Sunday, January 26, 2020

Analysis of Financial Proposal

Analysis of Financial Proposal (1) analyse financial data; evaluate the results and formulate conclusions (2) prepare a budget and explain how it would be negotiated and monitored. (3) produce a financial proposal and present a sound business case to secure the  required financial resources. The figures can be fictitious. Part 1) Technique used: Ratio Analysis Refer to the Appendix Profitability Ratios These ratios help us to judge how good the firm’s profit performance is. The two key ratios to show profitability are: Return on Capital Employed This measures the level of profit of the business compared to the amount of capital that has been invested in it. It is effectively the return the business has made, and investors will want this to be higher than the rate of interest they could have got elsewhere. The budget is showing a healthy 68% return on capital which includes proposed bank borrowings. Profit Margin This measures the level of profit compared to the turnover, it therefore shows the percentage profit on the sales. It can be measured as either a gross or net profit margin. The Gross Profit margin is 66.5% but the Net Profit margin is only 11.3% due to high wages and purchases costs. These could be reduced by bulk buying and negotiating special terms. Liquidity Ratios These are ratios that measure the liquidity of the business. Business has to ensure that they are able to meet their commitments as when they fall due by converting sufficient assets into cash. A business should avoid a situation where a lot of cash or capital is tied up in high levels of stock. Current asset and Acid Test ratio shows that the business has more than enough assets to cover its liabilities and it is very liquid as the stock and debtors can be turned into cash quickly. Current Ratios This ratio compares the current assets and current liabilities. Clearly a business needs to have more current assets than liabilities, and so at a minimum the figure should be more than 1. Here it is 1.54 which is slightly higher and thus ensures sufficient liquidity. Acid Test Ratios This ratio takes a closer look at the business’s liquidity. One of the current assets is stock, and this clearly not always easy to turn into cash. In fact the firm may have high stock levels because they can’t sell all of it. So the acid test ratio takes the current assets and subtracts the stock. This is a test of immediate solvency. If the value of this ratio is much less than 1 the business may have a liquidity problem, as it may have insufficient assets to meet all its liabilities. Debtors and Creditors Payment period The debtors payment period shows how many days it takes on average for the debtors to pay back the owed money. The creditor payment period shows how many days it takes on average for the business to pay its creditors. Ideally the debtor period should be shorter than the creditor period for better efficiency. Here this is not the case and steps should be taken to chase the debtors to pay quickly. Gearing Ratio This concerns the business’ long-term financial stability. It measures how much of the business is financed by debt. The higher the gearing percentage, the less secure it will be. Normal figure is 50%. Part 2) It is imperative that for any business to trade effectively and be able to grow, it needs to build up enough cash reserves. Therefore it is important to ensure cash movements, that is the timing of cash inflow and cash outflow, are managed in such a way that it results in an overall positive cashflow position. The budget would be negotiated on the basis of forecasted sales revenue, expected expenditure and any planned capital expenditure. The Bank manager needs to be pursuaded that the cash forecast is realistic and not over optimistic. The budget would be monitored and reviewed on a regular basis and any material changes would be acted on. The negotiations would be based upon the fact such as reliability of the customer and suppliers, location of the pub. Also the fact that being a public house, the business is all year round and not seasonal and there are going to be peak seasons such as Christmas and other public holdiays. In addition, the pub would increase its takings by having special events and offers. The budget should build a contingency fund for worst case scenario such as cost over-runs or loss of loyalty of its customers. It needs to show clearly that the owner has invested his/her money as a capital in the business and prepared to risk it, and has a strong track record in this field and that the business plan is credible. A bank always demands a copy of current management accounts with a cash flow forecast in order to assess a business’s liquidity and then decides whether to grant the overdraft facility or not. Therefore, they are of utmost importance when negotiating a loan from a bank. Cash budget gives an advance warning of any liquidity problems. It is often a lack of cash that causes most businesses to fail. It will give you an opportunity to decide when and how to increase or decrease your overdraft with the bank. Part 3) The total amount required is  £50,000 but the business does not need to draw down all of the money at once. It should be stressed to the bank manager that you have number of years’ experience in the same business and you know the trade well. Also you have good interpersonal skills and the ability to get on with all types of people This is important for running a successful pub. You also have to stress that you have done your home work, prepared a business plan and have ideas to boost the business by holding special events throughout the year. You need to do some research about the market for a pub in that area. If there are only one or two pubs in the local area and nothing within, say 15 mile radius, then an additional pub in that area is going to stand a very good chance of success. Appendix The following table shows the ratios for the year 2005: Ratio Profitability ROCE68% Gross Profit Margin66.5% Net Profit 11.3% Direct Wages20% Debtor payment days28 days Current Ratio1.54:1 Acid Test1.1:1 Gearing52% Bibliography 1. www.qck.com/business-loans.html 2. Cox, 0 and Farndon, M (1997) Management of Finance (2nd Edition) Worcester: Osborne Books. 3. Dyson, J (1998) Accounting for Non-Accounting Students London: Pitman 4. Http://www/bized.ac.uk Learning resources contain summary notes on main topics. 5. Management and Cost Accounting, 4th Edition, by Colin Drury, Thomson Business Press. 6. Active Accounting by Brammer, Cox, Fardon, Penning. Osborne books.

Friday, January 17, 2020

A Geography of Time

In the preface â€Å"Time Talks, With an Accent† the author describes his reasons of writing the book, as well as he shares his plans about future careers, his interest, and ideas about time geography.In the first chapter â€Å"Tempo: Speed of Life† special attention is paid to what tempo is, its core elements, economic well-being and what may happen beyond the tempo. In the second chapter â€Å"Duration: Psychological Clock† the author provides innovative and interesting suggestions and draws relevant conclusions bumps in time, how to change the life tempo and psychological experiences of time duration.Actually, I think that material presented in the preface and the first chapters are very exciting and informative as the author sets further background for research in this sphere.In the preface the author writes that every culture is represented by its own concepts and fingertips about time and time geography. Actually, it is necessary to lean about time values a s it gives an excellent opportunity to know the person better. Time gives idea of what person is, about his ideals and beliefs. The author admits that he has always been interested in time. As other Americans, the writer was taught that time is measured by the clock and nothing more.Time is seconds, minutes and hours. However, when the author grew up he realized that the concept of time is not as simple as it might seem at the first glance. When planning personal career, the author claims he has ignored the concept of money being offered by the particular job. Instead, he decided to learn temporal lifestyle as that area interested him the most.Firstly the author’s researches focused primarily on social psychology and attribution theory. Special attention was paid to gender differences in ideas about success and failure, self-confidence and attribution styles. Nevertheless, in several years the author became very interested in studying the value of time and the life pace in ge neral. Therefore, the author devotes the whole book to the pace of own lives, how people use and have to use time, what time is doing in our cities, etc.The first chapter addresses the question of time tempo stressing that tempo of life strongly depends on the factors of personal taste and skills, as well as on individual instruments and room involved. The pace of time is defined by the author as tome flow or movement being experienced by people.Pace of time is characterized by rhythms, sequences and synchronies. However, life pace is a matter of tempo. ‘Tempo’ is borrowed from music theory and it is associated with rate and speed of piece performance.The author is interested in characteristics of cultures and places distinguishing five factors which determine cultural tempos: economic well-being, degree of industrialization, population amount, climatic conditions, and orientation at individualism. Also, there are ‘fast’ and ‘slow’ people and t he author warns us not to overgeneralize about them.Actually, life pace depends on time, place and human doings. Ten areas are presented to think of yourself: speech patterns, concern with clock time, walking speed, eating habits, driving, schedules, list making, nervous energy, waiting and alerts.The second chapter addresses the issues of psychological clock and duration of time. The author writes that there were several studies devoted to time perceptions and the interest in estimation of time appeared on the scale.Duration is defined as the time that is going from the lat event. Actually, duration is the speed of the clock being ambiguous and precise. However, it is more difficult to define duration of time in the realm of psychological experience.There are differences in time duration among Westerners and Easterners. For example, in Western culture listening is not opposition of talking as it is waiting.Modern researchers are focus on identifying differences in types of informat ion and in the ways the information is processed. Interestingly, Maslow defined creative people as people being fascinated and absorbed in the current situation and here-now. The author concludes that time is proceeding as a clock arrow does. However, speed of time passing depends fully on individual preferences. A Geography of Time In a world with no clocks and no definite appointments people are living by event time. Therefore, the fourth chapter â€Å"Living on Time Events† is devoted to analyzing what it means to live beyond time or by time event. It is known that earlier time was measured by slow sweep of stars in the sky or by important events or changes.Heartbeats also measured time, as well as recurrence of hunger and duration of loneliness. The author assumes that in certain situations the clock or calendar can be defined as nothing more than simply ornament or decoration. Living by event can’t provide define appointments of lifestyle, whereas modern industrialized countries are motivated by punctuality.Historical perspective suggests that living by clock â€Å"is clearly out of line with virtually all of recorded history†. (p.82) The author asserts that the key difference in pace life is that people tend to use clock as the guidance in their lives, especially when they are planning the beginning and the end of particular events.People’s schedules aren’t allowed to include spontaneous activities. Therefore, there are two types of living: living by event time and living by clock time. The key difference between these types is speed difference and people who live by clock tie are faster than those who live by event time.The author specifies that under clock time timepiece is that director of the beginning and end of the events and particular activities. Under event time it is schedule that determines particular activities. Nevertheless, event time isn’t precise time as it is difficult to identify when people will be busy with necessary activities. Interestingly, adults are more susceptible to clock time.Industrial society is characterized by enmeshed style of life and clock time is the main driver of events and activities. However, in less civilized countries people are less concerned with control of clock. They feel life by mechanic clock i s abnormal and confusing as it set rigid frameworks and it is hardly possible to life full life when you are obliged to follow set schedule.The fifth chapter â€Å"Time and Power: The Rules of the Waiting Games† provides relevant and valuable rules about waiting peculiarities. The author says that waiting is always unpleasant thing.For example, when we are waiting for a bus or a person, we feel anxiety and even irritability. However, half of our life is simply waiting – waiting for tickets, appointments, particular events, buses, etc. Psychologists find it rather difficult to evaluate the pain from waiting, but they say that effect maybe both negative and positive. For business waiting is very expensive as time for them is directly associated with money.When people become more important, the demand for time becomes greater. With increased importance value of time increases as well as time is limited. Therefore, time of important people should be protected and carefully managed.The author stresses that â€Å"important people are usually seen by appointment only; and while those of higher status are allowed to make people below them to wait, the reverse is strictly prohibited†. (p. 109) Thus, one of the most important rules is that status dictates who will wait and it is position in the hierarchy that determines people’s importance. Further, the longer people are waiting the greater the status is. For example, the value of attorneys and bookkeepers is defined by the fact whether they are booked in advance.One of the rules suggests that time can be provided as a real gift meaning that waiting can be seen as an act of generosity. Offering is thus viewed as â€Å"a special instance of using time to demonstrate respect†. (p.123) Offering of time is important because it stretches far beyond explanations of gain or profit. The sole purpose of offering time is sending social message. Finally, breaking into line should be rare occasion s.Those people who break into line must re-assure that they don’t cause any troubles for others who are waiting. Rules of waiting are different in different countries and it is not recommended to play waiting games till you know all the rules. Mainly, waiting rules implicit and the chance to misinterpret the message are very high.

Thursday, January 9, 2020

What Is Selfless Service Or Servant Leadership - 1066 Words

Group Consensus In reviewing the various topics studied in the textbook Resilient Leadership by Maj. Gen. Robert Dees, in conjunction with Satterlee’s textbook Organizational Management Leadership, the group was in accord choosing the underlined topics/concepts, which are: selfless service or servant leadership, vision, wisdom, integrity and empowering others. Group Four felt that these topics / concepts are important for organization’s leaders, since they will most definitely improve the character traits of leaders, allowing them to unify and motivate workers to create organizational wealth, and success - based on employees’ job satisfaction and high productivity. The group’s first unanimously chosen topic/concept, selfless service or servant leadership, is important to organizational leaders because of the positive influence this character trait has on employee motivation and job satisfaction within organizations (De Clerq, Bouckenooghe, Raja, Matsyb orskam, 2014; Blanchette, 2015) â€Å"Servant leaders provide strong empowerment to their followers, allowing [followers] to experience high levels of ... [job satisfaction]... [The study also] demonstrated that a follower-friendly leadership style [was] an important source of employee work motivation† (De Clerq, Gouchkenooghe, Raja, Matsyborska, 2014 p. 189, 206). â€Å"Maj. Gen. Dees’ definition of selfless service is related to Organizational Management and Leadership, since selfless service is aShow MoreRelatedLeadership Analysis : Resilient Leaders By Robert Dees1120 Words   |  5 PagesLeadership and Selflessness In the book Resilient Leaders, Robert Dees (2013) very clearly points out that leadership is a contact sport in which tribulation can and will occur. In order to successfully navigate inevitable challenges, a certain amount of resiliency must be present, both in the leader as well as in those who are being led. He also discusses selfless service. 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Wednesday, January 1, 2020

Impact of Religion on America Essay - 935 Words

Aaron Brown English Composition 101 What is the impact of religion on American government and society? There are many factors that have an impact on the American government and society. One main factor is religion. Religion, defined by Webster’s Dictionary, is a set of beliefs concerning the cause, nature, and purpose of the universe, especially when considered as the creation of a superhuman agency or agencies, usually involving devotional and ritual observances, and often containing a moral code governing the conduct of human affairs. The predominant religion of the United States is Christianity, and the minorities include Islam, Buddhism, Judaism, and Atheism. The United States has a long history of being known as†¦show more content†¦Before the Supreme Court decision of Roe v. Wade (1973) , abortion was illegal in the United States. I think that abortion are one of your personal rights and shouldn’t be a part of government interests. Christians believe that you should never kill a baby while it is its mothers womb, but what about the women who got raped and don’t want the baby. The only arguments that the government is that they are trying to protect the rights of the unborn fetuses that cant make decisions by themselves. The people that make the choice for pro abortion have been killed, some abortion clinics have been attacked, and some women have had socil strife because of the conflicting choice against Christian values. Abortions are heavily protested by Christian activist even though multiple amendments protect them including the 4th, 9th, 11th, and 14th. Gay marriage is one of the most controversial topics being discussed in America today. Today in America, Christians feel like that because the bible states that homosexuality is a sin and then it should be illegal. A few states have taken the first step and started to accept the marriage of same sex marriage. 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