Satire Satire And Satire - 1498 Words

If there is a universal aspect of developed societies it most likely expresses itself in satire. Satire, as defined by Google is the use of humor, irony, exaggeration, or ridicule to expose and criticize people s stupidity or vices, particularly in the context of contemporary politics and other topical issues. It seems to be especially prevalent in the current climate of America, from South Park to the Onion one never has to go far to get entertaining commentary on the social or political happenings of the day. Satire is not a new literary device and satirical works have been documented in societies as ancient as the early Egyptian empire. It has made regular appearances in works of literature ever since. Despite the widespread and longstanding presence of satire on the earth, there are many who would say that satire is a largely American practice. This observation is likely due to the fact that one of the world s most famous satirists was born in America and oftentimes made America the subject of his works. This man s name was Mark Twain and he used his intimate knowledge of life in the South to write several satirical works commenting on the more disagreeable practices of Southern society. His most famous satirical work, The Adventures of Huckleberry Finn is rife with satirical commentary on topics such as racism, religion, and romanticism. In this novel, Twain uses his satirical skills to criticize what he views as negative aspects of Southern society, aspects such asShow MoreRelated Satire2542 Words   |  11 Pagesâ€Å"Satire is a sort of glass, wherein beholders do generally discover everybody’s face but their own† (Swift). Such beholders, as Jonathan Swift astutely emphasizes, are intended, through guidance of satiric narrative, to recognize social or political plights. In some satires, as in Swift’s own A Modest Proposal, the use of absurd, blatant exaggeration is intended to capture an indolent audience’s attention regard ing the social state of the poor. Yet even in such a direct satire, there exists anotherRead MoreSatire : Humor And Satire2675 Words   |  11 PagesHumour and satire are two concepts that are both wide ranging and diverse, from dark, to light hearted, with each producing a different effect. Humour in the main, is something that is used to please the audience, its function is to invoke laughter amongst its audience. Satire is used to create a comical critical view of the subject at hand, this can range from a light hearted comical way, to a judgemental way, with each style giving the text a different meaning, however this does not mean that satireRead MoreSatire : The Fundamental Function Of Satire1644 Words   |  7 Pagesin particular, slapstick comedy. Satire is a technique employed by writers and comedians alike to expose and criticise corruption and shortcomings of an individual or a society by using humour, irony and/or exaggeration. Ultimately, the writer feels obliged to e xpose these vices to for the betterment of humanity. The fundamental function of satire is to warn the public about prevailing corruption and disorder within a society. [1] Furthermore, the sub-genre of satire has become an underlying part ofRead MoreSatire As A Popular Form Of Satire1251 Words   |  6 PagesWhen one types satire in their search bar, the definition found is, â€Å"Satire is defined as the use of the use of humor, irony, exaggeration, or ridicule to expose and criticize people s stupidity or vices, particularly in the context of contemporary politics and other topical issues.† Political satire is a very popular form of satire, it’s used as a way to gain entertainment from politics, a way to voice opinions in a comedic biting style, and to further arguments in a way that others can’t. PoliticalRead More SATIRE ESSAY1116 Words   |  5 PagesSATIRE ESSAY Good evening and welcome to another edition of the BBC satire documentary series. Today we will be analyzing the battleground of satirical poetry, examining two well-known satirical poems called Life-Cycle by Bruce Dawe and Hymn Of The Scientific Farmer by Clive Sansom. But first, lets look at what a satire is and how the victorious poet annihilates the foe of a satire. According to the ancient Macquarie Dictionary, a satire is a term applied to any work of literatureRead MoreSatire Essay1434 Words   |  6 PagesSatire is a great tool used by many writers and actors since ancient times. The earliest example that we know about is a script from 2nd millennium BC in Ancient Egypt (Definition: Satire) and since then has evolved into a great part of our society. Satire is used to point out the faults of human vice in order for change and reform in either of two ways. There is a very bitter Juvenalian or a mild and light Horatian. In order to fully understand these forms of satire, method, purpose, and applicationsRead MoreSatire Essay1198 Words   |  5 Pagesthese questions? The answer is satire. Satire is a form of criticism that can be used in many ways and in many different situations. Sometimes satire is easy to spot, other times it may be incognito. Satire is commonly found in literary works, movies, cartoons, and even some news casts. The formal definition of satire is the use of humor to expose human follies. (Dictionary.com). Satire is mostly written because a certain issue bothered the author. Through satire, these issues are brought intoRead MoreSatire : The Princess Bride956 Words   |  4 Pagesissues that not related to anything funny at all. Satire, is mostly seen associated with comedies and comedians were they express their selves using irony or a lot of ridicule to show people stupidity. In my thesis essay, I want to show the reader that I have a full concept of what the essay is about while showing how satire is used in the topic I chose. In William Goldman’s novel, a comedy entitled â€Å"The Princess Bride†. There is a lot of satire that is paraphrased in the book. The book focusesRead MoreSatire In Gullivers Travels1455 Words   |  6 Pagesof these elements that writers use is called â€Å"satire.† This element is used to make fun of something that the author disapproves of in a comical but hidden way. Widely considered as one of the greatest satirists to ever live, Jonathan Swift used satire in his works to express his disgust in society and the British Monarchy during the 18th century. One of the greatest satires ever written by Swift was Gulliver’s Travels. In Gulliver’s Travels, satire is evident through Gulliver’s voyage to LilliputRead MoreThe Life And Death Of Satire2426 Words   |  10 PagesThe Life and Death of Satire The Encyclopedia Britannica describes satire as, â€Å"an artistic form [and] is one of the most heavily worked literary designations, and one of the most imprecise.† (â€Å"Satire†). This definition shows that satire has had time to grow and has been changed over time to encapsulate an entire genre of literature. One of the earliest satires was â€Å"The Frogs,† by Aristophanes the Greek playwright. â€Å"The Frogs† is a play that focuses on Dionysus, and his travels into the underworld

Content Of Pop Culture What Should Be Censored - 910 Words

xual Content in Pop Culture: What Should Be Censored? The subject of this assignment is about pop culture, sexual content, and censorship. When it comes to the subject of music I do not, or try not, to listen to music nor watch music videos that insinuates secular or sexual content. I have thought about the messages that TV and music send to its viewers and whether or not these messages are beneficial or harmful. My two favorite (secular) songs are Lauryn Hill’s â€Å"Doo-Wop (that thing)† and American Authors’ â€Å"Best Day of My Life†. I have never watched either of these song’s music videos. Lauryn Hill’s â€Å"Doo-Wop† song, through its lyrics, teaches the realistic troubles that women encounter when mate-seeking or looking for self-love. It also describes what men do to women in that process. She also tells the females how to carry themselves as respectable women. According to the song, men are who they are. While dating they te nd to only worry about themselves and will do just about anything to have sex with the other. They will lie, cheat, and may not even take care of their own children. Yet, they sport rims, and spend money at the club. For some reason women fall for this game and become victim to circumstances that are patently avoidable. I think the messages through Hill’s lyrics and music video is powerful and can be beneficial to its viewers. Hill demonstrates throughout the video of the potential dangers of falling for the lustful and no purposeful â€Å"things† menShow MoreRelatedAnalysis of Article I ´d Sell YOu Sucide: Pop Music and Moral Panic in the Age of Marilyn Manson by Robert Wright1548 Words   |  7 Pagesprocessed pop stars that the industry was spitting out. When there was an artist who was not always happy and did sing about PG rated topics, they were blamed for what was wrong with the world, especially teenagers. In his article ‘I’d Sell You Suicide: P op Music and Moral Panic in the Age of Marilyn Manson†, Robert Wright delves into and debunks claims that rock music, especially that of Marilyn Manson, is a main cause for teenage suicide. The title of this article says a lot about the content. In oneRead MoreThe Scientific And Ethical Considerations Of Art Technology2560 Words   |  11 Pagespainting and other forms of art. I will go over the sociological and ethical considerations of art technology. This paper will also discuss the various paintings that were either influential or controversial for society as well as art that has been censored. Finally I will summarize my thoughts and findings and conclude my overall opinions on the technology of paintings. Technologies in Painting Painting technology has evolved over the years from historical paintings to advancements in architecturalRead MoreCensorship of Media1064 Words   |  5 Pagesaway from moral values, and it also undermines the instruction parents give to their children. We need a healthier world with fewer restrictions, and if negative commodities are prohibiting children from recreational play parents should be the regulators in what content their children intake. Concepts of censorship have derived from the Roman practice in which two, government appointed, officials would conduct a census, supervise the manners, and the morals of the roman citizens (sourceRead MoreMusic Censorship Essay2897 Words   |  12 PagesIt is also very controversial. People don’t agree what should be censored or if anything should be censored at all. However, we believe that censorship is a good thing. Censorship allows offensive music to be altered so that it is not offensive anymore. It also prevents younger children from being exposed to harsh and inappropriate content in a society where access to music is growing. The positives of censorship outweigh the negatives by far. What is Censorship? Censorship is the suppression ofRead MoreHow Does Social Media Impact Our Lives?2102 Words   |  9 Pagesdiscuss the impact of the digital media on social behaviour and its integration with advertising and marketing systems. The notion of media has always played a big part in the way we view stories around the world and the communication between the cultures. Since the beginning of publishing, â€Å"Newspapers in general included short articles, ephemeral topics, some illustrations and service articles (classifieds). Multiple authors often wrote them, although the authors identities were often obscuredRead MoreArgumentative Essay On Pornography1871 Words   |  8 Pagesthe long history of pornography there has been an ongoing debate as to whether pornography is something that should be accepted in society or condemned as immoral. The way pornography is often viewed by individuals is either from an anti or pro-porn perspective. This essay will discuss why pornography is seen in such a black and white manner and also aims to present reasons why it should not be. It will discuss how the ‘grey’ areas around the porn industry, freedom of speech and consumerism inRead MoreViolence Video Games2243 Words   |  9 Pagesreach. Unfortunately, parents must add another pop culture challenge to their list: video games. A recent study by the American Academy of Pediatrics (AAP) shows that more than 90 percent of parents dont monitor ratings on the video games played by their kids. Many are unaware that a ratings system for video games even exists, and children probably know more about the rating system than their parents do. Worse yet, parents may not know that the content of certain games could affect the social andRead MoreHow Should People And Communities Of Faith?4209 Words   |  17 PagesHow should people and communities of faith, such as Christian churches, live in a world in which we are ‘wrapped in media’? - Focused on the Christian communities in North Korea which are isolated by Juche ideology. (수ì  â€¢Ã¬Å¡â€) Aiden Lee (1110076) Introduction When Kim Il-Sung died in 1994, his death became a headline news and it became a big issue of Korea peninsular. However, one thing that shocked millions of media viewers in the world was the reactions of North Koreans that showed towards Kim’s deathRead MoreThe Representation of Women, Men, and Sexuality in Music Videos9715 Words   |  39 Pagesvideos. Jhally’s primary argument is that music videos, not unlike other forms of advertising and popular culture, represent the pornographic imagination by offering a degraded and limited view of female sexuality based on narrowly defined adolescent heterosexual male fantasies. Locating the stories and images of music video in a wider context, the film explores how American popular culture, more generally, encourages and excuses men’s violence against women, and argues that we need a wider rangeRead MoreResearch Paper and Argument Topics4449 Words   |  18 Pagesand Convenience Culture TV and Film Sports and Entertainm ent Race and Ethnicity †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Should racial profiling be a legitimate law enforcement policy in some areas? Should Affirmative Action for state university enrollment be continued? Should the primary method of public school funding (property taxes in individual school districts) be amended to create more fairness in schools? If a university offers African-American Studies or Black Studies as courses, should it also offer European-American

Microhabitat selection by the Pacific tree frog - Hyla regilla - Sample

Question: Discuss about the Microhabitat selection by the Pacific tree frog, Hyla regilla. Answer: Note: Note: This is a model take-home exam based on Kildaw (1995) to give students an idea of what sort of approach is expected. It may contain errors of fact or interpretation, and there is no need to imitate slavishly its style or organization. Behavioural ecology is a field which includes the study of evolutionary basis of the behaviour of animals due to the ecological changes and pressures. The subject behavioural ecology stemmed from the ethology and it includes the study of the phylogeny of the behaviour of animals; survival value; ontogeny; proximate causes. If an organism exhibiting a certain trait is favoured by the environment then there is a big chance of an animal getting selective advantage within an environment (Davies, Krebs and West, 2012). This study is based on the analysis of an article which is based on a particular behaviour of an animal. This study also includes a critical overview along with an exclusive mention of the significance Overview- The choice of the substrate colour provides a mean trough which predator can be avoided through a process called crypsis. The main question was what was the actual background colour of choice of the Pacific tree frog (Hyla regilla). This shows complexity in the colour polymorphism. In order to test this in a laboratory condition, the behaviour of the background choice of the of the non-changing brown and the non-changing green are considered for the test. The test was carried out to determine the whether these frogs have any kind of preference for a typical kind of background substrate. The hypothesis was based on the fact that the non-colour changing frogs (both the green and the brown nonchanging frogs) will prefer a background which was similar to their own skin colour. Another hypothesis was that the frogs will select a background which matches their own skin colour during the presence of a predator. The predictions were based on the behaviour of the non-colour changing frogs tha t whether there was any preference of the non-colour changing frogs with respect to their own skin colour (Wente and Phillips 2005). There were other tests like whether the color changes also exhibit the characteristics of matching the background substrates according to their color of the body. Hyla regilla species were collected from the Vanderberg Air Force Base which was located in Santa Barbara County of California. The sampling was done during the winter and the springtime. The substrates chosen are the soil and the bark substrates. The background substrate and the dorsal surface spectral reflectances were quantified with the help of a spectraradiometer. The change in colour of the frogs was measured through the colour change and it involved the alternate exposure to the light and the dark substrates for over a period of 3 to 4 weeks, at this time the dorsal skin surface reflectances was measured on a regular basis. Depending on the dorsal skin spectral reflectances, one frog w as assigned to one of the three different types of morph groups (colour changer, non-changer brown, or non-changer green) (Wente and Phillips 2005). The test apparatus which was taken to be a large circular arena was divided into quadrats of equal measurements the opposite quadrates were made brown while the other two quadrates were made green. The test arena consisted of a vibration damped hood and it was light tight. In order to replicate the dusk and the dawn conditions, the frogs were tested based on the dimmed lighting conditions. The humidity and the temperature were recorded for each test and small bowls containing water were placed in each of the quadrates before the tests were carried out and the quadrates were misted before the conduct of the test. At the beginning of the test, a remotely controlled device was used to let a frog enter the arena. The frog was kept there for a night in dark and the scoring was done based on the matching of the background for every 5 minutes and this was carried out for over a period of 330 minutes. This resulted in the collection of the 66 different observations and the location of the fr og was noted in each of the tests. It was found that the frogs that did not choose a background were around 44 times out of 66. It was found that the frogs were either clinched to the sides of the arena or sitting on the release device, such frogs were not taken into account for the analysis. If s frog found to be staying in a background color which was similar to its own color for more than 50 percent of the time, then such a behavior was taken into consideration for the data collection. Although only a single test was carried out with an individual, thus the test on the other color backgrounds was not performed. Therefore, frogs exhibiting the same morph was studied and tested whether their behavior was aligned to the random expectation (fifty percent on every background) or deviated from it (Wente and Phillips 2005). Again, a small sample of the nonchanging frogs that included 10 nonchanging green frogs and 10 nonchanging brown frogs were tested for the background along with the presence of a predator. A common garter snake, called Thamnophis sitalis was selected and is known to be a predator of H. regilla (Schaub and Larsen Jr 1978). The procedure of this test was similar to the previous test procedure, however this time a solution of the fecal matter of T.sitalis was sprayed in the test area before the conduct of each test. The choice of the background was again analyzed via the binomial test. The principal findings of the tests reveal that the frogs had spent around 2/3rd of the time on one of the 2 different colored substrates. The nonchanging green frogs showed a significant inclination towards the background having the green color and 78 percent of the frogs chose this color and they spent 50- percent of their time more than any other colored substrates. The mean of the observation where the nonchanging green frogs are found to be staying on the matching substrates was 67.7 percent. Whereas, the nonchanging brown frogs did not show any preference for the background colored brown. The mean of the observation where the brown frogs spent about 50 percent of the time on the brown background was found to be 51.2 percent. The rate of the background switching by the green, brown and the other types was analyzed and it was found that the nonchanging green switched around 3.64 times during a test on an average, and the nonchanging brown frogs switched around 3.45 times during a test on an average. The nonchanging frogs showed a preference for a background which matches their skin color during the presence of a predator. In the test, it was found that 7 frogs out of the 10 nonchanging brown frogs 5 out of the 6 nonchanging green frogs chose the background which matches their skin colour (figure 1). The conclusion of the article reveals that there are three different color morphs of Hyla regilla that has the ability to change color in accordance with the background color, capable to change body color and at the same time differ in body color (Wente and Phillips 2003). Critique- The strengths of the study can be attributed to the two different sets of the hypothesis and the study results exactly reveal data which are in accordance with the hypothesis. The three different types of the frogs are found to behave properly as expected them to be. Another major strength is the presence of the predator element. Instead of harming the frogs, the usage of the fecal matter of the snake Thamnophis sitalis as a sign of the presence of the predator eliminate the chances of human harm and error in the conduct of the study. Another strength of this study is that the microhabitat selection in the laboratory setting was well executed and the test is replicable. The study also included the measurement of the visual mechanism that plays a major role in the detection of the matching of the background color by the frogs. The major weakness of the study is contributed by the small sample size considered for the study of the effect of a predator on the behavior of the frogs. The d ata collected from the predator is very small and was unable to detect any major difference. The study failed to measure any significant differences in the movement of the nonchanging green and brown frogs in the presence of a predator odor. The methodological approach considering the study is fine, however, a greater sample for measuring the presence of the predator would have been beneficial for overall applicability of the study. The conclusions although very short but has a logical flow with respect to the findings of the study and also suggests the scopes of the further study for better understanding. The writing is lucid, however highlighting the prime findings that were in accordance with the hypothesis is expected. The article also lacks the mentions of the two hypothesis upon which the whole experiment is based. The one area which needs to be improved is the sample size is very small with respect to the predator experiment and thus the article loses its applicability to a g reat extent due to this. Significance The topic of the paper is based on the cryptic behavior of the frogs and this topic can be found in the cost-benefit approach of the cryptic behavior (chapter 5). This chapter deals with the Darwinian puzzle of conspicuous behavior. According to Alcock (2005), the mimicry and the cryptic behavior are the antipredator strategies to stay away from the predator. These strategies involve the usage of the biological deceitful methods and this helps the prey to portray itself as different from the reality. The several strategies of cryptosis involve camouflage, mimicry, and hiding. Background matching is one of the strategies employed by the frogs. The paper considered here does not need any major change in the perspective. The data collected via the predator experiment might give a feel that the article selected is a poor reflection of a previous work. The major area of the study is the prey behavior with respect to the predator and this very area is not experimented by the authors. The s ample size selected is so small that it lacks a wider representation. The article can be cited with respect to the background study and the spectral measurements, however, the article does not require any change in the conclusion as stated by Alcock. New ideas- Further studies can be conducted in the fitness consequences with respect to the variation in color and the other related behavior among the Hyla regilla species; the ecological correlation, a sensory basis of the variation of color requires further study. This will help in increasing the understanding of the different interactions, several processes that help to maintain the variations phenotypically within the natural population. The question will be based upon how the frogs sense the presence of the predator and how long a frog will try to mimic the background or change its body color. The presence of the predator will force the prey to stay in the mimicked position without making any other physical movement can be stated as a hypothesis. The major assumption here can be considered as the total lack of any other external influences. The possible prediction is that frogs will try to mimic the background as long as the presence of the predator sends a signal of danger to a frog. Thus, from the study, it can be concluded that behavioral ecology is a field of study which encompasses the behavior of the animals, insects, and birds. The behaviors generally emphasized here is the presence of the predator and its impact on the prey. The prey-predator relationship is the main goal of the study and for that purpose, Hyla regilla is taken as a prey and its behavior is measured is with respect to the presence of the Thamnophis sitalis as a predator. References Alcock, J. 2005. Animal Behavior: An Evolutionary Approach. 8th edition. Sinner Associates, Inc., Suckerland, Massachusettes. 115 pp Davies, N.B., Krebs, J.R. and West, S.A., 2012. An introduction to behavioural ecology. John Wiley Sons. 1 pp. Schaub, D.L. and Larsen Jr, J.H., 1978. The reproductive ecology of the Pacific treefrog (Hyla regilla). Herpetologica, pp.409-416. Wente, W.H. and Phillips, J.B., 2003. Fixed green and brown color morphs and a novel color-changing morph of the Pacific tree frog Hyla regilla. The american naturalist, 162(4), pp.461-473. Wente, W.H. and Phillips, J.B., 2005. Microhabitat selection by the Pacific treefrog, Hyla regilla. Animal Behaviour, 70(2), pp.279-287.

Taking Away the Nation’s Pets an Example by

Taking Away the Nation’s Pets Back when the animal rights movement started, the public seemed to take two definite sides about the situation. The far greater portion of the public seemed to feel that animal rights activists were radical vegetarians firmly on the lunatic fringe. A few others assumed that the animal rights activists meant what they seemed to be saying about protecting animals from needless experimentation and from living miserable lives in abusive homes. Since that time, however, more people--including the liberal celebrities who seem to want to tell people how to live their lives--are supporting this dangerous cause. Need essay sample on "Taking Away the Nations Pets" topic? We will write a custom essay sample specifically for you Proceed Why is this cause dangerous? I consider this cause dangerous because at its core are people who want to take away other people's rights and privileges. Every person currently has the opportunity to own a pet, if he or she has the financial means and if the living conditions allow it. Animals provide many people with joy and comfort when they live alone. They assist individuals with disabilities. Show dogs bring some beauty into their owners' lives, while police and security dogs bring them a measure of safety. Even if we don't have pets of our own at home, many of us have at least one fond memory of a neighborhood pet that would follow the kids around as they played. But animal rights groups want to take all of that away from us. I have read that Ingrid Newkirk, the president of the People for the "Ethical" Treatment of Animals (PETA) actually wants to "free" pet animals from "bondage" so that people can "admire them from a respectful distance." The problem with Newkirk and her deluded followers is that they want to wipe out all pets through spaying and neutering all of them, even dogs bred for police and service dogs and even dogs bred for show and work. They are for eliminating animal products from our diets and from our clothing and they even want to prevent people from using animals for medical research or for the production of insulin. The damage that these people do is shown by the trial that took place earlier this year in which the PETA workers were prosecuted for killing animals that they had taken from a veterinary clinic so that they could "place them in homes." Even based on that alone, these maniacs should be stopped and their organization disbanded. They go beyond that, though. PETA volunteers hand out "comic books" to children that they see at fast food restaurants or to children who have moms that wear furs. These "comic books" traumatize children with drawings of crazed knife-wielding mothers who are covered with blood and are threatening cowering bunnies. They brainwash children with the story from the Disney movie Nemo, repeating the refrain that "fish are friends, not food." They do this brainwashing to bring in a new generation of workers who believe that what PETA says is true. Sadly, we're already seeing the signs of what can happen when people follow Ingrid Newkirk and her propaganda without taking the time to question it. Unfortunately, the news is even worse: PETA has laundered money for domestic terrorist organizations such as the Earth Liberation Front (ELF). I think it is incredible that PETA seems to be getting more powerful, instead of less powerful. I can't imagine how people fail to see through what they are doing. The animal rights activists are using this power to influence even the animal related laws that are being passed today. Ingrid Newkirk has vowed to see "pit bulls" exterminated--never mind that there is no such breed of dog, given that she is not talking about the American Pit Bull Terrier (APBT). Once they have manipulated people into wiping out those dogs, then I believe that they will move on to other breeds. Knowing what Newkirk said about the "pit bull," I think that it is obvious that PETA and other radical animal rights organizations such as the Doris Day Animal League and the Humane Society for the United States are behind the legislation in places like Louisville, Kentucky and the state of California. These locations have laws that call for mandatory spaying and neutering of all but certain classifications of animals, including show dogs and other registered competition dogs, service dogs, or working dogs. The California legislation would only make these exceptions until 2009, after which all dogs over the age of four months would need to be spayed or neutered. I think that it is pretty obvious what will happen after that, at least to the thinking person. After a few years, there will be no replacement dogs for pets, save for those that are taken from the shelters--many of which have animals that are imported to fill their cages with small to medium-sized dogs, since the laws we currently have are working. Since many shelters do not let dogs leave them without being spayed or neutered, then from where are future generations of pets going to come? Again, I say the answer is obvious. There is no plan built into that one for allowing pets at all. Certainly that must sound familiar, mustn't it? California is playing into the hands of the animal rights activists and their agenda, if the activists are not actually running the show themselves. I believe that it is painfully obvious that the animal rights activists have more power in certain parts of the country than they have any right to have. The California bill is detrimental not only to private citizens, but it is also detrimental to the state of California as well. Dog fanciers spend millions of dollars every year at dog shows in the state of California alone. But with no unspayed or unneutered dogs left in the state and no provisions made for dogs that come into the state for events like shows, there will be no possibility for dog shows like what we see on television, since only "intact" dogs can compete. If California successfully passes this bill, which seems likely since there are people forcing it to go through, that sets a precedent for other states to pass similar legislation. Before we know it, it will be illegal for anyone to breed a dog. I think that animal rights activists have gone too far. I think that it is painfully obvious that they have undue influence over the rights of other Americans who want to own a pet to enjoy and to love. I think that it is time that we find a way to stop them, or before we know it, it will be too late. Reference Michelle Bamberger, Robert Oswald 'The real cost of fracking : how America's shale-gas boom is threatening our families, pets, and food' Boston, Massachusetts : Beacon Press, 2014 William J Wynn 'It's the law! : pets, animals, and the law' Sun City, Ariz. : Doral Pub., 2002.

Hundred Years War - Joan of Arc and Siege of Orlans

Hundred Years' War - Joan of Arc and Siege of Orlans Siege of Orlà ©ans: Dates Conflicts: The Siege of Orlà ©ans began October 12, 1428 and ended May 8, 1429, and took place during the Hundred Years War (1337-1453). Armies Commanders English Earl of ShrewsburyEarl of SalisburyDuke of SuffolkSir John Fastolfapprox. 5,000 men French Joan of ArcJean de DunoisGilles de RaisJean de Brosseapprox. 6,400-10,400 men Siege of Orlà ©ans - Background: In 1428, the English sought to assert Henry VIs claim to the French throne through the Treaty of Troyes. Already holding much of northern France with their Burgundian allies, 6,000 English soldiers landed at Calais under the leadership of the Earl of Salisbury. These were soon met by another 4,000 men drawn from Normandy by the Duke of Bedford. Advancing south, they succeeded in capturing Chartres and several other towns by late August. Occupying Janville, they next drove on the Loire Valley and took Meung on September 8. After moving downstream to take Beaugency, Salisbury dispatched troops to capture Jargeau. Siege of Orleans - the Siege Begins: Having isolated Orlà ©ans, Salisbury consolidated his forces, now numbering around 4,000 after leaving garrisons at his conquests, south of the city on October 12. While the city was located on the north side of the river, the English were initially confronted by defensive works on the south bank. These consisted of a barbican (fortified compound) and twin-towered gatehouse known as Les Tourelles. Directing their initial efforts against these two positions, they succeeded in driving out the French on October 23. Falling back across the nineteen-arch bridge, which they damaged, the French withdrew into the city. Occupying Les Tourelles and the nearby fortified convent of Les Augustins, the English began to dig in. The next day, Salisbury was mortally wounded when surveying French positions from Les Tourelles. He was replaced by the less aggressive Earl of Suffolk. With the weather changing, Suffolk pulled back from the city, leaving Sir William Glasdale and a small force to garrison Les Tourelles, and entered winter quarters. Concerned by this inactivity, Bedford dispatched the Earl of Shrewsbury and reinforcements to Orlà ©ans. Arriving in early December, Shrewsbury took command and moved troops back to the city. Siege of Orleans - the Siege Tightens: Shifting the bulk of his forces to the north bank, Shrewsbury built a large fortress around the Church of St. Laurent west of the city. Additional forts were built on the Ile de Charlemagne in the river and around the Church of St. Prive to the south. The English commander next constructed a series of three forts extending northeast and connected by a defensive ditch. Lacking sufficient men to fully surround the city, he established two forts east of Orlà ©ans, St. Loup and St. Jean le Blanc, with the goal of blocking supplies from entering the city. As the English line was porous, this was never fully achieved. Siege of Orleans - Reinforcements for Orlà ©ans the Burgundian Withdrawal: When the siege began, Orlà ©ans possessed only a small garrison, but this was augmented by militia companies that were formed to man the citys thirty-four towers. As the English lines never fully cut off the city, reinforcements began to trickle in and Jean de Dunois assumed control of the defense. Though Shrewsburys army was augmented by the arrival of 1,500 Burgundians during the winter, the English were soon outnumbered as the garrison swelled to around 7,000. In January, the French king, Charles VII assembled a relief force downstream at Blois. Led by the Count of Clermont, this army elected to attack an English supply train on February 12, 1429 and was routed at the Battle of the Herrings. Though the English siege was not tight, the situation in the city was becoming desperate as supplies were low. French fortunes began to change in February when Orlà ©ans applied to be put under the protection of the Duke of Burgundy. This caused a rift in the Anglo-Burgundian alliance, as Bedford, who was ruling as Henrys regent, refused this arrangement. Angered by Bedfords decision, the Burgundians withdrew from the siege further weakening the thin English lines. Siege of Orleans - Joan Arrives: As the intrigues with the Burgundians came to a head, Charles first met with the young Joan of Arc (Jeanne dArc) at his court in Chinon. Believing that she was following divine guidance, she asked Charles to allow her to lead relief forces to Orlà ©ans. Meeting with Joan on March 8, he sent her to Poitiers to be examined by clerics and Parliament. With their approval, she returned to Chinon in April where Charles agreed to let her lead a supply force to Orlà ©ans. Riding with the Duke of Alencon, her force moved along the south bank and crossed over at Chà ©cy where she met with Dunois. While Dunois mounted a divisionary attack, the supplies were barged into the city. After spending the night in Chà ©cy, Joan entered the city on April 29. Over the next few days, Joan assessed the situation while Dunois departed to Blois to bring up the main French army. This force arrived on May 4 and French units moved against the fort at St. Loup. Though intended as a diversion, the attack became a larger engagement and Joan rode out to join the fighting. Shrewsbury sought to relieve his beleaguered troops, but was blocked by Dunois and St. Loup was overrun. Siege of Orleans - Orlà ©ans Relieved: The next day, Shrewsbury began consolidating his position south of the Loire around the Les Tourelles complex and St. Jean le Blanc. On May 6, Jean sortied with a large force and crossed to the Ile-Aux-Toiles. Spotting this, the garrison at St. Jean le Blanc withdrew to Les Augustins. Pursuing the English, the French launched several assaults against the convent through the afternoon before finally taking it late in the day. Dunois succeeded in preventing Shrewsbury from sending aid by conducting raids against St. Laurent. His situation weakening, the English commander withdrew all of his forces from the south bank except for the garrison at Les Tourelles. On the morning of May 7, Joan and the other French commanders, such as La Hire, Alencon, Dunois, and Ponton de Xaintrailles gathered east of Les Tourelles. Moving forward, they began assaulting the barbican around 8:00 AM. Fighting raged through the day with the French unable to penetrate the English defenses. In the course of the action, Joan was wounded in the shoulder and forced to leave the battle. With casualties mounting, Dunois debated calling off the attack, but was convinced by Joan to press on. After praying privately, Joan rejoined the fighting. The appearance of her banner advancing spurred on the French troops who finally broke into the barbican. This action coincided with a fire barge burning the drawbridge between the barbican and Les Tourelles. English resistance in the barbican began to collapse and French militia from the city crossed the bridge and assaulted Les Tourelles from the north. By nightfall, the entire complex had been taken and Joan crossed the bridge to re-enter the city. Defeated on the south bank, the English formed their men for battle the next morning and emerged from their works northwest of the city. Assuming a formation similar to Crà ©cy, they invited the French to attack. Though the French marched out, Joan counseled against an attack. Aftermath: When it became apparent that the French would not attack, Shrewsbury began an orderly withdrawal toward Meung ending the siege. A key turning point in the Hundred Years War, the Siege of Orlà ©ans brought Joan of Arc to prominence. Seeking to maintain their momentum, the French embarked on the successful Loire Campaign which saw Joans forces drive the English from the region in a series of battles which culminated at Patay.

The Importance of Writer Self-Education

The Importance of Writer Self-Education You know that joke, â€Å"The actress was so dumb she slept with the writer†? Why is that funny? Because the writer is always the lowest person on the totem pole. And there are reasons for that. It would never occur to somebody to practice law without learning the law or to put out a shingle as a plumber without ever having apprenticed, but for some reason many writers think they can just have an idea, write it, and sell it, without learning anything about how publishing works. My areas are fiction, journalism, nonfiction, and playwriting. I’ve published two novels and I edit and develop nonfiction with writers and publishers. Here’s some broad-stroke advice from these areas: = A professional text matters! It matters that a book read well, have proper punctuation, spelling, and grammar. It matters that you follow the Chicago Manual of Style (for books and magazines). Or proper film or TV format. Or AP style for newspapers and journals that require it. = Learn the lingo. For instance, â€Å"a fiction novel† is redundant; a novel is always fiction. = If you are writing nonfiction and presenting yourself as an expert, you should be an expert. That means you’ve published on the topic, you work professionally in your area or you teach the topic, you have academic credentials in the topic, you have undergone training where you were evaluated = If you can’t afford a professional edit for your book, read Chicago Manual of Style, 16th edition. Actually READ it. It will not only tell you rules and lingo, but it offers a pretty good course in publishing. = Read all the articles in Writer’s Market. Learn about how to present work, rights, and contracts. = Understand that being a writer is no longer enough. For book writing, writers are expected to have a â€Å"platform† - expertise, ties to the readers of their work, the ability to present and sell. If you resent this, let that go and concentrate on creating or discovering what your platform credits are. = Read Publisher’s Weekly, or subscribe for free to Shelf Awareness-Pro (Shelf-Awareness.com), a daily newsletter about book selling. Even if you don’t plan to self-publish or start your own publishing company, you can join Independent Book Publishers Association (ibpa-online.org) which has a wonderful magazine full of education and news as well as many other benefits and marketing opportunities. = Read Peter Rubie’s book The Elements of Narrative Nonfiction: How to Write and Sell the Novel of True Events, or read the free web chapter on book proposals: http://fineprintlit.com/resources/writing-a-book-proposal/. = If it’s a time in your life when you can afford it, try to get an entry-level job at a publisher or whatever kind of company is appropriate for your interest. You’ll learn the lay of the land from the inside out and make next to no money, but, if you’re like me, it’s a lot more fun than going to school. = If you are a working writer or editor, join the Linkedin group LinkEds writers (https://www.linkedin.com/groups/LinkEds-writers-37917/about). It’s filled with smart professionals who generously share their education. = If you’ve already written your book and know nothing about the publishing industry or editing, I recommend getting help. Ask around, listen to people you trust who work in the industry. And if you need a professional edit or coaching, search ( Educate yourself about the industry you want to work in. It’s fun!

Organizational Culture in Different Countries and Regions Term Paper

Organizational Culture in Different Countries and Regions - Term Paper Example Taken negatively, this culture can be used as a shield and process that people withdraw to when they intend to sideline their common sense. It is a form of groupthink or herd mentality that could be used to shrug responsibility (Savio, 2007). But when properly understood, the barriers of cultural differences can come down and the authenticity of the people emerges transcending the old collective and herd thinking enabling one to find homogeneity and common ground to do business. But understanding the eccentricity or idiosyncrasy of a particular culture can be a challenge and may even take some time to be understood and perhaps after committing some blunders and faux pas that could cost the business itself. Seemingly innocuous behaviors, when not properly understood can be costly to the one doing the business who is unaware of the national culture that is being reflected in the bigger organization. To illustrate, a businessperson attending a dinner by a Chinese host may be aware that he has to be gracious being familiar of guanxi(Hwang, 2009). But knowing the host or Chinese counterpart is not enough (Bedford, 2011). Little things such as not following the nuances of dining protocols may even inadvertently offend the business counterpart. In the example cited, the guest, in his effort to be gracious to his host, ate every food that was served to him (there are 12 courses in a Chinese meal) even if he was full with the hope of getting the impression that he i s an appreciative guest. Only to be confounded that the host’s warmth disappeared and turned cold as the evening ended. It took some time for the guest to realize that in Chinese context, cleaning up your plate meant that the host did not feed you enough and that is quite offensive in doing business in Chinese context (Balderrama, 2010). Another example is the customary bringing of whisky to a Japanese counterpart which can be considered as a thoughtful gift but is offensive to Dubai nationals (Tulshyan, 2010). To better understand particular cultures and how they reflect and differ in the larger culture of an organization in different countries, Hoftstede formulated a cultural assessment tool whereby dimensions of one’s cultural strength can be assessed by assigning a scale ranging from 0 to 100 (Hoftstede, n.d.) . This tool of Hofstede is a popular tool among managers who would like to understand another culture apart from their own. The five cultural dimensions of P ower Distance, Individualism, Masculinity, Uncertainty Avoidance, and Long-Term Orientation; Hofstede’s five dimensions of culture in details are (MCCULLIGH, 2010); Small vs. large power distance – This refers to how a society handles inequalities and the extent to which the less powerful members of organizations and institutions (like family) accept and expect that power is distributed unequally. Individualism vs. collectivism  Ã¢â‚¬â€œ Behavior towards community. The degree to which individuals are integrated into groups or are expected to look after themselves and self-actualize. Masculinity vs. femininity)

The National Health Service and How it Provides Service to the Public Literature review

The National Health Service and How it Provides Service to the Public - Literature review Example This paper analyses the performance of the National Health Service and makes recommendations on how it can improve on service delivery. It reviews literature on the quality of service offered by the National Health Service and proposes new ways of service delivery. With regards to this, the paper will define performance management, how it is measured and then proceeds to the current health status of Britons before delving into the challenges being faced and how best to fix them. Introduction The British National Health Service before the internal market reforms of the 1990s was a snarl-up of vicious incentives which made it very inefficient. Increased efficiency was achieved through the introduction of market incentives which in turn stimulated innovation in primary practice care. The improvement in service delivery followed because the medical practitioners had devised better ways of delivering quality service to the patients (Enthoven, 2000). This paper will review literature on al l the attempts made by the government to ensure that the citizens get quality healthcare and enumerate the reasons why some of them flopped as others succeeded. The current performance level of the British National Health Service will also be carefully analysed. ... This restricted the free flow of performance of the system because the government retained most of the control powers. The other reason for the dismal performance was because the experiment itself was based on an inadequate comprehension of both professional and managerial motivations. The importance of decentralisation in large corporations in terms international development cannot be overemphasised at this level. This is not limited to the private sector as the public sector has equally benefitted from this. The self governing trusts were introduced in the British National Health Service in the 1990s to serve as a paradigm case for the decentralisation of the public sector (Arrowsmith & Sisson, 2002). The progressive introduction of activity based funding in the National Health Service has been done progressively since the year 2003 under the name payment by results. This is representative of a major shift from the previous funding arrangements that were based on annual block payme nts for large bundles of services to what is being practiced at the moment (Sussex, & Farrar, 2009). The results from an interview done by Sussex and Farra (2009) indicated that there is a high degree of solidarity among the employees of National Health Service and the competition among the NHS hospitals was greatly curtailed. The problem however is that the payment by results initiative was introduced against a background of many other efficiency incentives. The managers did not detect any further specific boost effect of the initiative which was a major cause of concern for the policy makers. The fact that no impact on care quality was reported raises concerns on the appropriateness of the initiative itself. Perverse Bureaucratic

Crucible Analyzing John Proctor Essay Example for Free

Crucible Analyzing John Proctor Essay Analyzing John Proctor as a Tragic Hero In the Crucible, a play by Arthur Miller, John Proctor is the tragic hero. A tragic hero is defined as someone who has great courage that ends up dying at the end of the story. The reason John Proctor is the tragic hero of this play is because he has so much to lose. John Proctor fulfills my requirements of a tragic hero throughout the play. He decides to go to court and expose the girls. The girls turn on him and he gets accused. He is only trying to do well, but gets falsely accused. John Proctor is also a very intelligent man who can detect others as being fraudulent, however he questions his own moral. He questions himself because of his affair with Abigail which was his only flaw throughout the play. In spite of this I still consider him an honorable man. Another thing he did was save his wife from being put to death, and also refusing to confess practicing witchcraft. He proves he is a tragic hero when he explains to the judge that since he gave his soul to leave his name. With this plea, Proctor has eliminated all hopes of living and has established himself as the tragic hero. John Proctor is a man of sufficient stature in that he is given the choice to save himself at the end of the play, but does not. He does keep his affair secretive, but that is only thing that made him seem like the villain. He did not deserve to die at the end of the play, but that is one of the requirements to make him considered a tragic hero. Proctor serves as the voice of justice in the play. He came out and told everyone about Abigail falsely accusing others of being witches. He also came out and ripped the warrant and told the men to leave. In the end, he comes close to confessing being a witch but realizes it disgraces his good name, which is all his children will know him by. The issues leading to John Proctors death are not universal. I believe that he should not have been the one getting the punishment in the end, but that is why he is the tragic hero. Throughout the play he was a man of integrity and nobleness. He confessed to practicing witchcraft, in which he really  didnt. This is why he died; saving his wife from death.

China and Japan research :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  In China and Japan, there are numerous similarities and differences in their religions. People have their choices of following a certain religion. China is a country with great diversity as well as Japan. Religion is a big deal to many Asians. Chinas religions major religions and beliefs are Taoism, Confucianism, Buddhism, Islam, Christianity, Dongba and Protestant. China has about 5.5 million Protestants and 3.5 million Catholics. Confucianism is one of the major philosophies that concerns human society, social relations, and individual conduct. It is more of a social and ethical philosophy than a religion. Confucianism was adopted as a state religion which was to reorder society. The concept of family is central to Confucianism, generating a high standard for family interaction through mutual respect, love and consideration for the needs of others. Buddhism originated in India. This is another one of the major world religions. People sit and meditate for many hours then enlightenment comes to the man and becomes the Buddha. The main concept is liberation of the soul to achieve enlightenment. Life is made of suffering because people are tortured by desire. People overcome desire and enter nirvana, a state of complete freedom. Taoism is truly a Chinese religion which is more individual and mystic and greatly influenced by nature. This is the driving force and all order behind life. It is the power of nature and way of the universe. Taoism is the way to follow to organize life in harmony with nature and the universe. It inspired a love of nature and an intense affirmation for life- physical health, vitality, longevity, and even immorality. Taoism covers a wide variety of gods, magic ceremonies, powers and sorcery. All the religions are practiced today along with Chinas communist ideology. Confucius had government aspirations. He took to streets offering solicited advice about how to structure government and administration bodies. The religion became accepted as a state ideology and orthodoxy. The emperor considered the embodiment of Confucian wisdom and virtue. A strong hierarchy became the canon of political rule. Buddhism spilt into several major schools. Many of Japans religions are the same as Chinas such as Buddhism, Confucianism, and Taoism. Many of the beliefs are the same. Religions do not play a big role in the everyday lives of most Japanese people nowadays. The average Japanese just follows the religious rituals at a few ceremonies such as births. Japan's two most important religions are. The two religions co-existed for several centuries and even complemented each other to a certain degree. The feeling of duty to belong to just a single religion as it is widespread among followers of the three large occidental

Financial statement analysis

Most notable products from Apple include the Phone, Pod, Pad, ND Imax personal computers. Apple is also involved in computer and web based application developments, which support their essential products such as Tunes, Safari, and Cloud. Through its innovative, streamlined, user-friendly designs, Apple has achieved a meteoric rise to industry domination since 2002. This growth, however, has recently come to a relative standstill following its peak in 2012 and has investors speculating if this marks the end of Apple's bullish behavior, or just a minor setback because of the company's change of management.Apple Inc. Saw a 9% total increase in revenue this sat year from SSL 56,508 million in 2012 to $170,910 million in 201 3(Apple Inc. , 2013). This growth is in part due to the release of the Phone â€Å"As† and â€Å"c† models, the introduction of the Pad â€Å"Mini† retina display as well as the company's normal day to day sales. This 9% growth may be some cause f or concern though, as prior years increase in revenue saw a 45% average growth from year to year (44% in 2012 and 65% in 2011).Apple's annual release of new products typically yields a 30% overall growth in revenue, which potentially indicates there is stagnation of growth overall in the current racket. This stagnation may be attributed either to heavy saturation of products within the current market, leaving little opportunity for expansive growth, or that consumers are unimpressed with the current product line. Apples peer firm Microsoft (MOST) has seen a modest 5% increase in total revenue from $73,723 million to $77,849 million from 2012 to 213 respectively (Microsoft Corporation, 2013).This increase is consistent with prior 3 years which have each yielded a 4-5% increase in revenue. Compared to Apple, Microsoft has a relatively stable growth and be attributed to the elatedly consistent flow of products from year to year. The â€Å"earnings per share† ratio (PEPS) reflect s the decline in overall profitability as well, with a 10% decline in Apple's PEPS from $44. 43 to $40. 29 in 2012 and 2013 respectively (Apple Inc. , 2013).This can be attributed to two factors: a decrease in net profit margin and a paralleled decrease in gross profit margin. There was an 11% decrease in net profits because of an increase in overall inventory. Increasing inventory will also increase a company s operating expenses as they accommodate new production. Companies typically raise their inventory evils as they release new products in anticipation for projected consumer demand for these products.As is the case with Apple, this will have a negative impact on a company's net profit when there is less than anticipated demand for their new product. The depreciation of older inventories can also be responsible for an overall decrease in profitability. Microsoft has conversely seen an increase in PEPS from $2. 03 per shard to $ 2. 63 per share as a result of an increasing profit margin ratio from 23% to 28% in 201 3(Microsoft Corporation, 2013). Overall this increase can be attributed to an increase in ales over the period as new technologies are release.Overall PEPS increase as a result of Microsoft's lower CEQ duty/investment into their company where as Apple has put much more equity into the release of their new releases in 2013. The increase in cost of sales is reflected in the decline of the gross profit margin ratio which is an additional indicator for a comprehensive decrease in profitability. Apple's total gross profit fell from $44. 00 to $38. 00, in 2012 to 201 3 respectively, which is below the $42. 00 industry average as their cost of sales experienced a 22% increase from 587,846 million to 1 06,606 million dollars.The decrease in gross profit is explained by a number of factors according to Apple: â€Å"introduction of new versions of existing products with higher cost structures and flat or reduced pricing; a shift in sales mix to products w ith lower margins; introduction of pad mini with a gross margin significantly below the Company's average product margins; higher expenses associated with changes to certain Of the Company's service policies and other warranty costs; price reductions on certain products, including pad 2 and phoned; and an unfavorable impact room foreign exchange fluctuations. (Apple Inc. , 2013). An intangible effect that could positively impact Apple's gross profit in the long run is an increase in the number of product consumers as well as a potential increase in consumer loyalty. When compared to Microsoft smaller 2% decrease of gross profit margin from 76% to 74% in 2013. Microsoft decision to decrease sales price of windows 8 and decrease margins for the Oxbow One is responsible for the decrease in gross profit margin much like Apple. Tooth Apple inch's and Microsoft's overall decrease of gross profit margin can be said o increase consumer satisfaction because more advanced technologies are sol d at a lower margin thus giving a customer more value to their purchase. By lowering the price on certain high value items, such as the phone 4 and the pad 2 mentioned in Apple's statement, Apple has made these products more accessible to potential customers with lower incomes or frugal spending habits.Furthermore, if there is an increase in Apple product consumers as a result of the change in price, there will likely be an increase in customer loyalty and satisfaction with these products. The PEPS decline and he increase in cost of sales can further be explored through an analysis of the company's balance sheet. There was a significant increase in Apple's inventory from $791 million to SSL . 76 billion from 2012 to 2013 respectively. This 123% increase in inventory demonstrates a wholesale investment in anticipated consumer demand and loyalty.Apple typically announces product releases long before the actual release date in order to build market â€Å"hype† and also sets rele ase dates to coincide with times of historically greater spending in the market, such as the Christmas holiday season. This â€Å"hyping† recess, however, can go both ways in terms of sales by either positively building up consumer anticipation or by allowing time for consumers to second guess the product before it is released. There is also an inherent risk in inventory expansion based on projected sales; consumers may just not be in the market for new products.An indication that this may be the case is found by looking at the inventory turnover ratio which experienced a decrease from 11 1 times per quarter to significantly lower 83 times per quarter. Microsoft, like Apple, has seen a significant decrease of inventory turnover of 14% from 15. 2 times to 13. 13 times per quarter. This decrease in overall turnover much like, Apple is due to customer anticipation of newer release. However, these changes were significantly different for Microsoft as their offerings have less vol atility, especially in sales of operating systems, and usually see less adoption by consumers in starting stages.Apple acid test ratio, involving current assets over current liabilities, stands at 1. 64 in 2013 which is an increase of approximately 8 points from 2012. This is much higher than the industrial average of 1. 0, indicating Apple is a relatively safe investment and has enough in current assets to cover its debt Obligations. This sets Apple as one of the safer blue chip stocks that can provide consistent wealth for their share holders. Microsoft has experienced a increase acid test ratio from 2012 to 201 3 from 2. 57 to 2. 66 respectively this is significantly higher than Apple Inc. ND can be said to be a safer investment. Microsoft overall keeps their balance of ratios to asset very consistent and insures that they can meet their bottom line as well as provide security for their investors, more so than Apple In the third quarter of 201 3 Apple accrued total of 1 6,960 mil lion dollars in debt. The long term debt was used to offset the repurchase of stock of $22. 9 billion as well as dividend equivalent rights of $10. 6 million dollars. This accrued debt helps Apple Inc avoid taxes of upwards of $9. 2 billion dollars (Burrows, 2013) meanwhile Apple will only incur a $308 million interest a year.Had they used their offshore cash Apple would have had to pay a 35% tax and will save another $1 00 million as these interest payments are tax deductible (Burrows, 2013). Apple's move to take on this debt to finance $55 billion dollars in stock repurchase is an effort to increase overall earnings per share as well as increase total value to the consumer meanwhile adding to overall company value. The statement of cash flows revealed that In 201 2 Apple board of directors authorized a $10 billion stock which was later raised to a total of $60 billion in 2013.Apple repurchased/retired a total of $22,860 million dollars worth of stock in 201 3 as opposed to issuanc e of 665 million in 2012. Apple stated that this repurchase was a move to increase end value to shareholders. Shareholders that are offered buy back will in turn gain profit and will decrease the overall outstanding shares. By decreasing the total shares the company's earnings per share ratio will consequently increase, and given the current plan should increase PEPS by around $4 over the following fiscal year (Hughes, 2013) and adding to the company's overall worth.The overall decrease in outstanding shares also decreases the total amount of dividends paid to investors thus cutting expense and adding to company revenues. Apple began issuing dividends toward the end of 2012 and has since seen a significant raise in dividends issued to its stockholder. Apple has since issued $10,564 million of vividness to shareholders representing a 324% increase dividends paid for 2013 from the $2,488 of dividends paid in 2012. Quarterly dividends were raised by 15% from SO. 65 per share to $3. 05 per share in 2013.The price to earnings ratio also increased from 9% to 13 % as well as the increase in payout ratio from . 29 to. 06 reflects this change value to stockholders as a consequence of stock retirement and increased dividend payout.. A very lucrative opportunity presents itself for current stockholders as the prospective raise of PEPS due to buy back will ultimately add incredible attention value due to increased dividend yield. Microsoft's plan to buy back a total $40 billion plan began in 2008, they began this buy back to increase overall PEPS and PIE as well as increase the companies payout ratio.Buyback has thus far increase PEPS however subsequent drops in PIE ratio from 12. 36 to 10. 24 and stagnant dividend yield make investment into Microsoft a riskier endeavor than Apple as the decrease in P/E does not bode well for buyer confidence. Though the higher dividend yield is still attractive to investors and is higher than that of Apple Inc. Apples market share in sma rt phones should e of particular concern to interested investors as of recent events. Market share, especially for key products, gauges the company's current position amongst its competition and overall pull within the market.It can effectively gauge if the company is meeting the needs of its consumers and prospective growth. Within the past year the Phone only gained around a 13% overall growth in sales, however this is miniscule compared to overall Smartened market growth of 44% in 2013. Apples market share shows further struggles as overall mobile market share decrease by a full 4% from 19% market share n 2012 to a 15% in 2013. (Gardner, 2013) However, other companies like Microsoft and Samsung saw significant increases in SO use and hardware use with Samsung clearing 31% total market share from its 30% in 2012.This may be worrisome as Apple may not providing what customers want and can account for a decrease in overall prospective growth. However, this may be remedied by Apples breakthrough to markets china and Japan late in 2013. The departure of Steve Jobs and the arrival of Tim cook in august of 2011 has been a cause for a weaker overall product line. The recent introduction of ewe products have spawned a lackluster response by consumers especially in the release of the Phone 5 variants (as and c) as well as the improved retina display pad mini.These products neglected to offer anything new or revolutionary to set Apple apart, they were just mere improvements to tested product. The lack of ingenuity has potential to cause a decline Apples growth in sales and may cede market share competitors who have more to offer to the consumer. Microsoft on the other hand has remained consistent in its product offerings throughout the years. This is expected of Microsoft as hey re key product involves enterprise systems that provide basic needs for businesses. Financial Statement Analysis (2004-2008) Course Title: Managing Financial Resources Course: MSc. Finance Date: 11th January 2010. TABLE OF CONTENT Executive Summary This report shows the analysis of the financial performance of Centrica Plc, one of the top energy business providers in UK. Based on my analysis from this report I can conclusively state that: Centrica Plc has an upper hand in the energy and gas market than it s competitor; Scottish Power. Centrica Plc’s turnover was very high in 2008 which shows that it made better sales than its competitor. Although Centrica’s sales turnover was high in 2008 but the profit margin dropped drastically. In the overall financial performance Centrica Plc made a loss of ? 645million in 2008 compared to the previous year 2007 when the company had a retained profit of ? 1088million. This was considered to be an impact of the global financial crises that hit the UK and US economy causing increase in oil prices and a drastic fall again as the level of global oil demand rises and at the same time causing a tight supply position. Centrica Plc’s Total shareholders return has an upper hand when compared with other 99 members of the FTSE 100 in 2008. INTRODUCTION evaluate the impact of financial accounting concepts on corporate reporting of Centrica Plc. evaluate the limitations of ratio analysis discuss the role of management accounting in the evaluation of Centrica’s business performance. I have been motivated to choose Centrica Plc because of the type of product they deal in, which is energy. It is a product that is essential for all, not just households. And it will be good to know if this company is actually doing well in terms of profitability and customer’s satisfaction. LITERATURE REVIEW *PROFITABILITY RATIO ANALYSIS *OF CENTRICA PLC AND SCOTTISH POWER (Reference: FAME (Financial Analysis Made Easy) FINANCIAL RATIO ANALYSIS OF CENTRICA PLC AND SCOTTISH POWER (Reference: FAME (Financial Analysis Made Easy) GRAHPICAL PRESENTATIONS OF RATIOS {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} ANALYSIS AND DISCUSSION FINANCIAL PERFORMANCE ANALYSIS BASED ON THE GRAHPS According to Barry Elliot and Jamie Elliot, ratios show different items in the financial statements. A ratio is not useful in isolation and its usefulness depends on what aspects of the firm’s business affairs are being investigated. Ratios, according to them are a powerful tool in interpreting and understanding a company’s account. Therefore, the graphs above show the performance of the Centrica plc and its competitor; Scottish Power over a period of 5years and will be analyzed below. DEBTORS TURNOVER: This ratio shows how long it takes debtors of a company to pay back credit purchases. In as mush as credit facilities enhances sale turnover in a competitive market, it is very important to take adequate control of it because it is an essential part of working capital management. (Buz/ed, 2009) It is calculated as: Debtors' Turnover*= Average Debtors * ? 365days Centrica Plc has been able to achieve a positive stock turnover ratio over the years with a 55% less time between 2004 and 2008 compared to its competitor that has a longer time of 18% to sell off its products. This shows that Centrica Plc has more sales turnover than Scottish Power. The trend on the graph show that Centrica Plc has been more liquid than Scottish power because the higher the ratio, the more liquid the business is said to be. It is obvious from the graph that Centrica Plc is more liquid than Scottish Power. That is Centrica Plc has a better capacity to pay it short term debt than Scottish Power, with reference to their current ratio of 1. 12 to 0. 59 respectively in 2008. DISCUSSION IMPACT OF FINANCIAL ACCOUNTING CONCEPT UPON CORPORATE REPORTING OF CENTRICA PLC Going Concern: The Board of directors of Centrica Plc continues to adopt the going concern basis in preparing the financial statement because they have a reasonable expectation that the company has adequate resources needed to continue operational existence for the foreseeable future Business Entity: Centrica Plc operates as a separate business entity from its investors. Cost: Centrica Plc reports the market value of its assets. Sincerity: The financial Statement of Centrica Plc is prepared and audited by auditors from the Pricewaterhouse coopers Monetary Unit: The financial statement of Centrica Plc shows a single monetary unit dominated in GBP (? ) because the parent company is in the UK. Dual concept: Centrica presents it total assets as liabilities (debt finance) plus equity (shares). Accrual: The revenue or income of Centrica Plc are recorded when they are actually earned. (Asmii V. 2009) ROLES OF MANAGEMENT ACCOUNTING ON THE BUSI*NESS PERFORMANCE OF CENTRICA PLC According to Institute of Management Accountants, Management accounting can be defined as â€Å"the internal business building role of accounting and finance professionals who work inside the organizations† They are concerned about the growth of the business in terms of evaluating the business prospects, budgeting and forecasting, implementing and monitoring internal controls for the purpose of achieving economic value. The Board of Directors of Centrica Plc believes that there must be high standards of corporate governance which are relevant to the overall integrity and performance of the business. The Company adopted a new set of Articles of Association which states the power of the Board of directors at the 2008 Annual General Meeting and stated below are few of the responsibilities of the Directors with respect to the managerial accounting of the company. the Group’s corporate governance and system of internal control development of strategy and major policies nterim dividend payments and recommendation of final dividends the appointment and removal of Directors and the Company Secretary the Group’s corporate responsibility arrangements including health, safety and environmental matters reviewing management performance approval of the annual operating plan, the financial statements and major acquisitions and disposals The Board gives thorough monitoring to the development of the co mpany’s strategies and also during the year 2008, the Board had a full review of the company’s overall strategy with the assistance of an independent external consultant. The Board also place value on their investors and promote communication program in order to hear their views of their shareholders as regards the key matters affecting the company. The Chief Executive and Group Finance Director held regular meetings with the Company’s major shareholders during the year and the Company’s Rights Issue which was the main topic of discussion was successfully completed during December 2008 after which an approval was given at the Company’s General Meeting held on 21 November 2008. The company’s Executive Committees also established a control infrastructure to ensure proper monitoring and management where major risks have been identified. *THE NON-FINANCIAL PERFORMANCE* OF CENTRICA PLC The fluctuation in demand and prices of oil worldwide as well as the global financial crises in 2008 made Centrica Plc face series of challenges and the Chairman of the company (Roger Carr) tagged the year â€Å"a difficult year†. But despite the difficulty, the company still performed well because it is a company that aims at delivering stability and growth for the benefit of their customers, employees and shareholders. Centrica Plc’s non-financial performance can be outlined in terms of the following: *BUSINESS PERFORMANCE OF CENTRICA* PLC LIMITATIONS OF RATIO ANALYSIS Ratios are useful methods of analyzing the performance and financial position of a business but they have their flaws which are seen as limitations and will be analyzed below. THE IMPACT OF THE CHANGE FROM UK GAAP TO IFRS ON THE CORPORATE REPORTING OF CENTRICA PLC that IFRS has improved the company’s 2004 operating profit and statutory Earnings Per Share (EPS) reduction in shareholder’s fund as a result of pensions deficit Adjustment the company’s policy to link dividend to earnings thereby increasing pay out ratios. Some assets and liabilities will be treated differently which will affect timing of profit. CONCLUSION With reference to the ratios analyzed above, Centrica Plc has an upper hand in the energy and gas market than it s competitor; Scottish Power. Centrica Plc’s turnover was very high in 2008 which shows that they made better sales than its competitor. Although Centrica’s sales turnover was high was high in 2008 but the profit margin dropped drastically. In the overall financial performance Centrica Plc made a loss of ? 645million in 2008 compared to the previous year 2007 when the company had a retained profit of ? 088million. This was considered to be an impact of the global financial crises that hit the UK and US economy causing increase in oil prices and a drastic fall again as the level of global oil demand rises and at the same time causing a tight supply position. Finally, we can say that from the record of 2007, the financial performance in 2008 was good despite the economic instability. Centrica Plc made strong progress against the strategic priorities set out at the end of year 2006. The global financial crises which remain very challenging in the UK till date could pose as a problem for many of the company’s customers. But Centrica Plc promises to continue to place their customers’ needs at the forefront of their agenda, alongside the determination to deliver increasing long-term value for our shareholders FUTURE OF CENTRICA PLC According to the Chief Executive’s Review, some priorities have been set for the future growth of Centrica which would help measure performance in year 2009. Some of which are: To build on the company’s growth platform: Increasing the value of their customer base by expanding the overlap between the energy and services business. Also establishing a centralized service platform and the acquisition and construction of gas and power assets which will enable the company to compete efficiently in the energy market. To reduce risk through integration: There will be more focus on UK in the coming year 2009, due to the high demand. Therefore more production has to be made by integrating/building closer relationship with the National Oil Companies. To transform British Gas: In order for Centrica Plc to succeed, British Gas Residential which seems to be the core backbone of Centrica’s business has to deliver high level of profitability. Therefore, there will have to be an integration of the British Gas Residential, British Gas Business and British Gas Services into a single customer-focused organization. Amidst all these future plans briefly mentioned above, I can now conclusively say that the future performance of Centrica Plc is not 100% certain of profitability as they are not exempted in the effect of the global financial crises which is still hitting the UK economy. Although demand for product might rise causing increase turnover but consumers might not be able to meet up with financial obligations of paying cash. So, Centrica must be prepared for more credit sales which might decrease its debtor turnover. Also, prices of product must be put into consideration despite the goal of maximizing profit not forgetting its competitors. And finally, the leadership of Centrica Plc will be playing major role in delivering stability and growth for the benefit of customers, employees and shareholders. REFERENCES Asmii Vernekar, 2009. Available at: http://www. buzzle. com/articles/basic-accounting –concepts-and –principles. html. Assessed on 15th December, 2009 Buz/ed, 2009. Available at: http://www. bized. co. uk/compfact/ratios/sdc5. htm Assessed on 13th December, 2009. Centrica Plc, 2005. International Financial Reporting Standards. Available at: http://www. centrica. co. uk/files/results/2004_ifrs_transcript. pdf. Assessed on 15th December, 2009 FAME (Financial Analysis Made Easy), 2009. Available at: http://www. fame. bvdep. com/version-20091130. Assessed on 11th December, 2009 Peter Atrill, and Eddie McLaney (2008), Accounting and Finance for Non-Specialists, 6th ed. Prentice Hall, financial times. David Alexander and Christopher Nobes. (2007), Financial Accounting, An International Introduction, 3rd ed. Prentice Hall, financial times. Financial statement analysis Most notable products from Apple include the Phone, Pod, Pad, ND Imax personal computers. Apple is also involved in computer and web based application developments, which support their essential products such as Tunes, Safari, and Cloud. Through its innovative, streamlined, user-friendly designs, Apple has achieved a meteoric rise to industry domination since 2002. This growth, however, has recently come to a relative standstill following its peak in 2012 and has investors speculating if this marks the end of Apple's bullish behavior, or just a minor setback because of the company's change of management.Apple Inc. Saw a 9% total increase in revenue this sat year from SSL 56,508 million in 2012 to $170,910 million in 201 3(Apple Inc. , 2013). This growth is in part due to the release of the Phone â€Å"As† and â€Å"c† models, the introduction of the Pad â€Å"Mini† retina display as well as the company's normal day to day sales. This 9% growth may be some cause f or concern though, as prior years increase in revenue saw a 45% average growth from year to year (44% in 2012 and 65% in 2011).Apple's annual release of new products typically yields a 30% overall growth in revenue, which potentially indicates there is stagnation of growth overall in the current racket. This stagnation may be attributed either to heavy saturation of products within the current market, leaving little opportunity for expansive growth, or that consumers are unimpressed with the current product line. Apples peer firm Microsoft (MOST) has seen a modest 5% increase in total revenue from $73,723 million to $77,849 million from 2012 to 213 respectively (Microsoft Corporation, 2013).This increase is consistent with prior 3 years which have each yielded a 4-5% increase in revenue. Compared to Apple, Microsoft has a relatively stable growth and be attributed to the elatedly consistent flow of products from year to year. The â€Å"earnings per share† ratio (PEPS) reflect s the decline in overall profitability as well, with a 10% decline in Apple's PEPS from $44. 43 to $40. 29 in 2012 and 2013 respectively (Apple Inc. , 2013).This can be attributed to two factors: a decrease in net profit margin and a paralleled decrease in gross profit margin. There was an 11% decrease in net profits because of an increase in overall inventory. Increasing inventory will also increase a company s operating expenses as they accommodate new production. Companies typically raise their inventory evils as they release new products in anticipation for projected consumer demand for these products.As is the case with Apple, this will have a negative impact on a company's net profit when there is less than anticipated demand for their new product. The depreciation of older inventories can also be responsible for an overall decrease in profitability. Microsoft has conversely seen an increase in PEPS from $2. 03 per shard to $ 2. 63 per share as a result of an increasing profit margin ratio from 23% to 28% in 201 3(Microsoft Corporation, 2013). Overall this increase can be attributed to an increase in ales over the period as new technologies are release.Overall PEPS increase as a result of Microsoft's lower CEQ duty/investment into their company where as Apple has put much more equity into the release of their new releases in 2013. The increase in cost of sales is reflected in the decline of the gross profit margin ratio which is an additional indicator for a comprehensive decrease in profitability. Apple's total gross profit fell from $44. 00 to $38. 00, in 2012 to 201 3 respectively, which is below the $42. 00 industry average as their cost of sales experienced a 22% increase from 587,846 million to 1 06,606 million dollars.The decrease in gross profit is explained by a number of factors according to Apple: â€Å"introduction of new versions of existing products with higher cost structures and flat or reduced pricing; a shift in sales mix to products w ith lower margins; introduction of pad mini with a gross margin significantly below the Company's average product margins; higher expenses associated with changes to certain Of the Company's service policies and other warranty costs; price reductions on certain products, including pad 2 and phoned; and an unfavorable impact room foreign exchange fluctuations. (Apple Inc. , 2013). An intangible effect that could positively impact Apple's gross profit in the long run is an increase in the number of product consumers as well as a potential increase in consumer loyalty. When compared to Microsoft smaller 2% decrease of gross profit margin from 76% to 74% in 2013. Microsoft decision to decrease sales price of windows 8 and decrease margins for the Oxbow One is responsible for the decrease in gross profit margin much like Apple. Tooth Apple inch's and Microsoft's overall decrease of gross profit margin can be said o increase consumer satisfaction because more advanced technologies are sol d at a lower margin thus giving a customer more value to their purchase. By lowering the price on certain high value items, such as the phone 4 and the pad 2 mentioned in Apple's statement, Apple has made these products more accessible to potential customers with lower incomes or frugal spending habits.Furthermore, if there is an increase in Apple product consumers as a result of the change in price, there will likely be an increase in customer loyalty and satisfaction with these products. The PEPS decline and he increase in cost of sales can further be explored through an analysis of the company's balance sheet. There was a significant increase in Apple's inventory from $791 million to SSL . 76 billion from 2012 to 2013 respectively. This 123% increase in inventory demonstrates a wholesale investment in anticipated consumer demand and loyalty.Apple typically announces product releases long before the actual release date in order to build market â€Å"hype† and also sets rele ase dates to coincide with times of historically greater spending in the market, such as the Christmas holiday season. This â€Å"hyping† recess, however, can go both ways in terms of sales by either positively building up consumer anticipation or by allowing time for consumers to second guess the product before it is released. There is also an inherent risk in inventory expansion based on projected sales; consumers may just not be in the market for new products.An indication that this may be the case is found by looking at the inventory turnover ratio which experienced a decrease from 11 1 times per quarter to significantly lower 83 times per quarter. Microsoft, like Apple, has seen a significant decrease of inventory turnover of 14% from 15. 2 times to 13. 13 times per quarter. This decrease in overall turnover much like, Apple is due to customer anticipation of newer release. However, these changes were significantly different for Microsoft as their offerings have less vol atility, especially in sales of operating systems, and usually see less adoption by consumers in starting stages.Apple acid test ratio, involving current assets over current liabilities, stands at 1. 64 in 2013 which is an increase of approximately 8 points from 2012. This is much higher than the industrial average of 1. 0, indicating Apple is a relatively safe investment and has enough in current assets to cover its debt Obligations. This sets Apple as one of the safer blue chip stocks that can provide consistent wealth for their share holders. Microsoft has experienced a increase acid test ratio from 2012 to 201 3 from 2. 57 to 2. 66 respectively this is significantly higher than Apple Inc. ND can be said to be a safer investment. Microsoft overall keeps their balance of ratios to asset very consistent and insures that they can meet their bottom line as well as provide security for their investors, more so than Apple In the third quarter of 201 3 Apple accrued total of 1 6,960 mil lion dollars in debt. The long term debt was used to offset the repurchase of stock of $22. 9 billion as well as dividend equivalent rights of $10. 6 million dollars. This accrued debt helps Apple Inc avoid taxes of upwards of $9. 2 billion dollars (Burrows, 2013) meanwhile Apple will only incur a $308 million interest a year.Had they used their offshore cash Apple would have had to pay a 35% tax and will save another $1 00 million as these interest payments are tax deductible (Burrows, 2013). Apple's move to take on this debt to finance $55 billion dollars in stock repurchase is an effort to increase overall earnings per share as well as increase total value to the consumer meanwhile adding to overall company value. The statement of cash flows revealed that In 201 2 Apple board of directors authorized a $10 billion stock which was later raised to a total of $60 billion in 2013.Apple repurchased/retired a total of $22,860 million dollars worth of stock in 201 3 as opposed to issuanc e of 665 million in 2012. Apple stated that this repurchase was a move to increase end value to shareholders. Shareholders that are offered buy back will in turn gain profit and will decrease the overall outstanding shares. By decreasing the total shares the company's earnings per share ratio will consequently increase, and given the current plan should increase PEPS by around $4 over the following fiscal year (Hughes, 2013) and adding to the company's overall worth.The overall decrease in outstanding shares also decreases the total amount of dividends paid to investors thus cutting expense and adding to company revenues. Apple began issuing dividends toward the end of 2012 and has since seen a significant raise in dividends issued to its stockholder. Apple has since issued $10,564 million of vividness to shareholders representing a 324% increase dividends paid for 2013 from the $2,488 of dividends paid in 2012. Quarterly dividends were raised by 15% from SO. 65 per share to $3. 05 per share in 2013.The price to earnings ratio also increased from 9% to 13 % as well as the increase in payout ratio from . 29 to. 06 reflects this change value to stockholders as a consequence of stock retirement and increased dividend payout.. A very lucrative opportunity presents itself for current stockholders as the prospective raise of PEPS due to buy back will ultimately add incredible attention value due to increased dividend yield. Microsoft's plan to buy back a total $40 billion plan began in 2008, they began this buy back to increase overall PEPS and PIE as well as increase the companies payout ratio.Buyback has thus far increase PEPS however subsequent drops in PIE ratio from 12. 36 to 10. 24 and stagnant dividend yield make investment into Microsoft a riskier endeavor than Apple as the decrease in P/E does not bode well for buyer confidence. Though the higher dividend yield is still attractive to investors and is higher than that of Apple Inc. Apples market share in sma rt phones should e of particular concern to interested investors as of recent events. Market share, especially for key products, gauges the company's current position amongst its competition and overall pull within the market.It can effectively gauge if the company is meeting the needs of its consumers and prospective growth. Within the past year the Phone only gained around a 13% overall growth in sales, however this is miniscule compared to overall Smartened market growth of 44% in 2013. Apples market share shows further struggles as overall mobile market share decrease by a full 4% from 19% market share n 2012 to a 15% in 2013. (Gardner, 2013) However, other companies like Microsoft and Samsung saw significant increases in SO use and hardware use with Samsung clearing 31% total market share from its 30% in 2012.This may be worrisome as Apple may not providing what customers want and can account for a decrease in overall prospective growth. However, this may be remedied by Apples breakthrough to markets china and Japan late in 2013. The departure of Steve Jobs and the arrival of Tim cook in august of 2011 has been a cause for a weaker overall product line. The recent introduction of ewe products have spawned a lackluster response by consumers especially in the release of the Phone 5 variants (as and c) as well as the improved retina display pad mini.These products neglected to offer anything new or revolutionary to set Apple apart, they were just mere improvements to tested product. The lack of ingenuity has potential to cause a decline Apples growth in sales and may cede market share competitors who have more to offer to the consumer. Microsoft on the other hand has remained consistent in its product offerings throughout the years. This is expected of Microsoft as hey re key product involves enterprise systems that provide basic needs for businesses. Financial Statement Analysis (2004-2008) Course Title: Managing Financial Resources Course: MSc. Finance Date: 11th January 2010. TABLE OF CONTENT Executive Summary This report shows the analysis of the financial performance of Centrica Plc, one of the top energy business providers in UK. Based on my analysis from this report I can conclusively state that: Centrica Plc has an upper hand in the energy and gas market than it s competitor; Scottish Power. Centrica Plc’s turnover was very high in 2008 which shows that it made better sales than its competitor. Although Centrica’s sales turnover was high in 2008 but the profit margin dropped drastically. In the overall financial performance Centrica Plc made a loss of ? 645million in 2008 compared to the previous year 2007 when the company had a retained profit of ? 1088million. This was considered to be an impact of the global financial crises that hit the UK and US economy causing increase in oil prices and a drastic fall again as the level of global oil demand rises and at the same time causing a tight supply position. Centrica Plc’s Total shareholders return has an upper hand when compared with other 99 members of the FTSE 100 in 2008. INTRODUCTION evaluate the impact of financial accounting concepts on corporate reporting of Centrica Plc. evaluate the limitations of ratio analysis discuss the role of management accounting in the evaluation of Centrica’s business performance. I have been motivated to choose Centrica Plc because of the type of product they deal in, which is energy. It is a product that is essential for all, not just households. And it will be good to know if this company is actually doing well in terms of profitability and customer’s satisfaction. LITERATURE REVIEW *PROFITABILITY RATIO ANALYSIS *OF CENTRICA PLC AND SCOTTISH POWER (Reference: FAME (Financial Analysis Made Easy) FINANCIAL RATIO ANALYSIS OF CENTRICA PLC AND SCOTTISH POWER (Reference: FAME (Financial Analysis Made Easy) GRAHPICAL PRESENTATIONS OF RATIOS {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} ANALYSIS AND DISCUSSION FINANCIAL PERFORMANCE ANALYSIS BASED ON THE GRAHPS According to Barry Elliot and Jamie Elliot, ratios show different items in the financial statements. A ratio is not useful in isolation and its usefulness depends on what aspects of the firm’s business affairs are being investigated. Ratios, according to them are a powerful tool in interpreting and understanding a company’s account. Therefore, the graphs above show the performance of the Centrica plc and its competitor; Scottish Power over a period of 5years and will be analyzed below. DEBTORS TURNOVER: This ratio shows how long it takes debtors of a company to pay back credit purchases. In as mush as credit facilities enhances sale turnover in a competitive market, it is very important to take adequate control of it because it is an essential part of working capital management. (Buz/ed, 2009) It is calculated as: Debtors' Turnover*= Average Debtors * ? 365days Centrica Plc has been able to achieve a positive stock turnover ratio over the years with a 55% less time between 2004 and 2008 compared to its competitor that has a longer time of 18% to sell off its products. This shows that Centrica Plc has more sales turnover than Scottish Power. The trend on the graph show that Centrica Plc has been more liquid than Scottish power because the higher the ratio, the more liquid the business is said to be. It is obvious from the graph that Centrica Plc is more liquid than Scottish Power. That is Centrica Plc has a better capacity to pay it short term debt than Scottish Power, with reference to their current ratio of 1. 12 to 0. 59 respectively in 2008. DISCUSSION IMPACT OF FINANCIAL ACCOUNTING CONCEPT UPON CORPORATE REPORTING OF CENTRICA PLC Going Concern: The Board of directors of Centrica Plc continues to adopt the going concern basis in preparing the financial statement because they have a reasonable expectation that the company has adequate resources needed to continue operational existence for the foreseeable future Business Entity: Centrica Plc operates as a separate business entity from its investors. Cost: Centrica Plc reports the market value of its assets. Sincerity: The financial Statement of Centrica Plc is prepared and audited by auditors from the Pricewaterhouse coopers Monetary Unit: The financial statement of Centrica Plc shows a single monetary unit dominated in GBP (? ) because the parent company is in the UK. Dual concept: Centrica presents it total assets as liabilities (debt finance) plus equity (shares). Accrual: The revenue or income of Centrica Plc are recorded when they are actually earned. (Asmii V. 2009) ROLES OF MANAGEMENT ACCOUNTING ON THE BUSI*NESS PERFORMANCE OF CENTRICA PLC According to Institute of Management Accountants, Management accounting can be defined as â€Å"the internal business building role of accounting and finance professionals who work inside the organizations† They are concerned about the growth of the business in terms of evaluating the business prospects, budgeting and forecasting, implementing and monitoring internal controls for the purpose of achieving economic value. The Board of Directors of Centrica Plc believes that there must be high standards of corporate governance which are relevant to the overall integrity and performance of the business. The Company adopted a new set of Articles of Association which states the power of the Board of directors at the 2008 Annual General Meeting and stated below are few of the responsibilities of the Directors with respect to the managerial accounting of the company. the Group’s corporate governance and system of internal control development of strategy and major policies nterim dividend payments and recommendation of final dividends the appointment and removal of Directors and the Company Secretary the Group’s corporate responsibility arrangements including health, safety and environmental matters reviewing management performance approval of the annual operating plan, the financial statements and major acquisitions and disposals The Board gives thorough monitoring to the development of the co mpany’s strategies and also during the year 2008, the Board had a full review of the company’s overall strategy with the assistance of an independent external consultant. The Board also place value on their investors and promote communication program in order to hear their views of their shareholders as regards the key matters affecting the company. The Chief Executive and Group Finance Director held regular meetings with the Company’s major shareholders during the year and the Company’s Rights Issue which was the main topic of discussion was successfully completed during December 2008 after which an approval was given at the Company’s General Meeting held on 21 November 2008. The company’s Executive Committees also established a control infrastructure to ensure proper monitoring and management where major risks have been identified. *THE NON-FINANCIAL PERFORMANCE* OF CENTRICA PLC The fluctuation in demand and prices of oil worldwide as well as the global financial crises in 2008 made Centrica Plc face series of challenges and the Chairman of the company (Roger Carr) tagged the year â€Å"a difficult year†. But despite the difficulty, the company still performed well because it is a company that aims at delivering stability and growth for the benefit of their customers, employees and shareholders. Centrica Plc’s non-financial performance can be outlined in terms of the following: *BUSINESS PERFORMANCE OF CENTRICA* PLC LIMITATIONS OF RATIO ANALYSIS Ratios are useful methods of analyzing the performance and financial position of a business but they have their flaws which are seen as limitations and will be analyzed below. THE IMPACT OF THE CHANGE FROM UK GAAP TO IFRS ON THE CORPORATE REPORTING OF CENTRICA PLC that IFRS has improved the company’s 2004 operating profit and statutory Earnings Per Share (EPS) reduction in shareholder’s fund as a result of pensions deficit Adjustment the company’s policy to link dividend to earnings thereby increasing pay out ratios. Some assets and liabilities will be treated differently which will affect timing of profit. CONCLUSION With reference to the ratios analyzed above, Centrica Plc has an upper hand in the energy and gas market than it s competitor; Scottish Power. Centrica Plc’s turnover was very high in 2008 which shows that they made better sales than its competitor. Although Centrica’s sales turnover was high was high in 2008 but the profit margin dropped drastically. In the overall financial performance Centrica Plc made a loss of ? 645million in 2008 compared to the previous year 2007 when the company had a retained profit of ? 088million. This was considered to be an impact of the global financial crises that hit the UK and US economy causing increase in oil prices and a drastic fall again as the level of global oil demand rises and at the same time causing a tight supply position. Finally, we can say that from the record of 2007, the financial performance in 2008 was good despite the economic instability. Centrica Plc made strong progress against the strategic priorities set out at the end of year 2006. The global financial crises which remain very challenging in the UK till date could pose as a problem for many of the company’s customers. But Centrica Plc promises to continue to place their customers’ needs at the forefront of their agenda, alongside the determination to deliver increasing long-term value for our shareholders FUTURE OF CENTRICA PLC According to the Chief Executive’s Review, some priorities have been set for the future growth of Centrica which would help measure performance in year 2009. Some of which are: To build on the company’s growth platform: Increasing the value of their customer base by expanding the overlap between the energy and services business. Also establishing a centralized service platform and the acquisition and construction of gas and power assets which will enable the company to compete efficiently in the energy market. To reduce risk through integration: There will be more focus on UK in the coming year 2009, due to the high demand. Therefore more production has to be made by integrating/building closer relationship with the National Oil Companies. To transform British Gas: In order for Centrica Plc to succeed, British Gas Residential which seems to be the core backbone of Centrica’s business has to deliver high level of profitability. Therefore, there will have to be an integration of the British Gas Residential, British Gas Business and British Gas Services into a single customer-focused organization. Amidst all these future plans briefly mentioned above, I can now conclusively say that the future performance of Centrica Plc is not 100% certain of profitability as they are not exempted in the effect of the global financial crises which is still hitting the UK economy. Although demand for product might rise causing increase turnover but consumers might not be able to meet up with financial obligations of paying cash. So, Centrica must be prepared for more credit sales which might decrease its debtor turnover. Also, prices of product must be put into consideration despite the goal of maximizing profit not forgetting its competitors. And finally, the leadership of Centrica Plc will be playing major role in delivering stability and growth for the benefit of customers, employees and shareholders. REFERENCES Asmii Vernekar, 2009. Available at: http://www. buzzle. com/articles/basic-accounting –concepts-and –principles. html. Assessed on 15th December, 2009 Buz/ed, 2009. Available at: http://www. bized. co. uk/compfact/ratios/sdc5. htm Assessed on 13th December, 2009. Centrica Plc, 2005. International Financial Reporting Standards. Available at: http://www. centrica. co. uk/files/results/2004_ifrs_transcript. pdf. Assessed on 15th December, 2009 FAME (Financial Analysis Made Easy), 2009. Available at: http://www. fame. bvdep. com/version-20091130. Assessed on 11th December, 2009 Peter Atrill, and Eddie McLaney (2008), Accounting and Finance for Non-Specialists, 6th ed. Prentice Hall, financial times. David Alexander and Christopher Nobes. (2007), Financial Accounting, An International Introduction, 3rd ed. Prentice Hall, financial times.