Business Ownership Of Sainsbury s And Oxfam - 2892 Words

â€Å"BUSINESSES ON OUR DOORSTERP† Written by Sadia Raihana Mridha Introduction The purpose of this assignment is to understand the range of different businesses and their ownership. I chose Sainsbury’s and Oxfam as they are businesses with different characteristics from each other, as I needed to choose one big company (such as PLC (public limited company) or LTD (private limited company)) and a small business (such as partnership, sole trader, non-for-profit business). In fact, Sainsbury’s is a supermarket and Oxfam a charity. This assignment will cover the purpose and ownership of the two businesses, the stakeholders of each business and how they affect the business. Task 1A: Business ownership and purpose ïÆ'  Sainsbury’s: Sainsbury was†¦show more content†¦Sainsbury’s have 157,000 employees and the amount of money that they profits per year is  £25,632 million as 23 million customers come per week which demonstrates that it is a profit maker. The total sale of Sainsbury’s was +4.3% (including VAT, excluding fuel) in 2013, whereas the â€Å"like-to-like† sale was +1.8% (including VAT, excluding fuel) in 2013. The scale There are five different scales: local, regional, national, international and global. The local scale is when a business is found in the local area, for example Annie’s Salon. Regional scale is when a business is found in a specific region such as England. National scale is when the business is found in a national scale, e.g. in the UK (Tesco). International scale in when that specific brand is found in more than a country within a specific continent, for example Pupa which is found just in Italy and France. Global scale is similar to the international scale; however, the main difference is that in the global scale, the business is found in more than one continent, i.e. McDonalds. Sainsbury is in a local, regional and national scale as it can be found in the local area, it is in England, but because it is found also in other regions, it is national. However, it cannot be international as Sainsbury’s is located just in UK. The sector There are three different sectors: primary, secondary and tertiary. Primary sector is from where the products are beingShow MoreRelatedBusiness National P1, M1, D1 Essay2978 Words   |  12 Pagesï » ¿Business Environment Business environment is all about the combination of internal and external factors that may influence a business’ ways of operating such as: clients, suppliers, its competitors... stakeholders decide to start a business for many reasons: to pursue an interest or a hobby, mainly: to be their own boss. In other terms, people think that being your own boss, mainly as a sole trader gives you many opportunities although there are drawbacks as well. 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Introducing Strategy The Environment Strategic Capabilities Strategic Purpose Culture and Strategy Business Strategy Corporate Strategy and Diversification International Strategy Innovation and Entrepreneurship Mergers, Acquisitions and Alliances Evaluating Strategies Strategy Development Processes Organising for Success Leadership and Strategic ChangeRead MoreStrategic Marketing Management337596 Words   |  1351 PagesOur thanks go to Janice Nunn for all the effort that she put in to the preparation of the manuscript. Strategic Marketing Management Planning, implementation and control Third edition Richard M.S. Wilson Emeritus Professor of Business Administration The Business School Loughborough University and Colin Gilligan Professor of Marketing Sheffield Hallam University and Visiting Professor, Northumbria University AMSTERDAM †¢ BOSTON †¢ HEIDELBERG †¢ LONDON †¢ NEW YORK †¢ OXFORD PARIS †¢ SAN DIEGO

Democracy to Dictatorship in Lord of the Flies Essay

Democracy to Dictatorship in Lord of the Flies Lord of the Flies by William Golding is a novel that represents a microcosm of society in a tale about children stranded on an island. Of the group of young boys there are two who want to lead for the duration of their stay, Jack and Ralph. Through the opposing characters of Jack and Ralph, Golding reveals the gradual process from democracy to dictatorship from Ralphs democratic election to his lack of law enforcement to Jacks strict rule and his violent law enforcement. Upon the arrival of the boys to the island Jack immediately found himself in the center of a power struggle. Although the conflict was brief, there was still a very obvious confrontation between†¦show more content†¦Their punishment for slacking off was nothing, and so they got away with accomplishing nothing. Jack saw this along with many other flaws in Ralphs democracy and continually tried to force his style of governing over the boys. Jacks view on how the group should be run didnt completely show through until he actually became the leader later on in the novel, but there were hints before that as well. His tendency towards strict leadership was evident ever since he and his choirboys were introduced as characters. He kept them very much in line. The group of cloaked boys began to scatter from close line. The tall boy shouted at them. Choir stand still! Wearily obedient, the choir huddled into line and stood there swaying in the sun (Golding page #). He allowed them little room to maneuver, made them listen and follow orders without question. Jack was a very power hungry young boy. Although he doesnt have any power at the beginning of the novel, he took every opportunity to take the position of chief and was eventually successful. Jacks dictatorial style of leadership contrasted very directly with the more democratic and passive style of Ralph. Jack ruled with an iron fist, allowing no one to question him or his leadership. Jack represented the wanting for a single, all-powerful leader to guide the followers of society using any means he feels necessary.Show MoreRelatedLord Of The Flies By William Golding1540 Words   |  7 Pagesfreedoms it granted its citizens; while the Soviet Union’s ruthless dictatorship greatly limited the liberties of its people. This era created lasting views of the concept of â€Å"good versus evil†. British author William Golding wrote his novel, Lord of the Flies, during this time and it reflects this uneasy atmosphere. The character development, along with the carefully chosen symbolism of the novel suggests that Golding wrote Lord of the Flies as an allegory to the people and events of the Cold War, butRead MoreWilliam Goldings View of Humanity1383 Words   |  6 Pagesboys and cynical view of the war. 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In the book, it is a symbolRead MoreSignificance of the Conch in Lord of the Flies860 Words   |  4 Pagesconch he called it. He used to blow it and his mum would come. It s ever so valuable Ââ€" Piggy, Lord of the Flies. The conch is a sea creature, its shell is revered in many cultures such as Hinduism and Buddhism for its beauty and the sound it makes. The conch is also that shell in Lord of the Flies which is blown into to gather the boys. The author, William Golding, uses the conch to show that democracy will succumb to rule by force in the face of serious trouble or need. In the book, it is a symbolRead MoreRalph and Jack in Lord Of The Flies Essay919 Words   |  4 PagesWilliam Goldings Lord of the Flies is a novel about a grou p of boys who are lost on a deserted island and must do what they can to survive. At the beginning of the novel, two of the boys, Ralph and Jack, become leaders. These differences will form the main conflict in the story. 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In the novel ‘Lord of the Flies’ by William Golding and ‘The Tempest’ by William Shakespeare, power is a main theme throughout both texts. Both represent microcosm of outer society at the time the text was written. In Lord of the Flies it was a time when the world’s dominant countries were struggling for power over Germany which was known as the Cold war. The capitalist American’s wanted democracy where as the communist Russians

Ratio Balance Sheet and Financial Results Free Essays

UVA-C-2332 Rev. Oct. 17, 2012 RATIOS TELL A STORY—2011 Financial results and conditions vary among companies for a number of reasons. We will write a custom essay sample on Ratio: Balance Sheet and Financial Results or any similar topic only for you Order Now One reason for the variation can be traced to the characteristics of the industries in which companies operate. For example, some industries require large investments in property, plant, and equipment (PPE), while others require very little. In some industries, the competitive productpricing structure permits companies to earn significant profits per sales dollar, while in other industries the product-pricing structure imposes a much lower profit margin. In most low-margin industries, however, companies often experience a relatively high rate of product throughput. A second reason for some of the variation in financial results and conditions among companies is the result of management philosophy and policy. Some companies reduce their manufacturing capacity to match more closely their immediate sales prospects, while others carry excess capacity to be prepared for future sales growth. Also, some companies finance their assets with borrowed funds, while others avoid that leverage and choose instead to finance their assets with owners’ equity. And some corporate management teams choose to not pay dividends to their owners, preferring to reinvest those funds in the company. Of course, another reason for some of the variation in reported financial results among companies is the differing competencies of management. Given the same industry characteristics and the same management policies, different companies may report different financial results simply because their managements perform differently. And last, one other reason is that some industries are more susceptible to macroeconomic conditions than others. This can be true when macroeconomic conditions (e. g. , foreign exchange rates, interest rates, and taxes) are weak and deteriorating as well as when they are strong and improving. Or this can also be true when such conditions are stable versus volatile. Those differences in industry characteristics, in company policies, in management performance, and in responsiveness to the macroeconomic environment are reflected in the financial statements published by publicly held companies. Furthermore, they can be highlighted through the use of financial ratios. Exhibit 1 presents balance sheets, in percentage form, and This case was prepared by Professor Mark E. Haskins, Darden Graduate School of Business Administration, and has benefited from collaborations with various colleagues over the years on earlier versions. It was written as a basis for discussion rather than to illustrate effective or ineffective handling of an administrative situation. Copyright ? 2012 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved. To order copies, send an e-mail to sales@dardenbusinesspublishing. com. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School Foundation. ? -2- UVA-C-2332 selected financial ratios computed from fiscal year 2011 balance sheets and income statements for 13 companies from the following industries: ? ? ? ? ? ? ? ? ? ? ? ? ? irline railroad pharmaceuticals commercial banking photographic equipment, printing, and sales discount general-merchandise retail electric utility fast-food restaurant chain wholesale food distribution supermarket (grocery) chain Internet retailing advertising agency services computer software development Study the balance sheet profiles and the financial ratios listed for each of the 13 companies as presented in Exhibit 1. 1 Your assignment is to use your intu ition, common sense, and basic understanding of the unique attributes of each industry listed above to match each column in the exhibit with one of the industries. Be prepared to give the reasons for your pairings, citing the data that seems to be consistent with the characteristics of the industry you selected. Ours is not a perfect world, however, and for our class discussion, it will be helpful if you will also identify those pieces of data that seem to contradict the pairings you have made. Please note that using the data available here, you will find it difficult to identify those companies whose financial results differ because of management policy and competence. Please note in Exhibit 1: OCI = Other Comprehensive Income, CFFO = Cash Flow From Operations, ST = Short Term, and LT = Long Term. 1 -3The ratios in Exhibit 1 are based on the following formulas: 1. ROS (return on sales) = Net income Net sales Net sales Average total assets Net income Average total assets ROS ? Asset turnover Average total assets Average total owners’ equity Net income Average total owners’ equity ROA ? Financial leverage Total current assets Total current liabilities Cost of goods sold Average ending inventory Average accounts receivable Net sales/365 days UVA-C-2332 . Asset turnover = 3. ROA (return on assets) or = = 4. Financial leverage = 5. ROE (return on equity) or = = 6. Current ratio = 7. Inventory turnover = 8. Receivables collection = 9. Revenue growth = This year’s net sales—Last year’s net sales Last year’s net sales Net sales—Cost of goods sold Net sales Cash dividends Net income Research and development e xpense Net sales 10. Gross margin = 11. Dividend payout 12. RD ratio = = -4Exhibit 1 RATIOS TE ELL A STORY Y—2011 Selected Financ Data for 13 C S cial Companies (b balance sheet amou are percentage of total assets) unts UVA-C-2332 V How to cite Ratio: Balance Sheet and Financial Results, Papers

Management Financial Accounting Assignment â€Myassignmenthelp.Com

Question: Discuss About The Management Financial Accounting Assignment? Answer: Introduction Liquidation of the company implies shuting down of the operations of the company and closing the books of the accounts and selling of the assets to meet the liabilities proportionately in the order of sequence to be seen and managed by the iquidator of the company. Some of the reasons are that the company may not be able to pay its short term and long term debts on time, it may find that the excessive expenditure is required in continuing the business, the debtors have not paid the money dues or the company is not having adequare resources to cover the cost or because of the harsh competition(Knechel Salterio, 2016). In line with the above mentioned reasons, the director or partner of the company may choose to liquidate the firm or the company based on the following reasons like if the company is not being able to meet its debt and continuously incurring into the debts, then the company may propose for voluntary liquidation. In some case directors or partners personal assets would also be liable for the liqiuidation purposes in cases where they hold unlimited liability. (Raiborn, et al., 2016). Liquidation is also termed as winding up of the company and is often the official closure of the companys existence. The official liquidator is appointed by the creditors or shareholders of the company and represents the creditorss interests. There can be many other reasons besides the above mentioned reasons basis which the company may go into liquidation like unorganised upkeep of the business, weak internal control by the management, inadequacy of working capital of the company, the location or the business might not be right, impertinent and uncompetitive management, lack of planning to develop the correct business model, direct competition in the market adversely, etc(Fay Negangard, 2017). The case of liquidation with ABC learning, One Tel Phone company and HIH Insurance ABC learning was one of the pioneer companies in Australia providing education services to the children. It was also being listed in the Australian Stock Exchange and its market capitalization at that time was around AUD 2.5 billion in 2006. The company went into liquidation on account of failing to repay the subprime mortgage loan and thus overwhelming the company. The auditors had to hold the signing of the audit report of the company for that year citing the need to recast and reinstate the reported profits of the previous year. Amidst all this, it went into liquidation in the year 2008 and was bought back by Goodyear Early Learning in December 2009 which now operated in 650 centress across Asutralia(Sonu, et al., 2017). The backdrop behind all this is the major acquisition and child care support which the company started to give in he early 2000s and the major increase in the number of centres as compared to its major competitors who had barely 100 centres across the world. Will all these acquisitions, they not only capitalised and improved the markets share in the UK but also captured 1% of the markets in the US as well. It grew rapiding and aggressively negotiating to deal with Australias largest employers like Department of Defence. It was highly profitable in 2004 -05 and 2005-06 giving the net profits percentage of 17% and 18% respectively on the sales revenue of $292.7 Milliion and $219.8 Million. In all this process, it kept on increasing its debt triggering a decline in the share prices by 42% in 2007. Despite all this, it fell into receivership on account of increase in the debt servicing obligations due to which the auditor could not sign the financial statements. Even though the then fede ral government injected funds in the company, but it was still delisted from SP and Australian Stock exchange on account of creditors voluntary winding up in this case. The collapse of the ABC learning was mainly due to the lack of corporate governance in the company just 9 months prior to its liquidation. In the backdrop, there was no control whatsoever on the purchases being done by the group on account of the acquisitions(Jones, 2017). This was just a rubber and stamo exercise as mentioned by the chief lawyer of the ABC company. The court also mentioned that the major reason behind all this was the differences in valuation of the major acquisitions being done to the tune of multi million dollars. It grew amazing and big to have 2300 child care centres all over the company implying the market concerns on the reporting and proper disclosure of these acquisitions. It was one of the major internal control failures on account of the company leading to weak corporate governance. It has no investment review committee as is required to see the major acquisitions and sale in the course of the business. It just had an odd management group approval which we re doing nothing except the redundant rubber stanmp exercise. One of the reports also showed up that an independent valuation of one of the acquired companies 123 careers came to roughly at around $ 30 Mn but it was bought for a huge amount of $ 70 Mn which was evident of the overvaluation. In this way, there were a number of acquisitions which was being made by the ABC learning without proper due deligence and proper valuation of the business to be acquired. One tel Phone company was one of the major telecommunication giants in Australia having over 2 Million customers across 8 nations. This again was the victim of the weak internal control and non competiting management which gave wrong forecasting to the shareholders and the market in terms of the revenue and the profits for the future years. It earned huge profits during the past 4 years ranging from 40% to 1275 as basis this the revenue estimate was expected to be increased by around 10 times in 2010 but the same could not happen inspite of the huge growth by the company. This was because the company had invested huge amounts in the spectrum licenses which als included public funding of $ 340 Mn. Moreover, inspite of the cash crunch, the company kept on paying its director Rich Keeling hefty amounts as salary and bonus in 2000. This had a major impact on the company resulting into losses of $ 291 Mn and soon thereafter share prices fell miserably to $1. All this followed the company to close its opeartions and sell the assets to pay off its debts. Also, huge number of employees were laid off. This was an example where the internal control system, the ethics and governance of the company was challenged terribly and the information was not validated before flowing to the market. Not only the sales, but the receivables, the accruals, the estimated profit figures based on which the investments were made were all misstated. This called a early indication from the auditors of the company but the auditors also kept quiet, reflecting low audit quality. The 3rd company in the list is HIH insurance company which was the 2nd largest insurance company in Australia at that time and got liquidated in 2001 with an imposing figure of loss measuring $ 5.3 billion. This is still known to be the worst ever corpoarate collapse in the history of Australia. All the dues and debts in HIH company is majorly attributable to the incorrect and overstated pricing of the mergers and acquisitions done by the company in early 2000s. It took over FAI insurance company and many others and accounted them at a very aggressive intent of accounting. Inspite of suffering the losses and cash crunch, the company continued to pay a huge amount as compete fee or severance fee to its CEO just before the close of the company. It was found that liabilities and reserves were unstated in acquisition accounting like in CE Health International and wrong figures were quoted to the stakeholders in terms of the net assets and liabilities held by the company without correct d isclosures. It was not only non compliant with the corporate governance laws but also the ethics of the business and thus went into serious losses in 2001, as a result of which the company had to liquidate. Conclusion We see that the company went into liquidation owning to a lot of factors. There were several reasons that had led to this and the management of the company was to be held liable for the same. The books of accounts of the company wree not audited properly which shows that how important it is for the auditor to take a valid stand. The liquidation could have been prevented had the management taken a proper stand in this matter. If the management of the company did not influence the opinion of the auditor, and showed huge revenues in its financial statements which were actually from loss making units, the company would have been saved. When the new auditor took over, they saw that their opinion regarding the financials of the company were entirely different from those of the previous auditors. This led to internal probe into the matter and when the auditors asked the management of the company to rectify the mistakes, the management refused to do the same. This attitude of the management eventually led to the liquidation of the company and that had also put a big question mark on other companies in this sector(Grenier, 2017). The overall scale of profitability of the liquidated company was much more than its peers, this raised aquestion on the validation of the accounts. There were a lot of assumptions that the company had done that showed that the books were not maintained ethically. The one lesson that can be learnt form the downfall of the company is that we should try to maintain ethical practices as much as possible and should never go for falsification of the records. If the company in any way frauds, it is the responsibility of the auditor to look into the matter and comment on the same. The audit opinion must be unbiased and should not be influenced by the company or its peers. In the given case, the previous auditor pitcher plant worked as per the suggestions of the management and that had affected the overall audit report which was proved to be tampered and showed a wrong impression about the company accounts(Bae, 2017). Recomendations There are various ways by which the companies acn avoid getting liquidated. Going concern is one of the most important accounting assumption and it is important that the companies follow the same. There are several laws stated that governs the liquidation policies of the companie around the world. These liquidation policies helps provide a basis and several procedures that will help the companies in the liquidation process and will also protect the interest of the stakeholders who are dependant on the company. They are the biggest affected party because of the entire downfall, they had invested in the company in the pursuit of getting good returns and than if the company liquidates they face huge losses. So it is important that all the laws must be followed, liquidators must be appointed nad all the investors who ahd invested in the company should get their basic dues in return of the same. Thus this analsysis of the ABC learning company helps us in developing a stand over the matter of liquidation. It provides a list of things that the management should not do in order to avoid the same. This helps in the global evaluation and development of the companies and also there has been changes in the liquidation laws that has made the overall process less complicated(DeZoort Harrison, 2016). Refrences Bae, S., 2017. The Association Between Corporate Tax Avoidance And Audit Efforts: Evidence From Korea. Journal of Applied Business Research, 33(1), pp. 153-172. DeZoort, F. Harrison, P., 2016. Understanding Auditors sense of Responsibility for detecting fraud within organization. Journal of Business Ethics, pp. 1-18. Fay, R. Negangard, E., 2017. Manual journal entry testing : Data analytics and the risk of fraud. Journal of Accounting Education, Volume 38, pp. 37-49. Grenier, J., 2017. Encouraging Professional Skepticism in the Industry Specialization Era. Journal of Business Ethics, 142(2), pp. 241-256. Jones, P., 2017. Statistical Sampling and Risk Analysis in Auditing. NY: Routledge. Knechel, W. Salterio, S., 2016. Auditing:Assurance and Risk. fourth ed. New York: Routledge. Raiborn, C., Butler, J. Martin, K., 2016. The internal audit function: A prerequisite for Good Governance. Journal of Corporate Accounting and Finance, 28(2), pp. 10-21. Sonu, C., Ahn, H. Choi, A., 2017. Audit fee pressure and audit risk: evidence from the financial crisis of 2008. Asia-Pacific Journal of Accounting Economics , 24(1-2), pp. 127-144.