Short and Long-term Financing Assignment Example | Topics and Well Written Essays - 2000 words

Short and Long-term Financing - Assignment Example Sainsbury plc uses different types of financing such as borrowing, bank loans, term loans and equity funds to acquire needed cash. Long term finance is usually paid off after a long period of time such as 10-25 years. On the other hand, short term finance needs to be paid off within a year. Long term finance is acquired to fulfil a company's long-term funding needs whereas short term funds are used to finance company's working capital. Sainsbury relies on short term bank loans, bank overdrafts and short term notes for short term financing, and relies on equity shareholder's funds, medium term notes, finance leases and loan stock for long term financing. The company relies on too much loan capital, which is mostly high interest bearing in the long-term. High payments of interest reduce the company's profits. Also, high loan capital weakens a company's credit worthiness and increases risk in future. Equity financing carries high cost because it is more risky for investors. However, equity financing can be used to generate huge capital and payment of dividends is not compulsory. On the other hand, debt financing requires fixed payment of interest compulsorily. Businesses cannot rely on one source of finance rather they endeavour to maintain a mix of debt and equity capital. Companies with high debt capital are considered as more risky and therefore, the cost of capital will rise as creditors will demand more return i.e. high interest because of high risk involved. High risk, high return for investors and high cost for the company. Evidence B Working Capital Management- Sainsbury plc Working capital can simply be defined as the amount of funds in excess of current assets over current liabilities. It is basically the sum of money which is left after keeping aside the funds that are to be paid off to short term creditors. Working capital is used to finance a company's short term business needs and expenditures Working capital has two major elements viz. the current assets and the current liabilities. It can be mentioned as: Working capital = current assets-current liabilities In order to analyse a company's working capital management, it is useful to calculate ratios such as current ratio, quick ratio, receivable turnover ratio and stock turnover ratio (see appendix I). All these ratios help to determine a company's working capital position. Current ratio shows the ability of a company to meet its short term expenses and obligations out of its current assets less current liabilities. Sainsbury plc's current ratio is 0.79:1 at the end of the year 2006 whereas it was 0.57:1 in 2005 and 0.83:1 in the year 2004. It shows that the working capital position of the company has declined by about 5% over the last three years. The company is able to pay off only 79p for every 1 borrowed. Quick ratio is a variant of current ratio. It is calculated on the basis of only the current assets that can be readily converted into cash, excluding inventory and prepaid expenditures. Sainsbury plc's quick ratio is 0.67:1 at the end of year 2006, 0.46:1 in 2005 and 0.67 in 2004. This means that the company is only able to pay off 67p for every 1 of its short term obligations out of its quick current assets. For efficient working capital management, it is very essential that the company is able quickly convert its receivables and inventories into cash. The receivable turnov

What if Alexander Graham Bell Did Not Invent the Telephone Essay

What if Alexander Graham Bell Did Not Invent the Telephone - Essay Example High-end communication devices at present are products of a gradual and consistent innovation of telephone to become cellular phones or the so-called wireless communication devices. Now, consumers are no longer satisfied with the primitive capacity and purpose of telephones or cellular phones which is to be able to hear and talk to important people. With the invention of Internet by Tim Berners-Lee, phones are now capable of surfing the Web, tracking locations, and capturing images. Now, we ask, would we have the kind of luxury and convenience in doing our everyday tasks if, first and foremost, no one invented the telephone? What if Alexander Graham Bell did not think of creating a magnificent machine that allows people to speak to people separated by geographical distance? Well, the answer might vary and would depend on probabilities, like other inventors in the likes of Joseph Henry, who invented the electric telegraph, or Thomas Edison, could actually thought of inventing the tele phone. A reluctant response might be that cellular phones are impossible to surface, and the Internet remains a mystery to the humanity. This essay attempts to present the possibilities if Alexander Graham Bell had never created the electric telephone, and highlights the importance of this invention to humanity’s history. ... Meucci, among other telephone inventors, was reportedly the first â€Å"to have a functioning electric telephone† which he attempted to patent (Meucci 9). Then there was Elisha Gray who was also regarded as the one who first patented the telephone close with Bell’s filing of patency in 1876 (Evenson 3). There were conspiracies regarding who really is to be credited for the telephone’s invention, but the federal government credited Alexander Graham Bell for patenting the telephone’s creation (Evenson 3). Alexander Graham Bell undoubtedly has been part of the pages of world history. Bell is a notable inventor, scientist, and teacher. Born on March 3, 1847 in Edinburgh, Scotland, Bell was known for his pet name Alec (Feinstein 1). His contemporary, Samuel Morse, also invented a communication device, which was the telegraph, which enables the transmission of electrical impulses that result in dots and dashes (Feinstein 10). These dots and dashes represent the letters of the alphabet and can be interpreted using the Morse code (Feinstein 11). Although he received a patent in 1840, Morse’s electric telegraph had certain shortcomings. It did not cater the needs of ordinary people since it cannot be connected to their respective homes, and second, it was quite expensive. Feinstein wrote that, while the telegraph was a big leap towards the advances in communication, Alexander Graham Bell’s telephone â€Å"truly conquered time and distance† and â€Å"create a world in which people were as close to each other as the nearest phone† (19). 3.0 Period of Natural Science and Technology Early and late nineteenth century was a period marked by the fall of European and Asian empires and the rise of the German, British, American, and Japanese

Effects of Language Difference on Subsidiary Performance Essay - 1

Effects of Language Difference on Subsidiary Performance - Essay Example This research will begin with the statement that multinational enterprises investment firms struggle to diversify in their field of investment in foreign countries. This is because they focus on hiring and recruiting new employees of different language backgrounds in their respective nationalities. Language can be termed or described a chosen unique system of conceptual symbols that let individuals communicate effectively. Language generally is the greatest used mediator which facilitates understanding and relation between management, employees, and customers of every given business. A multi linguistic human resource usually gives out benefits, for example, a larger and wider range of perspectives. This workforce also gives a greater competitive ability generally in the marketplace globally. Multinational enterprises that are venturing into new economies are faced with the new language and cultures which should be overcome to ensure organizational goals and objectives are achieved. M ultinational enterprises can be defined as financial firms and entities that are involved in the supply of services and goods in at least two or more economies. These corporations are large in size and they are involved in different forms and fields of business activities in different countries. Increased competition, venturing into new business form and globalization has forced most business firms alongside with their employees to interact with different nationalities. This has been caused by variation in availability of resources. Surveys show that languages play an important part in communication in multinational enterprises. A workforce with different language background may encounter language barrier if working together. This leads to misunderstanding it also suggests that language barrier causes ineffective communication or it may cause miscommunication within a company. According to past studies, they indicate that language does not only facilitate communication. The language barrier will not affect the human resource only, it also hinders effective communication. Customers will find it hard to communicate out their need or even fail to get important information about particular or certain services or products being offered by Multinational Corporation.

Social Work Approaches Essay Example | Topics and Well Written Essays - 2000 words

Social Work Approaches - Essay Example Significantly, this type of therapy concentrates on how the individual thinks and behaves at present rather than in the patient’s early childhood experiences that could have brought about the typical behaviour. The approach entails weekly therapy sessions that is coupled with daily practice exercises designed to help patients apply the cognitive behavioural therapy skills which they have learned into their own personal settings or environment. Treatment is short and does not last longer than 16 weeks or 4 months (University of Michigan \depression Centre, 2006). Cognitive behavioural therapy employs three (3) essential features, which are (University of Michigan Depression Centre, 2006): 1) Cognitive restructuring, 2) behavioural activation, and 3) enhancing problem solving skills. Cognitive restructuring focuses on the identification of the maladaptive or erroneous thoughts that makes the patient feel depressed. Usually, the depression is about themselves, their environment and their future. Maladaptive thoughts about themselves include feelings of being worthless or stupid because they cannot get jobs or because they commit mistakes – which in reality are considered petty or small problems. In connection with this, they tend to lose interest and cut back on their customary activities, which an ordinary and normal individual get pleasure from as part of his or her daily existence. Thus, the person concern spends more idle time to focus on distorted thoughts that would eventually pave way for negative emotions. In relation to the foregoing, home settings and the environment in general makes a person feel depressed because he or she perceives being a social outcast. This is why social interactions with the family and with the community become deficient and limited. This makes the person withdrawn and resentful due to the wrong notion that nobody likes him or her. As a consequence, typical home life is disrupted because the

Counseling Children in a Community Setting Essay Example for Free

Counseling Children in a Community Setting Essay This article deals with the effects of loss on children of both a primary and secondary nature. Events such as the death of a parent or friend and the resulting consequences can be difficult for a child to deal with, depending on what stage they are at developmentally. Other losses such as personal possessions, those resulting from abuse or a sudden change in a childs life can also be difficult (Goldman, 2004). The author also discusses, according to Piagets developmental theory, how children deal with loss. Younger children can often have trouble understanding why a loved one died may connect an event to the death that is not even related. Older children are curious as to the events and reasons for the loss, tending to seek answers as to why the death occurred. It is recommended that when speaking to children about death, an age-appropriate explanation should be used. Children need to have information that clearly defines specific type of death that has occurred, such as a murderer or an accident (Goldman, 2004). To help children effectively cope with a sudden loss, Goldman proffers several options that can be productive. Having a team that focuses on supporting the child can be very beneficial to bereavement counseling. This team has members from: the family, school and includes the counselor. The team assesses exactly what losses have occurred to the child and what developmental stage the child is at. Based on this information, the team can set up a plan for supporting the child (2004). Other methods that can be used to help the child include helping the family communicate about the death, support groups, play therapy and focusing on early intervention. The author stresses the importance of having an all-around knowledge of the circumstances and that considering the consequences that the loss will have on a childs whole life experience (Goldman, 2004). References Goldman, Linda. (2004). Counseling with children within contemporary society. Journal of Mental Health Counseling, Volume 26, no. 2, 168-187.

International Organisation Food And Agriculture Organisation Politics Essay

International Organisation Food And Agriculture Organisation Politics Essay The Food and Agriculture Organization of the United Nations (FAO, or ONUAA for its French equivalent Organisation des Nations Unies pour lalimentation et lagriculture is a specialised agency of the United Nations that leads international efforts to defeat hunger. FAO acts as a neutral forum, serving both developed and developing economies, where all nations meet as equals to negotiate agreements and debate policy. FAO is a source of information and knowledge, and helps developing countries/ countries in transition to modernise and improve agriculture, forestry and fisheries practices, ensuring adequate nutritional bal. Its Latin motto, fiat panis, translates into English as let there be bread. As of 8 August 2008[update], FAO has 191 members states along with the European Union and the Faroe Islands, which are associate members. 2. The Food and Agriculture Organization  [1]  of the United Nations leads international efforts to defeat hunger. During its last summit in 2009, plan of action including seven commitments was drawn out. First of it is to ensure an enabling political, social and economic environment for eradication of poverty, most conducive to achieving food security for all. The importance of basic human right to food and sustainable agriculture was acknowledged by the summit. FAO has a special programme for food security which is country based steering committee. Another programme, food security and vulnerability information and mapping system (FIVIMS) is established at world food summit and is monitoring undernourished people and issues of food access. United Nations Development Programme 3. The United Nations Development Programme is concerned with integrating human rights in all global development activity, such as democratic governance, poverty reduction, crisis prevention and recovery, energy and environment  [2]  . Export Credit Agencies (ECA) Watch 4. ECA Watch is an outreach mechanism of a larger international campaign to reform Export Credit Agencies (ECAs). Non-governmental organisations working on issues related to the environment, development, human rights and anti-corruption participating in this campaign lobby national and global ECAs to improve their environmental policies and practices. World Agro forestry Centre 5. The World Agro forestry Centre is an autonomous, not-for-profit research and development institution supported by nearly 60 different governments, private foundations regional development banks and the World Bank whose primary mission is to improve food and nutritional security and enhance environmental resilience in the tropics  [3]  . International Food Policy Research Institute(IFPRI) 6. Aimed at identifying and analysing policies for sustain ably meeting the food needs of the developing world. The research at IFPRI focuses on economic growth and poverty alleviation in low income countries and the sound management of the natural resource base that supports agriculture  [4]  . IFPRI seeks to make its research results available to all those in a position to use them and to strengthen institutions in developing countries that conduct research relevant to its mandate. Consultative Group on Agricultural Research 7. CGIAR is a strategic alliance of countries, global and regional organisations and private foundations supporting 15 international agricultural centers. It works with national agricultural research systems and civil society organisations to achieve sustainable food security and reduce poverty in developing countries through scientific research and research-related activities in the fields of agriculture, forestry, fisheries, policy and the environment  [5]  . Harvest Plus 8. Harvest Plus, one of the CGIARs Global Challenge Programs, seeks to reduce the effects of micronutrient malnutrition by harnessing the power of plant breeding to develop staple food crops that are rich in micronutrients, a process called Bio fortification  [6]  . International Rice Research Institute 9. The International Rice Research Institute, an autonomous, non profit agricultural research and training organisation with offices in more than ten nations aims to find sustainable ways to improve the well-being of poor rice farmers and consumers while protecting the environment  [7]  . International Institute for Environment and Development (IIED) 10. IIED is a London-based independent, non-profit organisation that promotes sustainable patterns of development through collaborative research, policy studies, networking and knowledge dissemination. It works to address global issues like mining, paper industry and food systems. A 34 year-old organisation with a presence in 18 countries, IIED was the first recipient of the Blue Planet Prize (1992) for outstanding contributions to environmental policy and action  [8]  . Centre for International Forestry Research (CIFOR) 11. CIFOR is an international research and global knowledge institution committed to conserving forests and improving the livelihoods of people in the tropics. CIFORs high impact research in 40 countries helps local communities and small farmers gain their rightful share of forest resources, while increasing the production and value of forest products  [9]  . International Water Management Institute 12. IWMI is a non-profit scientific research organization specialising in water use in agriculture and integrated management of water and land resources. The institute works with partners in the developing world to develop tools and methods to help these countries eradicate poverty and ensure food security through more effective management of their water and land resources  [10]  . World Health Organisation 13. The worlds foremost health agency, the World Health Organisation is the United Nations specialised agency for health, established with the objective is to achieve attainment by all peoples of the highest possible level of health  [11]  . The Energy and Resources Institute (TERI) 14. A research institute with five Indian centers and four overseas affiliates, TERI is committed to every finding innovative solutions to critical energy and environment related issues and the challenges posed by sustainable development from providing environment-friendly solutions to rural energy problems to helping shape the development of the Indian oil and gas sector and from tackling global climate change issues across continents to enhancing forest conservation efforts among local communities  [12]   United Nations Environment Programme (UNEP) 15. Established in 1972, United Nations Environment Programme acts as a catalyst, advocate, educator and facilitator to promote the wise use and sustainable development of the global environment. To accomplish this, UNEP works with a wide range of partners, including United Nations entities, international organisations, governments, non-governmental organisations, the private sector and civil society  [13]  . United Nations Development Programme (UNDP) 16. Located in New York. It has separate divisions called sustainable Energy and Environmental division (SEED) and Sustainable Lively hoods unit of poverty. The former focus on food security research and monitoring technical and policy issues e.g. food security action plans and the later focus on field and policy work having direct relevance to food security and emphasis on capacity building  [14]  . Centre for Science and Environment 17. Centre for Science and Environment (CSE) is an independent, public interest organisation which aims to increase public awareness on science, technology, environment and development  [15]  . Environment News Service 18. The Environment News Service provides daily international news updates on the environment  [16]  . World Bank 19. World Bank is the major founder for Consultative Group on International Agricultural Research (CGIAR) which conducts much of Green Revolution related R D. Adequacy Of Role/Contribution Of International Organisation 20. As per UN convention, Industrialised and developed countries are required to spend 0.7 percent of their national income on international aid. However, except Norway, Sweden, Luxemburg, Netherlands and Denmark, no other developed nation is meeting the target. (Data fact Map of UN). Lack of political consensus among developed countries on food security related issues and non implementation of UN convention in terms of national contribution towards aid has further weakened UN standing. Organisation of economic co-operation and development data mentions reduction of aid by 5.1 percent with effect from 2005 to economic crisis looming those countries. A mere scrutiny of mother organisation of world in respect of Global food security i.e Food And agriculture Organisation of United Nation enunciates the level of inadequacy of international agencies dealing with the crisis. 21. There has been severe public criticism  [17]  of FAO performance for the last 30 years. After the 1974 World Food Conference, due to dissatisfaction with the FAOs performance two new organizations ie World Food Council (WFC) and the International Fund for Agricultural Development (IFAD were created. World Food Programme, which was started as an experimental 3-year programme under FAO, grew in size and independence, with the directors of FAO and WFP struggling for power. Heritage Foundation, a conservative think tank based in Washington, D.C. wrote that the sad fact is that presently, the FAO has become essentially irrelevant in combating global hunger. In recent years, bloated bureaucracy known for mediocrity of its work and the inefficiency of FAO staff, the FAO has become increasingly politicised. In the same year, the Society journal published a series of articles about FAOs inefficiency and lack of transparency. 22, US State Department expressed the view that The Food and Agriculture Organization has lagged behind other UN organizations in responding to US desires for improvements in program and budget processes to enhance value for money spent. In 1991, The Ecologist magazine produced a special issue written by experts such as Helena Norberg-Hodge, Vandana Shiva, Edward Goldsmith, Miguel A. Altieri and Barbara Dinham under the heading The UN Food and Agriculture Organization: Promoting World Hunger and questioned FAOs policies and practices in forestry, fisheries, aquaculture, and pest control. 23. In 1996, World Food Summit organised by FAO was attended by 112 Heads or Deputy Heads of State and Government and concluded with the signing of the Rome Declaration, which established the goal of halving the number of people who suffer from hunger by the year 2015. In the meantime, 1,200 Civil Society Organisations (CSOs) from 80 countries participated in an NGO forum. The forum was critical of the growing industrialisation of agriculture and called upon governments and FAO to do more to protect the Right to Food of the poor. Although some progress has been made during the last twenty years, the future is not bright. At the World Food Summit in 1996, high-level policy makers from more than 112 countries agreed to the goal of reducing the number of food-insecure people by half, to 400 million, between 1990 and 2015. At the follow-up Summit in 2002, policy makers from the same countries reaffirmed the same goal. Unfortunately, action does not seem to follow rhetoric. Even after ten years of first summit less than one third of the countries managed to reduce the number of food-insecure people, while one half experienced an increase. 24. To reach this target of world food summit, 22 million people need to escape from food insecurity every year. But only 6 million have been fortunate enough to do so. Given the progress, this commitment seems to have been mere lip service. Till date the countries who undertook this commitment have made choices each year about how to spend money and expend effort and policy goals to pursue. But for the vast majority, food security has never made it near the top of the agenda. With the present policies and approaches now being pursued in most countries and international organizations, there is no possibility of achieving sustainable food security for all in next decade. The Food and Agriculture Organization of the United Nations projects that even the more limited WFS goal will be met not by 2015, but by 2050.

Autobiography of Charlie Chaplin Essays -- essays research papers fc

I was born Charles Spencer Chaplin in Walworth, London on April 16, 1889. I have an older brother, Sydney, but he’s only my half brother- same mother, different father. I was named after my father, but he was a drunk. He died when he was thirty-seven. My mother, Hannah, was a music hall entertainer. Both her physical and mental health fluctuated during my youth. One night, when I was five years old, she became sick during a performance. I went out on stage and sang in her place. I knew then that I loved performing, and I loved it when the audience threw money at me. It was difficult for my mother to make enough money to support me, Syd, and herself. Syd and I had to share a single pair of shoes, taking turns going from place to place. My mother slipped into insanity. We were constantly made fun of and the authorities separated the three of us for a year. By the time I was fourteen, I was forced to have her committed to an institution. I don’t like to remember my childhood. When I was about seventeen, Syd introduced me to Fred Karno, who led a vaudeville troupe. I succeeded in impressing him, and I subsequently became a member of the troupe. It was during my time in this troupe that I fell in love with a dancer, named Hetty Kelly. I asked her to marry me, but she, being only sixteen, felt that she was too young. I then asked her to wait for me until I returned from the troupe’s planned trip to New York. While spending time in New York, I started to become fascinated with the movies. I got a telegram one day from Mack Sennett from Keystone Pictures, who offered me a job in California. He promised $150 per week. I was off to Hollywood within the next month. When we I met Sennett, he did not believe that I was Charlie Chaplin. He said that Charlie Chaplin did the best drunk he had ever seen and that I was too young to be him. I immediately went into my drunk routine, which convinced him. He took me and said, â€Å"Forget everything you ever learned, you’re not in the theater anymore.† At first I was terrified by the movies, but it soon became very natural to me. I walked into a room of costumes and tried many different things on. Sennett and the rest of the crew grew angry as they waited for me to get myself dressed. â€Å"I thought I would dress in baggy pants, big shoes, a cane and a derby hat. Everything a contradiction: the pants baggy, the coat tight, the hat small... ...mas day, 1977. In all, I was in seventeen feature films, and over seventy short films. Works Cited _____. Biography for Charles Chaplin. Internet Movie Database Inc. Copyright  © 1990-2005. 11 January, 2005. http://www.imdb.com/name/nm0000122/bio. _____. Chaplin, Charlie. Columbia Encyclopedia, Sixth Edition, Copyrigt  © 2005. 11 January, 2005. http://www.encyclopedia.com/html/c/chaplin.asp. Chaplin, Charlie. â€Å"Rhythm: A Story of Men in Macabre Movement.† Script Magazine. January, 1938. Chaplin. DVD. Dir. Richard Attenborough. Perf. Robert Downey Jr., Anthony Hopkins, Dan Aykroyd, Diane Lane, Kevin Kline, Moira Kelly, James Wood. 1992. 144 min. Gerstein, David. Charlie Chaplin, A World Wide Web Celebration. 11 January, 2005. http://wso.williams.edu/~dgerstei/chaplin/intro.html. Haining, Peter. The Legend of Charlie Caplin. Book Sales Inc. 110 Enterprise Avenue, Secaucus, NJ. 1982. Lynn, Kenneth S. Charlie Chaplin and His Times. Simon & Schuster Rockefeller Center. 1230 Avenue of the Americas, New York, NY. 1997 Raymond, Tom. Charlie Chaplin Biography. â€Å"Clown Ministry† Copyright  ©WebRing Inc. 28 January, 2005. http://www.clown-ministry.com/History/Charlie-Chaplin.html.