...Quinniece Garrett Individual: Pro Forma Statements Comprehensive Problem: Landis Corporation The Landis Corporation had 2008 sales of $100 million. The balance sheet items that vary directly with sales and the profit margin are as follows: Percent Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5% Accounts receivable. . . . . . . . . . . . . . . . . . . . . . 15 Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Net fixed assets . . . . . . . . . . . . . . . . . . . . . . . . . 40 Accounts payable . . . . . . . . . . . . . . . . . . . . . . . 15 Accruals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Profit margin after taxes . . . . . . . . . . . . . . . . . . 6% The dividend payout rate is 50 percent of earnings, and the balance in retained earnings at the end of 2008 was $33 million. Common stock and the company’s long-term bonds are constant at $10 million and $5 million, respectively. Notes payable are currently $12 million. A- How much additional external capital will be required for next year if sales increase 15 percent? (Assume that the company is already operating at full capacity.) B- What will happen to external fund requirements if Landis Corporation reduces the payout ratio, grows at a slower rate, or suffers a decline in its profit margin? Discuss each of these separately. C- Prepare a pro forma balance sheet for 2009 assuming that any external funds being...
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...|[pic] |Course Syllabus | | |Albert Schweigert | | |FIN/200 | | |Introduction to Finance: Harvesting the Money Tree | Copyright © 2009, 2008, 2007 by University of Phoenix. All rights reserved. Course Description This course gives students an overview of finance concepts, terminology, and principles. It is an introduction to the role of finance in the business world. Topics covered include the relationship between finance and accounting, basic financial analysis and planning techniques, financial ratios, profit, cash flow, and sources of business financing. Policies Students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies...
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...CHAPTER ONE INTRODUCTION There are various factors that contribute to the rising workplace diversity. These include increasing numbers of immigrants, company mergers and joint ventures in different countries, increased engagement of business consultants and temporary employees, international competition and the phenomenon of globalization, which has transformed the world into a global village. Globalization has occurred because of a combination of factors such as improved infrastructure, advancements in technology. Infrastructure and technology have not only provided cheaper means of communication and travel, but have revolutionized the speed at which individuals and businesses communicate with each other. Domestic companies are also spreading their operations to new territories across the globe in search of new markets or outsourcing some aspects of their production process. Management of employee cultural diversity, through the integration of suitable strategies plays a key role in improving the competitive advantage of the business, especially on the global platform. Globalization calls for specific approaches that promote harmonious working relationships within increasingly culturally diverse workplaces. Hansen (2002) observes that workplace diversity is critical to the existence of businesses and identifying key strategies to ensure harmonious working relationships among culturally diverse employees is integral to the survival of any business. Diversity in this case...
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...Investment Banking: Past, Present, and Future by Alan D. Morrison, Saïd Business School, University of Oxford and William J. Wilhelm, Jr., McIntire School of Commerce, University of Virginia investment banks are changing fast. Forty years ago the industry was dominated by a few small partnerships that made the bulk of their income from the commissions they earned floating securities on behalf of their clients. Today’s investment banks are huge full-service firms that make a substantial proportion of their revenues in technical trading businesses that started to attain their current prominence only in the 1980s. The CPI-adjusted capitalization of the top ten investment banks soared from $1 billion in 1960 to $194 billion in 2000. Between 1979 and 2000, the number of professionals1 employed by the top five investment banks (ranked by capitalization) rose from 56,000 to 205,000.2 The enormous upheavals documented in the previous paragraph raise a number of difficult questions. What have the investment banks of today got in common with their predecessors? Is it possible to draw any meaningful parallels between businesses that today call themselves investment banks and the investment banks of 20, 40, or even 100 years ago? What is the source of the recent changes to the investment banking landscape, and can we say anything about the likely future direction of the industry? These questions point to a more fundamental one: namely, if investment banks did not exist, would we need to invent...
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...Journal of Cross-Cultural Psychology http://jcc.sagepub.com Value Hierarchies Across Cultures: Taking a Similarities Perspective Shalom H. Schwartz and Anat Bardi Journal of Cross-Cultural Psychology 2001; 32; 268 DOI: 10.1177/0022022101032003002 The online version of this article can be found at: http://jcc.sagepub.com/cgi/content/abstract/32/3/268 Published by: http://www.sagepublications.com On behalf of: International Association for Cross-Cultural Psychology Additional services and information for Journal of Cross-Cultural Psychology can be found at: Email Alerts: http://jcc.sagepub.com/cgi/alerts Subscriptions: http://jcc.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Citations (this article cites 23 articles hosted on the SAGE Journals Online and HighWire Press platforms): http://jcc.sagepub.com/cgi/content/refs/32/3/268 Downloaded from http://jcc.sagepub.com at KAIST GRADUATE SCHOOL OF MGMT on October 22, 2007 © 2001 SAGE Publications. All rights reserved. Not for commercial use or unauthorized distribution. JOURNAL OF CROSS-CULTURAL PSYCHOLOGY Schwartz, Bardi / CROSS-CULTURAL VALUE SIMILARITIES Beyond the striking differences in the value priorities of groups is a surprisingly widespread consensus regarding the hierarchical order of values. Average value hierarchies of representative and near representative samples from 13 nations exhibit...
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...chapter Eric Futran/Foodpix/Jupiterimages In the SPOTLIGHT Leidenheimer Baking Company http://www.leidenheimer.com andy Whann is the fourth generation of Leidenheimer men to run [the Leidenheimer Baking Company], which was founded in 1896 in the city of New Orleans by Sandy’s greatgrandfather, George Leidenheimer of Germany. The bakery produces French bread made famous by traditional local dishes like the muffaletta and po boy sandwiches that originated in the heart of the French Quarter. As a lifetime citizen of New Orleans, Sandy has experienced many evacuations and has become adept at hurricane planning through the years. When the hurricane alert [for Katrina] was issued on Saturday, August 27, 2006, this veteran immediately put his family emergency plan into effect as his wife and two children prepared to leave the city. Sandy remained near the plant to keep a close eye on his 110-year-old company and keep production working at a minimal capacity. With his family out of the city, Sandy uncharacteristically decided to shut the bakery down, secure its exterior, gas lines and doors and encouraged his employees to prepare their own homes and loved ones for the storm and potential evacuation. Both Sandy and the Leidenheimer management team keep home phone numbers and emergency evacuation contact information for all employees. 23 LOOKING AHEAD Managing Risk in the Small Business S After most of his employees had left, only Sandy, his plant manager, and chief engineer...
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...COMPREHENSIVE EXAM QUESTIONS IN RESEARCH METHODS(1) 1. PHILOSOPHY, LOGIC AND ETHICS OF SCIENCE A) General A1. A2. A3. Starbuck has suggested that "the properties shared by all organizations ought to be uninteresting TH and unimportant." He also notes that "although statements about averages bother very few, they ought to bother many" (Journal of Management Studies, vol. 30(6), 1993). Do you agree with these statements? If so, why, and what are the implications of your beliefs for research methods in strategic management and organization science? If not, why not, and what are the implications of your beliefs for research methods in those areas? Lay out the components of the Runkel and McGrath (1972) Research Cycle and the Martin (1982) Garbage Can Model of the research process. What are the aims of either approach? What assumptions does each approach make? What basic themes does each approach emphasize? What kinds of constraints on the process of doing research does each approach highlight? How are the two approaches alike and different in other ways? What are the likely pitfalls of viewing the research process from only one of these two viewpoints? Define (and discuss important features or issues concerning) the following constructs of Philosophy and Logic of Science. (Define any four terms). 1. Null hypothesis 3. Paradigm 4. Independent variable 5. Operational definition 6. Nomological network 8. The fallacy of affirming the consequent 9. Theory 2....
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...3122-prelims.qxd 10/29/03 2:20 PM Page i International Human Resource Management 3122-prelims.qxd 10/29/03 2:20 PM Page ii 3122-prelims.qxd 10/29/03 2:20 PM Page iii second edition International Human Resource Management edited by A n n e - Wi l H a r z i n g J o r i s Va n R u y s s e v e l d t SAGE Publications London l Thousand Oaks l New Delhi 3122-prelims.qxd 10/29/03 2:20 PM Page iv © Anne-Wil Harzing and Joris van Ruysseveldt, 2004 First published 2004 Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act, 1988, this publication may be reproduced, stored or transmitted in any form, or by any means, only with the prior permission in writing of the publishers, or in the case of reprographic reproduction, in accordance with the terms of licences issued by the Copyright Licensing Agency. Enquiries concerning reproduction outside those terms should be sent to the publishers. SAGE Publications Ltd 1 Olivers Yard London EC1Y 1SP SAGE Publications Inc 2455 Teller Road Thousand Oaks, California 91320 SAGE Publications India Pvt Ltd B-42, Panchsheel Enclave Post Box 4109 New Delhi 100 017 British Library Cataloguing in Publication data A catalogue record for this book is available from the British Library ISBN 0 7619 4039 1 ISBN 0 7619 4040 5 (pbk) Library of Congress Control Number...
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...employees from different cultural backgrounds will have to improve their communication skills. An intercultural training programme is needed in order to prepare multicultural employees for surprises that could arise in complex cultural situations without being frustrated, stressed, and puzzled. TABLE OF CONTENTS TITLE PAGE PAGE ABSTRACT ii ABSTRAK iii ACKNOWLEDGEMENT iv DECLARATION v TABLE OF CONTENTS vi LIST OF TABLES ix LIST OF FIGURES x Chapter 1: Introduction 1 1. Introduction 1 1.2 Oil and Gas Industry in Malaysia 3 1.3 Problem Statement 4 1.4 Objectives of the Study 5 1.4.1...
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...Annual Report and Form 20-F 2013 bp.com/annualreport Building a stronger, safer BP Who we are BP is one of the world’s leading integrated oil and gas companies.a We aim to create long-term value for shareholders by helping to meet growing demand for energy in a safe and responsible way. We strive to be a world-class operator, a responsible corporate citizen and a good employer. Through our work we provide customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. Our projects and operations help to generate employment, investment and tax revenues in countries and communities around the world. We employ more than 80,000 people, mostly in Europe and the US. As a global group, our interests and activities are held or operated through subsidiaries, branches, joint arrangements or associates established in – and subject to the laws and regulations of – many different jurisdictions. The UK is a centre for trading, legal, finance, research and technology and other business functions. We have well-established operations in Europe, the US, Canada, Russia, South America, Australasia, Asia and parts of Africa. a On the basis of market capitalization, proved reserves and production. Annual Report and Form 20-F 2013 bp.com/annualreport Front cover imagery Our second BP-operated development in Angola consists of four oil fields – Plutão, Saturno...
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...global trends in sUstainable energy investment 2010 Analysis of Trends and Issues in the Financing of Renewable Energy and Energy Efficiency United nations environment Programme Endorsed by Copyright © United Nations Environment Programme and New Energy Finance, 2010 This publication may be reproduced in whole or in part and in any form for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgement of the source is made. UNEP would appreciate receiving a copy of any publication that uses this publication as a source. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the United Nations Environment Programme. Disclaimer United Nations Environment Programme: The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the United Nations Environment Programme concerning the legal status of any country, territory, city or area or of its authorities, or concerning delimitation of its frontiers or boundaries. Moreover, the views expressed do not necessarily represent the decision or the stated policy of the United Nations Environment Programme, nor does citing of trade names or commercial processes constitute endorsement. Bloomberg New Energy Finance: The information contained in this publication is derived from carefully selected public...
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...THE INTELLIGENT INVESTOR A BOOK OF PRACTICAL COUNSEL REVISED EDITION B E NJAM I N G RAHAM Updated with New Commentary by Jason Zweig To E.M.G. Through chances various, through all vicissitudes, we make our way. . . . Aeneid Contents Epigraph iii Preface to the Fourth Edition, by Warren E. Buffett viii A Note About Benjamin Graham, by Jason Zweig x Introduction: What This Book Expects to Accomplish COMMENTARY ON THE INTRODUCTION 1. 1 12 35 The Investor and Inflation 47 COMMENTARY ON CHAPTER 2 3. 18 COMMENTARY ON CHAPTER 1 2. Investment versus Speculation: Results to Be Expected by the Intelligent Investor 58 65 COMMENTARY ON CHAPTER 3 4. A Century of Stock-Market History: The Level of Stock Prices in Early 1972 80 General Portfolio Policy: The Defensive Investor 88 COMMENTARY ON CHAPTER 4 5. 101 124 Portfolio Policy for the Enterprising Investor: Negative Approach 133 COMMENTARY ON CHAPTER 6 7. 112 COMMENTARY ON CHAPTER 5 6. The Defensive Investor and Common Stocks 145 iv 155 COMMENTARY ON CHAPTER 7 8. Portfolio Policy for the Enterprising Investor: The Positive Side 179 The Investor and Market Fluctuations 188 v Contents COMMENTARY ON CHAPTER 8 9. Investing in Investment Funds COMMENTARY ON CHAPTER 9 213 226 242 10. The Investor and His Advisers 257 COMMENTARY ON CHAPTER 10 272 11. Security...
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...“A critical component of any winning business is an HR function that improves business results. I highly recommend this book to HR and business leaders everywhere.” —William S. Allen, Senior VP, Group HR, AP Moller-Maersk AS, Copenhagen, Denmark “Got business? This book does. By asking (and answering) the tough questions about HR relevance for line managers, shareholders, and customers, readers will clearly understand the why, how, and what of HR transformation.” —Rich Baird, Joint U.S. and Global Leader, Advisory People and Change, PwC “Wow, they have done it! Many HR shops need transformation but don’t have the answers. This book is the roadmap, answers the questions, provides the rationale, and describes how HR transformations should unfold. Read it, but better yet—do it!” —Richard W. Beatty, Rutgers University, coauthor of The Differentiated Workforce “A must read for an HR team that wants to add the most value to the business.” —Bob Bloss, HR Executive Vice President, Hallmark “A thoughtful and practical guide that will help leaders navigate some of the most important decisions about building the HR organization of the future.” —John Boudreau, USC Marshall, coauthor of Investing in People and Beyond HR “Two bangs for your hard-earned buck. First, a very strong summary of the key tenets of the most important HR thinking. Second, highly practical examples of what to do and—even more importantly—what NOT to do when embarking upon transformation.” —Reg Bull...
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...Aptitude Testing and the Legal Profession 6 June 2011 Dr. Chris Dewberry Birkbeck, University of London 1 Acknowledgement: I wish to thank Chris Hutton for his help in compiling information in the section of this report entitled Aptitude Tests Currently Used in the Professional Services Sector, Appendix 3, and Appendix 4. 2 Contents Executive Summary ................................................................................................................... 6 The Background to this Report................................................................................................ 12 An Introduction to Aptitude and Aptitude Tests ..................................................................... 13 A Brief History of Psychological Ability Testing ....................................................................... 16 The Origins of Testing .......................................................................................................... 16 The Birth of the Modern Ability Test ................................................................................... 17 The Introduction of Group Testing ...................................................................................... 19 The New Science of Psychological Testing .......................................................................... 20 The Growth of the Ability and Aptitude Testing Industry ................................................... 20 Aptitudes and...
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...technology for good Ericsson Sustainability and Corporate Responsibility Report 2014 about ericsson Ericsson is a driving force behind the Networked Society – a world leader in communications technology and services. The Company’s long-term relationships with every major telecom operator in the world allow people, businesses and societies to fulfill their potential and create a more sustainable future. Ericsson’s services, software and infrastructure – especially in mobility, broadband and the cloud – are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities. With more than 115,000 professionals and customers in more than 180 countries, Ericsson ombines global c scale with tech ology and services leadership. Investments in research and development ensure that Ericsson’s n solutions – and its customers – stay in the forefront. The Company provides support for networks with more than 2.5 billion subscribers. Approxmately 40% of the world’s mobile traffic is carried through etworks delivered by i n Ericsson. Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. The Ericsson share is listed on Nasdaq Stockholm and NASDAQ New York. Cover photo: Myanmar, a country undergoing democratic and social reform, has one of world’s lowest levels of mobile broadband p enetration. ICT can play a huge role in boosting socio-economic development. In 2014...
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