Essay examples --

Area and design: A physical area is imperative to our firm yet a site will make our administrations progressively open to more clients situated in various areas. Physical area should be workplaces that incorporate little workplaces for our HR, web specialist lastly rooms and gathering space for the preparation. The location ought to be in a local where there are a ton of workplaces and organizations. Such an area will be powerful on the grounds that it will place us in vicinity to organizations that we can without much of a stretch reach and in their turn will get the message out about us snappier. Likewise being situated close to other realized organizations makes finding us simpler by alluding to their workplaces or area to be close to us. We won’t purchase the property yet have a rent, ideally to have proprietor who will be liable for property charges, protection and support. . The workplace ought to have a space for the principle preparing and a space for open workplaces where representatives will have various undertakings to do. The complete square meter ought to be somewhere in the range of 50 and 60 to meters squares. We discovered workplaces with comparable criteri...

Critically evaluate Direct payments in relation to Personalisation Essay

Basically assess Direct installments according to Personalisation - Essay Example At the point when one has the intensity of picking and the intensity of control, it will henceforth prompt the life of an individual to be in the best state (Barron 2010, p.57). Moreover, because of pay down aids the privatization arrangement, numerous other basic elements are brought into the light. Factors, for example, attempting to guarantee a legitimate and worldwide nearness to both the cultural and administrations that are named as free by the legislature are thought of (Bornat 2008, p.67). Others, for example, the interceding and furthermore the early procedures of mediating, the development and furthermore the nonstop creating of administrations in social orders, and furthermore the division that involves social consideration, attempting to improve the degrees of access to crucial data, and furthermore the direction all things considered, who do use this essential social consideration comforts. This is independent of how they are intended to get their subsidizing, and accomplishing acknowledgment and other steady parts of this field (Hazel 2011, p.34). Direct installments which in short structure are named as DPs, are installments in real money structure, that are paid to an individual, for which they are presently ready to oversee and furthermore make plans of redid help in order to have the option to acquire their different needs that are relate ready to social consideration (Glasby 2009, p.23). In this way, the channel that submits assets for direct installments, begins from the specialists locally. Despite the fact that immediate installments have consistently been available since the year 1996, they are as of now one of the numerous decisions that people who are thus benefited for an individual spending plan (Rogowski 2010, p.87). It is henceforth obvious and without contention that, the quantity of people who use direct installments as a need, has with time developed continually from 50 to 3373, from the years 2002 to the year 2008. It is likewise perceptible that, the quantities of people who use direct installments, from th e year 2007 to 2008, have expanded as far as percent, generally ascending by 61%. This is without a doubt one of the biggest

Blog Archive MBA News GMAC Wins Lawsuit, Commits to Identifying and Reporting Test-Takers

Blog Archive MBA News GMAC Wins Lawsuit, Commits to Identifying and Reporting Test-Takers On Friday, GMAC announced that it had obtained a default judgment in its lawsuit against the operator of Scoretop.com, a website that obtained and distributed copyrighted material, including GMAT questions, related to the GMAT test. In its release, GMAC announced that it possessed Scoretop.com’s hard-drives and would nullify the tests of any test-takers who were members of Scoretop.com. Further, GMAC stated that it was “committed to reporting to schools any unethical behavior that we uncover regarding our testing policy and lack of compliance with that policy by candidates for admission who are sending their scores to schools.” This is not the first time that applicants have needed to face the music for “harmless” internet activity. In 2005, more than one hundred and fifty applicants, mostly to HBS, but also to MIT, Carnegie Mellon and Stanford, followed the directions of a hacker and viewed their admissions decisions ahead of their release. Almost of these candidates were rejected immediately, with Stanford pausing to give consideration and then rejecting them over the course of time.     The internet can be an impersonal place, but there are ramifications for “surfing.” Candidates are reminded to tread carefully and consider their actions. Share ThisTweet Blogroll News

Factors Affecting The Health Community - 887 Words

Factors Affecting the Health Community in Fresno There are many factors that affect health communities in California but looking at a specific community health, helps to focus on geographical areas rather than the people itself. Looking at the central valley and the specific area being Fresno, there are many factors that affect the overall community health. Health disparities such as ethnicity, culture, and community all play a huge role in not being healthy. As stated by the California HealthCare Foundation, Tu (2009, para 1), Fresno being a huge area and a population of 1.6 million people which accounts for almost 5% of the state’s population, getting an insight look on health communities will give a different perspective on overall health. As stated by Tu (2009, para 2), â€Å"Fresno is considered to be one of the poorest communities in California due to almost half the population has a family income below 200 percent of the federal poverty level.† Poor economy, lack of medical facilities and physicians, and poor h ealth stress play a crucial role in affecting the overall community health of Fresno. First of all, hospitals are facing poor and worse payer mix because almost all hospitals in Fresno are non-government district hospitals. The main hospital system in Fresno County is considered to be the Community Medical Centers and St. Agnes Medical Center, and when combined there are 1200 beds as stated by the California HealthCare Foundation, Tu (2009, para 5); which cannotShow MoreRelatedDeterminants Affecting The Morisset Cooranbong Community937 Words   |  4 PagesThe social determinants of health are the social, physical, ecological and environmental factors that affect a community in which individuals work, relax, and live and which ultimately determine the health and wellbeing of these communities (McMurray Clendon, 2015). It is important for communities to be aware of the determinants that affect the individuals in the community in order to provide appropriate support networks and health services and resources to maintain health. The aim of this reportRead MoreAccess Of Contraception And Abortion Within The Latina Community1480 Words   |  6 Pagesthe Latina community in Los Angeles, California has been influenced culturally, socially, and economically. Cultural beliefs, economic disparities, social environment, and language barriers have all prevented Latina’s access to proper pregnancy termination services, which is causing in the detrition of Latina’s sexual and reproductive care. Ultimately in order to promote better reproductive/sexual health and provide better access to contraceptives and abortion within the Latina community in Los AngelesRead MoreAssessment And Care Provision Of Mrs. Amalie Jones1350 Words   |  6 Pagesidentify the risk factors which negatively impacts on her function,safety and independence. Focus of this essay will be demonstrating how the dignity of the client/patient can be maintained through dignified nursing care. The main purpose of this assessment will be to protomote both problem solving and care provision including prioritising.According to Miller’s Functional Theory, not all the health issues are due to age related changes, lot of them are a result of risk factors. These can be addressedRead MoreFactors Affecting Prevalence And Treatment Outcomes Of Patients With Type 2 Diabetes Mellitus1005 Words   |  5 PagesFactors Affecting Prevalence and Treatment Outcomes of Patients with Type 2 Diabetes Mellitus in Rwanda Introduction Diabetes mellitus is a chronic metabolic condition in which the pancreas no longer produces enough Insulin (impaired insulin secretion) or cells stop responding to the insulin that is produced (insulin resistance) resulting in increased blood glucose (â€Å"Endocrine System.† Internal Medicine Clinical Treatment Guidelines. Republic of Rwanda Ministry of Health, 2012 ). SymptomsRead MoreChronic Respiratory Diseases ( Crd )1147 Words   |  5 Pageslook at the prevalence of CRD in both Australia and China and the factors affecting both countries. It will also look into the prevention and treatment strategies for chronic respiratory diseases available in Australia and the health professionals involved in these strategies. Finally, it will look into one of the impacts in has on the community. Chronic respiratory diseases vary widely in severity and have many contributing factors. Although there is no cure, various self-management systems ensureRead MoreEffects Of Protein Energy Malnutrition On Children And Children1708 Words   |  7 Pages This malnutrition disease can be affected from not eating enough healthy diets and recognizing by physical appearance signs, dietary data and bio-medical data. There are some factors affecting in age groups women and children malnutrition by s ocioeconomic and cultural factors, biological factors, and environmental factors (1). Malnutrition fully affected to the starving with other chronic diseases have of age groups women and under five year old children that increasing weakness in the body. AlsoRead MoreThe City Of Overtown Florida Is Located Northwest Of Downtown1302 Words   |  6 Pageshistory with the black community in Miami. It served as a â€Å"colored town† during the Jim Crow era and developed into a central location for the development of the black community to this day. Overtown with its rich history has many building on the National historic registry. Overtown is one of Miami’s original neighborhoods, where African Americans settled in the early 20th Century and built churches, restaurants, residences, nightclubs and theaters (City of Miami, 2016). The community has seen a declineRead MoreBusiness Analysis: WellStar Health Systems Essay1346 Words   |  6 PagesWellStar Health Systems is cur rently the preeminent and largest health care provider in Metro Atlanta. WellStar Health Systems is a not-for-profit institution that is composed of 5 hospitals and an abundance of physician groups. Physician specialty groups included within WellStar are: ENT, Psychiatry, Endocrinology, Pulmonary Medicine, Infectious Disease, General Surgery, Rehabilitation, Pathology, and Rheumatology. WellStar’s organizational design is composed of internal and external factors that defineRead MoreEmory University Health Care System1707 Words   |  7 Pages Emory University Health Care System Hospital- Atlanta, Georgia 7/22/2014 Kaplan University Joyce Ileen Smith  Introduction Founded in 1905, Emory is one of the largest Hospitals in the Georgia with 200 provider locations and 1,800 physicians in more than 70 specialties, including 220 primary care physicians. The report presented evaluates major internal and external factors affecting Emory using an analytical technique. Based on Emory’s’ Services in Georgia, it identifies strategies that haveRead MoreA Brief Note On Aboriginal And Torres Strait Islander Health1590 Words   |  7 Pagessocial disadvantages which significantly impacts their physical, psychological, emotional, spiritual and social health. This essay analyses the impacts of the social determinants of health such as socioeconomic status, early life and psychological distress to Aboriginal and Torres Strait Islander health which causes the wide gap in the social disadvantages experienced by the Indigenous community. According to the assessment of a Productivity Commission report, the Federal Government will fail to meet

Ellisons Definition of an Invisible Man in Battle Royal Essay Examples

Reading through Ralph Ellison’s story â€Å"Battle Royal† one comes to the conclusion that if a man yields to the power of majority without struggle, he dooms himself and his posterity to infinite slavery. It’s no mere chance that the protagonist’s grandfather, laying on his deathbed, says nothing, but a wish for his sons â€Å"to keep up the good fight. (1)† At the time of the old man’s death, his words had little effect on his relatives, who were afraid of doing something â€Å"against the wishes of white folks† (1).   Nevertheless the protagonist unveils the puzzle of his grandfather’s last will later in his life. The story’s told from the first person. The author adds an element of reminiscences to the narration to show the changes in protagonist’s perceptions of reality over time.   The narrator doesn’t color the story with biases or his interests; on the contrary he simply describes the events that happened upon his high school graduation, making the reader judge for himself.   Ã‚  Thinking of old times, the protagonist recalls a fighting contest, Battle Royal, where Ellison creates a perfect setting for the readers to have an idea of a humiliating environment surrounding the fighters and their passivity and unwillingness to destroy the present state of affairs. To underline the feeling of humbleness, humility, self-pity and fighters’ total obedience to white people, the author observes the battle attendees through protagonist’s eyes: â€Å"They were all there-bankers, lawyers, judges, doctors, fire chiefs, teachers, merchants. Even one of the more fashionable pastors† (2). Moreover, the protagonist feels neither scorn nor disdain towards the guests, but rather submission, acceptance of his fate and â€Å"blind terror† (3). The superiority of white men is reinforced with their disparaging treatment of fighters: â€Å"Let me at that big nigger!† (3); â€Å"These niggers look like they are about to pray!† (6); â€Å"We mean to do right by you, but youve got to know your place at all times† (9).   The whole scenery surrounding these people is being described as if it wasn’t â€Å"the main ballroom of the leading hotel† (2), but rather a circus with both fighters and spectators pic tured as wild animals, only the former represented the caged victims and the latter free predators: â€Å"posture clumsy like that of an intoxicated panda† (2); â€Å"That night I dreamed I was at a circus† (10). Passivity, blind obedience to humiliating orders and all-absorbing acceptance of one’s pathetic existence are best illustrated by the behavior of fighters towards each other. Thus before the fight the protagonist observes the inmates around with an absolute indifference, neither does he care about the coming battle at that moment, being more concerned with the speech he was praised for at the graduation ceremony: â€Å"Not from a distaste for fighting but because I didnt care too much for the other fellows who were to take partâ€Å" (2). Being left for the final round with another fighter, the protagonist offers money to the opponent for faking the latter’s defeat, so that the former’s given a chance to say his speech in front of the superior public. He is neither concerned with his present condition, nor with money being on stake, his mind seems constantly occupied by his speech on humility as â€Å"the very essence of progress† (1), which makes him a bright student in the eyes of the men of different color: â€Å"I wanted to deliver my speech and he came at me as though he meant to beat it out of me† (5); â€Å"I wanted to de liver my speech more than anything else in the world, because I felt that only these men could judge truly my ability, and now this stupid clown was ruining my chances† (6). The speech, being present throughout the narration in the protagonist’s mind, and finally delivered in the end of the story, is yet another example of yielding to the wishes of majority. When during his speech the protagonist stumbles and incidentally says â€Å"equality† rather than â€Å"responsibility†, a man from the crowd asks him to repeat his words. The orator repeats â€Å"responsibility†, denying having said otherwise and continues his talk without paying attention to humiliating laughter around. If only men were not passive towards each others, if only they tried to fight for the rights given by God and even if the protagonist in the story accepted having said â€Å"equality†, it could have spurred others in the community to do the same, to act and set faces against inequality much earlier rather than tolerate a belittling treatment and abuse through decades. â€Å"It seemed a whole century would pass before I would roll free, a century in which I was seared through the deepest levels of my body to the fearful breath within me and the breath seared and heated to the point of explosion† (7). If only the realization of injustice came earlier, the protagonist might still have been able to escape his grandparent haunting him with his last words. On the contrary, the ultimate acceptance of his status and inferiority to white men, made the protagonist â€Å"invisible† in the society, further undermining his people’s right for freedom.

Health Risks And Exposure Of Toxic Chemicals - 1048 Words

Health Risk and Exposure to Toxic Chemicals Many scientific researchers have said that our environment has been filled with toxic chemicals, which us humans have had a part of. There are many different issues that should concern us surrounding these toxic chemicals. The major concern is that many of these toxic chemicals have been claimed to be causing damage to the health of humans and even other life forms. Another concern is that most of the theses toxic chemicals have just recently been produced; and by our environment changing everyday there is no telling what effects these toxic chemicals may have in the long run on the public s health. Just about all of these toxic chemicals exist in the way they do because of humans. As humans we practice a lot of different activities that cause toxic chemicals to pollute our environment such as, agriculture, industrial, and many domestic activities as well. Many of the toxic chemicals that we produce and use don t get used in a effective way, which causes them to be wasted, left aba ndoned, and disposed of. When toxic chemicals are not disposed of properly they effect the environment and the public s health in a negative way. There are toxic chemicals surrounding all of us, no matter what part of the world we are in. We can t see them but we breathe them in and even eat them. The realization is that we have many of foreign materials traveling within our bodies, which is most likely causing damage to our innards. Although theseShow MoreRelatedNegative Effects Of Pesticide1653 Words   |  7 PagesPesticide is a chemical widely used around the world for many different reasons. Being a highly toxic chemical, pesticide has been found to be particularly harmful to children’s health. Because children’s immune systems are not as developed as that of an adult, their susceptibility to developing health issues from exposure to the toxic chemical is much greater. This is due to the fact that children’s bodies lack the enzyme that allows them to detoxify and deactivate the chemical from their bodiesRead MoreAir Pollution Essay1365 Words   |  6 Pagesand mobile sources. Among other things, thi s law authorizes EPA to establish National Ambient Air Quality Standards (NAAQS) to protect public health and public welfare and to regulate emissions of hazardous air pollutants† (Summary of Clean Air Act, 2017). In Texas certain plants that make chemicals do not care if the chemicals get into the air. When chemicals get into the air is when the air becomes polluted. 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This nonstop use of tobacco has been the result of more than 440,000 deaths per year of smokers with an estimated 49Read MoreDioxin: The Chemical and Our Health1451 Words   |  6 PagesDioxin: The Chemical and Our Health Dioxin (polychlorinated dibenzodioxin), commonly known as 2,3,7,8-tetrachlorodibenzo-para-dioxin (2,3,7,8-TCDD), is a group of aromatic hydrocarbon compounds known to be environmental pollutants. Dioxins are produced as a by-product during the manufacturing and burning of plastics (Clancy, Farrow, Finkle, Francis, Heimbecker, Nixon-Ewing, et al., 2011, p. 338). There are many different dioxin compounds, each having different levels of toxicity. Dioxin is commonlyRead MoreFracking, An Unregulated Chemical Cocktail Essay1681 Words   |  7 Pagesfracking fluid used to extract the fuel from its location in the Earth. 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Accounting and Finance for Business Corporate Finance

Question: Discuss about the Report for Accounting and Finance for Business of Corporate Finance. Answer: Case Study 1 The relevant data for the given case study is summarised below (Yahoo Finance, 2016) Date Adjusted Closing Price Dividends Paid ($) Domino RFG Domino RFG June 30, 2010 4.12 1.7 June 30, 2011 5.04 1.67 0.317142 0.192857 June 30, 2012 8.79 2.01 0.35 0.228572 June 30, 2013 10.19 3.25 0.422858 0.264285 June 30, 2014 20.67 3.99 0.472857 0.3 June 30, 2015 35.09 5.04 0.622857 0.325 1. Formula for Holding Period Return (HPR) = [(P1 + D P0)/P0]*100 Where P1 = Next year price, P0 = Current year price , D = Dividend Hence, using the above formula the HPR for the two companies is as shown below. Year HPR (%) Domino RFG 2010-2011 30.03% 9.58% 2011-2012 81.35% 34.05% 2012-2013 20.74% 74.84% 2013-2014 107.49% 32.00% 2014-2015 72.78% 34.46% 2. Expected returns (Domino) = (30.03+81.35+20.74+107.49+72.78)/5 = 62.48% Expected returns (RFG) = (9.58+34.05+74.84+32.00+34.46)/5 = 36.99% 3. The risk of each company is measured by the calculation of the standard deviation of the sample returns calculated above (Damodaran, 2008) The standard deviation for Domino based on sample return is captured in the table below. X (X- Mean)^2 30.03% 0.105286 81.35% 0.035622 20.74% 0.174203 107.49% 0.202598 72.78% 0.010611 Total 0.528319 Hence, standard deviation = (0.528319/4) = 0.3634 = 36.34% pa The standard deviation for RFG based on sample return is captured in the table below. X (X- Mean)^2 9.58% 0.075107 34.05% 0.000864 74.84% 0.143297 32.00% 0.002485 34.46% 0.000637 Total 0.22239 Hence, standard deviation = (0.22239/4) = 0.2358 =23.58% pa 4. Total Return to Shareholders (Dominos) = [(35.09 + 2.185714)/4.12]1/5 -1 = 55.35% pa Total Return to Shareholders (RFG) = [(5.04 + 1.310714)/1.7]1/5 -1 = 30.16% pa 5. It is apparent that in terms of returns the performance of Dominos is comparatively superior in comparison with RFG. However, the underlying risk in case of Dominos is also more as indicated by the higher standard deviation of the returns of the stock. As a result, in order to compare the performance of the two stocks we need to compute the risk adjusted shareholders return for each of the stock as shown below (Brealey, Myers Allen, 2008). Risk adjusted shareholders return (Dominos) = (55.35/36.34) = 1.52 Risk adjusted shareholders return (RFG) = (30.16/23.58) = 1.28 Based on the above computation, it is apparent that performance of Dominos stock is significantly superior to RFG during the given period. Case Study 2 1. Contribution Margin = Sale Price Variable Cost Unit sale price of cupcake (Given) = $ 3 Royalty Expenses = 8% of sales = (8/100)*3 = $ 0.24 Contribution to marketing cost = 5% of sales = (5/100)*3 = $ 0.15 Cost of ingredients per unit = $ 0.38 Hence, unit variable costs = 0.24 + 0.15 + 0.38 = $ 0.77 Hence, unit contribution margin = 3 -0.77 = $ 2.23 2. Let the breakeven volume be x cupcakes Then, according to the breakeven condition Unit contribution margin * x = Total fixed costs The calculation of the total annual fixed costs is shown below. Yearly rental = 350*52 = $ 18,200 Annual outgoings = $ 3,500 Total wages = (16+17)*8*252 = $ 66,528 Superannuation = (9.5/100)*66528 = $ 6,320.16 Hence, total fixes costs = 18,200 + 3,500 + 66,528 + 6,320.16 = $ 94,548.16 Hence, 2.23x = 94,548.16 Solving the above, we get x = 42,399 units 3. No. of cupcakes produced in a day = 144 Hence, annual pre-tax profit = Total contribution margin Total fixed costs = 144*2.23*252 - 94,548.16 = - $ 13,625.9 Hence, the pre-tax annual loss would be $ 13,625.9. 4. New selling price = 3.70 Unit contribution margin = 3.70 (0.13*3.70)- 0.38 = $ 2.839 No. of cupcakes produced in a day = 134 Hence, annual pre-tax profit = Total contribution margin Total fixed costs = 134*2.839*252 - 94,548.16 = $ 1,319.19 Thus, the pre-tax annual profit would be $ 1,319.19 5. New selling price = 2.70 Unit contribution margin = 2.70 (0.13*2.70)- 0.38 = $ 1.969 Pre-tax profit desired = $ 10,000 Let the cupcake required to achieve the above profit be x Hence, 1.969x (94,548.16 +17*8*252*1.095) = 10000 Solving the above, we get x= 72,157 Thus, the annual sales of cupcakes need to be 72,157 in order to earn an annual pre-tax profit of $ 10,000. Case Study 3 1. The assumptions for computation of discounted payback are as follows. All cash inflows and outflows are expected to occur at the end of the year only. Further, the initial investment on fittings has been depreciated on a straight line basis over a period of 10 years. The discounted value of the incremental cash flows arising from the business during the first 12 years is summarised in the table shown below (Petty et. al., 2015) It is apparent from the above table, that discounted payback period cannot be found out in the given case as the years increase the discounted value of the cash flow would keep on decreasing and the vendor would not be able to ever recover the initial investment of $ 200,000 using the discounted cash flow. The analysis has been extended to future years (i.e. upto 50 years) and then also the discounted cash flows are not sufficient to meet the initial investment. Hence, the discounted payback period cannot be computed in the given case since it does not exist (Damodaran, 2008). 2. In this case, since the business is sold in third year only, hence depreciation is considered to be absent in this case. The NPV of the business is calculated using the table below. Year 0 1 2 3 Cash inflow Number of cupcakes sold 70000 80000 90000 Unit Price ($) 2.7 2.7 2.7 Total Revenue ($) 189000 216000 243000 Sale price of business ($) 150000 Cash outflow Royalty Payment ($) 15120 17280 19440 Contribution towards marketing 9450 10800 12150 Cost of ingredients 26600 30400 34200 Annual Rental 18200 18200 18200 Annual Outgoings 3500 3500 3500 Annual Shop Assistant Wage 32256 32256 32256 Annual baker wage 68544 68544 68544 Annual superannuation contribution 9576 9576 9576 Initial investment in fittings and equipment 200000 Total cash outflow($) 200000 183246 190556 197866 Net cash inflow/(outflow) pre tax -200000 5754 25444 195134 Tax @ 30% 0 1726.2 7633.2 58540.2 Post tax net cash inflow ($) -200000 4027.8 17810.8 136593.8 PV of discounted cash flow -200000 3472.241 13236.33 87509.87 NPV ($) -95781.57 The NPV of the given business is -$ 95,781.57 3. The formula for profitability index is as shown below. Profitability index = (NPV + Initial Investment)/Initial Investment Profitability index = (-95781.57 + 200000)/200000 = 0.52 4. The investment in not financially viable since the NPV of the project is negative. Hence, Jane should not make an investment in the project (Parrino Kidwell, 2011). 5. From the article, it is apparent that there are significant business risks that are attached with the cupcake business. In order to overcome these risks, it is imperative that Jane should look to build up a brand and there focus on the whole value chain. This is imperative due to the low entry barriers and difficulty in differentiation. Thus, Jane should try to a premium baker with a strong brand so that it could differentiate itself from the competitors whose offering may be quite similar (Petty et. al., 2015). Thus, the current strategy of Jane of low price volume model may not be suitable as the market share in the cupcake market tends to be dynamic. Case Study 4 1. The requisite table is shown below (Dominos, 2015; RFG, 2015). Particulars EPS ($) Growth Rate (EPS) % Dominos RFG Domino RFG 30th June 2010 0.25 0.25 30th June 2011 0.3 0.25 20.00% 0.00% 30th June 2012 0.372 0.26 24.00% 4.00% 30th June 2013 0.391 0.26 5.11% 0.00% 30th June 2014 0.505 0.27 29.16% 3.85% 30th June 2015 0.742 0.22 46.93% -18.52% Dominos Enterprises (Dominos, 2015) Net profit margin = Net profit/ Total Revenue = (68421/539138)*100 = 12.69% Asset Turnover Ratio = Total Revenue/ Total Assets =539138/630600 = 0.85 Leverage Ratio = Total Liabilities /Total Equity = 325544/305056= 1.067 Return on Equity = Net profit/Total Equity =(68421/305056)*100 = 22.43% RFG (RFG, 2015) Net profit margin = Net profit/ Total Revenue = (34219/120768)*100 = 28.33 Asset Turnover Ratio = Total Revenue/ Total Assets = 120768/680048 = 0.177 Leverage Ratio = Total Liabilities /Total Equity = 276266/403782 = 0.68 Return on Equity = Net profit/Total Equity =(34219/403782)*100 = 8.47% Quick Ratio (RFG) = (Current Assets Inventory)/Current Liabilities = (90182-20901) /97025 = 0.71 Net debt to equity ratio (RFG) = Total Liabilities /Total Equity = 276266/403782 = 0.68 Quick Ratio (Dominos) = (Current Assets Inventory)/Current Liabilities = (116547-12282) /131131 = 0.795 Net debt to equity ratio (Dominos) = Total Liabilities /Total Equity = 325544/305056= 1.067 2. It is apparent from the above stats especially the EPS, that the performance of Dominos has been significantly better than that of RFG. This is apparent from the fact that in 2010, both companies had an EPS of $0.25. However, five years hence, the EPS of Dominos has enhanced to $ 0.742 while that of RFG has further languished to $ 0.22. This robust increase in the business and corresponding profitability has also reflected in the share prices of the shares of the both the companies over the period of five years (Parrino Kidwell, 2011). 3. The Total Return to Shareholders over the last five years for the two companies is summarised below. Total Return to Shareholders (Dominos) = 55.35% pa Total Return to Shareholders (RFG) = 30.16% pa The variables that impact the total return to shareholders are the dividend payments and share price. Since the EPS of the Dominos has witnessed a stupendous growth, this has also reflected in the stock price and the dividend paid. Normally, the higher the profits of the company, the higher would be the absolute dividend payouts to shareholders. This trend is also reflected in the below shown data. Date Adjusted Closing Price Dividends Paid ($) Domino RFG Domino RFG June 30, 2010 4.12 1.7 June 30, 2011 5.04 1.67 0.317142 0.192857 June 30, 2012 8.79 2.01 0.35 0.228572 June 30, 2013 10.19 3.25 0.422858 0.264285 June 30, 2014 20.67 3.99 0.472857 0.3 June 30, 2015 35.09 5.04 0.622857 0.325 In the last five years, the dividend payments for Dominos have become twice unlike RFG. Also, the stock price of Dominos has become almost 9 times since 2010 unlike PFG where the price has become only thrice in the last three years. The above difference is mainly linked with the respective financial performance of the two firms (Damodaran, 2008) Case Study 5 1. The completed table is shown below. DMP RFG Date 16 August, 2016 16 August, 2016 Last Price (AUD) 74.11 5.84 Shares Outstanding (M) 87m 164.97m Market Cap (B AUD) 6.45 0.96 Earnings Per Share (AUD) (TTM) $0.74 $0.26 Current P/E Ratio (TTM) 100.15 22.46 Dividend (AUD) (TTM) $0.518 $0.3536 Current Dividend Yield (%) 0.70 6.05 2. The completed table is shown below (Brigham Ehrhardt, 2013). Definition/Explanation Last Price (AUD) The last trading price of a particular share Shares Outstanding (M) It refers to the total number of shares that have been authorised and issued to the various shareholders of a given firm Market Cap (B AUD) It refers to the market value of the outstanding shares of the company. Market cap = Market price * Outstanding shares Earnings Per Share (AUD) (TTM) It is the amount of net profit that is attributed to each of the equity shareholder of the company during the last 12 months Current P/E Ratio (TTM) P/E ratio = Current Market Price/Earnings per share (TTM) Dividend (AUD) (TTM) The amount of money that the company pays from profit to company shareholders based on the number of shares held. Current Dividend Yield (%) Current Dividend Yield = (Dividend/Current Market Price)*100 3. It is apparent from the table above that market value of Dominos share is significantly greater than that of RFG. Additionally despite the difference in outstanding shares, the market capitalisation of Dominos is more than six times that of RFG which is indicative that amongst the two companies Dominos has more net worth as compared to RFG. The Dominos share is trading at a very high P/E in comparison with RFG which is indicative of the high growth potential of Dominos in the view of shareholders. Further, the main source of income for Dominos shareholders is expected in the form of capital appreciation as the dividend yield is very low. This is not true for RFG where the dividend yield at around 6% continues to be lucrative (Brealey, Myers Allen, 2008). References Brealey, R, Myers, S Allen, F 2008, Principles of Corporate Finance, 9th edn, McGraw Hill Publications, New York Brigham, EF Ehrhardt, MC 2013. Financial Management: Theory Practice, 14th edn., South-Western College Publications, New York Damodaran, A 2008, Corporate Finance, 2nd edn, Wiley Publications, London Dominos 2015, Annual Report 2015, Dominos Website, Available online from https://dominosinvestors.com.au/?utm_source=dominosutm_medium=websiteutm_term=investorsutm_campaign=menulink (Accessed on August 17, 2016) Parrino, R Kidwell, D 2011, Fundamentals of Corporate Finance, 3rd edn, Wiley Publications, London Petty, JW, Titman, S, Keown, AJ, Martin, P, Martin JD Burrow, M 2015, Financial Management: Principles and Applications,6th edn, Pearson Australia, Sydney RFG 2015, Annual Report 2015, RFG Website, Available online from https://www.rfg.com.au/images/investor_docs/RFG2015AnnualReport.pdf (Accessed on August 17, 2016) Yahoo Finance 2016, Historical Price of Stocks, Available online from www.yahoo.finance.au (Accessed on August 16, 2016)