from town-to-town, the impoverished Somali capital city of Mogadishu became, as it was portrayed by author Mark Bowden in his 1999 novel â€Å"Black Hawk Down† to be â€Å"the world capital of things-gone-completely-to-hell.† By the end of 1991, fighting in Mogadishu alone had resulted in the deaths or injury of over 20,000 people. Battles between the clans had destroyed Somalia’s agriculture, leaving most of the country in starvation. Humanitarian relief efforts undertaken by the international community were thwarted by local warlords who hijacked an estimated 80% of the food intended for the Somali people. Despite the relief efforts, an estimated 300,000 Somalis died of starvation during 1991 and 1992. Following a temporary ceasefire between the warring clans in July 1992, the United Nations sent 50 military observers to Somalia to safeguard the relief efforts. US Involvement in Somalia Begins and Grows U.S. military involvement in Somalia began in August 1992, when President George H. W. Bush sent 400 troops and ten C-130 transport planes to the region to support the multinational U.N. relief effort. Flying out of nearby Mombasa, Kenya, the C-130s delivered over 48,000 tons of food and medical supplies in the mission officially called Operation Provide Relief. The efforts of Operation Provide Relief failed to stem the rising tide of suffering in Somalia as the number of dead rose to an estimated 500,000, with another 1.5 million displaced. In December 1992, the U.S. launched Operation Restore Hope, a major joint-command military mission to better protect the U.N. humanitarian effort. With the U.S. providing overall command of the operation, elements of the U.S. Marine Corps quickly secured control of nearly one-third of Mogadishu including its seaport and airport. After a rebel militia led by Somali warlord and clan leader Mohamed Farrah Aidid ambushed a Pakistani peacekeeping team in June 1993, the UN representative in Somalia ordered Aidid’s arrest. The U.S. Marines were assigned the job of capturing Aidid and his top lieutenants, leading to the ill-fated Battle of Mogadishu. Battle of Mogadishu: A Mission Gone Bad On October 3, 1993, Task Force Ranger, composed of elite U.S. Army, Air Force, and Navy special operations troops, launched a mission intended to capture warlord Mohamed Far Aidid and two top leaders of his Habr Gidr clan. Task Force Ranger consisted of 160 men, 19 aircraft, and 12 vehicles. In a mission planned to take no longer than one hour, Task Force Ranger was to travel from its camp on the outskirts of the city to a burned-out building near the center of Mogadishu where Aidid and his lieutenants were believed to be meeting. While the operation initially succeeded, the situation quickly spiraled out of control as Task Force Range attempted to return to headquarters. Within minutes, the â€Å"one-hour† mission would turn into a deadly overnight rescue campaign that became the Battle of Mogadishu. Blackhawk Down Minutes after Task Force Ranger began to leave the scene, they were attacked by Somali militia and armed civilians. Two U.S. Black Hawk helicopters were shot down by rocket-propelled-grenades (RPGs) and three others were badly damaged. Among the crew of the first Blackhawk shot down, the pilot and co-pilot were killed, and five soldiers on board were injured in the crash, including one who later died of his wounds. While some of the crash survivors were able to evacuate, others remained pinned down by enemy small arms fire. In the battle to protect crash survivors, two Delta Force soldiers, Sgt. Gary Gordon and Sgt. First Class Randall Shughart, were killed by enemy gunfire and were posthumously awarded the Medal of Honor in 1994. As it circled the crash scene providing covering fire, a second Blackhawk was shot down. While three crewmembers were killed, pilot Michael Durant, though suffering a broken back and leg, lived, only to be taken prisoner by Somali militiamen. The urban battle to rescue Durant and other crash survivors would continue through the night of October 3 and well into the afternoon of October 4. Though physically mistreated by his captors, Durant was released 11 days later after negotiations led by U.S. diplomat Robert Oakley. Along with the 18 Americans who lost their lives during the 15-hour battle, an unknown number of Somali militiamen and civilians were killed or injured. Estimates of Somali militia killed range from several hundred to over a thousand, with another 3,000 to 4,000 injured. The Red Cross estimated that some 200 Somali civilians - some of whom reportedly attacked Americans - were killed in the fighting. Somalia Since  the Battle of Mogadishu Days after the fighting ended, President Bill Clinton ordered the withdrawal of all U.S. troops from Somalia within six months. By 1995, the UN’s humanitarian relief mission in Somalia ended in failure. While Somali warlord Aidid survived the battle and enjoyed local fame for â€Å"defeating† the Americans, he reportedly died of a heart attack after surgery for a gunshot wound less than three years later. Today, Somalia remains one of the most impoverished and dangerous countries in the world. According to the international Human Rights Watch, Somali civilians continue to endure dire humanitarian conditions along with physical abuse by warring tribal leaders. Despite the installation of an internationally-backed government in 2012, the nation is now threatened by al-Shabab, a terror group associated with Al-Qaeda. Human Rights Watch reports that during 2016, al-Shabab committed targeted killings, beheadings, and executions, particularly of those accused of spying and collaborating with the government. â€Å"The armed group continues to administer arbitrary justice, forcibly recruits children, and severely restricts basic rights in areas under its control,† stated the organization. On October 14, 2017, two terrorist bombings in Mogadishu killed more than 350 people. While no terror group claimed responsibility for the bombings, the U.N.-backed Somali government blamed al-Shabab. Two weeks later, on October 28, 2017, a deadly overnight siege of a Mogadishu hotel killed at least 23 people. Al-Shabab claimed the attack was part of its ongoing insurgency in Somalia.

Characteristics of the Kingdom Animalia Essay Example | Topics and Well Written Essays - 500 words

Characteristics of the Kingdom Animalia - Essay Example The kingdom Animalia consists of over thirty different major phyla including Mollusca, Arthropoda,Cnidaria, and Chordata. The Chordates are the ones that are most popularly thought of as animals, but insects and mollusk-like creatures are just as much an animal as a koala bear and giraffe. Interestingly, the insects make up 87% of all the animal species on the planet. Members of the group Chordata are indeed special within the Animal kingdom though. They have in common five unique characteristics which distinguish them from other animals. At some point during their development Chordates have the following body structures: a notochord, gills, a hollow nerve cord, a tail past the anus, and a digestive tube behind the mouth. All animals have the ability to move around at a relatively rapid pace because of the presence of muscle tissue within their anatomy. In contrast members of the plant kingdom are generally rooted to one spot during their entire adult life.The Animal kingdom contains more members than any other kingdom with likely over a million different species on the planet. They range in size from just a few cells to whale-sized. Most of the animals on the earth live in the sea, some live in fresh water, and the smallest percentage of the Animal kingdom live on land. The Animal kingdom includes all amphibians, birds, bugs, fish, invertebrates, mammals, reptiles, and even prehistoric creatures such as dinosaurs and mammoths.