John M. Barry and His Use of Rhetorical Strategies

Knowledge, the unwrap to progress, has proven to be a human beings to the highest degree powerful and significant weapon. We gain cogniseledge when we put our brain to die overweight at the problems we need to solve in life. It doesnt matter what we argon trying to accomplish, whether it be creating a rising technology or acquire how to put in concert a puzzle, the matter of fact is that both postulate great examination and question to resolve and learn. Scientific explore is a technique routined to investigate phenomena, correct previous judgement, and acquire new knowledge.Knowledge could lead us to a possible cure for cancer, an option for fossil fuels, and the creation of a revolutionary technology. Nevertheless, all these benefits argon a reason why can M. Barry writes about scientific research with admiration, curiosity, and offense in which he blends a use of rhetorical strategies in direct to give off an overall perspective of the necessity and mystery in spi te of appearance scientific research. Foremost, John M.Barry creates the sense of importance by describing unknown besides highly desired information that all scientists wish to obtain from scientific research, through the strategy of abstract diction where con nonation is implemented at its best. The word wilderness is referred to in the passage various times and its mental lexicon meaning is not whats really being discussed here. The wilderness John is referring to is the place where scientists must begin in every study in order to resolve or prove something. This is a place or in otherwise words a moment where scientists have to feature action and start guessing what is needed to do.The answer is never in the face of the scientist, and before you find it you must know where to look and how to look. Obviously, exploitation the word wilderness creates the idea that the knowledge scientists are looking for is hard and hidden and it is a lucky form of emotional appeal to think of scientific research as secreted in time vital. Following, through a successful form of a logical appeal the author draws an analogy that nurture embodies the obscurity of finding knowledge and the importance of scientific research.The author shoots to compare apples to apples when he puts side by side a shovel to the experiments performed during scientific research. When a successful comparison is given between two subjects it creates an understanding to the reader of what the overall intended purpose is for both. Both subjects compared here are meant to find an answer, or in the case of scientific research, knowledge. However, you must know what correct tool or experiment will find the answer. Its not easy, so a scientist must really put a lot of thought into what must be done and how it must be done to find the information and key data they need.In other words, the author explains how the success towards finding new knowledge is hidden blockheaded within and can only be fo und if we understand stride by step how were going to reach that data. Therefore, when the answer is not in the face of the questioner it takes hard effort to find solely when found its benefits are unmeasured. Preceding, John M. Barry is sure not to exclude the use of an ethical appeal in which he presents a carefully and modify argument to create the strong message that scientific research is pregnant to succeed.In the beginning of the passage, it opens by explaining what certainty and uncertainty is. Then it clarifies what it takes to be a scientist, what a scientist must do, what happens if a scientist succeeds in their work, and why a scientist may fail. The main focus of these points is based on scientific research which proves its importance in his point of view and how it can make or break a scientist. John makes it clear that scientific research is necessary and is not as easy as following step by step. It takes time, dedication, and most of all determination.When someo ne is determined they will do some(prenominal) it takes, especially thinking out of the box, to accomplish their goal. Overall, the essay was presented in a logical and comprehensible way that allowed the reader to understand how essential yet possibly hard it can be to use scientific research. Closing, the writer is successful in making his opinion and perspective towards scientific research through the use of logos, pathos, and ethos. The overall analysis brought me to the conclusion that the John M. Barry face scientific research as the chief ingredient to putting together answers and information. Yet still, doesnt deny the complexity of scientific research and thats its not straightforward as a scientist wishes it could be. Nevertheless, the benefits scientific research has brought along we see them everyday because of our overall advancement as a world. Didnt I say knowledge is our most powerful weapon? head observe, for it has destroyed the slow and premature society humans once utilise to live in and created a beautiful, diverse, and intelligent culture today.

Bite Me: A Love Story Chapter 17

17. Wide A take fire in Sucker-FreeOkata scraped the final stage few drops of inception from the container into the burned-up white girls rima oris. Hed managed to save two of the eight quart containers, further it wasnt divergence to be enough, he could tell, and later on the fight at the only ifcher break and his escape, he knew he wasnt strong enough to give her whatever more(prenominal) of his own blood. Shed need more, and he was pass to ca-ca to start intellection of her as both(prenominal)thing besides the burned-up white girl. She was starting to resemble a conty person straight away(p), more than a person- pulpd cinder. A very old, very alarming dead person, to be sure, nevertheless a person nonetheless. Her deprivation vibrissa nearly everyplacelayed the pillow now, and shed moved, if only a subaltern, closing her m byh after the last drops of blood went in. No ash had flaked away with the movement. Okata was glad. Her subject fangs made him a littl e uneasy, merely now she had lips, sort of.He picked up his sketch pad from the floor, moved to the end of the futon to reveal a different angle, and began drawing her, as hed been doing perpetuallyy hour or so since hed re snatched from the butcher. He was hushed cove rose-cheeked with the blood that had splashed on him during the fight, but it had long since dried and demur for washing his hands so he could work, hed forgotten it. He finished the sketch, then moved to his workbench, where he transferred a refined version of the drawing to a piece of strain topic so thin it was nearly transparent. He would replicate this drawing quadruplet more times, then each would be glued to a wood frustrate and carve away to make the plate for a different line or color.He figureed over his shoulder at her, and felt a diswhitethorn of shame. Yes, she looked uniform a person now, an old, desiccated grandmother, but he shouldnt set out her equivalent that. He took a bowl from the shelf above his little kitchen sink, filled it with warm water, and then knelt by the side of the futon and gently sponged the last patina of ash from her body, revealing the blue-white skin at a lower placen sweep awayh. The skin was smooth, the likes of polished rice paper, but pores and hair follicles were forming as he wiped the ash away.Sorry, he say in English. Then in Japanese he give tongue to, I move over non been mindful, my burned-up gaijin girl. I will do break down.He went to the cabinet under his workbench and removed a cedar box that looked like it capability film been fashioned to hold a set of silverware. He clear the lid and removed the square of white silk, then stood and let the turn fall well-defined to its full length. Yurikos wedding kimono. It smelled of cedar, and perhaps of a arcminute of incense, but merci fully, it didnt smell of her.He laid the kimono out next to the burned-up girl, and ever so slowly, he moved it under her, gently worked he r skeletal blazonry into the sleeves, then shut the robe and tied it loosely with the white obi. He arranged her arms at her sides so they looked comfortable, then picked up a small flake of dried blood that had fallen from his sheath onto her breast. She looked better now. Still wraithlike and monstrous, but better.There you go. Yuriko would be pleased that her kimono helped overwhelm one who had nonhing.He returned to his workbench and began the drawing for the block that would carry the chickenhearted ink for the futon, when he heard movement female genitals him and wheeled around.Well, dont you look yummy, Jody said.TOMMY Tommy spent the early evening in the library, reading The Economist and scientific Ameri nonify. He felt as if all the haggle were bringing him binding from the animal realm to being a merciful being, and there were surge of words in those magazines. He cherished his full powers of speech and human thought before he confronted Jody. He also hoped th at his memory of what had happened would go far bottom with his words, but that didnt tickm to be work. He remembered a red blur of hunger in his head, being thrown through a window and landing on the street, but between that and the time when his words returned in the basement, with the emperor, he could remember very little. It was as if those experiences-hunting, finding trade protection of injusticeness, snaking his way through the City in a cloud of predigital audiotapeors at peace(p) to mist-were filed in a part of his mind that locked as soon as the ability to tack together words to senses returned. He suspected that he may provoke helped Chet kill people, but if that was the case, why had he saved the Emperor?Fortunately, he hadnt baffled the ability to turn to mist, which was how hed obtained the outfit he was vesture now. The whole ensemble-khaki slacks, blue Oxford-cloth shirt, leather jacket, and leather boating moccasins-had been on break in a window at a m ens workshop on Union Square, suspended by monofilament fishing line into the shape of a casual cotton ghost that was haunting other, equally chichi but substanceless marionettes around some deck chairs and artificial sand. Just after the dinner hour, when the store was at its busiest, Tommy streamed in under the door, into the outfit and became solid. With a quick crouch, he snapped all the monofilament line and walked out of the store fully dolled up, bits of fishing line curling in his wake. It would, he thought, get hold of been the smoothest, more or less audaciously cool thing he had ever done, if it hadnt been for the straight pins that had fastened the shirt to the slacks. merely after a minor fit on the sidewalk as he yanked the pins out of his back, hips, and abdomen, period rhythmically chanting, Ouch, ouch, ouch, ouch, he returned to the calm and casual cotton-clad vampire aspect hed been going for. He waited until he was at the library, in the stacks, before he pulled the piece of cardboard out of his collar and yanked off various tags and threads. Fortunately, there had been no anti-theft tags on the reveal outfit.Now he was ready, or as ready as he was going to get. He had to go to Jody now, hold her, tell her he make do her, kiss her, shag her until all the furniture was broken and the neighbors complained (undead predator or not, he was still nineteen and horny), then figure out what they were going to do about their future.As he walked back through the Tenderloin, dressed in his please rob me white boy outfit, a high-strung crackhead in a hoody that had once been green, but now was so dreary it was shiny, tried to rob him with a screwdriver.Give me your currency, bitch.Thats a screwdriver, Tommy said.Yeah. Give me your money or Ill stab you with it.Tommy could hear the tweakers heart fluttering, smell the acrid malodour of rotting teeth, body odor, and urine on him, and could see an unhealthy, dark color aura around him. His pr edator mind flashed the word prey.Tommy shrugged. Im wearing a leather jacket. Youll never get a screwdriver through it.You dont know that. Ill get a running start. Give me your money.I dont strike whatsoever money. Youre sick. You should go to the hospital.Thats it, bitch The crackhead thrust the screwdriver at Tommys stomach.Tommy stepped aside. The tweakers movements seemed almost comically slow. As the screwdriver went by, Tommy refractory it dexterityiness be best if he took it, and he snatched it away. The robber lost his balance and tumbled forward into the street and lay there.With the flick of his wrist, Tommy threw the screwdriver onto the roof of a four-story building across the street. Two guys who had been standing in an alley a few feet away, thinking about taking the robbery over from the crackhead, or at least robbing him if he was successful, decided they would rather go see what was happening on the next block.Tommy was a half a block away when he heard the un even, limping foot go of the crackhead advent up behind him. He turned and the crackhead stopped.Give me your money, said the tweaker.Stop robbing me, said Tommy. You dont have a weapon and I dont have any money. Its totally not working for you.Okay, give me a dollar, said the crackhead.Still dont have any money, Tommy said, turning his pants pockets inside out. A note from inspector 18 fluttered to the sidewalk. He heard movement above-claws on stone-and cringed. Uh-oh.Fifty cents, said the crackhead. He put his hand in the pouch pocket of his hoody and pointed his finger like it was a gun. Ill shoot.You have got to be the worst armed robber ever.The crackhead pa employ for a second and pulled his gun-posed hand out of his pocket. I have my G.E.D.Tommy shook his head. He thought hed left the cats behind, but the felines either still had some fraternity to him, or there were so many of them now that there was nowhere in the City you could go where they wouldnt be hunting. He didnt relish nerve-racking to explain the whole phenomenon to Jody. Whats your name? he said to the crackhead.Im not recounting you. You could turn me in.Okay, Tommy said. Ill call you Bob. Bob, have you ever seen a cat do that? Tommy pointed up.The crackhead looked up the side of the building to see a dozen cats coming down the bricks, face-down, toward him.No. Okay, Im not robbing you anymore, said the tweaker, his attention taken by the clutter of vampire cats descending on him. Have a puritanical evening.Sorry, said Tommy, meaning it. He turned and jogged up the street to put some distance between himself and the screaming, which only lasted a few seconds. He looked back to see the crackhead gone. Well, not really gone, but reduced to a pile of gray powder amidst his empty clothing.Its how he would have wanted to go, Tommy said to himself.He would have thought the cats would go for the two in the alley, but now they were taking the people in good order out on the open street. He was going to have to get Jody and talk her into going the City, like they should have in the prototypical place.He jogged the twelve blocks to the loft, detailed not to run so fast that he might be noticed. He tried to look like a guy who was skillful late getting home to his girlfriend, which, in a way, he was. He waited outside the door for a moment before pushing the doorbell. What was he going to say? What if she didnt want to see him? He didnt have any experience to draw on. Shed been the first girl hed had sex with while sober. She was the first girl hed ever lived with. She was the first to take a shower with him, to sup his blood, to turn him into a vampire, and to throw him broken and naked through a second-story window. She was his first love, really. What if she sent him away?He listened, looked at the plywood still over the windows, sniffed the air. He could hear people inside, at least two, but they werent talking. There were machines running, lights buzzing, the smell of blood and rat whiz wafting under the door. It really would have felt better if there were romance in the air, but, well, okay.He ran his fingers through his hair, snatched away the last strands of fishing line trailing from his dress like errant crystallisation pubes, and pushed the button.FOO Foo had just placed the vials of Abbys blood in the centrifuge when the buzzer on the intercom went off. He flipped the switch, then looked over at Abby, lying on the bed. She looked so peaceful, undead and drugged and not talking. just about happy, despite having a tail. But the police wouldnt understand. He ran into the living agency and shook Jared out of the game-induced trance he had entered on his game console. Foo could hear the death-metal sound track coming from Jareds headphones, tinny screeching and tiny chainsaw rhythms, like angry chipmunks humping a kazoo inside a sealed mayo jar.Whaaa? said Jared, yanking out his earbuds.Someones at the door, whispered Foo. Hide A bby.Hide her? Where? The water closet is full of medical crap.Between the mattress and the box springs. Shes skinny. You can mash her in there.How will she breathe?She doesnt need to breathe.Sweet.Jared went for the bedroom, Foo for the intercom.Who is it? he said, keying the button. He really should have installed a camera. They were easy to wire and he got a discount at Stereo World. Stupid.Let me in, Steve. Its Tommy.Foo thought for a second he might pee a little. He hadnt finished building the high-intensity UV laser, and Abby hadnt gaunt her sun jacket. He was defenseless.I can see why you might be mad, said Foo, but it was Abbys idea. I wanted to turn you back to human, like you wanted. Oh fuck, oh fuck, oh fuck. Tommy was going to kill him. It would be humiliating. The guy didnt even have an undergrad degree. He was going to be murdered by an undead Anglo liberal-arts tard who quoted poetry.The buzzer went off again. Foo jumped and keyed the intercom.I didnt want to do it. I told her it was condemnable to put you guys in there.Im not mad, Steve. I need to see Jody.Shes not here.I dont believe you. Let me in.I cant, I have things to do. scientific things that you wouldnt understand. You have to go away. Okay, now he was a tard.I can come in, Steve, under the door or through the cracks around the windows, but when I go back to solid, Ill be naked. Nobody wants that.You dont know how to do that.I learned.Oh, thats cool, said Foo. Oh shit, oh shit, oh shit. Could he get the door shut and groove tape before Tommy could ooze in. The great room was already taped up to contain the rat fog.Buzz me in, Foo. I have to see Jody and I have to banquet. You still have some of those blood pouches, right?Nope. Sorry, were all out. And Jodys not here. And weve installed sunlamps all over the loft, Tommy. Youd be toast. He did have some blood bags. In fact, he still had some of the ones with the tranquilising in it that hed used to knock Abby out.Steve, please, Im h ungry and hurt and Ive been living in a basement with a bunch of vampire cats and if I turn to mist my new outfit is going to get stolen while Im up there snapping your neck with my junk hanging out.Foo was trying to think of a better bluff when a dark sleeve childs play by him and he heard the door lock buzz downstairs. He looked up at Jared. What the fuck have you done?Hi, Tommy said in Foos ear.He sounded so sad, Jared said.THE OLD ONES At sundown the three awoke inside a titanium vault under the main cabin and checked the monitors that were equip like a nervous system to every extremity of the moody ship.Clear, said the male. He was tall and ash-blonde and hed been lean in life, so he remained so, would remain so, forever. He wore a colour silk kimono.The two females cranked open the hatch and climbed out into what appeared to be a walk-in refrigerator. The male closed the hatch, pushed a button concealed behind a shelf, and a stainless-steel gameboard slid across the hatc h. They walked out of the fridge, into the empty galley.I hate this, said the African female. She had been Ethiopian in life, descended from royalty, with a high forehead and wide eye that slanted like a cats. It was to this face that Solomon lost his heart, Elijah had told her, holding her face in his hands as she died. And so he called her Makeda, after the fabled Queen of Sheba. She didnt remember her real name, for she had worn it for only eighteen age, and she had been Makeda for septenary centuries.Its different, said the other female, a dark-haired beauty who had been born on the island of Corsica a hundred years before Napoleon. Her name had been Isabella. Elijah had always called her Belladonna. She answered to Bella.Its not that different, said Makeda, leading the way up a flight of steps to the cockpit. It seems like we just did this. We just did this-when?A hundred and fifty years ago. Macao, said the male. His name was Rolf, and he was the middle child, the peace-maker , turned by Elijah in the time of Martin Luther.See what I mean, said Makeda. All we do is traverse around cleaning up his messes. If he does this again Im going to have the boy drag him out onto the deck during the day and video it while he burns. Ill watch it every wickedness on the big test in the dining room and laugh. Ha Although the oldest, Makeda was the brat.And what if we die with the sire? asked Rolf. What if you wake up in the vault on fire? He palmed a black glass console and a panel whooshed open in the bulkhead. The cockpit, big enough to host a party for thirty, was lined in curving mahogany, stainless steel, and black glass. The stern half was open to the night sky. But for the ships wheel, it looked like an enormous Art Deco casket designed for home travel.Ive died before, said Makeda. Its not that bad.You dont remember, said Bella.Maybe not. But I dont like this. I hate cats. Shouldnt we have people for this?We had people, said Rolf. You ate them.Fine, said Make da. Give me my suit.Rolf touched the glass console again and a bulkhead undefendable to reveal a cabinet filled with tactical gear. Makeda pulled three black bodysuits from the cabinet and handed one each to Rolf and Bella. Then she slid out of her red silk gown and stretched, naked, her arms wide like Winged Victory, her head back, fangs pointed at the skylight.Speaking of people, said Bella. Wheres the boy? Im hungry.He was feeding Elijah when we awoke, said Rolf. Hell be along.Elijah was kept below in a vault similar to their own, except the prime vampires vault was airtight, locked from the outside, and was fitted with an airlock system so the boy could feed him.Irie, me undead dreadies, said the pseudo-Hawaiian as he came up the steps, barefoot and shirtless, carrying a tray of crystal balloon goblets. Capn Kona bringin ya the jammin grinds, yeah?The vampires each spoke a dozen languages but none of them had the slightest idea what the fuck Kona was talking about.When he saw M akeda stretching, the blond Rastafarian stopped and nearly dumped the goblets off the tray. Oh, Jahs sweet love sistah, dat smoky biscuit givin me da rippin stiffy like dis fellah need to poke squid with that silver sistah on de Rolls-Royce, dont you know?Makeda fell out of her Nike posture and looked at Rolf. Huh?I think he said he would enjoy violating you like a hood ornament, said Rolf, taking a snifter from the tray and swirling dark liquid under his nose. Tuna?Just caught, bruddah, said Kona, having trouble now balancing the tray while trying to hunch to conceal the erection dwell his baggies.Bella took her snifter from the tray and grinned as she turned to look out the windscreen at the City. The Transamerica Pyramid was lit up in front of them, Coit Tower just to the right, jutting from Telegraph Hill like a great concrete phallus.Makeda took a slinky step toward Kona, Should I let him rub oil on me, Rolf? Do I look ashy?Just dont eat him, Rolf said. He sat in one of the ca ptains chairs, loosened the belt of his black kimono, and began working the Kevlar bodysuit over his feet.Quaint, said Makeda. She took another step toward Kona, held her bodysuit before her, then dropped it. In an instant she had gone to mist and streamed into the suit, which filled as if a girl-shaped parking brake raft had been deployed inside. She snatched the last goblet out of the air as Kona flinched and dumped the tray.will you oil me up later, Kona? Makeda said, standing over the surfer now as he cowered.Nah need, matey, you shinin plenny fine. But dat other ting bein a imp fo sure. He held his hand to his chest and ventured a glance up at her. Please.Its your turn, said Bella with a smile, her lips rouged with tuna blood.Oh, all right, said Makeda. But use a glass.Kona reached into the pocket of his baggies and came out with a shot glass, which he held with both hands before his head like a Buddhist monk receiving alms.She pushed her thumb against one of her fangs, then let the blood dribble into Konas shot glass. Ten drops in, she pulled her thumb away and licked it. Thats all you get.Oh, mahalo, sistah. Jahs love on ya. He drained the blood then licked the shot glass clean, as Makeda watched and sipped her tuna blood. After a full minute, with the alternate Hawaiian still lapping away at the glass, his breath panting like he was hoisting the anchor by hand, she took the shot glass and held it away from him. Youre done.Bug eater, Bella said, disgusted. Now she was in her own bodysuit and had drained her goblet of blood.Oh, I think hes cute, said Makeda. I may let him oil me up yet. She ruffled Konas dreadlocks. He was staring blankly into space, his mouth open, drooling.Just dont eat him, Rolf said.Stop saying that. I wont eat him, said Makeda.Hes a authorise captain. We need him.All right. Im not going to eat him.Bella walked over, yanked a dreadlock from Konas head, and used it to tie back her own, waist-length black hair. The surfer didnt f linch. Bug eater, she repeated.Rolf was back at the cabinet, snapping together various bits of weaponry. We should go. Grab a hood, gloves to go with the sunglasses. Elijah said they had some sort of sunlight weapons.This is different, said Bella, gathering all the high-tech kit from the weapons cabinet, as well as a long overcoat to cover it all. We didnt have all this in Macao.As long as youre not bored, darling, said Rolf.I hate cats, said Makeda as she pulled on her gloves.

Patriotic reverence for the history Essay

Patriotic reverence for the history of a nation often does more than to impede than toencourage keep History continuously brings with itself lots of experience. People perpetually learn from their past. Butis relying on the history nation the right wing path to progress? Does our past always teach us theright lessons? What we do today go out be past someday. Does that mean we will always end updoing right if we follow our history. The answer is no. Showing high patriotic reverencecannot always be the right path for a nations progress.Relying on history for our current needs would be nothing more than intuition. The situationwe take a leak at our hands can be very different from that undergo in the past. The acquirethen becomes to handle it with new ways and techniques. For example maintaining peace inthe domain today is the most important factor for any countrys progress. If we look at history,nations earlier had a tendency to acquire and batter as much as they can. The Ger mans inthe World War II killed millions of hoi polloi in their neighboring countries in thirst of more andmore power.The piece has witnessed more wars that have hampered progress. Thus theneed of the hour for all nations is to sit down and talk. Nations at once need to have a friendlyattitude towards each other for maintaining progress. Nations have subscribe peace treaties,which includes the nuclear proliferation treaties. The nations have now started thinking of progress on a global prospective. The economic progress of a nation peculiarly developing countries has also been verydifferent from the past.The trends and graphs are very different from that in the past. Thecorporate world has been developing and expanding exponentially. The economic market isnow governed by new rules with no excerpts from the past. So, the demand of the hour cannot be met by completely relying on the past. But simply learningfrom our experiences. If we refer to our past, we need to draw proper ana logies between thetwo time song situations. But this can be a very difficult parturiency as the scenario and theessence of things for todays world are completely different.

FASB Accounting Standards Codification Essay

This atom deals with certain general background considerations and information related to the FASC and the answers can be found by clicking the About the Codification and Notice to Constituents functions on the FASC receive Page. This section is a good general source of information intimately the FASC and should be reviewed prior to starting to answer the specific questions set forwards in all sections. The related research questions that you must answer ar (a) When did the FASC Codification become effective?It was released on July 1, 2009 and became effective for Interim and yearly periods ending after September 15, 2009.(b) Did the FASC change prior GAAP?No it didnt change, it only got restructured.(c) What does the FASB expect from the tender FASC structure and system?The governance is expected to reduce the amount of time and effort that is used to drub an accounting research issue.(d) What ar the topics used in the ASC?The General PrinciplesThe foundingThe AssetsLiabi litiesEquityRevenueExpenseBroad TransactionsIndustry(e) argon Securities and Exchange Commission (SEC) references included in theASC?Yes It is.2. Transfer of Receivables FASC 860-10As the new staff person in your companys treasury department, you fall in been asked to conduct research related to a proposed transfer of receivables. Your supervisor wants the despotic sources for the obeying items that are discussed in the securitization agreement.Access the FASB Codification at http//asc.fasb.org/ substructure to conduct research using the Codification Research System to position responses to the following items. propose Codification references for your responses.(a) Identify relevant Codification section that addresses transfers of receivables. 860-10-05(b) Provide definitions for the following(i) Transfertransference of a noncash financial summation by and to someone other than the issuer of that financial asset (ii) Recourse uncollectableWhen the transferor of receivables re tains the luck of uncollectability. (iii) CollateralAssets that a borrower pledges as security for a loan, which the financier seizes if the borrower seizes to succumb(c) Provide other examples (besides recourse and collateral) that qualify as continuing involvement.3. Inventories FASC 330-10Jones Co. is in a technology-intensive industry. Recently, one of its competitors introduced a new product with technology that tycoon render obsolete some of Joness inventory. The accounting staff wants to follow the appropriate authoritative literature in determining the accounting for this large market event.Access the FASB Codification at http//asc.fasb.org/home to conduct research using the Codification Research System to prepare responses to the following items. Provide Codification references for your responses.(a) Identify the primary authoritative guidance for the accounting for inventories. accountancy Research Bulletins (ARB) No.43 Chapter 4.(b) List three types of goods that are classified as inventory.Goods awaiting barter (finished goods)Goods in the course of production (work in process),Goods to used directly or indirectly in production (raw materials and supplies)What characteristic will automatically uprise an item from being classified as inventory?Long-term assets that are subject to depreciation accounting Goods which, when put into use, will be so classified as depreciable Assets(c) Define market as used in the phrase lower-of-cost-or-market. market means current replacement cost (by grease ones palms or by reproduction) provided that it meet the two conditions 1.Market shall not exceed the last(a) achievable value2.Market shall not be less than net realizable value reduced by an allowance for an approximately normal gain ground margin

Marketing and Soft Drink Concentrate Essay

The carrymark Rasna is owned by Pioma Industries that introduced the concept of Soft throw quash (SDC), a segment that had been created and nurtured by the go with in the Indian deglutitions Market. The mug was originally launched by the recognise of Jaffe in 1976 and marted with the help of Voltas, moreover was renamed to Rasna in 1979. When the crop did non do as well as it was expected, in 1983, the advertising was handed oer to an advertising agency named Mudra Communications Ltd. Pioma Industries Limited is perhaps not a familiar name for the average Indian consumer.But Piomas brand Rasna is very well known. In fact, the name Rasna is almost a generic name for soft drink revolve rounds in Indian beverages securities industry placeplace. Rasnas extremely popular advertisements with the tagline I love you Rasna had become an integral part of the Indian advertising folklore. In March, 2002, Pioma announced a radical everywhitherhauling of its strategies for the R asna note. This development was quite an unexpected, as the brand had been lying dormant since long. Rasna is the market puller in the 250 Crore Indian soft drink dis coin bank industry. The SDC industry is miniscule comp atomic number 18d to the 5000 crore change soft drink industry (CSD).The powdered soft drink concentrate industry is worth around 90 crore. During the 80s, Soft fuddle Concentrate (SDC) was not a known concept. For the consumers, Soft Drinks were just the aerated drinks which could be purchased in bottles and were usually consumed outdoors. Rasna came, and changed the whole mind set. COMPETITORS IN THE MARKET As the pi matchlessnessers in Concentrated Soft Drink Industry in India, Rasna, neer had to face any threatening from any of its antagonists, be it a world(prenominal) player or a small local social club.Powder concentrate occupy 85% of the total soft drinks concentrate market. Here, in this study, we argon considering both Powder and Syrup CSD as competition for the Brand Rasna. side by side(p) be nigh of the competitors who tested to shoot their mark in the 250 Crore Indian soft drink concentrate industry 1. feeling- Kraft Foods. 2. Sunfill- coca Cola. 3. Fanta frolic Times- Coca Cola. 4. Sugarfree Dlite- Zydus Cadila. 5. Kissan Mr Fruit- Hindustan Unilever. The journey of a brand is not always easy. The market is very dynamic and a brand of necessity to harbour a track of the changes in the market. Rasna had to face such gainsays too.But it is the resurrection this brand has shown, by strategic merchandising, in all instances that conducts it stand out and lead the market. MARKET SHARE Rasna has always been recognised at too large for Brand and Company. It ranks No. 1 in the beverages category as Most rely Brand of India. It is listed among the top 15 brands in the area. It was awarded as the most prefer brand in the SDC category at the FMCG Most Preferred Awards 2003 and 2004 and Consumer knowledge domain Award 2004. It has pioneered not only with its operose merchandising strategies but excessively with its proper scaled dispersion chain.Rasna has always concentrated on its market and brand building and has achieved an expertise in flavour technology. Its efficient watchfulness in increaseion and market environments has harnessed to bring to the global consumers, technologically superior products in fruits, vegetables, beverages and confectioneries and to stand as the leader in urbane food industry. Rasna has adequate and in-depth knowledge and information on Market sizes and behaviours, ontogeny prospects, Project Viabilities, Government Policies, Finances etc.and access to more, enabling the company to respond fast to any proposal with suitable recommendation.It believes that there is a capacious and emerging market for Rasnas kind of product range, all over the world. Rasna is capable of managing global sized manufacturing set-ups working on the most pass on technologi es to cater to the huge markets, locally and globally. Rasna has managed to dominate the colossal SDC market beca procedure of its massive International operations. One of Rasnas biggest strength is its marketing and bargains set-up, through which millions of customers worldwide is experiencing the flavour of satisfaction.It provides a strong and pro-active marketing support to its distributors and importers around the world- just so that their products stand out and apart on the shelves. beatly delivery schedules of its products anywhere in the world are what harbor helped them to stove a strong position in the global market. Rasna has its offices in the following countries * USA and Canada * UK and Europe * Saudi Arabia * Russia * Fiji This strong chain of distribution to large number of countries within a stipulated period of time has helped the brand cook a reputation in the market.It has also helped Rasna in creating enormous job relations all over the globe. The countr ies which imports Rasna products globally are as low In recent years, the brand has had to face off challenges, though not from its direct competitors. International soft drink giants like Coca-Cola (Sunfill) and Kraft Foods (Tang) curb introduced competitor products in the market. PepsiCo India too is gearing to launch a glucose-based touch on-to-drink beverage under the Lehar brand that go forth be sold at harm point of Rs. 5 for a 200 ml stock-keeping unit.All of them have deep marketing pockets and standard products to lure customers away from Rasna. Even the compose of Rasnas scrape audience is changing. Kids today are a plenty more aware, and their parents dont mind buying more dear(predicate) ready-to-drink products, which the MNCs have. But, true to its entrepreneurial spirit, Rasna is not about to constitute any priming to its rivals. Though some analysts feel that Rasna has been slow to react to the competition, Piruz Khambatta, Chairman, Rasna, still dismisses the challenge saying water is our only competition. According to the 2010 data, Rasna leads the SDC market.The market shares of Rasna and all the competitors are as follows * Rasna- 97. 2 % * Coca-Colas Sunfill 2% * Sugarfree Dlite- 0. 2% * Kissan Mr Fruit- 0. 1% and * Tang- 0. 5%. COMPARTIVE STUDY ON 4 Ps SCALE The market Mix Here in this study of the Brand Rasna, we are evokevas the brand with its competitors available in the market on the scale of the 4 Ps. The 4 Ps of the marketing mix are 1. crossroad. 2. pry. 3. Promotion. 4. Place. Product b put of Rasna Rasna began with 9 flavours in 1982, and added the 10th in the year 1987. The company was revamped in the year 2002.* In 2002, Rasna changed its look and came up with a advanced logo. * The tagline of the company was also changed and with a new tagline Relish a Gain, Rasna has tried a deep penetration in the homespun and semi-urban market. The recent product line of Rasna is as follows Name Pack Size Flavour expen se () Rasna Frootfun 32 furnish Orange, Mango, Lemon, Pinaple 35 Rasna Frootfun 12 chalk in Orange, Mango, Lemon 10 Rasna Freshfun 32 glasses Shahi Gulab, Keshar Elaichi, Kool Khus, Cola Cola 35 Rasna Freshfun 12 glasses Shahi Gulab, Cola Cola 10 Rasna 1 ka 2 2 glasses Orange, Mango, Lemon 1.Rasna FrootPlus Jar 500 grams Orange, Mango, Lemon 85 Rasna FrootPlus scoop 750 grams Orange, Mango, Lemon one hundred five Rasna FrootPlus Pouch 500 grams Orange, Mango, Lemon 75 packing Details The operating product line of Rasna consists several sku. The company follows antithetic pack size on carton basis. These pack sizes may part depending on local market demand. The following table will give a general idea of the pack sizes. Sr. No. Product Units per Carton 1 Rasna Instant Drink (powder beverages) Laminate Pouch Packings A 3 gm pouch pack 50*60.B angiotensin-converting enzyme Serve pouch pack (12 gm pouch-orange) 10*12*6 C 25 gm single serve sachet 12*2*12 D 250 gn refill pa cks 36 E 500 gm refill packs 24 F 750 gm standby refill packs 15 G 1 kg standby refill pack 15 H Litro packs 1 ltr 12*10 Glass Jar Packings A 250 gm glass fluff up 40 B 500 gm glass jar 20 C 750 gm sleek glass jar 15 Plastic jar packing 1 kg 15 OTS tin Packing 900 gm tin 15 1. 5 kg tin 6 2. 5 kg tin 6 2 Litro Pack Instant Drink Pouch suitable to make 1 litre 12*10 3 Gofrut Instant Drink (5gm pouch) 72*10 4 Shakeup Instant Drink . 25 gm single serve pack 24*30 one hundred fifty gm standby pouch 108 5 Rasna Lite 250 gm jar 15 6 Rasna Soft Drink Concentrate 32 glass pack 200 7 Rasna Single Serve Iced Tea 9 gm 14*24*20 Whereas Rasna has so many antithetic varieties of drinks (flavours) and in so many different sized packets its competitors are absent behind in both flavours and availability of different total packs. The Price of Rasna Accessing all socio-economic class Rasnas sole goal has been always to make profit with the volume sale. The pricing strategy has alw ays been the bring up of Rasnas success.It targeted the mass rather than the class. * Rasna has always made its products in such a way that it shadower be accessible to all socio-economic classes. * Its volume sale starts at as low as 1 popular in the name of 1 ka 2. * The added sugar product Rasna Frootplus starts from 2 and goes up to 105 for the family pack. * The box pack has a starting hurt of 10 which fecal matter make 12 glasses of drink and is known popularly as 10 ka 12. * The family box pack is available at 35 which is overflowing for 32 glasses of water. * Rasna has some skus which are very interesting for unremitting use.The air tight jar has different pack size with set range starting from Rs. 75. The company is constantly focussing on the rural market of India. So, accurate pricing is very important for the companys growth. For Rasna, accurate pricing has been the key growth driver. They understood that the Indian market is highly segmented. And making products targeting each segment has helped a lot. Whereas pricing has been the key growth factor for Rasna, the competitors have not been able to enjoy that receipts of pricing. Only Tang is available at a sachet of 2 which is again meant for making 1 glass of drink.Likewise, the other competitors toilettenot even come snug to the pricing strategy of Rasna. Promotion Adding an Emotional Touch Rasna has from its inception relied severely on advertisement. The famous mass media campaign, I love you Rasna was one of Indias longest running TV ad. * The promotion of Rasna always highlighted a strong connection with its customers through brand association. * Rasna has always created a brand value by emotionally attaching the customer to their brand. * Focus of the promotion is always to resurrect the quality of Rasna.* Rasna spends a lot on Research on the target audience, and promotes there products accordingly. * Rasna has used child characters in their advertising campaigns, and through t hem the company emphasised on the quality of products which was an effective way of promotion. * Rasna has done a great deal to understand the pain of summer and to deliver a product which will ease the pain. This kind of unique and innovative marketing ideas and campaigns made Rasna the monopoly in the Soft Drink Concentrate industry till the time the competitors entered the market.Even now, no brand has been able to beat the promotional campaigns of Rasna. Going by the set standards of Rasna, we can say that the competitors have exhausted very less time and money under stand the Indian market and the promotional activities that works in the India. Place Distribution Channel of Rasna The distribution course of Rasna follows 3 to 5 tier architecture. It follows the Super-Sub concept of distribution. The steps are as follows 1. First the product produced in a factory which is strategically located to minimise the transportation cost.2. The packed product is sent to several(a) comp any depots across the country to distribute and meet the respective market demand. 3. From the company depot, the product is delivered to the different super stockists according to their previously fit(p) order. 4. Then the goods are sent to the sub stockists or in some cases to the wholesale store. 5. The secondary sale from the super stockist or the sub stockist is ensured by the constant monitoring by the company personal. Rasna follows different distribution channel pretence according to local market demand.But for every model the end goal of the company is to deliver a quality product to the end user. With a distribution channel consisting of 35 depots across the country and 1. 8 million retail outlets Rasna is bound to be the leader. Among the competitors the only one that has a good and rivalrous network of distribution is Sunfill by Coca Cola, but still they are not able to compete as availability with retailers is not as widespread as Rasna. COMPETITIVE emolument The co mpetitive advantages of Rasna are listed below* Being the Pioneer in the market Rasna is well known and very much trusted in the Indian market. * Being in the market for a long time, Rasna knows the Indian attempt the best. * Having 7 state of the art production units across the country, the production is never disturbed for any reason. * Because of the widespread distribution network, it is more close to the public. * The marketing strategies used by the company are of superior standard. * Last but not the least, the pricing of the product, which is so low that it is affordable by the last-place segment of the pyramid also.The competitive advantages of Tang are * Being one of the largest brands of the world, Tang has the sustainability even if it is hit at the beginning. * Tang is available in variety of flavours based on local consumers preference. * Tang is fortified with vitamins and minerals. * It is available as powdered and ready to drink bottles. * The powdered Tang is avai lable at low cost. The Competitive advantages of Sunfill are * Being a brand owned by Coca Cola, the distribution cost is cheaper, so can offer the product at a low and competitive price.* The taste is superior compared to other competitive brands. * Setting up of a production unit close to the target customer segment will help in better marketing. * The company can spend straight amount on advertising and promotion. The Competitive advantages of Sugarfree Dlite are * It is a brand owned by a medical company, so people have trust in the product. * It contains no sugar, so it is healthier. * Has medicative advantages. * Helps in controlling blood sugar level, at the same time gives the pleasures of a soft drink.The Competitive advantages of Kissan Mr.fruit are * It is there in the market for a long time, so knows the customer taste and preferences. * Tastier than many of the competitor products. * Supply chain is quite strong as its a product owned by Hindustan Unilever. SUGGESTION S FOR GAINING UPPER MARKET SHARE As we conclude the study on the No. 1 Soft Drink Concentrate in India, Rasna, I have the following suggestions to make so that the company can gain more market share and go forward to be the leader of the industry Product- In terms of product, the following can be done1. Try to minimise waste in production, so that the cost of production comes down further. 2. Venture into new products, like ready to drink bottled drinks. 3. Try producing sugar free products so that even a diabetic patient can enjoy the drinks. 4. Health drinks and energy drinks is other field where the company can venture into. 5. Backward integration is another(prenominal) option that can be suggested to minimise the cost of production. Price- the Company can be more price effective and in turn can gain more market share if, 1.More products are offered in the lower price category. 2. Price be reduced for the larger quantity cartons or bottles. 3. New and introductory products are sold for lesser price so that people are interested in trying the new things. Promotion- In terms of promotion, the company can follow the following suggestions 1. office newer and cheaper modes of advertisement, like the social networking sites. 2. Spend more on Banners, posters, Hoardings. 3. Stop the use of sportspersons and celebrities, as the same doesnt have a long standing effect on the general public.4. Remove the time lag amongst the promotion and the availability of new products in the market. Place- Place plays a rattling role in the success of a company or a brand. The following are my recommendations for improving the market share 1. Go to the newer potency places which have not been tapped earlier. 2. The untimely dispatch of goods from the depot to the super stockist needs to be taken make do of as it may lead to cancellation of order bookings. 3. Unavailability of goods at certain periods needs to be taken care of with a proper distribution control.4. Promotion al events along with the distribution of brochures, stickers and leaflets should be done through sub-stockists and retailers which will help in increasing the brand value.References During the preparation of this project, help and references has been taken from many web sites and blogs and articles. They are mentioned here -Rasna Pvt Ltd. Official site. -Wikipedia-the free encyclopaedia -Puneet Tandon Blogs -Economic Times -Times of India Articles -4psbusinessand marketing. com.

Financial Statement Analysis of Pharmaceuticals in Pakistan

Final Project expediencyability Ratios synopsis of Pharmaceuticals in analogous industry for FY 2008-10 Sanofi-Aventis Ferozsons Abbott A REPORT SUBMITTED TO THE DEPARTMENT OF MANAGEMENT SCIENCES, VIRTUAL UNIVERSITY OF PAKISTAN IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTERS IN BUSINESS presidential term Submitted By Mc080402262 Sheikh Khurum Akram Department of Management Sciences, Virtual University of Pakistan Ac populateledgement In the name of ALLAH, the just about Gracious, the most Merciful Firstly I am thankful to ALLAH ALMIGHTY, WHO is sprinkling HIS blessings upon me and my family.HE has bestowed me with sound health and determination to perform this task. I re exclusivelyy acknowledge guide neckcloths from my course tutor who taught me the techniques of research. This confound is my own effort. executive director Summary I testament evaluate three leading pharmaceuticals of Pakistan for advantageousness symmetry compendium of Abbott, Ferozso ns and Sanofi-Aventis. I show assess them on the behind of facts and figures beard in their financial statements. My objective is to figure out their flaws and potencies. Outcomes of dineroability synopsis be worthy for precaution in reservation effective finalitys.My take chancesings lead make easy for all(prenominal) related parties to assimilate impartial analysis. This watch go out besides make available a snapshot of pharmaceuticals power in managing their resource for yielding lettuce. The main purpose behind this analysis is to stand a quantitative study of warm data. Outcomes of my project exit assist the title-holders and decision-makers to affordgrip an eye on improvement in their businesses. I will perform scratchability proportionality analysis of Abbott, Ferozsons and Sanofi-Aventis. I will cite my sources each time if exact quote is copied of an motive or paraphrasing of the selfsame(prenominal)(p) is drafted in my own al-Qurans.I will provide filename extension if I copy a table, chart, diagram, or graph wholly or partly. Microsoft word and excel will be apply to evaluate symmetry analysis. APA mood of referencing will be use. Ferozsons and Abbott wee yielded decent drop deadss boodle to acquire all in operation(p), non- in operation(p) expenses and tax income charges and to build up reserves after(prenominal) salaried all hardened interest charges and dividends. Sanofi-Aventis has yielded very(prenominal) depressed give the sack hit despite presumable common crying(a) revenue record callable to escalating greet of goods sold, in operation(p)(a) and non- ope score(a) charges. Abbott lab and Ferozsons ar efficiently managing its assets to gift reach.Sanofi-Aventis is not utilizing its assets properly to gene come in mesh. Abbott laboratory and Ferozsons throw luxuriouslyer generating rate of their wealth. Sanofi-Aventis has depression-pitcheder generating rate of its wealth. F erozsons has correct price orgasm and run competence. On the strange Sanofi-Aventis has flaws in set tactic. Abbott has shown fit operational salary to watch its frosty approach. Sanofi-Aventis has shown its efficiency at its best in managing residenceifi washbowlt assets like Property, Plant & Equipment, Stock in Trade and currency with bank balances.Ferozsons has utilized its revenue producing assets exceptionally well. Abbott has set offd mass flagrant revenue mint with a relatively crushed a place setting of fixed assets. Sanofi-Aventis has shown effective job by producing let on sales volume everyplacethrow with minute amount of property, specify and equipment. Sanofi-Aventis has produced meagerly cash in unrivalleds chipss to fit its investors. Ferozsons has begind sufficient swinish derive volumes to face unfavorable financial circumstances such(prenominal) as humiliated-toned demanding and price competition. Ferozsons and Abbott film to keep scheming in the same way for curtailing court of goods sold, operating and on-operating expenses. They contain to obey effective focusing policies by utilizing much assets for the generation of nobleer moolah in future. They unavoidableness to keep strengthening develop pricing approach and operating competence. They hold to utilize operating assets more(prenominal) efficaciously to improve their turn everywhere as per sales volume. Ferozsons pauperizations to downsize overinvested in fixed assets. Abbott and Sanofi-Aventis should improve their overturn of fixed assets in terms of sales volume. They can summation common acquires by implementing more effective portion outment policies.Sanofi-Aventis really necessarily to hold back its moolah yielding capacity. It should critique and improve its products range. Furthermore effective counselling policies can produce the desirable results. It requires implementing modify pricing tactic to take reform operating proficiency. It needs to watch over its policies for better return on owners lawfulness to retain its investor sureness. It has shown better operating assets turnover, it should keep utilizing them in the same manner. It needs to improve its selling and merchandising strategies to improve profit adjustments.Table of contents Acknowledgement Executive Summary persona IPage 1. Chapter 1) gate8 Financial Period Under-Consideration for summary10 Objectives10 moment11 2. Chapter 2) information Processing and abridgment 11 * Data Collection Sources12 * Data Processing and Analysis Tools 12 3. Chapter 3) Data Analysis12 returnsability Ratio Analysis Project12 pay win Margin 12 founder on Assets 14 DuPont income tax return on Assets 17 operate Income Margin 20 operational Assets disorder 23 Return on Operating Assets 26 gross sales to Fixed Assets 29 Return on amount Equity 31 common Profit Margin 34 4. Chapter 4) Summary, Conclusion, Recommendations & Limitati ons 5. 2 Conclusion36 5. 3 Recommendations38 Section II a) doorway of the student39 b) Bibliography39 Section I Chapter 1) opening to the Project My project is about the financial standings and achievement interpretations of three leading pharmaceuticals of Pakistan. I am willing to conduct this project to learn the potentials and flaws of the same sort of business. My findings will facilitate all related parties to defend impartial analysis.This project will as well provide a snapshot of pharmaceuticals competence in handling their resource for generating profits. lucrativeness ratio analysis encourages to conduct a quantitative scrutiny of raw data. It assists the title-holders and decision-makers to monitor improvement in their businesses and endow with qualified analysis. It also helps to analyze and interpret for future prospects. My project will help all the stakeholders to energize impartial comparative performance analysis. Reliable analysis of financial statements has got considerable importance in the current economic scenario.Investors, debtors, creditors and customers demand concrete, credible and result-oriented approach on which they can rely. This sort of project is always needed to take away impartial analysis that encourages financier to invest in more lucrative venture. It will also help the germane(predicate) pharmaceuticals to overcome their loopholes. The pharmaceutical disturbs bugger off shown high sales in the current era. It is justifiable to call it the most unquestionable technological segment in the countrys financial system. This business is straightway experiencing a phase of considerable transformation in under developed countries.Well-established pharmaceuticals can al base investments in more R D that bil commencement-toned their potential drugs range. Abbott Laboratories They be a global, broad-based health c atomic number 18 companionship devoted over to dis coat saucily medicines, new technologies an d new ways to manage health. Their products span the continuum of care, from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Their comprehensive berth of products encircles life itself addressing important health needs from infancy to the golden age.They have over 70,000 employees worldwide and a global presence in more than 130 countries, Abbott Pakistan is part of the global healthcare corporation of Abbott Laboratories, Chicago, USA. Abbott started operations in Pakistan as a marketing affiliate in 1948 the companionship has steady expanded to comprise a contri scarcee force of over 1500 employees. shortly two manufacturing facilities located at Landhi and Korangi in Karachi continue to use innovational technology to produce top quality pharmaceutical products. Abbott Pakistan has leadership in the field of Pain Management, Anesthesia * Medical Nutrition * Anti-Infective Ferozsons Laboratories limited It is one of the l eading pharmaceuticals in Pakistan. It was incorporated as a Private Limited Company in 1954 Ferozsons Laboratories Limited became Pakistans first local pharmaceutical company to be listed on the countrys stock exchanges (1960). Commencing production in 1956, they made their beginnings earlier as manufacturers of fine chemicals and galenicals, and as toll-manufacturers for multinational pharmaceutical corporations today, heir result strength lies in their own range of branded generics, which cover products in the following segments * Anti-infective * Gastrointestinal * cardiovascular * Dermatology Their marketing force consists of over 230 representatives and managers covering the territories of Pakistan. They have aconsistent prescription growth rate of over 20% per annumin their promoted products they provide a solid platform for creating and establishing brands in the Pakistani market. Sanofi-AventisSanofi-Aventis is one of the worlds largest pharmaceutical companies serving th e serve of improving health and wellbeing. It is present in more than deoxycytidine monophosphate countries, with slightly11,000 scientists. They have around century, 000 employeesworking to improve health and wellbeing. Their Global home office are in Paris, France. Sanofi-Aventis focuses its activities on 7 major therapeutic areas * Cardiovascular * Thrombosis * Oncology * Central Nervous System * Metabolic Disorders * Internal Medicine * VaccinesI have selected this project to have broad based comparative analysis in the midst of pharmaceuticals operating in Pakistan with different origins. It is desirable for me to know how these pharmaceuticals utilizing their resources to yield high profits effectively. 1. 1 Financial Period Under-Consideration for Analysis Financial years under consideration for analysis are 2008 to 2010 of Abbott, Ferozsons and Sanofi-Aventis. 1. 2 Objectives The core objectives of the project will be to observe the operations of pharmaceuticals, their f inancial emergence and potencies on with flaws. To analyze the ability of selected pharmaceuticals to earn profit over a item of time * To analyze the selected pharmaceuticals efficiency in managing their resource for generating profit * To find out the reasons for generating profit over the years for selected pharmaceuticals * To find out that how effectively selected pharmaceuticals are maximizing their profits by controlling their lives/expenses * social movement Analysis will help to study the financial history of pharmaceuticals for comparison. * I would justify my findings about the financial capability of the pharmaceuticals to satisfy the stakeholders. . 3 Significance of the Project Profitability ratio analysis would provide thorough instruction about the credibility and current standings of pharmaceuticals. My project will help creditors to know the liquidity position of pharmaceuticals, its relation with profitability and help to settle their priorities. liquid dete rmines a companys capability to meet up its obligations. If a company is facing troubles in meeting its urgent mo passary commitments, it can affect its business functions and profitability.Concisely a pharmaceutical with better profitability will be enjoying improved liquidity position. It can help debtors to assess how pharmaceuticals are extending credits, effectiveness of collecting debts and its impact on profit. I want to carry out this type of project to help the investors for settling their decisions in making investments in such a pharmaceutical that would best value their wealth. It will assist the customers to select such pharmaceutical that is yielding better profits and more reliable. It would help the management to have an independent analysis in identifying their loopholes.Profitability Ratio Analysis, bring down analysis and comparisons of results with new(prenominal) type of data will be judged against the pharmaceuticals within the industry. In short my analysis will help all stakeholders to have relevant and reliable information to ease their decision making process. Chapter 2) Data Processing and analysis I will burst and acknowledge all references for all materials that are used from all sources. I will cite my sources each time if exact quote is copied of an author or paraphrasing of the same is drafted in my own words.I will provide reference if I copy a table, chart, diagram, or graph wholly or partly. APA style of referencing will be used. 2. 1 Data Collection Sources may be Primary Sources This first hand data will be the contents I am investigating through financial statements of my relevant pharmaceuticals. Study of current data is my primary source. Secondary Sources may be It will be collected through financial statements of my selected pharmaceuticals and inter illuminate. 2. 2 Data Processing and Analysis Tools Microsoft word and excel will be used to evaluate ratio analysis. Chapter 3) Data AnalysisProfitability Ratio Analy sis Project I have taken into consideration three recent Financial old age 2008, 2009 and 2010 for analysis of Abbott, Ferozsons and Sanofi-Aventis. 1- give the axe profit bank Introduction The remuneration profit edge formula reveals that how much of a companys revenues are reserved as discharge income. It is generally explicit as a percentage. It is figure by dividing clams profit with sales revenue for a disposed year. commandment earnings profit edge= make Profit / gross sales taxation * coulomb Net profit bank= (Answer) %age reckoning Net profit margin course of instruction 2008 category 2009 division 2010 Abbott =343,980/7,089,163=4. 5% =609,072/8,450,118=7. 21% =1,176,944/10,995,701=10. 70% Ferozsons =217,023. 829/932,297. 994=23. 28% =182,757. 453/1,085,393. 578=16. 84% =317,542. 675/1,273,374. 822=24. 94% Sanofi-Aventis =38,269/4,346,528=0. 88% =167,371/6,725,708=2. 49% =224,024/6,158,295=3. 64% commemorate Numeric Figures are mentioned in 000 func tional No need to provide adjournment of moolah profit (numerator) and sales revenue (denominator) as these figures are mentioned in Profit and hurt poster. pictorial theatrical performance and Trend Analysis Interpretation and similitude Ferozsons has yielded highest net profit ratio (24. 4% in 2010) whereas Abbott laboratory has the maximum sales volume with compare to other two. Ferozsons and Abbott have yielded sufficient net profits to recover all operating, non-operating expenses and taxation charges. They have the purpose to build up reserves after paid all fixed interest charges and dividends. Sanofi-Aventis has yielded very low net profit (0. 88% in 2008) despite healthy sales volume. Abbott has shown sum up dilute from FY 2008 to 2010 by producing the highest sales volume and by curtailing comprise of goods sold, operating and non-operating expenses.Ferozsons has shown a decreasing impulsion from FY 2008 to 2009 out-of-pocket to the change magnitude in cost of goods sold. It has revived in FY 2010 by yielding the highest net profit percentage by controlling its cost of goods sold. Sanofi-Aventis has shown an augment course of action from FY 2008 to 2010 only insufficient net profit to keep any reserves. It has shown the low profit percentage in FY 2008 collect to very high cost of goods sold and operating expenses along with finance charges. Abbott has changed its financial year from November to December in 2010 (13 months) that has also precondition it edge in producing better sales volume.Ferozsons has been leading and surpassed other pharmaceuticals with high profit margins by curtailing its cost of goods sold and operating expenses as compared to others. On the other hand Abbott has shown the highest volume of sales as compared to others barely profit yielding capacity has seemed to be been on the way out. Sanofi-Aventis has yielded very low profits due to escalating cost of goods sold, operating and non-operating charges. 2- Return on Assets Introduction Return on number add assets is a profitability eagre of a company with relation to its join assets.It is generally denotative as a percentage. It is figure by dividing net profit with mediocre entirety assets for a given year. Formula Return on Assets= Net Profit / medium Total Assets * atomic number 6 Return on Assets = (Answer) %age Calculation Return on Assets= Net Profit / sightly out Total Assets * degree Celsius Return on Assets social class 2008 year 2009 Year 2010 Abbott 343980/4865539* blow=7. 07% 609072/5007143* snow=12. 16% 1176944/5377499* blow=21. 89% Ferozsons 217023. 829/1349994. 951* deoxycytidine monophosphate=16. 08% 182757. 453/1530769. 165* cytosine=11. 94% 317542. 675/1724423. 948*100=18. 41% Sanofi-Aventis 38269/2706204*100=1. 1% 167371/3211724*100=5. 21% 224024/3393760*100=6. 60% transmission line Numeric Figures are mentioned in 000 on the job(p) No need to provide breakup of net profit (numerator) a s it is mentioned in profit & loss account. Total Assets Total Assets Year 2007 Year 2008 Year 2009 Year 2010 Abbott 4681368 5049710 4964576 5790421 Ferozsons 1218361. 366 1481628. 536 1579909. 793 1868938. 102 Sanofi-Aventis 2428053 2984355 3439093 3348427 modal(a) Total Assets=(Current Year + Preceding Year)/2 Average Total Assets Year 2008 Year 2009 Year 2010Abbott (4681368+5049710)/2=4865539 (5049710+4964576)/2=5007143 (4964576+5790421)/2=5377499 Ferozsons (1218361. 366+1481628. 536)/2=1349994. 951 (1481628. 536+1579909. 793)/2=1530769. 165 (1579909. 793+1868938. 102)/2=1724423. 948 Sanofi-Aventis (2428053+2984355)/2=2706204 (2984355+3439093)/2=3211724 (3439093+3348427)/2=3393760 Graphical theatrical performance and Trend Analysis Interpretation and Comparison Abbott laboratory has yielded better percentage of return on assets due to reasonable net profit.The better ratio of Abbott laboratory depict that the pharmaceutical is able to manage its asset s efficiently to generate profit. Ferozsons has also reasonable percentage of ROA that depicts its effective management of assets to generate profit. Sanofi-Aventis has low volumes of net profit with high size of average add assets that depicts its inability in utilizing its assets properly to generate profit. Abbott has shown change magnitude trim back from FY 2008 to 2010 due to better profit margin as compared to previous years. Ferozsons has shown a decreasing arch from FY 2008 to 2009 due to decline in net rofit volume. It has also revived in FY 2010 by yielding the higher(prenominal) net profit against average add up assets. Sanofi-Aventis has shown an increasing slip from FY 2008 to 2010 but in enough net profit to utilize total assets effectively. It has shown the lowest ROA in FY 2008 due to very low net profit. Ferozsons has the highest ROA on the whole. It has outclassed other pharmaceuticals. In assembly line Sanofi-Aventis has shown the lowest volume of net pro fits but considerable magnitude of average total assets that depict inefficient management policies to utilize total assets.Abbott has shown well well managed performance in utilizing total assets for producing profit. 3- Dupont Return on Assets Introduction Dupont return on total assets is used to evaluate how productively assets are used. It measures the mutual effects of profit margins and asset turnover. It is generally uttered as a percentage. It is calculated by multiplying net profit margin and total asset turnover for a given year. Formula DuPont Return on Assets= (Net income / gross revenue) x ( gross sales / Total Assets) DuPont Return on Assets = Net profit margin x Total asset turnover DuPont Return on Assets = (Answer) %ageCalculation Dupont return on Assets = net profit margin x total asset turnover Dupont return on Assets Year 2008 Year 2009 Year 2010 Abbott 4. 85%*1. 41=6. 84% 7. 22%*1. 70=12. 27% 10. 70%*1. 90=20. 33% Ferozsons 23. 28%*0. 63=14. 65% 16. 84%*0. 69 =11. 57% 24. 94%*0. 68=16. 99% Sanofi-Aventis 0. 88%*1. 46=1. 28% 2. 49%*1. 96=4. 87% 3. 64%*1. 84=6. 69% nock Numeric Figures are mentioned in 000 Working Net profit margin= (Net income / Sales)*100 Year 2008 Year 2009 Year 2010 Abbott =343980/7089163*100=4. 85% =609,072/8,431,080*100=7. 22% =1,176,944/10,995,701*100=10. 0% Ferozsons =217,023. 829/932,297. 994*100=23. 28% =182,757. 453/1,085,393. 578*100=16. 84% =317,542. 675/1,273,374. 822*100=24. 94% Sanofi-Aventis =38,269/4,346,528*100=0. 88% =167,371/6,725,708*100=2. 49% =224,024/6,158,295*100=3. 64% Total assets Turnover= (Sales / Total Assets) Abbott 7089163/5049710=1. 41 time =8450118/4964576=1. 70 multiplication =10995701/5790421=1. 90 quantify Ferozsons =932297. 994/1481628. 536=0. 63 propagation =1085393. 578/1579909. 793=0. 69 Times =1273374. 822/1868938. 102=0. 68 Times Sanofi-Aventis =4346528/2984355=1. 46 Times =6725708/3439093=1. 6 Times =6158295/3348427=1. 84 Times Dupont Return on Assets Year 2008 Y ear 2009 Year 2010 Average Abbott 6. 84% 12. 27% 20. 33% 13. 15% Ferozsons 14. 65% 11. 57% 16. 99% 14. 40% Sanofi-Aventis 1. 28% 4. 87% 6. 69% 4. 30% Graphical bureau and Trend Analysis Interpretation and Comparison We can analyze the sales comparisons with net income and assets of Abbott laboratory it has yielded better volume of profits along with an add-on in its total assets and sales volume over the years. Its higher ratio depicts the higher generating rate of its wealth.Ferozsons has yielded higher profit margins by controlling its cost of goods sold but lower total assets turnover rate due to less sales volumes. Sanofi-Aventis has very low net profit margins but jolly well total assets turnover rate that depicts lower generating rate of its wealth. Abbott has shown increasing switch off from FY 2008 to 2010 due to better net profit margin and sales volumes. Ferozsons has shown a decreasing disposition from FY 2008 to 2009 due to comparatively low profit margin. It has als o revived in FY 2010 by yielding higher profit margins, increase in total assets and sales volume.Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but insufficient net profit margins has overlooked better total assets turnover rate. Ferozsons has the highest Dupont return on assets. It outshines other pharmaceuticals in better performance on the basis of relevant FYs average. On the different Sanofi-Aventis has shown the lowest volume of Dupont return on assets but reasonable magnitude of total assets and sales volume. Abbott has shown fair performance in utilizing total assets with sales spectrum. Its average is near to Ferozsons. 4- Operating income margin IntroductionThis ratio is used to rate the price policies and operational competence. It is generally expressed as a percentage. It is calculated by dividing operating profit with net sales for a given year. Formula Operating income margin = Operating Profit / Net Sales*100 Operating income margin = (Answer) % age Calculation Operating income margin Year 2008 Year 2009 Year 2010 Abbott 547526/7089163*100=7. 72% 878503/8450118*100=10. 42% 1744787/10995701*100=15. 87% Ferozsons 280330. 464/932297. 994*100=30. 07% 238019. 515/1085393. 578*100=21. 93% 330518. 449/1273374. 822*100=25. 6% Sanofi-Aventis 171478/4346528*100=3. 95% 384071/6725708*100=5. 71% 531682/6158295*100=8. 63% Note Numeric Figures are mentioned in 000 Working Operating Profit (Numerator) = blunt Profit + Other Operating Income Admin Expenses Selling & Distribution Expenses Other Charges Operating Income Break-up GP+OTHER run INCOME-ADMIN EXP-SELLING & DISTRIBUTION EXP-OTHER CHARGES 2008 Abbott 2097653+105545-255737-1334884-65051=547526 Ferozsons 540738. 562+20809. 63-60719. 276-199424. 66-21073. 792=280330. 464 Sanofi- Aventis 1055823+52809-122627-757135-57392=171478 GP+OTHER OPERATING INCOME-ADMIN EXP-SELLING & DISTRIBUTION EXP-OTHER CHARGES 2009 2010 Abbott 2321131+141890-201943-1252810-129765=878503 3 687038+109079-267915-1601101-182314=1744787 Ferozsons 584211. 298+23954. 076-80995. 604-261185. 939-27964. 316=238019. 515 633242. 518+43434. 507-83262. 197-234076. 533-28819. 846=330518. 449 Sanofi- Aventis 1626599+101126-152707-1048283-142664=384071 1753544+102220-175580-1094063-54439=531682 No need to provide breakup of Net Sales (denominator) are mentioned in profit and loss account of rewardive pharmaceutical.Graphical Representation and Trend Analysis Interpretation and Comparison Abbott laboratory has yielded comparatively low operating income margins as compared to Ferozsons due to an increase in business cost and its expenses. Abbott has lower volume of operating profit in 2008 with increased net sales. Ferozsons has optimum capacity to pay for its fixed cost. Sanofi-Aventis has low operating income margin that depicts its poor pricing strategy and operating efficiency. It has minimal operating profits over the years but reasonable net sales volumes. Abbott has shown increasing trend from FY 2008 to 2010.The pharmaceutical should manage its expenses to reduce this decline. It has do better in FY 2010 by producing highest operating profit. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to comparatively low operating profit with comparatively better sales volume. It has also revived in FY 2010 by yielding higher operating profit. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but insufficient operating profit margins has caused inadequate margins to meet its fixed costs. The aforementioned ratio provides an insight to determine the quality of a company.Ferozsons has the highest operating income margins. It has left behind other pharmaceuticals by yielding sufficient operating income that depicts better pricing approach and operating competence. On the contrary Sanofi-Aventis has shown the lowest volume of operating profit margins that shows its flaws in pricing tactic. Abbott has shown adequate operat ing profits to meets its fixed costs but comparatively low as compared with Ferozsons. 5- Operating Assets Turnover Introduction This is a financial ratio that indicates the effectiveness with which a firms management uses its operating assets to generate sales.It is generally expressed in times. It is calculated by dividing net sales with average operating assets for a given year. Formula Operating Assets Turnover= Net sales/ Operating assets Operating Assets Turnover = (Answer) Times Calculation Operating Assets Turnover Year 2008 Year 2009 Year 2010 Abbott 7089163/5168443=1. 37 Times 8431080/4684635=1. 80 Times 10995701/4740615= 2. 32 Times Ferozsons 932297. 994/1055296. 397=0. 88 Times 1085393. 578/652061. 759=1. 66 Times 1273374. 822/865565= 1. 47 Times Sanofi- Aventis 4346528/33338090= 0. 13 Times 6725708/2785713= 2. 1 Times 6158295/2399541= 2. 57 Times Note Numeric Figures are mentioned in 000 Working No need to provide breakup of Net Sales (numerator) are mentio ned in profit and loss account of rateive pharmaceutical. Operating Assets = Total Assets (Intangible Assets + Capital work in progress+ Loans and Advances + Investments + other assets) Break-up of operating Assets Operating Assets Turnover Year 2008 Year 2009 Year 2010 Abbott 5790421-(0+392954+170071+2801+56152)=5168443 4964576-(0+159886+73056+4393+42606)=4684635 5049710-(0+202480+23580+44896+4393+33746)=4740615 Ferozsons 1868938. 02-(0+141831. 157 +223867. 236+438228. 405+9714. 907)=1055296. 397 1579909. 793-(0+171010. 120+215775. 559+205992. 988+35069. 367)=952061. 759 1481628. 536-(0+0204216. 826+217372. 560+194474. 564)=865565 Sanofi- Aventis 33484287-(339+ 119,808+21381+4669)=33338090 3439093-(114+ 618,974+29683+4609)=2785713 2984535-(729+550391+30549+3325)=2399541 Graphical Representation and Trend Analysis Interpretation and Comparison Operating assets turnover of Abbott laboratory has improved over the years as operating assets are slightly decreasing with respe ct to better net sales.Ferozsons has comparatively improved turnover due to whole increase in net sales with respect to operating assets. Sanofi-Aventis has reasonably well sales volume but operating assets havent grown in proportion. Abbott has shown increasing trend from 2008 to 2010 due to improved sales volume and minor change in operating assets. Ferozsons has shown an increasing trend from FY 2008 to 2009 due to comparatively decrease in operating assets as compared to net sales. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 due to better sales with respect to operating assets.Sanofi-Aventis has represented its efficiency at its best in managing significant assets like Property, Plant Equipment, Stock in Trade and Cash with bank balances. It has surpassed others during FY 2009-10. On the other hand Ferozsons has shown comparatively low operating Assets Turnover with respect to other two. Abbott has shown rather better performance on the whole. 6- Return o n Operating Assets Introduction This is a financial ratio that gives an ideaas how efficientmanagement isat using its assets to generate earnings. It is generally expressed as a percentage.It is calculated by dividing net profit with average operating assets for a given year. Formula Return on operating Assets = Net profit / Operating assets*100 Return on operating Assets = (Answer) %age Calculation Return on operating Assets Year 2008 Year 2009 Year 2010 Abbott 343980/5168443=6. 66% 609072/4684635=13% 1176944/4740615=24. 83% Ferozsons 217023. 829/1055296. 397=20. 57% 182757. 453/952061. 759=19. 20% 317542. 675/865565=36. 69% Sanofi-Aventis 38269/33338090=0. 11% 167371/2785713=6. 01% 224024/2399541=9. 34% Note Numeric Figures are mentioned in 000 Working No need to provide breakup of Net Profit (Numerator) are mentioned in profit and loss account of several(prenominal) pharmaceutical. Operating Assets = Total Assets (Intangible Assets + Capital work in progress+ Loans and Advances + Investments + other assets) Break-up of operating Assets Operating Assets Turnover Year 2008 Year 2009 Year 2010 Abbott 5790421-(0+392954+170071+2801+56152)=5168443 4964576-(0+159886+73056+4393+42606)=4684635 5049710-(0+202480+23580+44896+4393+33746)=4740615 Ferozsons 1868938. 102-(0+141831. 157 +223867. 36+438228. 405+9714. 907)=1055296. 397 1579909. 793-(0+171010. 120+215775. 559+205992. 988+35069. 367)=952061. 759 1481628. 536-(0+0204216. 826+217372. 560+194474. 564)=865565 Sanofi- Aventis 33484287-(339+ 119,808+21381+4669)=33338090 3439093-(114+ 618,974+29683+4609)=2785713 2984535-(729+550391+30549+3325)=2399541 Graphical Representation and Trend Analysis Interpretation and Comparison Percentages of return on assets actively used to take profit of Abbott laboratory have been reasonable. Net profit has declined during 2008 that has caused comparatively low ratio.Ferozsons has also utilized its assets actually ask to run the business. Its operating asset s have improved over the years with reasonable net profit volumes. Sanofi-Aventis has not utilized its actively used assets efficiently to create revenue, consequently very low returns. Abbott has shown increasing trend from 2008 to 2010 due to comparatively high net profit. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to decline in net profit and increased volume of operating assets. It has the highest percentage of 36. 69% in FY 2010 due to rapid increase in net profit.Sanofi-Aventis has shown increasing trend over the years due to veridical increase in the volumes of net profit but these percentages have been below average. It needs to improve its net profit. Ferozsons has utilized its revenue producing assets exceptionally well. It has been leading other two. On the other hand Sanofi-Aventis has shown very low percentages of return on operating assets and it has been unable to actively use its assets to create revenue. Abbott has shown noticeably improved per formance but has not performed better than Sanofi-Aventis. 7- Sales to Fixed AssetsIntroduction The fixed-asset turnover ratio measures a companys ability to generate net sales from fixed-asset investments specifically property, jell and equipment (PP&E) netof depreciation. It is generally expressed in times. It is calculated by dividing net sales with fixed assets for a given year. Formula Sales to fixed Assets = Net sales / Fixed assets Sales to fixed Assets = (Answer) Times Calculation Sales to fixed Assets Year 2008 Year 2009 Year 2010 Abbott 7089163/1560835= 4. 54 Times 8450118/1662785=5. 07 Times 10995701/1877596= 5. 6 Times Ferozsons 932297. 994/610987. 413=1. 53 Times 1085393. 578/735614. 952=1. 48 Times 1273374. 822/742280. 446=1. 72 Times Sanofi-Aventis 4346528/1195978= 3. 63 Times 6725708/1393461=4. 83 Times 6158295/1409260=4. 37 Times Note Numeric Figures are mentioned in 000 Working No need to provide breakup of Net Sales (Numerator) are mentioned in profit and loss account of respective pharmaceutical. Fixed assets breakup (Denominator) = Property, Plant and Equipment-netof depreciation, the said figure has been given in the balance Sheet.Graphical Representation and Trend Analysis Interpretation and Comparison Abbott laboratorys performance is better as it is generating almost more than 5 times (on average) sales turnover as compared to its small amount of property, imbed and equipment. Ferozsons seems to be lenient in producing sales as per the volume of Property, plant and equipment. It has overinvested in fixed assets. It needs to revive its sales by introducing new products range. Sanofi-Aventis has also done reasonably well to generate sufficient sales volume as compared to its small amounts of fixed assets.Abbott has shown increasing trend from 2008 to 2010 due to increased sales volume and comparatively small amount of fixed assets. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to overinvestment in property, plant an d equipment. It has improved its ratio in FY 2010 by sufficient increase in sales volume. Sanofi-Aventis has shown increasing trend from FY 2008 to 2009 due to adequate increase in sales volume. It has declined in FY 2010 due to decrease in sales. Abbott has surpassed others by producing bulk sales volume with a relatively small mount of fixed assets. On the other hand Ferozsons has shown very low turnover that means it has overinvested in fixed assets. Sanofi-Aventis has shown effective job by producing better sales volume with minute amount of property, plant and equipment.. 8- Return on total rectitude Introduction Return on lawfulnessmeasures a corporations profitabilityby reveal how muchprofit a company generateswith themoneyshareholders have invested. It is generally expressed as a percentage. It is calculated by dividing net profit with share holders equity for a given year. FormulaReturn on total equity = Net profit / Share holders equity*100 Return on total equity = (Ans wer) %age Calculation Return on total equity Year 2008 Year 2009 Year 2010 Average Abbott 343980/3568512*100=9. 64% 609072/3238460*100 =18. 81% 1176944/3912539*100 =30. 08% 19. 51% Ferozsons 217023. 829/826236. 891*100 =26. 27% 182757. 453/970129. 401*100 =18. 84% 317542. 675/1275765. 058*100 =24. 89% 23. 33% Sanofi- Aventis 38269/1116612*100=3. 43% 167371/1292449*100=12. 95% 224024/1461403*100=15. 33% 10. 57% Note Numeric Figures are mentioned in 000 WorkingNo need to provide breakup of Net Profit (Numerator) are mentioned in profit and loss account of respective pharmaceutical. Share holders Equity breakup (Denominator) = Issued, subscribed pay up capital + Reserves capital + Reserves revenue Issued, subscribed paid-up capital + (Capital Reserves + Revenue Reserves) 2008 2009 Abbott 979003+154777+2434732=3568512 979003+173853+2085604=3238460 Ferozsons 144672. 768+321. 843+681242. 280=826236. 891 173607. 322+321. 843+796200. 236=970129. 401 Sanofi- Aventis 96448+1 020164=1116612 96448+1196001=1292449 Issued, subscribed paid-up capital + Reserves capital + Reserves revenue 2010 Abbott 979003+197167+2736369=3912539 Ferozsons 208328. 786+321. 843+1067114. 429=1275765. 058 Sanofi- Aventis 96448+1364955=1461403 Graphical Representation and Trend Analysis Interpretation and Comparison Abbott laboratory has yielded better profits on owners equity that is a positive sign for investors and lenders. Its return on owners equity falls in FY 2008 due to decline in net profit. Ferozsons has also done considerably better by yielding sufficient returns.It has also decline in returns during FY 2009 due to rapid decrease in net profit. Its owners equity has also improved over the years. Sanofi-Aventis has also slightly improved over the years as it has yielded nominal returns on investment in FY 2009 and 2010. It has very low returns in FY 2008 that should be a matter of concern for the management. Abbott has shown increasing trend from 200 8 to 2010 due to increase in net profit volume over the years. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to substantial decrease in net profit.It has improved its ratio in FY 2010 by sufficient increase in net profit. Sanofi-Aventis has shown increasing trend from FY 2008 to 2010 due to slightly noticeable increase in net profit volumes but these are not attractive from investors point of view. Ferozsons has surpassed others by producing overall better average return that is 23. 33%. It has generated sufficient net profit volumes. Sanofi-Aventis has produced insufficient returns to satisfy its investors. It needs to watch over its policies for better performance. Abbott has also produced reasonable returns on owners equity. 9- Gross Profit Margin IntroductionIt is used to assessa firms financial health by revealing theproportion of money left over from revenues after accounting for the cost of goods sold. It is generally expressed as a percentage. It is calcula ted by dividing gross profit with net sales for a given year. Formula Gross profit Margin = Gross profit / Net sales*100 Gross profit Margin = (Answer) %age Calculation Gross profit Margin Year 2008 Year 2009 Year 2010 Abbott 2097653/7089163*100= 29. 6% 2321131/8450118*100=27. 53% 3687038/10995701*100=33. 53% Ferozsons 540738. 562/932297. 994*100=58% 584211. 298/1085393. 578*100=53. 82% 633242. 518/1273374. 22*100=49. 73% Sanofi- Aventis 1055823/4346528*100=24. 29% 1626599/6725708*100=24. 18% 1753544/6158295*100=28. 47% Note Numeric Figures are mentioned in 000 Working No need to provide breakup of Gross Profit (Numerator) and Net Sales (Denominator) as these figures are mentioned in profit and loss account of respective pharmaceutical. Graphical Representation and Trend Analysis Interpretation and Comparison Abbott laboratory has reasonable overall gross profit margins. Thats why it has yielded sufficient returns on equity. Its net sale has increased over the years. It has a decli ne in gross profit in FY 2009.Ferozsons has also done exceptionally well by yielding the highest gross profit margins. It has the tendency to face adverse economic condition such as low demanding and price competition. Sanofi-Aventis has undermined overall gross profit margins. Its gross profit margins are not sufficiently enough to bear operating and non-operating expenses. Abbott has shown decreasing trend from 2008 to 2009 due to decrease in gross profit. It has revived in FY 2010 by yielding higher gross profit. Ferozsons has also shown a decreasing trend from FY 2008 to 2009 due to significant decrease in gross profit.It has decreased come along in FY 2010 due to bulk net sales volumes. Sanofi-Aventis has shown almost same trend in FY 2008 and 2009 but an increase in FY 2010 due to higher gross profit. Ferozsons has left behind others by producing overall excellent gross profit margins. It has generated sufficient gross profit volumes to face unfavorable financial circumstance s such as low demanding and price competition. Sanofi-Aventis has produced insufficient gross profit returns to satisfy any stakeholder. Abbott has produced adequate gross profit margins to concern operating and non-operating expenses.Chapter 4) Summary, Conclusion, Recommendations & Limitations 4. 2) Conclusions * Ferozsons and Abbott have yielded sufficient net profits to recover all operating, non-operating expenses and taxation charges. They have the tendency to build up reserves after paying all fixed interest charges and dividends. Sanofi-Aventis has yielded very low net profit despite reasonable sales volume due to escalating cost of goods sold, operating and non-operating charges. * Abbott laboratory and Ferozsons are efficiently managing its assets to generate profit.Sanofi-Aventis has low volumes of net profit with higher size of total assets that depicts its not utilizing its assets properly to generate profit. * Abbott laboratory and Ferozsons have yielded greater volum e of profits along with an increase in its total assets and sales volume over the years. Its higher ratio depicts the higher generating rate of its wealth. Sanofi-Aventis has very low net profit margins but reasonably well total assets turnover rate that depicts lower generating rate of its wealth. * Ferozsons has the highest operating income margins that depict better pricing approach and operating competence.On the contrary Sanofi-Aventis has shown the lowest volume of operating profit margins that shows its flaws in pricing tactic. Abbott has shown adequate operating profits to meets its fixed costs. * Sanofi-Aventis has shown its efficiency at its best in managing significant assets like Property, Plant & Equipment, Stock in Trade and Cash with bank balances. On the other hand Ferozsons and Abbott have shown comparatively low Operating Assets Turnover in utilizing operating assets for generating sales. * Ferozsons has utilized its revenue producing assets exceptionally well.On t he other hand Sanofi-Aventis has shown very low percentages of return on operating assets. Abbott has shown noticeably improved performance on the whole. * Abbott has produced bulk sales volume with a relatively small amount of fixed assets. Ferozsons has shown very low turnover that means it has overinvested in fixed assets. Sanofi-Aventis has shown effective job by producing better sales volume turnover with minute amount of property, plant and equipment. * Sanofi-Aventis has produced insufficient returns to satisfy its investors. Ferozsons has produced enough returns on owners equity whereas Abbott has also yielded reasonable returns.It is a good sign for prospect investors. * Ferozsons has generated sufficient gross profit volumes to face unfavorable financial circumstances such as low demanding and price competition. Sanofi-Aventis has produced insufficient gross profit returns to satisfy any stakeholder. Abbott has produced adequate gross profit margins to absorb operating and non-operating expenses. 4. 3) Recommendations * Ferozsons and Abbott need to keep scheming in the same way to keep curtailing cost of goods sold, operating and non-operating expenses. Sanofi-Aventis really need to look its profit yielding capacity.It should review and improve its product range. Furthermore effective management policies can produce the required results. * Ferozsons and Abbott need to retain effective management policies by utilizing more assets for the generation of higher profits in future. Sanofi-Aventis can yield better profit by utilizing its assets proficiently through effective management role. * Ferozsons and Abbott have reasonable Dupont return on Assets with sales spectrum. Sanofi-Aventis needs to improve it by curtailing its cost of goods sold, operating and non-operating expenses. Better profits always enhance investors confidence and it matters in the end. Ferozsons and Abbott have reasonable operating income margin and they need to keep strengthening be tter pricing approach and operating competence. Sanofi-Aventis requires implementing improved pricing tactic to attain better operating proficiency. * Abbott and Ferozsons need to utilize operating assets more effectively to improve their turnover as per sales volume. Sanofi-Aventis has haply better turnover, it should keep utilizing operating assets in the same manner. * Sanofi-Aventis needs to utilize its revenue producing assets in a better way. Abbott and Ferozsons should retain their current line of action. Ferozsons needs to downsize overinvested in fixed assets. Abbott and Sanofi-Aventis should keep their approach towards utilizing its fixed assets in terms of sales volume. * Sanofi-Aventis needs to watch over its policies for better return on owners equity to retain its investor confidence. Ferozsons and Abbott have to retain their pace in retaining current returns on owners equity. * Sanofi-Aventis needs to improve their selling strategies to improve profit margins. Abbott and Ferozsons can increase gross profits by implementing more effective management policies. Section II a) Introduction of the student Last degree Obtained B. ComOrganizations Name Wisdomhouse indoctrinate Designation Owner/Principal Experience 7 Years b) Bibliography Vu hand Outs Internet sources www. investopedia. com http//www. accountingtools. com/fixed-asset-turnover-ratio http//www. abbott. com. pk/11_Financial. htm http//www. pakistaneconomist. com/database2/pdffiles/Pharmaceutical/Abbot/Year%202008/ALAnnual-%20Y08. pdf http//www. ferozsons-labs. com/investor. htm http//www. sanofi-aventis. com. pk/l/pk/en/layout. jsp? hunt down=59A5026C-701D-4C54-B1EC-E7788EA00832 Ross, S. A. , R. W. Westerfield and B. D. Jordan. Essentials of Corporate Finance (1999), 2nd Edition, Irwin/McGraw-Hill.

Fantasy Football: Persuasive Essay Essay

conjuration footb all(prenominal) bouncing is genius of my favorite hobbies and I think you will enjoy it to. Ive been playing Fantasy football game for the last 7 years and I enjoy it more each(prenominal) year. The main reasons I love playing Fantasy football be that it gets me to watch and enjoy games I ordinarily wouldnt watch, it makes games more exciting, and its a great way to bring fri polish moroses together.In Fantasy football you draft a aggroup of players from any team in the theme football League. Since you will hurt a Fantasy team of players go around across many teams, you now have a vested interest in watching games that you usually would not watch. I have watched a military of games over the years that would not have really interested me if I did not have one of my trick players in the game. You may withal have a player on a team you usually do not like to see win, but Fantasy Football tush change your allegiance quicklyIn Fantasy Football the player s on your team grade points by accumulating yardage, scoring touchdowns, kicking knowledge base goals, creating turnovers, etc. The can make a typically boring game that is being dominated by one team more exciting. The players on your fantasy team can still score points for you even when their team is being beaten handily. When a game may seem all but over, you may still be cheering on one of your players to run for skillful a few more yards or score one more touchdown. I have stayed up to watch the end of a blow out game many times just to see if my fantasy players could score a few more points for my team.Fantasy Football is period of play by itself, but it is even more fun when you have a league with several of your good friends, co-workers, and or family members. many another(prenominal) leagues have draft parties to select their teams. Everyone will gather at mortals house or local establishment to eat, drink, and select their fantasy team. These parties can be a lot of fun and it always fun to do a little smack talking about each others teams. Throughout the year you will face off with these same friends in weekly fantasy games. If your team prevails you will have some bragging rights over your friends.If you already enjoy football or would like to learn more about football, Fantasy Football can be a very fun and rewarding hobby. Fantasy Football

Guide Question Dragon Soup Essay

For Case (A)1. Using Excel cruise rund, and the recommended consequential disclosures as a basis for your analysis, what recommendations would you give Phillips on separately of the items listed below? In each case, justify your recommendations and project how often clock the finis will alternate the confessedly value of the company and its value in the eyeball of an investor in a private company. a. The lease or corrupt decision, including whether to structure an operating lease. b. The regular price of the soup, whether or non to agitate an end-of year promotion or target end-of-year inventory level. c. Whether or not to ask Dunwood to guarantee accounts receivable. d. Whether or not to reduce the end-of-year provision for unfavorable debts due to recent strong collection experience. e. Whether or not to grass different investments and, if the recommendation is not to sell the mortgage-backed securities, how to value them on the end-of-year parallelism sheet assuming market conditions do not change. Given your recommendations, how much do you think a potential buyer will introduce based upon a military rank earnings multiple of ten times sustainable earnings, plus the value of cash and vendible investments on the balance sheet?2. In the case, Phillips questioned how far he should push the envelope. Why should he be concerned if all the actions you recommend are legal? Do you think the associated disclosures satisfy the SEC requirement that a company provides a narrative explanation of its financial statements that enables investors to see the company through the eye of the management?For Case (B)As stated in the case, Kerr had given the occupation of valuing Dragons equity for possible acquisition, assuming a valuation of ten times sustainable earnings, plus the value of cash and marketable investments on the balance sheet.He understood that most companies preparing for the sale would window dress their financial statements. However, he had no reason to believe Dunwoodyand Phillips would do anything deliberately dishonest. In any event, it was Kerrs job to try to disencumber any such behavior to establish Dragons true value.3. Using the Excel spreadsheet provided and the footnote disclosures it contains as a basis for your analysis, estimate the true value of the company in the eyes of an investor in a private company.4. Assuming Phillips had prepared the forecasts for you, would you want him to join your team? entertain justify your decision. Assuming you want to hire him, would you offer a similar payment structure to the Tomato Farm deal? Please recognise how you think such a transaction should be treated in accounting terms.5. The footnote disclosures in Excel spreadsheet are designed to by and large satisfy the SEC requirements to provide a narrative explanation of a companys financial statements, which enables investors to see company the through the eyes of management. What additional information would you like to see in the so-called standard disclosures?As part of your submission, please provide an Excel spreadsheet that justifies your answers. To the extent that you change any assumptions from those contained in the Excel spreadsheet provided to your group, please provide a precise explanation of the reasons for these changes and details of the magnitude of their impact on the valuation you propose.If your valuation includes information and/or calculations that cannot easily be incorporated into the spreadsheet provided, please provide additional explanations with your submissionMW PETROLEUM (A)JETBLUE AIRWAYS IPO VALUATIONKOHLER (A)CONSOLIDATED data trackFor Case (A)For Case (B)