Tuesday, December 31, 2019

Analysis For Burberry Plc As A Manager Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1594 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Most well- run companies make extensive use of ratios internally, to monitor and to ensure efficient running of the organisation. To analyse Burberry plc on managers perspective, first of all explain the role of the managers. Managers are people in charge of the day to day running of the business for maximum profitability and efficient use of Capital and human labour.The following ratios for Burberry will be analysed to ascertain the strengths and weaknesses of Burberry plc and if changes ought to be made by the management for growth ,survival and stability of the organisation. Managers will perhaps be concern with all the ratios but the following are most relevant to the managers. Profitability, Efficiency, Liquidity, Gearing and Investment ratios. My ratios may not differ from members of my group simple because management take into account all ratios. (1) Return on capital employed (ROCE); this is a very important ratio to the management when establishing tar gets for profitability .It measure the performance and return of profit on all the capital invested in the business including long-term loans  [3]  . The ratio will show the link between the profit generated during the financial year and the average long -term capital invested in the same financial year  [4]  . In the financial year to end of March 2009, the ratio was -1.7%, and in 2008 was 39%. There is a huge decline and management will be much concern with the figure in 2009. (2) The second ratio relevant to the management is gross profit margin ratio, this ratio relates to the gross profit of the business to sales revenue of the business in the same period  [5]  .Gross profit represents the difference between sales revenue and the cost of sales  [6]  The gross profit margin ratio measures profitability in buying and selling of goods and services before any expenditure is considered. Burberry plc gross profit margin for 2009 is 55.4 percent decrease from the 20 08 figure of 62 percent. There is decrease of 6.6%, which means that the gross profit is lower relative to sales revenue in 2009 than it was in 2008.Management could take a number of measures to increase gross profit , they can reduce the purchase cost of goods sold and increase sales by given incentives such as discounts or buy one get one free. (3) Another useful ratio to the managers is operating profit. Operating profit margin measures how effective a company can control the costs and expenses associated with their normal business operations  [7]  . Operating profit margin represents the profit from trading operations after paying all variable costs of production. There is high decline in operating profit margin for Burberry plc in 2009, the figure was -0.8% and in the year ended 2008, and the operating profit margin was 20.2%. The figure for 2009 is not healthy operating profit margin and the management of Burberry plc will have to take stringent actions to bring the ope rating profit margin to positive figures. (4) The fourth ratio to analyse is current ratio. This type of ratio compares the liquid assets that are cash and those assets held that will soon be turned into cash of the business against the current liabilities  [8]  . A retail business will normally prefer low current ratio because it can hold fast moving inventories of finish goods that can be turned quickly into cash when sold. Burberry plc current ratio for 2009 was 1.4 times and that of 2008 was 1.3 times. The figure for 2008 was slightly lower than that of 2009 ,this will mean that inventories in 2008 was relatively sold for cash thereby given rise to trade receivables than in 2009. (5) Another important ratio to the managers is average settlement period for trade receivables ratio. A business will normally prefer a shorter average settlement period for trade receivables than a longer period  [9]  . This is because a business will have more funds to invest for more pr ofitable purposes than when average settlement period is longer  [10]  . In this instance the funds are tied up on credit sales. The settlement period in 2008 for Burberry plc was 62 days and that of 2009 slightly increase to 69 days. The management should endeavour to encourage their creditors to make prompt payment, so that when cash is received on time for example within 30 days cash can be use to invest in other areas in the business for profit. (6) Another useful ratio to the managers is average settlement period for trade payables ratio. This type of ratio measure how long on average the business takes to pay those who have supplied goods and services on credit to the organisation.  [11]  A business will prefer longer time to pay all goods supplied to them, so that the funds can be diverted to invest on different ventures for profit before making payment to the suppliers of goods and services. In 2009 the average trade payables for Burberry plc was 12days an improve ment from the previous year of 13days.The management of Burberry can negotiate longer trade payables so that funds can be use to invest on other business activities. However, such a policy can result on loss of suppliers or goodwill. (7) Seventh ratio is sales revenue to capital employed. This examines how effective the assets of the business are being used to generate sales revenue. Higher sales revenue to capital employed is preferred to a lower one. This means the business is using its assets more productively to generate revenue. Burberry asset turnover ratio for 2009 was 2 times an improvement from 2008 ratio of 1.9 times. The management will be concern that assets are not been use productively to generate revenue. (8) Sales revenue per employee ratio relates to sales revenue generated to a particular business resource such as labour. The ratio provides a measure of the productivity of the workforce  [12]  Burberry employees sales revenue for 2009 amounted to  £193, 541 an improvement from the figures from 2008 of  £175,866. (9) Another useful ratio is average inventories turnover period .The ratio measure the average period inventories been held. A business will prefer shorter average inventories period to a longer one .However, a business will take into account demand for inventories and price rises or decline. The management of Burberry will have to consider all that before judging the amount of inventories to carry. In 2009 average inventories held was 180days compare to 2008 figure of 259days, this is not very good for Burberry and management have to find ways to reduce the number of days inventories are held. (10) Finally, Interest cover ratio measures the amount of operating profit available to cover interest payable. Operating profit level must be high to meet interest payable, otherwise the management will not be able to secure loans from lenders because there will be considered high risk. In 2009 Burberry interest cover ratio was -0.7 times and that of 2008 was 17 times .The management will be very much worried about the figure in 2009 because they will not be able to meet their interest payment commitment. EVALUATION AND RECOMMENDATIONS Financial ratios, based on current or past performance are very important to the management and are often use to help predict the future and to assess performance and exercise control. The management should be more particular with ratios relating to profit margins, sales revenue, trade receivables, and inventories turnover. However, management must be aware about the limitations of ratios. Considering the business of Burberry plc trading period for 2008/9, it is very clear that the business had not performed well in those financial years. Comparing the trading periods to other businesses in the same line of trading during the same financial years. Next plc for example had performed just a little better for the years 2008/9 than Burberry. The turnover for Next pl c for the year ended 31/3/ 2009 was  £3, 271500 and in 2008 the figure was  £ 3,329100 which was higher than that of 2009. While as in Burberry the turnover for the same period amounted to  £1201500 in 2009 and  £995400 in 2008, however Next plc average employees are 36973 in 2009 and Burberry had 6208 employees. Turnover per employee is much lower for Next at  £88483 in 2009 and Burberry turnover per employee stood at  £193, 541, this figure is very good employee efficiency and management can be satisfied with that. Burberry operating profit for the year to 31st march, 2008 included a net profit of  £15.1m relating to groups relocation of the global headquarters. In the year to 31st march 2009 the group had increased the provision for onerous leases in relation to this relocation by  £7.9m. There were a lot of ongoing operating costs and capital expenditure due to the relocation and deployment .This has affected their overall profit margin and can be a good inves tment in the long run. Analysis in managers perspective must focus in reducing the risk associated with capital, so that the company can continue as going concern in order to provide returns to shareholders and benefit to other stakeholders, while maintaining strong credit rating. Liquidity risk can also be reduce by ensure that sufficient cash is maintained to meet foreseeable needs. The management can put more resources to products that have higher sales revenue, for example, in 2009, womenswear revenue was  £412.8m more than other groups such as menswear revenue amounted to  £298.4m, and in these instances the management should move resources to products that give them high revenue. In conclusion, the management should not only rely on ratios to make decisions, but to take into account the current economic conditions. They recent credit crunch which was the cause of most companies downturn in the past two financial years is easing and management should be aware of that. Looking at the ratios analysed above for Burberry plc, it appears that the loss in profit in 2009 was as results of credit crunch and the relocation of the headquarters which give rise to future prospects for the company and my advice to the management to be cautious and optimistic. Words 1750 . Don’t waste time! Our writers will create an original "Analysis For Burberry Plc As A Manager Finance Essay" essay for you Create order

Monday, December 23, 2019

Ex-Basketball Player by John Updike Essay - 1044 Words

Remember that boy in high school that was the star of the basketball team? He still holds most of the records for the team. He scored more points than anyone else in the school’s history. He never studied much because he was an athlete. His basketball skills were going to take him places. But high school ended and there are no more games to be played. Where is that former all-star now? In his poem â€Å"Ex-Basketball Player,† John Updike examines the life of a former high school basketball star. Flick Webb was a local hero, and he loved basketball. He never studied much in school or learned a trade because he was a talented athlete. Now years later, the only job Flick can find is working at the local gas station. He used to be a star, but now†¦show more content†¦He never had a chance to go very far in life because he put all of his efforts into basketball and he did not focus on his academics. Updike stresses the point of the lowly position Flick holds at the gas station by referring to Flick as Berth’s helper. In the second stanza, Updike uses personification to compare the gas station and basketball. He describes Flick as tall man, which implies he had the physique to be a good basketball player. However in the same line he uses the phrase â€Å"idiot pumps† (7), implying Flick has the physical abilities but not the intelligence to be successful in the real world. The only players Flick competes with now days are the five â€Å"old bubble-head style† (8) gas pumps at the station. The number five is used here to represent the five players on a basketball team. The pumps take on a human form. They are described as having â€Å"rubber elbows hanging loose and low† (9). The letters on the front of the pump form the faces of these make believe players. Updike compares the gas station and basketball to emphasize the change in Flick’s life. Flick used to be a star on the basketball court, but now he works alone. He sees his past in everything around him including the imaginary gas pump players. The third stanza gives a clearer picture of Flick’s past. Flick played for the Wizards. The name is symbolic because it implies the teamShow MoreRelated The Ex Basketball Player by John Updike Essay597 Words   |  3 PagesThe Ex Basketball Player by John Updike A Loss of Motivation In English Seven we read a poem called the Ex Basketball Player by John Updike. The main characters name was Flick Webb. The poem explains how Flick lost motivation. In high school Flick was an excellent basketball player, if not, the best. After high school Flick didnt continue his basketball skills, and he never had tried as hard on his academics as he did on basketball. Flick now works at Berths Garage and has aRead MoreJohn Updikes Poem Ex-Basketball Player1225 Words   |  5 Pages Ex-Basketball Player Most everyone has had an extraordinary dream; for some, it is to be a movie star or to be on a professional sports team. Nevertheless, while great goals they are, they are not likely. For example, about 1 and 70,000 people become a major movie star (study.com). Additionally, the likelihood of entering the NBA from high school is 3 and 100,000 (ehow.com). Therefore, the great majority are obligated to find something else to pursue. As a result of peoples dreamsRead MoreAn Acclaimed And Award-Winning Writer Of Fiction, Essays,1141 Words   |  5 Pagesessays, and reviews, John Updike also wrote poetry for most of his life. Born and raised in Shillington, Pennsylvania in 1932-died on January 27, 2009. Luckily, he was accepted to Harvard College and graduated in 1954. This is what turned his life around. After school was done, he worked for a few years on the staff of The New Yorker. When his writing abilities were finally noticed, he got the idea to start writing poetry and short stori es. One poem he wrote was â€Å"Ex basketball player† its about an excellentRead MoreAn Analysis Of John Updikes Ex Basketball Player1216 Words   |  5 Pagesabout 0.03% of high school basketball players get drafted out by an NBA team. 0.03% is such a little percentage that it is the same chance of someone getting four of a kind in a first round of poker (www.norwichcsd.org/Downloads/ ProSportsOdds.doc). With this striking percentage it is amazing to think so many young players hope to make it to the pros. In the end, regret and defeat are much too common, a theme that John Updike features in his poem, â€Å"Ex Basketball Player†. The poems persona, FlickRead MoreStar Basketball Player By John Updike1026 Words   |  5 PagesIn the poem Ex-Basketball Player, John Updike recounts the timeline of a once great basketball player named Flick Webb. The journey starts with a description of Flick’s hometown, then shares details about his current job, next it reflects on his high school basketball success, and finishes with his habits outside of work. In the first stanza, the poet is describing the town where Flick lives. Updike references trolley tracks which would imply an early 20th century setting. He also calls out the nameRead MoreDownfall Of A Star By John Updike965 Words   |  4 PagesDownfall Of A Star In John Updike’s poem, â€Å"Ex-Basketball Player,† Updike, an American novelist and poet born in 1932, best known for his â€Å"Rabbit† series, tells the story of an American tragedy when he describes the life of Flick Webb, a once high-school basketball star turned gas attendant. This poem is narrated by an unknown voice, but sounds like a local who knew of Webb’s significance in high school. Webb went from a successful high-school basketball star to a gas station attendant. Updike’sRead More Ex – Basketball Player Essay1084 Words   |  5 PagesIn the poem, â€Å"Ex – Basketball Player† by john Updike, (which is a narrative poem) illustrates the nature of life on how life is potentially is seen has a mirror to other people’s life, especially people who play sports. Life is the physical and mental experience of an individual. An in the poem the main character Flick, supply the poem with a good example of how life is p otentially a mirror for other people. This poem is formally organized, even though it locks some qualities, it still haves theRead MoreLiterary Review of Rabbit Run by John Updike Essays3013 Words   |  13 PagesLiterary Review of Rabbit Run by John Updike John Updikes novel, Rabbit, Run, is about a man named Harry â€Å"Rabbit† Angstrom. Rabbit is a brainless guy whose career as a high school basketball star peaked at age 18. In his wifes view, he was, before their early, hasty marriage, already drifting downhill. We meet him for the first time in this novel, when he is 22, and a salesman in the local department store. Married to the second best sweetheart of his high school years, he is the father

Sunday, December 15, 2019

Unemployment Rate †Article Review Free Essays

THE country’s unemployment rate currently stands at 3. 1 per cent compared with the 3. 4 per cent last year, the Dewan Negara heard yesterday. We will write a custom essay sample on Unemployment Rate – Article Review or any similar topic only for you Order Now Deputy Human Resources Minister Datuk Maznah Mazlan said the government was fully harnessing its workforce to keep the unemployment rate at four per cent and below. This was because according to international standards, this was considered full employment. â€Å"According to the Statistics Department, the percentage of unemployment last year was 3. 4 per cent or 387,9000 people. Of the total, 65,500 were graduates. â€Å"In the first quarter of this year, the unemployment percentage dropped to 3. per cent or 381,300. Of the number 71,600 were graduates,† she said responding to Senator Khoo Soo Seang. Maznah said the government had implemented measures to assist unemployed graduates. These included offering a short service scheme with government departments, opportunities for apprenticeship and internship, and the 1Malaysia Training Scheme. Under the short service scheme, graduates who have not secured jobs in six months after completing their studies have the opportunity to intern at participating government linked companies for a year and receive an allowance of RM1,000 a month. Upon completion, the GLCs will assist in finding permanent positions for them. â€Å"The programmes are to enhance the graduates’ marketability and provide exposure so that they do not have to rely on the government for employment but can start their own businesses,† she said. Article about During 2011 the employment rate decreases from 3. 4% to 3. 1% due to the government effort to control all the recourse and to maintain the unemployment rate under 4%. Based on the international standard the unemployment rate of 4% and below considered as full employment. Although the number of people that unemployed are decreasing but the number of unemployed graduates are increasing. Due to this situation, the government had executed measures to help graduates to get a job. The government offer a short service scheme which give a job opportunity to them besides giving them skills and internship. The allowance are also provided under the short service scheme. This will help to give the graduates exposure and encourage them to do their own business instead of relying on the government for the job. Analysis. Based on the article, we can conclude that the type of unemployment that we can see is frictional unemployment. This type of the unemployment occurs when people are in between jobs, entering and reentering the labor force. This may happen when fresh graduates are actively seeking for a job. The numbers of unemployed graduates increase by 9. 3% maybe due to the lack of soft skills and experience that most employers seek. The measure that the government took to control the unemployment is direct control measure, which is providing training and technical education and job creation in various sectors in an economy. The governments want to encourage the graduates to own a business because when there are more trade and transaction, the government revenue will increase. This will lead to economic growth and therefore can increase in GDP. The effects of decreasing the unemployment rate The first effect of decreasing unemployment rate is the incomes will increases. This will lead towards to more buying power and accelerating the inflation rate. Thus, this will effect to the distribution of income, the savings, production cost and balance of trade. The second effect of unemployment is new businesses will have a hard time succeeding, because everyone is already employed, who is going to work for them? New businesses will have to raise wages to entice people to work there which again raises wages and lowers profits to a point where it makes no sense to even start the business. Great levels of unemployment are around 3-5%. The pros and cons of decreasing unemployment rate The pro of decreasing unemployment rate is increase of income and self-respect. Secondly, increase the job skills. Thirdly, decrease social and political problems. Fourthly, the GNP gap becomes narrower because the GNP gap will almost towards to potential GNP. The contras of decreasing unemployment rate are inflation will occur and the new business will have hard time to survive. The effect of decreasing rate of unemployment towards society The first effect is employment may bring a increase in social outings and interactions with other people, including friends. Secondly, employment the competition for jobs and the negotiation power of the individual increases and thus also the living standard of people with the salaries packages and income higher. Thirdly, employment also brings up calm and steadiness amongst the tax paying citizens. For the fresh graduate employees, they will not face burden to settle their loans. Recommendation or solution The first solution is, government can use progressive tax rate depends on the number of employees and use the current Malaysia Corporate Tax. If we use this method, the company in Malaysia will hire more employees in order to decrease the corporate tax and lead to the zero unemployment rates. The second solution is government can open up Malaysian mind to new kind of industry that can make the Earth as better place in the future. For example, this legislation would create an estimated 3 million new jobs by opening closed areas of the Outer Continental Shelf which is between Malaysia and Brunei for oil and gas exploration, and streamlining the licensing of nuclear power plants. This also would create royalty revenues for the government that the bill directs to a new trust fund that can promote renewable energy. How to cite Unemployment Rate – Article Review, Papers

Saturday, December 7, 2019

Australian Accounting Standards Board(AASB)

Question: Discuss about the Australian Accounting Standards Board(AASB). Answer: Introduction The current study presents a detailed illustration of different systems and mechanisms of accounting that can assist in monitoring, controlling as well as directing business operations with special indication to different operational functions of Qantas Airways. Qantas Airways is the largest airline in Australia from the perspective of size of the fleet, different international flights and worldwide destinations (Qantas.com.au 2016). Qantas Airways possess the share of around 65% of the domestic market in Australia and carries just about 14.9% of overall passengers travelling both to and from Australia. However, the size of the fleet of the company Qantas Airways is recorded to be around 131 that carries out operations throughout 85 destinations. (Qantas.com.au 2016). In addition, the current study presents a critical evaluation of different concepts of measurement that can points out towards the need for reviewing the compliance towards different rules for measurement, assessment of the General Purpose Financial Reports prepared and presented for different users of financial information of Qantas Airways (Yong et al., 2016). Furthermore, the current study also detects diverse issues associated to the process of measurement. In addition to this, the present report also expounds in depth the concepts of prudence and compliance to the conceptual configuration for financial reporting (Qantas.com.au 2016). Evaluation of the General Purpose Financial Reports: Different concepts of Measurement: Conceptual Framework The conceptual framework essentially indicates the intentions of as well as the principles of the general purpose financial reporting. Again, in other words, the conceptual structure is an effectual tool that can assist the board of the company in the process of development of the financial standards founded on different notions. In addition to this, the conceptual structure also helps preparers of specific general-purpose financial reports to build up effectual and simultaneously reliable strategies of accounting while the financial standard can authorize the selection of the particular accounting plan (Williams, 2016). Besides this, the conceptual structure also supports the course of comprehending with interpreting the accounting standards. Additionally, the intent and function of the conceptual structure is also to enhance the overall structure of financial coverage by offering an absolute, restructured and all together comprehensible set of principles (Aasb.gov.au. 2016). The financial statements of the Qantas Airways, complying with the Conceptual Framework AASB helps in managing different intentions of the financial declarations, diverse qualitative uniqueness that in turn establishes the usefulness of the financial statements (Uyar Gungormus, 2016). However, there are diverse components that can shape the entire financial declarations. The essential elements of the financial declaration comprise of the current and non-current assets, current and non-current liabilities as well as shareholders equity. The different items of the financial reports elucidate the financial situation of the corporation. Again, the structure also helps in the process of evaluation of the financial health of the corporation from the perspective of income, operating expenses and the profit (Aasb.gov.au. 2016). Besides this, the conceptual framework also explains in detail different criterion and the decisive factors for recognition and acknowledgment of diverse items in th e financial declarations of the corporation. Problems of Measurement in the context of the AASB Standard and Framework The accounting standard AASB 13 Fair Value Measurement refers to the process of establishment of a single as well as principles-based structure for measurement at fair value at the time there is a need for the Australian Accounting Standard. Again, the AASB 13 normally does not transform at the time when a particular business entity need to make use of the fair value. Therefore, the AASB 13 comprises of different notions regarding the best exercise, assessment principle and has need of application of a fair value (Uno Bartelmus, 2013). The income proceeds of the company Qantas Airways is recorded to be $15816 million during 2015 where the net income proceeds for the passenger adds $13667 million along with the net freight revenue that provides $936 million (Qantas.com.au 2016). Again, the Board of the corporation Qantas pursues a charter and is liable for the establishment and evaluation of the tactical direction and supervision of the overall process of execution of the strategy of Qantas Airways. In addition to this, the CEO of the business is accountable for day to day administration of the operations of the entire Qantas group. Again, the company secretary is liable directly to the Board as well as the Chairperson on different affairs associated to the appropriate functioning of the company. The board of the corporation Qantas Airways is appropriately structured and separated into four committees (Schrand et al., 2016). The committee includes the (Audit committee, Nominations committee, Remuneration Committee a nd the Safety, Environment, Environment and security committee) to augment the shareholders value. Over and above this, the Board of the company also complies with the Groups Continuous Disclosure Policy that calls for the need of preparation and presentation of timely and all together balanced disclosures that can ensure orderly trading of the issued shares of the corporation in a well informed market. Again, Qantas Airways also has a Shareholder Communication Policy that successfully promotes two different effectual ways of communication with the relevant shareholders of the corporation. The board of directors of the company is responsible for the presentation of the remuneration report that in turn complies with the principles conditioned under Section 30A of the Corporation Act 2001. In addition to this, the review of the remuneration report replicates the fact that the short-term incentive plan can be regarded as the Annual at risk incentive plan for diverse members of the work force of the Qantas Airways. The Board of the corporation Qantas Airways also assesses the performance of all the members of staff against the factors slated in the scorecard measured at approximately (140%). However, the long-term incentive plan is the policy of the incentive payments to the executives that are essentially assessed based on the three-year performance plan of the company. Thus, the strong financial condition of the corporation Qantas Airways also aided the management of the company to handle the downturn and attain good financial even for the period of the period of the Global Financial Crisis (Schipper et al., 2016). Assessment of the measurement of items in the financial reports of Qantas Airways The assessment of the financial reports includes evaluation of the consolidated financial statements of the Qantas Airways that are in essence the general-purpose financial reports. The corporation Qantas Airways prepares the general purpose financial reports in compliance to standards specified in the Australian Accounting Standards Board (AASB) along with the Corporation Act. Besides this, the corporation also prepares and presents the financial statements in line with the International Accounting Standards Board as well as the International Financial Reporting Standards (Ryan et al., 2014). Assets: According to the financial declarations registered for the period of the year 2015, the total assets of the corporation are recorded to be $17530 million. Again, the assets possessed by the company are essentially expressed in terms of the Australian Dollars that are essentially the operational currency of the particular firm. However, the process of evaluation of assets stated in the financial statements reveal the fact that the assets can be categorized as the as held for sale that are essentially measured at lower value of the identified cost compared to the fair value after the subtraction of the costs incurred for sales. Nevertheless, the net defined asset of the company Qantas Airways is recorded at the fair value of diverse plan assets after subtraction of the current value of the definite benefit obligation (Richard David, 2016). Liabilities: As recorded in the financial statement of the corporation Qantas Airways, the overall liabilities of the corporation Qantas Airways stands at $14083 million during the period 2015. Nevertheless, the balance sheet of the company records both the current as well as different non-current interest-bearing liabilities that can be utilized for financing the functions of the business of Qantas Airways. As per the annual financial report of the company Qantas Airways, the item of liability in the balance sheet of the company is recorded based on the historical cost and valued at the operational currency that happens to be the Australian Dollar. The net defined liability of the company is calculated at the fair value of different plan liabilities after subtraction of the present value of the defined advantage requirements (Rankin et al., 2012). Equity: A study of the balance sheet of the corporation Qantas Airways replicates the fact that the equity of the shareholders of the company stands at $344 million during the year 2015. As mentioned in the annual declaration of the firm, the derivatives expressed at the fair value by means of the profit as well as loss is calculated at the fair value (Rahman, 2013). Therefore, the company uses different model on accounting the derivatives that calls for the need of the fair value measurement. Inventory: The financial position and the degree of efficiency of the operations of the company can be analyzed from the evaluation of the level of inventory of the firm. The inventory of the company Qantas Airways augmented and rose to $322 million during 2015 from the recorded figure of $317 in the year ago period. The reason behind the augmentation of the inventory is primarily owing to the increase in the engineering expendables; shrink in different consumable stores and the reduction of the work in progress. However, the lack of potential of the firm to manage the inventory of the Qantas Airways might perhaps weaken the competitive position of the business (Qantas.com.au 2016).Accounts receivable, provision for bad debt and doubtful debt: As mentioned in the annual consolidated financial declarations of the firm Qantas Airways, the accounts receivables of the company are registered to be $959 million in the year 2015. The annual declarations for the company reveal the fact that the current receivables of the company Qantas Airways declined from $1196 million to $959 million during the period 2015. Again, the numeral for the non-current receivables in the balance sheet also reflects a decrease from the $158 million during 2014 to $134 million in the year ago period (Myers, 2016). Again, the decline in the overall accounts receivables can direct towards the decrease in both the trade debtors as well as the sundry debtors. Again, the company essentially recognizes the trade receivables at the fair value and are enumerates the same at amortized cost using the interest method after subtraction of different payments for impairment. Again, the administration of Qantas Airways formulated an optimal framework for capital by simultaneously lessening the debt and escalating the liquidity that led to the enhancement of the return on employed capital to around 16%. However, the transformation program of Qantas Airway also assisted the business in making the repayments of roughly $1 billion of the total net debt of the corporation Qantas Airways (Qantas.com.au 2016). Plant, property and equipment (PPE): As per the annual financial declarations of the firm, the plant, property and equipment of Qantas Airways amounted to $136 million in the year 2015. Nevertheless, the plant, property and equipment (PPE) of the company Qantas Airways were registered to be $134 million in the year 2014. The reports marked the 1.4% increase in the plant, property as well as equipment in 2015. The analysis of the financial reports reflects the fact that the non-recurring fair value calculation for the PPE that are classified as held for sale can further be categorized under the fair value ladder based on utilization of different inputs of appraisal mechanism (Yong et al. 2016). Depreciation: As per the reports declared in the annual statements, it can be hereby ascertained that the depreciation and at the same time amortization cost were recorded to be lesser with $195 million after reduction ensuing from different non-cash impairment to the Qantas International fleet. Depreciation and amortization expenses were essentially lower than the $195 million of the diminution ensuing from the non-cash harm to the Qantas International fleet. Again, the depreciation and amortization expense was essentially registered to be $1422 million in the year 2015 that increased from the year ago figure of $1096 million (Qantas.com.au 2016). The management of the organization refers to the straight-line process of depreciation based on the various financial items of plant, property as well as equipment except only the land that are not depreciated. The rate of depreciation of diverse owned assets are in essence calculated to allocate different owned assets that are calculated after subtraction of the estimated residual value over the anticipated economic life of the asset of the Qantas Group. In addition to this, the assets of the company are generally devalued from the acquisition date as regards internally produced assets from the time the definite asset can be applied (Miller Power, 2013). Treatment of leases: The Qantas Group fundamentally leases a particular airline under finance leases that has the expiry dates ranging between one and ten years (Kang Gray, 2013). On the other hand, analysis of the financial declaration reveals the fact that the total finance leases of the company Qantas Airways is equal to $1498 million where the operating lease amounts to $2782 million. The financial reports also reveal the fact that the capitalized operating lease liability is in essence calculated at fair value at the particular commencement date of the lease. Again, the measurement of the lease needs to be re-enumerated over a particular term of the lease founded on both principal and interest that is almost similar to finance lease (Qantas.com.au 2016). Analysis of the process of reporting revenue in the financial reports of Qantas Airways: Relationship between the measurement employed and the provision of decision-making The preparer of the financial statements of Qantas Airways essentially complies with the Corporation Act 2001 along with different Listing Rules stated under the Australian Stock Exchange (Aasb.gov.au. 2016). Furthermore, the management of the organization Qantas Airways has adopted the strategy of providing constant disclosures that in turn can help the financiers of the firm in getting a clear understanding regarding the financial performance as well as the financial position of the firm (Henderson et al., 2015). Besides this, the continuous disclosure can also help in augmenting the confidence of the investors regarding the transparency, reliability and integrity of the operations of the organization and the financial statements declared by the corporation. The process of preparation as well as presentation of the financial statement of the firm also follows the conceptual framework AASB (CF). The conceptual framework provides a clear overview regarding the definition and objectives of the financial statements along with the scope and the criteria for recognition of the data. The framework also helps in understanding the process of measurement of different items in the financial statements. Accordingly, the investors can examine the effectiveness of the business by using the financial statement of the firm prepared using different accounting standards of the AASB (Edwards, 2013). The system of measurement employed also indicates the orientation of the preparers of the financial system to prudence in the conceptual configuration. The compliance of the financial declarations to relevant standards can thereby ensure the overall steadiness in the financial information and make certain the nature of the neutrality of diverse activities (Atrill McLaney, 2016). Again, the conformation with the relevant standards for measurement of the financial statements and adherence to different guiding principles can help in avoidance of different attempts of deliberate misstatements in the financial reporting. Therefore, the presentation of the financial statements as per the conceptual framework can help in minimizing the errors in the statements of the company and generate investors confidence. The financiers can thereby rely on the financial statements and arrive at useful decisions (DRURY, 2013). The update as well as improvement of the conceptual framework indicates the process of elimination of the IASB with particular point of reference to diverse notions of prudence. The procedure of updating and at the same time developing the notion of prudence needs to exclude noteworthy factors of faithful representation (Deegan, 2013). The up gradation of the standards also indicates the system of updating diverse point of references to the conceptual framework that in turn refers to the anticipated amendments to the standards, namely the AASB 2, AASB 3, AASB 4, AASB 6, AASB 101, AASB 108, AASB 134 among many others (Barth, 2013). The investors can analyze the performance of the organization by studying the inventory level of the organization and the effectiveness of the organization in conversion of the inventory to sales before arriving at any decision (Bonin, 2013). The measurements of the plant, property and equipment using the relevant accounting standards can help the investors in understanding the value and thereby help the financiers to become responsive to different options of investment of the firm on the PPE. The investments of the corporation on the PPE might possibly indicate towards the outflow of cash that can help in generation of revenue in the future period (Chan et al., 2016). Therefore, the items presented in the financial statements as per the required standards can help the shareholders of the company and the wider community of the financiers in understanding financial position of the firm and boost their sentiments. Conclusion The financiers can evaluate different items of the financial reports of the corporation Qantas Airways and presents the different concepts of the financial measurements. In addition to this, the current study also helps in understanding the problems related to measurement in the present context of the present AAASB standards and framework with special orientation to the operations of the company Qantas Airways. Again, the above-mentioned study has helped in gaining a deep understanding regarding the issues related to the measurement of different items of the financial reports in the context of AASB. Furthermore, the above study also helps in gaining an oversight on the relationship between the measurement employed in the Qantas Airways and the provision of the different decision. Reference List Aasb.gov.au. (2016).Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au [Accessed 23 Aug. 2016]. Atrill, P., McLaney, E. (2016). Financial Accounting for Decision Makers 8th edn. Pearson Higher Ed. Barth, M.E., (2013). Measurement in financial reporting: The need for concepts.Accounting Horizons,28(2), pp.331-352. Bonin, H., (2013).Generational accounting: theory and application. Springer Science Business Media. Chan, S. H., Song, Q., Rivera, L. H., Trongmateerut, P. (2016). Using an educational computer program to enhance student performance in financial accounting. Journal of Accounting Education. Crawford, C. W. (2016). ACTG 201.05: Principles of Financial Accounting. Deegan, C., (2013).Financial accounting theory. McGraw-Hill Education Australia. DRURY, C.M., (2013).Management and cost accounting. Springer. Edwards, J.R., (2013).A History of Financial Accounting (RLE Accounting)(Vol. 29). Routledge. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., (2015).Issues in financial accounting. Pearson Higher Education AU. Kang, H. and Gray, S.J., (2013). Segment reporting practices in Australia: Has IFRS 8 made a difference?.Australian Accounting Review,23(3), pp.232-243. Miller, P. and Power, M., (2013). Accounting, organizing, and economizing: Connecting accounting research and organization theory.The Academy of Management Annals,7(1), pp.557-605 Myers, L. P. (2016). Knowledge structures and their relevance for teaching and learning in introductory financial accounting. South African Journal of Accounting Research, 30(1), 79-95. Qantas.com.au, (2016) Retrieved 29 August 2016, from https:///www.qantas.com.au Rahman, A.R., (2013).The Australian Accounting Standards Review Board (RLE Accounting): The Establishment of Its Participative Review Process. Routledge. Rankin, M., Stanton, P.A., McGowan, S.C., Ferlauto, K. and Tilling, M., (2012).Contemporary issues in accounting. John Wiley and Sons Australia, Limited. Richard, L., David, P. (2016). Advanced financial accounting. Ryan, C., Mack, J., Tooley, S. and Irvine, H., (2014). Do Not For Profits Need Their Own Conceptual Framework?.Financial Accountability Management,30(4), pp.383-402. Schipper, K., Francis, J., Weil, R. (2016). Financial Accounting: Introduction to Concepts, Methods and Uses. Cengage Learning. Schrand, C. M., Armstrong, C. S., Taylor, D. J., Verrecchia, R. E., Wagenhofer, A., Casey, R. J., ... Hribar, P. (2016). Journal of Financial Reporting A Publication of the Financial Accounting and Reporting Section of the American Accounting Association. Uno, K. and Bartelmus, P. eds., (2013).Environmental accounting in theory and practice(Vol. 11). Springer Science Business Media. Uyar, A., Gungormus, A. H. (2016). Factors associated with student performance in financial accounting course. European Journal of Economic and Political Studies, 4(2), 141-156 Williams, B. J. (2016). The new frontiers of accounting fraud: The impact of accounting standards convergence on fair and accurate financial reporting (Doctoral dissertation, UTICA COLLEGE). Yong, K.O., Lim, C.Y. and Tan, P., (2016). Theory and practice of the proposed conceptual framework: Evidence from the field.Advances in Accounting.

Friday, November 29, 2019

Tensile test of aluminum and mild steel free essay sample

Tensile tests are fundamental for understanding properties of different materials, and how they will behave under load. These properties can be used for design and analysis of engineering structures, and for developing new Materials that better suit a specified use. This lab tested two materials mild steel and cast iron. The data from each test was used to determine valuable material properties such as ultimate tensile strength, modulus of elasticity, and yield strength. Other calculated properties included true fracture strength, percent reduction of area, and percent elongation. These material properties were used to define the material as brittle or ductile. INTRODUCTION: Mechanical testing plays an important role in evaluating fundamental properties of engineering materials as well as in developing new materials and in controlling the quality of materials for use in design and construction. If a material is to be used as part of an engineering structure that will be subjected to a load, it is important to know that the material is strong enough and rigid enough to withstand the loads that it will experience in service. We will write a custom essay sample on Tensile test of aluminum and mild steel or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As a result engineers have developed a number of experimental techniques for mechanical testing of engineering materials subjected to tension, compression, bending or torsion loading. The most common type of test used to measure the mechanical properties of a material is the Tension Test. Tension test is widely used to provide a basic design information on the strength of materials and is an acceptance test for the specification of materials. The major parameters that describe the stress-strain curve obtained during the tension test are the tensile strength (UTS), yield strength or yield point (ÏÆ'y), elastic modulus (E), percent elongation (∆L%) and the reduction in area (RA%). Toughness, Resilience, Poisson’s ratio(ÃŽ ½ ) can also be found by the use of this testing technique. In this test, a specimen is prepared suitable for gripping into the jaws of the testing machine type that will be used. The specimen used is approximately uniform over a gage length (the length within which elongation measurements are done). Tensile specimens are machined from the material to be tested in the desired orientation and according to the standards. The cross section of the specimen is usually round, square or rectangular. For metals, a piece of sufficient thickness can be obtained so that it can be easily machined, a round specimen is commonly used. For sheet and plate stock, a flat specimen is usually employed. The change in the gage length of the sample as pulling proceeds is measured from either the change in actuator position (stroke or overall change in length) or a sensor attached to the sample (called an extensometer). A tensile load is applied to the specimen until it fractures. During the test, the load required to make a certain elongation on the material is recorded. A load elongation curve is plotted by an x-y recorder, so that the tensile behavior of the material can be obtained. An engineering stress-strain curve can be constructed from this load-elongation curve by making the required calculations. Then the mechanical parameters that we search for can be found by studying on this curve. Engineering Stress is obtained by dividing the load by the original area of the cross section of the specimen. Stress ÏÆ' = P/Ao ( Load/Initial cross-sectional area) Strain = e = ∆l/lo (Elongation/Initial gage length) Engineering stress and strain are independent of the geometry of the specimen. ELASTIC REGION: The part of the stress-strain curve up to the yielding point.Elastic deformation is recoverable. In the elastic region, stress and strain are related to each other linearly. Hooke’s Law: ÏÆ' = Ee The linearity constant E is called the elastic modulus which is specific foreach type of material. Yield Strength is the stress level at which plastic deformation starts. The beginning of first plastic deformation is called yielding. It is an important parameter in design. The stress at which plastic deformation or yielding is observed to begin depends on the sensitivity of the strain measurements. With most materials there is a gradual transition from elastic to plastic behavior, and the point at which plastic deformation begins is hard to define with precision. Various criteria for thevinitiation of yielding are used depending on the sensitivity of the strain measurements and the intended use of the data. 0,2% off-set method is a commonly used method to determine the yield stength. ÏÆ'y(0.2%) is found by drawing a parallel line to the elastic region and the point at which this line intersects with the stressstrain curve is set as the yielding point. An illustration of 0,2% off-set method is shown in the appendix part. Plastic Region: The part of the stress-strain diagram after the yielding point. At the yielding point, the plastic deformation starts. Plastic deformation is permanent. At the maximum point of the stress-strain diagram (ÏÆ' UTS), necking starts. Tensile Strength is the maximum stress that the material can support. ÏÆ'UTS = Pmax/Ao Because the tensile strength is easy to determine and is a quite reproducible property, it is useful for the purposes of specifications and for quality control of a product. Extensive empirical correlations between tensile strength and properties such as hardness and fatigue strength are often quite useful. For brittle materials, the tensile strength is a valid criterion for design. Ductility is the degree of plastic deformation that a material can withstand before fracture. A material that experiences very little or no plastic deformation upon fracture is termed brittle. In general, measurements of ductility are of interest in three ways: 1. To indicate the extent to which a metal can be deformed without fracture in metalworking operations such as rolling and extrusion. 2. To indicate to the designer, in a general way, the ability of the metal to flow plastically before fracture. 3. To serve as an indicator of changes in impurity level or processing conditions. Ductility measurements may be specified to assess material quality even though no direct relationship exists between the ductility measurement and performance in service. Ductility can be expressed either in terms of percent elongation (z) or percent reduction in area (q) ; z = %∆l = [(lf-lo)/lo]*100 q = %RA = [(Ao-Af)/Ao]*100 Resilience is the capacity of a material to absorb energy when it is deformed elastically. Toughness is a measure of energy required to cause fracture. Poisson’s Ratio is the lateral contraction per unit breadth divided by the longitudinal extension per unit length. ÃŽ ½ =-( ∆d/do)/(∆l/lo)

Monday, November 25, 2019

history of labor in america essays

history of labor in america essays The Industrial Revolution was dawning in the United States. At Lowell, Massachusetts, the construction of a big cotton mill began in 1821. It was the first of several that would be built there in the next 10 years. The machinery to spin and weave cotton into cloth would be driven by water power. All that the factory owners needed was a dependable supply of labor to tend the machines. As most jobs in cotton factories required neither great strength nor special skills, the owners thought women could do the work as well as or better than men. In addition, they were more compliant. The New England region was home to many young, single farm girls who might be recruited. But would stern New England farmers allow their daughters to work in factories? The great majority of them would not. They believed that sooner or later factory workers would be exploited and would sink into hopeless poverty. Economic "laws" would force them to work harder and harder for less and less pay. How, then, were the factory owners able to recruit farm girls as laborers? They did it by building decent houses in which the girls could live. These houses were supervised by older women who made sure that the girls lived by strict moral standards. The girls were encouraged to go to church, to read, to write and to attend lectures. They saved part of their earnings to help their families at home or to use when they got married. The young factory workers did not earn high wages; the average pay was about $3.50 a week. But in those times, a half-dozen eggs cost five cents and a whole chicken cost 15 cents. The hours worked in the factories were long. Generally, the girls worked 11 to 13 hours a day, six days a week. But most people in the 1830s worked from dawn until dusk, and farm girls were used to getting up early and working until bedtime at nine o'clock. The factory ...

Thursday, November 21, 2019

I have three topic you can choose anyone Essay Example | Topics and Well Written Essays - 1000 words

I have three topic you can choose anyone - Essay Example Involuntary servitude became a federal crime that was punishable and male suffrage became guaranteed, while the US congress became the protector and enforcer of the amendments, as well as sustainer of the national government. Despite congress having the above roles, a number of things saw the rights of the black people being violated on a massive scale; moreover, this congress saw the people being violated. In this light, congress was made up of a majority of people from the north, who were voted into government by a majority. Therefore, for the northern people, the rights of the newly freed African Americans did matter much as their main idea was to have the United States resume their status as a union, as they were before the civil war. With this in mind, the rights of African Americans did little to achieve this goal thus; they were ignored for their bigger goal of restoring the union. This was in spite of having African Americans receive some degree of freedom and rights that the y could practice, but political ambitions crowded the congress and saw them denied of that which they required most, rights. To enjoy the freedoms and rights warranted to them during the reconstruction period, there was the Ku Klux Klan Act that was set against states and individuals that came between freed men and their rights that the federal government enforced with vigor. Some of the limitation to their rights and freedoms during this period included punishments that were a lot stricter than those given to white people for the same crimes were. As such, African Americans were harshly punished for breaking their contracts in that they were beaten, arrested, and forced into labor, in spite there being laws against people who offered higher amounts of money for the African Americans to break their contract. This shows how much they were violated in the labor scene as the law that the people applied only worked on one side, which was against the newly freed African Americans. In add ition, despite African Americans being in a position to testify in a court of law and state their case, African American women were violated and denied the chance to do so. This happened especially in cases where white men raped black women, as the law did not recognize black women as being in a position to attract white men, as they were even viewed by society as being vulgar and drawing attention to themselves. In addition to the issue of work, some employers forced African Americans to work in gangs, which was out rightly against their freedoms and rights, as they could choose where to live and how to work. These violations, based on the analysis of historical facts and occurrences were the result of mass election of northern people into congress, which saw public opinion shift to southerners being viewed as radicals. This is because the southerners spearheaded the reconstruction of African American lives by fighting for their and ensuring that they were protected. The violations also happened due to the presence of terrorist organizations that kept people away from the polls to elect their own candidates, which was further aggravated by the presence of black codes. These codes were in place since democrats did not want African Americans

Wednesday, November 20, 2019

Human Rescource Planning Essay Example | Topics and Well Written Essays - 1500 words

Human Rescource Planning - Essay Example However, Dale Lodge (case organization) is facing challenges regarding deploying the leadership development program for cross functional members while the company is expanding its operation to achieve more business success. In such context, the researcher has been hired as external HR consultant to advise senior management of the company on how to embed leadership development program within organization, to support anticipated growth strategy. In the next section, the study will cover three issues, 1- process for embedding leadership development program for members of management team, 2- proposal of reward strategy that would retain and develop talents at all level and 3- evaluation and measurement of critical success factors associated with the proposal. The company will face two types of problem while deploying leadership development program, problem 1- lack of cross functional capabilities among members of management team and it will create problem for them to perform current and future leadership roles and problem 2- lack of experience in handling change dynamics while deploying leadership program. For example; Oracle Corporation (2012) found that more than 70% of employees in different companies across the globe lack the leadership potential to perform during job responsibility shifting. In the case context, senior management of the company has decided to expand business operation in terms of opening full scale conference and leisure facilities which can offer year long services. In order to implement mentioned growth strategy, company needs to widen job roles of existing members in management team in order to develop leadership capabilities among them. Such cross functional role shift would require development of interpersonal skills instead of developing integrating technical expertise of experienced members in management team. Caligiuri (2006) and McCall and Hollenbeck (2002) also pointed out

Monday, November 18, 2019

The Royal British Legion Essay Example | Topics and Well Written Essays - 2500 words

The Royal British Legion - Essay Example It was this royal charter which gives the Legion the prefix 'Royal' in its title. Till date, the Legion is principally a campaigning organization which promotes the wellbeing and welfare of presently serving and retired members of the British Armed Forces. The first campaign of the Royal British Legion pertained to the campaigning for War Disablement Pension cases for war veterans. At present, campaigns of Royal British Legion which are ongoing include advocating for increased research into psychological conditions of  Gulf War syndrome  and for enhanced compensation for the victims of the war. Other campaigns by the organization include upgrading of War Pensions; the expansion of endowment mortgage payment for British military personnel that are serving outside the country. The key objective of the organization is better provision for support of British military personnel that are facing difficulties in resettling back into civilian life. One of the most successful campaigns of the organization is the one in which the Legion organized a fund-raising drive weeks before  Remembrance Sunday. During the course of this campaign supporters of the war veterans were required to wear artificial  red poppies on clothing. It was announced that the proceeds from the sales of the artificial poppy flowers will be donated to charity. Appeals for Charity The organization can use a number of appeals for raising charity. Two forms of marketing objectives can be relevant to this organization. The first one relates to recruitment of volunteers, the second one relates to collection of charity for the objectives of the organization. To increase inflows of charity funds to the organization, the Royal British Legion can organize a festival to commemorate celebrate war veterans. It is proposed that most parts of this festival should be composed of formal. The event can generate revenue for the organization through sale of the attendance tickets or sale of items related to cele brated wars. These wars can depict civilian life during wartime or based on similar themes. Such an event is likely to generate high attention of the prospective target market because it will enable viewers belonging generations that were born after these historic wars – for instance, the World War II – to benefit from the affirmative engagements of those people who want to relive glorified history of the nation. Another appeal for charity which can be used by The Royal British Legion is the support for foreign troops of United Kingdom who are engaged in military combat. The organization can launch an ‘Honor’ campaign which can call on the citizens of United Kingdom both within country and abroad to honor the  military men protecting country’s interest in foreign lands like Afghanistan (Beamish and Ashford, 2009). The objective of the campaign would be gather public support for the issues recognized by the Legion and to promote interests of milita ry men abroad. The same campaign can be used to create support of the federal government, as well, for the troops and to influence government to create laws which are beneficial for the interest of these men. One aspect of this campaign can be seeking priority treatment for military men in hospitals rather than having them to wait for treatment in national institutions. ‘Online Assistance of Military Men’ can be a campaign which can

Saturday, November 16, 2019

Majestic Wine Plc Uk Marketing Essay

Majestic Wine Plc Uk Marketing Essay Majestic Wine Plc. opened its original wine warehouse in 1980. This Wood Green, North London warehouse merged in 1991 with Wizard Wine, which, at that time belonged to Iceland, the frozen food group, (Sunday Times, 2010, p1). Majestic Wine was listed on the Alternative Investment Market in 1996. In 2009, it acquired Lay Wheeler, a Burgundy and Bordeaux wine specialist (Sunday Times, 2010, p1). The retailing of wines, beers and spirits is its principal business activity (Majestic Group, 2009, p1). This business report analyses the group performance for two financial years, to 29th. March, 2010. It recommend, on basis of appropriate performance ratios, (detailed in Appendices 1 4), that shareholders should buy more shares and augment their investment significantly if the group management shows a more aggressive and focused plan of expansion, accompanied by expansion of stores, the deployment of a more aggressive capital gearing ratio, and sharper operations management. Majestic has grown more than 12 fold from 1985, when it had only 12 shops, to 152 shops n 2010. It aims to expand its shop strength to 250 during the coming decade (Sunday Times, 2010, p1). Its sales are at a 10 year high, post the discarding of its policy of retailing only 12-bottle cases. Off-licences, (establishments selling alcohol for consumption off the premises), could in the 1980s operate only for a few hours every day, and even fewer over weekends. Warehouses circumvented this rule by posturing as wholesalers, thus compelling their customers to buy bulk 12-bottle cases (Goodway, 2010, p1). Steven Lewis, the feisty CEO of the company, tested and subsequently rolled out, from November 2009, a model allowing customers to buy a minimum of six bottles at a time (Goodway, 2010, p1). The policy was instrumental in increasing the number of customers by 54000 to 472000 in the course of a year (LSE, 2010, p1). The objective of this Business Report is to recommend to the shareholders of Majestic Wine PLC on augmentation or reduction of their investment in the company. The profitability ratios of the company reflect a marked improvement in terms of revenues, cost of sales and ROI. Most organisations opt to keep their debt low and cut their debt at the earliest (Jablonsky Barsky, 2001). Whilst such inclinations arise from the need to be conventional and secure in business, excessive eagerness to diminish debt frequently leads to poor utilisation of obtainable debt, higher costs and uneconomical capital gearing (Jablonsky Barsky, 2001, p 7-15). The practically unchanged working capital ratios reflect the maintenance of sub-optimal liquidity levels. The weak acid-test ratio can lead to a difficult situation if the need for liquidity arises on account of contingencies that need to be swiftly addressed. The long-term debts ratios reflect under capitalisation. The low gearing ratio reflects risk adverse tendencies, which can lead to slow growth in future. 2.2. Group Performance The group turnover for the 52 week period ending 29th March, 2010 at  £33.2m was up 15.6 percent, with the profit before tax at  £16.0m rocketing by an incredible 117 percent (LSE, 2010, p1). Appendix 4 summarises the group performance, as reported in the Preliminary Results for 2010. The Group has experienced strong cash generation during 2010, with operational cash-flows of  £21.2m during the year.  This figure is  £5.7m more than the  £15.5m generated during the previous year, and has essentially come about from the improvement in the underlying profit before tax during 2010. The Distribution and Administrative Costs have increased by 15.6 percent during 2009-10 as compared to the previous year. The EBIT (Earnings before finance costs and taxation) rose by 118.3 percent during the same period. The Profit before Taxation (PBT) grew sharply from  £7.4m to  £16.0m during 2009-10 year, registering an increase of 117 percent. The sales to private customers, which make up the mainstay of the business, have shored up well, even though sales to corporate customers has been unsatisfactory. The companys French operations have been hurt by a stronger Euro (Majestic Group, 2009, p1). This contributed to an exceptional non-cash charge of  £5.33m in 2009, which arose from the writing-down of the carrying value of the companys French retailing operations, Wine and Beer World (Majestic Group, 2009, p1). The companys purchase policy of reducing the minimum purchase of 12 bottles to 6 has led to excellent results, even as it needs to be recognised that it may be difficult to replicate this years soaring profits next year, because of challenges in manoeuvring even more supermarket customers through its shop entrances (ODoherty Kuchler, 2010, p1). Majestic is nevertheless working towards seizing mid-market space with a number of value-adding schemes like developing sales to gastropubs, increasing its wine-tasting programmes, and growing its fine wines business (ODoherty Kuchler, 2010, p1). Majestics market share at 3.4% leaves abundant room for growth (ODoherty Kuchler, 2010, p1). With its share trading at 20.3p per share at approximately 14 times its forecast earnings for 2011, higher than the average trading of its peer retailers at an average of 12 to 13p, Majestic, ODoherty Kuchler, (2010, p1) feel merits the premium and some more. The companys results are remarkable, considering that the underlying profit growth of 26 percent in 2010 has been achieved after accounting for the reduction of  £5.3m in the carrying value of the French operations (Hemming, 2010, p1). The business is well positioned to capitalise on its core strengths as the economic environment starts improving (Majestic Group, 2009, p1). The companys acquisition of Lay and Wheelers fine wine business in 2009 has contributed  £12.4m to 2010 sales (LSE, 2010, p1). It is to the credit of the group that the total dividend for the year has been raised by 5.1 percent, to 10.3p per share, against last years 9.8p, despite continuing market pressures (LSE, 2010, p1). The Underlying basic earnings per share (EPS) for 2010 at 18.4p were 31.4% higher than the 2009s 14.0p. The underlying diluted EPS for the same period at 18.3p rose 30.7% against the previous years figure of 14.0p. The basic EPS for 2010 at 18.4p was 247.2% more than the 2009s 5.3p. The diluted EPS for 2010 at 18.3p was 245.3% more than the 5.3p achieved in 2009 (LSE, 2010, p1). The average transaction expenditure at  £129 for 2010 is 4 percent lower than 2009, despite a growth of 14.6 percent to 1.7m in transaction numbers (LSE, 2010, p1). The UK like-for-like sales for the 10 week period from 30th.March, 2010 to 7th.June, 2010 rose 7.3 percent (LSE, 2010, p1). The company is expected to improve its sales in future. The retailers professional credentials and good service levels have produced considerable loyalty amongst its patrons, which will be of assistance in the present economic climate. Majestic will also probably not be impacted by the recommended changes to alcohol pricing as its focus is more on the superiority of its offering than on its price (TradingMarkets.com, 2010, p1). It is recommended that shareholders should steadily increase their investments. Larger positions should be taken if the group management shows persistent and aggressive efforts to achieve its growth target of 250 sites within a decade and change its conservative capital gearing. The company however needs to address its short term liquidity in order to be ready for short-term contingencies. 2.3. Mission Statement Majestic Wines progresses its mission of providing wine of high quality backed up with superior customer service through its clearly differentiated retailing model, with its core excellent value straddling the price range, its captivating product offering, and most of all, its compelling and distinguishing customer service proposition (Majestic Group, 2009, p1). The companys commitment to its mission is exemplified by the recognition accorded to it as the High Street Chain of the Year, in 2008, by the International Wine Challenge Awards. The Group was also awarded The Specialist Wine Chain of the Year by Decanter magazine in 2008 (Majestic Group, 2010, p1). The companys strength in customer services emanates from its ability in recruiting and retaining high quality graduate level staff, its continual investment in comprehensive training programmes, (widely accredited as best in the wine industry), and its focus on customer service, product knowledge and management (Majestic Group, 2010, p1). Majestic augments its specialist credentials by focusing on its staff training. New staff members tend to take the course qualifying for the Wine and Spirits Education Trusts (WSET) Advanced Certificate in six months. In fact, several employees train further: 149 staff members presently have, or are qualifying for the WSET Diploma, even as 7 of Majestics personnel received Excellence Awards from WSET in January 2010 (TradingMarkets.com, 2010, p1). Majestic distinguishes itself from its competitors is by cultivating strong customer relationships (TradingMarkets.com, 2010, p1). The company hosts numerous events, like wine tastings, and courses to enhance customer knowledge of wine (TradingMarkets.com, 2010, p1). Such approaches, combined with high service levels, have facilitated the retailer in trading its clientele up the value chain (TradingMarkets.com, 2010, p1). The latest annual results disclose that the average value for a bottle of still wine increased by  £0.21 and sales of bottles more than GBP20 grew by 22.7% in relation to the previous year (TradingMarkets.com, 2010, p1). Majestic aims to enhance its fine wine credentials by putting up fine wine display sections in all its stores in the next two years. Approximately around 50 percent of its present stores have such sections (TradingMarkets.com, 2010, p1). 2.4. Environmental Policies Many companies tend to confuse green concerns relating to their own businesses with elementary cost savings measures. This adversely affects the larger green issues that are related to implementation of green processes, products and technologies across such organisations. Environmental issues the company including the collections, reprocessing and disposal of the recyclable waste material. A pioneering lightweight British-designed bottle has facilitated the UK wine industry in meeting aggressive targets on reduction of its carbon emissions and glass waste (Greenwise, 2010, p1). The 300 grams (g) screw-cap bottle, the first worldwide, weighs 188g less than the average wine bottle and 40g less than the earlier lightest bottle produced in Britain (Greenwise, 2010, p1). It has been designed and developed, through the Waste Resources Action Programme (WRAP), by Quinn Glass and is currently being deployed by key supermarkets like Tesco (Greenwise, 2010, p1). The ground-breaking design is the outcome of a 4 year program known as GlassRite Wine launched by WRAP in 2006 to spot prospects within the wine sector to generate environmental- cum-commercial savings (Greenwise, 2010, p1). WRAP avers that the project currently has accomplished the targets, with which it was launched, of decreasing glass bottle weight by approximately 27,000 tonnes with using lighter weight bottles and increasing recycled glass usage in UK wine-bottle production by 44,295 tonnes per year (Greenwise, 2010, p1). In terms of CO2 savings, the project has further contributed almost 35,000 tonnes per annum (Greenwise, 2010, p1). Nicola Jenkin, in charge of WRAPs drinks category business, stated that huge opportunities are still present in using lighter-weight bottles in the global wine supply chain (Greenwise, 2010). She elaborated that the pioneering 300g wine bottle was presenting considerable potential in UK alone for reducing glass and carbon wastes (Greenwise, 2010, p1). Further, she clarified that use of these bottles for all wine sales within UK itself would produce glass saving of 153,000 tonnes per annum, equivalent to the weight of over 460 jumbo jets resulting in axing CO2 discharges by 119,000 tonnes (Greenwise, 2010, p1). Another major success of the GlassRite project has been in promoting bulk importation wherein the wine is transported in vats instead of being bottled at source (Greenwise, 2010, p1). Consequently, WRAP has confirmed that emissions have been cut by 40 per cent (Greenwise, 2010, p1). Majestic Wine would do well to adopt environmental friendly policies in view of the enormous potential for savings possible in adopting green processes and practices along its entire supply chain. 2.5. Majestic and Major Competitors strengths and weaknesses The retail wine industry is intensely competitive. The Group competes with numerous retailers of varying size in terms of criteria like quality, range, price and service. Failure to compete successfully could adversely impact the financial results. Apart from monitoring performance repeatedly against competitors in these spheres, the Group lessens its exposure by guaranteeing that the trade is differentiated from the competition by the quality, quantity and diversity of merchandise at every location, provision of wine expertise as well as dedicated car parking (Majestic Group, 2009, p1). We differentiate ourselves by the high quality of our customer service and advice, the diversity and quantity of stock available to purchase at each store, our dedicated on-site customer parking, wines to taste every day, the ability to order in-store or via our website and the availability of free delivery throughout mainland UK (Majestic Group, 2009, p2). Constellation Brands along with Fosters Group, owning brands including Lindemans, Hardys and Penfolds and employing thousands of personnel in UK, have charged the Government of demolishing the UK wine business with constant tax rises (Hall, 2010, p1). Both organisations have axed UK jobs and are already shifting investments to other European nations. Last year Fosters cut 10 percent of its UK labour force (Hall, 2010, p1). Peter Jackson, Fosters MD for Europe, Middle-East Africa division, stated that 55 percent of a  £4.32 priced wine bottle, an average UK price-tag, is spent on taxes; approximately  £1.60 is excise duty, 65p is VAT and 11p is the Common Customs Tariff (Hall, 2010, p1). Research conducted for The Sunday Telegraph reveals that, whilst the price of a wine bottle has risen by 25pc since Labour Government ascended to power in 1997, its duty has increased by 53.3 percent (Hall, 2010, p1). Earlier in the month EJ Gallo Winery, makers of wines including Turning Leaf and Carlo Rossi, stated that it will continue curtailing its UK range in 2010, because high levels of promotions and the brutal tax regime make it tough to do business (Hall, 2010, p1). Cheap alcohol traded by supermarkets has struck off-licence chains very hard. Wine Rack and First Quench owned Threshers collapsed last year benefiting Majestic (Sunday Times, 2010, p1). Majestic steer clear of challenging supermarkets on price but instead claims to provide more products and better service. Majestics share price has risen 38% in the past year to 272.5p, valuing it at  £167m (Sunday Times, 2010, p1). The UK is recognized worldwide as a sophisticated wine market and it is surprising that it short-changes sophisticated wine consumers the aspect of procuring fine wine by the single bottle (Sunday Times, 2010, p1). The number of high-quality wine shops has dropped sharply due to competition from supermarkets, which sell over 70% of wine in Britain, and high rents as well as the current growth in online wine sales (Sunday Times, 2010, p1). However, the finest places in UK to procure expensive wine are within London, where departmental stores like Harrods, Selfridges, Harvey Nichols and Fortnum Mason proffer fancy bottles at a price (Robinson, 2010, p1). The 2009-20 financial year results further highlight that specialists can be successful when faced with severe competition from supermarkets if they can offer outstanding levels of quality, service and range (TradingMarkets.com, 2010, p1).

Wednesday, November 13, 2019

The Importance of Successful Communication Essay -- Communication Proc

The importance in being able to effectively communicate with others is essential in our everyday lives. Although everyone participates in some process of communication, not everyone knows how to communicate well. Communication is a process involving the encoding and decoding of messages being sent and received by a source and receiver, respectively. Messages are sent through various channels, such as face-to-face interaction, electronic mail, text messages, and telephone. Depending upon the channel used to communicate a message, it may allow for the communication to be transactional or unilateral. All of this occurs within a certain context, and it may also include noise factors, such as cultural differences or physical distractions, that may disrupt the effectiveness of the message being communicated. The more knowledgeable one is of the multiple factors involved in the communication process, the better the chances of effective and efficient communication. In Organizational Behavior, John Schermerhorn et al believes that â€Å"it is useful to think of communication as a process of sending and receiving messages with attached meanings† (190). Mission Hospital is where I work, vast amounts of messages are sent and received daily, and depending on its availability, certain channels will be utilized. Due to the high volume of different messages, there is always the chance that some messages will be successful while others are not. An example of an unsuccessful message, where ...

Monday, November 11, 2019

Collecting Cartoon Models

Collecting cartoon models One of my favorite hobby I enjoy is collecting cartoon models. Collecting cartoon models is an important thing in my life. I like plastic model and come in pieces, I have to put them together. Plastic model is easier to save, this is why I don’t like glass models. I know model is in my primary school. If I like a cartoon I will collect a model of it. I have spent a long time collecting models. I started to collect models when I was 12 years-old. Near my primary school there is a model shop, where you can see many types of models. The owner has more than 3000 models in the shop because he likes models too.He is my friend now. My first model was bought in this shop. I bought a small size, it’s not expensive, but that is my favorite one. Every models I will spend a lot of times to search it, which standing is my favorite, which size is the best one. If I want buy a model, maybe I will prepare a long time. For example, I love Doraemon, he look like a blue cat, but no ears, because a mouse ate his ears, he is a robot. He has a younger sister, and he has many friends, the best one name’s Da Xiong, is Doraemon’s owner, he is very timid boy, but Doraemon always help him.I have more than hundred models about this cartoon, I have Da Xiong, Jing Xiang, Pang Hu, Xiao Fu, and Doraemon’s younger sister Dorami. My mother knows this hobby when I am 14 years-old, because I told her I want bought a display case, so I have a very big display case, it’s a glass one. The case has 7 shelves, it is tall than me, I think it can put 6 person like me in my display case, it is very big. I put my models in the display case, it must be very carefully. Because if you not carefully the models maybe will break or change their standing.Collecting models is fun thing to do, it is interesting for me. I like to assembly them by myself. It makes me happy and calm, the reason is because I need pay attention when I do it. When you a ssembling models and at the same time you try to do another thing, your models maybe can’t do like you want, you will have error, and make your models break. I have more than a thousand models, the biggest one is tall 115cm, like a person; the middle size needs more time to assembly them, because the middle size is easier than other ize to assembly it, they are the most complex; and the smallest size, you can put them on desk or car dashboard. I can change models color or standing, some models you can paint them by yourself, when you buy the models, in the packing box maybe they give you tools to paint. I like paint my models, but I am not a good painter. Collecting cartoon models is a fun hobby for me, I really enjoy it, it’s not easy for a beginner. If you just a beginner, maybe you don’t know how to deal some part, which part put together and use which color. That is a big problem.But when you start to assembly models, I am sure you will love it, because you accomplish a model by yourself, it can give you a chance to help you build your confidence, maybe you will say, â€Å"Look! I am the winner, I can complete it by myself! † If you want buy a model you like, you need search for them in many model stores, because at that time, model isn’t very popular in China, you need ask other and find the model stores, maybe the shop is in some small road, you may spend a lot of time searching for models and the way, if you want to have as many models as me. But it’s still fun for me after all these years. [pic] Collecting Cartoon Models Collecting cartoon models One of my favorite hobby I enjoy is collecting cartoon models. Collecting cartoon models is an important thing in my life. I like plastic model and come in pieces, I have to put them together. Plastic model is easier to save, this is why I don’t like glass models. I know model is in my primary school. If I like a cartoon I will collect a model of it. I have spent a long time collecting models. I started to collect models when I was 12 years-old. Near my primary school there is a model shop, where you can see many types of models. The owner has more than 3000 models in the shop because he likes models too.He is my friend now. My first model was bought in this shop. I bought a small size, it’s not expensive, but that is my favorite one. Every models I will spend a lot of times to search it, which standing is my favorite, which size is the best one. If I want buy a model, maybe I will prepare a long time. For example, I love Doraemon, he look like a blue cat, but no ears, because a mouse ate his ears, he is a robot. He has a younger sister, and he has many friends, the best one name’s Da Xiong, is Doraemon’s owner, he is very timid boy, but Doraemon always help him.I have more than hundred models about this cartoon, I have Da Xiong, Jing Xiang, Pang Hu, Xiao Fu, and Doraemon’s younger sister Dorami. My mother knows this hobby when I am 14 years-old, because I told her I want bought a display case, so I have a very big display case, it’s a glass one. The case has 7 shelves, it is tall than me, I think it can put 6 person like me in my display case, it is very big. I put my models in the display case, it must be very carefully. Because if you not carefully the models maybe will break or change their standing.Collecting models is fun thing to do, it is interesting for me. I like to assembly them by myself. It makes me happy and calm, the reason is because I need pay attention when I do it. When you a ssembling models and at the same time you try to do another thing, your models maybe can’t do like you want, you will have error, and make your models break. I have more than a thousand models, the biggest one is tall 115cm, like a person; the middle size needs more time to assembly them, because the middle size is easier than other ize to assembly it, they are the most complex; and the smallest size, you can put them on desk or car dashboard. I can change models color or standing, some models you can paint them by yourself, when you buy the models, in the packing box maybe they give you tools to paint. I like paint my models, but I am not a good painter. Collecting cartoon models is a fun hobby for me, I really enjoy it, it’s not easy for a beginner. If you just a beginner, maybe you don’t know how to deal some part, which part put together and use which color. That is a big problem.But when you start to assembly models, I am sure you will love it, because you accomplish a model by yourself, it can give you a chance to help you build your confidence, maybe you will say, â€Å"Look! I am the winner, I can complete it by myself! † If you want buy a model you like, you need search for them in many model stores, because at that time, model isn’t very popular in China, you need ask other and find the model stores, maybe the shop is in some small road, you may spend a lot of time searching for models and the way, if you want to have as many models as me. But it’s still fun for me after all these years. [pic]

Saturday, November 9, 2019

The Root of Our Nation’s Struggle with Racism by Sarah Jaquez Professor Ramos Blog

The Root of Our Nation’s Struggle with Racism by Sarah Jaquez In The Souls of Black Folk, written by W.E.B. Du Bois in 1903, the very first chapter â€Å"Of Our Spiritual Strivings† Du Bois elaborates on the difficulties of being a Black- American during a time of extreme turmoil and confusion. This plight was caused by the newly announced emancipation of slaves throughout the United States. Which caused leading African American men, such as W.E.B. Du Bois and Booker T. Washington, to seek answers to questions like: how do African Americans integrate into a caucasian dominated society? Both W.E.B. Du Bois and Booker T. Washington strove to fight the cultural conflict of prejudice and racial inequality that are still prevalent in today’s society. Booker T. Washington had a much more passive views towards the cultural conflicts at hand than W.E.B. Du Bois had years later.   As expressed in a speech called the Atlanta Compromise, Washington believed that it was of vital importance for Black men to be respected in the workforce and have the same economical power as white men. This would   allow their basic rights, such as voting, to come later on. Shortly after his speech Booker T. Washington received praise from many respected individuals; however, that praise was short lived. After the dust of this victory settled and Booker T. Washington’s message could be fully understood it received much criticism, especially from W.E.B. Du Bois. Many of Washington’s critics, including Du Bois, believed that Washington’s approach to racial equality in a post slavery world was far too passive for the hateful and violent world that surrounded them. Du Bois wanted his natural rights protected as it states in the consti tution that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness. Nothing in this statement mentions race; therefore, to Du Bois, Black men should not be excluded from these unalienable rights. W.E.B. Du Bois seemed to see being Black as a much bigger burden than Booker T. Washington. In fact, Du Bois coined the well known term â€Å"double-consciousness† which is defined in the Stanford Encyclopedia as â€Å"those whose identity is divided into several facets.† This is a broader and more current definition of the term as it is still a relevant topic today. Du Bois’ definition of double-consciousness was primarily confined to describing Black Americans. He states his own experiences of his self proclaimed â€Å"twoness† as â€Å"a sense of looking at oneself through the eyes of others.† He sees being a Black and an American as â€Å"two unreconciled strivings,† or two different identities that can never be united peacefully. Double consciousness is caused by the separation of races in America, especially after the emancipation proclamation. In the eyes of society, especially at the time, the color of an African American’s ski n would forever represent the hardships they faced pre-civil war and the shame of those who inflicted those everlasting wounds. This causes racialized oppression and disapproval of being Black in a white dominated society. In modern America, this twoness is still prevalent today. In 2013, Barack Obama gave a speech in response to the Trayvon Martin verdict. He mentions that what happened to Trayvon could have easily happened to any Black man, including himself. Obama then notes that â€Å"in the African American community at least, there’s a lot of pain around what happened here, I think it’s important to recognize that the African American community is looking at this issue through a set of experiences and a history that doesn’t go away.† Obama shares that all Black men, including himself, experience the effects of double consciousness whether it be being followed in the grocery store or hearing cars be locked as they pass by. In this same speech, Obama recognizes that there   Ã¢â‚¬Å"is a history of racial disparities in the application of our criminal laws.† In comparing this speech with W.E.B. Du Bois The Souls of Black Folk, it easy to see that they are both figh ting for the same dream. That dream is to be respected as an equal in the eyes of the law and the United States political system. Although it may not have been simply natural rights that Obama is looking for, he was still striving for fairness on how the law is applied to Black men. For W.E.B. Du Bois’ 100th birthday Martin Luther King Jr gave a speech called â€Å"Honoring Du Bois.† In this speech King mentions the â€Å"twisted logic [that] if a Black man was inferior he was not oppressed,† because where a Black man stood in society was reasonable given his intellect. This is a common justification for the treatment of African Americans throughout the United States. This â€Å"twisted logic† justified acts of violence towards African Americans and reinforced the passage of Jim Crow laws among many other disgraceful acts. It can be said that the same justifications are made today. In the same speech for Trayvon given by President Barack Obama he states, â€Å"we need to spend some time in thinking about how do we bolster and reinforce our African American boys†¦ There are a lot of kids out there who need help who are getting a lot of negative reinforcement.† It seems likely that this negative reinforcement is due to the p rior twisted logic. These boys need to be bolsted due to generations of mistreatment and denial by the government and its people. Du Bois states, â€Å"he would not bleach his Negro soul in a flood of white Americanism, for he knows that Negro blood has a message for the world,† telling his African American readers that the hardships they faced are lesson for the world. The sentiment also suggest that if African Americans can   just be accepted by the white community it would be beneficial for the nation as a whole. While addressing the Trayvon Martin verdict Obama asks us to have conversations in homes, churches, workplaces and if we can ask ourselves or eachother, â€Å"Am I judging people as much as I can, based on not the color of their skin, but the content of their character?† because this stems the true root of our nation’s struggle with prejudice and racial inequality. Work Cited Du Bois, W. E. B. The Souls of Black Folk. Chicago: A.C. McClurg Co.; [Cambridge]: University Press John Wilson and Son, Cambridge, U.S.A., 1903; Bartleby.com, 1999. King, Martin Luther, Jr., 1929-1968. Honoring Dr. Du BoisW. E. B. Du Bois Papers (MS 312). Special Collections and University Archives, University of Massachusetts Amherst   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Libraries Obama, Barack. â€Å"Remarks by the President on Trayvon Martin.† National Archives and Records Administration, National Archives and Records Administration, obamawhitehouse.archives.gov/the-press-office/2013/07/19/remarks-president-trayvon-m artin. Pittman, John P. â€Å"Double Consciousness.† Stanford Encyclopedia of Philosophy, Stanford University, 21 Mar. 2016, plato.stanford.edu/entries/double-consciousness/. Washington, Booker T. â€Å"Atlanta Compromise† Cotton States and International Exposition, 18 September 1895, Atlanta, Georgia.

Wednesday, November 6, 2019

The Sociology of Social Inequality

The Sociology of Social Inequality Social inequality results from a society organized by hierarchies of class, race, and gender that broker access to resources and rights in ways that make their distribution unequal. It can manifest in a variety of ways, like income and wealth inequality, unequal access to education and cultural resources, and differential treatment by the police and judicial system, among others. Social inequality goes hand in hand with social stratification. Overview Social inequality is characterized by the existence of unequal opportunities and rewards for different social positions or statuses within a group or society. It contains structured and recurrent patterns of unequal distributions of goods, wealth, opportunities, rewards, and punishments. Racism, for example, is understood to be a phenomenon whereby access to rights and resources is unfairly distributed across racial lines. In the context of the U.S., people of color typically experience racism, which benefits white people by conferring on them white privilege, which allows them greater access to rights and resources than other Americans. There are two main ways to measure social inequality: inequality of conditions, and inequality of opportunities. Inequality of conditions refers to the unequal distribution of income, wealth, and material goods. Housing, for example, is inequality of conditions with the homeless and those living in housing projects sitting at the bottom of the hierarchy while those living in multi-million dollar mansions sit at the top. Another example is at the level of whole communities, where some are poor, unstable, and plagued by violence, while others are invested in by business and government so that they thrive and provide safe, secure, and happy conditions for their inhabitants. Inequality of opportunities refers to the unequal distribution of life chances across individuals. This is reflected in measures such as level of education, health status, and treatment by the criminal justice system. For example, studies have shown that college and university professors are more likely to ignore emails from women and people of color than they are to ignore those from white men, which privileges the educational outcomes of white men by channeling a biased amount of mentoring and educational resources to them. Discrimination of an individual, community, and institutional levels is a major part of the process of reproducing social inequalities of race, class, gender, and sexuality. For example, women are systematically paid less than men for doing the same work, and sociologists have conclusively demonstrated that racism is built into the very foundation of our society, and is present in all of our social institutions. Two Main Theories of Social Inequality There are two main views of social inequality within sociology. One view aligns with the functionalist theory, and the other aligns with conflict theory. Functionalist theorists believe that inequality is inevitable and desirable and plays an important function in society. Important positions in society require more training and thus should receive more rewards. Social inequality and social stratification, according to this view, lead to a meritocracy based on ability.Conflict theorists, on the other hand, view inequality as resulting from groups with power dominating less powerful groups. They believe that social inequality prevents and hinders societal progress as those in power repress the powerless people to maintain the status quo. In todays world, this work of domination is achieved primarily through the power of ideology, our thoughts, values, beliefs, worldviews, norms, and expectations, through a process known as cultural hegemony. How Sociologists Study Social Inequality Sociologically, we can study social inequality as a social problem that encompasses three dimensions: structural conditions, ideological supports, and social reforms. Structural conditions include things that can be objectively measured and that contribute to social inequality. Sociologists study how things like educational attainment, wealth, poverty, occupations, and power lead to social inequality between individuals and groups of people. Ideological supports include ideas and assumptions that support the social inequality present in a society. Sociologists examine how things such as formals laws, public policies, and dominant values  both lead to social inequality, and help sustain it. For example, consider this discussion of the role that words and the ideas attached to them play in this process. Social reforms are things such as organized resistance, protest groups, and social movements. Sociologists study how these social reforms help shape or change social inequality that exists in a society, as well as their origins,  impact, and long-term effects. Today, social media plays a large role in social reform campaigns and was harnessed in 2014 by British actress Emma Watson, on behalf of the UN, to launch a campaign for gender equality called #HeForShe.