Financial Management Essay Example | Topics and Well Written Essays - 1500 words

Financial Management - Essay Example 2,000 liabilities and stockholders’ equity liabilities: overdraft $ 1392 Interest payable $ 4032 loan payable $ 24,000 Campbell loan payable $ 8,068 retained earnings $ 6,608 Common Stock $ 60,000 Total $ 100,068 Vertical Analysis PROFIT AND LOSS STATEMENT Company A Company B NET SALES 100% 100% COST OF GOODS SOLD 95.2% 78% GROSS PROFIT 4.8% 22% SELLING, GENERAL AND ADMINISTRATION EXPENSE 2.6% - OPERATING INCOME BEFORE IMPAIRMENT RECOVERY 2.2% - IMPAIRMENT RECOVERY 0 - Intangible asset repairment charges - 0.8% OPERATING INCOME 2.2% 3% OTHER INCOME/(EXPENSE) 0.1% CHANGE IN VALUE OF DERIVATIVE LIABILITY 0.2% - INTEREST EXPENSE 0.8% - INCOME BEFORE INCOME TAXES 1.6% 3.1% Income taxes 0.6% 0.9% Net income 1% 2.3% BALANCE SHEET COMPANY A COMPANY B Current Assets: Cash 1.6% 27.1% Trade accounts receivables 20.94% 17.3% Inventories 68.25% 22.9% Prepaid expenses 2.8% Deferred tax assets 1.25% - Other current assets 4.09% - Property plant and equipment 1.49% 14.5% Intangible assets - 0.8% Cash surrender value of life insurance - 10.9% Advance to suppliers, net of imputed interest 1.66% - Preferential supply agreement 0.19% - Long term financing costs, net of amortization 0.50% - Other assets - 3.7% Total assets 100% 100% Liabilities and stockholders equity: Current liabilities: Accrued salaries, wages and benefits - 2.6% Notes payable-banks 57.25% - Current maturities of mortgage payable 0.05% - Trade accounts payable 18.55% 6.2% Income tax payable 1.51% - Accrued expenses and derivative liabilities 1.51% - Dividends payable 0.008% 0.7% other accrued expenses - 0.5% Total current liabilities 78.9% 10% Deferred compensation - 4.8% Mortgage payable, net of current maturities 0.54% - Subordinated convertible debt net of unamortized discount of $2499 3.52% - Derivative liability for embedded conversion option 0.71% - Deferred taxes payable 0.07% - Stock holders equity: Common stock 0.4% 11.6% Additional paid in capital 4.42% - Retained earnings 13.0% 73.6% Accumulat ed other comprehensive loss (0.7%) 0.07% Treasury stock (1.30%) - Total liabilities and shareholder’s equity 100% 100% Cash flow statements Company A 2011 Cash flow from operating activities Net income 116.07% Adjustments to reconcile net income to net cash in operating activities Depreciation and amortization 10.15% Change in value of derivative liability -20.96% Amortization of convertible note discount 7.72% Impairment recovery 0.00% Provision for doubtful debts 4.84% Deferred income taxes -13.20% Foreign exchange loss, and others -0.26% Changes in: Restricted cash 0.00% Trade account receivable -364.62% Inventories -1225.27% Other current ass

Ancient and Medieval Cultures Essay Example | Topics and Well Written Essays - 500 words

Ancient and Medieval Cultures - Essay Example Also God spoke to man through dreams and visions in the book of Genesis. After the destruction that happened at the time of Noah, God promised himself that he will never bring similar destruction ever to mankind. God and man had a close, clear cut fellowship in the book of Genesis. Man and woman were very innocent when God created them. It is not given anywhere that they had any sexual feelings before committing sin. Sex came into picture only after man committed sin. Adam and Eve could realize their nakedness only after they committed sin. Man lost his naà ¯ve nature only when he displeased God. So the most important consequence of the sin committed by man was that he lost his innocent nature and sexual nature started appearing in him. When God created man, God gave him certain special blessings but woman was not given any special blessings like that. God created woman because man needed a perfect match for him. In short woman was created for the sake of man. Man got life out of the breath of God but woman was created from man. Also man was given the responsibility of taking care of Eden Garden. It was woman not man who committed sin first. Devil knew that it would be easy to influence woman than man. All these reveal the inferior nature of woman. Before committing sin Adam was found to be a complete man with all the blessings of god. God gave him many rights and made him the king of Eden. He had every right over nature and over all living and non-living beings of this world. He was given the responsibility of protecting Eden Garden. He was given full right over all resources of Eden garden. He was the master of the nature and everything it constitutes, and was not a mere part of it. God created everything for man only. He had more rights than the powerful angels who serve God. God punished Cain for killing his brother Abel, and Cain had to be a cursed fugitive roaming all

CIA Operation PBSUCCESS Essay Example | Topics and Well Written Essays - 1000 words

CIA Operation PBSUCCESS - Essay Example "PB" here stands for "Presidential Board" while SUCCESS is used to express the general optimism and confidence that this operation would achieve its objectives. Its main objective was overthrowing the popularly-elected Guatemalan President, Jacobo Arbenz Guzman. This was because his government had presented various new policies that the US was of the opinion that they were Communist. The US suspected the influence of the Soviet Union in this. The US clearly hated Communism and all its principles. They could therefore do anything to stop it. Moreover, Communism threatened to oust the US as the world's super power. They had to fight this at all costs to continue with this domination. For Guatemala, Communism posed a threat to the US interests in that country and even neighboring ones. They had to intervene to secure these interests. The US was therefore killing two birds with one stone in Guatemala. The US feared that Guatemala becoming a "Soviet beachhead." Guzman introduced land reform acts were seen as antagonizing United Fruit Company, a US-based multinational. This company had great stakes in the earlier Guatemala administration and urged the US to intervene. The operation took place between 1953 and 1954. ... Later there was another operation known as "Operation PBHISTORY". Its aim was gathering and analyzing Guatemalan government documents. The US would later use these documents to portray Guzman as puppet of the Soviet Communists. During the administration of two of Guzman's predecessors, Jorge Ubico and Manuel Cabrera, Guatemala was open to foreign investment, with Ubico specially favoring the United Fruit Company. The UFC then invested heavily in the country. It bought controlling stocks of the rail, electricity and telegraph utilities. It won control over most of Guatemala's best land. Ubico administration greatly protected the interests of the United Fruit Company. Soon after the inauguration of Dwight Eisenhower as the US President in 1953, scrutiny of CIA covert action operations started. Eisenhower set up an evaluation known as Solarium that comprised three committees that did an analysis to find out which action plans should go on. Later, CIA's covert activities were kept under close check. Questions arose as to whether CIA covert operations were proper and if they served national interests (Cullather, 2006). According to David Bruce, a presidential advisor on foreign intelligence activities, these covert actions were responsible for sparking turmoil and raising doubts about the US in numerous countries worldwide. The US faced political condemnation worldwide because of the role it played in having President Guzman overthrown. The US damaged its reputation in Latin America and also angered its allies. It was heavily criticized even by the United Nations (Kinzer and Schlesinger, 1999). There was strong resentment in the Caribbeans and Latin America. This played a part in damaging the stability of Guatemala and Latin