Comparing Financial Ratio Analysis Between Two Companies Finance Essay

Comparing Financial Ratio Analysis Between Two Companies Finance Essay A financial report or the financial statement is known as an official record of the financial activities of a person, a business, or any other entity. In the British English also including the United Kingdom company rule; a financial statement is frequently mentioned as an account, even though the word financial statement is also mostly used, mostly by the accountants. In a business enterprise, all the related financial evidence, presented in a structured method and in a form that is really easy to copy and understand by others, are called the financial declarations. They normally contain four basic financial declarations, escorted by a management analysis and discussion. Statement of cash flows: reports that shows the cash flow activities of a company, normally its operation, financing and investing activities. Balance sheet: this is also referred as the statement of financial condition or position, reports that show the companys  assets, ownership equity, and the  liabilities at a given period of time. Statement of retained earnings: this explains the changes in the retained earnings of a company over its reporting period. Income statement: this is referred to as a Loss and Profit statement, income reports of a company, profits, and expenses over a certain period of time. Loss and Profit account is provided with information on the process of the enterprise. These include the various expenses and the sale that acquired during the dispensation state. For the large organizations, these statements are often difficult and may include a wide-ranging set of notes to the financial statements and analysis and management discussion. The notes are usually describing each item on the cash flow statement, balance sheet, and income statement in more detail. All notes to financial declarations are considered an integral part of the financial declarations. Two companies are compared and contrasted. This will show the difference of everything between both these companies. It shows the different income ane different profits earned by these companies. It also shows that even different companies have many things that do not come in common. FORMULA TIME ENGINEERING BERHAD WONG ENGINEERING CORPORATION BERHAD Liquidity Ratios Networking Capital= Current Assets Current Liabilities = 358618 113715 = 244903 = 51929026 1517900 = 50411126 Current Ratio= _Current Assets__ Current Liabilities 358618 / 113715 = 3.15 = 51929026 / 1517900 = 34.21 Quick Ratio = Current Assets (Inventory+Prepaid Expense) Current Liabilities = 358618 ( 72 + 35220 ) 113715 = 358618 ( 35292 ) 113715 = ( 323326 ) 113715 = 2.843 = 51929026 ( 19423010 + 175601 ) 1517900 = 51929026 ( 21179021 ) 1517900 = 3721752.23 Assets Utilization Ratios Accounts Receivable Turnover ( Net Credit Sales + Average Accounts Receivable) = 256536 . [ 64657 + (24970 / 2) ] = 256536 . ( 64657 + 12485 ) = 256536 77124 = 3.32 N / A Average Collection Period = Accounts Receivable Daily Credit Sales = 24970 . ( 68643 / 365 ) = 24970 118.06 = 132.7 = 133 days = 1777208 . ( 11995710 / 365 ) = 1777208 32864.96 = 54.08 = 54 days Inventory Turnover Ratio = Cost of Goods Sold Average Inventory = 64651 . ( 40964 / 2 ) = 64651 20482 = 3.16 = 63297596 . ( 19423010 / 2 ) = 63297596 9711505 = 6.52 Fixed Assets Turnover = Net Sales . Total Fixed Assets = 999132 2248486 = 0.444 = 2370124 . 147201386 = 0.016 Leverage Ratio Debt Ratio = Net Sales . Total Assets = 999132 2248486 = 0.444 = 0.444 x 100 = 44.4 % = 2370124 . 147201386 = 0.016 = 0.016 x 100 = 1.6 % Equity Ratio = Total Liabilities . Stockholders Equity = 1249165 959625 =1.301 = 15446858 129147162 = 0.120 Times Interest Earned Ratio = Earnings Before interest and Tax Interest Expense = 106497 7218 = 17.53 = 18 times N / A Profitability Ratios Gross Profit Margin = Gross Profit Net Sales = 200887 999132 = 0.201 = 0.201 x 100 = 20.1 % = 6900285 2370124 = 2.911 = 2.911 x 100 = 291.1 % Return on Total Assets = Net Income . Average Total Assets = 68643 . ( 2248486 / 2 ) = 68643 1124243 = 0.061 = 70197881 . ( 147201386 / 2 ) = 7019881 73600693 = 0.095 Return Common Equity = Earning Available to Commons Stockholders Average Stockholder Equity = 39696 959626 = 0.041 N /A Market Value Ratios Earnings per Share = Net Income-Preferred Dividends . Total Common Shares Outstanding = 24970 56490 = 0.442 N /A Dividend Yield = Dividend per Share Market Price per Share N / A N / A Conclusion Those are the following latest reports of financial reports of two different companies. As what we can see above is that WONG ENGINEERING CORPORATION BERHAD (WECB) has better network and better income compared to TIME ENGINEERING BERHAD (TEB). But both companies are from the same industries. Both of these companies are in the engineering field. They both sell products regarding engineering. By comparing these companies we can clearly see which company is much more successful and which is not. As you can see that the amounts of WONG ENGINEERING CORPORATION BERHAD is very high compared to TIME ENGINEERING BERHAD, but (WECB) has no income at all. They suffer from loss. Even though (TEB) has low income they do have some profit at the end of the day. This makes it clear that amount is not enough to make a company successful; a company needs skills to do so. Therefore the companies are compared and contrasted.

Analysis of Mood in Porphyria’s Lover

Erin Brewton Rosemary Royston ENGL 2601 21 October 2012 Mood in Porphyria’s Lover Robert Browning uses powerful moments of personification and imagery that linger in a reader’s mind. However, the one craft that truly stands out is the mood of the poem. Browning uses specific word choice, imagery, and tone to shape the mood into what can best be described as haunting. Given the topic of the piece, the reaction to find the piece haunting only seems natural. But Browning uses some very interesting ways to make a reader slightly uncomfortable even before awareness is raised about the disturbing murder to follow.He also uses punctuation in the last few lines to capture the long-going uneasiness and blooming insanity of the work. After the first line of the poem, Browning begins to use personification, telling us â€Å"The sullen wind was soon awake, / It tore the elm-tops down for spite, / And did its worst to vex the lake:† (Browning 2-4). The words chosen for person ifying the wind have clear negative connotations. Browning tells us that the wind is tearing down the tree tops just â€Å"for spite†, which acknowledges that the wind has a specific intent to hurt the trees.The lake is also being purposefully agitated by the wind. The aggressive nature of the wind is foreshadowing the strangling of Porphyria and certainly setting an unsettling mood from the very first lines of the poem. Porphyria enters the house and â€Å"from her form / Withdrew the dripping cloak and shawl, / And laid her soiled gloves by, untied / Her hat and let the damp hair fall† (Browning 10-13). The key words in these lines are â€Å"dripping† and â€Å"soiled†. Both of these words are purposefully used to represent Porphyria. The term soiled implies that she is in fact unfaithful. Dripping† could be taken in a couple of ways. Metaphorically, she could be dripping with dirtiness from sleeping with another man/other men. Literally, her cloa k and shawl are dripping, but this could also refer to specific bodily functions women encounter during intercourse. These very subtle word choices play an important role in setting the attitude towards Porphyria. The narrator has already stated that he was listening â€Å"with heart fit to break†, which suggests even before Porphyria walks in dripping with soiled gloves that she has done something terrible (Browning 5).The mood at this point is an uneasiness caused from the aggressive wind and relational tension between the narrator and his beloved. Porphyria calls for the narrator and he does not respond. Porphyria’s reaction to his unresponsiveness is racy for the 1800s: She put my arm about her waist, And made her smooth white shoulder bare, And all her yellow hair displaced, And, stooping, made my cheek lie there, And spread, o'er all, her yellow hair, Murmuring how she loved me — (Browning 16-21). The imagery here is what sets the mood; her â€Å"smooth w hite shoulder bare† and â€Å"yellow hair† falling against his cheek.The reader is given opportunity to imagine her voice murmuring into his ear. Through this strong imagery, the mood moves switches from aggressive to strictly discomforting, specifically due to the use of the word â€Å"murmuring†. In most contexts, murmuring is used when a large crowd is speaking all at once or there is some other type of soft constant noise. With that in mind, it can be noted that if Porphyria’s statements of love are simply background noise, the narrator must be listening intently to his own mind. This is the point in which the narrators’ negative mental state begins to reveal itself.The mood remains uncomfortable but added to that is a sense of suspense. After the narrator explains that Porphyria has good intent in loving him, but that she struggles with the surplus of passion within her, he â€Å"looked up at her eyes / Happy and proud; at last I knew / Porphy ria worshiped me† (Browning 31-33). The fact that he believes Porphyria worships him would suggest some form of narcissistic disorder on the part of the narrator. After the narrator has allowed readers into this part of his mind, there is no question that he is not mentally stable.Readers may be slightly more uneasy, almost to the point of anxiousness, being inside the mind of an unstable man. However, the narrator’s tone is very matter of fact, which subdues the mood to a tolerable ache of emotional discomfort. The narrator states â€Å"That moment she was mine, mine, fair, / Perfectly pure and good† (Browning 36-37), and after such realization, he decides that in order to preserve this moment, he needs to take action. He gathers â€Å"all her hair / In one long yellow string I wound / Three times her little throat around, / And strangled her† (Browning 38-41).In this specific moment, imagery is not to thank for setting the mood. It is Browning’s t one that acknowledges the lack of emotion whilst a man is strangling his lover. The narrator voices no anger, nor bestows Porphyria with any compliments of beauty or character during the actual event of her strangling. After she is dead, the narrator voices no remorse, and even tells himself â€Å"No pain felt she; / I am quite sure she felt no pain. / As a shut bud that holds a bee† (Browning 41-43). The narrators streaming thoughts of insanity continue when he â€Å"warily oped her lids: again / Laughed the blue eyes without a stain. And I untightened next the tress / About her neck† (Browning 44-47). Porphyria’s dead eyes are still alive to him, but now they are pure (without a stain). The mood is set by the unusually calm tone paired with such a tragic and horrific event. Some readers may choose to feel the calm expressed by the tone, or some may choose to feel the disgust and anxiety expressed by the text. One of the most interesting ways that Browning crea tes a mood of insanity is in his use of exclamation points.The narrator speaks of Porphyria’s â€Å"smiling rosy little head† resting upon his shoulder, and claims it is â€Å"glad it has its utmost will, / That all it scorned at once is fled† (Browning 52-54). In the next line, Browning includes his usage of punctuation by writing â€Å"And I, its love, am gained instead! † (Browning 55). The narrator is genuinely ecstatic that Porphyria can have him, instead of struggling with trying to deny herself her passionate pleasures. To him, he is the greatest prize, which reinforces the idea that the narrator is narcissistic.Through this realization in a reader’s mind, the mood of insanity is cemented, since the monotonous and unexcited tone used by Browning changes into a tone that is content and happy despite the narrator’s horrible crime. The last three lines of this work read: â€Å"And thus we sit together now, / And all night long we have n ot stirred, / And yet God has not said a word! † (Browning 58-60). Imagery and punctuation are key in these lines. The reader is previously drawn a clear picture of Porphyria, blushing red with her unstained eyes and wet, damp, yellow hair, resting on the narrators’ shoulder.The mood gathered from â€Å"all night long we have not stirred† in this context is simply an extension of the illogical kind of insanity that has already formed. The narrator is, according to the exclamation point, in awe that God has not spoken up about his indecent actions. The building sentiment of insanity has reached its peak in this last punctuation mark. As a poet, Browning understands that by putting an audience in the mind of a sociopathic narrator, he is making the audience complicit to the crime.To this end, Browning uses several tools to create a mood of uneasiness, discomfort, and insanity from its early stages of introduction to its grand finale. The mood of uneasiness is essen tial to capture the mental state of the narrator. Further, Browning uses the lack of conscience in his narrator to heighten the discomfort of his audience. Imagery, personification, word choice, and punctuation all greatly assist in pushing the audience to feel a certain way throughout the work. Works Cited Browning, Robert. Porphyria’s Lover.

Reducing Symptoms in Bulimia Nervosa and Binge Eating...

Reducing Symptoms in Bulimia Nervosa and Binge Eating Disorder Through Drug Treatment Bulimia nervosa is a chronic psychiatric disorder that haunts the lives of many young women. The disorder is characterized by frequent episodes of binge eating followed by some sort of purging. The purging usually involves self-induced vomiting and can cause great damage to the body. Persons diagnosed with bulimia nervosa have a loss of control over these behaviors. Affecting the lives of 3-5% of young women, bulimia is a problem that is spinning out of control and nothing seems to be able to stop it. Binge eating disorder is another psychiatric disease that causes problems for many people. In this disorder, persons binge frequently but do not†¦show more content†¦Vagal afferent nerve endings have serotonin-3 and serotonin-4 receptors whose activation have been known to cause nausea and vomiting. Serotonin therefore may affect vagal function at both central and peripheral sites of action(Rissanen et. al. 1998). In several studies, the serotonin uptake inhibitor fluoxotine ha s reduced the binge eating symptoms of bulimia. Fluoxetine is also used in the treatment of depression but a higher dosage is needed for effective treatment of bulimia. Thus, we can conclude that fluoxetine works differently on patients who suffer from bulimia and on patients who suffer from depression. One study done with fluoxetine tested its effects on vagal function in 41 volunteer healthy women and 25 women with bulimia nervosa. The study attempted to evaluate cardiac vagal tone in women with bulimia compared to healthy women at baseline. After an eight week treatment with fluoxetine or placebo, the vagal tone, along with the severity of symptoms was reevaluated within and between the groups. A nurse therapist measured the severity of the symptoms (binge eating, purging) throughout the study, and a research psychiatrist evaluated them at 0 and 8 weeks using a semi-structured interview. The severity of the symptoms was also self-rated by the patients upon entry and completion of the study.Show MoreRelated Binge Eating in Bulimia Nervosa Essay2854 Words   |  12 Pagesseveral different types of eating dysfunction, all of which are unique and tragic in their own right. Despite their individuality, however, they all have several overlapping symptoms that are key to their classification and severity. For Bulimia Nervosa (BN) and Binge Eating Disorder (BED), one of the core features is binge eating, which can be defined objectively by number of calories eaten in a given time or subjectively by the feelings of the binger. Binge eating has many different aspectsRead MoreThe Importance Of Treatment For Bulimia Nervosa2263 Words   |  10 Pagesthe significance of treatment f or Bulimia Nervosa as well as which way of treatment is best for Bulimia. The purpose of this research is to analyze the best treatments for Bulimia Nervosa. More emphasis on the question, is Bulimia Nervosa best treated with Cognitive Behavioral Therapy or with antidepressants such as Adapin or Prozac? Furthermore, in the paper the results will indicate the efficacy of treatment of which method of treatment is best for Bulimia. Bulimia Nervosa is characterized byRead More Cognitive-Behavioral Therapy For Bulimia Nervosa Essay2928 Words   |  12 PagesCognitive-Behavioral Therapy For Bulimia Nervosa INTRODUCTION Bulimia nervosa is an eating disorder characterized by binge eating as well as by self-induced vomiting and/or laxative abuse (Mitchell, 1986). Episodes of overeating typically alternate with attempts to diet, although the eating habits of bulimics and their methods of weight control vary (Fairburn et al., 1986). The majority of bulimics have a body weight within the normal range for their height, build, and age, and yet possessRead More The Physiology and Psychology of Bulimia Essay2743 Words   |  11 PagesThe Physiology and Psychology of Bulimia Bulimia is a disorder centered around an individual’s obsession with food and weight. This obsession involves eating large quantities of food, feeling guilty about the food consumption, and taking drastic measures to prevent caloric/fat absorption. Measures vary with each individual and include one or all of the following: forced vomiting, abuse of laxatives or diuretics, or excessive exercise. This disease affects one to three percent of adolescent andRead MoreEating Disorders and Free Essays8687 Words   |  35 Pagesï » ¿2 = 2 dfhnmxpd h Free Essays Home | Search Essays | FAQ | Guarantees | Privacy | Lost Essay? | Contact Search Results eating disorder Free Essays Unrated Essays Better Essays Stronger Essays Powerful Essays Term Papers Research Papers Search by keyword: Sort By: Your search returned over 400 essays for eating disorder. To narrow your search results, please add more search terms to your query. [1] [2] [3] [4] [5] [Next ] These results are sorted by most relevantRead MoreAnorexia Is A Disease That Affects The Mind And The Body1320 Words   |  6 Pagesto anorexia nervosa, one being food restriction and the second occurs when there is binging and purging. It is possibly for the individual to have both types. Anorexia is commonly associated with personality disorders, as well as having medical complications related to the disease. 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The six food groups of nutrients include: carbohydrates, fats, proteins, vitamins, minerals and water. Good nutrition consists of a good well balanced diet combined with regular physical activity. Poor nutrition can lead to reduced immunity, makeRead MoreObservation Of Various Life Stages5410 Words   |  22 Pagesof a child, to become an adult body, creating a new concept of identity. Wong, Hall, Justice , and Wong Hernandez (2015), state that Erik Erikson affirmed that during adolescence, the main task of every individual is to achieve a state of identity through working out the crisis of â€Å"identity versus role confusion.† He affirmed that many issues take place during the adolescence age years, more specifically in the person’s identity development. Erikson considered these issues a crisis, since adolescents

Critical Thinking And Education Is A Huge Part Of Our Lives

The way that we live our lives is immensely affected by the way we take into consideration our education. Education is a huge part of our lives, especially today. There are some points in which I disagree with Miller, but I believe I agree with also. I also feel as though we have to take into account critical thinking in everything we do. On the other hand, we can take it too seriously. Critical thinking and education not only play a huge role in combating the chaos of our current culture, it affects it greatly. We, as students, need to take our education into account to better ourselves in the future. Miller states, For some it will hardly come as a surprise to learn that reading and writing have no magically transformative power.†¦show more content†¦Usually you spend it thinking about something else and chiming in when you hear something that only slightly pertains to you. Critical thinking in our culture today makes us put ourselves in the others shoes; we could put ourselves into a story or into a real life situation. Society tells us to take everyone s feelings into consideration and have an open mind. A common thing is everyone listen to what the other is saying. If you think about it that’s exactly what critical thinking is. We have to think about how we would be influenced if we were put into certain circumstances and how we would react. That being said, critical thinking plays a completely different role in society. There have been so many instances in which a student has brought a weapon to school and most of the time they don’t care at all about how it would affect someone else. Critical thinking to them is just another thing they learned in class. In my opinion, if a student wants to do some harm they will not take a second look at the people around them. They put themselves in that situation, it seems, impulsively. The chaos in this situation is unaffected by critical thinking. Mostly the reason people do these things is because of the person themselves. Yes, the way society thinks and the way we are taught to think in school are completely different. We are so focused on making sure everyone is happy on the outside that no one pays attention when a kid becomes unhinged. There are so many

Thank You So Much For Such A Wonderful Semester - 924 Words

Thank you so much for such a wonderful semester. I truly enjoyed your class and all of the energy and passion you brought to our lecture. You have inspired me in so many ways. I was a member of Group 16 with Esther and Abigail and had so much fun getting to know everyone. I made several friends and hope that I will remain in contact with everyone as my time at Texas AM University continues. However, my main reason for writing this is to thank you for allowing me to get to know myself through the reflections that I wrote for your class. At the beginning of the semester I walked into Mays Business school without a purpose. I knew that I had wanted some type of administrative position in my future and business sounded like the perfect way to reach that goal. I am pretty good in math so I decided that I was going to get my degree in accounting, get my masters, and eventually become a CPA. I had everything planned out. As the semester began I thought I had everything lined out and perfect . When I came to your class and was told we would have to attend night speakers and write reflections I did not understand why. It was a mystery to me as to what good a reflection over a random speaker, whom I did not know, would do for me. However, as the semester went on, I continued writing all of these reflections and began to notice a pattern in my reflections. My love for others and desire to make a difference in the lives of others was evident. When I began to notice this reappearingShow MoreRelatedMy Experience With A Internship Experience913 Words   |  4 Pagesof anyone other than Mrs. Doss. She has so many wonderful teaching abilities and has ashared so many wonderful experiences with me that I am sure anyone would be thankful for. I am grateful for each and every opportunity that has been given to me during this experience. 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Specific Investment Decisions Free Essays

SPECIFIC INVESTMENT DECISIONS Q1. If a company leases rather than buy an asset, which of the following will not be a benefit to the purchaser? (MCQ)Avoiding Tax exhaustionExploiting a low cost of capital Attract lease customers Potential future scrap(2 marks) Q2. Willow Co has already decided to accept a project and is now considering how to finance the project. We will write a custom essay sample on Specific Investment Decisions or any similar topic only for you Order Now The asset could be leased over three years at a rental of $23,000 per annum, payable at the start of each year. Tax is payable at 25%, one year in arrears. The post-tax cost of borrowing is 8%. Calculate the net present value of the leasing option. (FIB)Years Cash flows ($)0 – 2 Rentals (23,000)2 – 4 Tax relief 5,75041084542545000NOTE: Negative answer should be shown with a negative sign (-)$(2 marks) Q3. Select the correct Lease option based on the statements given. (HA)It is a rental agreement OPERATING FINANCEMaintenance Servicing cost of Lessee OPERATING FINANCEAgreement for the useful life of the asset OPERATING FINANCEIncluded in the balance sheet of the Lessor OPERATING FINANCE(2 marks) Q4. Tango Co. needs to decide about an asset that will be used in a project. The company has an option to either Buy the asset or Lease it. If Tango Co. opts for Buy option the following information is given: The asset is bought using a bank loan for $400,000 for a time period of three years. The scrap value of the asset is $30,000 annual maintenance cost will be $12,000 per annum. Calculate the present value for year two using a cost of borrowing of 5% (ignoring taxation)? (MCQ)$30,000$(11,424)$(10,884)$15,552(2 marks) Q5. What are the relevant cash flows for Buy option? (MRQ)Investment and Disposal proceedsRepair Maintenance costTax allowable depreciationTax saving on Servicing cost(2 marks) Q6. Beamer Co. wants to replace a Dyeing machine on 31st December 2017. The machine is expected to cost $360,000 if purchased immediately, payable on 31st December 2017. After four years company expects technological changes in the market making this machine redundant and leaving a scrap value of $20,000 on 31st December 2021. Capital allowance on 25% reducing balance basis. A full year allowance is given for acquisition but no writing down allowance in the year of disposal. If the maintenance cost is $15,000 per year payable at each year end tax rate is 30%.What will be the Balancing Charge/Allowance? (MCQ)$28,172 Balancing Charge$27,000 Balancing Allowance$11,391 Balancing Charge$28,172 Balancing Allowance(2 marks) Q7. Putin Co has decided to invest in a new machine which has a ten-year life and no disposal proceeds. The machine can either be purchased now for $55,000, or it can be leased for ten years with lease rental payments of $10,000 per annum payable at the end of each year. The cost of capital to be applied is 11% and taxation should be ignored. What should be done? (MCQ)Purchase the machineLease the machineSale or LeasebackDo nothing(2 marks) Q8. A machine is leased using operating lease the annual lease rental for six years will be $67,000 payable at each year-end. The first rental will be payable at the start of year one. Calculate net present value using a cost of capital of 13%? (FIB) 3816353683000$(2 marks) Q9. A machine is leased using finance lease the annual lease rental for three years will be $95,000 payable at each year-end. The first rental will be payable at end of year zero in advance. The maintenance cost is $10,000 per annum for three years. Calculate net cash flow for year two using tax save rate of 30% recording in the year cash flow arises? (MCQ)$(66,500)$(73,500)$(7,000)$28,500(2 marks) Q10. â€Å"Assets with unequal lives cannot be compared to a comparison will not be like with like†. Which of the following option relates to the above statement? (MCQ)Equivalent annual costProfitability indexAsset Replacement decisionProbability analysis (2 marks) Q11. Project A with an NPV of $4m with six-year duration. Project B with an NPV of $5m with seven-year duration. Project C with NPV of $6m with a three-year duration. Cost of capital is 12%. Which of the following will be ranked second? (MCQ)Project AProject BProject CNone of the above(2 marks) Q12. The net present value of the costs of operating a machine for the next three years is $10,437 at a cost of capital of 16%. What is the equivalent annual cost of operating the machine? (FIB)4114806477000$ (2 marks) Q13. KD Co. is deciding to replace cargo planes every year or every two years. The initial cost of the plane is $200,000. The maintenance charges are as follows: First year it’s Nil ; $25,000 at the end of the second year. The second-hand value would fall from $110,000 to $90,000 if it held on the plane for two years instead of a one year. KD Co. cost of capital is 4%. How often should KD Co. replace their cargo planes % what will be the equivalent annual cost of the option they choose? (MCQ)Replace every 1 year $(94,180)Replace every 1 year $(97,900)Replace every 2 years $(139,875)Replace every 2 years $(48,450)(2 marks) Q14. Which of the following statements is/are a limitation for Asset Replacement Decision? (MRQ)Replacement made every time is better than the previous assetAssets replaced have same cash inflows every yearAssumed that Machines replaced have different operational efficiencies than the previous assetIt ignores environmental damage(2 marks) Q15. Capital Rationing is the restriction on organizations ability to invest in all projects due to insufficient funds. Select the relevant statements whether they are true or false. (HA)Hard Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE FALSESoft Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE FALSEProfitability index is a solution applicable to divisible projects only TRUE FALSETrial ; Error method is the solution applicable to divisible projects only TRUE FALSE(2 marks) Q16. Riddle Co. is appraising three investment projects but is experiencing a capital rationing in Year 0. No capital rationing is expected in future, but all the projects are important for the company and cannot be delayed ; a decision needs to be taken. Riddle Co. cost of capital is 6%. Which order should the projects to be ranked? The following information is available: (MCQ)Project The outlay in year 0 ($) Present Value ($) Net Present Value ($)Jeremy 115,000 121,900 12,190James 43,000 45,580 13,674Richard 75,000 79,500 47,700Jeremy, Richard, JamesJames, Jeremy, RichardRichard, James, JeremyJeremy, James, Richard (2 marks) Q17. What is an indivisible project?It is the ratio of the NPV of a project to its investment costIt is the project that must be undertaken completely or not at allIt is the project that must be undertaken completely or partiallyIt is the project restriction due to insufficient funds(2 marks)The following information relates to Q18 ; Q19.Schneider Co. is facing a capital constraint of $150m immediately available for investment. The investments in possible projects are: Project Initial Cost ($m) NPV ($m)W 30 7X 70 12Y 60 12Z 40 16 Q18. If the projects are divisible, what is the NPV generated from the optimum investment programme? (FIB)35115524765 00 $ Million(2 marks) Q19. If the projects are indivisible, what is the NPV generated from the optimum investment programme? (MCQ)$19m$24m$28m$35m(2 marks) Q20. Place the calculation steps of Profitability index in the correct order. (P;D)Monitor the investment made in the project 1Calculate profitability index of each project 2Allocate the funds 3Rank the project 4(2 marks)SPECIFIC INVESTMENT DECISIONS (ANSWERS) Q1. AAvoiding tax exhaustion is a benefit for lessee rather than the purchaser. Tax exhaustion is when a business has negative taxable income so cannot benefit from tax saving.Exploiting a low cost of capital is a benefit for the purchaserAttracting lease customers is a benefit to a lessorPotential future scrap is a benefit for the purchaser as the lessee is not entitled to future scrap proceeds Q2. $-50,289Years Cash flows ($) Discount Factor (8%) Present value ($)0 – 2 Rentals (23,000) 1 + 1.783 (64,009)2 – 4 Tax relief 5,750 3.312 – 0.926 13,720NPV (50,289) Q3. CIt is a rental agreement OPERATING Maintenance ; Servicing cost of Lessee FINANCEAgreement for the useful life of the asset FINANCEIncluded in the balance sheet of the Lessor OPERATING Q4. Year 0 1 2 3Investment / Scrap value (400,000) 30,000Maintenance (12,000) (12,000) (12,000)Net Cash flow (400,000) (12,000) (12,000) 18,000DF 5% 1 0.952 0.907 0.864Present value (400,000) (11,424) (10,884) 15,552 Q5. All cash flows are relevant for Buy option Q6. DYear 2017 2018 2019 2020 2021 2022Investment / Scrap value (360,000) 20,000 Tax save 27,000 20.250 15,188 11,391 28,172Workings:2017 (360,000 Ãâ€" 25%) = 90,000 Ãâ€" 30% = 27,0002018 (90,000 Ãâ€" 0.75) = 67,500 Ãâ€" 30% = 20,2502019 (67,500 Ãâ€" 0.75) = 50,625 Ãâ€" 30% = 15,1882020 (50,625 Ãâ€" 0.75) = 37,969 Ãâ€" 30% = 11,391Balancing Allowance (113,906 – 20,000) = $ 28,172 Q7. APresent value of leasing costs PV = Annuity factor at 11% for 10 years Ãâ€" $10,000 = 5.889 Ãâ€" $10,000 = $58,890 If the machine was purchased now, it would cost $55,000. The purchase is therefore the least-cost financing option, hence choosing the purchase option. Q8. $ – 267,866$67,000 Ãâ€" 3.998 (annuity factor for 6 years) = $ – 267,866 Q9. BYear 0 1 2 3Lease rentals (95,000) (95,000) (95,000) Maintenance (10,000) (10,000) (10,000)Tax save 30% (LR) 28,500 28,500 28,500 (M) 3,000 3,000 3,000Net cash flow (66,500) (73,500) (73,500) (7000) Q10. CEquivalent annual cost is method of converting asset lives to be like with likeProfitability index is the method to overcome capital rationingAsset Replacement decision is correctProbability analysis is method under risk ; uncertainty Q11. BProject A = $4 à · 4.111 (AF 6 years) = $0.973mProject B = $5 à · 4.564 (AF 7 years) = $1.096mProject C = $6 à · 2.402 (AF 3 years) = $2.498m Q12. $4,647EAC = $10,437 à · 2.246 (AF 3 years) = $4,647 Q13. DYear 1 Year Cash flow ($) DF (4%) PV ($)0 (200,000) 1 (200,000)1 110,000 0.962 105,820NPV (94,180)EAC = 94,180 à · 0.962 = 97,900Year 2 Year Cash flow ($) DF (4%) PV ($)0 (200,000) 1 (200,000)1 – 0.962 -2 (25,000) + 90,000 0.925 60,125NPV (139,875)EAC = 139,875 à · 2.887 = 48,450 Q14. Assets replaced have same cash inflows every year ; it ignores environmental damageReplacement made every time is like with likeAssets replaced have same cash inflows every year (limitation)Assumed that Machines replaced have same operational efficiencies like the previous assetIt ignores environmental damage, It ignores non-financial aspects (limitation) Q15.Hard Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE Soft Capital Rationing is the limit on the amount of finance available imposed by the lending institutions FALSE Profitability index is a solution applicable to divisible projects only TRUE Trial ; Error method is the solution applicable to divisible projects onlyFALSESoft Capital Rationing is the limit on the amount of finance available imposed by the company itself.Trial ; Error method is the solution applicable to indivisible projects only Q16. D. Jeremy, James, RichardProject The outlay in year 0 ($) Present Value($) Net Present Value ($) Profitability IndexJeremy 115,000 121,900 12,190 0.1James 43,000 45,580 13,674 0.3Richard 75,000 79,500 47,700 0.6Jeremy = (12,190 à · 121,900) = 0.1James = (13,674 à · 45,580) = 0.3Richard = (47,700 à · 79,500) = 0.6 Q17. BIt is the ratio of the NPV of a project to its investment cost (Profitability index)It is the project that must be undertaken completely or not at all (Indivisible project)It is the project that must be undertaken completely or partially (Divisible project) It is the project restriction due to insufficient funds (Capital rationing) Q18. $38.4mProject Profitability Index Ranking Investment ($) NPV ($)W ( 7 à · 30) = 0.23 2 30 Ãâ€"0.23 7X ( 12 à · 70) = 0.17 4 20 Ãâ€" 0.17 3.4Y ( 12 à · 60) = 0.2 3 60 Ãâ€" 0.2 12Z ( 16 à · 40) = 0.4 1 40 Ãâ€" 0.4 16Total 150 38.4 Q19. DCombination:W + X Cost $100m NPV $19mW + Y + Z Cost $130m NPV $35mX + Y Cost $130m NPV $24mX + Z Cost $110m NPV $28mY + Z Cost $100m NPV $28m Q20. Monitor the investment made in the project 4Calculate profitability index of each project 1Allocate the funds 3Rank the project 2 How to cite Specific Investment Decisions, Papers

Evolution And Religion Essay Example For Students

Evolution And Religion Essay Charles Darwins introduction of evolution, created the battle betweenevolution and religion. Still, to this day, the influence of Darwinism haspeople asking themselves where they came from. God, a higher spirit, or theprocess of evolution, are the two main choices to pick from. For many years, Godwas the predominant answer, but after the ideas of Darwin, scientists have takenthe task to trace humans back to the beginning of existence and try to give ascientific explanation. Obviously, since no one really knows for certain whathappened that resulted in the creation of man, it can only be determined on apersonal basis; through religious beliefs and educated guesses. Its quiteclear that without the influence of Darwinism, there would be no controversy. However, there doesnt have to be a controversy. The creation of man should bethought of as a combination of God and evolution. Before the thoughts of Darwin,most people concluded that their must have been a higher creator who had placedthem on earth. So, for many years, they worshiped God tenaciously, and to thisday some people still do. To change such an idea that has existed for so manyyears is hard to accomplish. Therefore, Darwins theory was consideredoutrageous. According to Steve Jones, in his book, Darwins Ghost, in 1991 ahundred million Americans believed that during the last ten thousand years, manwas created by God the way he is now. Man wasnt created from a previousspecie ( 1). Its most likely that there was a higher spirit that created theexistence of life. It explains how the world began. If you sit and think aboutit enough, its frightening to consider that there could, possibly, never havebeen anything at all; just an empty space of nothing, with no living mammals,insec ts, trees, grass, or clouds. However, the fact that humans, along with theother million types of living mammals, insects, and so forth, were created byGod is very unlikely. More likely, after a higher spirit created the beginninglife form, a single cell organism, after many years, this organism progressedinto what is now, considered the highest life form alive. In Darwins book,Origin of Species, he states that: Nothing at first can appear more difficult tobelieve than that the more complex organs and instincts should have beenperfected not by means superior to, though analogous with, human reason, but bythe accumulation of innumerable slight variations, each good for the individualpossessor. Nevertheless, this difficulty, though appearing to our imaginationinsuperably great, cannot be considered real if we admit the followingpropositions, namely, that the gradations in the perfection of any organ orinstinct, which we may consider, either do now exist or could have exists, eachgood of its kind, -that all organs and instincts are, in ever so slight a degree, variable, -and lastly, that there is a struggle for existence leading to thepreservation of each profitable deviation of structure or instinct. The truth ofthese propositions cannot, I think, be disputed. (Jones 331) Darwin never statesthat there was not a a superior being, but stares that organs and instincts werenot perfected by God. While a higher being began life, scientific actions tookplace to get where we are today. In the book of Science and Technology, itstates that, In Darwins Theory had a weakness, in that it didnt explainhow and why small variations in individuals eventually created a new species. Hebelieved it had to do with reproduction and heredity, but it wasnt until the1930s that geneticists explained how; through Modern Synthesis (1192 ). .u5dbae94108a5b4c46ce753c128af6e03 , .u5dbae94108a5b4c46ce753c128af6e03 .postImageUrl , .u5dbae94108a5b4c46ce753c128af6e03 .centered-text-area { min-height: 80px; position: relative; } .u5dbae94108a5b4c46ce753c128af6e03 , .u5dbae94108a5b4c46ce753c128af6e03:hover , .u5dbae94108a5b4c46ce753c128af6e03:visited , .u5dbae94108a5b4c46ce753c128af6e03:active { border:0!important; } .u5dbae94108a5b4c46ce753c128af6e03 .clearfix:after { content: ""; display: table; clear: both; } .u5dbae94108a5b4c46ce753c128af6e03 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5dbae94108a5b4c46ce753c128af6e03:active , .u5dbae94108a5b4c46ce753c128af6e03:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5dbae94108a5b4c46ce753c128af6e03 .centered-text-area { width: 100%; position: relative ; } .u5dbae94108a5b4c46ce753c128af6e03 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5dbae94108a5b4c46ce753c128af6e03 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5dbae94108a5b4c46ce753c128af6e03 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5dbae94108a5b4c46ce753c128af6e03:hover .ctaButton { background-color: #34495E!important; } .u5dbae94108a5b4c46ce753c128af6e03 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5dbae94108a5b4c46ce753c128af6e03 .u5dbae94108a5b4c46ce753c128af6e03-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5dbae94108a5b4c46ce753c128af6e03:after { content: ""; display: block; clear: both; } READ: Death of a sales man wil EssayWith that bit of information, its even more logical that Evolution and Godcoexist. Its also logical that Darwin not only influenced the Science world,but he also influenced Religion. BibliographyEvolution. Science and Technology Illustrated. 1st ed. 1984. Jones,Steve. Darwins Ghost. New York: Random House, 1999