Similarities Between Communism And Communism - 1266 Words

Compare and Contrast Essay Since the development of human society, people have followed some form of leadership or abided by a government. Be it as simple as the rules of village elders or as abstract as the fear of divine punishment by their god, societies function under rules and laws which attempt to ensure the survival of their community. In modern history, civilizations have moved away from monarchies and feudal systems and into intricate large scale polarized governments. In this global community governments vary in their placement on the political spectrum. Two of these political theories which hail from the opposite reaches of the political compass are communism and fascism. Throughout history governments implementing these†¦show more content†¦Of course, this was not the case, since the government controlled all wealth, political officials and their friends became the new wealthy higher class. In fascist Germany, the road to equality was somewhat more sinister. Adol f Hitler’s plan for a classless society was the core of the Nazi ideology. To have a â€Å"perfect† society the Nazi’s believed that it must be made up of perfect individuals, whom they believed to be the Aryan race. Hitler’s solution of making Germany classless, was to terminate those who he believed to be the lower classes. In his pursuit of a purely Aryan society Hitler and the Nazis murdered millions of innocent Jews as well as many gypsies, homosexuals, Slavs, and others who didn’t fit the Nazi mold. Historically although fascists and communist both believed in reaching classless societies, the communist approach was to destroy wealth while the fascist destroyed what they believed to be the lower classes. Communism is often presented near anarchism on the political spectrum, yet historically and in theory communism, like fascism, it tends to be a totalitarian form of government. Marx believed to achieve true communism absolute control over the economy, education, and means of production were necessary. In Nazi Germany although capitalist, they consolidated power in the state to regulate large scale capitalism and industry. One of the Nazi’s most notorious practices was the indoctrination of Nazi propaganda andShow MoreRelatedCommunism And Communism Similarities804 Words   |  4 PagesTheir strong military, economy, and large amount of land and population. These two nations have many similarities and differences that effect their relationship and how other nations see them across the globe. One major trait they have in common in their governments political view, communism. Communism was seen as one of the biggest threats to the world once it swallowed China and Russia. Communism is â€Å"a theory or system of social organization based on the holding of all property in common, actualRead MoreAnimal Farm: Comparison to Communism970 Words   |  4 PagesGeorge Orwell, a new â€Å"political party† is created by the members of their animalian society, which is not only comparable to Communism in theory but also in execution. This so-called political party goes by the name of Animalism; a name that is reminiscent of Communism due to the pronunciation. There is far more to Animalism than the name that brings the thought of Communism to mind. The idea of Animalism (the name would come later from a different source) was brought forth by one of the oldestRead MoreCommunism And Communism In Arthur Millers The Crucible711 Words   |  3 PagesAccording to Mao Zedong , communism is not love. Communism is a hammer used to crush the enemy (â€Å"Communist†). Moreover, Communism is a political theory derived from the renowned philosopher Karl Marx. He believes that the government should divide the land equally, and pay people according to their abilities and needs (â€Å"Communism†). As the Cold War intensified in the 1950s, the hysteria of the perceived threat posed by communist became known as The Red Scare (â€Å"Red†). Similar to, in 1953, ArthurRead MoreChina Relations DBQ Essay814 Words   |  4 Pagesï » ¿Michael Mcgarty November 14th, 2014 6th Period AP World History Chinese peasant and Communism DBQ: Between circa 1925 and circa 1950, the relations between the Chinese peasants and the Chinese Communist Party became out of hand due to the peasant rebellions/uprising groups present, the tension between Japan and the communist party, and most notable the mass reform during this time period. In 1927 the rising leader of the Chinese Communist party was acknowledging that soon the upsurge of peasantRead MoreMarian Claro . Ms. Catena . English 9, Period 1 . January1044 Words   |  5 PagesMarian Claro   Ms. Catena   English 9, Period 1   January 5, 2016  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Communism Socialism:   Communism and Socialism are interchangeably used a lot, it s mostly because they are similar. They both want to promote equality to remove social classes from society. They also, have the same ideology. Communism and Socialism at first can sound very appealing with everyone in the community doing their duty and completing their responsibilities toward the same communalRead MoreComparing The Way Of Adolf Hitler, A Fascist Dictator, And Joseph Vissarionovich Stalin1629 Words   |  7 PagesTo analyze the differences in the way Adolf Hitler, a fascist dictator, and Joseph Vissarionovich Stalin, a communist dictator, controlled their countries and made political decisions, we have to learn what Fascism and Communism are. We must also look at how Hitler and Stalin came to power, as well as how they controlled their government. Starting with Fascism, it is basically when the state is the supreme power. Nothing gives orders above the state, and the state gives all orders. It is a strongRe ad MoreRed Scare And The Crucible Comparison Essay1008 Words   |  5 PagesThe Red Scare and The Salem Witch Trials were both events that left a mark in American history. The Red Scare began in 1917 and took place across the United States. The Red Scare was known as the widespread promotion of anti-communism. The Salem Witch Trials began in 1692 and took place in Salem, Massachusetts. The Salem Witch Trials were various court hearings and prosecutions of people in Salem accused of Witchcraft. Arthur Miller wrote The Crucible, a play about The Salem Witch Trials, to sendRead MoreDevry Hist410 Midterm Exam729 Words   |  3 Pages Use historical examples to support your answer. In what ways did these revolutions radically change Russian society? Question 3. Question : (TCO 5, 11) Compare and contrast German Nazism and Stalin’s Soviet Communism (Stalinism). What were the similarities and differences between these two political ideologies? Use historical examples to support your answer. Question 4. Question : (TCO 5, 11) Compare and contrast the empires of Germany and Japan before the outbreak of World War II. IdentifyRead MoreThe Dancer, By Ahmad Tohari And The Memoir1375 Words   |  6 PagesSoutheast Asia. Although, both the novel and the memoir exam the treatment of the people on the local level they also examine the effects of the struggle between communism and capitalism on the larger global level. While the memoir is based in the country of Cambodia and the novel is based in the country of Indonesia, they both have astronomical similarities. For starters, both of the writings begin by following one man throughout his life and ends with their place in the cold war era predicament. For exampleRead MoreCommunist Manifesto : Understanding Today s World1429 Words   |  6 PagesCommunist Manifesto in Understanding Today’s World Introduction What is Communism? How has Communism shaped the today’s world as it is? Is Communist Manifesto still applicable in the current world? Karl Marx and Fredrich Engels published the Communist Manifesto in 1848, and the manifesto had a great influence on the world history that the world would be a different place if the manifesto would not have been published. In this paper, I will summarize the arguments made in the manifesto to help the

Child Development Course Reflection Essay - 1730 Words

Over the past eight weeks this class has not only fulfilled my major requirements, but also made me understand more about the complexity of child development and how I can become a better person as a future parent and educator. Since I am an Education major, the four topics that would benefit me in the future are Erikson’s stages, Induction, Educational Self Fulfilling Philosophy, and Adolescence. I plan to be successful with my career and use what I have learned in Child Development to prepare future’s leaders of tomorrow. Initially, Erikson’s stages described a child’s developmental growth during each period. Learning about Erikson and the limitations of each period made me realize that one has to treat separate children†¦show more content†¦Inferiority stage which also contributes to learning disabilities. I learned that a teacher can not automatically jump to conclusions whenever a student has trouble learning, thus labeling that child with a disease such as ADHD, dyslexic, etc. The best option to do in this situation is to address what are the causes and what can be done to help this child succeed, because every student regardless of disability has the right to be successful in life. There has to be other reasons that cause a student not being able to learn such as laziness, depression, family troubles etc. A teacher does not have the right to point the finger at the child for learning problems. If one does, it shows that the teacher is lazy and unwilling to help studen ts when they need it the most. Teachers have to do whatever is necessary to make that students feel they can succeed whatever situations are in the way. Learning about Industry vs. Inferiority prepared me to be a better future educator, thus doing whatever I can to make that student successful. It also made me realize that labeling students with defective disorders is not the right way to handle problems. People might say that words are meaningless, but if students are labeled with these names it will cause severe psychological problems later on in life. Furthermore, a topic that is along these lines is induction techniques. Before this class, I learned that being an authoritarian was the worst parenting style anyone canShow MoreRelatedChild Observation: Middle Childhood1388 Words   |  6 PagesCHILD DEVELOPMENT CHART: MIDDLE CHILDHOOD (7-11 years) Early Childhood Development YOUR CHILD DEVELOPMENT CHART: MIDDLE CHILDHOOD (7–11 YEARS) SECTION 1: MAJOR DEVELOPMENTS | |[pic] [pic] | |BIOSOCIAL |Brief Description of Example Read MoreMy Effective Practice1197 Words   |  5 Pageschildren making play dough, which I planned would incorporate mathematical areas of development including: numbers as well as space, shape and measurements. The aim of this exercise was for 4 children to be able to measure out different amounts of ingredients and gage as a group the quantities which may be needed to rectify any problems i.e. if the dough is too sticky how many more Tbl sp of flour may be needed. Upon reflection of this activity needed to be improved in several areas. This was an activityRead MoreChild Development Reflection Paper1332 Words   |  6 PagesCourse Reflection In this course, I have learned theories of child development, principles of growth and development, prenatal development, infancy, toddlerhood, three-four-and five years old, six-seven-and eight years old, middle childhood, adolescence: thirteen to nineteen years old, and where and when to seek help. I really enjoyed the adolescence: thirteen to nineteen years old chapter the most because, people tend to forget that even though they in high school their brains are still growingRead MoreAdolescent Relationships with Parents and Peers Essay examples1380 Words   |  6 Pagespositive self-image in which a person feels good about him or herself in a variety of areas that either promote or discourage positive relationship between adolescents and their respective parents. The evidence of the changes in peer and parent-child relationships during early adolescence suggests that early adolescence is a critical period of transformation in childrens relationships. Early adolescents may orient toward peers while distancing themselves from their parents because their peer relationshipsRead MoreThe Professional Development Of A Teacher1631 Words   |  7 Pagesmust also be competent in knowing how and knowing when† (Calderhead and Shorrock 1997) The professional development of a teacher is a lifelong process beginning with initial teacher training and continuing throughout the entire career of a teacher. In basic terms teacher development is described as continuous teacher training. However, I find the following description of the professional development of a teacher much more satisfying. â€Å"The professional growth a teacher achieves as a result of gainingRead MoreProfessional Development Of An Effective Teacher1432 Words   |  6 PagesThere are many factors involved in the professional development of an effective teacher. Drawing on relevant literature, identify and explain four key aspects that are important for teacher development. Thinking about your own professional development, select your personal priority from these four aspects and provide justification for your choice. As an aspiring teacher I feel that it is extremely important to recognise that good teaching methods have a significant positive impact of how studentsRead MoreThe Profession Of Teaching : Candidate Self Evaluation Essay1544 Words   |  7 Pagesthe mission of the Department of Teacher Education is to educate scholar practitioners who build community, engage in critical reflection, and embrace diversity for the promotion of social justice. Our department’s theme â€Å"Teacher as Reflective Decision Maker in a Pluralistic Society† embodies the tenets of our mission statement and enables us to continue our development of distinctive graduates in all program areas. At the conclusion of EDT 110, teacher education candidates are responsible for performingRead MoreReflection Of The Multisystem Family Course1419 Words   |  6 PagesReflection of the Multisystem Family Course The purpose of this reflection paper is portray the knowledge that I have learned throughout this semester regarding the multisystem utilized to identify traits and behaviors associated with the assessments of family members. Marta Lundy’s article gave a brief history of theoretical integration as she describe a multi-systemic, multi-theoretical integrative model for social work practice, even though each reading assignment was associated with a movieRead MoreThe Role Of A Teaching Philosophy Statement1408 Words   |  6 PagesThe Role of a Teaching Philosophy Statement (TPS) Personal development is one aspect of gaining new information to enhance skills, abilities and overall knowledge. The development of a TPS, is a personal analysis of general concepts of teaching, learning, observations and experiences, transferred into the learning environment (Caukin, 2017). Consequently, the statement is intimate, insightful, with an inclusion of personal views of the aspects of teaching, foundation of learning, in addition toRead MoreCritical Aspects Of Social Work Essay1496 Words   |  6 Pagesme while doing this course and before has made me realize that social work is harder than I thought it would be. There are many critical aspects of social work that help us work with clients. One of the biggest things that have stood out for me was that helping people is more complicated than I thought there are so many critical things in the process that work to help others. Therefore it is not as easy as I expected it would be. The main reasons that I wanted to do thi s course was because I ultimately

Shakespeares Use of Soliloquy To See Characters Thoughts...

William Shakespeare uses the literary technique of the soliloquy to allow the audience to see deeper into his characters’ thoughts in his play, Hamlet. This technique helps to reveal Hamlet’s true character, expressing emotions that the audience cannot see through his interactions with other characters. Through Hamlet’s soliloquies, one may notice that his reluctance to take actions that involve death can be attributed to his fear of the unknown and his uncertainty in regards to afterlife. Even though Hamlet seems ardent in his intentions of avenging his father’s death during his encounter with the Ghost, by the second act, Hamlet begins to doubt that the ghost was actually his father. While giving his soliloquy after he has seen†¦show more content†¦Hamlet’s lack of knowledge of the afterlife, along with his inability to wrap his mind around a solid belief of what it entails, leads his fear of the afterlife to go beyond his doubt in the Ghost and result in him deciding against suicide. In what is possibly his most famous soliloquy beginning â€Å"To be, or not to be: that is the question,† (3.1.68) Hamlet’s question is referring to life. He is debating whether or not he should commit suicide. Despite his pain and suffering, Hamlet does not carry out his suicide as a result of not knowing what the afterlife will entail. The ghost had referred to purgatory as a prison, which naturally does not make it appeal to Hamlet. However , he is not even certain of the ghost’s existence, so the ghosts description of purgatory is not necessarily a reliable account. Hamlet is unsure of what will happen in the afterlife and is not comfortable with the fact that he cannot guarantee it will cause him to be happier than he is on earth. He is aware of his lack of knowledge in regards to the after life and since he cannot guarantee what it will entail, his fear of it prevents him from entering it before his time has come. This is shown when he states that the fact that one cannot predict what the afterlife involves â€Å"makes us rather bear those ills we have than fly to others that we know not of?† (3.1.81-81) Since Hamlet is unsureShow MoreRelatedUse of Soliloquies in Hamlet Essay941 Words   |  4 PagesA soliloquy is a speech in a play that is meant to be heard by the audience but not the other characters on the stage. In the play Hamlet by William Shakespeare, the use of soliloquies allows the audie nce to know what the characters are feeling and what their pure motives are. They are also able to hear the characters’ thoughts directly. The character’s secrets are revealed only to the audience which gives way for irony to take a part in the play. Shakespeare uses soliloquies throughout the playRead MoreHamlet Soliloquy1530 Words   |  7 Pagestime. In his plays, Shakespeare includes soliloquies, as they offer insight into the character, which cannot be done using dialogue. In Shakespeare’s Hamlet the seven soliloquies serve as the pillars of the play, the soliloquies introduce Hamlet’s character but also develop his character’s madness. Shakespeare’s use of blank verse, repetition, allusions and metaphors show that Hamlet is mentally unstable from the beginning of the play. Hamlet’s first soliloquy in Act One Scene Two is his fourth longestRead MoreHamlet1304 Words   |  6 Pagesincest, and suicide, William Shakespeare’s Hamlet was remembered by many Elizabethan Era viewers as both a philosophical and oft-debated masterpiece (Dickson). These controversial themes attracted viewers everywhere, enticing them to see the play. One scene in particular from the original text of the play where this proves true is act IV, scene iv, lines 31-65, in which the titular character Hamlet decides that the time for revenge is at hand in an insightful soliloquy. The audience would have beenRead MoreHamlet Character Essay1189 Words   |  5 PagesThe Troubled Prince: An Analysis of Hamlet â€Å"To be, or not to be: That is the question†(3.1.58). This is probably the most famous quote in all of Shakespearean literature and was uttered by the main character, Hamlet, of the play â€Å"Hamlet† written by Shakespeare. It demonstrates his instability and suicidal thoughts. Throughout the play he comes off as a very unpredictable and complex character. He makes many rash decisions, but at the same time often takes a lot of time to contemplate many of hisRead MoreRevenge By William Shakespeare s Hamlet882 Words   |  4 PagesIn Shakespeare’s Hamlet, it is very evident that hatred and a thirst for revenge can turn people into something that they are not. Many characters throughout this story exemplify this, but the main two are Hamlet and Laertes. This theme of revenge is established throughout the whole play and it acts as a vital character. Revenge is seen as a cause for many outcomes. Hamlet pursues revenge on Claudius to avenge his father s death. Ge rtrude is targeted by Hamlet for wedding Claudius too quickly afterRead MoreShakespeares use of soliloquies to present Macbeth and Hamlet2032 Words   |  9 PagesShakespeare use soliloquies to present the characters of Macbeth and Hamlet? A soliloquy is a comprehensive and unremitting dialogue spoken by a single person. The speaker is presenting his or her thoughts audibly, thus providing a forthright, outspoken, unremitting, and uninterrupted flow of thought, which channels his or her consciousness directly to the audience. Shakespeare uses soliloquies to present the characters of Macbeth and Hamlet in speckled ways; the soliloquies define the thoughts and feelingsRead MoreHamlet - Soliloquies Essay1481 Words   |  6 PagesHamlet In Shakespeares Hamlet, the tragic hero reveals his inner conflicts and introspective attitude in each of the lengthy soliloquies in the play. Hamlet is a static character whose thoughts never dramatically change. Each soliloquy delves further into Hamlets motivations, or lack thereof, and psyche. Each soliloquy, each slightly different, is all united by vivid imagery, introspective language, and discussion of Hamlets delay of action. The first soliloquy serves to set the stage for theRead MoreHamlet : Sadness, Madness, Or Just Misunderstood1053 Words   |  5 PagesHamlet: Sadness, Madness, or Just Misunderstood At best, I believe that Act I, Scene II might be one of the most important parts of Hamlet. It prepares any reader with the character’s styling of Hamlet, its importance to the play, its characters, and the logical play on words to show the complexity of Shakespeare’s skills as a playwright. Though, it might be a bit of over-aggrandizing to say that the first Act and second scene could be so crucial. It set the tone of the play for many of the charactersRead MoreWilliam Shakespeare s The Spanish Tragedy 2479 Words   |  10 Pageshow Thomas Kyd’s ‘The Spanish Tragedy’ follows the traditional techniques we typically assume will be in a revenge tragedy, and how Shakespeare’s ‘Hamlet’ follows these conventions as well as how Hamlet sometimes challenges the typical conventions of revenge tragedy plays and pushes them. I will also discuss the notion of revenge, as well as discuss how the two plays use the conventions of the genre to promote different ways of thinking about the ethics of revenge. Revenge tragedy was a popular genreRead MoreEssay on Perception of Women in William Shakespeares Hamlet1309 Words   |  6 PagesPerception of Women in William Shakespeares Hamlet In Hamlet, Shakespeare carefully represents Getrude and Ophelia. Individually, Gertrude is essentially seen as weak and immoral whilst Ophelia is seen as meek and a victim of society. Collectively, they are seen to fulfil a conventional 16th century role, and it is as our beliefs and views of women change that we are able to perceive the characters in a different angle. At the beginning of the play, we get a very

Tactical and Strategic Intelligence Felicia & Fred

Question: Understand at a deeper level the economic analysis of strategic and tactical investments, the effect financial leverage has on firm value, and the integration of investment and financial corporate strategies Analyze issues that face modern corporate managers when making capital budgeting and capital structure decisions Apply finance valuation techniques for purposes of business decision making Integrate, synthesize, and present finance concepts and analyses Be able to use the corporate finance tools necessary to develop the skills, knowledge, and wisdom (SKW) in current demand by employers Understand the qualities needed for careers such as corporate managers, financial analysts, investment analysts, brokers, and business practitioners. Answer: Introduction Felicia Fred is a public company of US which deals with manufacturing of jewelry. The company has previously expanded its capacity and included Czech crystal bracelet in its product line. This year the company has included womens accessories, specially the handbags in its product line. These products are outsourced by the company to a manufacturer in Asia through a licensing agreement. The manufacturer has exclusive rights to Felicia Freds women logo handbags so that the company can preserve the intellectual property and branding rights in the United States. The company has also increased its investments in the inventory. With the increase in product line the company anticipates that the demand of the product will increase and it will require additional storage space to meet the demand of its customers. Abstract The difference between strategic and tactical decision making Strategic decision making and tactical decision making are two different ways used in a business to take decisions. The major difference between the two is time oriented. The difference between strategic and tactical decision making is that strategic decision making deals with the planning and taking educated decisions regarding the future problems of the company whereas the tactical decision making deals with the problem faced by the company at present and taking steps to overcome that problem. The strategic decision making allows the companys decision makers to forecast the future direction of the company and identify emerging trends and markets for the company. They can plan the future problems and based on the forecasted results of the projects decide whether to go ahead with the projects or close a project. The tactical decision making deals with the current problems and uses the current market conditions to analyze the situation and competition and then decide the actions to be taken to achieve its goals. It focuses on the resources at hand and focuses on ways to achieve the strategic goals. The planning and decision making involves the challenges and risks in carrying out the strategic goals. The decision by the company Felicia Fred to expand the business and enter the handbag distribution business is strategic in nature. The company has previously expanded its capacity and included Czech crystal bracelet in its product line and inclusion of the other womens accessories, specially the handbags makes perfect sense and allows the company to provide more variety of products to the same customer base and increase its sells and profits in the long run. It also provides a new direction to the company which is moving from a jewelry manufacturing company to manufacturer of accessories for women and can be a one stop solution to all the requirements of the customers. Thus without having to increase the expenditure in marketing and advertisement the company can sell various products and is a perfect strategic product line extension. Thus the decision of entering the handbag distribution business is strategic. (Owang, 2013) The indicators of financial performance used in evaluating whether an investment has successfully increased shareholder wealth of company are Profitability ratios: Profitability of a company is the capacity of the company to make profits. In a business, if the investments by the company are able to generate profits then the investment is considered successful. The various Profitability ratios like gross margin ratio, return on equity, return on investments etc. gives a good idea whether the company has been performing better than the competitors in the industry. Liquidity ratios: The Liquidity ratio helps the investor find if the company can cover its debt: long term and short term and helps to boost confidence among investors and suppliers. The various Liquidity ratios like current ratio, quick ratio and cash ratio helps in determining whether the company has been able to cover its liabilities and helps in gaining the trust of the investors and other stakeholders. Efficiency ratios: The efficiency ratio helps investor to find if the company can use its resources and make profits efficiently. The various Efficiency ratios like total assets turnover ratio, fixed assets turnover ratio helps the investors understand how efficiently the assets have been utilized by the company. (Chand, 2015) The cash flow statement, inventory turnover ratio and accounts receivable turnover ratio are other indicators of financial performance used in evaluating if the investment has been successful in increasing shareholder wealth of company. Financial Trend Analysis Liquidity Ratios of the firm: The Liquidity ratio helps the investor find if the company can cover its debt: long term and short term. Current ratio: Current ratio is the ability of a company to pay its current liabilities using the current assets. It is given by Current Assets/ Current Liabilities. (Current Ratio) In the prior year, Current Assets = 29 M Current Liabilities = 22.4 M Thus current ratio = 29/ 22.4 = 1.29 In the current year, Current Assets = 40.9 M Current Liabilities = 36.2 M Thus current ratio = 40.9/ 36.2 = 1.13 The current ratio has decreased from the previous year. Hence the company will not be able to clear its current liabilities as efficiently as it did last year. The investment in handbags has reduced the current assets. Inventory Turnover ratio: Inventory Turnover ratio shows number of times a companys inventory is sold and replaced in a time period. It is given by Inventory Turnover = Sales/ Inventory In the prior year, Sales Revenue = 950 M Inventory = 13 M Thus Inventory Turnover ratio = 950/ 13 = 73.08 In the current year, Sales Revenue = 975 M Inventory = 24.2 M Thus Inventory Turnover ratio = 975/ 24.2 = 40.29 The inventory turnover ratio has decreased from the previous year. Hence the company has increased its inventory and is unable to rotate its inventory as quickly as it did last year. The investment in handbags has reduced the inventory turnover ratio and increased inventory. Accounts receivable turnover: Accounts receivable turnover shows the number of times the company collects its receivables from its credit customers. It is given by Accounts receivable turnover = Net Credit Sales/ Average Accounts receivable In the prior year, Sales Revenue = 950 M Average Accounts Receivable = 4.6 M Thus Accounts receivable turnover ratio = 950/ 4.6 = 206.52 In the current year, Sales Revenue = 975 M Average Accounts Receivable = (4.7 +4.6) /2 M = 4.65 M Thus Accounts receivable turnover ratio = 975/ 4.65 = 209.68 The accounts receivable turnover ratio has increased from the previous year. Hence the company has improved its collection method and is able to quickly collect the receivables compared to the last year. Solvency Ratios of the firm: The Solvency Ratios of a firm is used to measure its ability to meet its long term debt. Debt to Equity ratio: Debt to Equity ratio of a firm is used to measure the ratio of financing of the company using debt from creditors and investments from the investors. It is given by Debt to Equity ratio = Total liabilities/ Total Equity In the prior year, Total liabilities = 109 + 36.2 M = 145.2 M Total Equity = 169.1 M Thus Debt to Equity ratio = 145.2/ 169.1 = 0.86 n the current year, Total liabilities = 200 + 22.4 M = 222.4 M Total Equity = 126.6 M Thus Debt to Equity ratio = 222.4/ 126.6 = 1.75 The Debt to Equity ratio has decreased from the previous year. Hence the company has reduced the debt and raised more investment from the investors. Thus the company was able to generate investment from the investors for the new product line of handbags. C Profitability Ratios of the firm: Profitability of a company is the capacity of the company to make profits. Gross profit margin: Gross Profit Margin is defined as Gross Profit/ Sales. It is used to calculate the profit earned by the company after removing the cost of goods sold per unit of sales. (Chand, 2015) In the prior year, Gross Profit = (950 801) M = 149 M Sales = 950 M Thus Gross Profit Margin = 149/ 950 = 0.15 In the current year, Gross Profit = (975 779.3) M = 195.7 M Sales = 975 M Thus Gross Profit Margin = 195.7/ 975 = 0.20 The Gross Profit Margin has increased from the previous year. Hence with the introduction of handbags the companys gross profit margin has increased. Thus the company is able to generate more profits from the investment in the new product line of handbags. Net Profit Margin: Net Profit Margin is defined as Net Profit/ Sales. It is used to calculate the profit earned by the company per unit of sales. A higher profit margin ratio is preferred as the company will have more revenues to pay its expenses.(Chand, 2015) In the prior year, Net Profit = 13 M Sales = 950 M Thus Net Profit Margin = 13/ 950 = 0.014 In the current year, Net Profit = 52.5 M Sales = 975 M Thus Net Profit Margin = 52.5/ 975 = 0.054 The Net Profit Margin has increased from the previous year. Hence with the introduction of handbags the companys net profit margin has increased. Thus the company is able to generate more profits from the investment in the new product line of handbags. Return on Equity: Return on Equity is given by Net Profit/ Shareholders equity. It calculates the profit earned per unit of investment by the shareholders. In the prior year, Net Profit = 13 M Shareholders Equity = 126.6 M Thus Return on Equity = 13/ 126.6 = 0.103 In the current year, Net Profit = 52.5 M Shareholders Equity = 169.1 M Thus Return on Equity = 52.5/ 169.1= 0.31 The Return on Equity has increased from the previous year with the introduction of the handbags. Integrate Prior Financial Analysis With the inclusion of the Czech crystal bracelet in the product line in the prior year the net profit of the company was 13 Million. Gross Profit Margin = 149/ 950 = 0.15 Net Profit Margin = 13/ 950 = 0.014 The gross profit margin of the company was 15% and the net profit margin was 1.4%. Thus it can be seen that the inclusion of the Czech crystal bracelet in the product line made the business profitable. Assuming that in the current year the only change affecting the companys product line sales was the inclusion of the handbag product line. The profits have increased from 13 Million to 52.5 Million. In the current year, Gross Profit Margin = 195.7/ 975 = 0.20 Net Profit Margin = 52.5/ 975 = 0.054 The profits margins have improved compared to the prior year. Thus the inclusion of this product line enhance gross margin for the company. Long-Term Financial Planning The companys sales are projected to grow by 10% next year. Assuming that the increase in sales, will result in increases of all the income and expenses at the proportionate level. Thus the forecasted income statement will be Felicia Fred Income Statement For the Next Period Ended 000s next Revenue: 1,072,500 Less: Cost of Goods Sold (795,960) Less: Depreciation Expense (61,270) Gross Margin 215,270 Selling, General Administrative Expenses (64,020) Income Before Interest Taxes 151,250 Interest Expense (16,500) Income Before Taxes 167,750 Income Taxes (77,000) Net Income 90,750 Similarly, the balance sheet of the next year Felicia Fred Balance Sheet For the Next Period Ended 000s Assets next Cash 13,200 Accounts Receivable 5,200 Inventory 26,600 Total Current Assets 45,000 Land 55,000 Building Equipment 660,000 Less: Accumulated Depreciation - Building Equipment (413,200) Total Long Term Assets 301,800 Total Assets 346,800 Liabilities and Stockholders' Equity Accounts Payable 10,100 Salaries Payable 0 Interest Payable 1,550 Short Term Notes Payable 3,500 Taxes Payable 11,000 Total Current Liabilities 26,150 Bonds Payable 109,900 Total Long Term Liabilities 109,900 Common Stock 120,000 Retained Earnings 90,750 Total Stockholders' Equity 210,750 Total Liabilities and Stockholders' Equity 346,800 Thus the net profit of the company will increase to 90.75 Million by the end of next year if the sales increase by 10 %. The external financing required by Felicia Fred next year will be the total liabilities of the company next year and investment from the shareholders. Total liabilities = Total current liabilities + total long term liabilities = 26.15 + 109.90 Million = 136.05 M. Additional investment from the shareholders = 210.75 169.1 M = 41.65 M The company already has an external financing of 146.1 M. Additional Total external financing required for next year = 31.6 M Qualitative and Ethical Considerations of Financial Analysis The qualitative factors that should be considered by a company seeking to raise capital are: Company Culture: The managers must consider the working culture of the company and the impact of the capital investment on the method the work is executed in the organization. With the investment in technology the flow of goods and information can be improved and changes the method of working the employees are used to. Due to Financial leverage the risk is higher and the business environment can be stressful than before. Thus it is an important factor and managers must take necessary steps to increase efficiency of the company with the capital investment. Quality of product and service: The capital investment can help company be able to have increase in capacity to produce deliver goods and services to larger target audience. The company should take proper care that with the capital investment, the quality of the goods and services should not be decreased with the additional pressure on employees to have a farther reach and increased risk in business can cause the quality to reduce. Working Environment Issues: The manager should consider the effect of capital investment on the environment which includes safety of the employees, effect on the working environment of the company and control the pollution which it causes taking it consideration all the stakeholders of the company. With the increase in debt, the financial leverage of the company will increase. If the financial leverage of the company is high the cost of capital will increase as the lenders will be concerned about the future growth of the company as investment of the equity of the company is low which increases the risk of the firm. Thus the company will be more careful in choosing projects and will avoid projects which are risker and can increase the risk of the business further. (The Agency Problem) If the cost of capital increases the shareholders are less likely to accept projects as the net profits are reduced whereas if the cost of capital decreases the shareholders are more likely to accept projects as the net profits are increased with reduced interest. The shareholders must be concerned about the ethics of managers selection processes because if the managers are ethical they will not choose projects for personal benefit and will take into consideration the benefits of all the shareholders. The qualitative considerations that are important for the mitigation of agency conflicts are Greater Compensation: If the managers are paid highly for their work they are less likely to work for personal benefits and will reduce agency problems. Intervention by shareholders: The shareholders should have a look at the projects and analysis the reports by managers before acceptance of capital projects. Threat of firing: The shareholders should have strict policies in place and should remove the managers if they find him working for personal benefits instead of benefits for the form. The different types of monitoring costs are: Cost of Board of directors, cost of issuing financial statements, and employee stock options. The monitoring activities should have meetings of the shareholders with the management and discussing the availability of funds for projects and various benefits of the projects to the shareholders. The firm should also publish financial statements so that shareholders can check the financial health of the company regularly. (The Agency Problem) The company must have transparent decision making process so that the managers cannot have projects for their personal benefits and the company should provide them better compensation, and regularly monitor the decisions to ensure ethical project investment decisions References Owang, J. (2013). Major Differences Between Tactical and Strategic Intelligence. Retrieved 30 July, 2016, from https://www.web-strategist.com/blog/2013/01/14/the-difference-between-strategy-and-tactics/ Leadcapitalng. (2012). The financial characteristics of a successful company. Retrieved 30 July, 2016, from https://leadcapitalng.wordpress.com/2012/02/08/the-financial-characteristics-of-a-successful-company/ Limbacher, M. (2015). Seven qualitative factors for evaluating investments. Retrieved 30 July, 2016, from https://www.fi360.com/blog/post/seven-factors-for-qualitative-due-diligence Investopedia. The Agency Problem. (n.d.). Retrieved 30 July, 2016, from https://www.investopedia.com/walkthrough/corporate-finance/1/agency-problem.aspx Chand, S. (2015). Ratio Analysis: Meaning, Classification and Limitation of Ratio Analysis. Retrieved 30 July, 2016, from https://www.yourarticlelibrary.com/financial-management/ratio-analysis-meaning-classification-and-limitation-of-ratio-analysis/29418/