FAMILY LAW - [Debate] This house believes that English law should be Essay

FAMILY LAW - [Debate] This house believes that English law should be amended to permit same-sex couples to - Essay Example Therefore, this means that the state or county is liable for the successful implementation of the rights that are required by the common citizens so that the people can conduct these marriages and register their marriages through proper law. With the introduction of the act of defense of marriage, the people found it easy somehow and got a way clear on how to go about and encounter various problems and issues because this act was clear in its order that marriage by definition was the union of a man with a woman. So the people were aware that what type of struggle was coming their way for getting their points transferred successfully in the upper houses of the United Kingdom. Moreover, at the present time there is no dedicated agency that has recognition on government level for this same sex marriage that people have forced for legalization. Those people who agree to the point that the law of United Kingdom should be amended to permit the same sex marriage present various reasons in t heir favor. The very first point that they put forward is that if at any moment of time, any place in the country, if two people are having a relationship, then it is not the job of the government to know about and furthermore intervene into their relationship and label it illegal. These people should have their own rights equal as other citizens, and therefore there is need to have a definition of the nature and the extent of relationship that these couples can have legally. The same sex marriage advocates are of the view that their points and issues should be addressed and therefore the government should include the interests and recognition of the appropriate and committed people in their relationship and thus their rights to be respected by everyone. Therefore, if the laws of the UK are amended for stabilizing and legalizing the same sex marriage then simultaneously there would result in reduction in the need of the society to support these people and to treat them artificially. The people in the society mainly ensure that each of the spouses of the couple has got appropriate safety and thus an argument presented by the supporters of the same sex marriage there is practically no difference in the abilities possessed by the same sex and the opposite sex in fulfilling their commitments about anything they are suppose to do. An argument that arises due to the belief of the government to be involved in the marriage is that the issues that usually come forth due to the sexual acts between men and women and these people are of the view that the education of the children is well carried about if they live among their biological parents but at the same time there is much less chances of conflicts in same sex marriage as compared to opposite sex marriage. With all the points put forward by the advocates of the same sex marriage, the other point of view that goes against this type of marriage are also there. These people argue that the society of the United Kingdom that we live in encourages the legal marriages that is they prefer the monogamy type of marriage as they are of

Investment Ethics Essay Example for Free

Investment Ethics Essay The contemporary world of today functions on investment. There are many types of investment such as investment in property, shares, mutual funds, sugar, gold, oil, rice etcetera (Theodore , 1992). The list goes on and on with some forms of investment so inanely mundane like investment in over priced paintings by unknown artists that one is forced to shake their heads at the inanes of how far the concept of investment has come since its inception. Investment is described in dictionary as: â€Å"In finance, investment is the purchase of a financial product or other item of value with an expectation of favorable future returns. In general terms, investment means the use money in the hope of making more money. In business it is the purchase by a producer of a physical good, such as durable equipment or inventory, in the hope of improving future business. † Gambling on the other hand is almost as old as investment itself and its exact origins are unknown. Scientists believe that the ancient Romans would bet on the outcomes of chariot races and gladiator fights. It could be defined as: â€Å"†¦the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period (Linda , 2006). † Now, a raging debate in the world today is whether investment is or is not just another form of gambling. I am an opponent of this statement but will first give an argument in favor of the statement. The purpose of me including the definitions above was to prove that even the meaning of the words investment and gambling themselves are similar. Any kind of investment be it financial or physical, is done to gain money or to increase the investors’ wealth. Gambling also serves the same purpose which is to gain financially from an act (though some people gamble for the thrill of winning etc). Also, in money investment, finance managers everyday gamble outrageous amounts of other peoples’ money on chance. Such transactions entail high risks and if this is not a form of gambling then what is? In fact, in some religions like Islam, most forms of investment except investment in property and currency, is forbidden because they proclaim it to be gambling which is also forbidden in the religion. In that way, if for people of some faiths it is forbidden completely, then it is wrong from an ethical perspective because you are risking not only your own earnings but the money of those who have entrusted you with their wealth (like shareholders to security companies). In addition, it is wrong from a moral point of view. This is because gambling gives rise to selfishness in the human heart. Greed is a natural emotion for almost all people and investing money in the form of higher returns gives birth to insatiability for more money which is why we often see people at casinos squander all their gambling winnings in hope of winning more and more. It is selfish because gamblers profit on the wealth of others and do not care about the next person or what big a loss he suffers. Another way that gambling can be wrong is that it may make people idle and complacent. They may be happy to earn their money through gambling only. They may not work hard because of this for a living because of this and continue to live off gambling without caring that it is not a permanent or very stable source of income (Elizabeth , 2007). But even though their definitions may be partly similar, the two words are not common in their truest sense. I agree that investment puts peoples’ money at risk for chance of a higher return but it is done by professionals like investment managers and financial accountants instead of novices or any Tom, Dick and Harry trying out their luck like in gambling. It is a whole structured business activity with companies spending months deciding how to spend their customer’s capital and hedging (or insulating) the investment against any negative exchange rate or interest movement. Gambling on the other hand requires no such months of planning and development and can be done on the spot. Secondly, gambling involves one party losing and the other winning. The winning of one depends on the other’s loss. In investment, there is no such tradeoff and all investors can benefit at the same time. Another very valid point here is that gamblers often don’t have the same intensive information that investors have. In the long term, gamblers are always paid less in winnings then they have invested. That is not the case with investment. So the debate between whether gambling and investment continues unresolved with both sides vehemently arguing their point. Works Cited Theodore, V. Ethics in Investment Profession. Research Foundation of the Institute of Chart. (May 1992). Linda, K. T. Managing Business Ethics. Wiley. (Aug 2006). Elizabeth, A. C. The Psychology of Ethics In finance and Investment. Research Foundation of CFA Institute. (June 2007).

The Medias Influence on Eating Disorders Essay -- Essays Papers

The Media's Influence on Eating Disorders The National Eating Disorders Association states that eating disorders are conditions that arise from factors including physical, psychological, interpersonal, and social issues. Media images help define cultural definitions of beauty and attractiveness and are often acknowledged as one of the factors that contribute to the rise of eating disorders (NEDA). The National Eating Disorders Associations website, "The Effect of the Media on Body Satisfaction in Adolescent Girls", "The Media's Influence on Body Image Disturbance and Eating Disorders", and "Dieting Behaviors, Weight Perceptions, and Life Satisfaction Among Public High School Adolescents" are all articles that evaluate how the media may cause adolescent girls to develop eating disorders. In order to understand how the media?s portrayal of body image has an influence on adolescent girls developing eating disorders one must understand the attitudes young girls have about their body images, the emphasis on female thinness de picted in magazines and on television, and the way young women are influenced by the media. Body dissatisfaction has become the norm for female adolescents in America (Valois et al. 271). Body dissatisfaction is a result of the difference between the ideal self versus the perceived self (Champion and Furnham 214). Thompson and Heinberg found that girls who watch 8 hours or more of TV in a week will have greater body image dissatisfaction than girls who watch less than 8 hours of TV per week (342). This shows how girls who are exposed to television will develop negative feelings towards their body?s image. Negative feelings towards body image can often lead one to try various ways to lose weight. ... ...the media, it could reduce body dissatisfaction, and as a result it would decrease potential eating disorders (?NEDA?). Works Cited Champion, Helen, and Adrian Furnham. ?The Effect of the Media on Body Satisfaction in Adolescent Girls.? European Eating Disorders Review 7.3 (1999): 213-228. National Eating Disorders Association. 2002. 5 Apr. 2005 <http:// www.nationaleatingdisorders.org/p.asp?WebPage_ID=337>. Thompson, Kevin J., and Leslie J. Heinberg. ?The Media?s Influence on Body Image Disturbance and Eating Disorders: We?ve Reviled Them, Now Can We Rehabilitate Them?? Journal of Social Issues 55.2 (1999): 339-353. Valois, Robert F., Keith J. Zullig, E. Scott Huebner, and J. Wanzer Drane. ?Dieting Behaviors, Weight Perceptions, and Life Satisfaction Among Public High School Adolescents.? Eating Disorders 11.4 (2003): 271-288.

Astro Monopoly Essay

Watching television has become a basic necessity among the people from all walks of life in today’s affluent society. In globalize era by today, the amount of satellite television provider has increase vigorously in the world. But Astro is still the one and only satellite television provider available in our country, Malaysia. (Wikipedia)The definition of Astro is an acronym for All-Asian Satellite Television and Radio Operator. Astro is Malaysia’s leading integrated cross-media group with operations in 4 key businesses: Pay TV, Radio, Content and Digital. It also transmits digital satellite television and radio to household in Malaysia and Brunei. (Astro)They launched in 1996, and today they have 50% penetration of TV homes in Malaysia, making it a key pay TV operator in Southeast Asia. Astro has also appreciated customer input and feedback and they can continuously strive to provide quality service and products to customers. (Astro)The People’s Choice, Astro was also awarded the â€Å"Brand of the Year† award at Malaysia’s Putra Brand Awards 2012. This award is in recognition of Astro’s efforts to exemplify innovation, quality, and strong corporate social responsibilities. Now Astro has nearly increased in a base of 3.1 million. Therefore, it is fairly obvious that viewer in our country has no chance to choose the other satellite television provider. (Lim)What is the reason that makes Astro able to monopolize Malaysian’s satellite television industry? This is due to the reason that they are the only company that get the permission and license to broadcast by the government of Malaysia. To further illustrate this point, they have the ability to set the price of their service because they are the price maker in the industry. As they are the price maker, sometimes the customers are not satisfied about the high price they set with the limited choice of package to choose from. In some package that subscribers purchased, there are always some channels that they are not interested in but are made to pay for it. (Times)According to the recent article published in ‘New Straits Times’ in 2011 in George Town, The Consumers Association of Penang has questioned the monopoly enjoyed by Astro and wants the government to explain why the pay television operator had been given an exclusive licence for 20 years. (Times)CAP president S.M. Mohamed Idris said the monopoly enjoyed by Astro had snuffed out the chances of other satellite channel operators from entering the market and providing better service to consumers. He said in other countries, viewers had several operators offering programmes at lower rates than Astro. He also said the combination of channels in the family package offered by Astro was too rigid and few channels were likely to be of interest to any particular demography of society. He said the government should encourage new pay-TV operators and allow TV accessories to be sold in the free market like in other countries. Meanwhile, in an immediate response, an Astro public relations department spokesperson said the company would refer CAP’s concern to its management for further deliberation. (Lim) (Astro)Another point that related to Astro’s monopoly is the barriers to entry. It is very hard to stop Astro’s monopoly in the satellite television industry. Many new firms fail to enter the industry as the investment is too high for them. The new firm would need to pay for their own satellite which costly for them. Even if there is a firm that has sufficient capital for their investment, they still failed to enter the industry due to the directive of government. As a conclusion, Astro is still remaining customer’s top choice nowadays. It is because no other satellite television provider can substitute Astro. The people around the country have also accepted Astro as part and parcel in their lives. For my experience with Astro, my family have subscribed to Astro since I am six. Astro brought many advantage that as I can watch many variety of show and it also help to reduce my boredom. But now, we are using Astro B.yond PVR. It is convenient as it is a personal video recorder. We can record the videos that we want to watch while we are away. However, Astro have satisfied customer’s needs and wants to prolong the lifespan of the company. It is very difficult to stop Astro’s monopoly in the satellite television industry as it is the only satellite television in our country and no other firms can substitute it so far.

Medicine and business: a practitioner’s guide Essay

The retail sector is one of the major contributors in the economy of the United Kingdom. The sector constitutes a major percentage of the country’s GDP. Sainsbury’s and Tesco companies are among the major contributors of the country’s GDP in the retail industry (Lewis 1990, p.386). This paper seeks to examine in a detailed analysis the performance, efficiency and ability of the two companies to meet the immediate obligations when due over the last three financial periods. The report shows a comparison of the two companies in 2012, 2013 and 2014. The analysis is based on the use of financial ratios where profitability, liquidity, working capital and investment ratios. Profitability ratios will be used to compare the performance of the two companies, in the light of return on equity (ROE), return on capital employed (ROCE), net profit margin and gross profit margin. The liquidity ratios that will be utilized include; acid test and the current ratio. The ratio will be geared at examining the ease at which the companies effectively convert assets into cash while the working capital ratios will assess the rate at which the current assets such as stock circulate in the companies (Richards 1980, p. 35). Objectives             This paper targets to present a detailed analysis over the performance of the two companies and routine operations; therefore the main objectives of this paper are: To compare the performance of the two companies over the last three years To detail recommendations for both companies on the basis of the ratios computed and their implications to the companies and the economy as a whole. Research methodology             The paper will explore the performances of both companies by utilizing ratio analysis. In order to be in a position to undertake this examination, financial statements of both companies over the last three years will be extracted and ratios computed using the information. The results of this report will be expressed in terms of pounds. Financial extracts Tesco Company Income statement For the years 2014, 2013 & 2012 (pounds) 22/02/2014 23/02/2013 25/02/2012 (Millions) (Millions) (Millions) Revenue: 63,557.00 63,406.00 63,916.00 Operating Profit / (Loss): 2,631.00 2,382.00 4,182.00 Net Interest: (432.00) (397.00) (235.00) PBT: 2,259.00 2,057.00 4,038.00 PAT from continuing operations: 1,912.00 1,528.00 3,164.00 Discontinued Operations: PAT from discontinuing operations: (942.00) (1,504.00) (350.00) Profit for the period: 970.00 24.00 2,814.00 Attributable to: Equity holders of parent company: 974.00 28.00 2,806.00 Minority Interests / Other Equity: (4.00) (4.00) 8.00 Total Dividend Paid: c 14.76 c 14.76 c 14.76 Tesco Company Statement of financial position As at 2014, 2013 & 2012 (pounds) 22/02/2014 23/02/2013 25/02/2012 (Millions) (Millions) (Millions) Assets Non-Current Assets Property, Plant & Equipment: 24,490.00 24,870.00 25,710.00 Intangible Assets: 3,795.00 4,362.00 4,618.00 Investment Properties: 227.00 2,001.00 1,991.00 Investments: 1,301.00 1,312.00 1,949.00 Other Financial Assets: 4,706.00 4,430.00 3,627.00 Other Non-Current Assets: 73.00 58.00 23.00 Current Assets Inventories: 3,576.00 3,744.00 3,598.00 Trade and Other Receivables: 2,190.00 2,525.00 2,657.00 Cash at Bank & In Hand: 2,506.00 2,512.00 2,305.00 Current Asset Investments: 1,016.00 522.00 1,243.00 Other Current Assets: 3,797.00 3,162.00 2,550.00 Other Assets: 2,487.00 631.00 510.00 Total Assets: 50,164.00 50,129.00 50,781.00 Liabilities Current Liabilities Borrowings: 1,910.00 766.00 1,838.00 Other Current Liabilities: 18,296.00 17,937.00 17,342.00 Non-Current Liabilities Borrowings: 9,303.00 10,068.00 9,911.00 Provisions: 777.00 1,278.00 1,260.00 Other Non-Current Liabilities: 3,963.00 3,137.00 2,560.00 Other Liabilities: 1,193.00 282.00 69.00 Total Liabilities: 35,442.00 33,468.00 32,980.00 Net Assets: 14,722.00 16,661.00 17,801.00 Capital & reserves Share Capital: 405.00 403.00 402.00 Share Premium Account: 5,080.00 5,020.00 4,964.00 Other Reserves: (498.00) 685.00 245.00 Retained Earnings: 9,728.00 10,535.00 12,164.00 Shareholders’ Funds: 14,715.00 16,643.00 17,775.00 Minority Interests / Other Equity: 7.00 18.00 26.00 Total Equity: 14,722.00 16,661.00 17,801.00 Retrieved from; Hargreaves Lansdown. ‘Tesco Plc | Financial Statements & Reports’. N.P., 2014. Web. 31 Dec. 2014. Sainsbury’s plc.Income statement For the years ended 2014, 2013 & 2012 15/03/2014 16/03/2013 17/03/2012 (Millions) (Millions) (Millions) Revenue: 23,949.00 23,303.00 22,294.00 Operating Profit / (Loss): 1,009.00 882.00 874.00 Net Interest: (139.00) (134.00) (103.00) PBT: 898.00 772.00 799.00 PAT from continuing operations: 716.00 602.00 598.00 Profit for the period: 716.00 602.00 598.00 Attributable to: Equity holders of parent company: 716.00 602.00 59.00 Total Dividend Paid: c 17.30 c 16.70 c 16.00 Sainsbury’s plc.Statement of financial position As at 2014, 2013 & 2012 15/03/2014 16/03/2013 17/03/2012 (Millions) (Millions) (Millions) Assets Non-Current Assets Property, Plant & Equipment: 9,880.00 9,804.00 9,329.00 Intangible Assets: 286.00 171.00 160.00 Investments: 404.00 532.00 566.00 Other Financial Assets: 283.00 236.00 215.00 Other Non-Current Assets: 1,318.00 38.00 38.00 12,171.00 10,781.00 10,308.00 Current Assets Inventories: 1,005.00 987.00 938.00 Trade and Other Receivables: 433.00 306.00 286.00 Cash at Bank & In Hand: 1,592.00 517.00 739.00 Other Current Assets: 1,332.00 91.00 69.00 Other Assets: 7.00 13.00 N/A Total Assets: 16,540.00 12,695.00 12,340.00 Liabilities Current Liabilities Borrowings: 534.00 165.00 150.00 Other Current Liabilities: 6,231.00 2,950.00 2,986.00 Non-Current Liabilities Borrowings: 2,250.00 2,617.00 2,617.00 Provisions: 256.00 316.00 349.00 Other Non-Current Liabilities: 1,264.00 809.00 609.00 Total Liabilities: 10,535.00 6,857.00 6,711.00 Net Assets: 6,005.00 5,838.00 5,629.00 Capital & reserves Share Capital: 545.00 541.00 538.00 Share Premium Account: 1,091.00 1,075.00 1,061.00 Other Reserves: 807.00 820.00 315.00 Retained Earnings: 3,560.00 3,401.00 3,715.00 Shareholders’ Funds: 6,003.00 5,837.00 5,629.00 Minority Interests / Other Equity:2.00 1.00 N/A Total Equity: 6,005.00 5,838.00 5,629.0 Retrieved from; Hargreaves Lansdown. ‘Sainsbury (J) Plc | Financial Statements & Reports’. N.P., 2014. Web. 31 Dec. 2014. Ratio Analysis Profitability ratios             These ratios indicate company’s profitability status. They determine the capacity of a company to generate returns to compensate the providers of capital. Using the data extracted, return on capital employed, gross profit margin and net profit margin are computed below; Return on equity This ratio is an indicator of the returns that a company generates out of the owners’ equity. Return on equity (ROE) = (Net income/equity capital) * 100 (ALBRECHT 2007, p. 234) Return on capital employed             Return on capital employed is used to indicate how a company is able to generate income to service the providers of capital employed. The ratio can be used to compare profitability of a firm within successive periods to evaluate profitability and predict future failure.The ratio is computed as follows; Return on capital employed = (profit before interest and tax/ capital employed) * 100 (COLES 1997, p. 32) Net profit margin This ratio measures the return per pound of sales a company earns. It is computed through the following formula; Net profit margin = (Net income / sales revenue)* 100 (GITMAN 2008, p. 492) Where, net income is obtained by Lessing total operating expenses from the sales revenue. Gross profit margin This ratio indicates the returns of the company after taking into consideration the costs of production incurred. It is calculated as follows; Gross profit margin = (Gross profit/ sales revenue) * 100(KHAN 2007, p.10) Below is a summary of the ratios; Ratio TESCO SAINSBURY’S 2012 2013 2014 2012 2013 2014 ROE 23.5% 14.3% 17.9% 15.5% 15.1% 16.8% ROCE 12.8% 6.5% 7.5% 8.7% 8.1% 9.2% Net profit margin 6.5% 3.8% 4.1% 3.9% 3.8% 4.2% GP margin 8.4% 6.6% 6.3% 5.4% 5.5% 5.8% Liquidity ratios These are ratios that measure the speed at which a company is able to convert its assets into cash or its equivalents (BUCCI 2014, p.71). They explain how fast a company can turn its current assets into cash so as to meet the current obligations. There are two types of liquidity ratios namely; current ratio and acid test ratio. Current ratio It indicates the ability of the company to convert its assets into cash or cash equivalents. The ratio is computed as follows; Current ratio = current assets/ current liabilities (times) Acid test ratio Acid test ratio also known as quick ratio is a measure that examines the capacity of a company to settle its immediate obligations from own current assets without selling stock. It is computed through the following formula; Acid test ratio = (current assets- inventories)/ current liabilities (TRACY 2011, p.287) The table below is a summary of the ratios computed using the financial data extracted; Ratio TESCO SAINSBURY’ Liquidity ratio 2012 2013 2014 2012 2013 2014 Current ratio 0.64 0.67 0.65 0.65 0.58 0.64 Acid test ratio 0.46 0.47 0.47 0.35 0.26 0.50 Working capital ratios             These are ratios that indicate the efficiency of a company to utilize its assets. They are also referred to as asset management ratios or asset turn over ratios. The commonly used ratios are; receivables turnover, payables turn over and inventory turnover (TALEKAR 2005, p.85). Receivables turnover This is a measure of how fast a company collects its funds from the debtors. It is calculated on the basis of the following formula; Receivables turnover = annual credit sales/accounts receivables It is reported in terms of number of days that sales made on credit remain with debtors before collection. Therefore; Average collection period = (accounts receivables/annual credit sales) * 365 days The ratio can also be expressed as; average collection period = 365 days / Receivables turnover (BOOKER 2006, p. 4). Inventory turnover             This is a ratio of the cost of goods sold to the average inventory. Cost of goods sold comprises of opening stock add purchases less closing stock while average inventory is the mean of opening and closing inventory. It is expressed in terms of days. Inventory turnover= cost of goods sold (COS) / Average inventory Therefore; Inventory period = 365/ inventory turnover Payables turnover This ratio indicates the period that the company takes to pay its creditors. It is defined by; Payables turnover = annual credit purchases/ accounts payables It is also expressed in terms of day. Therefore; Average payment period = 365 days / payables turnover. The table below is a summary of the asset ratios of the two companies; Ratio TESCO SAINSBURY’S 2012 2013 2014 2012 2013 2014 Receivables turnover 15.2 14.5 12.6 4.7 4.8 6.7 Inventory turnover 11.2 11.5 11.0 8.1 8.2 8.1 Payables turnover 10.8 11.0 11.2 5.2 4.9 10.1 Investment ratios These are ratios that help investors to evaluate the returns of their investments. Common investment ratios include; Earnings per share (EPS) Dividend payout ratio Dividend yield ratio Dividend payout ratio This ratio measures the part of earning that a company gives out to shareholders as dividends. It is computed as follows: Dividend payout ratio = (total dividends declared for the year/ earnings available for dividends) * 100 (GEDDES 2002, p. 14). Where; earning available for dividends is the profit after tax and preference dividends. Dividend yield This relates the returns from a share to its market value. It assists investors to assess the returns from their investments. It is worked out as follows: Dividend yield = (dividend per share/ market value per share) * 100 Earnings per share             EPS indicates the proportion of the company’s earnings that are attributable to the ordinary shareholders that have been generated during the period. The earnings attributable to ordinary shareholders are denoted by the profit after tax. EPS = Earnings attributable to ordinary shareholders/ Number of ordinary shareholders. It is an important indicator of company’s performance in terms of the earning power of the shares. However, comparing performance of companies based on EPS is inefficient since some companies may choose to issue more shares. Companies can also choose to increase or decrease the number of issued shares leading to an automatic alteration of the EPS. Ratio TESCO SAINSBURY’S 2012 2013 2014 2012 2013 2014 EPS 38.25 18.04 22.56 32.10 33.00 35.37 39.20 19.05 22.70 30.40 31.22 36.67 40.41 33.67 31.67 26.18 29.45 31.56 Dividend payout ratio 0.5 61.5 1.5 27.1 2.8 2.4 Uses of ratios             Various groups of individuals are interested with the analysis of financials of companies. They use ratios to work out specific financial features of a company that they are interested in. they help individuals in the following ways; To determine profitability: profitability ratios indicate the capacity of companies to generate profits. Ratios help the management to estimate the earning power of the company’s assets. To assess solvency: gearing ratios are used to assess company’s ability to service its debts. They show the relationship between assets and liabilities. A high gearing ratio is an indicator that the company is likely to land into financial problems in the future. They assist in the analysis of financials: Ratios assist stakeholders such as banks, shareholders and creditors to assess the profitability, liquidity and the capacity of companies to pay dividends. Forecasting purposes: financial ratios reflect the trend of the company. Such trends are important for forecasting the future of the company. Past years ratios are used to estimate the future therefore ratios are an important tool of preparing budgets and forecast statements. Limitations of ratio analysis             Despite the overwhelming usefulness of financial ratios, they are characterized by many drawbacks. To begin with, ratios are based on historical data. They are computed using historical financials but not pro forma statement. This poses a great challenge since the financials reflect the past financial position not the current situation. Ratios can thus lead to wrong decision making since what is true now may not be reflected by the past data. Decision making that is based on financial ratios may thus be misleading especially for material items and transactions. Ratios are also computed using financial statements that are normally prepared under accounting principles and policies. Different companies embrace varying policies and principles. The policies also vary with time within the same company. Owing to these variations, it becomes challenging to compare performance of different companies or even the performance of the same company over successive periods. Inflation and seasonal factors also threaten the validity and reliability of ratio analysis. Inflation impacts greatly on the financial statements just like seasonal factors such as economic cycles. Ratios are computed on the basis of historical financial statements which do not take into account the effects of price level changes and seasonal variations. Making decisions on the basis of financial ratios can thus be misleading. Conclusion and recommendation             Over the three years covered by this analysis, it can be seen that Tesco performed better than Sainsbury’s in terms of profitability, working capital ratios and investment ratios. The two companies are however characterized by falling liquidity ratios. To improve this trend, they should liquidate their cash efficiently through the capacity to convert current assets into cash quickly without necessarily selling their inventory. The profitability ratios of Tesco also observed to be declining over the period examined. The company thus should consider ways of improving its profitability such as cutting major costs of production or through increasing sales volume. References Albrecht, w. S., stice, e. K., & stice, j. D. (2007). Financial accounting. Mason, oh, thomson/south-western. Booker, j. (2006). Financial planning fundamentals. Toronto, cch canadian limited. Bucci, r. V. (2014). Medicine and business: a practitioner’s guide. Http://public.eblib.com/choice/publicfullrecord.aspx?p=1697730. Coles, m. (1997). Financial management for higher awards. Oxford, heinemann.Geddes, r. (2002). Valuation and investment appraisal. Canterbury, financial world publ.Gitman, l. J., & mcdaniel, c. D. (2008). The future of business: the essentials. Mason, oh, thomson south-western. Hargreaves lansdown,. ‘Sainsbury (j) plc | financial statements & reports’. N.p., 2014. Web. 31 dec. 2014.Hargreaves lansdown,. ‘Tesco plc | financial statements & reports’. N.p., 2014. Web. 31 dec. 2014.Khan, m. Y., & jain, p. K. (2007). Financial management. New delhi, tata mcgraw-hill. Talekar, s. D. (2005). Management of working capital. New delhi, discovery pub. House.Tracy, j. A. (2011). Accounting for dummies. New york, ny, john wiley & sons. Http://nbn-resolving.de/urn:nbn:de:101:1-201410263287. Source document

Comparing the Peace Brought on by Asoka and Augustus essays

Comparing the Peace Brought on by Asoka and Augustus essays Both Asoka in India and Augusta in Rome brought a period of peace through their rule as emperors. These periods of peace were both implicated after military victory. Asoka, conquered new lands for ancient India, but unlike Augustus saw the horror and destruction his war brought. After seeing what his actions had caused, Asoka converted to Buddhism and instituted a series of religious edicts which were to ensure the peace and prosperity of his nation. Augustus, on the other hand, believed that peace was a natural part of military victory. Unlike Asoka, who saw his military conquests as a corruption of peace, Augustus believed that peace could only be achieved and sustained through military might. Asoka was the son of the famous Bindusara and ruled over India from 269 to 232 B.C.E. The beginning of his reign followed suit with his predecessors. He set out to conquer neighboring kingdoms at the expense of the peace and prosperity of his own people. After ruling violently over India and seeing the destruction his conquests caused, Asoka converted to Buddhism. The conquest of Kalinga changed Asokas bloodthirsty ways. There, he personally witnessed how his warfare was making the common people utterly miserable. Part of his conversion was to ensure peace within his Kingdom in remembrance of the foul deeds he had done which caused so much pain and suffering (Noss 189). He instituted a series of religious edicts, called the Rock and Pillar Edicts, which were Buddhist teachings that he now used as mandates for the rule of the people, To this end I have issued proclamations on Dharma, and I have instituted various kinds of moral and religious instruction, (Rock and Pillar Edic ts 153). Asoka believed that his people should be united, and should practice piety and common law; let them store up merit toward rebirth in a paradise hereafter, (Noss 190). Asoka used his government to implement his new found rel...

Human Suffering essays

Human Suffering essays Human suffering happens every day, everywhere, in many types and ways all around us. We do not always see it, but that does not mean it does not exist. When we do see it exist we commonly ask ourselves, "Does human suffering have meaning?" I can answer this question easily. Yes, it does have meaning. I can answer this because of the four readings we read. However, as I examine this question deeper I see that the four readings have different ideas on "meaning" or the reason for suffering. Looking at the definition of the verb (to) suffer, "feel or undergo pain; sustain damage or loss," we see that suffering is something that can happen because of more than one action. Each of the readings explained a different way of suffering. In their basics, some described mental suffering and others described physical suffering. But, more deeply than that each reading contains a certain kind of suffering. The Epic of Gilgamesh describes that suffering is caused by death. The Book of Job des! cribes how suffering is caused by sickness, loss of possessions, or loved ones. Buddhist explains suffering caused by our mental anguish. Night describes suffering caused by others. These readings give us meaning to suffering so that in the future we can avoid suffering, and if we can not avoid it we can at least explain it. The Epic of Gilgamesh tells us that suffering happens because of love. Gilgamesh suffered only because he loved Enkidu. After Enkidu was killed by the serpent Gilgamesh suffered tremendously. This was an example mental suffering. Gilgamesh did not bring on Enkidu's death. It was his desire for Enkidu to die. It just happened fighting the serpent. He deeply mourned his brother's death. This drove him to find that special root to make him immortal. Although this was just a story, in its day it was thought to be a book of teachings. Suffering was a direct result of death and love, but it was suffering that drove Gilgamesh ...