Confirmation Letter Example - 848 Words

Poconos, PA Dear Mrs jenkins, Thank you for choosing Great Wolf Lodge. Weve got tons of fun (and gallons of water) in store for your whole family. If you need to update your information or make any changes to your reservation, please call us at 800.768.WOLF(9653). For security purposes, we will require the last four digits of the credit card used to make the reservation. We look forward to your stay. GUEST PROFILE Name: Email @aol.com STAY ITINERARY Great Wolf Lodge Confirmation ID # is: 1775729959 Check in: 01-13-12* Check out: 01-14-12* # Nights: 1 Suite Type: Family Suite w/ Balcony/Patio # of Adults: 2 # of Children: 2 Rate, Taxes Fees: $ 207.36 Deposit Amount: $ Remaining Balance: $ 207.36 *Check in time begins at 4 pm or as the†¦show more content†¦If you call back and change your arrival date or length of stay, your rate for each date is not guaranteed and may increase with any changes. If you need to cancel your reservation within 72 hours of arrival, we will allow you to change your reservation ONCE to another date without penalty; however, again the room rate may change because it is based upon your arrival date and length of stay. Any additional changes to your reservation or choosing not to arrive on the new scheduled date will result in a complete forfeiture of your deposit. Cancellation Policy All guests have up to 72 hours prior to arrival to cancel minus a $25.00 processing fee that will be deducted from all deposits prior to refund. A forfeiture of one nights deposit will be required if the reservation is changed or cancelled within 72 hours of arrival. Choosing not to arrive on the scheduled date will result in a full forfeiture of your deposit. Have a Question? No problem. Click Here for answers to frequently asked questions about your visit to Great Wolf Lodge,Show MoreRelatedAudit Letter of Inquiry to Client Lawyer1269 Words   |  6 Pagesrepresented on the financial statements. Section 337 accomplishes this by using a number of practices to guide the auditor. A detail of the accounting standards and explanations of the techniques in field work are the basis. These are supported by examples of letters amp; correspondences that an auditor can use, key interpretations of difficult passages, and corresponding passages from other professional associations that the auditor will encounter when trying to assure such contingencies. The documentRead MoreAccounting Manual On Date Of Shipment And Make Inquiry About Accountants1740 Words   |  7 Pagesoverdue accounts with audit procedures (confirmation, determine existence of debtor in directories, etc.) 7.63 Confirmation of Trade Accounts Receivable a. 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For example, after the 9’11 incident, people started fearing all Muslims and had the concept of terrorist and the best prototype that matched the concept â€Å"terrorist† was Muslim. In this paper I will cover three terms; Prototypes, confirmation bias, and belief perseverance. Depending on the situation, prototypes can be used as an advantage or disadvantage. The advantage

Nonresident Parents and Their Effects on Families Essay

Nonresident Parents Involvement and its Effect on the Family Members Divorce, single parenting, early pregnancy, are just some reasons for a parent not to be present in their families as a matter of fact its been said that almost half of the kids have had lived in a family where one of the parents for many different reasons had been missing. But is it different when parents are involved with their kids? What are the different effects that this causes on them both the kids and the parents? First, childrens discipline is affected by the nonresident parents situation. If the parents want to have a better control of their kids and if they continue to have contact with their children they may be able to maintain consistent discipline†¦show more content†¦And they are more likely to have emotional crash downs In few studies it has been explored the level of the fathers involvement what shows that if the father is highly involved the mothers are more satisfied and have less stress. Financial support is a really important part of the mothers satisfaction. If the mother receives economic support from the father it has been shown that these mothers are the most satisfied. It is also said that mothers who receive child support often want their kids to see their father more regularly these mothers were angry and resentful if the father had no contact. In other cases mothers get frustrated because they are unable to handle their children and their needs a mother who is stress out because the situation and see themselves without the backup of the father fall into depression and are unable to handle their child. This leads them to be careless and hopeless about the situation; in this case mothers are highly not satisfied. Finally the fathers satisfaction is another effect of nonresident parents. In some families its usual to see the mother interfering with the fathers visitation, like not letting the father see the child or not respecting the hours of visitation or just obstructing the process. But this behavior is frequently denied by the mother. The fathers satisfaction can be affected by the remarriage of the mother which makes it difficult for the fatherShow MoreRelatedThe Role Of Father Involvement For Children Development Essay1535 Words   |  7 Pagespresents about Role in the father involvement literature trough the researches. To know the father involvement for children development. Further we present what different other nation’s father role and what is going changed. This paper is based on The Effects of Father Involvement: An Updated Research Summary of the Evidence(FIRA, Sarah Allen, Kerry Daly, University of Guelph). It is not to compare with father and mother, Knowing the fathe r’s importance. 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Cyclermate Report Free Essays

string(92) " value has been recorded with historical price in the purchase time – by the end of 1990\." CYCLERMATE COMPANY PERFORMANCE REPORT Word count: 3099 words The INCREDIBLES – FB2A Ngo Mai Anh Hoang My Hanh Dinh Ngoc Huyen Nguyen Hai Ly Nguyen Ha Thu Nguyen Son Tung Content 1. Introduction 2. Liquidity and Capital structure 2. We will write a custom essay sample on Cyclermate Report or any similar topic only for you Order Now 2. 2. 3. 2. 4. 2. 5. 3. 1. 3. 2. SWOT Analysis Liquidity Matters Capital Structure Matters Short-term options Page 3 4 3. Production Methods SWOT Analysis Short-term Options 8 4. Human Relations 5. Investigation for Lone-term Survival and Profitability 6. Conclusion 7. Reference 8. Appendix 10 12 13 14 15 2|Page 1. Introduction Cyclermate Ltd is a small company producing bicycles in UK. The firm was set up by Lewis Llewellyn and Dai Armstrong, the two close friends in a local cycle touring club. They produce traditional upright cycle, which imitate the 1940’s and 1950’s. In 1990s, the company expanded to meet the demand and they bought a 15,000 square feet warehouse with 2,000 square feet of office accommodation. The high quality hand- made bikes brought them good reputation and maintained high sales though they did not advertise much. However in 2010 the company has trouble as the sales decrease and the demand fell in spite of lower price. Some customers even complained about quality of the product because they got accidents due to front brake. We are a group of consultants and we are preparing this report that will give Cyclermate’s banker an objective view about this company. Although at the moment they are having overdraft and some difficulties in selling products, we are here to make the bank see opportunities of this company and continue investing in it. 3|Page 2. Liquidity and Capital Structure 2. 1. SWOT Analysis ? Strengths ? ? Cyclermate has a long establishment time and reputation in producing traditional bike. The company has asset of a large piece of land worth ? 208,000 (included ? 48,000 of factory and ? 160,000 of unused land). ? Weaknesses ? ? Cyclermate has very few current assets and more non-current asset. This reduces the liquidity of money. There is a great liability that is in the form of bank overdrafts. Costs are rising while price per unit decrease to encourage customers resulting in reduce in revenue. ? Opportunities ? ? A fixed amount of bike is ensured to be sold with Cyclermate’s reputation Sales may increase with environment protection trend There is a chance of getting investment from Dai’s cousin ? ? ? ? Threats Banks do not allow anymore overdraft, thus there is a possibility of bankruptcy With competition from other companies and e-commerce, together with bad reputation from accidents caused by Cyclermate’s bikes. sales may continue to remain low ? Linda Llewellyn – one of three shareholders wants to withdraw money from company business 2. 2. Liquidity Matters The current ratio measures whether or not a firm has enough resources to pay over its debt over the next 12 months. Current ratio is calculated as follow. In this case, current ratio is 1. 85 which means that for every dollar the company owes in the short term it has ? 1. 5 available in assets that can be converted to cash in the short term. Therefore, it can be understood that current liabilities are still in control. However, the ratio is a little bit high so it reflects that the company is not efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capit al management. 4|Page Quick ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately. The higher the ratio, the greater the company’s liquidity is. (Quick Assets = Current Assets – Inventory) Here, Cyclermate has a quick ratio of 1. 15 which means Cyclermate has enough quick assets to convert to cash in order to pay current liabilities if necessary. Cash ratio measures a company’s ability to immediately use cash to pay its current debts This ratio indicates that this company does not have much cash in hand and naturally it cannot pay bank overdraft right away by cash. Generally, Cyclermate’s current liabilities are still in control with the liquidity of its current assets. However, with limited cash in hand, other current assets are needed to increase liquidity in to ensure the ability to pay debts in urgent circumstances. . 3. Capital Structure Matters Capital structure is the way a company combines between Equity and Liabilities in order to optimize financial sources. The effectiveness of a company’s capital structure is often analyzed through debt-to-equity (D/E) ratio. Here, Cyclermate’s D/E ratio is estimated 1. 976. It means that with eac h ? 1 of Equity, there is ? 1. 976 of Liabilities. In other words, at the moment, the ability to pay debt of Cyclermate is over the ability of payment for shareholder’s fund. To resolve the problems or to reduce the ratio, there are two main trends: decrease Liabilities and/or increase Equity. In the short term, it is very difficult to raise shareholder’s fund as it takes time to persuade individuals and organizations to invest in a small company who is in the verge of bankruptcy. Even when there is a possibility that Dai’s cousin will invest to Cyclermate, long time will be needed to complete legal policies and internal matters. Thus, in short-term, it is more rational to focus on minimizing Liabilities. Therefore, problems of capital structure in short-term turns out to be the same matters with liquidity, which is: how to increase cash in company account to pay bank overdraft and other liabilities. |Page 2. 4. Short-term Options To deal with the difficulties of Cyclermate Ltd in liquidity as well as capital structure, we firstly take into account about the company assets that can be quickly converted to cash in case bank asks for paying back overdraft. The assets are chosen includes company’s free hold land and trade debtors. Looking at this companyà ¢â‚¬â„¢s financial strengths, it is easy to recognize its very huge freehold land which is worth ? 160,000. However, this value has been recorded with historical price in the purchase time – by the end of 1990. You read "Cyclermate Report" in category "Papers" Thus, we calculate the current price of the land in December 2011 is about ? 269,160. 4 (if the price in 1990 was 100%, the inflation rate made the average price in December 2011 reach up to 168. 244%). As a result, if we convert immediately the freehold land, the money gained is enough to pay all ? 264,864 current liabilities (including ? 177,364 of bank overdraft and ? 87,500 of trade creditors). In addition, the company has a small scale; therefore; we do not have to concern so far about expanding factory area. In addition, this company has ? 00,571 at trade debtors that represents the amounts own by cycle shops and this amount of money can cover the bank overdraft. Though Cyclermate could not take back all the trade debtors, they should take back as much as they can. Then, we consider about plans to increase profit or to decrease cost for Cyclermate in short-time with the purpose to raise the company’s fund: The draft budget for 2010/11 points out that Cyclermate has poten tial to have budgeted trading loss with only 950 and 1300 bikes sold through direct mail order and cycle shop in turns. In the first stage, we calculate the amount of bikes to reach BEP (break-even point) with assumption of the same price, same cost and same proportion of two types. In the calculation: Q*: Break-even point Fixed cost = Indirect cost Price per unit = Average price per unit = Total sales / Total bike quantity (of both 2 types of bike) Variable cost = Direct cost per unit ? Q* (estimated) = 2,753 bikes 6|Page Thus, to reach BEP Cyclermate needs to sell 503 more bikes (including about 212 bikes through direct mail order and 291 bikes through cycle shop). In fact, how to sell 503 more bikes is a difficult matter. As a result, we decide to suggest lowering direct cost in each bike by reducing parts namely lamps, lock, basket, dynamo and brake front (replace by brake front without dynamo). The reasons will be explained in detail in next part about Production. By doing this, each bike saves about ? 31. 09 for direct material / variable cost. We calculate BEP again with the new variable cost and find out Q* = 2310 bikes which means Cyclermate only needs to sell more 60 bikes (25 bikes through direct mail order and 36 bikes through cycle shop). Consequently, the cost cutting method can help increase profitability. Moreover, there are some employees want to retire or cannot work anymore like Lewis Llewellyn or Idris Pugh. If Cyclermate accepts to let them free (the plan will be explained in Human Relations part), they will have a new budget of ? 67,534 per year. This budget is not only enough to employ new staffs to vacant positions, but also can save an amount of salary for the company. 7|Page 3. Production Methods 3. 1. SWOT Analysis ? Strengths: ? The cycles made by the company are â€Å"retro† styles and totally hand-made with high-standard which have high demand from the market ? The whole process is divided clearly into stages which are responsible by specialized people at each specific stage ? Weaknesses: ? ? ? ? Faults is continuously appearing and reduces the quality of the product The recent painting method causes some quality problems to a number of fames. Moreover, the highly toxic paint materials is ruining the compressor and extraction equipment There are some components that are not necessary make the cost to produce a cycle quite high There are some employees’ issues that invisibly affects the production and reduces the productivity ? Opportunities: ? The new materials and technologies that Dai’s relative provides is a great opportunity to develop the product The firm has commissioned a cycle shop in Cardiff to build the wheels for it with reasonable quality and are always delivered quickly 3. 2. Short-term Options First of all, it is good that the company have specialized people responsible for each specific stage. This is because on e of the most important facets of job specialization is its potential to increase worker productivity and output. However, in the current arrangement, there are still some clashes of tasks between people. Therefore, it is necessary that tasks are assigned specifically to employees. Secondly, after the interview, it is clearly that faults causes mainly by the painting method and Janice’s mistakes as she has to work quickly and late. In short term, it is too difficult to upgrade the painting method to fix the paint quality problems so reducing the number of fames painted each day to focus on the quality should be concerned since demand for the period continues to fall. The company also should prioritize assembly to guarantee that every product is tested carefully before reaching customers. Beside the problems mentioned above, there are some employees’ issues that also need to be concerned about such as Idris Pugh who is responsible for wheels, mudguards, chain guards, stays and other hardware is really old and often absent because of his heath. Fortunately, the company has already 8|Page commissioned a cycle shop in Cardiff to do the job with reasonable quality and is always delivered quickly. The direct cost is somewhat higher than the materials and components used by Idris, but the company can reduce the cost of paying salary for Idris. Since the cost is rising significantly, it is highly recommended that some component which does not add any value to the product should be eliminated. In addition, whether something adds to the value of the product or not are determined by customers rather than by the company. For instance, an example of something a customer would consider being waste: redundant accessories. Customers obviously do not want to pay for it, so the company can reduce costs by eliminating it as much as possible. In this situation, the company could reduce costs by removing lock, basket, and lamp and replace the brake with dynamo with a normal brake. The company also should rearrange the warehouse to reduce the wastes causes by moving between places, searching things and so on, because the process looks to be somewhat shambolic. The warehouse should be rearranged. (Refer to appendix) 9|Page 4. Human Relations Human relation is the way people interact and behave toward each other, human relation plays important role in business. Each organization or business tries to find out the effective ways that build up a good relationship in firm and maintaining it. Taking the time to think strategically about how the people in your business are managed will help you avoid potential problems. After interviewing with people in the company and reviewing their work, we realized that the clash of work did not only slow down the process but also create conflicts between members. Since each job is not done or supervised by one specific person, it is hard to keep track of the responsibilities when errors occur. To make ourselves clear when suggesting specialization, we will now name the specific jobs for each person in the company. Dai Armstrong is enthusiastic both about the company and about its future, he gave a number of ideas about possible directions, however he has too much work such as paperwork, doing fame. As a director, his task is about external relation but he only works in the factory. To develop their company, he needs to go out and work with the distributors. Another shareholder, Lewis Llewellyn, is less optimistic than Mr. Armstrong about company’s future. He also shows that he is keen on retiring. Since he does not desire with work, company should let him retire. The third shareholder in the board of director is Mr. Lewis’ wife. After divorcing with Mr. Lewis, she wants one third value of the business. To deal with this difficult problem the company should negotiate with Lewis’s ex-wife, either by continue giving her her dividend or persuade her to take her investment back only according to inflation rate. In production team, Mr. Maldwyn Jones thinks that his manager undervalues his skills and he is thinking about leaving due to this. To improve as well as motivate him, the company should let him replace Lewis in manager board in the business manager position while Mr. Armstrong works on external relations. At the same time, Mr. Maldwyn should still continue his painting job while helping Dai with management. Mr. Emlyn Morgan has many ideas about how to improve production and his wife thinks that he is undervalued by the managers. Like Mr. Maldwyn, to motivate him to work his best, he should be promoted to the overall production managers, overseeing all the works happens in the factory and assist the young workers as they have questions. 10 | P a g e Although Idris Pugh is a wheelwright perfectionist and his products never gets complaints, he is not not healthy enough to work regularly. We think that the best solution is to let him retire and recruit a new skillful worker to replace him. Janice and Ffred are two young assemblers. Janice likes her job but sometimes she feels pressure because she has to work overtime. However, because the sales have decreased and there are a lot of bikes left therefore she will not have to work overtime for a while. Ffred is young and in experience so he often makes mistake. Now, with the supervising of Emlyn Morgan, he will able to avoid faults. Packing is a step that is taken by anyone who has time. We think that factory should have an employee who is specialized in this task. Ianto Prichard is an odd-job man and cleaner in the factory. We decide to promote him to be in charge of this task since he is used to the work in the firm. He can do his job every weekday morning and for certain his salary will be higher. Glady Wells, who cleans the office twice a week, can clean both office and factory now twice a week and he will be paid more. 11 | P a g e 5. Investigation for Lone-term Survival and Profitability Political ? From 1990s, UK government and campaign group have tried to promote cycling as a good alternative choice for car and a good way to improve health ? 12,000 miles of the National Cycle Network is build which are equivalent to 200% of the network expansion ? London is the host of Olympic 2012 with the commitment to encourage people to participate more in sports activities like cycling Economic ? UK has recovered from economic crisis thus customers would have more budget ? Fuel costs is rising, therefore many people are switching from car to bicycle ? Growing online sales of bicycle products Social ? UK people are more aware of health and environment benefits from riding bicycle, especially in avoiding absenteeism ? More events organized to encourage people participation in cycling ? Traditional bike has been in favor of customers Technology Law Environment ? New types of bike has been launched to the market ? Laws encourage people to choose bicycle (e. g: protecting cyclists against car drivers in an accident or having preferential traffic signals) ? Environment protection campaigns promote and make people aware of advantages of riding bicycles in reducing emissions One company is a successful company if it has a good management team. Cyclermate Ltd really needs a good director who has clear vision about the company’s future and he must know exactly how to run this company. By looking at the PESTEL analysis above, we think that Dai Amstrong still see a great potential in this industry, thus he keep being so optimistic about it. He now must reorganize the company’s structure to make it work more efficiently. In addition, the director should pay attention to financial management. It plays an important role in the survival of the company. According to Mr Jones, the company had not advertised its products in the national press for some years now, we would have to advertise more on media. Besides, he mentioned an alternative route to increased sales that is trying to build up the direct sales to have the maximum benefit. We can sell the products online through Internet which is a helpful tool for saving advertising cost. Furthermore, the directors also should pay attention to the demands of customers to know exactly what they want so that its products could meet the needs of customers. The other firms in the same market were increasing their sales of â€Å"traditional† machines; therefore; we could think about the new technologies to develop new products. Mr Owen – Dai’s cousin had some expertise in new technologies and he was willing to help. The profitability of the company might be ensured if all the options are applied. Besides, we can apply some campaigns such as saving energy that helps reduce the heating, lighting and power cost. 12 | P a g e 6. Conclusion To conclude, the main problems in Cyclermate are the low liquidity of their asset, and problems in managing human resources. We believe that with the suggested solution, Cyclermate will be in a safer and more successful position than they are now. Through this report, the bank has a clearer view of where Cyclermate is standing in its development. With the resources and potential they have in hand, it is such a waste if they do not get further loan to continue developing. We also want to point out that with this uch potential, Cyclermate may even appear to be a very good candidate for loan, as they can expand their market not only local-wide but world-wide. 13 | P a g e 7. Reference 1. TIMOTHY S. HATTEN (200), Accounting Records and Financial Statements. In: Small Business Management: Entrepreneurship and Beyond. 4th ed. South-Western: Cengage Learning, pp. 202-234 2. The British Cycling Economy [Online] http://corporate. sky. com/documents/pdf/publications/the_british_cycling_economy. htm 3. Gregory Hamel. January 07, 2011. The advantages of Job Specialization. [Online]. Avaiable: http://www. ehow. com/info_7743130_advantages-job-specialization. html. [December 10, 2011] 4. David Anderson. October 2006. 5S Manufacturing: What Is It?. [Online]. Available: http://www. todaysfacilitymanager. com/tfm_06_10_profdev. php. [December 10, 2011]. 5. Steve Jonathan. March 14, 2011. The advantages of 5S. [Online]. Avaiable: http://www. ehow. com/info_8061038_advantages-5s. html. [December 10, 2011] 6. LeanMan. 2010. Increase The Profit through waste reduction. [Online]. Avaiable: http://leanman. hubpages. om/hub/Increase-Profit-through-waste-reduction. [December 10, 2011] 14 | P a g e 8. Appendix Sales Direct mail order Cycle shop Budgeted total revenue Direct materials Indirect costs Total Costs Budgeted trading loss Interest Payable Possible tax loss recovery Shareholders’ Funds 846,118 (916,312) 446,580 1,292,698 (1,362,892) 29,602 (-40,592) (36,000) 35,000 28,602 units 1067 1370 Price ? 700 420 Revenue 7 46,900 575,400 1,322,300 Table 1: Draft budget – 2010/11 after selling more cycles (Number in red is the old record) Picture 1 Rearrangement of Warehouse 15 | P a g e How to cite Cyclermate Report, Papers

Weighted Average Cost of Capital †Free Sample Assignment

Question: As a financial consultant, you have contracted with Wheel Industries to evaluate their procedures involving the evaluation of long term investment opportunities. You have agreed to provide a detailed report illustrating the use of several techniques for evaluating capital projects including the weighted average cost of capital to the firm, the anticipated cash flows for the projects, and the methods used for project selection. In addition, you have been asked to evaluate two projects, incorporating risk into the calculations? Answer: Executive Summary This report provides analysis for investment decision in Project A and investment choice between Project B and Project C. Method of analysis includes capital budgeting. Weighted average cost of capital is calculated including debt and equity form of financing. Discounting the project A with companys cost of capital gives positive NPV. But with WACC of project financing NPV of project A is negative. Investment choice between Project B and Project C depends on expected cash flow as both the project has same life and same investment required. Project C has higher expected cash flow than Project B which makes project C as better investment choice. Report includes detailed calculation of WACC, anticipated cash flows, NPV and IRR for project A, B and C. Analysis for Project A A. Equity Financing Theoretically cost of equity is return required by stock holders of company. Formula for calculating cost of equity is Recent dividend is $2.50 and dividend growth is 6%. Dividend in first year would be $2.50 * (1+0.06) = $2.65 Currently stock is trading at $50 and flotation cost is 10% Solving above formula with all inputs gives cost of equity 11.89% Advantages: Equity financing doesnt require any fixed payment obligation to equity holder. Dividend rate is not fixed and cash can be used for better opportunity in business opportunity. Equity financing doesnt require any collateral or pledge. Existing assets remain unencumbered. Assets purchase with equity financing can be used to secure long term debt. Equity share holders invest for long term horizon. Company has responsibility to give returns but not responsibility or obligation to generate immediate returns. So business which cant generate immediate return or require relative long payback period may opt for equity financing. Disadvantages: As equity investment doesnt guarantee any fixed return or dividend payment, investors expect more return than debt holders for the risk associated with equity. Equity share holders have rights pertaining to selection of board of directors and major business decisions. Capital raised by equity dilutes the controlling rights of business with equity shareholders. Investors has right to claim on cash flow after fulfillment of all disbursement when business sold out. They have right on cash flow in proportion of their investment B. Debt Financing Appropriate cost of debt is 5% for wheel industries. As tax advantage on debt financing brings down the cost of debt, cost of debt after tax will be = 5% * (1-0.35) = 3.25% Advantages: Control: Equity financing dilutes the controlling rights of business with share holders, but debt financing doesnt dilute any controlling rights of business. Simple Obligation: Debt financing has simple obligation of repayment of principal with terms and conditions. Once debt is paid, lender doesnt have any obligation with business. Tax advantage: Interest payment on debt is recorded as expense and hence it helps to save tax. As seen, debt with cost of 5% before tax has effective rate of 3.25% due to tax advantage Budgeting: As loan payment requires fixed payment, its easy to prepare budget in advance precisely. Disadvantages: Fixed Payment: For new business and startup, its difficult to manage fixed obligation initially as business takes time to generate returns. Credit rating: High debt on balance sheet is viewed as high risk. High risk rating makes additional debt (if raised) costlier Collateral: long term debt financing requires collateral as guarantee of repayment of loan. If the loan gets default assets and personal collateral may get ceased which can stops ongoing business activities. C. Weighted Average Cost of Capital Firm has decided capital structure consisting of 30% debt and 70% common stock Cost of common stock is 11.89% Cost of debt before tax is 5% Tax rate is 35% WACC = Equity Proportion * Cost of Equity + Debt Proportion * Cost of Debt * (1-tax) = 0.70 * 11.89 + 0.30 * 0.05 * (1-0.35) = 9.30% Use of WACC WACC is widely used for project evaluation in business When new project has similar risk profile like existing projects of company, WACC is used to discount such projects to decide between investment options WACC is used as discount rate to find net present value (NPV) of cash flows. WACC is used to calculate economic value added (EAV). WACC is cost of capital for project. EAC is calculated deducting cost of capital from profit of the company WACC is also used for valuation of stock or company. Cash flows are projected for future years and discounted with WACC to find out present value of business, firm or stock. D. After tax cash flow Project A Year 0 Year 1 Year 2 Year 3 Cash inflow Additional revenue after tax $780,000.00 $780,000.00 $780,000.00 Depreciation tax advantage $175,000.00 $175,000.00 $175,000.00 Cash outflow Initial investment $1,500,000.00 Additional annual cost after tax $390,000.00 $390,000.00 $390,000.00 Net cash flow -$1,500,000.00 $565,000.00 $565,000.00 $565,000.00 Initial outlay is $1,500,000 (Investment) Additional revenue after tax for 3 years is $1,200,000 * (1-0.35) = $780,000 Initial investment is depreciable on straight line method for 3 years Depreciation each year = $1,500,000/3 = $500,000 Tax advantage on depreciation = $500,000 * 0.35 = $175,000 Additional annual cost after tax for 3 years is $600,000 * (1-0.35) = $390,000 Net cash flow for year 1, year 2 and year 3 is $565,000 E. NPV Discount rate is 6% Project A Year 0 Year 1 Year 2 Year 3 Net cash flow -$1,500,000.00 $565,000.00 $565,000.00 $565,000.00 Discount factor 1 0.94339623 0.88999644 0.83961928 Discounted Cash Flow -$1,500,000.00 $533,018.87 $502,847.99 $474,384.89 NPV $10,251.75 Discount factor = 1/(1 + 6%)^Year Discounting cash flows with 6 % gives NPV of $10,251.75 As NPV is positive its financially feasible to undertake the project Positive NPV shows project is generating $10,251.75 cash in present value after covering cost of capital F. IRR IRR for project is 6.37% WACC for project is 9.30% As WACC IRR, its not financially feasible to undertake this project Its conflicting with earlier result when discount rate was taken 6% and NPV was positive for project A With cost of capital 9.30%, NPV of project A is -$228,113 Its not recommended to invest in project A with WACC of 9.30% Analysis for Project B and Project C A. Cash flows Project B Probability Cash Flow Expected Cash flow 0.25 $20,000.00 $5,000.00 0.50 $32,000.00 $16,000.00 0.25 $40,000.00 $10,000.00 Expected Annual Cash flow from Project B $31,000.00 Project C Probability Cash Flow Expected Cash flow 0.30 $22,000.00 $6,600.00 0.50 $40,000.00 $20,000.00 0.20 $50,000.00 $10,000.00 Expected Annual Cash flow from Project C $36,600.00 For project B, expected value of cash flow considering probabilities of different cash flows is $31,000 For project C, expected value of cash flow considering probabilities of different cash flows is $36,600 Project B Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Net cash flow -$120,000.00 $31,000.00 $31,000.00 $31,000.00 $31,000.00 $31,000.00 $31,000.00 Discount factor 1 0.925925926 0.85733882 0.7938322 0.7350299 0.6805832 0.6301696 Discounted Cash Flow -$120,000.00 $28,703.70 $26,577.50 $24,608.80 $22,785.93 $21,098.08 $19,535.26 NPV $23,309.27 IRR 14.17% Project C Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Net cash flow -$120,000.00 $36,600.00 $36,600.00 $36,600.00 $36,600.00 $36,600.00 $36,600.00 Discount factor 1 0.925925926 0.85733882 0.7938322 0.7350299 0.6805832 0.6301696 Discounted Cash Flow -$120,000.00 $33,888.89 $31,378.60 $29,054.26 $26,902.09 $24,909.35 $23,064.21 NPV $49,197.40 IRR 20.57% B. Conflict between IRR and NPVs Conflict between IRR and NPV occurs when project size is different and project life is different Its not correct to compare two projects with different investment requirement on NPV basis. Project with huge investment may have greater positive NPV, though IRR would marginally greater than cost of capital, than project with small investment but better IRR. For example, Project A has initial investment of $1,000,000, WACC of 8%, IRR is 9% and NPV is $50,000 Project B has initial investment of $200,000, WACC of 8%, IRR is 12% and NPV is $20,000 Though NPV of project B is smaller but its better investment as investment is much less than project A and IRR is better to cost of capital Other conflict with investment size is: Its difficult to generate higher IRR with larger project As project size increases its difficult to maintain IRR as high as smaller project has With increasing project size, efficiency of business activities goes down compare to smaller size and cost of financing also increases Problem with IRR is it doesnt give any concrete number in absolute term. IRR can be compared to other project but for standalone project it doesnt reflect value addition to company C. Investment Decision Discounting cash flow with 8% project B gives NPV of $23,309 and Project C gives NPV of $49,197 IRR of project B is 14.47% and IRR of project C is 20.57% As Project C has higher NPV and higher IRR also project C should be selected for investment Recommendation Wheel industries need to raise capital for financing of project A. Current cost of capital is 6% for ongoing projects. WACC for project A is 9.30%. Discounting project A with existing cost of capital gives positive NPV while discounting project A with WACC of financing it gives negative NPV. WACC of financing for Project A would be correct discount rate than using existing cost of capital of company. As with WACC of 9.30%, NPV is negative its not recommended to invest in Project A Project B and Project C both have same investment and life. But expected annual cash flow of project C is higher than Project B. Discount rate for both the project is same which makes NPV of project C higher than Project B. Its recommended to invest in Project C between project B and Project C. References lardbucket.org,. (2015). Weighted Average Cost of Capital (WACC). Retrieved 2 June 2015, from https://2012books.lardbucket.org/books/finance-for-managers/s12-05-weighted-average-cost-of-capit.html Chuluun, T., Prevost, A., Puthenpurackal, J. (2014). Board Ties and the Cost of Corporate Debt. Financial Management, 43(3), 533-568. doi:10.1111/fima.12047 CORDES, J., SHEFFRIN, S. (1983). Estimating the Tax Advantage of Corporate Debt. The Journal Of Finance, 38(1), 95-105. doi:10.1111/j.1540-6261.1983.tb03628.x Finance - Zacks,. (2015). Advantages Disadvantages of Equity Capital. Retrieved 2 June 2015, from https://finance.zacks.com/advantages-disadvantages-equity-capital-4270.html Folger, J. (2014). What is the formula for calculating weighted average cost of capital (WACC)?. Investopedia. Retrieved 2 June 2015, from https://www.investopedia.com/ask/answers/063014/what-formula-calculating-weighted-average-cost-capital-wacc.asp Investopedia,. (2012). Cost Of Equity - Complete Guide To Corporate Finance | Investopedia. Retrieved 2 June 2015, from https://www.investopedia.com/walkthrough/corporate-finance/5/cost-capital/cost-equity.aspx com,. (2015). Capital Structure - advantage, disadvantages, cost, Advantages and disadvantages of financing options. Retrieved 2 June 2015, from https://www.referenceforbusiness.com/small/Bo-Co/Capital-Structure.html Sharma, M. (2012). Determining Volatility, Cost of Equity, and Equity Valuation of Private Business for MA. Private Equity, 15(3), 102-105. doi:10.3905/jpe.2012.15.3.102 Velez-Pareja, I., Tham, J. A Note on the Weighted Average Cost of Capital WACC. SSRN Journal. doi:10.2139/ssrn.254587 Weber, T. (2014). On the (non-)equivalence of IRR and NPV. Journal Of Mathematical Economics, 52, 25-39. doi:10.1016/j.jmateco.2014.03.006 Burger, P., Hawkesworth, I. (2013). Capital budgeting and procurement practices. OECD Journal On Budgeting, 13(1), 57-104. doi:10.1787/budget-13-5k3w580lh1q7 Armitage, S. (2015). Discount rates for long-term projects: the cost of capital and social discount rate compared. The European Journal Of Finance, 1-20. doi:10.1080/1351847x.2015.1029591 Alcaraz, V. (2014). Should Practitioners (Continue to) Use a Single Discount Rate in Large-Scale Project Valuation?. Structured Finance, 20(2), 93-102. doi:10.3905/jsf.2014.20.2.093 Bas, E. (2013). A robust approach to the decision rules of NPV and IRR for simple projects. Applied Mathematics And Computation, 219(11), 5901-5908. doi:10.1016/j.amc.2012.12.031 Goel, S. (2015). Capital Budgeting. Business Expert Press. Jury, T. (2012). Cash flow analysis and forecasting. West Sussex [England]: John Wiley Sons. org,. (2015). Chapter 6 - Investment decisions - Capital budgeting. Retrieved 2 June 2015, from https://www.fao.org/docrep/w4343e/w4343e07.htm Investopedia,. (2012). Capital Budgeting: Capital Budgeting Decision Tools | Investopedia. Retrieved 2 June 2015, from https://www.investopedia.com/university/capital-budgeting/decision-tools.asp edu,. (2015). Chapter 14. Retrieved 2 June 2015, from https://smccd.edu/accounts/nurre/online/chtr14.html com,. (2015). Capital Budgeting. Retrieved 2 June 2015, from https://www.prenhall.com/divisions/bp/app/cfl/CB/CapitalBudgeting.html

Cultural Conflict between Christian Western Countries and Islamic Countries of the East

Table of Contents Introduction Western colonization and Islam Religious differences Christian democracy vs. Islam authoritarianism The holy war Conclusion Works Cited Introduction There is a widespread thesis by Huntington that defines the conflict in the world today as the clash of civilizations. This conflict goes beyond social classes and economic groups (Huntington p.28). It is a cultural conflict between two civilizations that share different ideologies.Advertising We will write a custom research paper sample on Cultural Conflict between Christian Western Countries and Islamic Countries of the East specifically for you for only $16.05 $11/page Learn More The 21st century has seen a surge of violent ethnic clashes, especially in the Islamic nations of the East. In the eyes of the democratic western world, the violence is directly attributed to the oppressive political systems of the East. The conflict has now shifted to a raging clash between the Christian West and the Islamic East, especially after the September 11 attack on the United States. The assumption of many is that the conflict between the West and the East is political. The Islamic East is fighting off the efforts of the West to convert them into democratic states. On the contrary, you would be surprised to learn that even among the western countries, there are many similar views on democracy similar to the ones that are held by the Islamic East. These countries disagree on the basis of politics. Therefore, there has to be something else that fuels the conflict between the East and West. From my analytical point of view, I agree with experts who trace the cause of this conflict to cultural differences between the two civilizations. Eastern Islamic countries are by far the most conservative people in the world today. On the contrary, the western world claims to share the most liberal ideologies. A cultural gap ensues that ultimatum leads to conflict. Western colon ization and Islam The western colonization of the East in the 18th and 19th centuries left a series of mixed reactions amongst the Islam colonies. The West brought with it ideologies such as modern education, democratic government, and Christian religion. This western experience became an eye opener for the Muslim community. There was a general consensus that the West had come to water down their Islam identity. Therefore, there was the need to redefine the role of the Islam faith in the modern community. While all Muslims denounced western culture, some supported the idea of developing Islam alternatives to western culture. Others supported total Islamization without traces of the western influence. To the West, islamization is the main bone of contention with the East, claiming there is no democracy in Islam. For the East, the issue is not about democracy or lack of it, but about the cultural differences between the two groups (Aslan 12). Religious differences Religion has a deepe r impact on culture than it may seem to be at first glance. This is the main source of conflict between Muslims and Christians. For example, Islam allows polygamy up to a fourth wife. For Muslims, it is an acceptable culture. For the Christians, polygamy is condemned. In fact, the Western people view the Muslim practice as oppression to women (Landscheidt and Wollny 1). The western social values give women more freedom.Advertising Looking for research paper on cultural studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More For instance, they allow gender equality and sexual liberalization. They prove to be more tolerant when it comes to educating women, political representation, divorce, homosexuality and abortion. All these freedoms allowed to women by the West are an abomination in the conservative Islamic East. They are viewed as sacrilege to their religion. Therefore, it is important for the East to shun the western values. The Sharia l aw, which is adopted by Islam states as the rule of law, is based on the teachings of the Koran. For Muslims, all aspects of their lives as pertains to religion and social rules of behavior are provided in the holy book. As a monotheistic religion that believes in only one God, Allah, Islam believes that all rules and laws were set by God. Therefore, it is an accepted culture amongst Muslims that the laws, even those which govern their politics, are based on religion (Landscheidt and Wollny 3). Christianity deviates from this in various ways. The reformation of Christianity in the 16th century led to the formation of many breakaway factions of the church. The church and politics were separated, and the quest for freedom and democracy took root. Therefore, the rules of law that govern the western world are not based on religion in the least. Rather, they are based on a merger of the rights and freedoms of individuals. This is one of the aspects of the western world that Islam cannot agree with. Their law is not based on religion. Christian democracy vs. Islam authoritarianism In terms of politics, the clash between the West and the East seems to be endless. The Christian West runs on democracy. These are set of rules that ensure the freedom of individuals in the society. Each person has the freedom to determine what is right and wrong. Democracy is seen as the height of civilization and goes hand in hand with freedom. The Muslim interpretation of Islamic law reiterates that all human actions are determined by Allah (Landscheidt and Wollny 4).Therefore, whatever one does is done to His glory. The independence of Muslims is curtailed by this very reason and explains why most Islamist states have authoritarian-hierarchical types of leadership in government. The leader, seen as Allah’s instrument, is obeyed to the latter and normally has power the people. This is what the West interprets as oppression or dictatorship. Islamic societies support the kind of le adership where religion has a strong influence on society. This is different in the West, where religion is separated from leadership. Therefore, religious leadership does not play an active role in peoples’ lives. Whilst the Christian West upholds freedom, the Islamist East upholds justice and doing what their religion says is right. Muslims feel justified to fight off the influence of the West. In the economic front, the West is seen as a formidable force that infiltrates weaker economic markets, tapping their potential at low cost of cheap local labor while reaping huge profits.Advertising We will write a custom research paper sample on Cultural Conflict between Christian Western Countries and Islamic Countries of the East specifically for you for only $16.05 $11/page Learn More A majority of Eastern Islamic countries are under-developed in terms of technology and reel from the effects of high unemployment rates (which they blame on the wester n type of education). This kind of exploitation by the West seems to fortify the belief of Islam states that they have to fight the unjust practices by the West, and the culmination of such fights are ‘terrorist’s attacks such as the September, 11 or the perpetual war on Iraq. The holy war These attacks by the Islam East are a result of the holy war, what they call ‘jihad’. According to Muslims, the translation of jihad as the ‘holy war’ is misconstrued. It is not that Muslims attack other cultures in a bit of religious fanaticism as there is no outright depiction of such attacks in the Koran. Rather, the Koran demonstrates that there are two existences of the world; the peaceful part, Islam and the part at war (designated to non-believers). Accordingly, Muslims are expected, as part of their duty, to merge the two parts of the world. That is to mean, they should spread peace (Islam) to the rest of the warring world (non-believers). Therefore, there is a need to defend their country, as well as their religion even to the extent of war and other extremities. After all, by acting according to the Koran, one expects a great reward in Heaven. The Christian western world, with its ideologies of freedom, globalization, liberalism, advanced technology, and economic monopoly is seen by Islam as a perpetration of all that is ‘evil’. Consequently, a Muslim feels that it is a calling to root out the evil so as to defend the loss of its religious societal values. Muslims believe that the ideal kind of world (and government) is of the kind that prophet Muhammad led in Medina (Aslan 69). This means that the society should have one leader, who bids people to do the will of Allah in fulfillment of their religious duties. Modernization, which is a concept introduced and epitomized by the western world, is a representation of the abolishment of any and all religious laws in relation to leadership. This is far removed from the Islamic concept of religion and leadership. Overly, Islamic states find their model of governance to be superior to the western model that is based on democracy, which goes against the requirements of Allah. To achieve the ideal state that relies on the religious rules that uphold the interdependence of state and religion, Muslims feel that the jihad is justified, and it is a means to enforce Islamic principles even if it means using violence. Extremists of Islamic fundamentals take this as a step further. They form a large network of supporters, acquire arms and weapons and fling themselves to the core of jihadist movements. This is what has culminated in terror groups, the kind that plotted the September 11 attacks. Terrorism has now become a widespread threat, especially to the western world. The western world mistakenly thinks that this is a political war. Therefore, it responds in that manner. The United States of America invaded Iraq in response to the September 11 attacks.Adv ertising Looking for research paper on cultural studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is what they termed as the war on terror. Consequently, other democracies of the western world joined forces to end the war on terror by subverting the political and economic state of the Islamic nation. In solidarity, other Islamic nations of the East continue to attack the West. Spain became a victim of this violence when on March 11; similar bomb explosions shook Madrid for supporting the United States by sending its troops to Iraq. Consequently, Spain withdrew its troops. The Islamic East saw this as a victory for its cause. In order to protect the state of Islam, violent threats such as terror attacks on the western world seem to give them the desired response for the western governments to withdraw their invasion of Islamic countries. Their reasoning is simple: the West should stop meddling in its Islamic culture by perpetrating their values of modernity, democracy, and freedom. Conclusion It is difficult to predict the end of the conflict between the largely Christian We stern countries and largely Islamic countries of the East. Political strife may be solved at tables, at conventions, but cultural strife is more delicate to handle. Islam, as a religion, is deeply rooted in the Muslim culture and has existed for over 1500 years; Christianity has existed for the past 2000 years. The Islam political system is embedded in its religion; in the Koran. Demanding a shift away from their Islamic ideologies would be tantamount to demanding Islamic reformation without their free will. These ideologies revolve around all aspects of society which include politics, social values and religion itself. Western effort to assert their ideologies on democracy, freedom, and other social values on these societies may be deemed as an affront to Islam (Funk and Abdul Aziz 15). The western Christian states emerge to be at the forefront of civilization, judging by their liberality. This freedom was not achieved overnight. It was a ferocious battle that started in the 16th c entury with reformist movements and stretched on for more than a century. Eventually, religion was separated from politics and society indulged in freedom. The Islamic reformation should not be a battle between Christianity and Islam. In that way, the conflict will never end. Rather, the reformation should be a religious conflict amongst the subsets of Islam; mainstream vs. liberal, traditionalists vs. modernists and so on, that they may find their own middle ground in their own religion. As for Muslims, their interpretation of the laws in the holy Koran should not be so radical as to infringe on the religious cultures of others. After all, the very Koran orders the believers of the Islam faith to dialogue with the non-believers in order to appeal to them. It does not say to bomb them into submission. A further call is made of religious tolerance towards other faiths such as Christians and Jews that have been in existence for as long as Islam was conceived (Landscheidt and Wollny 16 ). The Christian west, having achieved economic and technological advancement way ahead of the conservative Islam states, should strive to foster coherence with their globalization agenda. Barging into the Eastern markets with capitalist ideas will not augur well with the East that views such assault as injustice, therefore the need to retaliate. Rather, globalization can be used effectively to improve the education system of the East and to create employment opportunities to lift their standards in life, with both groups of civilizations viewing each other in mutual respect of their religion, culture and politics. Works Cited Aslan, Reza. No god but God, New York: Random House Publishing Group, 2005. print. Funk, Nathan, and Said Abdul. â€Å"Islam and the West:Narratives of conflict and conflict transformation.† International Journal of Peace Studies, 25.2 (2004): 1-28. Print. Landscheidt, Dennis, and S. Wollny. The conflict between the Western world and  Islam, Californi a: ICM, 2004. Print. This research paper on Cultural Conflict between Christian Western Countries and Islamic Countries of the East was written and submitted by user Titus May to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

English Surnames Meanings and Origins

English Surnames Meanings and Origins English surnames as we know them today family names passed down intact from father to son to grandson werent widely used until after the Norman conquest of 1066. Prior to that time there just werent enough people to really make it necessary to use anything other than a single name. As the countrys population grew, however, people began tacking on descriptions such as John the Baker or Thomas, son of Richard to distinguish between men (and women) of the same name. These descriptive names eventually became associated with a family, inherited, or passed down, from one generation to the next.   While they came into use in the eleventh century, hereditary surnames were not commonplace in England prior to the era of the sixteenth-century Reformation. It is likely that the introduction of parish registers in 1538 played a role in the use of surnames, as a person entered under one surname at baptism would not be likely to be married under another name, and buried under a third. Some areas of England came later to the use of surnames, however. It was not until the late seventeenth century that many families in Yorkshire and Halifax took permanent surnames. Surnames in England generally developed from four major sources. Patronymic and Matronymic Surnames These are surnames derived from baptismal or Christian names to indicate family relationship or descent- patronymic derived from the fathers given name and matronymic, meaning derived from the mothers name. Some baptismal or given names have become surnames without any change in form (a son took his fathers given name as his surname). Others added an ending such as  -s (more common in the South and West of England) or -son (preferred in the northern half of England) to his fathers name. The latter -son suffix was also sometimes added to the mothers name. English surnames ending in -ing (from the British engi, to bring forth, and -kin generally indicate a patronymic or family name as well. Examples: Wilson (son of Will), Rogers (son of Roger), Benson (son of Ben), Madison (son/daughter of Maud), Marriott (son/daughter of Mary), Hilliard (son/daughter of  Hildegard). Occupational Surnames Many English surnames developed from a persons job, trade or position in society. Three common English surnames- Smith, Wright and Taylor–are excellent examples of this. A name ending in -man or -er usually implies such a trade name, as in Chapman (shopkeeper), Barker (tanner) and Fiddler. On occasion, a rare occupational name can provide a clue to the familys origin. For example, Dymond (dairymen) are commonly from Devon, and Arkwright (maker of arks or chests) are generally from Lancashire. Descriptive Surnames   Based on a unique quality or physical characteristic of the individual, descriptive surnames often developed from nicknames or pet names. Most refer to an individuals appearance - size, color, complexion, or physical shape (Little, White, Armstrong). A descriptive surname may also refer to an individuals personal or moral characteristics, such as Goodchild, Puttock (greedy) or Wise. Geographical or Local Surnames   These are names derived from the location of the homestead from which the first bearer and his family lived, and are generally the most common origin of English surnames. They were first introduced into England by the Normans, many of whom were known by the name of their personal estate. Thus, many English surnames derive from the name of an actual town, county, or estate where an individual lived, worked, or owned land. County names in Great Britain, such as Cheshire, Kent and Devon have been commonly adopted as surnames. A second class of local surnames derived from cities and towns, such as Hertford, Carlisle and Oxford. Other local surnames derive from descriptive landscape features such as hills, woods, and streams which describe the original bearers residence. This is the origin of surnames such as Hill,  Bush, Ford, Sykes (marshy stream) and Atwood (near a wood). Surnames which begin with the prefix At- can especially be attributed as a name with local origins. By- was also sometimes used as a prefix for local names.

The Socio-Economic and Cultural Aspects of Japan Assignment

The Socio-Economic and Cultural Aspects of Japan - Assignment Example Each member presented their findings to the group and in the end, we were able to integrate the entire information into a single presentation for the group project. The development of this presentation and the overall group project did not come easily without the challenges. Our main finding of the culture of the Japanese people was their evolution from a mix of cultures across the Asian continent. This evolution was evident from the different aspects of their rich culture which included literature, arts as well as the lifestyle of the population that is about 126 million. The task given was about working in groups to come up with a presentation on the cultural aspects of a developing nation. The key concept we were able to learn is related to the working in groups to deliver a project and the ability to conduct research on a specific topic area. Since the topic area was about the culture of Japan, the rich culture of the people of the East Asian country was also acquired in the learning process. All the group members undertook a presentation of the different areas that they worked on and apart from being an enjoyable process; we were able to develop research and presentation skills. Group work is supposed to generate a sense of togetherness even if opinions differed (Anning 2010). The capability of the members of the team is varied and diverse. The level of diversity creates an instance where the members have a varying position on the issues that are raised within a group (Bell, 2012) but still find common ground. This was evident even while we were choosing the topic to take the research on. The main learning objective here is the level of teamwork which is the cohesiveness of the team in their work.

Financial ratios and their implications along with their usage Literature review

Financial ratios and their implications along with their usage - Literature review Example This essay discusses that financial ratios have been used by firms around the world to analyse how one firm performs in comparison to the other firm as well as to analyse the performance of the firm over the period of years. Therefore management calculates and uses financial ratios to identify the performance gap of the firm against its own past performances as well as against the performance of competing firms in the industry. In addition to this, management uses to analyse the financial performance of the firm against the average financial ratios of the firms operating in the industry as well and then identify areas where the firm has not been performing up to the mark. Some organisations use the financial ratios for the purpose of benchmarking as well and they tend to set different targets for different kinds of financial ratios and then make efforts to achieve these financial ratios. For instance, a firm would like to achieve a profit margin of 20% and therefore in order to achie ve this profit margin, the company would be making efforts to reduce the cost of the company or generate more sales so that costs is allocated to more sold units and targeted profit margin is achieved. Financial ratios are an important indicator about the performance of the firm and therefore it has been used not only by the management of the organisation but these financial ratios have also been used by investors, shareholders, suppliers, distributors and other stakeholders to analyse the financial performance of the company. ... Financial ratios can be subdivided into five major types of financial ratios on the basis of what these ratios reflect: 1. Profitability Ratios 2. Liquidity Ratios 3. Activity Ratios or Efficiency Ratios 4. Leverage Ratios 5. Market Ratios There are different financial ratios included in each of the five categories discussed above and each type or of ratios have their own importance and implications. TYPES OF FINANCIAL ratios Profitability Ratios Profitability ratios reflect how the firm is making profits using the assets or resources it has (Kaplan, and Atkinson, 1998). There are different types of profitability ratios and some of the most important profitability ratios have been discussed below: Profit Margin Profit margin of the firm is calculated using two variables; net profit of the company and the net revenue or net sales. Profit margin reflects the percentage of profits the firm earns out of the total revenue it generates. Formula for calculating profit margin is as follows: Higher profit margin of the firm shows that the cost of making profits is low and lower profit margin indicates that the cost of the company is high. Negative value of profit margin indicates a loss. Gross Profit Margin Gross margin of the firm reflects the profits generated by the company after deducting the production cost (Khan, 1993,). Higher gross profit margin reflects that the cost of production of the firm is low and vice versa. The formula for calculating gross margin is as follows: Operating Margin or Operating Profit Margin Operating profit margin of the firm reflects the ratio of operating profits of the firm against the net sales (Atkinson, Kaplan, Matsumura, & Young, 2007). Operating profit margin can be calculated using the following ratio: Operating

Operation Management Essay Example | Topics and Well Written Essays - 2500 words

Operation Management - Essay Example 55% were satisfied and 10% were dissatisfied. Operations management of the hotel should focus on improving the quality of service so that the proportion of dissatisfied customers is reduced. The objective of operations management is to create 99.99996% customer satisfaction. This objective is not being currently achieved by the operations management. If service quality is improved, then it will increase the room occupancy (currently at 75%) and profitability further. Table of contents: 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 2. Research Methodology†¦Ã¢â‚¬ ¦.4 3. Brief description of the specific features of the hotel which had a bearing on my analysis and were not included in the description provided†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 4. General Analysis of the hotel†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..5 4.1 Design†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 4.2 Planning in operations management of the hotel†¦Ã¢â‚¬ ¦6 4.3 Supply chain management†¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..6 4.4 Shop-floor control†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.6 4.5 Environmental best practices in the hotel†¦Ã¢â‚¬ ¦.7 4.6 Technological issues in operations management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦8 4.7 Quality management as part of operations management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 4.8 Benchmarking†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..9 4.9 The use of the philosophy of ‘ lean’†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.9 4.10 Business process Re-engineering in the operations management†¦Ã¢â‚¬ ¦.11\ 5. Analysis of one area of special focus†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.13 6. ... This is followed by qualitative and quantitative analysis. There is a general analysis of the operations management of the hotel. This is followed by the analysis of the quality of service of the hotel. The aim of this study is to understand in-depth the operations management of the five star hotel and to make appropriate recommendations. 2. Research Methodology: The research methodology includes both primary and secondary research. The primary research was conducted by visiting the premises of the hotel and directly observing the operations management at the hotel. It also included a survey of about 20 guests of the hotel. The secondary research was done by delving into books, academic sources and other reports concerning the hospitality sector and operations management. The data and information collected were analyzed qualitatively and quantitatively. 3. Brief description of specific features of the hotel which have a bearing on my analysis and were not included in the description given: The areas of service quality, costs and room occupancy were not mentioned in the description provided. There was also no mention of the supplies used by the hotel. These areas have a special bearing on my analysis. A customer survey was also undertaken. The recommendations are based on this survey. 4. General Analysis of the hotel: 4.1 Design (product and facility): Product design is one of the critical issues of operations management. It is product design that determines the characteristics and features of a product and how well the product functions (Dyson, Robert G, 2000). Facility design determines the capacity, location and layout of the production or service facility (Krajewski, L.J., and L.P. Ritzman, 1993). The five star hotel is located in

Disputes with Completion Dates

Disputes with Completion Dates As mentioned in the introduction, disputes associated with completion dates often become complicated due to association with different legal concepts. To fully comprehend the research subject matter, it is important to give a brief overview of such principles, as detailed further below. Most commonly the Contractors obligations in respect of time for completion of the works are expressly defined [OV1]within the terms of contract, it is yet not uncommon for the extent of such obligations to be described less definitively. While the time for completion will be expressly defined as a fixed date or a fixed period and can be easily identified, it is also essential to for the contract to provide for the mechanism of establishing completion: e.g. commencement date where completion is determined by a fixed period. Where the time for completion is ill-defined to such extent that the contracting parties intentions cannot be established or are non-existent, then the law considers time to be at large [OV2]and implies a requirement to complete the works within reasonable time. The principle of reasonable time under English Law goes back to 19th century[1], where it was established that for if a delay is not attributed to causes within a partys control, nor such party acted negligently, it will be considered that obligations are duly fulfilled. Reasonableness cannot be given a strict definition and is assessed on a case-by-case basis, taking into consideration circumstances prevailing during the period of performance[2]. Some authors on the subject view that both ordinary (e.g. site access, government permits, resource availability, etc.) and extraordinary circumstances (e.g. strikes, client variations, etc) should be taken into consideration when establishing reasonable time[3]. Occasionally, some bespoke contracts may contain time is of the essence terms. In contractual context, it has stricter meaning than its everyday application: i.e. if something isnt done swiftly, it will be too late[OV4].[4] Inclusion of such terms in a contract significantly elevates the rights and obligations to the contract, whereby failure to meet the completion date will be treated as a fundamental breach of the contract[5]. While the contract may be found repudiated, the existence of a time is of the essence provision alone may not be sufficient and qualifying rules should be applied in such circumstances[6]. Another area of significant importance in establishing whether completion date has been adhered to, is the meaning of completion itself. Ordinary meaning of completion[OV5] requires fulfilment of all obligations, which when applied in the context of entire contracts[OV6], may result in harsh consequences. It is extremely rare for construction contracts to be considered in the same manner and courts will generally take a practical view as to what constitutes completion within construction industry[7]. To reflect that position, standard construction contracts have developed various definitions for use in the industry, such as: practical[8] or substantial[9] [OV7]completion, which irrespective of the words used to describe it, are intended to reflect the courts position as summarised by Judge Newey QC[OV8]:[10] In my opinion there is no room for completion as distinct to practical completion. Because a building can seldom if ever be built precisely as required by drawings and specification, the contract realistically refers to practical completion and not completion but they mean the same. Eminent legal writers on this subject[11] concur with this view: Usually it will mean bona fide completion free of known or patent defects so as to enable the owner to enter into occupation. The words practical or substantial in the English standard forms do no more than indicate that trivial defects not affecting beneficial occupancy will not prevent completion (the more so, of course, if the contract provides for a maintenance or defects liability period) [12] Irrespective of exact term used, completion can be summarised as a significant gateway, which signifies: the transfer of risk for the care of the works from the Contractor to the Employer repossession of the site by the Employer the start of the period during which the Contractor will be liable for defects in the works the end of the Contractors liability for late completion release of retention monies from the Employer to the Contractor the end of Contractors obligation to insure the works Understanding of the above has a clear importance in resolving any disputes arising out of delay, extension of time and other time related matters. In addition to an obligation to complete the works by a specific date or within a specific time period, most contracts make specific provision for the contractor to proceed with the work and make progress with due diligence. Understanding of this term may, in first instance, appear to have only a remote connection to the subject matter. However, as shown in the next chapters, it is of significant importance when it comes to establishing the contractors responsibility when the time of completion is set at large. The courts have held that the assessment of what constitutes diligence must be based on the surrounding circumstances of each case. For example, per Lord Justice Parker[13] what is due diligence and expedition depends, of course, on the object which is sought to be achieved, who went on to explain the relation between diligence and specific contract object, time scales, complexities, etc. Similarly, in the separate Court of Appeal case of West Faulkener Associates v London Borough of Newham (1994)[14] the court found that literal interpretation, commercial logic and common sense required the contractor to proceed both regularly and diligently.[15] In the absence of an explicit due diligence obligation within a contract, some authors consider that common law implies such a term on the grounds of business effic[OV9]acy[16]. [1] Lord Watson in Hick v Raymond and Reid [1893] AC 22 [2] British Steel Corporation v Cleveland Bridge and Engineering Co. Ltd [1984] 1 All ER [3] I.N.nDuncan- Wallace in Hudsons Bilding and EngineeringÂÂ   Contracts, 11th Edn., 1995, Sweet Maxwell Ltd, p.119 [4] Oxford Dictionary of English 2nd edn., 2008, Oxford University Press [5] Carr v J.A. Berriman Pty. Ltd. [1953] ALJ 273 High Court of Australia [6] United Scientific Holdings Ltd. v Burnley Council [1977] 2 WLR 806 [7] E.g. Emson Eastern Ltd v EME Developments Ltd [1991] 55BLR 114 [8] JCT [9] ICE [10] Emson Eastern Ltd v EME Developments Ltd [1991] 55BLR 114 [11] For example B. Eggleston in Liquidated Damages and Extensions of Time, 3rd edition, 2009,ÂÂ   Wiley-Blackwell, and I.N. Duncan-Wallace in Hudsons Building and Engineering Contracts, 11th edn., 1995, Sweet Maxwell Ltd. [12] I.N. Duncan-Wallace in Hudsons Building and Engineering Contracts, 11th edn., 1995, Sweet Maxwell Ltd. p1109 [13] Greater London Council v The Cleveland Bridge Engineering Co. Ltd [1986] 34 BLR 50 [14] West Faulkener Associates v London Borough of Newham [1994] 71 BLR 1 [15] B. Eggleston in Liquidated Damages and Extensions of Time, 3rd edition, 2009, Wiley-Blackwell, p 24 [16] I.N. Duncan-Wallace in Hudsons Building and Engineering Contracts, 11th edn., 1995, Sweet Maxwell Ltd., p1125 [OV1]Insert ref. to one of the standard contracts [OV2]Insert ref. [OV3]Could expand slightly to beef up [OV4]Check later ed. Of the dictionary. Also check single or double parentheses throughout [OV5]Insert ref [OV6]Ref. [OV7]Full ref. [OV8]Pp location [OV9]Link to the next chapter?

All too often children are labeled as slow or stupid; they are put :: Economics

All too often children are labeled as slow or stupid; they are put aside into special classes for the slower kids and looked down upon by the smarter kids. All too often children are labeled as slow or stupid; they are put aside into special classes for the slower kids and looked down upon by the smarter kids. Teachers and parents look at them in disappointment for the great potential they once saw in their child’s eyes has gone to waste. Many teens that now believe that their stupidity is a truth were once as young children, praised for their quick learning and brightness. There must be an explanation for this. The explanation for me along with many other kids is the learning disorder called dyslexia. I would like to give them a combination of the next to definitions. â€Å"A complex neurological condition, the symptoms may effect many areas of learning and function and may be described as a difficulty in reading, spelling and written language† (Reid 2), as defined by The British Dyslexia Association in 1997. This is a common definition of dyslexia. The other definition of dyslexia is â€Å" an inherited neurological difference, resulting in language, perception, processing, and attention concentration deference’s† (Dyslexia Research Institute 1). Dyslexia is a serious disorder that effects an â€Å"estimated 5 percent to 15 percent of children† (UniSci 1). This number is extremely high; yet many do not know the effects that dyslexia has on the learning process and the emotional development of children, or understands what dyslexia even is. It has been found through research that dyslexia is a disorder occurring in the brain. On the UniSci WebPages, it was stated that â€Å"an issue of the American Journal of Neuroradiology provided evidence that dyslexia is indeed a brain-based disorder† (1). Many tests and researches have been done to prove and also further the discovery of how the dyslexic brain works so that we may better understand it. Researchers at the University of Washington found that â€Å"dyslexics were using 4.6 times as much area of the brain or five times the brain area to do the same language task as the other kids who were not dyslexic† (UniSci 1). That translated means that â€Å"the dyslexic’s brain works much harder and uses much more energy than that of a normal person† (UniSci 1). Also, the researchers found that the â€Å"difference between the dyslexic person and a normal person relates to auditory language and not to nonlinguistic auditory function† (UniSci 1). This was shown through a study using six dyslexic boys and seven normal boys. â€Å"All of the boys were fitted with earphones and asked to perform four tasks while their

Irony In Nathan The Wise Essay

Nathan the Wise is a call for reexamination among those who consider themselves as having the monopoly on truth while the rest of the world are supposedly living their lives based on false creeds. The misunderstanding among peoples or nations is rooted in this perception. Gotthold Lessing’s play sought to highlight the innate prejudices of his characters’ religious affiliations and subsequently provided a pithy reminder in the form of an irony. â€Å"Ah! Indeed you do not know how closer I shall cling to you henceforth. We must, we will be friends. Despise my nation. We did not choose a nation for ourselves. Are we our nations? What’s a nation then? Were Jews and Christians such, e’er they were men? And have I found in thee one more, to whom It is enough to be a man? (Lessing)† This was Nathan’s response to The Templar on the latter’s perception of Jews. The irony is on the second to the last sentence which implores humanity to be humane or kind to others regardless of what one believed in. Lessing is contrasting people living their lives based on religions and men who are humane kind to their fellowmen. The irony is in our supposition that our beliefs save us, guide our conduct, and teach us to be human. Yet the same precepts tend to make us biased and often cruel to those outside our fold. Indeed everyone is certain that his belief is the truth among many â€Å"lies†. Sometimes it’s this self-righteousness that makes us unjust. A paradox as pointed out by Lessing. It is ironic that a play written more than two centuries still holds true today. IRONY IN TARTUFFE Moliere parodied religiosity through his play, Tartuffe. Moliere created a very witty play of witless characters-with the exception of the servant girl, Dorine and Cleante. The irreverence of the play could explain away its banning during its time. Hypocrisy is personified by Tartuffe as credulity is personified by Orgon. There are gems of literary passages in the play that demonstrate irony. One particular instance was the interjection of Dorine to Orgon who was convincing his surprised mother about Tartuffe’s masquerade. This passage in Act V, Scene V is worth considering: â€Å"You are quite wrong, you have no right to blame him; This action only proves his good intentions. Love for his neighbour makes his virtue perfect; And knowing money is a root of evil, In Christian charity, he’d take away Whatever things may hinder your salvation. † Orgon and his family are about to be evicted from their own home by the unscrupulous Tartuffe when this particular dialogue was uttered. He was already at a loss of how Tartuffe could have done this to him. The irrepressible Dorine could not resist jabbing him verbally. To be deprived of one’s property is to be given the chance to be eternally saved since the thing that causes sin is taken away from you. The person robbing you then is in fact doing you a favor and the robbery itself is a result of good intentions. This may be a tongue-in-cheek line but the irony is apparent in the situation where the quest for religiosity has led almost to Orgon’s total material depravity. IRONY IN THE PRINCESS OF CLEVES â€Å"If any other motives than honour and virtue were necessary to induce you to persist in that character you have hitherto worthily sustained; I would tell you, that a reverse of conduct will disturb my happiness in a better world. But should (which Heaven forbid! ) this heavy misfortune be inevitable, I shall welcome death with joy, since it prevents my being witness to your disgrace (Lafayette). † These last words in the deathbed of Madame de Chartres were part of a warning to her daughter of the pitfalls of falling in love while married. Rather than prevent the Princess of Cleves falling in love, it further arouses in her the need to experience what is romantic and for her which obviously she has not found from the Prince of Cleves. Aside from this irony of a warning prodding one to fall into the pit of forbidden love, Madame de Chartres or Madame Lafayette treated us with verbal irony in the last two sentences. She indicated that if the Princess will stray from the marriage path, she will be unhappy. Still she added she might be happy in death since it will prevent her from witnessing that which would bring disgrace to her daughter. This strong admonition is quite consistent with how society looks upon extramarital dalliances. The Princess was only guilty of mental infidelity. Ironically, it was not only her who suffered but her mother, who died of a broken heart, perhaps from a daughter who ignored her; husband, who died of jealousy; the Duc Nemours who suffered emotionally; and finally the Princess herself who entered a convent. The deathbed warning is ironically not helping the Princess. It destroyed everybody. Bibliography Lessing, G. E. (n. d. ). Nathan the Wise. Retrieved March 14, 2009, from PDF Books: www. pdfbooks. co. za Moliere, Jean-Baptiste Poquelin. The Project Gutenberg EBook Tartuffe. Project Gutenberg, October 26, 2008 (Posting Date). Lafayette, M. The Princess of Cleves. London: J. WILKIE, No. 71, St. PAUL’S.

Relocation Centers During World War II essays

Relocation Centers During World War II essays During 1942, the United States government placed over 100,000 persons of Japanese birth or ancestry from their homes on the Pacific coast to poorly constructed relocation centers. I agree with this statement fully, and for many reasons. During this time the United States were heavily involved in World War 2. Their prime enemy was the Japanese. Every person of Japanese birth or ancestry could, and should be considered dangerous. When the Americans removed the 110,000 Japanese Americans from their homes in 1942, they were only trying to be safe and protect the lives of others. This made the American people feel a lot safer during the time of war. Another reason why the United States had the right to do this was because all they were doing was taking them away to a different location. They were not killing them like Hitler was doing in Germany with the Jews; they were only removing them from the communities of the real Americans. Sure, the relocation centers were not the best of places, with their barbed wire and their constant patrolling of the grounds, but still no lives were being taken. When the Japanese first struck Pearl Harbor on December 7, 1941, the Americans were taken totally by surprise. This gave Americans a fear that the Japanese could strike at any time. So why couldn't the Japanese that actually lived in America strike suddenly? There was no way of saying no to that answer. Therefore, the Japanese Americans had to be taken care of, whether they had good intentions or not, the American government had to be safe. It was for the lives of the millions of Americans who lived on the Pacific coast that the Japanese were taken away and relocated. The actual relocation camps that the American government placed the Japanese in were actually not all that bad. The relocation centers were located in Utah, Wyoming, Arizona, and some other Western states. In the centers the Japanese were put to work but not f...

Work life balance Essay Example

Work life balance Essay Example Work life balance Essay Work life balance Essay Today people are engaged in many responsibilities and leisure activities for instance family life and education among others because they are more financially stable. This explains the disparity in the concept of work life balance as perceived by people for instance some require free time from work to do their personal activities for example shopping, laundering and family time. To others their employment should support their requirements to decrease their struggle while others demand stress free employments (Australian Bureau of Statistics 2001).Therefore, factoring this aspects work life balance can be defined as a balance that enables people to attain satisfaction in their multiple tasks in regards to working hours and working conditions. It should also be a two way concept benefiting both the employee and the employer whereby work life and personal life complement each other (Australian Bureau of Statistics 2001). However, the definition of work life balance as perceived by an in dividual is liable to change with time as people gain new responsibilities, commitments and personal interest. Work life balance in an organization is determined by work policies, organizational culture which includes the norms, values and beliefs stipulated in the regulations of the organization, management communication and employment relationship which includes respect and provision of employee’s rights and career advancement through training programs and promotion among others (HBR 2000).Employees perceive work life balance as provision of flexible working hours attained through job sharing and compression of working hours among others to enable them balance between the demands of their employment and those arising from their personal life (Baxter 2000). According to the employers work life balance should help them manage the organizational culture, performance of the organization and implementation of the organizations policies to enable them maintain a good employment r elationship, have the correct quantity and quality of workforce and increase the profit margin of the organization among others (Clavo 2000). Work life balance helps employers to improve the performance of the organization through the increased work output of employees which is done diligently and competently (Clavo 2000).Work life balance helps employees to develop a profound relationship with the organizations utilizing the resources availed to them maximally while still protecting them due to the provision of employee engagement opportunities. Therefore, the business becomes cost effective benefiting the employer even more. For instance in UK it is estimated that about  £3.7 billion and 80 million working days are lost by employers annually because of work stress thus increasing business overhead costs(HBR 2000). In UK for example companies like GlaxoSmithKline, IBM and Lloyd have greatly benefited from work life balance because their improved performance and development can be attributed to the implementation of this concept in the organizational culture (HBR 2000). Therefore, unions and government policies help to avert these conditions and promote implementation of work life balance in businesses (Clavo 2000).Moreover, work life balance has helped employers to meet customer’s demands by changing the flexible schedule of the organization to suit customer’s demands and employee’s needs. For example Bristol City Council extended its operation hours of public libraries to Sunday to meet all the demands of its customers (HBR 2000). Work life balance also presents an advantage to employers in that they are able improve their staffing strategies and thus obtain the best workforce. For instance considering the future of UK a higher percentage of the population will be old in the next ten years to come therefore a there will be an increased demand for young employees who are energetic, motivated and enthusiastic (HBR 2000). On the other han d these graduates will be seeking employment opportunities that are flexible because most will be having elderly people to take care of (HBR 2000).The government perceives work life balance as a tool of fulfilling and implementing their goals and objectives in regards to the improvement of the welfare of population and the economy of UK. Therefore the government, unions and the business culture have formulated policies, principles and regulations in an attempt of promoting the establishment of work life balance in business settings. For instance the European Union aims at increasing the employment opportunities to women to more than 60% by 2010 (HBR 2000).Demanding employments that increase working hours have negative impact on the relationship between families and individuals. Stress resulting from the overload of work is depicted by the communication that ensues within a family setting. Overworked employees also tend to be moody, aggressive and lack the motivation spirit which is replicated into the other family members. The long working hour’s affects the social aspect of the employees therefore cannot spend quality time with their family members such as involvement in leisure activities therefore it becomes difficult for employees to manage their time (Fallon 1997). This deteriorates their efforts and competence because they are always tired and fed up from the workload and stress. Therefore the policies and regulations stipulated by organizations, government and unions play a big part in ensuring work life balance is implemented into UK businesses. For example the government together with unions have established family-friendly employer contests to encourage employers to stimulate work life balance principles into their organizations culture and business plan (Fallon 1997).The relationship between parents and their children greatly drifts a part as parents spend most of their time working because many children demand attention from their parents. C ommunication between the parents and their children is also affected because they are not free with each other (Baxter 2000). The children lack opportunities to seek advice from their parents and in most cases drop them as their role models. In most cases most children became depresses as they perceive their parents to be ignoring and not loving them unconditionally especially when they miss out on important activities such as ceremonies, for example birthdays and important school activities like prize giving days. This explains the increased rate of youth behaviour discrepancy as they become violent, aggressive and indulge into activities such as drug abuse to gain the attention from their parents (Baxter 2000).Most parents end up quitting or losing their jobs in preference to their children. Furthermore the stress that these parents have due to working for long hours makes them to withdraw from their children by being less responsible and caring (Clavo 2000). The government has pl ayed their part by stipulating policies whose mandate demands the adherence of every employer. For instance the Australian government has formulated a fair work bill with the aim of helping employees to manage their time effectively to be financially stable and also spend time with their children. The bill also protects the welfare of the employers by ensuring the performance of the organizations is at its best capability through promotion of work life balance in businesses settings (Gornick ; Meyers 2001).Couple relationships are also not spared from the negative impact of working long hours. Conflicts results especially to couples that have family responsibilities as they seem to withdraw from their responsibilities. This is especially depicted in couples that have pre-school kids as they demand more responsibility, devotion and time from their parents (Galinsky et al. 2001). Stress nosedives their motivation due to increase of mood swing episodes which makes couples to withdraw f rom each other thus spend less time together. This explains the increased divorce cases in the UK courts. The number of couples that visit counsellors to solve problems between them because they are out of their control has also increased. Increase in marital tension and companionship has made many women opt being housewives to eliminate conflicts in their marital relationship (Galinsky et al. 2001).Couples that work for long hours have reduced their sexual pleasures and needs these makes the unaffected partner to result to irresponsible behaviour such as been unfaithful to their partners and alcoholism among others. Unions, government and business have implemented policies and regulations that campaign for the adherence of the employers towards the establishment of a perpetual employment relationship which reduces stress in the lives of employees thus improving the relationship that ensues between couples. Therefore chances of conflict build up are minimal and more time is created to them (Galinsky et al. 2001).The increased need for work life balance due to the increased number of single parents, women in employment, women returning to employment after child birth, divorce cases, juvenile discrepancies, responsibilities and higher demand of social life has improved employment relationships. However, the provision of statutory benefits such as family leave days has deteriorated. Therefore, businesses, the government and unions should aim at creating a balance between the two business principles to further improve business culture which results to the growth of the business and further satisfaction of employees.