Wednesday, May 20, 2020

Picking the Right Security Certification

As the world gets more connected, it also gets less safe. And as more and more information is exchanged via email and websites, and more folks buy stuff online, more data and money is at risk than ever before. That’s why those with technical certifications in security are becoming more and more in demand. But there is a lot to choose from; which one might be right for you? We’ll give an overview of the most popular, and in-demand, security certifications you can get. For this article, we’re going to look at vendor-neutral certifications, which means specialized credentials from security companies like CheckPoint, RSA, and Cisco won’t be included. These certifications teach general security principals  and will have the widest range of usability. CISSP The CISSP, from the International Information Systems Security Certification Consortium, known as (ISC)2, is generally considered the hardest security title to get, and the most well-regarded as well. How hard is it? You’re not even eligible unless you have five years of security-specific experience. It also requires an endorsement by someone who can attest to your experience and qualifications. Even if you pass the exam, you may still be audited. That means (ISC)2 can investigate and make sure you have the experience you claim to have. And after that, you need to recertify every three years. Is it worth it? Most CISSPs would tell you yes  because the CISSP certification is the name hiring managers and others know. It verifies your expertise. As security expert Donald C. Donzal of The Ethical Hacker Network says, many consider the CISSP â€Å"the gold standard of security credentials.† SSCP The baby brother of the CISSP is the Systems Security Certified Practitioner (SSCP), also by (ISC)2. Like the CISSP, it requires passing an exam, and has the same rigorous checks in place, like needing an endorsement and the possibility of being audited. The main difference is your knowledge base is expected to be smaller, and you only need one year of security experience. The test is much easier, as well. Still, the SSCP is a solid first step into your security career  and is backed by (ISC)2. GIAC The other major vendor-neutral certification organization is the SANS Institute, which oversees the Global Information Assurance Certification (GIAC) program. GIAC is SANS’ certification arm. The GIAC has multiple levels. The first is the Silver certification, which requires passing a single exam. It has no real-world component, making it of dubious value in the eyes of potential employers. All you really need to do is be able to memorize the material. Above that is Gold certification. This requires writing a technical paper in your area of expertise in addition to passing a test. This adds significantly to the value; the paper will demonstrate an individual’s knowledge of a subject; you can’t fake your way through a technical paper. Finally, the Platinum certification is at the top of the heap. It requires a proctored, two-day lab practical after achieving Gold certification. It’s given only at certain times of year  during a SANS conference. This could be a stumbling block to some certification-seekers, who may not have the time or money to fly to another city to take a lab test over a weekend. If, however, you make it through that process, you’ve proven your skills as a security expert. Although not as well known as the CISSP, a GIAC Platinum credential is certainly impressive. Certified Information Security Manager (CISM) CISM is administered by the Information Systems Audit and Control Association (ISACA). ISACA is more well known for its CISA certification for IT auditors, but CISM is making a name for itself as well. The CISM has the same experience requirement as the CISSP – five years of security work. Also, like the CISSP, one test must be passed. A difference between the two is that you need to do some continuing education every year. The CISM appears to be as rigorous as the CISSP, and some security pros think it is actually more difficult to get. The reality, though, is that it is still not as well known as the CISSP. That should be expected, however, given that it didn’t exist until 2003. CompTIA Security+ On the lower end of security certifications, CompTIA offers the Security exam. It consists of one 90-minute exam with 100 questions. There is no experience requirement, although CompTIA recommends two or more years of security experience. Security should be considered entry-level only. With no required experience component and a simple, short test, its value is limited. It might open a door for you, but only a crack.

Wednesday, May 6, 2020

Life Is Suffering Siddhartha Gautama, The Man Who Would...

Sean Hronek Keith Bickley Intro to World Religions 04/05/17 Life is Suffering Siddhartha Gautama, the man who would be Buddha, set out when he was very young to find something. He had been sheltered for all his life, given everything he could ever desire, but even so he was not satisfied or content with his existence. When he exited his confinement, he realized the world around him was suffering, and he did not know what to do. That is what he went looking for, a cure, a cure to human suffering. He never found it in his lifetime, though he knew of its existence and knew he would reach it eventually. He did, however, discover a treatment that could lead to the cure. It was this discovery, brought about by spending a little more than a month†¦show more content†¦Some schools of Buddhism do think that gods, devils, and spirits may very well exist, but these entities did not bring the universe into existence and likely have their own problems to deal with. In other words, there’s no grand plan, just a great spinning cosmos that we all happen to liv e in. It’s similar to the views held by Friedrich Nietzsche, a man most famous for coining the phrase â€Å"God is dead†. Now while that may seem straightforward enough at a passing glance, most people don’t know the full quotation. Truthfully that might be for the best, given that Nietzsche’s actual meaning is a lot more depressing than simple deicide. â€Å"God is dead. God remains dead. And we have killed him. How shall we comfort ourselves, the murderers of all murderers? What was holiest and mightiest of all that the world has yet owned has bled to death under our knives: who will wipe this blood off us? What water is there for us to clean ourselves? What festivals of atonement, what sacred games shall we have to invent? Is not the greatness of this deed too great for us? Must we ourselves not become gods simply to appear worthy of it?† This is not a cry of victory; this is a cry of anguish. The phrasing is meant to be somber poetry, which it is, but it can be hard to decipher his actual meaning as a result. What Nietzsche is trying to say is that in the wake of the Enlightenment and the perfection of the Scientific Method, previouslyShow MoreRelated The Use of Hesse Siddhartha to Reflect the Legendary Atmosphere of Buddha1486 Words   |  6 PagesThe Use of Hesse Siddhartha to Reflect the Legendary Atmosphere of Buddha Siddhartha is one of the names of the historical Gautama, and the life of Hesses character resembles that of his historical counterpart to some extent. Siddhartha is by no means a fictional life of Buddha, but it does contain numerous references to Buddha’s philosophies and his teachings. 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Tesco Financia Statement & Ratio Analysis - Free Solution

Question: Analyse the financial performance of the two companies based on your calculations, identifying and discussing the purposes of calculating those ratios and the weaknesses of ratios analysis. Answer: Introduction The main objective of accounting is to provide information to the decision makers (Peterson Drake and Fabozzi, 2012). Financial statement is an organized statement which is prepared to know the operating performance, financial position, disposal of surplus and movement of short term assets, cash position and total fund position. Financial statement analysis is the examination of historic financial data with the use of several financial tools such as Ratio analysis, Cash Flow statements, Profit Loss Account and Balance sheet. The main purpose of analyzing financial records is to evaluate the companys present performance and estimate the future potential and risk appetite of the company. These statements generates those information which are valuable for the organization, ensure the quality of earnings and helps in doing the SWOT analysis of a company. In this study for financial analysis of two companies namely Tesco and Sainsbury(Anon, 2015) are taken into consideration and their standard of performance are analyzed on the basis of three accounting period 2012, 2013 and 2014 (Anon, 2015). Company background Tesco is one of the largest retailers in the world. It was founded by Jack Cohen in the year 1919 from a small market at London. As the time passes this company grows and today it is operating across 12 countries in the world. They employ almost 530000 people and serve millions of customer every week. Their main two competitors in the world market are Wal-Mart and Carrefour. Sainsbury is another renowned company in retail sector and older than Tesco company. It was formed in 1869 and today it operates over almost 12000 supermarket and convenience store. They have employed almost 161000 persons who served on behalf of the company. They demanded that they provide best possible service to their customers among all the retail sectors in the same category (Collis, Holt and Hussey, 2012). Financial performance analysis TESCO Sainsbury- A comparative analysis As I have already mentioned that for performance analysis of a particular firm several techniques are used and ratio analysis is one of the important factors among those all. So here the analysis is mainly done on the basis of Ratios (Campilho and Kamel, 2012): (Collings, 2015). Profitability ratios Profitability ratios as the name suggest are those ratios which are used to measure the profitability of a company. Profitability means the return achieved by the efforts of management on the fund invested by the owners of the business. It is a net result of large number of policies and decisions. Long term profitability is vital for a companys survival and benefits received by the shareholder. There are many ratios which can indicate the profitability but out of those some main ratios are Gross profit ratio, Net Profit Ratio and Operating profit ratio (Drury, 2012). Gross Profit ratio is calculated on the basis of net sales revenue. It represents the percentage of gross profit earned by a company on sales. Gross profit means the profit earned from direct trading activities. The gross profit ratio of Tesco for the year 2014 is 4010/63557*100=6.3%, for the year 2013 is 4154/63406*100=6.6% and for the year 2012 is 5261/64539*100=8.2%. A high Gross Profit ratio indicates a good profitability. However, in Tesco Company is balance sheet analysis it is found that, their Gross Profit ratio in 2013 and 2014 were 6% (approx) compared to 8% in 2012. The gross profit ratio of Sainsbury for the year 2014 is 1387/23494*100=5.9%, for the year 2013 is 1277/23303*100=5.5% and for the year 2012 is 1211/22294*100=5.4%. The reduction in Gross Profit ratio may be due to the fewer amounts of sale in 2014 and higher amount of Cost of sales in 2013 whereas in case of Sainsbury Company, though their Gross Profit ratio is less than Tesco but it is in increasing trend (Robinson, 2012). Operating Profit ratio is another tool used for profitability evaluation. Operating profit means the profit which can be derived from the Gross Profit after deducting the operating expense from the Gross profit. This approach is efficient than Gross Profit approach as the analysis is based on more accurate financials. The operating profit ratio of Tesco for the year 2014 is 2631/63557*100=4.1%, for the year 2013 is 2382/63406*100=3.8% and for the year 2012 is 3985/64539*100=6.2%. In Tesco, the trend of the operating ratio is in a zigzag manner as in 2012 it was 6%, in 2013, it was 3% and in 2014, it was 4%. Overall, the ratio is drastically decreases by 50% (approx) in 2013 and though it has increased to some extent in 2014 still it is not much satisfactory. The operating profit ratio of Sainsbury for the year 2014 is 1009/23494*100=4.2%, for the year 2013 is 882/23303*100=3.8% and for the year 2012 is 874/22294*100=3.9%. In Sainsbury Company, it maintains a stable growth as this ratio is not fluctuating widely. Net Profit ratio is the most accurate technique used for profitability analysis as the net profit is derived after eliminating all indirect expenses from operating profit. The net profit ratio of Tesco for the year 2014 is 970/63557*100=1.53%, for the year 2013 is 24/63406*100=0.04% and for the year 2012 is 2814/64539*100=4.36%.The Net Profit ratio of Tesco shows a drastic fall in the year 2013 from 4.36% to 0.04%. In this year the company had to adjust a huge amount of loss from its discontinued operations which may be one of the reasons of this fall. In 2014, they showed an increasing trend compare to previous year. The net profit ratio of Tesco for the year 2014 is 970/63557*100=1.53%, for the year 2013 is 24/63406*100=0.04% and for the year 2012 is 2814/64539*100=4.36%.Sainsbury also did not perform very well but its condition is better than Tesco. Liquidity ratios Liquidity ratios show the liquidity position of a company. Liquidity means the amount of cash and cash equivalents the firm has on hand and the amount of cash it can arrange in a short period of time. Liquidity is essential for smoothly conducting of business activities. If the firm has a poor liquidity position it may not able to make timely payments to the creditors and, in effect will not be in a position to buy goods and service further on credit. High liquidity can help to grasp different market opportunities. The most two important liquidity ratio is current ratio and quick ratio (Alan Russell, R. Langemeier and C. Briggeman, 2013); (Collis, Holt and Hussey, 2012). Current ratio is also known as the working capital position ratio. It shows whether a companys short term debt is capable of paying off its short term liabilities. Higher the ratio better will be the companys position. The ideal ratio is always 2:1 i.e. for 1-rupee debt there should be rupees two as current asset. The current ratio of Tesco for the year 2014 is 13085/20206=0.65, for the year 2013 is 12465/18703=0.67 and for the year 2012 is 12353/19180=0.64. In Tesco Company, the current ratio is not at all in a good position as in all the 3consequtive years the ratio is below 1 i.e. there are not enough current assets to pay of the current liabilities. The current ratio of Sainsbury for the year 2014 is 1612/4847=0.33, for the year 2013 is 1677/4667=0.36 and for the year 2012 is 1572/4651=0.34. In Sainsbury Company also the ratio is too bad rather it is in diminishing trend. Quick ratio is also known as the Acid Test Ratio. This ratio further redefines the liquidity by measuring the quick assets and quick liabilities. These ratios exclude those items which are difficult to turn into cash like inventory, prepaid expense. The reason for the omission of stock from the current asset may be that stock can be valued in different ways by different firms. Quick ratio is often compared with current ratio. If the quick ratio is comparatively higher it indicates the dependency on the inventory. The quick ratio of Tesco for the year 2014 is 9509/20206=0.47, for the year 2013 is 8721/18703=0.47 and for the year 2012 is 8755/19180=0.46. In case of this ratio also the Tesco Company shows an unsatisfactory image as this is also below 1 it implies the company does not have enough cash and cash equivalent to pay off its liabilities. The quick ratio of Sainsbury for the year 2014 is 1612/4847=0.33, for the year 2013 is 1677/4667=0.36 and for the year 2012 is 1572/4651=0.34. One interesting thing happened in case of Sainsbury because in Balance sheet the company does not have any inventory balance so the quick ratio is same as its current ratio. Efficiency ratios Each performance has some standard and when the performance goes beyond the standard it is known to be an efficient performance. The efficiency ratios are the indicator of measuring the efficiencies. Receivable collection period, inventory turnover, interest coverage ratio etc are the commonly used efficiency indicators (Foroughi, 2012). Asset turnover ratio is indicating the availability of total assets on the basis of sales revenue earned. It also reveals the extent of utilization of the total asset into the business. The ratio proves the efficiency of the management in operational activities. Higher the ratio better will be the position. The asset turnover ratio of Tesco for the year 2014 is 50164/63557=1.27, for the year 2013 is 50129/63406=1.26 and for the year 2012 is 50781/64539=1.27. Tesco Company have almost stagnant turnover ratio among the three periods. The ratio above 1 indicates that the company is able to earn more than rupee 1 by its sales revenue after utilizing rupee 1 as asset. The asset turnover ratio of Sainsbury for the year 2014 is 10485/23949=2.28, for the year 2013 is 10441/23303=2.23 and for the year 2012 is 10342/22294=2.16.The Asset Turnover Ratio of Sainsbury is too good as it is more than 2 in three years representing that their revenue is almost double of their assets. Receivables collection period show the time allowed to debtors. It is the lag of time interval for collecting the dues from the debtors. It can also be termed as debtors collection period. A high turnover ratio indicates that the company cannot be able to collect the amount from their customers as a result cash is being blocked into it and its liquidity position is affected. Here in the ratio calculation it is found that their receivable collection period is low it indicates that the company is having a good receivable management policy as low the collection period means higher frequency of collection and lower the risk of bad debt. The receivable turnover ratio of Tesco for the year 2014 is 2190/63557=29.02, for the year 2013 is 2525/63406=25.11 and for the year 2012 is 2657/64539=24.29. Thus, the collection period for Tesco is in 2014 is 12.58, in 2013 is 14.53 and in 2012 is 15.03. The receivable turnover ratio of Sainsbury for the year 2014 is 1428/23949=16.77, for the year 2013 is 1254/23303=18.58 and for the year 2012 is 1099/22294=20.29. Thus, the collection period for Sainsbury is in 2014 is 21.76, in 2013 is 19.64 and in 2012 is 17.99. In case of Sainsbury, also the collection period is low though the frequency is less then Tesco. Payable turnover period is just opposite like the receivable collection period. It indicates the credit period allowed by the suppliers for making payment to them. A high turnover period indicates high obligation. The payable turnover ratio of Tesco for the year 2014 is 10595/59547=5.62, for the year 2013 is 11094/59252=5.34 and for the year 2012 is 11234/59278=5.28. Thus, the payable period for Tesco is in 2014 is 64.94, in 2013 is 68.34 and in 2012 is 69.17. The payable turnover ratio of Sainsbury for the year 2014 is 4457/22562=5.06, for the year 2013 is 4571/22026=4.82 and for the year 2012 is 4494/21083=4.69. Thus, the payable period for Sainsbury is in 2014 is 72.10, in 2013 is 75.75 and in 2012 is 77.80. Both Tesco and Sainsbury had too high payment period of 69 days and 77days respectively in 2012 and after that it has reduced its period to 64 days and 72 days in 2014. Inventory turnover period is the time lag which represents how many times inventory is ordered in a particular year. On the other terms, it shows the frequency in which inventory is cleared and new order can be made. A low inventory turnover indicates a good inventory management policy. The inventory turnover ratio of Tesco for the year 2014 is 3576/59547=16.65, for the year 2013 is 37445/9252=15.83 and for the year 2012 is 3598/59278=16.48. Thus, the inventory turnover period for Tesco is in 2014 is 21.92, in 2013 is 23.06 and in 2012 is 22.15. For the three consecutive years, Tesco have a good inventory turnover, which indicates that it has a well-organized inventory management policy and there is less chance of inventory pileup. The inventory turnover ratio of Sainsbury is not possible as it has no inventory given in its balance sheets. There is no balance available in the B/S of Sainsbury regarding the inventory so it is not possible to calculate the Inventory Turnover. Interest coverage ratio is used for calculating the financial stability of the company. It shows the number of time a company is able to pay its interest obligation based on earned profit. It is calculated by dividing the EBIT by interest. A high interest coverage period indicates a high financial leverage. The interest coverage ratio of Tesco for the year 2014 is 2337/78=29.96, for the year 2013 is 2134/82=26.02 and for the year 2012 is 3949/114=34.64. The interest coverage ratio of Sainsbury for the year 2014 is 924/26=35.54, for the year 2013 is 804/32=25.13 and for the year 2012 is 823/35=23.51. Tescos ratio analysis calculation shows that it had a very good interest coverage ratio in 2012 but all on a sudden it reduced by almost 50% in 2013 and then again it started increasing in 2014 whereas Sainsbury has 23.51 as interest coverage in 2012 which increase to 35.53 in 2015 indicating an upward movement of interest paying capability. Different group of investors provides long-term capital of a business. Gearing is a method of comparing how much the long-term capital of a business is financed by equity and how much is provided by fixed charged capital investors who are entitled to get interest before the payment of dividend to the shareholders. Financial gearing ratio can also be termed as Debt Equity ratio. It is showing the proportion of external debt of a company on which the company has to pay fixed interest obligation to the internal debt, which is known as the owners equity. The ideal ratio is 1:1. The debt equity ratio of Tesco for the year 2014 is 2009/14722=0.14, for the year 2013 is 887/16661=0.05 and for the year 2012 is 1966/16623=0.12. The debt equity ratio of Sainsbury for the year 2014 is 388/4369=0.09, for the year 2013 is 89/4259=0.02 and for the year 2012 is 338/4233=0.08. Both companies are having financial gearing ratio less than 1 it implies that these companies are more dependent on their internal fund (S and Suresh Kumar, 2013). Equity gearing ratio is the ratio between total asset and total equity. By this ratio we can say that how a company utilizes its owners equity for acquiring its assets. A higher ratio indicates an efficient performance. The equity gearing ratio of Tesco for the year 2014 is 14722/50164=0.29, for the year 2013 is 16661/50129=0.33 and for the year 2012 is 16623/50781=0.33. The equity gearing ratio of Sainsbury for the year 2014 is 4369/10485=0.42, for the year 2013 is 4259/10441=0.4079 and for the year 2012 is 4233/0.409=0.08. For the Tesco equity gearing ratio, is good as it is less than 1 and gradually decreasing. For Sainsbury it is in stagnant condition. Weakness of ratio analysis There are few limitations of ratios, which are as follows Ratios are calculated based on past results, so, proper prediction for future may not always be possible. Comparison of the ratios with the other units will be meaningless if the uniformity has not been observed in the preparation of the accounts of these units. Financial system suffers from a number of limitations. When the ratios are constructed from those financial statements, ratios suffer from the inherent weakness of the accounting system itself. Accounting ratios are simply clues. They do not indicate any cause of difference. Therefore they are not considered as basis for immediate conclusions. Ratios are not free from individual bias, because accounting is manmade. Two same type of business with the same level of operation may show highly incomparable financial results. While constructing a ratio arithmetic window dressing is possible by concealing vital facts and presenting the financial statements in such a fashion as to show the business in a better position than it actually is (Seal, Garrison and Noreen, 2012). Recommendations Following are my recommendations for the two companies From the Tesco companysbalance sheet it is observed that it has suffera huge loss from its discontinuing operations as a result their net profits are reducing, they should try to increase their revenue by cutting down unnecessary costs (Karelskaya and Zuga, 2012); (Kieso, Weygandt and Warfield, 2012). For Sainsbury Company they should change their payable management policy. It requires paying their dues in less time interval as a result their current ratio may improve. The same suggestion is applicable for Tesco also. The financial position of Sainsbury is not too bad so they can trade with more of debt capital for getting the benefit of trading on equity. Their interest coverage ratios are also quite good. Tesco should make new investments in different financial assets and instruments, which will give a fixed return to their company, and that return can be utilized for further expansion. The cash flow statement of Tesco shows a negative balance generated from all activities. The company should make proper investigation for revealing the reasons behind it (Kusano, 2012). Lastly, both the companies are very reputed company so they should try to take the benefit of competitive advantage by using their core competencies so that they can able to sustain in this competitive market. Conclusion Conclusion means the end report of the project or the summary of the whole study in brief. This study is concerned with the financial analysis of two firms on the basis their ratios. But reaching any particular conclusion only on the basis of ratio is not too accurate because there are some other factors influencing the financial decision. But if we want to incorporate all these factors into this study then it will be too elaborative. So here the initiative is taken to conclude the report on the basis of Ratios only (Llewelyn, 2012); (Marilena and Alice, 2012). Ratios are calculated from the various accounting data for establishing the logical relationship between them and for explanation and analysis of various accounting information. From the above discussions, relating with ratios the following conclusions can be made. Tesco Company has a higher Gross profit margin than Sainsbury though but later its fails to maintain its position and net profit ratio become too low. The liquidity position of Tesco is comparatively better than the other one. From the view point of efficiency in all the cases Sainsbury shows better result than Tesco except in Payable management policy. Sainsbury Company does not show any inventory amount though it reduces the dependency on inventory but it is not at all a good sign. So I would like to conclude that the business of Sainsbury is more consistent than the Tesco and both companies should take some measures to overcome their liquidity and profitability crunch (Goodhart, 2013): (Jury, 2012). References Alan Russell, L., R. Langemeier, M. and C. Briggeman, B. (2013). The impact of liquidity and solvency on cost efficiency. AgriculturalFINANCE Review, 73(3), pp.413-425. Anon, (2015). 1st ed. Anon, (2015). 1st ed. Campilho, A. and Kamel, M. (2012). Image analysis and recognition. Berlin: Springer. Collings, S. (2015). Interpretation and Application of UK GAAP. Hoboken: Wiley. Collis, J., Holt, A. and Hussey, R. (2012). Business accounting. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan. Drury, C. (2012). Management and cost accounting. Andover: Cengage Learning. Foroughi, K. (2012). Market-consistent valuations and Solvency II: Implications of the recent financial crisis. Br. Actuar. J., 17(01), pp.18-65. Goodhart, C. (2013). Ratio controls need reconsideration. Journal of Financial Stability, 9(3), pp.445-450. Jury, T. (2012). Cash Flow Analysis and Forecasting. Hoboken: Wiley. Karelskaya, S. and Zuga, E. (2012). BALANCE-SHEET THEORY OF A.P. ROUDANOVSKY.ecoman, 17(1). Kieso, D., Weygandt, J. and Warfield, T. (2012). Intermediate accounting. Hoboken, NJ: Wiley. Kusano, M. (2012). Does the Balance Sheet Approach Improve the Usefulness of Accounting Information?. The Japanese Accounting Review, 2(2012), pp.139-152. Llewelyn, H. (2012). Likelihood ratios are not good for differential diagnosis. BMJ, 344(may28 1), pp.e3660-e3660. Marilena, Z. and Alice, T. (2012). The Profit and Loss AccountMajor Tool for the Analysis of the Company's Performance. Procedia - Social and Behavioral Sciences, 62, pp.382-387. Mook, L. (2013). Accounting for social value. Toronto, ON: University of Toronto Press. Peterson Drake, P. and Fabozzi, F. (2012). Analysis of financial statements. Hoboken, N.J.: Wiley. Robinson, T. (2012). International financial statement analysis workbook. Hoboken, NJ: Wiley. S, M. and Suresh Kumar, S. (2013). Proceedings of the fourth International Conference on Signal and Image Processing 2012 (ICSIP 2012). New Delhi: Springer. Seal, W., Garrison, R. and Noreen, E. (2012). Management accounting. London: McGraw-Hill Higher Education. Appendix Formulae of ratios Gross profit Ratio (Gross profit/Net Sales Revenue)*100 Operating profit Ratio (Operating profit /Net sale revenue)*100 Net profit Ratio (Net profit/Net Sales Revenue)*100 Current Ratio (current asset/Current liabilities) Quick Ratio (Quick asset/Quick liabilities) Asset Turnover Ratio (Revenue/Total asset) Receivable Collection period (365/Receivable turnover) Payable payment Period (365/Payable turnover) Inventory Turnover Period (365/Inventory turnover) Interest coverage ratio (EBIT/interest payment) Financial gearing ratio (Debt/Equity) Equity Gearing Ratio (Equity/Total asset) Tesco Sainsbury Profitability Ratios 2014 2013 2012 2014 2013 2012 Gross Profit() 4010 4154 5261 1387 1277 1211 Revenue() 63557 63406 64539 23494 23303 22294 Gross profit ratio 6.3% 6.6% 8.2% 5.9% 5.5% 5.4% Operating profit() 2631 2382 3985 1009 882 874 Revenue() 63557 63406 64539 23949 23303 22294 Operating Profit Ratio 4.1% 3.8% 6.2% 4.2% 3.8% 3.9% Net Profit() 970 24 2814 716 602 598 Revenue() 63557 63406 64539 23949 23303 22294 Net Profit Ratio 1.53% 0.04% 4.36% 3.0% 2.6% 2.7% Liquidity Ratios Current assets() 13085 12465 12353 1612 1677 1572 Current liabilities() 20206 18703 19180 4847 4667 4651 Current Ratio 0.64757993 0.666471 0.6440563 0.3326 0.3593 0.337992 Quick assets() 9509 8721 8755 1612 1677 1572 Quick Liabilities() 20206 18703 19180 4847 4667 4651 Quick Ratio 0.47060279 0.466289 0.4564651 0.3326 0.3593 0.337992 Efficiency ratio Total asset() 50164 50129 50781 10485 10441 10342 Revenue () 63557 63406 64539 23949 23303 22294 Asset Turnover Ratio 1.26698429 1.264857 1.2709281 2.2841 2.2319 2.155676 Receivables() 2190 2525 2657 1428 1254 1099 Revenue() 63557 63406 64539 23949 23303 22294 Receivable turnover 29.0214612 25.11129 24.290177 16.771 18.583 20.28571 Receivable collection period 12.5768995 14.5353 15.026651 21.764 19.642 17.99296 payables () 10595 11094 11234 4457 4571 4494 Cost of goods sold() 59547 59252 59278 22562 22026 21083 Payable payment turnover 5.62029259 5.340905 5.2766601 5.0621 4.8186 4.691366 Payable payment period 64.9432381 68.34048 69.172543 72.104 75.748 77.80249 Inventories() 3576 3744 3598 Nil Nil Nil Cost of goods sold() 59547 59252 59278 22562 22026 21083 Inventory turnover 16.6518456 15.82585 16.475264 nil Nil Nil Inventory Turnover period 21.9194922 23.06353 22.154425 Nil Nil Nil EBIT() 2337 2134 3949 924 804 823 Interest() 78 82 114 26 32 35 Interest Coverage Ratio 29.9615385 26.02439 34.640351 35.538 25.125 23.51429 Debt() 2009 887 1966 388 89 338 Equity() 14722 16661 16623 4369 4259 4233 Financial Gearing ratio 0.13646244 0.053238 0.1182699 0.0888 0.0209 0.079849 Equity() 14722 16661 16623 4369 4259 4233 Total asset() 50164 50129 50781 10485 10441 10342 Equity Gearing ratio 0.29347739 0.332363 0.3273468 0.4167 0.4079 0.409302

Wednesday, April 22, 2020

Mike Porter Researches Essays - Management, Strategic Management

Mike Porter Researches Michael Porter On How To Marry Strategy & Operational Effectiveness The Harvard management guru argues that operations & strategy must fit to create a sustainable competitive advantage. For almost two decades, managers have been learning to play by a new set of rules. Companies must be flexible to respond rapidly to competitive and market changes. They must benchmark continuously to achieve best practice. They must outsource aggressively to gain efficiencies. . . Positioning -- once the heart of strategy -- is rejected as too static for today's dynamic markets and changing technologies. According to the new dogma, rivals can quickly copy any market position, and competitive advantage is, at best, temporary. . . But those beliefs are dangerous half-truths, and they are leading more and more companies down the path of mutually destructive competition. Distinguishing Between Operational Effectiveness and Strategy Operational effectiveness and strategy are both essential to superior performance, which is the primary goal of any enterprise. But they work in very different ways. . . Operational effectiveness (OE) means performing similar activities better than rivals perform them. Operational effectiveness includes but is not limited to efficiency. It refers to any number of practices that allow a company to better utilize its inputs by, for example, reducing defects in products or developing better products faster. In contrast, strategic positioning means performing different activities from rivals or performing similar activities in different ways. . . Constant improvement in operational effectiveness is necessary to achieve superior profitability. However, it is not usually sufficient. Few companies have competed successfully on the basis of operational effectiveness over an extended period, and staying ahead of rivals gets harder every day. Strategy is the creation of a unique and valuable position, involving a different set of activities. If there were only one ideal position, there would be no need for strategy. Companies would face a simple imperative -- win the race to discover and preempt it. The essence of strategic positioning is to choose activities that are different from rivals'. If the same set of activities were best to produce all varieties, meet all needs, and access all customers, companies could easily shift among them and operational effectiveness would determine performance. Developing Strategic Fit Across Activities Strategic positions emerge from distinct sources, which often overlap. First, positioning can be based on producing a subset of an industry's products or services. I call this variety-based positioning. . . A second basis for positioning is that of serving the needs of a particular customer group. I call this needs-based positioning. . . The third basis for positioning is that of segmenting customers who are accessible in different ways. I call this access-based positioning. . . Positioning choices determine not only which activities a company will perform and how it will configure individual activities but also how activities relate to one another. While operational effectiveness is about achieving excellence in individual activities, strategy is about combining activities. Fit Sustains Competitive Advantage The importance of fit among functional policies is one of the oldest ideas in strategy. Gradually, however, it has been supplanted on the management agenda. Rather than seeing the company as a whole, managers have turned to core competencies, critical resources, and key success factors. In fact, fit is a far more central component of competitive advantage than most realize. Strategic fit among many activities is fundamental not only to competitive advantage but also to the sustainability of that advantage. It is harder for a rival to match an array of interlocked activities than it is merely to imitate a particular sales-force approach, match a process technology, or replicate a set of product features. Positions built on activity systems are more sustainable than those built on individual activities. Finally, fit among a company's activities creates pressures and incentives to improve operational effectiveness, which makes imitation even harder. Fit means that poor performance in one activity will degrade the performance in others, so that weaknesses are exposed and more prone to get attention. Conversely, improvements in one activity will pay dividends in others. Companies with strong fit among their activities are rarely inviting targets. Their superiority in strategy and in execution only compounds their advantages and raises the

Tuesday, March 17, 2020

The ethical dilemma of the Indian barial contoversy essays

The ethical dilemma of the Indian barial contoversy essays Grave desecration has been experiences in the United States for nearly two hundred tears without respect to Native Indians first amendment rights to freedom of religion. Indian spirituality is not free from ecology, they are part of the same system of the beliefs for Indians, and their spiritual beliefs are a significant part of their culture. Their beliefs operate in the present applying through space, to all people. Their views are global and everyone is perceived to live within these beliefs. Part of the spiritual/ecological process is confirmed within the role of their ancestors and traditions are held within these beliefs. American archeologists fell obligated to tell the story of pre-historic American peoples. Using scientific methods they trace through time within the study of ancient burials. They can accumulate data as to disease patterns, diet, environment, cultural, demographics and population changes. The continued uses of skeletal remains are detrimental to them, as research methods are updated and fields of interest evolve. Without hard resources, their work may come into question because they will have no original data source to state their claims of science and their research may come into question. Looking at science (archeology) as a belief system, they too are entitled to their first amendment right. Since prehistoric times, Native Americans have kept their stories alive without the written record but rather through oral tradition. Stories are handed down to generation after generation, and their ancestors buried are mistaken, by archeologists, as prehistoric peoples that have hidden secrets. Come of the natives do not see the benefit that archeology provides, because they are already aware of the cultural details that are unveiled through desecration. Since Indian values conflict with archeology, very few Indian students pursue it as a potential profession; while the archeologist view their resear...

Saturday, February 29, 2020

Advantages And Disadvantages Relying On Field Notes English Language Essay

Advantages And Disadvantages Relying On Field Notes English Language Essay At the first step of this assessment I have to answer what the advantages and disadvantages are of relying solely on field notes, in comparison with producing a transcription of an audio or video recording. During the second half of the twentieth century, there was a huge growth in the amount of educational research and the emergence of a substantial methodological literature on how best to pursue it. The educational research became quite diverse, not only in the topics examined but also in the methodological and theoretical approaches that are used. â€Å"Perhaps not surprisingly, disagreement is closely associated with such diversity, and there are even differences of opinion over what is and is not research, and what is and is not educational research†(E891 Educational Enquiry, Study Guide, p. 63). Field notes or transcription of an audio or video recording are characteristics of reflective practice and of what is often referred to as action research. Nevertheless, a great deal of educational enquiry is carried out as a separate task from educational practice, even when it is designed to inform practice directly. In this matter, the researchers may not be educational practitioners themselves, although they frequently are (E891 Educational Enquiry, Study Guide, p. 63). Concerning the range of strategies that can be used to pursue educational research it is a wide range of issues such as laboratory and classroom experiments, large-scale surveys of the behaviour, attitude, etc. The results of the research, i.e. the data may be the product of direct observation on the part of the researcher or it may be produced by others, and can take a variety of forms, such as answering questionnaires by ticking in boxes on interview or observational schedules, numbers as recorded in published statistics, text from published or unpublished documents or from field notes written by the researcher during the course of observations or interviews, audio-or video-recordings and transcripts of these(Research Methods in Education, Handbook, p.26). A common way of conceptualizing this diversity is the distinction between quantitative and qualitative approaches and it is necessary, however, to emphasize that it is a very crude distinction and one that is potentially misleading. The most obvious distinction between the two sorts of research is that the former deals with numbers whereas the latter does not or does to a minor degree. Going back to the main point of the question I have to deal with the qualitative research since field notes or audio – video recording are within this category. As interview transcripts are made and field notes of observation compiled the researcher continuously examines the data, by highlighting certain points in the text or making comments in the margins. The important points are identified by the researcher noting contradictions and inconsistencies, comparisons and contrasts with other data and so on. At this point the researcher is not just collecting data, but thinking about it and interacting with it. Much of these first attempts at speculative analysis will probably be discarded, but some ideas will no doubt take shape as data collection and analysis proceed. Much of this early activity may appear chaotic and uncoordinated, but such `chaos’ is a prolific seed-bed for ideas (Research Methods in Education, Handbook, p. 68).

Thursday, February 13, 2020

Micro econmics Essay Example | Topics and Well Written Essays - 2000 words

Micro econmics - Essay Example Once the US market tumbled the markets around the world followed suit. Some Asian markets even lost 40% (China)while others lost almost 60% (India) in a matter of months. Most analysts hold the subprime lending crisis as the root cause for the current economic slowdown. In their enthusiasm to outdo other banks and get the maximum number of customers, banks were ready to lend any amount to anyone, without even verifying their credit worthiness properly. As a result, many banks had to close shop, including big names like Citibank and Merryl Lynch. Thousands of people the world over lost jobs, companies had to be bailed out and even turn to government support for their functioning and existence. The latest victim is the automobile giant, General Motors. After being the iconic company that it was, it had to declare bankruptcy and carry out a sale to the U.S government. The subprime lending crisis does not seem to be an isolated one in the financial world. Persistent industrial loan defaults and massive loan losses have become a regular feature in developing countries. According to Hoque (2004) and the World Bank (1993), 150 development banks in 33 developing countries have been haunted by massive debt default and loan loss. The present subprime mortgage crisis that hit the credit markets and banking systems is due to the massive increase in loan defaulters, thus forcing the banks to go bankrupt. Industrial Development Finance Institutions (IDFIs) form the backbone of the economy in both developing and developed countries. These institutions are expected to stimulate industrial investment in both private and public sectors in the country. They play the key role of injecting capital into the system. However, a job bigger than that is to blend capital with entrepreneurial skills to support industrial advancement in an underdeveloped economy. This is precisely what IDFIs are doing in a majority of the