The Invention and History of Bubble Gum

Chewing gum has a history that spans as far back as the ancient Greeks, who chewed the resin from mastic trees. But it wasnt until 1928 that Walter Diemer happened upon just the right gum recipe to make the very first bubble gum, a special type of chewing gum that allows the chewer to blow big pink bubbles. Earlier Attempts Diemer might have invented bubble gum, but he wasnt the first person who wanted to make gum bubbles. There were earlier attempts at making bubble gum in the late 1800s and early 1900s, but these bubble gums did not sell well because they were considered too wet and usually broke before a good bubble was formed. Diemers Bubble Gum Diemer gets the credit for inventing the first successful type of bubble gum. At the time, 23-year-old Diemer was an accountant for Fleer Chewing Gum Company, and he experimented with new gum recipes in his spare time. Diemer thought it was an accident when he hit upon a formula that was less sticky and more flexible than other types of chewing gum, characteristics that allowed a chewer to make bubbles (even if this discovery took him a year of failed attempts.) Then Diemer actually did have an accident: He lost the recipe the day after his discovery and it took him four months to figure it out again. Why Pink? Diemer used a pink dye for his new gum because pink was the only color available at the Fleer Chewing Gum Company. Pink remains the industry standard for bubble gum. Dubble Bubble To test his new recipe, Diemer took 100 samples of the new gum to a nearby store, selling it for a penny apiece. It sold out in a single day. Realizing they had a new, popular type of gum, the owners of Fleer marketed Diemers new gum as Dubble Bubble. To help sell the new bubble gum, Diemer himself taught salespeople how to blow bubbles so that they, in turn, could teach potential customers. Sales broke $1.5 million in the first year. In 1930, packages including a Fleer Funnies color comic featuring characters Dub and Bub were introduced. In 1950, Dub and Bub were dropped for Pud and his pals. Production of Dubble Bubble was halted during World War II because of a shortage of latex and sugar needed for manufacturing. Thomas Adams is credited with inventing a machine that mass produced chewing gum. Dubble Bubble remained the only bubble gum on the market in the United States until Bazooka bubble gum appeared after World War II, with the competing comic Bazooka Joe. Evolution of Bubble Gum You can now buy bubble gum in the original sugary pink form, as a small piece wrapped in paper, or as gumballs. And it now comes in a variety of flavors. Besides the original, you can get bubble gum in grape, apple, and watermelon. Gumballs come in original flavor plus blue raspberry, cotton candy, cinnamon apple, green apple, cinnamon, fancy  fruit, and watermelon. Plus you can get gumballs that look like baseballs or smiley faces.

Dancing With Wolves By Kevin Costner - 1702 Words

Dancing with wolves, was directed and starred by Kevin Costner. Originally, this movie was basically an attempt to show both sides of the Native Americans and the White settlers. It showed how the Native Americans perceives their insights on how the white settlers coming into the Western frontier was within the concept of â€Å"Manifest destiny.† The film is narrated from his point of view by Costner who plays Lieutenant Dunbar. Dunbar takes a risk to do a suicide charge and while surviving from it he is rewarded a spot on the frontier, which he really wanted to go see it before it disappears forever. Traveling to find his post he comes upon an abandoned post, where he resides. When at Fort Sedgewick, Dunbar also befriends a wolf he names Two Socks for its white forepaws his first known friend being out in the West. He noted everyday into a journal like a diary marking his experiences or feelings and taking in all the beauty of the land. After a while he comes in contact wit h the the Sioux Indians, which sooner or later gets to know on a more personal level. Dunbar at first didn’t know exactly how to feel but after a few curious acts upon the native Americans he wasn’t afraid of them he only wanted to communicate with them and make peace. I believe this film does an amazing job of showing how the American West landscape was and how the soul of the the Sioux Indians were with vivid imagery, language and body language. More than half of the film is dialogued because they wereShow MoreRelatedNative Americans and Their Intrinsic Relationship with Western Films950 Words   |  4 PagesDances With Wolves, directed by Kevin Costner, and The Searchers, directed by John Ford, looks into the fabric of this countrys past. The media has created a false image of the relationship between Native Americans and White men to suppress the cruel and unfortunate reality. Both directors wanted to contradict these stereotypes, but due to the time period the films were created, only one film was successful. Unlike The Searchers, Dancing With Wolves presents a truly realistic representation of NativeRead MoreComparing Dances with Wolves with The Searchers600 Words   |  3 Pageswith Wolves with The Searchers The Native American culture is something that is cherished by their people. â€Å"Perhaps no other group of people has quite the rich and storied culture as those of the Native Americans. They have a history rich in struggle, strife, and triumph (Native American Culture).† Dances with Wolves, directed by Kevin Costner in 1990, is about a white man who becomes interested in the Native American culture and decides to befriend fellow an Indian tribe (Dances with Wolves). TheRead MoreFilm Analysis : Dances With Wolves2774 Words   |  12 PagesName: Course: Professor: Date: Dances with Wolves Dances with Wolves, is a standout amongst the most imperative films to ever leave Hollywood. For all its inadequacies, the film still goes far in bringing a preview of Native American society into the aggregate cognizance of prevailing America. The screenplay advances a more noteworthy comprehension, acknowledgement, and sensitivity for the Lakota society. There are numerous scenes inside the film that appear to support this thought. The humankindRead More How the Western Film Genre Has Developed over the Past Century2037 Words   |  9 Pagesto women. One of the most famous revisionist Westerns was ‘Dances with Wolves’ which was made in 1991. Kevin Costner starred in this film and directed it. He played the part of a white man who befriends a Native tribe. He is even best friends with one of the Native Indians called ‘Wind in his hair’ and he gets an Indian name ‘Dances with wolves’ He got this name because the Indians saw him dancing clo se to a pack of wolves and thought it was funny. This film shows the Indians to be the civilised

Auditing & Assurance Services Are Required †Myassignmenthelp.Com

Question: Why Auditing Assurance Services Are Required? Answer: Introduction Auditors are required to analyse degree of assurance on the financial statement, operations of business entity and other environmental factors that affect business organization. It is the duty of auditor to identify, analyse and evaluate various types of risk that business organisation may or may not have. In this industry report, analysis of Australian retail industry has been undertaken. Retail industry of Australia covers all sort of environmental factors and there are various business firms that are operating in the same industry. Analysis of the industry is the prime requirement of initiating audit and assurance service. Level of and types of inherent risks, that industry has an impact business entities has been analysed in this report. Myer Pty Ltd is the business organisation that has been taken for the analysis in this report. Analysis of Myer Pty Ltd includes health and financial check up for the purpose of audit and assurance services has been conducted. Ratio analysis has been used for the purpose of analysing inherent risk present in Myer Pty Ltds financial and operational functions. Industry analysis Consumer goods retailing industry is the industry that has been examined and assessed. There are various factors and situation that are present in the industry and make industry complex. Retail sector in Australia has been growing at great phase and integration of e-commerce and retail business industry has resulted in rising growth graphs. Retail industry in Australia has shown great amount of growth and development in recent past years. Internet retailing is the emerging trend in the Australian retail industry or sector. It has been reported that, sales through online or internet has outperformed store based sales. On the other hand, Australian retail industry also shown low level of growth rate for its participants i.e. business organisations (Grimm Blazovich, 2016). Australian retail industry has been impacted from both macro economic factors and micro environmental factors. But technological environmental factor in terms of developments taken place in information technology has impacted retail industry or in other words supported Australian retail industry to a great level. At micro environmental level, less entry barriers and high level of competition is the key element of Australian retail industry. Company brief Myer Pty ltd is engaged in business operations of retailing of consumer goods or products. Myer Pty ltd is one of the largest departmental chains operating business in Australia and covered most of the part of Australia. Myer Pty ltd has been in the business of retailing products like clothings, footwear, accessories, cosmetics, electrical appliances, furniture, beddings, books, stationeries, etc. There is vast range of business products that Myer Pty ltd operates. Myer Pty ltd is the product of disinvestment strategy of Coles Group and later on purchased by Wesfarmers limited. But after few years, Myer Pty ltd has been emerged as separate legal entity. Myer Pty ltd has been conducting business operations in many location of Australia i.e. Queensland, Tasmania, Victoria and New South Wales, and has been able to reach its customers very effectively. With the growing demand of e-commerce, Myer Pty ltd has also developed e-shopping site for their customers (Myer Pty Ltd Annual Report, 2 016). In 2011, Myer Pty ltd has launched their online website or e-commerce platform for their customers to interact and shop from there. Analysis of company Ratio analysis Ratio analysis is the technique that is used to analyse and evaluate state of financial position and financial performance of the business organisation. There are four major types of ratios categories that are used to analyse and evaluate inherent risk present in the business operations. For the purpose of ratio analysis of Myer Pty Ltd, financial statements i.e. income statement, statement of financial position, cash flow statement and statement showing change in equity has been used and analysed (Karanovic, Bogdan Baresa, 2010). Following are different type of ratios that are used in identifying inherent risk in business operations of Myer Pty Ltd: Liquidity ratio Current ratio = Current assets Current liabilities 2016 = 479,738 / 520,585 = 0.92 times 2015 = 480,804 / 481,389 = 0.999 times Quick ratio = Quick asset Current liabilities Quick asset = Current assets (Inventories + prepaid expenses) 2016 = $ 479,738 - ($ 396,297 + $ 8,939) / $ 520,585 2016 = $ 74,502 / $ 520,585 = 0.143 times 2015 = $ 480,804 ($ 381,907 + $ 16,780) / $ 481,389 2015 = $ 82,117 / $ 481,389 = 0.171 times Particulars 2016 2015 Current ratio 0.92 times 0.99 times Quick ratio 0.143 times 0.171 times Liquidity ratio Liquidity ratio is used to analyse liquidity position and working capital management capabilities of the business organisation. Before starting of audit planning and procedure, it is very much important for the auditor to analyse liquidity of the business organisation. If liquidity position is good then is less possibility of material misstatement in financial statements of the business organisation. In case of Myer Pty Ltd, liquidity in business operations has reveal less efficiency and management or Myer Pty Ltd is available with fewer current assets to pay off current obligations. With the help of liquidity ratio, assessment of working capital management can be done and limiting factors can be identified (Oke Gopalakrishnan, 2009). For this purpose, we have used current ratio and quick ratio. Current ratio analysis is taken between current assets and current liabilities. Current ratio of Myer Pty ltd reflects weak liquidity position and less effective working capital management. In both the years, Myer Pty ltd has not able to maintain adequate level of current assets or liquidity to pay off current obligations. On the other hand, quick ratio has been used to analyse deeper working capital position. Results of quick ratio are adverse in terms of actual cash and cash equivalents available for current obligation. Therefore this shows inheres risk of liquidity that Myer Pty ltd possess or has in its working capital. Profitability ratio In order to analyse profitability of the Myer Pty ltd or in other words financial performance of Myer Pty ltd can be analysed with the help of profitability ratios. Profitability ratio is effective tool to analyse inherent risk present in the profit earning capacity of the business organisation. There are 3 major types of profitability ratio i.e. gross profit ratio, net profit ratio and asset turnover ratio. All these ratios are used to analyse profit earning ability and trend in the same. In case of Myer Pty Ltd, their net profit earning capacity is at adverse side. This has hinted towards, inherent risk of inability of generating profits and in cost / expenses management of the Myer Pty Ltd. In both the years, their net profit margin is under 3 % and this has been proved to be adverse condition for Myer Pty Ltd. In this case, there will be financial inherent risk that auditor has to manage or mitigate (Wahlen Wieland, 2011). Business organisation is required to maintain adequate level of profitability in order to attract more investors and stakeholders in the business operations. Net profit margin has been at decline side and this can be because of overstatement of expenses or cost. According to industry in which Myer Pty Ltd operates, profitability is at higher side. Therefore this can be inherent risk that shall be considered during audit planning. Gross profit margin = Gross profit Sales x 100 2016 = $ 1,274,291 / $ 2,679,015 x 100 = 47.57 % 2015 = $ 1,290,392 / $ 2,694,473 x 100 = 47.89 % Net profit margin = Net profit Sales x 100 2016 = $ 60,543 / $ 2,679,015 x 100 = 2.26 % 2015 = $ 29,826 / $ 2,694,473 x 100 = 1.11 % Asset turnover ratio = Total assets Sales x 100 2016 = $ 1,867,898 / $ 2,679,015 x 100 = 69.72 % 2015 = $ 1,886,548 / $ 2,694,473 x 100 = 70 % Particulars 2016 2015 Gross profit margin 47.57 % 47.89 % Net profit margin 2.26 % 1.11 % Asset turnover ratio 69.72 % 70 % Solvency Ratio Solvency in the business organisation is the state of maintaining and having control over business organisation. Solvency ratios are used for the purpose of risk assessment of the Myer Pty Ltd therefore these ratios are important to be considered here. In case of Myer Pty Ltd, debt / equity ratio suggest level or propos ate of debt and equity used in the supporting business operations of the Myer Pty Ltd. Debt / equity ratio identifies inherent risk in capital structure of the business organization. Debt to equity ratio reflects that in 2016, Myer Pty Ltd has under-utilised its debt capabilities and in 2015 Myer Pty Ltd has over-utilised its debt capacity. This denotes significant inherent risk in Myer Pty Ltds capital structure (Wahlen Wieland, 2011). Financial leverage has been used for the purpose of analysing risk in using long term liabilities or debt as compared to equity i.e. internal fund. In order to analyse inherent risk involve in business operations of Myer Pty Ltd and f or the assessment of risk in repayment, interest coverage ratio has been used. Interest coverage ratio shows fluctuation of in 2015 and 2016 years and therefore there is possibility of financial risk. Debt / equity ratio = Total Debt Total equity 2016 = $ 760,133/ $ 1,107,765 = 0.686 times 2015 = $ 1,023,532 / $ 863,016 = 1.22 times Financial leverage = Long terms liabilities Total equity 2016 = $ 239,548 / $ 1,107,765 = 0.089 times 2015 = $ 542,143 / $ 863,016 = 0.628 times Interest coverage ratio = Interest expenses Earnings before interest and taxes 2016 = $ 95,236 / $ 15,447 = 6.17 times 2015 = $ 71,769 / $ 23,488= 3.06 times Particulars 2016 2015 Debt / equity ratio 0.686 times 1.22 times Financial leverage 0.089 times 0.628 times Interest coverage ratio 6.17 times 3.06 times Efficiency Ratio Efficiency ratio has been used for the purpose of analysed risk involved in activities that Myer Pty Ltd undertakes in normal course of business. Receivables turnover, inventory turnover and cash conversion cycle has been used making assessment of risk involve in business operations of Myer Pty Ltd. Efficiency ratio of Myer Pty Ltd revels that there is risk involve in operational capacity or activities of Myer Pty Ltd. Cash conversion cycle is used to analyse period of time within which cash is cycled by the business entity. In other words, in the year 2016 their cash conversion cycle has been increased and this has impacted their liquidity position. Working capital management risk has been evolved in this case and hence leads to higher inherent audit risk. Receivables period is the reflection of the higher inherent risk as it is at higher side. Receivables turnover = Credit sales during the month accounts receivables 2016 = $ 2,679,015 / $ 30,490 = 180.90 days 2015 = $ 2,694,473 / $ 14,894 = 180.90 days Inventory turnover = Cost of goods sold Inventory 2016 = $ 1,527,552 396,297 = 3.85 days 2015 = $ 1,495,382 / 381,907 = 3.92 days Cash conversion cycle = Days sales outstanding + Inventory days Payable period 2016 = Days sales outstanding (2.79 days) + Inventory days (92.97 days) Payable period (45.43 days) = 50.34 days 2015 = Days sales outstanding (2 days) + Inventory days (92.59 days) Payable period (48.23 days) = 46.36 days Particulars 2016 2015 Receivables turnover 87.86 days 180.90 days Inventory turnover 3.85 days 3.92 days Cash conversion cycle 50.34 days 46.36 days DuPont analysis Return on equity = Net profit margin x Total asset turnover x Financial leverage 2016 = Net profit margin (2.26 %) x Total asset turnover (69.72 %) x Financial leverage (2.18) 2016 = 0.0226 x 0.6972 x 2.18 = 3.44 % 2015 = Net profit margin (1.11 %) x Total asset turnover (70 %) x Financial leverage (1.69) 2015 = 0.0111 x 0.70 x 1.69 = 1.31 % In order to observe earning for shareholders, return on equity is used to analyse the same. Equity shareholders are concerned about return on equity share capital or on their investments. DuPont analysis examines return on equity on extended basis. DuPont analysis is used to analyse return on equity that business organisation has earned and provided basis of decision making to the investors. DuPont analysis undertakes financial leverage, net profit ratio and total asset turnover ratio into account in calculation and decision-making process. In present case of Myer Pty ltd, DuPont analysis has shown average return for equity shareholders. Vertical and horizontal analysis of financial statements Statement showing vertical analyses of income statement of Myer Pty Ltd for the year ended 2015 and 2016: Particulars 2016 2015 change (amount) change % Sales Revenue $ 2,640,154 $ 2,654,351 $ -14,197 -0.53% Operating revenue $ 161,689 $ 131,423 $ -30,266 -23.03% Cost of goods sold (COGS) $ -1,527,552 $ -1,495,382 $ 32,170 -2.15% Operating or Gross Profit $ 1,274,291 $ 1,290,392 $ 16,101 1.25% Income (Other) $ 71 $ 108 $ 37 34.26% Selling-expenses $ -842,217 $ -828,906 $ 13,311 -1.61% Administration-expenses $ -318,039 $ -328,138 $ -10,099 3.08% Equity accounted associate $ -620 $ 0 $ 620 620.00% Strategic review expenses $ -18,250 $ -61,687 $ -43,437 70.42% EBIT (Earnings before Interest and Tax) $ 95,236 $ 71,769 $ -23,467 -32.70% Finance revenue $ 906 $ 753 $ -153 -20.32% Finance costs $ -15,447 $ -23,488 $ -8,041 34.23% Net finance costs $ -23,488 $ -22,735 $ 753 -3.31% Profit before income tax $ 80,695 $ 49,034 $ -31,661 -64.57% Income tax expense $ -20,152 $ -19,208 $ 944 -4.91% Profit for the period $ 60,543 $ 29,826 $ -30,717 -102.99% (Bisogno, Santis Tommasetti, 2015) Vertical and horizontal analysis of statement of financial performance: Particulars 2016 Percent 2015 Percent Change (amount) Change in % ASSETS Current assets Cash and cash equivalents $ 45,207 2.42 % $ 53,323 2.83 % $ -8,116 -15.22 % Trade receivables and prepayments $ 37,883 2.03 % $ 30,363 1.61 % $ 7,520 24.77 % Inventories $ 396,297 21.22 % $ 381,907 20.24 % $ 14,390 3.77 % Derivative instruments $ 351 0.09 % $ 15,211 0.81 % $ -14,860 -97.69 % Total current assets $ 479,738 25.68 % $ 480,804 25.49 % $ -1,066 -0.22 % Non-current assets Property, plant and equipment $ 445,379 23.84 % $ 469,006 24.86 % $ -23,627 -5.04 % Intangible assets $ 904,171 48.41 % $ 916,108 48.56 % $ -11,937 -1.30 % Deferred tax assets $ 27,056 1.45 % $ 18,016 0.95 % $ 9,040 50.18 % Derivative financial instruments $ 80 0.004 % $ 0 $ 80 80 % Investment in associate $ 9,203 0.49 % $ 0 $ 9,203 9230 % Other non-current assets $ 2,271 0.12 % $ 2,614 0.14 % $ -343 -13.12 % Total non-current assets $ 1,388,160 74.32 % $ 1,405,744 74.51 % $ -17,584 -1.25 % Total assets $ 1,867,898 100 % $ 1,886,548 100 % $ -18,650 -0.99 % LIABILITIES Current liabilities Trade and other payables $ 400,590 52.70 % $ 387,182 37.83 % $ 13,408 3.46 % Provisions $ 94,228 12.40 % $ 85,728 8.38 % $ 8,500 9.92 % Deferred income $ 10,812 1.42 % $ 6,997 0.68 % $ 3,815 54.52 % Current tax liabilities $ 7,033 0.93 % $ 512 0.05 % $ 6,521 1273.63 % Derivative financial instruments $ 7,127 0.94 % $ 99 0.01 % $ 7,028 7098.99 % Other liabilities $ 795 0.10 % $ 871 0.09 % $ -76 -8.73 % Total current liabilities $ 520,585 68.49 % $ 481,389 47.03 % $ 39,196 8.14 % Non-current liabilities Borrowings $ 147,273 19.37 % $ 441,179 43.10 % $ -293,906 -66.62 % Provisions $ 19,754 2.60 % $ 21,198 2.07 % $ -1,444 -6.81 % Deferred income $ 69,702 9.17 % $ 75,112 7.34 % $ -5,410 -7.20 % Derivative financial instruments $ 2,819 0.37 % $ 4,654 0.45 % $ -1,835 -39.43 % Total non-current liabilities $ 239,548 31.51 % $ 542,143 52.97 % $ -302,595 -55.81 % Total liabilities $ 760,133 100 % $ 1,023,532 100 % $ -263,399 -25.73 % Net assets $ 1,107,765 $ 863,016 $ 244,749 28.36 % EQUITY 0 Contributed equity $ 739,338 66.74 % $ 524,755 60.80 % $ 214,583 40.89 % Retained earnings $ 379,483 34.26 % $ 335,366 38.86 % $ 44,117 13.15 % Reserves $ -11,056 -1.00 % $ 2,895 0.34 % $ -13,951 -481.90 % Total equity $ 1,107,765 100 % $ 863,016 100 % $ 244,749 28.36 % (Aggarwal Gupta, 2016) Statement showing changes take place in cash flow position of Myer Pt ltd: Particulars 2016 2015 change (amount) Cash flows from operating activities Receipts from customers $ 3,101,149 $ 3,096,099 $ 5,050 Payments to suppliers and employees $ -2,915,467 $ -2,946,252 $ 30,785 Interest paid $ -15,894 $ -22,601 $ 6,707 Tax paid $ -20,369 $ -30,439 $ 10,070 Net cash inflow from operating activities $ 149,490 $ 96,915 $ 52,575 Cash flows from investing activities Payments for property, plant and equipment $ -40,479 $ -63,099 $ 22,620 Payments for intangible assets $ -11,891 $ -17,276 $ 5,385 Net cash outflow from investing activities $ -58,251 $ -62,350 $ 4,099 Cash flows from financing activities Repayment of borrowings net of transaction costs $ -295,000 $ 17,927 $ -312,927 Proceeds from the issue of shares, net of transaction costs $ 212,011 $ 23 $ 211,988 Dividends paid to equity holders of the parent $ -16,426 $ -73,211 $ 56,785 Net cash outflow from financing activities $ -99,355 $ -54,806 $ -44,549 Cash and cash equivalents at end of period $ 45,207 $ 53,323 $ -8,116 (Deo, 2016) Inherent risk identified From the analysis of financial statements of Myer Pty ltd inherent risk has been identified in this section. Following are some inherent risk of Myer Pty ltd: Business risk (operational risk): One of the major risks of Myer Pty ltd which prevails in the business operations of Myer Pty ltd can be termed as business risk. It can be observed from the analysis of statements of cash flows of 2015 and 2016 that management of Myer Pty ltd are not able to generate higher cash flows from operating activities or from business operations (Chaffai Dietsch, 2015). Since Myer Pty ltd is operating their business operations in retail industry and to be more specific in consumer goods sector, therefore business operation management plays important role. As liquidity ratio also suggest, inefficient working capital management of Myer Pty ltd can lead to operational failure (Daniel, 2014). Financial risk (profitability): Second important factor that lea towards inherent risk in the business operations of Myer Pty ltd is of financial risk that Myer Pty ltd has been facing. From the ratio analysis and trend analysis undertaken for the period of last two financial years, this has been proved that Myer Pty ltd has low level of profitability. As compared to industry standards and profitability of competitors, Myer Pty ltd has been facing serious issue of low profitability (El-Dalabeeh, 2013). Deeper analysis of profitability and cost structure of the Myer Pty ltd is required to be undertaken during the audit procedure. In case of Myer Pty ltd, inherent risk is mainly associated with cost structure and expenses administration therefore these two aspects shall be checked thoroughly. Rapid change in inventory: As Myer Pty ltd has been operating their business operations consumer goods retail industry therefore inventory level is ever changing. From the analysis of financial statement or financial position of Myer Pty ltd, it has been analysed that Myer Pty ltd has invested significant amount in inventory (Gomaa Shaw, 2011). Inventories are major current asset of Myer Pty ltd; therefore this requires systematic analysis during audit. Significant investment in rapid changing inventory or obsolete inventory has posed significant inherent risk. Conclusion From the research conducted on Myer Pty Ltd, it can be conclude that Myer Pty Ltd has been operating business in retail industry. From the analysis of financial statements of Myer Pty Ltd, it has been observed that management is not able to manage business operations effectively. Ratio analysis has been used in the process of analysing performance of Myer Pty Ltd in different sections of business. Profitability level has been at adverse side which is supported by profitability ratios (gross and net profit ratios). On the other hand, solvency management in capital structure has also possessed inherent risk. As capital structure of Myer Pty Ltd has not reflected optimum level or many issues related to debt management needs to be undertaken during the audit procedure. After analysis of financial statement of past two years i.e. 2015 and 2016, some possible inherent risk that shall be considered during audit procedure has been identified. Business risk, profitability risk and inventory m anagement risk are some inherent risk factor that shall be undertaken or considered at the time of audit. References Aggarwal, N., Gupta, M. (2016). Returns from Financial Statement Analysis Among Low Book-to-Market Stocks: Evidence from India. IUP Journal of Applied Finance, 22(2), 47-61. Bisogno, M., Santis, S., Tommasetti, A. (2015). Public-Sector Consolidated Financial Statements: An Analysis of the Comment Letters on IPSASBs Exposure Draft No. 49. International Journal of Public Administration, 38(4), 311-324. Chaffai, Dietsch. (2015). Modelling and measuring business risk and the resiliency of retail banks. Journal of Financial Stability, 16, 173-182. Daniel Botez. (2014). Risk-Assessment Procedures and Establishing the Size of Samples for Auditing Financial Statements. Studies and Scientific Researches: Economics Edition, 0(20), Studies and Scientific Researches : Economics Edition, 01 December 2014, Vol.0(20). Deo, P. (2016). Evaluating a cash flow statement. International Journal of Business, Accounting and Finance (IJBAF), 10(1), 22. El-Dalabeeh, A. (2013). The Role of Financial Analysis Ratio in Evaluating Performance: (Case Study: National Chlorine industry). Interdisciplinary Journal of Contemporary Research in Business, 5(2), 13-28. Gomaa, Markelevich, Shaw. (2011). Introducing XBRL through a financial statement analysis project. Journal of Accounting Education, 29(2-3), 153-173. Grimm, Blazovich. (2016). Developing student competencies: An integrated approach to a financial statement analysis project. Journal of Accounting Education, 35, 69-101. Karanovic, G., Bogdan, S., Baresa, S. (2010). Financial analysis fundament for assessment the value of the company. UTMS Journal of Economics, 1(1), 73-84. Myer Pty Ltd Annual Report, 2. (2016). Myer Pty Ltd Annual Report, 2016. Myer Pty Ltd , 6-60. Oke, Gopalakrishnan. (2009). Managing disruptions in supply chains: A case study of a retail supply chain. International Journal of Production Economics, 118(1), 168-174. Wahlen, J., Wieland, M. (2011). Can financial statement analysis beat consensus analysts recommendations? Review of Accounting Studies,

Why Study Liberal Arts Essay Example For Students

Why Study Liberal Arts Essay Egyptian art is primarily religious in nature. Ancient Greek art depicts naturalism. They portray human forms in a realistic and anatomically correct manner. Their art has a conservative form with a very complex detail. Roman art developed as a new source of artistic creativity much more progressive than the conservative Greek art, The diversity of its form and its variety inspired the modern attitude in art. Byzantine art was purposely made to glorify the Christian religion and to express its mystery. It is tilled with spiritual symbolism, illustrates a love tot splendor. It was a combination of Eastern (decorative art forms) and classical Western art (naturalistic art). We will write a custom essay on Why Study Liberal Arts specifically for you for only $16.38 $13.9/page Order now Romanesque art was characterized by its very vigorous style in painting and sculpture, lavishly decorated manuscripts, and retained many basic features of Roman architectural styles. It Vass also greatly influenced by Byzantine art with a highly innovative and coherent style. The basic characteristics of Gothic art styles reinforce symbolic meanings. The church symbolizes the transcendence of the soul, and the underlying philosophy is to create buildings of height and light Different eras different styles, different characteristics and functions of the arts occurred but all of those contributed in the development and establishing the importance of arts in our lives today. Page 141 WHAT TO KNOW: In this lesson, you will learn about the different characteristics, functions and types of art forms (painting, sculpture, architecture) from PreHistoric (including ancient Egyptian art forms), Classical(Greek and Roman) up to Medieval era (Baroque and Romanesque art forms. ) Try to analyze chart form and discover how they develop in every period. PREHISTORIC ERA Pre-historic includes all human existence before the emergence of writing. Their art is of interest not only to the art historians but also to archeologist and anthropologist, for whom the art is only one clue- along with fossils, pollens and other finds to an understanding of early human life and culture. Paintings from the Pre-historic Era Their paintings were found inside the caves which may have been their bay f communicating with each other. It may also be for religious or ceremonial purposes. These paintings may be more an artifact of the archeological evidence than a true picture Of humans first created earl Prehistoric drawings of animals were usually correct in proportion. Image from Treasures of the World, 1961 ICP Library Cave of Lascar, 15000-10000 B. C. Stone Age The dominant features in the painting were large animals native in the region. It was discovered on 12 September 1940 and given statutory historic monument protection. The painting has nearly 2,000 figures composed mainly of animals, unman figures and abstract design. Some sections have been Western Classical Page 142 Unit I identified inside the cave such as: The Great Hall of the Bulls, The Lateral Passage, Thatches of the Dead man, The Chamber of Engravings, The Painted Gallery, and the Chamber of Felines Paintings from Ancient Pet The purpose Of Egyptian paintings is to make the deceased afterlife place pleasant. With this in mind, themes include journey to the underworld introducing the deceased to the gods Of the underworld their protective deities. It emphasizes the importance Of life after death and the preservation Of the knowledge of the past. Most paintings were highly stylizes, symbolic, and shows profile view of an animal or a person. The main colors used were red, black, blue , gold and green taken derived from mineral pigments that can withstand strong sunlight without fading. Paintings from Sarcophagus of Tutankhamen XVIII dynasty, 1362 AD. 1253 BC (Images trot Treasures tot the World, 1961 ICP Library) Page 143 The paintings Of the walls on the tomb shows events Of the life Of the king While he was still on earth and the scenes he expects to encounter in the underworld after his death. Paintings from Classical Greek Era Paintings during the classical era were most commonly found in vases, panels and tomb. It depicts natural figures with dynamic compositions. Most of the subjects were battle scenes, mythological figures, and everyday scenes reveals a grasp of linear perspective and naturalist representation. Most common methods of Greek painting: 1. .u9059d7b86f32348b9e88aca3e2dbfd76 , .u9059d7b86f32348b9e88aca3e2dbfd76 .postImageUrl , .u9059d7b86f32348b9e88aca3e2dbfd76 .centered-text-area { min-height: 80px; position: relative; } .u9059d7b86f32348b9e88aca3e2dbfd76 , .u9059d7b86f32348b9e88aca3e2dbfd76:hover , .u9059d7b86f32348b9e88aca3e2dbfd76:visited , .u9059d7b86f32348b9e88aca3e2dbfd76:active { border:0!important; } .u9059d7b86f32348b9e88aca3e2dbfd76 .clearfix:after { content: ""; display: table; clear: both; } .u9059d7b86f32348b9e88aca3e2dbfd76 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9059d7b86f32348b9e88aca3e2dbfd76:active , .u9059d7b86f32348b9e88aca3e2dbfd76:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9059d7b86f32348b9e88aca3e2dbfd76 .centered-text-area { width: 100%; position: relative ; } .u9059d7b86f32348b9e88aca3e2dbfd76 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9059d7b86f32348b9e88aca3e2dbfd76 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9059d7b86f32348b9e88aca3e2dbfd76 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9059d7b86f32348b9e88aca3e2dbfd76:hover .ctaButton { background-color: #34495E!important; } .u9059d7b86f32348b9e88aca3e2dbfd76 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9059d7b86f32348b9e88aca3e2dbfd76 .u9059d7b86f32348b9e88aca3e2dbfd76-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9059d7b86f32348b9e88aca3e2dbfd76:after { content: ""; display: block; clear: both; } READ: An onlookers view of Pro Choice amongst women EssayFresco- method of painting water-based pigments on a freshly applied plaster usually on a wall surfaces, Colors are made with grind powder pigments in pure water, dry and set with a plaster to become a permanent part tot the wall. Ideal for murals, durable and has a matte style. . Encrusting- developed to use by Greek ship builders, who used the hot wax to fill the cracks of the ship. Soon pigments (colors) was added and used to paint a wax hull. Page 144 Judgment of Paris (370-BIBB c. ) (Image from Treasures of the World, 1961 ICP Library) Vase painting Checker Style also referred to as Checker Vases are red-figured potte ry named after the place where it was found, Shapes commonly found are: 1. Apelike (wine container) 2. Alkalis (a low bowl with two horizontal handles and a low broad toot) 3. Lobes gamines (with high handles and lid use to carry bridal bath) 4. Rater (bowl use or mixing wine and water) Most common motifs were mostly scenes from the life of women (often exaggeratedly idyllic), mythological benefiting were popular among the people of the black sea, or a scene form mythical story or event. Alt used a technique Page 145 called polychrome, combination of different colors specially the brilliant one in an artistic manner. Panel Painting There are paintings on flat panels of wood. It can be either a small, single piece or several pensioned together, Most of the panel paintings no longer exist because of its organic composition. The earliest Novak panel painting is the: Pitas panel (Archaic Period between 540 and 530 B. C,E,) Tomb / Wall Painting Tomb or wall painting was very popular duri ng the classical period. It uses the method frescos either tempera (water-base) or encrusting (wax). It has a sharp, flatly outlined style of painting and because it uses water-based materials, very few samples survived. Page 146 Tomb of the Diver, Pasture 480 BCC Image from Treasures of the World, 1961 ICP Library The image wastepaper using a true fresco technique with a limestone mortar. It depicts a symposium scene on the wall. In tomb paintings, artists rely on the shade and hues of paint to create depth ND life-like feeling- Paintings from the Romantic Era Most of the paintings in this era were copied or imitated from Hellenic Greek paintings. Fresco technique avgas used in brightly colored backgrounds; division of the wall into a multiple rectangular areas (tic-tact-toe design); multiplying perspective; and a trope-l-oil effect.

Journal Assignment free essay sample

As you reflect back on this budgeting assignment, what are the most personally important facts or concepts you learned? I learned that if you take more units, a full-time student, you will be able to save more. You can have lower student loans and be able to finish much faster. As a student, we need to consider and take full advantage of the grants and scholarships that is eligible and available to us. This helps towards our goal in paying off our student loans. 2. How does what you learned or realized relate to or impact your personal, educational, and career goals? What I learned and realized that education is important. We can’t avoid not having student loans ,but we can try to use as much as grants and scholarship as we can. We also need to keep in mind that we need to learn how to budget ourselves because we don’t want to end up paying high amount of payment every month. We will write a custom essay sample on Journal Assignment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page We need to save up and use our money wisely for necessities and not material things. When we finish school, we can then apply for jobs that is well in pay and can afford our everyday living. 3. Do you feel prepared to enter student loan repayment and understand how to get started? So far, I’ve been saving up money and putting aside extra income I receive from my paycheck. This also includes any refund I receive from my school and will use it to repay for my student loans. I am aware of how much interest there is to pay for my student loans and I know that I can begin repaying after 6 months I graduate, which is fair enough for me to find a job and get paid enough to pay for my student loan. 4. What money-related questions do you still have? How will you get the answers you need? So far, I don’t have money-related questions but I do know that I can reach and contact my financial advisor for any financial matters regarding my schooling. 5. How will you apply the lessons of this activity to your own life? The lessons I’ve learned from this activity is how to protect your credit. It is important to our own life because it’s good to establish good credit when we apply for other future loans such as home or car loans. Learning how to handle your money wisely can be a positive thing as we grow old and may need to use it when we retire. 6. With all these money matters in mind, what is your next financial step toward achieving your goals? The next financial step is to pay off my car loan and credit card debt. I will continue to pay because my student loan will add up to my debt . It is better to start paying early so I can pay all of my debt and save up for retirement.

Top 10 Websites for Book Lovers

Top 10 Websites for Book Lovers Top 10 Websites for Book Lovers Top 10 Websites for Book Lovers By Sharon There is something magical about reading books. Whether you like fiction or non-fiction, fantasy or sci-fi, there are many books out there. Still, it isn’t always easy to make a trip to the bookstore or library to find that specific book that you are looking for. If you find yourself itching for a new read, reviews, or discussion, here are 10 websites that every book lover should check out. 1. Goodreads Goodreads is one of the best websites for booklovers that want to read the latest reviews, interviews, feedback, and plot discussion. Look, most of us called R+L=J in â€Å"A Song of Ice and Fire.† All the clues were there, but if you didn’t, you could have easily have read that theory on Goodreads. Where are we going with this? You should use Goodreads if you want all the details about books, new and old, and want to discuss them with other likeminded individuals. 2. Project Gutenberg Who doesn’t love free books? Project Gutenberg is the oldest and largest collections of free books on the Internet. To date, it boasts well over 49,000 titles and it continues to grow each year. The project aims to publish all books that have surpassed their copyright dates. The website even caters to audiobooks fans seeing as it has a large collection of them readily available. 3. Amazon You might think this is a lame one to feature in a book lover’s list, but is it? Amazon completely changed the book market and made books more affordable and accessible. Sure, Barnes Noble had a warm vibe, but let’s not kid ourselves, they overcharged for their books. There is something special about ordering a book and having it delivered to your doorstep in 1-2 days. It is because of this that Amazon has been featured on this list. 4. Whichbook Whichbook won’t win any design awards, but it works. This website helps you choose what book to read next. Users can interact with several personality sliders to help them decide what book they should read next. The sliders include happy and sad, funny and serious, safe, and disturbing, gentle and violent, and many others. The website also offers other ways to help you screen news books. If you ever find yourself struggling to pick your next book to read, let Whichbook help you choose. 5. ReadPrint ReadPrint is a lot like the Project Gutenberg. It features a lot of free books that can be downloaded and accessed across all of your devices. Topics include classics like Shakespeare all the way to science fiction. 6. Google Book Search Google is considered the king of search. It shouldn’t come as a surprise that they would be featured on a list that is designed to help you find book-friendly websites. What makes Google Book Search neat is the fact that you can search for specific lines of text from a book and it will tell you various locations where you can buy it. Google’s database also features free works like books, magazines, journals, and various e-books. 7. Indie Store Finder Are you craving that small bookstore feel? Indie Store Finder is the perfect tool for any book lover that is located in the United States. Simply plug in your zip code and Indie Store Finder will provide you with a list of all nearby independent book stores. 8. AddAll.com Look, it’s perfectly fine to want to find the best price for the books you buy. Who wants to pay more, especially if you are buying a book that is mass produced? AddAll.com lets you compare books across the various major book retailers, helping you find one that is close to you and cheap. Users can search by title, shipping destination, price, and state. 9. Comics Alliance Comic books count as books, alright? They have the word book in their name. Jokes aside, the Comics Alliance is a great website for comic book lovers. It features the latest news, releases, opinions, merchandise, and much more. Comics Alliance really is the be-all-end-all of comic books. You’ll never be out of the loop when it comes to comic books if you bookmark this website. 10. Book Cover Archive While you should never judge a book by its cover, you can admire beautiful book covers for the art that they are. In our fast-paced world, it is important to slow down and admire true artistic beauty. The Book Cover Archive features thousands of book covers organized categorically by title, subjects, authors, and several other unusual categories. If you think we missed an important website, feel free to let us know below. We’d love to know what other websites exist out there for book lovers. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Book Reviews category, check our popular posts, or choose a related post below:Wether, Weather, Whether"Gratitude" or "Gratefulness"?5 Ways to Reduce Use of Prepositions

Income Tax and Corporation Tax in the United Kingdom Essay

Income Tax and Corporation Tax in the United Kingdom - Essay Example The paper tells that historically, taxation in Britain was collected from serfs who paid rent to their landlords in return for protection. However, in the 1600s, a unified land law was passed which vested control and power to the Crown. Land and property taxes were collected from each landowner to support the government. In the 1800s, income tax was introduced, first to support wars and eventually, to support the UK government's deficit. Currently, Her Majesty's Revenue & Customs (HMRC) is in charge of collecting taxes in the United Kingdom. There are several types of tax that are payable periodically by certain entities in the UK. They include Income Tax, Corporation Tax, Duties on goods and services, National Insurance Contribution, Value Added Tax and Fuel Duty. All these taxes have different laws and guiding principles. This tax is levied on the profits of businesses. Corporation tax is calculated on the annual income of a business. It was first introduced in the Finance Act 1965 . Corporation tax in the UK is currently regulated by the Income & Corporation Tax and its subsequent amendments. According to Sections 6 and 11 of the Income & Corporation Tax Act (ICTA), corporation tax must be paid by three main groups of entities: 1. UK resident companies. This include companies that are incorporated in the UK. 2. Non-resident companies in the UK carrying out trade through a permanent establishment and 3. Unincorporated bodies which are not partnerships that fall within the scope of the tax like societies and voluntary associations. Section 8 of the ICTA (1988) indicates that there are two types of profits that are taxed in the corporation tax (McLaughlin, 2011): 1. The worldwide income of a UK resident company. This includes all the earnings of all the operations of such a company around the globe. 2. For non-resident companies that have permanent establishments in the UK, corporation tax is levied on the income of the UK permanent establishment. The Act goes further to define 'profits' to include revenue or income from three main sources (McLaughin, 2011). The first is the revenue accrued from normal operations of the company. The second is capital gains which encompasses revenue from the sale of an asset in an accounting period. Finally, profits include investment income and revenue from dividends and other earnings from other investments. The term 'accounting period' comes with complications. Depending on the circumstances of a business, 'accounting period' can be an event that determines the commencement o r termination of trade like the start of business or the termination of business (Section 12). An accounting period is normally required to last for a period of 12 months. In most cases, the financial year begins on 1st April and ends on 31st March of every year. Where the accounting period overlaps this period, it must be apportioned appropriately and taxes are calculated as required. In 2011, the corporation tax was 26%. Companies that earn between ?50,000 and $300,000 will be subjected to a lower tax rate of 20%. There are some marginal reliefs that are calculated for companies that earn profits between ?300,000 and ?1,500,000. This marginal relief ensures that such companies pay between 20 and 26%. However, companies earning over ?1.5 million in profits have to pay the full 26% of corporation tax. Income Tax Income tax is on an individual's earnings. It is calculated annually. It applies when a person earns beyond a certain amount, this is known as 'taxable income' (HMRC Income Tax, 2012). There are some reliefs and allowances that are granted to individuals in order to