...the main concerns I have seen in the hospital setting is staff turnover among the nursing profession. The turnover can ultimately lead to temporary problems like understaffing. Thankfully though, I believe this problem is amendable with proper intervention to facilitate a change toward staff retention. So why is staff turnover a problem in the nursing profession? First and foremost, this is not a unifactoral issue. In fact, staff turnover is the byproduct of multiple job related factors and stressors in the nursing profession. For instance, job-related stress plays a major factor in decreasing one’s job satisfaction. Stress in nursing usually occurs when one perceives that his or her resources are exceeded in a given situation (Esther, et al., 2005). Typical factors that can promote stress in a nurse are high job demands and excessive work hours. With these factors, the nurse may continually feel overworked, while also feeling like they are working “all the time.” Other factors that could cause stress are having little control over your work environment or having limited supportive relationships in the workplace. As we all realize, at least some sense of control and peer support are necessary to promote feelings of job satisfaction (2005). Finally, staff turnover itself can cause stress for the nurse, as he or she may feel overwhelmed by the increasing workload, which is promoted by the decreasing amount of available staff. Furthermore, “burnout” will usually occur after a prolonged...
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...Application of Theory Neukenya Jokines Chamberlain College of Nursing Application of Theory The future of nursing is dependent upon nursing leadership that adheres to the professional standards in regards to education, research and practice. On a daily basis decisions are made by nurses that directly affect the lives of others. Nursing theory is a guide that has been set in place in order for nurses to look upon when it comes to daily healthcare decisions. It was stated by Cody (2003), that “one learns to practice nursing by studying nursing theories” (pg. 226). This statement can be applied to the problems of nursing leadership, problem solving and decision making. Cody (2003), also states that “nursing practice will be transformed to the betterment of humankind when all nursing practice is fully autonomous and guided predominantly by nursing theory” (pg. 230). For many years nursing practice has found its foundations from nursing theories. Understanding how nursing knowledge within healthcare organizations influence patient and organizational outcomes are discussed in the middle range theory of nursing intellectual capital (Covell, 2008). Intellectual capital is defined as the combination of collective knowledge of individuals and structures in an organization or society. The theory consists of two concepts of nursing which includes human capital and nursing structural capital. According to (Covell & Sidani, 2013) “Intellectual capital theory defines human capital...
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...Applying the Jean Watson's Caring Theory to the Nurse Staffing Ratio in Practice Chamberlain College of Nursing NUR501: Theoretical Basis Advance Nursing December 05, 2015 Introduction Nursing theory impacts the practice of nursing in many different ways that can have a great influence. Theory provides a structure to support and shape nursing practice, encourage quality of patient care, and can be utilized in practice situations to give solutions to problems in nursing practice. Utilizing theories to solve nursing obstacles can be used in educational settings, research environment, direct patient care, informatics, as well as in administration and management of nursing care services. The advantages of applying theory to resolve a challenge in nursing practice can be demonstrated by applying Jean Watson’s theory of human caring. Jean Watson’s theory of human caring is a grand theory that provides to the empirical stand point of nursing. It emphasizes on genuine caring about the human being as whole; meaning caring about the human’s mind, body and spirit in order for the healing process to sustain at highest level. Her theory is portrayed as a model of caring which art and science are both included; presenting a framework that involves and divides art, science, humanities, spirituality, mind-body-spirit in medicine, and nursing (Watson, 2000). Nursing practice today is impacted by Watson’s caring theory. It does not only enable nurses to improve care...
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...Management Accounting as tools of daily job routine The hospitality industry consists of broad category of fields within the service industry that includes lodging, restaurants, event planning, theme parks, transportation, cruise line and additional fields within the tourism industry. The hospitality industry is a several billion dollar industry that mostly depends on the availability of leisure time and disposable income. A hospitality unit such as a restaurant, hotel, or even an amusement park consists of multiple groups such as facility maintenance, direct operations (servers, housekeepers, porters, kitchen workers, bartenders, etc.), management, marketing, human resources, property maintenance and finance. The hospitality industry covers a wide range of organizations offering food service and accommodation. The hospitality industry is divided into sectors according to the skill-sets required for the work involved. Sectors include accommodation, food and beverage, meeting and events, gaming, entertainment and recreation, tourism services, and visitor information. Usage rate is an important variable for the hospitality industry. Just as a factory owner would wish to have his or her productive asset in use as much as possible (as opposed to having to pay fixed costs while the factory isn't producing), so do restaurants, hotels, and theme parks seek to maximize the number of customers they "process". Very important is also the characteristics of the personnel working in...
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...organization by taking in to account company’s liquidity, leverage, operating efficiency and profitability. It concentrates on financial statements analysis, which highlights the key aspects of firms operations. Financial managers need the information provided by the analysis both to evaluate the firm’s past performance and to map the future plans and undertake informed decision. In addition to this, both lenders and other potential lenders use financial ratios to assess the future performance of a company in which they plan to invest in. Managers use this information in order to judge the performance of their entity and to control the day-to- day operation of that entity and owners make use of financial ratios to evaluate whether their companies are maximizing their wealth or not. Ratio analysis is used to compare a firm’s performance and status with that of other firms or itself over time. It involves calculating and interpreting financial ratios in order to assess the firm’s performance and status .The basic inputs to ratio analysis are the firm’s income statement and Balance sheet for the period to be examined ( Yaregal, 2007). The main objective of this study is to evaluate the financial performance of Modern Industry PLC. The study...
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...TABLE OF CONTENTS CONTENTS | PAGE NO. | Q.1 Identify stakeholder expectations of the Panther Motor Company Ltd. On a 0-10 scale give a rating for each expectation. | 2. | Q.2 Prepare a vision and a mission statement for panther and Soyus respectively. | 3. | Q.3 Carry out a SWOT analysis of Panther and develop strategies and objectives against results of the SWOT. | 4. | Q.4 Identify the critical success factors of panther and soyus respectively, and explain how they can enhance their market share. | 5. | Q.5 Identify objectives under key result areas for the two companies | 6-7. | Q.1 Identify stakeholder expectations of the Panther Motor Company Ltd. On a 0-10 scale give a rating for each expectation. Current level | Competitors level | Desired level | Return on capital invested. | 6 | 4 | 7 | Dividend | 6 | 4 | 6 | Transparency | 5 | 5 | 5 | Share price | 7 | 4 | 9 | Return on Capital engaged | 5 | 6 | 7 | Q.2 Prepare a Vision statement and a Mission Statement for Panther and Soyus respectively. * Panther motors. * VISION STATEMENT To be the pioneer in Automobile industry who provides the best quality products in an environmental friendly way which will highly satisfy our customer needs. * MISSION STATEMENT To provide the most innovative, eco- friendly and high quality spare parts, through diversifying for every interest of customers at each and every segment. * Soyus. * VISION STATEMENT To become the world’s leading Consumer Company for automotive...
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...Staffing Day to Day The American Nursing Association defines staffing as matching the registered nurse expertise with the needs of patients requiring nursing care services. There are many influences and factors that go into determining the staffing level. There are two different ways of staffing: centralized and decentralized. Centralized staffing is when there is one department responsible for all the units, float staff and on-call staff. Decentralized staffing is when unit leaders or charge nurses, managers, or directors determine the level of staff needed before and during the shift. Staffing nurses is typically set in a 24-48hr window, whereas scheduling can be a month out (Mensik, 2014). In addition to the two different ways of staffing, there are three different models that staffing...
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...a few ratios and compare Reed’s results with industry averages. (Some industry averages are shown in Exhibit 4.) What do these ratios indicate? Liquidity Ratios The liquidity ratios are the ratios that are used to measure the company’s ability to pay off short-term debt when they come due. For current ratio and quick ratio, it should be at least greater than 1. For receivable turnover, it will be good for the company if the turnover is high, which will indicate the effective collection from the customers. The average collection period for the firm with high receivable turnover will be short. By comparing Reed’s results with industry averages, we can see that Reed is far behind than the industry averages, having problems to meet short-term obligations and weak past due collections policy. Industry Current ratio = Current Assets/Current Liabilities = 921/457 = 2.02 2.7 Quick ratio = (Current Assets – Inventory)/Current Liabilities = (921 – 491)/457 = 0.94 1.6 Receivable turnover = Sales/Accounts receivable = 2,035/413 = 4.93 7.7 Average collection period = 365/ Receivable turnover = 365/4.93 = 74.08 47.4 Efficiency Ratios The efficiency ratios are the ratios that are used to measure the efficiency of the company to manage its assets, inventory, and payment. The high total asset turnover and inventory turnover will indicate high efficiency rate for the company. For payable turnover, it will...
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...Qantas Airways Ltd: A case study for Financial Statement Analysis Peter Wells* and Anna Wright. 12 February 2004 Not to be used or cited without the permission of the authors * Corresponding author: School of Accounting, University of Technology, Sydney, Broadway NSW 2007 Australia Tel: 61-2-9514 5295 Fax: 61-2-9514 5515 Email: peter.wells@uts.edu.au 6. Financial Analysis The aim of financial analysis is to present and summarise information contained in the financial statements in a manner that facilitates an understanding of the activities of the firm, and ultimately, forecasting future period financial statements. 6.1 Reformatting of financial statements A major problem with general purpose financial reports is the intertwining of the operating (and investing) and financing activities of the firm. Furthermore in the accounting analysis previously undertaken (section 5) accounting practices will be identified that are considered inappropriate or that obscure actual firm performance. These issues can be addressed through the reformatting or recasting of the financial statements of the firm. A consequence of the intertwining of the operating and financial activities of the firm is that summary measures of firm performance will reflect both operating and financial activities and management decisions, with this making interpretation of such measures problematic. Accordingly, a necessary first stage of financial analysis is the separation of...
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... e. Communicate with the previous auditor after receiving permission from the client. This can be found in AU315. (required) 2. Ratios Return on Equity 2011 2010 2009 8.94 7.11 6.28 Return on Assets 2011 2010 2009 4.54 3.77 3.39 Assets to Equity 2011 2010 2009 1.97 1.88 1.85 Accounts Receivable Turnover 2011 2010 2009 11.69 13.11 14.02 Average Collection Period 2011 2010 2009 31.23 27.85 26.03 Inventory Turnover 2011 2010 2009 6.08 4.51 3.47 Days in Inventory 2011 2010 2009 59.9 80.88 104.98 Debt Ratio 2011 2010 2009 .49 .47 .46 Debt to Equity Ratio 2011 2010 2009 .97 .88 .85 Times interest earned 2011 2010 2009 4.7 4.24 6.23 Current ratio 2011 2010 2009 1.85 1.91 1.69 Profit margin 2011 2010 2009 5.5 6.0 4.7 Differences to be aware of: 1. Low return on equity in comparison. 2. Low return on assets in comparison. 3. Accounts receivable is high in comparison. 4. Inventory turnover is low in comparison. 5. The profit margin is low in comparison. 3. Nonfinancial matters to consider A. Management turnover. There could be disagreements with ethical matters, which are causing managers to leave. B. The accounting and control systems are complicated. The transition hasn’t gone smoothly, staff still needs to be retrained, and there are problems with documentation of inventory,...
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...Canadia Bank’s History Canadia Bank Plc. was established on 11th November 1991 as “Canadia Gold & Trust Corporation Ltd.”, joint-venture between Cambodian - Canadians and the National Bank of Cambodia (Central Bank of Cambodia). The bank’s management consisted of former staff of the National Bank of Cambodia and its Cambodian–Canadian shareholders. The main activities were based on gold transactions, gold plaque manufacturing and lending to local merchants. On 19th April 1993 the name was changed into CANADIA BANK LTD., licensed as a Commercial Bank with the National Bank of Cambodia and registered with the Ministry of Commerce. On 16th December 2003 the name of the bank changed into CANADIA BANK PLC. (Public Limited Company). Since privatization in 1998 the Bank has become the largest local bank in Cambodia. With a worldwide network of correspondent banking relationships and a solid base of local and international customers CANADIA BANK PLC holds commanding market shares in loans as well as deposits. The bank offers a wide range of financial services through its Head Office and its 23 branches in Phnom Penh and major cities throughout the country. Strong expansion plans call for a total branch network of 28 branches until the end of 2008. Canadia Bank’s mission The mission of the Bank is to be a leader of Cambodia’s financial industry. To achieve this mission, the Bank has continued to improve its customer services by introducing new and innovative financial...
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...Task 1 A business keeps various types of financial record to monitor its performance and ensure that taxes are paid. These include cash flow statements, profit and loss accounts and a balance sheet. Profit and Loss Account A trading, profit and loss account shows the business's financial performance over a given time period, e.g. one year. The sales on the profit and loss account are the revenue that the business is receiving from selling products or services which was £187,730. The cost of sales then needs to be calculated in order to generate a gross profit figure. Cost of sales is the money that is needed to provide products or services to customers which was £83,000 in this scenario. The trading account shows The Craft & Pottery Shop & Studio LTD has made a gross profit of £105,785 before taking into account other expenses such as overheads. Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. The profit and loss account shows a net profit of £18,865 has been made. Net profit is the amount of ‘true profit’ a business makes after deducting the expenses of the business off the gross profit figure. Balance Sheet A balance sheet shows the value of a business on a particular date. A balance sheet shows what the business owns and owes (its assets and its liabilities). Fixed assets show the current value of major purchases that help in the running...
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...Health Services Finance I Problem 17.4: a. Perform a Du Pont Analysis on BestCare. ROE = (Total Margin)*(Total Asset Turnover)*(Equity Multiplier) (Net Income/Total Equity) = (Net Income/Total Revenue)*(Total Revenue/Total Assets)*(Total Assets/ Total Equity) ($1,218,000/$2,118,000) = ($1,218,000/$28,613,000)*($28,613,000/$9,869,000)*($9,869,000/$2,118,000) BestCare HMO ROE = 4.25% * 2.9 * 4.66 = 12.3% * 4.7 ~ 57.8% Industry Average ROE = 3.8% * 2.1 * 3.2 = 7.98% * 3.2 ~ 25.5% According to the Du Point equation, BestCare HMO performs above average on all aspects of the business compared to the industry average. For instance, Bestcare HMO manages operating expenses well, maintains a timely asset turnover, and has more assets working per each dollar of equity compared to the rest of the industry. Due to BestCare’s exceptional performance on these three measures, BestCare’s ROE is over twice that of the industry average. b. Calculate and interpret the following ratios for BestCare: Financial Ratio | BestCare | Industry Average | Interpretation | Return on Assets (ROA)Net Income/Total Assets$1,218,000/$9,869,000 = 12.3% | 12.3% | 8% | BestCare generated 12.3 cents in...
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...achieve its goals and downsizing their workforce to avoid bankruptcy. “The single most important policy for solving the problem of overworked and understaffed hospitals is the establishment of staffing ratios, mandating both a minimum ratio of RNs to patients and controlling the ratio of RNs to lesser-trained hospital staff. While management generally opposes staffing ratios, evidence suggests that they have proven effective in the recruitment and retention of nurses. Linda Aiken, founder of the magnet hospital program and perhaps the most widely respected author in the field, argues that unless "a floor for staffing is established, we are not going to be able to stop the flight of nurses from hospitals."169 Similarly, JCAHO President Dennis O'Leary notes, "While mandated ratios are controversial among health professionals, there are established relationships between nurse staffing levels and patient outcomes." He also stresses "achievement of mandated ratios will be meaningless until controls are placed on the numbers of non-nursing tasks that nurses are required to perform."170 Management in hospitals that have adopted such ratios has come to appreciate them. Cape Cod Hospital in Massachusetts, which signed a collective bargaining agreement in 1997 mandating a 1:5 staffing ratio for...
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...Segmentation 7 5. Strategy and Implementation Summary 7 5.1. Marketing Strategy 8 5.2. Sales Strategy 8 5.2.1. Sales Forecast 8 6. Management Summary 8 6.1. Personnel Plan 8 7. Financial Plan 9 7.1. Break-even Analysis 9 7.2. Projected Profit and Loss 9 7.3. Projected Cash Flow 10 7.4. Projected Balance Sheet 11 7.5. Business Ratios 12 1. Executive Summary Fresh Juice Ltd intends to be a city wide chain store offering its products allover the city through their clean mobile push carts. Sales are expected to gross over Ushs. 6,000,000 in the first year and grow at annual rate of 15% over the next five years. Fresh Juice Ltd will be planning to expand its operations to every metropolitan street within the entire city. Sales projections for the next three years will be based on assumption of sales success with the target customer base. Potential target markets have been identified. This plan will result in sales revenues growing to Ushs.6,000,000. 1. Objectives The objectives of Fresh Juice Ltd will be the following: • Create a city-wide sales staff. • Establish strong sales in the city through efficient distribution • Maintain corporate image as market demand continues to grow....
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