Thursday, October 31, 2019
A Responed to Wolf Prix Lecture Essay Example | Topics and Well Written Essays - 250 words
A Responed to Wolf Prix Lecture - Essay Example c space versus private space; enumeration of seven lines applicable to architecture; operating in an open society as contrasted to a closed society; and generally on thinking outside the box; of breaking conventional rules to create architectural structures that are innovative and remarkable. One is therefore inspired with the speaker’s words and the lessons that were emphasized in the lecture. Apart from signifying that architectural students should not simply have theoretical knowledge, skills and abilities to design and build; contemporary students of architecture should manifest the desire to be innovative, creative and to think outside the box and soar to great heights. The presentation shown was appropriate for the lecture and enhanced the emotional appeal and interest of the audience. By showing magnificent and unconventional architectural structures, the audience was made to realize that it takes more than just the ability to absorb the minimal framework to be an effective and successful architect – it takes the burning desire to be radical: in thinking, in designing and in building. Prix, Wolf. Sci-Arc Video on the Lecture of Wolf Prix . 2011. Web. 6 December 2011
Tuesday, October 29, 2019
Shapers Family Shop Sales Inventory System Essay Example for Free
Shapers Family Shop Sales Inventory System Essay CHAPTER I INTRODUCTION AND ITS BACKGROUND Introduction: Computers make works easier and faster. With this thing, you can create anything like programs that may help you make your work easy. Now, we have Sales Inventory System which can be consider a big help when it comes to large businesses. It can make your work more detailed, faster, accurate and less error. The researchers conduct an interview with the owner of Shapers Family Shop at 10518 Grove Street, Lopez Avenue, Brgy. Batong Malake, Lopez Avenue, Los Baà ±os, Philippines. (Abdul Hakeem Esmail, 2011) Manual inventory is a handmade list of materials or goods used in certain business. Like in Shapers Family Shop, they are still using a manual inventory. With this process, they might encounter some problems or difficulty. Manual inventory relies heavily on the actions of people, which increases the possibility of human error. People might forget to record a transaction or simply miscount the number of goods. This may results in needless additional orders that increase the companys inventory carrying costs, meaning the business could run out of a crucial item at the wrong time. (Chris Joseph, 2011) Meanwhile, there is this thing called sales and inventory system. This system can replace the cost and time consuming processes that were once completed by hand while providing companies with more accurate data. This system is used to track the merchandise and goods of retail stores, grocery stores, hardware stores, etc. Automated inventory systems play a large role in today’s businesses, especially the retail industry. This is because businesses want the ability to access and organize data in a quick and efficient manner. (Lexi Hartman, 2005) Background of the Study In the year August 1, 1990, Mr. Vital started a business named, Shapers Family Shop at 10518 Grove Street, Lopez Avenue, Brgy. Batong Malake, Lopez Avenue, Los Baà ±os, Philippines . This shop has 3 components; Computer shop, Boutique Shop and Parlor Shop. It provides the customers t-shirt printing, renting of computers, body accessories, document or thesis printing, scanning and hair treatments. Shapers Family Shop uses a manual inventory system that causes some human error and time consuming for the transactions. The other problem is that, they only have limited staff who helped them handling the inventory. After hearing the background of the business and the common problems that they have encountered, the proponents planned to help them to lessen the errors and the time consumed by providing a sales and inventory system. Sales and Inventory System is a kind of software that allows businesses to input their inventory, track and manage the incoming and outgoing products that were delivered and sold. This research study aims to create a sales and inventory system for Shapers Family Shop that the owner and the staff may use to make the records of their sales and products accurate. It can also make their work easier and more detailed because it will lessen the time they use in recording the goods or merchandises. PROBLEM DEFINITION This section states the main and specific problems that basically point to the need of an advance method of montoring the sales and inventory system of Shapers Family Shop. It also cites the inconvinience and problems identified on the current system Main problem of the study: Shapers Family Shop is using a manual inventory system that encounters unorganized list of products and sales, unknown total income at the end of the day and time consuming for listing and counting manually the products sold and sales. It does not update at the end of the day with updated inventory counts. This means you must go through the inventory items each time you need to place an order for new products or supplies for the inventory. The specific problem of the study: The study, therefore, sought to answer the following questions 1.How much is the estimated income in one day? 2.How can the employee list the items sold during a single work day? 3.How many is the estimated sold products in one day? 4.How can the owner view the list of all products? Objectives of the Study This section discusses the main and specific objectives of the study that will solve the problems which has been identified. Main Objective of the study: The main objective of the project is to design and develop a Sales and Inventory System that will show the list of sold products, compute the income for the day, lessen the consumed time in recording the sales and minimize the possibility of having an error while recording the sales. The specific objectives of the study: Specifically, the study aims to 1.To make the computation of daily income accurate. 2.To lessen the difficulty in listing the products sold. 3.To make it easy to count the list of products sold. 4.To make it easy to view and search the products. RESEARCH FRAMEWORK This section discusses the theories that the proponents came up from the related studies that they gathered. This help the proponents to understand better and analyze the different dimensions of the study. Theoretical Framework This table shows the Tangible benefits of the Shapers Sales Inventory System. Tangible Benefits Worksheet Shapers Sales Inventory System (Year 1-5) A.Cost Reduction or Avoidance30, 000 B.Error Reduction 5,000 C.Increased Flexibility10,000 D.Increased Speed of Activity10,000 E.Improvement of the Management35,500 Planning or Control F.Other ______________________0 TOTAL Tangible Benefits P90, 500 This table shows the One-Time cost of Shapers Sales Inventory System. One-Time Cost Worksheet Shapers Sales Inventory System (Year 1-5) A.System Development50,000 B.New Hardware And Software purchase65,000 C.User Training5,000 D.Site Preparation0 E.Data or System conversion0 TOTAL One-Time CostP120, 000 This table shows Recurring Cost of Shapers Sales Inventory System. Recurring Cost Worksheet Shapers Sales Inventory System (Year 1-5) A.Application software maintenance10,000 B.Incremental data storage expense 5,000 C.Incremental Communications 5,000 D.New Software and Hardware leases 0 E.Supplies and other expenses10,000 TOTAL Recurring Cost P30, 000 This table shows the Cost –Benefit Analysis of Shapers Sales Inventory System. SCOPE AND LIMITATIONS OF THE STUDY Scope and Limitation The study focused mainly on the sales inventory system of Shapers Family Shop. The proposed system has the modules containing all the information about their sales and the items being process. All information is stored in the database which contains security features in order to protect the data from the unauthorized use. This study will be conducted in Los Baà ±os, Laguna. It involves interviews to the owner of the shop and observations of their process and lifestyle that may help to identify problems on their business. This study intends to resolve the following problems that were mentioned in Main and Specific Problems of the Study. It will also help them to have a consistent and organized process for their business. The respondents of this study are the owner of the shop and their staff. This study will be conducted for a week only. The first day will be the interview to the respondents and the next day/s will be the thesis proposal. The researchers will be using VB.Net and MYSQL. Significance of the Study The proponents decided to develop a sales inventory system for Shapers Family Shop. It specifically aimed to resolve each problem and lessen the difficulties of the business and its staff. There are several beneficiaries of this study and these include the Shapers Family Shop itself. With the functions catered by this system, the performance of the work inside the business may improve. The expenses of the company which are reserved for the materials to be used in the current manual system will be minimized because this system does not require massive amount of papers for the filing and documentation. This system is regarded to be very useful to the owner of Shapers Family Shop. Since they are the ones who will use the system, it will make their work fast and error-free. There is a huge difference between the usage of their current system and the usage of this system, because this system features some functionality that reduces time and effort in placing items and sales description, easily monitor the sales and generate reports for improving their works. The primary beneficiaries also include future researchers, in which they can use this study as a reference material. This study shares information to future researchers about the sales monitoring, as well as the inventory system of the said business. Lastly the proponents benefitted in this study, especially during the data assessment process and system development. The proponents acquired several skills that can be used for their future jobs in terms of dealing with clients, as well as developing a system that may contribute to the IT industry.
Saturday, October 26, 2019
Importance Of Profit And Loss Account Accounting Essay
Importance Of Profit And Loss Account Accounting Essay The Profit and Loss Account is a Financial Statement which summarizes a companys revenue and expenditure for a specific period of time, usually prepared annually or quarterly. These statements provide information that shows the ability of a company to generate profits by increasing its revenues and reducing costs. The Profit and Loss Account is also known as a Statement of Profit and Loss, an Income Statement or an Income and Expense Statement. IMPORTANCE OF PROFIT AND LOSS ACCOUNT : Profit and Loss Account represents a companys ability to generate income through their business operations. Many times businesses will need financing to help create the facilities for their operations. Smaller companies usually obtain bank loans that are based on the amount of income a company has earned from past operations. Solid Profit and Loss history is essential for getting the best loan terms. Profit and loss statements are important also because many companies are required by law or association membership to complete them. Apart from this, a profit and loss statement will help the company to understand their net income, which may be helpful in decision-making processes. That is, it gives one the information needed to grow or expand his business. KEY ITEMS OF THE PROFIT AND LOSS ACCOUNT : Income from Sales Cost Of Goods Sold Gross Profit Operating Expenses Net Profit from Operations Other Income Other Expenses Net Profit STANDARD STRUCTURE OF A CORPORATE PROFIT AND LOSS ACCOUNT: Profit and Loss Account for the year endedà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ Particulars Rs. Particulars Rs. To Gross Loss à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Gross Profit à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Salaries à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Interest Received à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Rent à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Commission Received à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Rent and Rates à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Other Receipts à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Discount Allowed à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Etc., Etc. à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Commission Allowed à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. By Net Loss (Transferred to Capital Account of the Trader) xxxx To Insurance à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Bank Charges à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Legal Charges à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Repairs à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Advertising à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Trade Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Office Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Bad Debts à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Travelling Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Etc., Etc. à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. To Net Profit (Transferred to Capital Account of the Trader) xxxx Profit and Loss Account for the year endedà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦(Statement Form) Particulars Rs. Rs. Rs. Income From Sales: Sales à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Less: Sales Returns à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Sales Discount à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Net Sales à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Cost Of Goods Sold: Stock as on 1stJanuary à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Purchases à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Less: Purchase Returns à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Net Purchase à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Cost Of Goods available for sale à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Less: Stock as on 31stDecember à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. COGS (Cost Of Goods Sold) à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Gross Profit xxxxxx Operating Expenses: Selling Expenses:- Sales Salary à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Advertising Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Insurance Expenses selling à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.. Store Supplies Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Sundry Selling Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Total Selling Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. General Expenses: Office Salaries à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Taxes à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Insurance Expenses general à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Office Supplies Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Sundry General Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Total General Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Total Operating Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Net Profit from Operations xxxxxx Other Income: Rent Income à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Other Expenses: Interest Expenses à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. NET PROFIT xxxxxx GIVEN BELOW IS THE PROFIT AND LOSS ACCOUNT OF TATA STEEL LIMITED :- (This will help us understand the purpose of a Profit and Loss Account and also enable us to understand how a Profit and Loss statement is made.) Profit Loss Tata Steel Ltd Mar12 Mar11 Mar10 Mar09 12 Months 12 Months 12 Months 12 Months INCOME: Sales Turnover 37,005.71 31,901.94 26,757.60 26,843.53 Excise Duty 3,167.20 2,594.59 1,816.95 2,495.21 NET SALES 33,838.51 29,307.35 24,940.65 24,348.32 Other Income 0.00 0.00 0.00 0.00 TOTAL INCOME 34,389.27 29,635.26 25,272.24 24,653.68 EXPENDITURE: Manufacturing Expenses 5,608.38 4,463.65 3,803.33 3,349.96 Material Consumed 9,696.65 9,222.27 8,491.42 8,279.44 Personal Expenses 3,047.26 2,618.27 2,361.48 2,305.81 Selling Expenses 1,832.40 109.36 82.17 61.49 Administrative Expenses 2,119.56 1,922.33 1,622.77 1,518.83 Expenses Capitalised -478.23 -198.78 -326.11 -343.65 Provisions Made 0.00 0.00 0.00 0.00 TOTAL EXPENDITURE 21,826.02 18,137.10 16,035.06 15,171.88 Operating Profit 12,012.49 11,170.25 8,905.59 9,176.44 EBITDA 12,563.25 11,498.16 9,237.18 9,481.80 Depreciation 1,151.44 1,146.19 1,083.18 973.40 Other Write-offs 0.00 0.00 0.00 0.00 EBIT 11,411.81 10,351.97 8,154.00 8,508.40 Interest 1,925.42 1,686.27 1,848.19 1,489.50 EBT 9,486.39 8,665.70 6,305.81 7,018.90 Taxes 3,162.63 2,912.44 2,168.50 2,114.87 Profit and Loss for the Year 6,323.76 5,753.26 4,137.31 4,904.03 Non Recurring Items 372.66 1,107.89 909.49 297.71 Other Non Cash Adjustments 0.00 0.00 0.00 0.00 Other Adjustments 0.00 4.54 0.00 0.00 REPORTED PAT 6,696.42 6,865.69 5,046.80 5,201.74 KEY ITEMS Preference Dividend 0.00 0.00 45.88 109.45 Equity Dividend 1,165.46 1,151.06 709.77 1,168.95 Equity Dividend (%) 119.97 119.97 79.98 159.95 Shares in Issue (Lakhs) 9,712.14 9,592.14 8,872.14 7,305.92 EPS Annualised (Rs) 68.95 71.58 56.88 71.20 [The portion highlighted by a black box shows the Profit earned by Tata Steel Limited from 2008 -2012] HOW THE PROFIT AND LOSS ACCOUNT HELPS THE CORPORATE DECISION MAKERS TO SHAPE THEIR DECISIONS? A Profit and Loss account provides a collection of operating data that can be used by corporate decision makers to improve corporate operations. Regular review of this statement can help the entrepreneur to adjust the strategic paths of the company based on the prevailing economic conditions. A Profit and Loss statement also helps outside investors to measure a firms economic viability in the long run. Also; Analyzing a statement of profit and loss gives corporate leaders the tools necessary to measure competitors progress in the market, hence improve their market share. The Profit and Loss account gives a clear view of all the expenses and incomes of the firm, hence a regular analysis of these statements help firms cut down their expenses. Creating a forum through which business unit leaders discuss and help top leaders set performing segments apart from activities that generate less than mediocre revenue. By reviewing the firms revenues and expenses, management can decide which segment to sell. A profit-and-loss report indicates to the rest of the world the corporate segments that are thriving, emphasizing products that positively affect the corporate bottom line.
Friday, October 25, 2019
Aims of Training and Development Essay -- Business and Management Stud
Aims of Training and Development Training can be teaching employees new skills that are relevant to their current job position or refreshing the skills that they already possess. To have a good training and development programme enables firms to develop individual employees and the organisation itself as training is one of the best forms of motivation. Employees are able to broaden their knowledge and become more valued within the firm. Having a well-trained workforce is greatly beneficial for a company as employees are likely to be more motivated and target driven. Also various jobs and tasks are likely to be carried out more efficiently if the workforce is highly skilled at what they do. Listed below are some off the main benefits to a company in having a well-trained workforce: - Training and development will enable a company to have a much more flexible workforce - Employees will become more motivated and are then likely to be more productive - If employees are offered advanced training in areas such as ICT, HSBC may find that can progress further as a firm into more advanced markets - If employees are motivated and comfortable in the work they do there will be a fall in absenteeism - If employees are properly trained in health and safety accidents around the workplace will be reduced Ø Types of Training The three main types of training that companies offer are: - Induction Training - On-the-job Training - Off-the-job Training Induction Training This involves introducing new employees to the workplace, existing employees and showing them what the job will entail. It is important that the they get an idea of how the company is run, the companies history and that they get familiar with the services and products the company offer. During the induction process employees will be shown health and safety procedures and the basic layout of the workplace. This is so they know where an appropriate member of staff if a problem was to occur. The induction process allows employees to gain essential knowledge before starting their job and ensures safety and maintenance in the workplace. On-the-job Training During on-the-job training employees are taught the skills and techniques they need while actually carrying out their job. Types of on-the-job training include Coaching and Mentori... ...nowledge and this will depend on their learning ability and training needs. To plan this properly HSBC design a training and development plan and use it to summarise the required financial support. The training is split into: Ø Training and Competence Ø Management Development Ø Supervision/team leader courses Ø Professional qualifications Ø Maintenance of professional knowledge Ø Learning Centre Ø Individual training needs – HSBC Ø Individual training needs – external The finance department will budget a certain amount for training and the training department will have to make sure they stick to it. This means that the training department would have to justify all costs associated with the various training and development methods. They would have to assess how many hours and how many workers the training will use to get a rough idea of the cost. Clearwater Strategy HSBC use a strategy known as â€Å"Clearwater†. This is a strategy for differentiating the bank from its competitors through the provision of high quality customer service. This would create an environment conducive to increased sales producing income growth and thus increased profitability.
Wednesday, October 23, 2019
Tata Consultancy Services Research Report
25 November 2012 Sector: IT Consulting & Software CMP: 1288 Rating: BUY Target Price: 1500     Stock Info Investment Period: 15months Introduction: Tata Consultancy Services Limited is an Indian multinational information technology services, business solutions and outsourcing Services Company founded by JRD Tata in the year 1968 headquartered in Mumbai. TCS is a subsidiary of the Tata Group. It is one of India's most valuable companies and is the largest India? based IT services company by 2012 revenues. It has 183 offices across 43 countries and 117 delivery centres across 21 countries.It also has 58 subsidiary companies. Products : TCS provides a wide range of IT rela ted products such as; application development, BPO (business process outsourcing), consulting, enterprise software, payment processing, software management and education services. Following are the service lines and their percentage to the total TCS revenue in the Q2 2012? 13:? Application development and maintenance: ADM is a part of IT that works with the business to develop new software, keep it running and make ongoing improvements.Asset leverage solutions:   Assurance services: Assurance services provide independent and professional opinions that reduce the information risk (risk that comes from incorrect information). Business intelligence: BI is the ability of an organization to collec t, maintain, and organize knowledge. This produces large amounts of information that can help develop new opportunities. Market Cap: 2,52,109crs Equity: 195. 7crs Face Value: 1 52 Week H/L: 1438? 1045 Key Financials (in crores)  Net Sales EBIDTA Margin % Net Profit EPS Dividend FY 11? 12 38,858. 55 33. 87 13366. 33 55. 97 25 FY 10? 11 29,275. 0 29. 47 8700. 44 38. 62 14 Valuation Summary FY 11? 12 20. 60 8. 5 55. 31 44. 24 0. 72 FY 10? 11 23. 7 10. 4 44. 38 38. 80 na Price to Earning Price to Book RoCE % RoNW % Beta Absolute Retune 3months 1year 5. 3% 3years 131. 7% TCS 30. 1% Sensex 3. 70% 17. 90% 7. 70% Share Holding Pattern (%) Promoter FII DII Retail 74 15 6. 5 4. 5 Promoter and Promoter group: Tata Sons Ltd – 73. 75% Others – 0. 25% Foreign Institutional Investors: Number of FII Shareholders – 853 some of them include; †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Domestic Institutional Investors: Life Insurance Corporation of India – . 10% Franklin Templeton Investment Funds – 1. 67% Others – 1. 73% Retail : Individuals with value less than 1lac – 3. 5% Individuals with value more than 1lac – 1% Dividend Policy (Mar’12): Indicators TCS Wipro EPS D/P Ratio (%) D/R Ratio (%) Div Yield (%) Face Value Book value  55. 97 52 48 1. 94 1 19 36. 60 63. 40 1. 64 2 HCL 28. 13 49. 50 50. 50 1. 87 2 95. 25 Business process outsourcing: BPO is a subset of outsourcing that involves the contracting of operations and responsibilities of specific business functions or process to a third party service provider.Consulting: IT consulting is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. Engineering and Industrial services:  E deliver engineering excellence and operational efficiency, ensuring a competitive advantage. Enterprise solutions: An enterprise solution is any business tool that reliably empowers you to access, share and apply resources with any of your peers and customers, anyw here, at any time.IT infrastructure services: IT Infrastructure Services (IS) Or Infrastructure Management Services (IMS) deliver end? to? end, effective and reliable solutions that transform help to business operations. Services Contribution to Quarter on overall revenue Quarter (%) (%) AMD 43. 1 3. 8 Engg Srvcs 4. 6 4. 6 IMC 11. 4 12. 5 EAS 14. 9 2. 5 Consulting 3 12 Products 2. 7 0. 8 Testing 7. 7 5. 9 BPO 12. 6 1. 3 IMC was the key growth service line, expanding 12. 5% QoQ, followed by Consulting which also grew 12% QoQ. BPO, EAS and Products lagged during the last quarter. Sector Wise Performance (Q2 2012? 3): Verticals Contribution to Quarter on overall revenue Quarter (%) (%) BFSI Mfg Telecom Healthcare Retail Transportation Energy  Media Hi? Tech Others 126. 50 99 42. 8 8. 2 10. 3 5. 2 13. 4 3. 6 3. 6 2. 2 5. 9 4. 9 4. 6 9. 0 5. 1 3. 1 6. 6 2. 2 5. 1 5. 1 3. 3 7. 2 Capital Structure (in crores)  Mar’12 Mar’11  Shareholder’s funds Equity 195. 72 195. 72   Preference 100 100 Reserves 24560. 90 19283. 77 Net worth 24856. 63 19579. 50 Debt funds Secured  93. 47 35. 87 Unsecured  2. 76 5. 25 Total Debt 96. 23 41. 12 Total 24952. 86 19620. 1 Capital *Preference Shares worth 100crs issued to Tata Sons Ltd (the holding company) which would be redeemable at par at the end of six years from the date of allotment ie. March 28, 2008, but may be redeemable any time after 3years from the date of allotment at the option of shareholder. These shares would carry a fixed cumulative dividend of 1% pa and a variable non? cumulative dividend of 1% of the difference between the rate of dividend declared during the year on the equity shares and average rate of dividend declared on the equity shares for three years preceding the issue of redeemable preference shares. BFSI grew 4. % QoQ, despite being affected by the current environment and contributed 87% to the incremental revenues. While telecom too grew at an impressive 5. 1% despite industry trouble, the manufacturing and retail verticals grew the fastest. Geographies Growth (Q2 2012? 2013): Verticals Contribution to QoQ (%) overall revenue (%) North America 52. 8 3. 2 Latin America 3. 4 7. 7 UK 17. 1 5. 2 Europe 9. 5 3. 5 India 7. 5 10. 5 APAC 7. 6 7. 4 MEA 2. 1 4. 6 *APAC – Asia Pacific, *MEA – Middle East and Africa Growth was driven by emerging economies. India (10. 5%) grew the fastest, followed by Latin America and APAC (7. % . 4%) respectively. UK (5. 2%) remained strong, with Europe and North America growing at (3. 5% . 2%). Board of Directors †¢ Executive Board Members Weighted Average Cost of Capital   Rf – Risk Free Rate of Return = 8%, Rm – Market Return (nifty) for 1year = 10. 80% (moneycontrol. com), Beta = 0. 72 (reuters. com) Tax Rate = 2390. 35/13366. 33 (tax expenses/PBT) = 17. 88%  We (proportion of equity) = E/ (E+D) = 24856. 60 / 24952. 85 = 0. 9961  Wd (proportion of debt) = D/ (E+D) = 96. 23 / 24952. 85 = 0. 0039  Kd (cost of debt) = Interest paid / total debt = 16. 0 / 96. 23 = 0. 1704  Tax Shield = 0. 1704 (1? 0. 1788) = 0. 1399  Ke (cost of equity) = Rf + B(Rm? Rf) = 0. 80 + 0. 72 (0. 108? 0. 08) = 0. 10  WACC = (We*Ke) + (Wd*Kd) = (0. 9961*0. 10) + (0. 0039*0. 1399) = 10. 015% N Chandrasekaran – CEO S Mahalingam – CFO †¢ Non? Executive Board Members Ratan Tata – Chairman S Ramadorai – Vice Chairman Cyrus Mistry – Deputy Chairman Suprakash Mukhopadhyay – Company Secretary Compliance Officer R Sommer, I Hussain, V Kelkar, A Mehta, V Thyagarajan, Laura Cha, C M Christensen, P A Vandrevala O P Bhatt – DirectorsCompetitors:  Infosys, Wipro, HCL, Mahindra? Satyam, Tech Mahindra, Patni Computers etc. Financial Summary Profit : Balance Sheet: 2011 Revenue from operations Other Income Total Income Expenses a. Employee benefit expenses b. Operation and other expenses 2012 2012   195. 72 100 24560. 91 24856. 63  96. 23 118. 10 197. 59 154. 78 566. 70  2847. 18 1598. 56 4389. 74 8835. 48 34258. 81    4012. 16 51. 46 1399. 82 5463. 44 5150. 15 139. 74 4332. 81 2636. 88 17723. 02  538. 24 4. 14 1567. 47 9107. 72 3280. 07 1648. 2 389. 43 16535. 79 34258. 81 2011   195. 72 100 19283. 77 19579. 49  36. 33 69. 32 129. 91 76. 17 311. 73  2153. 38 1584. 27 2413. 94 6151. 59 26042. 81    3363. 78 58. 40 1072. 86 4495. 04 5457. 91 52. 03 2864. 09 2603. 26 15472. 33  337. 58 5. 37 836. 37 4806. 67 3120. 52 1369. 05 94. 92 10570. 48 26042. 81 38858. 54 29275. 41 2685. 18 494. 73 41543. 72 29770. 14 14100. 41 10221. 85 13372. 41 10290. 03 c. Finance costs 16. 40 d. Depreciation 688. 17 and Amortisation 20. 01 537. 82 Total Expenses 28177. 39 21069. 1 Profit before Tax Tax expenditure: a. Current tax 13366. 33 8700. 43 2865. 38 1335. 73 30. 32 (235. 61) b. Deferred tax (38. 93) c. MAT credit entitlement Total (436. 10) 2390. 35 1130. 44 Profit after tax 10975. 98 7569. 99 Earnings Per Share 55. 95 38. 61 Liabilities Shareholders’ Funds Equity capital Preference capital Reserves TOTAL Non? current Liabilities  a. Long Term Borrowing b. Deferred tax liabilities (net) c. Other long? term liabilities d. Long term provisions TOTAL Current Liabilities a. Trade payables  b. Other current liabilities c. Short? erm provisions TOTAL SOURCES OF FUNDS  Assets Non? current Assets a. Fixed assets 1. Tangible assets 2. Intangible asset s 3. Capital work? in? progress TOTAL b. Non? current Investments c. Deferred tax assets (net) d. Long term loans e. Other non? current assets TOTAL Current Assets a. Current Investments b. Inventories c. Unbilled Revenue d. Trade receivables e. Cash and bank balances f. Short? term loan g. Other current assets TOTAL APPLICATION OF FUNDS Long? Term Provisions consist of provision for employees include gratuity and other employee benefits. Short?Term Provisions includes provision for employee benefits and for proposed final dividend on equity shares . Current Liabilities includes income received in advance, fair value of foreign exchange forwards and currency options contracts secured against trade receivables . Ratio Analysis with Peer Competition:? FY? 12  27. 52 29. 30 26. 15 55. 31 44. 24 126. 50 In (%)  Gross Profit Margin  Operating Profit Margin Net Profit Margin  Return on Capital Employed Return on Net Worth Return on Total Assets TCS Wipro FY? 11 FY? 12 FY? 11    Profitability Ratios 28. 2 17. 29 19. 62 29. 96 19. 63 21. 90 25. 44 14. 39 17. 96 44. 38 21. 41 22. 34 38. 80 99. 53 19. 23  20. 41 HCL Technologies FY? 12 FY? 11   24. 21 28. 18 25. 66 33. 64 29. 53  19. 13 23. 42 24. 31 21. 20 20. 45 Current Ratio Quick Ratio Debt? Equity Ratio Asset Turnover Ratio Fixed Assets Turnover Ratio Debtors Turnover Ratio 2. 45 2. 43 0. 01 1. 74à ‚ 5. 39 5. 59 Solvency Ratios 2. 41 1. 92 1. 45 2. 40 2. 48 2. 20 0. 01 0. 22 0. 22 Management Efficiency Ratios 4. 91 1. 14 3. 45 4. 91 3. 81 3. 45 7. 19 4. 61 4. 87 1. 38 1. 42 0. 11 1. 26 2. 88 4. 88
Tuesday, October 22, 2019
Mark Twain as a Realist Writer
Mark Twain as a Realist Writer Considered one of the great American Realist writers, Mark Twain is not only celebrated for the stories he tells but also the way in which he tells them, with an unmatched ear for the English language and sensitivity to the diction of the common man. To flesh out his stories, Twain also drew heavily on his personal experiences, most notably his work as a riverboat captain on the Mississippi, and never shied from portraying everyday issues in starkly honest terms. Dead-On Dialects Twain was a master of conveying the local vernacular in his writing. Read The Adventures of Huckleberry Finn, for example, and youll immediately hear the distinctive Southern dialect of that region. For example, when Huck Finn attempts to help Jim, a slave, escape to freedom by paddling a canoe down the Mississippi, Jim thanks Huck profusely: Huck yous de bes fren Jims ever had: en yous de only fren olde Jims got now. Later in the story, in chapter 19, Huck hides while he witnesses deadly violence between two feuding families: I staid in the tree till it begun to get ​dard, afraid to come down. Sometimes I heard guns away off in the woods; and twice I seen little gangs of men gallop past the log-store with guns; so I reckoned the trouble was still agoing on. On the other hand, the language in Twains short story The Celebrated Jumping Frog of Calaveras County reflects both the narrators upscale Eastern Seaboard roots and the local vernacular of his interview subject, Simon Wheeler. Here, the narrator describes his initial encounter with Wheeler: I found Simon Wheeler dozing comfortably by the bar-room stove of the old, dilapidated tavern in the ancient mining camp of Angels, and I noticed that he was fat and bald-headed, and had an expression of winning gentleness and simplicity upon his tranquil countenance. He roused up and gave me good-day. And here is Wheeler describing a local dog celebrated for his fighting spirit: And he had a little small bull pup, that to look at him youd think he wans worth a cent, but to set around and look ornery, and lay for a chance to steal something. But as soon as money was up on him, he was a different dog; his underjawd begin to stick out like the focastle of a steamboat, and his teeth would uncover, and shine savage like the furnaces. A River Runs Through It Twain became a riverboat cub- or trainee- in 1857 when he was still known as Samuel Clemens. Two years later, he earned his full pilots license. As he learned to navigate the Mississippi, Twain became very familiar with the language of the river. Indeed, he adopted his famous pen name from his river experience. Mark Twain- meaning two fathoms- was a navigational term used on the Mississippi. All of the adventures- and there were many- that Tom Sawyer and Huckleberry Finn experienced on the Mighty Mississippi relate directly to Twains own experiences. Tales of Abuse And while Twain is rightly famous for his humor, he was also unflinching in his portrayal of abuses of power. For instance, A Connecticut Yankee in King Arthurs Court, while absurd, remains a biting political commentary. And for all his pluck, Huckleberry Finn is still an abused and neglected 13-year-old boy, whose father is a mean drunk. We see this world from Hucks point of view as he attempts to cope with his environment and deal with the circumstances into which he is thrown. Along the way, Twain explodes social conventions and depicts the hypocrisy of civilized society. No doubt Twain had a terrific knack for story construction. But it was his flesh and blood characters- the way they spoke, the way they interacted with their surroundings, and the honest descriptions of their experiences- that brought his stories to life.
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