...Executive Summary This paper shed light on the reasons behind First Farms Corporations’ deficit in its operating cash flows and its decrease in Return on Equity (ROE) despite having a 40% increase in sales and 89% on net income. The objective of the paper is whether the management should recommend pushing through with the planned expansion of the chicken business as well as the feeds business. After having analyzed the financial ratios and SWOT of the company, it has been decided that it is better for the company not to push through with the expansion. Despite the promising increase in sales and net income, its inventory has been problematic as it showed an inverse relationship with its sales which is where we can trace back the deficit in its operating cash flows. It is recommended that the company seek better implementation of how it disposes it inventories as well as collect its receivables, find alternatives as how to handle increasing cost of production, and study its business environment. This could be the best alternatives that the company could do until they are in shape again to continue with expansion plans if the need arise again in the coming years. II. Point of View For this case, the point of view of the Vice President for Finance of First Farms Corporation (FFC) will be used. III. Case Context The First Farms Corporation started in the 1950s as a small animal feeds manufacturing plant with 15 employees in Caloocan. Since then, the company...
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...density, high heat resistance, high fatigue resistance, high crack resistance and biocompatibility; it is widely used in various industries (Moiseyev, 2006). Titanium is often combined with other metals such as aluminum, vanadium, copper, iron, manganese and molybdenum to create alloys of improved grain size and hardness (Clifford, 1968). Titanium mill products: titanium foil, sheet, wire, and rod are useful in the aerospace, marine, military and other industries. Titanium powder is also used in pyrotechnics to produce silver sparks (Helmenstine, n.d.). Titanium is commonly consumed, meaning, about 95% of titanium ore extracted from the Earth is being refined into the form of titanium dioxide (TiO2), a white permanent pigment used in paints, paper, toothpaste, and plastics (Smook 2002). As titanium oxide, it is used as air purifiers (as a filter coating) to coat windows on buildings so that when titanium oxide becomes exposed to UV light (either solar or artificial) and moisture in the air, reactive redox species like hydroxyl radicals are produced so that they can purify the air or keep window surfaces clean (Stevens et. al., 1998). Also, just recently, 18-year-old Eesha Khare, a senior at Lynbrook High School, designed, synthesized and characterized a core-shell nanorod electrode capacitor (with a hydrogenated titanium dioxide core and polyaniline shell) that retained a supercapacitor's energy density and long life (Adhikari, 2013). The proponents, however, limit the scope of their...
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...ISSUES IN ACCOUNTING EDUCATION Vol. 24, No. 1 February 2009 pp. 63–76 Assessing Information Technology General Control Risk: An Instructional Case Carolyn Strand Norman, Mark D. Payne, and Valaria P. Vendrzyk ABSTRACT: Information Technology General Controls (ITGCs), a fundamental category of internal controls, provide an overall foundation for reliance on any information produced by a system. Since the relation between ITGCs and the information produced by an organization’s various application programs is indirect, understanding how ITGCs interact and affect an auditor’s risk assessment is often challenging for students. This case helps students assess overall ITGC risk within an organization’s information systems. Students identify specific strengths and weaknesses within five ITGC areas, provide a risk assessment for each area, and then evaluate an organization’s overall level of ITGC risk within the context of an integrated audit. Keywords: internal controls; general control; ITGC; risk assessment. INTRODUCTION he Sarbanes-Oxley Act (SOX 2002) and the Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 5 (PCAOB 2007) require that the organization’s chief executive officer (CEO) and chief financial officer (CFO) include an assessment of the operating effectiveness of their internal control structure over financial reporting when issuing the annual report. External auditors must review management’s internal control assessment as part of an annual integrated audit...
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...working women’s attitudes towards consumption of fast food A.H.B. Sajani Rasanthikaa, T.S.L.W. Gunawardana b a Department of Marketing,University of Ruhuna, Matara, Sri Lanka sajani87@yahoo.com b Department of Marketing,University of Ruhuna, Matara, Sri Lanka gunawardana@badm.ruh.ac.lk Abstract The study focuses on examining working women’s attitudes towards the consumption of fast food. Five, literature supported, hypotheses were derived and tested to examine the attitudes in relation to the perceived taste, perceived quality, perceived nutrition value, perceived convenience and perceived price of fast food. A survey was conducted using 177 working women in Matara district, Sri Lanka. Structural equation modelling was employed for data analysis. The results showed that perceived convenience of fast food has a significant positive effect over fast food consumption whilst taste, nutrition value and price give a positive but not significant effect. However, perceived quality of fast food indicates a negative but non-significant effect on fast food consumption. Keywords: Fast Food consumption, working women 1. Introduction Fast food industry is not only a transformation to the traditional diet, but also a new trend to the landscape, economy, workforce and it has created a popular culture within a short period of time (Schlosser, 2001). Fast food can be identified as one of the main food choices of people today. In according to the definition of online Oxford dictionary, fast food...
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...of methylene blue and malachite green dye in single dye solution were studied. As a result, granular form of coconuts have higher percentage removal dye of methyelene blue and malachite green blue which is 98.3% and 99.0%. This study shows a major approach of turning the agricultural waste to an added value product which is absorbent for wastewater treatment especially in textile industries sector. Keywords: Coconut fibre, absorption, melethylene blue dye, malachite green dye. 1. INTRODUCTION Water pollution has become a serious problem around the world including Malaysia. Malaysia is one of the country that fall into this negatively impacts on the sustainability of water resources. Many industries sector in Malaysia such as textile, paper, paint, pharmaceuticals, food, leather, cosmetics, tannery, printing and plastics used wide verieties of dye in order to color their product for example such as batik in textile industry. Among those industries sector in Malaysia, textiles industry ranked first in the usage of dyes for coloration of fiber [1]. Considering both volumes discharged and effluent composition, wastewater from the textile industry was declared as one of the major sources of wastewater in ASEAN countries [2]. The wastewaters discharged from dying processes exhibit high biological oxygen demand (BOD), high chemical oxygen demand (COD) are highly colored, hot, alkaline...
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...DO NOT PLAGARIZE TUTORIAL ONLY. Program Planning and Evaluation Paper HSM/270 February 5, 2012 Program Planning and Evaluation Paper There are so many different human service organizations around the country today, that it may be difficult to see the commonalities and or differences within each, I myself have this issue yet I believe that the commonalities are what includes many agencies to be human service agencies and the differences are what makes up the plethora of agencies still considered human service branches. The Human service agency I chose to work with this block is the Peace Domestic Violence Agency, I am pulled towards this agency because I can see not only does this help abused spouses in a relationship but also children who are most often times the unseen victim. an agency such as this opens up the spectrum for so many that may need to be reached, and on many different levels from basic needs to counseling, from children's delicate needs to protection of a whole family when necessary. let's take these proven statistics as an example[ Every 9 seconds in the US a woman is assaulted or beaten, and Studies suggest that up to 10 million children witness some form of domestic violence annually.] ("domestic violence statistics," 2012) these statistics are very powerful, and eye opening. let's begin by establishing the mission of the peace domestic violence agency, which is [to reduce victim trauma, empower survivors, and promote recovery through direct...
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...JAIRM, 2014 – 4(1), 78-95 Online ISSN: 2014-4806 – Print ISSN: 2014-4865 http://dx.doi.org/10.3926/jairm.22 Flight delay performance at Hartsfield-Jackson Atlanta International Airport Grigoriy Yablonsky1, Richard Steckel1, Denis Constales2, John Farnan1, Damon Lercel1, Manoj Patankar1 1 Saint Louis University, Parks College of Engineering, Aviation and Technology (USA), Ghent University, Department of Mathematical Analysis (Belgium) 2 gyablons@slu.edu, rsteckel@slu.edu, denis.constales@gmail.com, jfarnan@slu.edu, dlercel@slu.edu, patankar@slu.edu Received October, 2013 Accepted February, 2014 Abstract Purpose: The main objective of this paper is to determine the annual cyclical flight delays at Hartsfield-Jackson Atlanta International Airport. Then using other data such as annual precipitation, passenger and aircraft traffic volumes and other factors, we attempted to correlate these factors with overall delays. These data could assist airport management in predicting periods of flight delay. Design/methodology/approach: Data were taken and analyzed from the data base “Research and Innovation Technology Administration” (RITA) for the years 2005-2011 for Hartsfield-Jackson Atlanta International Airport. The data included 2.8 million flights originating and departing from this airport. Data were also gathered from the National Oceanic and Atmospheric Administration (NOAA) showing precipitation. Additional data were gathered from the FAA regarding delay causes...
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...Under traditional principles of intellectual property protection, copyright law has served as the principal source of legal protection for literary and artistic work, while the patent system and trade secret law have been the primary means for protecting utilitarian works. Computer software as a relatively new recipient of copyright protection, however, defies easy categorisation within the traditional framework of the intellectual property system. 1 With respect to computer software, courts have had to grapple with the vexatious issue of drawing a precise line between copyrightable expression of computer software and the uncopyrightable processes that they implement. The present paper seeks to study some of these themes and the principles enunciated in judicial decisions in clarifying the issue. Computer software as literary work It is a well-established proposition that computer programs2 are copyrightable subject-matter, just like any other literary work.3 Loading a program into computer memory, saving the program or running it without authority may infringe copyright. Making an arrangement or altered version of the program or converting it into or out of one computer language or code into a different computer language or code is also an infringement. It is a well-established proposition that computer programs are copyrightable subject-matter, just like any other literary work. Loading a program into computer memory, saving the program or running it without authority may...
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...Contents Starting an e-business in the Electronic Global Marketplace: Completing an Integrated e-Marketing Plan 1 Executive Summary 3 Selection of the e-Business for the Project 4 Environmental Analysis of the Marketplace 6 Targeted Market Segmentation 8 Consideration of Placement Decisions 10 Consideration of Product Decisions 13 Considerations of Pricing Decisions 16 Analysis of Innovative Promotional Communication Tools 18 Implementation and Measurement of Strategic Goals 23 Conclusions and Recommendations 25 Appendices 26 Executive Summary Sears was founded in the 1800’s and it was one of America’s largest retailers at one point. However, competition, and evolution took place and left this company struggling to make profits. This forced Sears to come up with a new innovative idea and they created online website/sales. With that idea they needed an e-marketing plan, which is proposed below. Section I: Firm details- This section describes the company and its history. It specifies the success and its struggle, and where the company stands today. It explains the main reason for and e-marketing plan as well as why it would benefit from this plan. Section II: Environmental analysis-Environment plays a big role on every business in the world and for sears it is not an exception. This section includes a description of different types of factors that affect a marketing plan, such as competition...
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...business is to provide packaging materials for the products of different industries. It also produces all types of tissues available in the local market as well as for export purposes. There are more than 3000 employees working in the company. Packages Limited has had a joint venture with Tetra Pak International in Tetra Pak Pakistan Limited to manufacture paperboard for liquid food packaging and to market Tetra Pak packaging equipment. Packages commissioned its own paper mill with a production capacity of 24,000 tonnes in 1968. The mill produces paper and paperboard based on waste paper and agricultural by-products like wheat straw and river grass. With growing demand the capacity was increased periodically and in 2003 was nearly 100,000 tonnes per year. In the beginning 22 Swedish Experts came to Pakistan to run the factory and to train the Pakistani staff. Packages Limited was established in 1957 as a joint venture between the Ali Group of Pakistan and Akerlund & Rausing of Sweden, to convert paper and Paperboard into packaging for consumer industry in 1958 production of packaging cartons for different industries started packaging. Cartons include soaps, biscuits, cigarettes, tea, and pharmaceutical products and many others. a joint venture agreement was signed with Mitsubishi Corporation of Japan for the manufacture of Polypropylene films at the Industrial Estate in Hattar, NWFP. This project, called Tri-Pack Films Limited, commenced production...
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...1. Introduction This is the final project of the Course Named: Investment & Portfolio Analysis. The purpose of this project is to examine thoroughly if the CAPM holds true in the emerging capital market of Pakistan. Tests are conducted for a period of five years (2005-2009), which is characterized by intense return volatility (covering historically high returns over the examined period). 2.1. Karachi Stock Exchange * Incorporated on March 10, 1949 * Premier Stock exchange of the country * Started with 5 companies that had a paid up capital of Rs. 37 million. * Trading was done through an open-out-cry system * The first index was the KSE 50 Index * Exchange owned by 200 members * 652 companies listed * 4 indices * Modern Risk Management System a. Var Based Margin b. Pre Trade Margin Verification * KSE is FIX Compliant * Electronic Trading through KATS * Market capitalization*: US $ 26.04 billion * Publicly Listed Company with strategic investor * Products to include: a. Options b. ETFs c. Tradable Sector Indices d. Debt Market Trading * Broad based investor participation * Cross border listings of companies * Opening up of branches in other cities and in the region 2.2.1. Definition A stock exchange, share market or bourse is a corporation or mutual organization which provides facilities for stock brokers and trader s, to trade company stocks and other...
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...Investment Analysis Summer 2013 – Class Notes Investments: Background and Issues Investment - the current commitment of money or other resources in the expectation of reaping future benefits. Real Assets versus Financial Assets Real Assets – Assets used to produce goods and services. Real assets are tangible assets that determine the productive capacity of an economy, that is, the goods and services its members can create. These include land, buildings, machines, and knowledge that can be used to produce goods and services. Other common examples of investments in Real Assets are paintings, antiques, precious metals and stones, classic cars etc. Higher carrying and storage costs, increased transaction fees and lower liquidity, are some common drawbacks of real assets in relation to financial assets. – i.e. - land, buildings, equipment & knowledge – Functions to contribute directly to the productive capacity of the economy – Generate net income to the economy – Individual portfolios may include real assets, real estate and commodities (precious metals or agricultural products), through direct investment. • Financial Assets – Claims on real assets or the income generated by them. Financial Assets, or more commonly known as Securities, include stocks, bonds, unit trusts etc. In essence, financial assets or securities represent legal claim on future financial benefits. These are no more than sheets of paper and do...
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...VALUE CALL MONTHLY REVIEW AND OUTLOOK 31 May 2011 The Market Index 13,000 The Market ‐ One Year Performance Volume Index Volume (m) 400 300 200 11,000 9,000 100 0 31‐Aug 30‐Nov 1‐Mar 31‐May 7,000 1‐Jun The market was range bound coupled with thin volumes for most of the month under review before activity The Market ‐ May 2011 Index Volume (m) Turnover Index picked up over the final 10 days. The KSE‐100 Index 12,300 140 12,200 120 posted a minor gain of 65 points or 0.5% during May 12,100 100 12,000 2011 to close at 12,123 while the KSE‐30 Index improved 11,900 80 by only 46 points or 0.4% to 11,762. The average daily 11,800 60 11,700 turnover during May 2011 was 71.39m shares compared 11,600 40 11,500 20 to 75.52m shares during April 2011. The net inflow of 11,400 11,300 foreign funds according to NCCPL figures during the 2-May 5-May 10-May 13-May 18-May 23-May 26-May 31-May month under review was US$26.36m while the fiscal year ‐to‐date net inflow was US$321.39m and the calendar STOCK MARKET DATA 29‐Apr‐11 31‐May‐11 %Chg. year‐to‐date net inflow was US$71.40m. Bank AL Habib Ltd. (BAHL) KSE‐100 Index KSE‐30 Index Shares Traded m 12,057.54 12,123.15 11,716.35 11,762.76 1,585.92 1,570.54 0.5% 0.4% ‐1.0% ‐20.7% ‐20.7% 0.3% 0.3% We are initiating coverage on BAHL, the eight largest ...
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...NATIONAL DISASTER MANAGEMENT SYSTEM 1. Introduction. Pakistan is located in a region which is prone to number of natural disasters. Due to its diverse range of terrain and existence of fault lines, the country is susceptible to wide ranging hazards from earthquake to droughts and floods to cyclones. Pakistan has suffered floods almost every year as monsoon rains cause rivers to outflow from their banks. The country also experiences earthquake regularly ranging from moderate to severe in intensity. We have been suffering from drought like situation of varying degrees from many years and the coastal areas are prone to cyclones. There is no comprehensive, integrated disaster management policy at national level for dealing with major disasters like earthquake of 2005 and floods of 2010 and 2011 partially due to limited resources, economic instability and partially due to absence of well trained and equipped disaster management infrastructure. We also lack proper system for disaster prevention and preparedness that could ensure effective mitigation to reduce the loss of life and property damage in the face of a natural disaster. 2. Disaster management is unfortunately seen as provision of relief rather than the management of all of its phases and long term management of risk. We therefore need a comprehensive preparedness, prevention and mitigation strategy with a view to better manage and coordinate activities of various line ministries, departments and civil society. Pakistan...
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...M UM B A I S I L I C O N VA L L E Y BANGALORE S I NG A P ORE M UM BA I -BK C NEW DELH I M UNI CH Intellectual Property Law in India December 2013 © Copyright 2013 Nishith Desai Associates www.nishithdesai.com Intellectual Property Law in India About NDA Nishith Desai Associates (NDA) is a research based international law firm with offices in Mumbai, Bangalore, Silicon Valley, Singapore, New Delhi, Munich. We specialize in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner. We focus on niche areas in which we provide significant value and are invariably involved in select highly complex, innovative transactions. Our key clients include marquee repeat Fortune 500 clientele. Core practice areas include International Tax, International Tax Litigation, Litigation & Dispute Resolution, Fund Formation, Fund Investments, Capital Markets, Employment and HR, Intellectual Property, Corporate & Securities Law, Competition Law, Mergers & Acquisitions, JVs & Restructuring, General Commercial Law and Succession and Estate Planning. Our specialized industry niches include financial services, IT and telecom, education, pharma and life sciences, media and entertainment, gaming, real estate and infrastructure. IFLR1000 has ranked Nishith Desai Associates in Tier 1 for Private Equity (2014). Chambers & Partners has ranked us as # 1 for Tax, TMT and Private Equity (2013). Legal Era, a prestigious Legal Media Group...
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