Myer Holdings Ltd. and Harvey Norman Holdings Ltd Essay

Myer Holdings Ltd. and Harvey Norman Holdings Ltd - Essay Example by comparing the ratios of both companies for the years 2011 and 2012 individually and among each other in order to arrive at recommendations regarding the best entity for making investments. Myer Holdings Limited is one of the largest department stores groups of Australia being in the fashion industry since last 100 years. However, Harvey Norman Holdings is involved in the sale and distribution of goods under Harvey Norman brands via different independent franchises. The paper also outlines the limitations in the ratio analysis of the financial statements of these Companies. Table of Contents Executive Summary 2 Table of Contents 3 1.0 Introduction 4 1.1 Ratios Analysis 5 1.1.1 Liquidity Ratios Analysis. 5 1.1.2 Leverage Ratios Analysis. 6 1.3 Recommendation and Conclusion 11 References 12 1.0 Introduction This report outlines the ratio analysis of the financial statements of Myer Holdings Limited and Harvey Norman Holdings Limited for the periods 2011 and 2012. The paper also highl ights the limitations of evaluations using ratios analysis. As outlined in the Harvey Norman corporate website the Harvey Norman Holdings Limited is involved in giving the franchise agreements to independent business entities for the supply of household and office equipments under the banner of Harvey Norman. It deals in a wide variety of goods and the business is spread over many geographical regions. (Harvey Norman Company 2008) As per the Myer holdings official website the company claims to be ‘Australia’s largest department store group, and a leader in Australian retailing’ involved in the management and running of departmental stores and retail business especially of fashion goods all over Australia. (Myer Holdings Company 2012) 1.1 Ratios Analysis Accounting ratios are calculated in a way that relationships between two or more figures of the financial statements are evaluated. In this part the ratios provided for Myer Holdings Limited and Harvey Norman Hold ings Limited for 2011 and 2012 are compared. 1.1.1 Liquidity Ratios Analysis. Liquidity is defined as the ability of a company to realize value in money. The liquidity ratios are used to evaluate the financial stability of a company in short term. (Kishore 2009, p.62). The following liquidity ratios are provided in the question: Myer Holdings Limited Harvey Norman Holdings Limited Key Ratios 2011 2012 2011 2012 Current Ratio 0.81 0.88 1.64 1.63 Quick Ratio 0.12 0.11 1.3 1.35 As per Kishore current ratios are defined as a measure of the short term solvency of a company. (Kishore 2009, p.62). It indicates the amount of current assets that are available to discharge every $1 of current liability. The current ratio of 1 or more shows that a company is in a solvent position indicating having enough assets to discharge its liabilities. As per the given ratios it is quite evident that the solvency position of Harvey Norman with a current ratio of 1.63 in 2012 is much better than that of My er Holdings with a current ratio of 0.88 in 2012. It can also be concluded that the solvency position of Myer Holdings Limited have improved by 0.07 from 2011’s 0.81 to 2012’s 0.88. As far as Harvey Norman Holdings is considered there is an extremely minor deterioration in the year 2012 by 0.01. Quick ratio is used to evaluate the ability of a company to discharge its current liabilities from the realization of quick assets (current assets – inventories). This ratio gives out the amount in $ of the quick assets available with the company to discharge current liabilities worth $1. (Kishore 2009, p.63). As evident from the given data, Harvey Norman Holdings Limited seems to be highly stable in this regard with a quick

Answer the question Assignment Example | Topics and Well Written Essays - 5000 words

Answer the question - Assignment Example The teacher would implement a humanist view to teaching and learning in some ways. First, whenever possible, allow each student to choose the activities to complete. They would also teach their students to set attainable academic goals. Finally, the teacher would allow students to participate in group work. Terms frequently used in education are often difficult to define because there are different types of definitions. Constitutive definitions, such as those used in the dictionary, use alternative words to define a term(Fraenkel & Wallen, 2009). The terms can also be defined by example. An operational definition is the working definition of a term for a specific research undertaking. Usually, to develop a working definition, the researcher will modify scholarly definitions of a term to adapt it to their research setting, or assign a value to the term. The term "excellence" may be defined operationally by quantifying excellence. Suppose a researcher investigates the relationship between class attendance and academic excellence. The researcher may define academic excellence as a mean grade of B and above. By this definition, a student who scores a mean grade of B or above is considered to have achieved academic excellence. Otherwise, the student who scores a grade lower than B is considered having not excelled in their studies. There is some truth in the statement that clarity of definition does not always result in effective communication(Fraenkel & Wallen, 2009). This might be the case for some reasons. First, different cultures attach different meanings to the same term. Therefore, in the event that the person defining the term and its recipient are of different cultures, the term may convey a different to the recipient from the one intended by the sender. Even when used within the same culture, a term may fail to convey the intended meaning because it carries many meanings and the person defining it has

Leadership assignment II Example | Topics and Well Written Essays - 250 words

Leadership II - Assignment Example Steve jobs is also a leader that in which all leadership roles are shared among the employees, without the cooperation of each and everyone of the employees it is very hard for him to succeed. An example of a democratic leader is the current US president Barrack Obama. Along with the countries representatives around the world, Obama is categorized under the democratic leader type. He encourages decision making from all directions to meet the expectations of his citizens with different perspectives and personalities. He is a very motivational and Inspirational leader who relies on his party to help him succeed and meet the expectations that his citizens have. Mark Zuckerberg is a good example of autocratic leader. As the inventor and co founder of facebook, he is an autocratic leader because he makes his own decisions and is able to figure out what is best for the company without the help, guidance and persuasions of others. He is also required to make important decisions quickly as they may greatly affect or influence the success of the company. His employees and users depend on him to make the best choices for the company and

ACCION International Essay Example | Topics and Well Written Essays - 250 words

ACCION International - Essay Example These initiatives aimed at improving economic growth in the places that had been affected by acute poverty. This article will provide a general opinion regarding the readings concerning the economic performance. This organization provided financial services in the form of loans and business training to enable the poor individuals to sustain a decent lifestyle. In both cases, they have developed microfinance institutions that are able to achieve several financial factors (Chu 5). This enables them to attain a significant scale in the market. All contributions made were directed to the economic development of the poor countries. Therefore, they used two methodologies to develop commercial microfinance institutions. The first method involved performing a transformation of the Non-Governmental Organizations to microfinance institutions. The second priority was based on creating equity funds, which will enable to provide a capital base for the microfinance institutions (Chu 9). The Non-Governmental Institutions could also be transformed into financial institutions to manage the economic crisis. In conclusion, this will enhance partnership in most commercial banks and maintain a strong leadership position in the microfinance industry. Furthermore, the transformation will entail the development of certain methodologies that enable the microfinance institutions to serve individuals from the low-income population. This will substantially boost the outreach of the microfinance segment in the society (Chu 17).

Creg Seager Essay Example | Topics and Well Written Essays - 1500 words

Creg Seager - Essay Example As the discussion stresses  Creg Seager is brought about as a contemporary Christian as he has done great things with his skills as a nurse. He travels to different countries preaching the word to the needy and providing medical services. Creg Seager takes the responsibility of helping in bringing glory to God. It means that the Creg Seager takes the jurisdiction of conducting and giving instructions and acting as an example of the best ways of praising and worshipping God.This paper highlights that  Creg Seager demonstrates that time is important resource that cannot be reversed if put into bad use at any cost that makes it vital. In any organization time is the key factor determining what is to be done at what time and what achievements are to be in place before or after a specific time.   Time management helps achieve specific achievements within a given period. A manager should have good management skills to ensure that there is consistency within the organization. An effec t leader delegates staff into doing specific duties within a given time frame. It helps in identifying priorities, avoiding multitasking and reducing disruptions. To demonstrate this, when a leader has good time management skills, he/she can divide tasks among the employees, accomplish certain priorities first and gives ample time for every activity. Creg has proven to be an efficient time manager by performing different tasks at specific time. This is brought about by the location of adequate time to visits in different countries.

Post Colonial World Essay Example for Free

Post Colonial World Essay Colonialism has been a large factor in the development of the world, particularly in the past three centuries, from the 18th to the 20th century. Colonialism has been so important because it was so widespread. With large historical empires like those of Great Britain and France reaching out and colonizing nations from India to the continent of Africa in hopes of being able to gain access to the natural resources found there, colonialism was to effect almost every nation in one way or another. While colonialism did open up the world to greater trade and disbursement of many aspects of another culture to Europeans and, eventually, to Americans, the colonizing of these countries created difficulties and problems in the colonized nations. The fact is that the post-colonial world is nothing but a product of the colonial period and colonialism creates a whole new set of problems that do not go away even after the colonizing nation has pulled out; in fact, more problems develop.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Colonialism was a major aspect of modern world history as it really did transform the world. The remnants of this can still be felt today. In Africa, many African nations have French or English as their official language, as in the Ivory Coast or South Africa, because of the lasting effects of colonialism. In England, remnants of their colonialism of India are still felt in things as small as a love of Indian cooking, and in India the memories of children being forced to learn at English schools are still remembered. The lasting effects go much deeper, however, than simpler a transference of a nation’s vibrant culture, or the adoption of an official language. Post-colonialism, in its essence, is the philosophy that many problems arise from colonizing a nation, not the least of which is the loss of a national identity and, perhaps even more unsettling, is the fact that when a empiric power pulls out of a colonized nation, leaving them alone to fight for themselves and create their own way, sometimes centuries after overtaking them, the colonized nation is lost and goes through a period of war and infighting to try and find their place in the world as their own nation, and not a puppet nation.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The many wars, uprising, and political instabilities found in post-colonial nations like India and many countries in Africa are directly related to the Colonial period. An example of this can be found in South Africa where long after the British had colonized the country the remnants of their civilization was left behind. Apartheid, in its ugliest form, was left behind and the way that the white people in South Africa treated the black people in their own homeland has been widely publicized, interpreted and studied in historical studies. Even today some tensions exist in South Africa and they are still trying to maintain their own national identity in the light of post-colonialism. This can be seen in nations around the world who have been colonized.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The colonial period was a time of large powerful empires and nations that did not have the means or the military might to defend themselves from being colonized. The countries that were colonized during this period faced problems that they had never faced before, including a lack of a national identity and having to deal with the fall out when their colonizing power pulled out. Much of the difficulties of the post-colonial period trace their roots back to the colonial period and most particularly to the ruling nation that took over their nation and changed their way of life.

United States Economic Situation Essay Example for Free

United States Economic Situation Essay The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a two-tier labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. In addition to dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and  industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years two-thirds on additional spending and one-third on tax cuts to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that will extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care public plus private rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are too big to fail, and improving accountability and transparency in the financial system in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits including significant budget shortages for state governments.