Essay On Youth Drug And Alcohol Abuse - 904 Words

Youth Drug Alcohol Abuse A large number of youths’ battle with substance dismantlement each year. School-based aversion and treatment programs have attempted to battle the major issues that originate from liquor and medication utilization, yet the measurements appear to just be deteriorating. As indicated by Shekhtmeyster, Sharkey, and You (2011), youthful substance builds the danger of huge psychological wellness issues, for example, sorrow, nervousness, and reliance upon these substances (p.386). A clearer comprehension of successful factors inside substance exploiting projects ought to be inspected and assessed so as to enhance future counteractive action and treatment programs went for aiding in danger youth with substance abuse.†¦show more content†¦Mixed Methods. A mixed methods approach consolidates the utilization of qualitative research and quantitative research to illuminate each other and increment legitimacy. Sheperis, Young, and Daniels (2010) clarify t hat mixed methods configuration is a perfect system for counseling research since the qualitative research indicates how counselors connect with clients and the quantitative research demonstrates how counselors conceptualize client issues. Considerations when choosing to utilize a mixed methods configuration are: decide the request you will actualize the qualitative and quantitative parts of your examination, decide the noteworthiness that will be given to the data, decide how the two sorts of data will be joined, and decide the hypothesis that will manage your plan (Sheperis, Young, and Daniels, 2010, p.193). Quantitative Designs. The objective of quantitative research is to depict a marvel or make derivations in view of a specific wonder by utilizing an expansive number of members and quantifiable, objective hard data that permit statistical control and generalizability crosswise over different populations (Sheperis, Young, Daniels, 2010). Overviews and test methods take into account extensiveShow MoreRelatedDrug Abuse And Adolescent Risky Behavior884 Words   |  4 Pagesput themselves at risk in order to have these novel experiences (p. 392). This essay will attempt to discuss how the brain is developing, being impacted, and, how spiritual development effects adolescent risky behavior. Risky behaviors can include any behavior that is seen by most as deviant social behavior. For example, drug abuse, sexual promiscuity, eating disorders, alcohol abuse, etc. These behaviors occur in youth for a number of reasons and can range from being mild to severe. Some reasonsRead MoreJuvenile Delinquency, A And Violent Criminal Activities1530 Words   |  7 PagesAngel Martinez Sociology 348 March 26, 2016 Juvenile Delinquency Analytical Essay In the country we live in today the number of juvenile delinquents in America has grown rapidly. There are many different theories on why society may think juveniles commit crimes. Some believe it can be due to that lack of attention or their low self-esteem and even the lack of support they receive from their parents. Delinquency is found in all nations and is particularly popular in highly industrialized nationsRead MoreAgainst The Legalization Of Drugs1671 Words   |  7 PagesAgainst the Legalization of Drugs Legalization of drugs is an increasingly hot topic in today’s society. It is one of that needs vast advancements in research and treatment for addicts to prevent the moral and legal obligations, as well as the severe health ramifications that come along with addiction of these powerful drugs. To legalize drugs would be detrimental to the family unit as well as our youth and have serious health consequences at an alarming rate. James Q. Wilson, author of, â€Å"AgainstRead MoreEffects Of Soft Drugs On Society, And On Adolescent Youth1605 Words   |  7 Pages1 Introduction I have written this essay in response to the essay prompt Recreational use of soft drugs such as marijuana or ecstasy is less harmful than alcohol consumption and therefore should be decriminalised. In this essay I will talk about the effects that soft drugs have on society, and on adolescent youth. I will also talk about my position on this matter, and what I believe is the right course of action to take in regards to the essay prompt. After learning about the issues regardingRead MoreEssay on Youth Suicide1214 Words   |  5 PagesYouth Suicide Introduction Suicide is a tragic event. It has a profound personal effect on all associated with the person who died. Families, friends and society as a whole are affected. There is a particular poignancy when the suicide is that of a young person at the threshold of life. Australia has the fifth highest suicide rate per 100 000 persons in the world. While suicide is highest among males, suicide attempts are higher among females and youth suicideRead MoreAddiction: More Than Just a Word Essay example1279 Words   |  6 Pagespointing out the dangers of alcohol.† (Kramer, LizSprague, Nancy, Alcohol Abuse Youth: An Overview). Children do not understand the effectiveness of something powerful like alcohol. They do, however, understand that alcohol can cause a person to become intoxicated. From seeing it on TV, they think it is fun. Also, children do not really pay attention to the awkward conversations they have with their parents. A lot of young people think they know more about alcohol and drugs than their parents doRead MoreTo What Extent Should The Drinking Age Be Lowered?867 Words   |  4 Pagesit’s illegal for anyone under the age of 21 to buy or possess alcohol, people under the age of 21 accounts for 17.5% of consumer spending for alcohol nationwide and 90% of that is consumed through binge drinking (Tracy). According to the 2012 National Survey on Drug Use and Health, about 9.3 million Americans between ages 12-20 report current alcohol consumption (Distillers Fighting). With alcohol being one the most commonly abused drugs and soon to pass tobacco on the cause of death list, the poseRead MoreFactors Of Teenage Drug Abuse1198 Words   |  5 PagesFactors Of Teenage Drug Abuse Introduction Teenage drug abuse has been the controversial issue that influences our societies, results in health hazard, academics, peers, family as well as an increase in juvenile delinquency. According to the latest statistics conducted by Health Social Care Information Centre (2013), 17 % of pupils in the UK have tried illicit drugs in 2012, indicates the constant decrease in the prevalence since 2001, but it could be the tip of an iceberg and more school-childrenRead MoreSubstance Abuse Among Adolescent Youth Within Canada2063 Words   |  9 Pages In this essay I will be discussing the topic of substance abuse amongst adolescent youth within Canada. I will be reviewing topics of interest revolving around various types of street narcotics, alcohol consumption, and psychoactive drug use. Although substance abuse is a global issue, I will be focusing primarily on studies, and research done on the effects and impacts on Canadian youth. Thought the course of this essay I will also be touching on the various effects, that come with the continuousRead MoreSociological Imagination1059 Words   |  5 PagesThroughout this essay the sociological imagination is used to analyse the historical, cultural and structural reasons for drug use and abuse. Within this parameter the sociological imagination is applied, using studies research conducted in the United Kingdom, Australia, Russia and the United States. The sociological imagination was defined by Charles Write Mills as a ‘quality of mind’. (Mills quoted by Germov, Poole 20 07: 4 ) It is stimulated by an awareness to view the social world by looking at

Genetically Modified Foods ( Or Gm Foods ) - 1682 Words

Genetically modified foods (or GM foods) will be foods delivered from organisms that have had particular progressions brought into their DNA utilizing the systems for hereditary engineering. These strategies have taken into consideration the presentation of new traits and in addition a far more prominent control over a food s hereditary structure than formerly managed by routines, for example, selective breeding and change breeding. Business offer of genetically modified crops started in 1994, when Calgene initially marketed its Flavr Savr deferred ripening tomato. GM livestock have additionally been tentatively created, despite the fact that as of November 2013 none are as of now on the market For my exposition I have chosen the technology of hereditary engineering with its application in the field of generation of genetically modified food. This paper will investigate a large portion of the social and ethical issues connected with Genetically Modified Foods (GMO s) in our food supply. Particular center will be given to the specialized parts of hereditary alteration, conceivable positive and negative impacts of genetically modified foods, laws on genetically modified foods in the United States. The objective by covering these differing themes is to help the peruser be generally educated of all perspectives in regards to genetically modified foods so they can go to their ethical stance. We recommend that the administration make a law obliging the marking of all GMOShow MoreRelatedGenetically Modified Foods ( Gm Foods )1203 Words   |  5 Pages Genetically modified food tendency in market during recent years Genetically modified foods (or GM foods) are foods produced from organisms that have had specific changes introduced into their DNA using the methods of genetic engineering. These techniques have allowed for the introduction of new traits as well as a far greater control over a food s genetic structure than previously afforded by methods such as selective breeding and mutation breeding (GM SCIENCE REVIEW first report P9). The termRead MoreGenetically Modified Food ( Gm Food ) Essay1464 Words   |  6 PagesHunger and malnutrition of the rapidly growing human population is one of the major problem faced by the present world. Genetically modified food (GM Food) is the solution offered by our scientific community to cope with this problem.The food produced on a massive scale, by direct or indirect involvement of genetically manipulated organisms is called genetically modified food. Advancement of Biotechnology resulted in a novel method of artificial genetic manipulation called Genetic engineering. ItRead MoreGenetically Modified Food ( Gm Food )1724 Words   |  7 Pagesapplied to different fields such as animal biology, agriculture, or in microorganism. [8] Ever since the first genetically modified food (GM food)- Flavr Savr tomato- was invented in 1994 [16], genetically modified food has been at the center of controversy in terms of its suitability for human consumption and its effect on the biodiversity of naturally evolved organisms. Monsanto is the largest GM seed producer in North America to the extend that â€Å"80 percent of U.S. corn and 93 percent of soy grown fromRead MoreGenetically Modified Food and Gm Foods4570 Words   |  19 Pageswhat they eat. The relationship humans have with food is unappreciated. Food is the fuel that keeps humans going, gives them the energy needed to be creative and productive; it is the building block of society, a fter all, it wasn’t until the Neolithic Era, when humans figured out a way to domesticate plants and animals, that any form of organized society formed. Even during the previous hunter-gatherer foraging era, humans were very connected to the food they ate; understanding where it came and havingRead More50 Harmful Effects of Genetically Modified (Gm) Foods14312 Words   |  58 Pages50 HARMFUL EFFECTS OF GENETICALLY MODIFIED (GM) FOODS In a sentence This article outlines the many harmful effects of GM or genetically-modified foods (known also as genetically-engineered foods) and representng lab-created GMOs or genetically-modified organisms. By Nathan Batalion, ND We are confronted with what is undoubtedly the single most potent technology the world has ever known - more powerful even than atomic energy. Yet it is being released throughout our environment andRead MoreAre Genetically Modified Foods Safe and Nutritious? Essay1568 Words   |  7 PagesAre Genetically Modified Foods Safe and Nutritious Genetically modified (GM) foods have taken over the traditional methods of farming by now being planted in over a quarter of the world’s farm land and it is essential that they are labeled for all consumers to see. These genetically modified foods have taken a toll on not only the environment, but human health as well. Those that agree with the genes of crops and other foods being spliced to create a more â€Å"beneficial† product for man state thatRead MoreMandatory Labeling Of Genetically Modified Foods1726 Words   |  7 PagesMandatory Labeling of Genetically Modified Foods The late nineteenth century brought forth some of the most breakthrough scientific discoveries. One such breakthrough were Genetically Engineered (Modified) Organisms which were initially meant to reduce world hunger by being able to mass produce crops and also allow the produce to have a longer shelf life and be more ripe. However, the increasing methods of germinating crops and new, more compelling evidence from thorough scientific research has ledRead MoreGm Food Research Paper1341 Words   |  6 PagesAre Genetically Modified Food Harmful to Human Health? Genetically Modified food is a technology that changes the genetic information of living organisms to make them more useful to human. This new technology was created through the combination of different genes from different living organisms. Genetically Modified food could be utilized in medicines, vaccines, foods, and other food ingredients (Genetically Modified Foods and Organisms). However, the most significant advantage of GM (GeneticallyRead MoreBenefits Of Genetically Modified Foods1647 Words   |  7 Pages What foods are genetically modified? Well, most food that â€Å"contains sugar from sugar beets, soy, or corn,† is genetically modified (Mercola, 2015, p. 4). Most people consume genetically modified, or GM, foods every day without even being aware. While some do avidly monitor their food consumption and avoid GM foods, others simply eat GM foods because, to them, GM foods seem safe to consume. In â€Å"Genetically Modified Foods Are Not Safe to Eat,† o steopath, Joseph Mercola, advocates his concerns of consumingRead MoreWhat Is Gm Foods And The Process Of Producing Gm Food Essay987 Words   |  4 Pagespaper will explain the meaning GM foods and the process of producing GM foods. Furthermore, some of the GM foods available in the market today will be enumerated. A brief explanation of the genetic alteration made to the some of the GM foods mentioned in the paper will be enumerated. Since the genetic engineering of foods has always been a controversial topic in the society, this paper will address some the concerns the society has about the consumption of GM foods. Furthermore, a section will be

Abortion Is A Controversial Topic - 1861 Words

Abortion is a highly controversial topic. The definition of an abortion is â€Å"the deliberate termination of a pregnancy†. Pro-lifers believe that life is precious, and should not be allowed to be ripped away because of another person’s mistake. Pro-choicer’s believe that it should ultimately be women’s decisions, seeing as they are the ones most directly involved. Both have arguments and counterarguments, neither being able to find a common ground. As society is developing, more people are beginning to lighten their views on life. They are starting to look at small details, such as what society will thing, instead of looking at the big picture. Nevertheless, the amount of women choosing to get an abortion is slowly inclining. Be that as it†¦show more content†¦Less common, but still apparent symptoms include: â€Å"cramping of the uterus or pelvis, warmth, chills, headaches, fatigue, loss of fertility, hemorrhages, and in rare cases, death.â € (TDOH). Abortion and Cancer records indicate that â€Å"the rates of cervical, ovarian, breast and liver cancer are greatly increased by abortion† (ACCA). In her article Abortion Risks, Melinda Reist states â€Å"women with a history of one abortion face a 2.3 times higher risk of having cervical cancer†. In addition to the damages of cervices â€Å"women who receive abortions often have difficulty conceiving or carrying future children to term† (ACCA). According to studies by the Elliot Institute â€Å"30% to 50% of women report experiencing sexual dysfunctions† as well. Most women receiving abortions do not consider the worst risk, death. The statistics from the Texas Department of Health display â€Å"there is one death per every 530,000 abortions at 8 weeks or less, one death per 17,000 abortions in 16-20 weeks, and one death per 6,000 for 21 weeks and over†. There are obvious elements of an abortion that can compromise a women’s p hysical well-being. The physical effects can be tremendous, especially when accompanied by emotional effects also. There are many emotional difficulties that can stem from receiving an abortion. The Rhode Island Right to Life Organization explains â€Å"many women who have abortions are extremely uneasy about

Dystopian Society In 1984 By George Orwell, And Harrison...

Imagine a world in which people were controlled by fear. Dystopian societies are mostly controlled by a mean and power hungry leader which makes it hard for the citizens grow, themselves and have their own thoughts.Some of the citizens don’t really know they are being controlled and others are wide awake but scared to speak up and rebel against this power hungry leaders. The works â€Å"1984 by George Orwell, â€Å"Brave New world by Aldous Huxley, and Harrison Bergeron† by Kurt Vonnegut all have dystopian elements with varying degrees of sacrifice and gain. In general dystopian societies offer being equal and unwanted thoughts; however, citizens sacrifice differences, self control, and freedom of the mind which as shown in the text can lead to†¦show more content†¦In 1984, freedom of say and do was being sacrificed because the citizens of Oceania had to think the same and act the same or they will be â€Å"vaporize† or torture to love big brother. In t his quote â€Å"the picture had fallen to the floor uncovering the telescreen behind it, now we can see you† (Owell 182-183) explains how the citizens of Oceania can’t say there own thoughts freely because thinking outside the box or beyond will cause people to rebel or act against big brother. In Brave New World self control is being sacrificed. This quote â€Å"everyone one works for every one else, we can’t do without any one, even Epsilons.†(Huxley 91) explains how one citizens who is John the savage lets us think how it only affects the people who are in control and not the people they are controlling.In Harrison Bergeron, people had to sacrifice differences in people and body image which they forced their citizens to be handicap. This quote â€Å"not only were the laws of the land abandoned, but the law of gravity and the laws of motions as well.†(Vonnegut 44) explains Everyone sacrifices something for their own good or for the future generat ion but is the sacrifices worth it? Yes I do believe there sacrifices are worth it because of all the benefits they get like happiness, equality and protection. The benefits the citizens sacrifices are worth it because no one is left out but if they left outShow MoreRelatedThe Dystopian Novel, By George Orwell, And Andrew Niccol s `` Harrison Bergeron ``1222 Words   |  5 Pagesstrength (Orwell 7) this is one of the very many slogans that were used to control society in George Orwell s piece 1984. Dystopian literature is a futuristic universe that is oppressive and uses bureaucratic, totalitarian, and/or technological control to control society. In Orwell s Dystopian book 1984, Kurt Vonnegut, Jr s short story Harrison Bergeron, and Andrew Niccol s film In time, there are many examples of a Dystopia is that contain a lot of comparisons between the stories. Dystopian literatureRead MoreA Dystopian Society By George Orwell954 Words   |  4 PagesA dystopian society is one with re stricted freedom, whose values are worshipped by citizens who live in fear of surveillance or punishment. In 1984 by George Orwell, the protagonist lives in a futuristic world, controlled by big brother and the inner party over aspects of human life. In Harrison Bergeron by Kurt Vonnegut Jr, the fear of egalitarian policies, and the dangers of equality take over. In The Purge by James DeMonaco, the citizens relief to self-regulate violence and to protect themselvesRead MorePerfection And Utter Disaster : A Utopian Society1500 Words   |  6 Pagesline exists between perfection and utter disaster. A society may appear to be idealistic from the outside looking in, but in reality, knowledgeable people living in these worlds know deep down that the society is corrupt. A utopian society is considered â€Å"an imagined place or state of things in which everything is perfect† (â€Å"Utopia†). Since a utopian society is not realistically feasible, it generally spirals into a dystopia. This is a society identified by â€Å"human misery, as squalor, oppression, diseaseRead MoreA Dystopia Is Not A Contemporary Idea2159 Words   |  9 PagesA dystopia is an unpleasant and repressive society which usually has the intent to make equality an opportunity for all. 1984 and â€Å"Harrison Bergeron† are two examples of dystopia literature. In each, technological advances and psychological stimuli is designed to overwhelm an individuals thought. Based upon these pieces of literature, is it possible for a utopia exist? For clarification purposes, there are some definitions to keep in mind when reading this essay. The dictionary defines a utopiaRead MoreGeorge Orwell s The Film V For Vendetta Directed By James Mcteigue1989 Words   |  8 PagesIn society, people often look up to our government to provide honourable and righteous justice that upholds our basic human rights .Through the analysis of dystopian texts including 1984 written by George Orwell, Harrison Bergeron by Kurt Vonnegut Jr, and the film V for Vendetta directed by James Mcteigue, the concept of a totalitarian government that exerts control over to the senses is explored throughout all these texts. The stripping of privacy and freedom demonstrates this control over the massRead MoreDystopian Heroes1106 Words   |  5 PagesDystopian Heroes A dystopian society mainly asks one question and that is, â€Å"What if?† Typically, their government, beliefs, and way of life are different from what we would find normal. All the literary works demonstrate a society unlike ours including: To Kill A Mockingbird by Harper Lee, Brave New World by Aldous Huxley, â€Å"The Lottery† by Shirley Jackson, â€Å"Harrison Bergeron† by Harrison Vonnegut, â€Å"The Pedestrian† by Ray Bradbury, Anthem by Ayn Rand, 1984 by George Orwell, and Life As We Knew ItRead MoreA Utopia By George Orwell1993 Words   |  8 PagesThe world is entrenched in a perpetual search to become a better place: trying to advance technology and society to reach high standards. It is continually working towards perfection with an end goal of achieving a utopia. However, the end goal may never be reached because after all, most utopias become dystopias. Utopias are meant to be impeccable societies with perfect life and people. The downfall i s that the quality of flawlessness is not attainable. There are selfish people everywhere who takeRead MoreComparing The Station Twelve And Brave New World By Aldous Huxley1112 Words   |  5 PagesIn my report I have chosen to examine the four texts of ‘Station Eleven’ by Emily Mandel, ‘Brave New World’ by Aldous Huxley, ‘1984’ by George Orwell and ‘Harrison Bergeron’ by Kurt Vonnegut from the dystopian genre. Throughout these texts, I studied the two connections: the use of Shakespeare and the setting of a totalitarian government. The texts Station Eleven and Brave New World both use Shakespeare as a symbol of art and culture. In Station Eleven, Mandel uses this symbol to tell us how importantRead MoreFahrenheit 451 Critical Essay1607 Words   |  7 Pagesthinking and a free flow of ideas. But in some societies, governments try to keep their people ignorant. Usually, this is so governments can keep people under control and hold on to their power. In trying to keep people from the realities of the world, these oppressive governments can end up damaging or even destroying their society. The protagonist of Fahrenheit 451 is Guy Montag, who has spent his life in a state of ignorance, like most people in his society. In fact, he works as a fireman, a feared

Financial analysis of BG and Shell Free Essays

INTRODUCTION According to the requirements stipulated in this assignment, this essay would be analysing two companies: BG group Plc and Royal Dutch Shell Plc. Both companies are oil and gas producers and they operate in the integrated natural oil and gas industry. They are involved in the exploration, development, production, and marketing of gas and oil. We will write a custom essay sample on Financial analysis of BG and Shell or any similar topic only for you Order Now They are both quoted in the oil and gas industry sector of the FTSE 100 index. a. Background of the Oil and Gas Industry Over the last 50 years, the oil and gas industry has been by far the most successful industry in Britain; providing employment to 380,000 people, adding ?4 billion a year to balance payments and a massive investment over the last 25 years by ?150 billion. This sector has reinforced the British economy by supplying the energy and necessary chemicals for its transport industry and homes. Additionally, since the 1970s, the oil and gas industry generated ?150 billion in taxes and valuable export revenues. b. Royal Dutch Shell Royal Dutch Shell is a Multinational corporation consisting of two companies: Royal Dutch Petroleum Co., of Hague, Netherland, and Shell Transport and Trading Corporation PLC of London, England. These two companies commenced as rivals. In early 1897, Marcus Samuel took over his father’s business and began selling kerosene. After this, he shifted to the oil industry in East Asia and created Shell Transport and Trading Co., Ltd. At same time, in 1890 the Royal Dutch Co was established by a group of Dutch businessmen (Mallin, 2006). The aim of the company was to explore the Oil Wells in the Dutch Indies. To achieve these targets, in 1892 it constructed the first refinery in Sumatra, Indonesia. It was not until 1907 when the two firms merged to become the Royal Dutch Shell Group. The company has become known in different countries such as Egypt, Mexico, Iraq, Romania, Russia and Venezuela. Shell emerged as the largest energy company and the second largest company globally regardin g its revenues. The main interests of this company are liquefied natural gas and petrochemicals, aviation, shipping, and automotive fuels. c. BG group Plc. BG Group plc is one of the most successful companies in the FTSE 100 index. It operates in the integrated natural oil and gas market and engages in the exploration, development, production, and marketing of gas and oil. The company’s headquarters is in Thames Valley Park in Reading, Berkshire, United Kingdom. It is an international firm which operates in 25 countries across the world and produces 680 000 barrels of oil per day (Jahn et al., 2008). The company was founded in 1997 when British Gas plc divested Centrica and became BG plc, which was reorganised in 1999 as BG Group plc (Bryant, 2003). Question 1: Analyse the liquidity, profitability and use of short term assets and liabilities of the two companies you have chosen and compare the ratios with the sector average and explain how the two shares have performed compared with the FTSE during the last financial year. In order to assess the liquidity situation of both companies along with profitability condition, different liquidity ratios have been analysed based on the companies’ annual reports 2010 and Yahoo 2011 financial website for the year ended 2010. The liquidity ratios of BG group and Royal Dutch Shell are illustrated in Figures 1 and 2 (for full tables see the Appendix). Royal Dutch Shell has maintained relatively stable current and quick ratios. Current ratio illustrates whether or not a company maintains enough resources to pay back its debts over the coming financial year (Watson, 2006). It is determined by the ratio of net current assets to net current liabilities. For Shell company the ratio increased by 7.45% over the 5 years period. Furthermore, the current ratios of the last five years exceeded one, which proved that Royal Dutch Shell would be able to honour all its short-term liabilities by its current assets without the need to utilise other sources; such as issuing shares or using new debts. Therefore, this gives clear evidence that the firm’s liquidity situation is in excellent health. The quick ratio represents the ability of a firm to utilise its cash/assets to cover its current liabilities instantaneously , which is calculated as a ratio of total assets to total liabilities. This has fallen by 8.87% over the past five years to 1.8669 in 2010. In 2010, the current and quick ratios of Royal Dutch Shell were 1.1227 and 1.8669. These are below the average ratios of the company over last five years: 1.15694 and 1.88726 respectively. This ideally shows that the liquidity of the company has been slightly decreasing in recent years. Figure (1): Current and Quick ratios of Royal Dutch shell over the last 5 years On the other hand, the quick ratio of BG group has also decreased over the last five years; it began with 2.13 in the first period and decreased to reach 2.0389 in 2010. Moreover, the current ratio also diminished from 1.4684 to 1.1214. One reason could be that the reduction in the firm’s liquidity is as a result of the major issues that have affected the oil and gas industry recently. For instance, the oil spill in Mexico, and the massive impact on BP and other oil companies caused cost of drilling and exploring call in certain regions to rise. Figure (2): Current and Quick ratios of BG group over the last 5 years According to Watson (2006) having a liquidity ratio over one is not enough to assess whether a firm would have difficulties to confront any short term risk arising from the liabilities and, for this reason, the company’s current ratio should be compared to the overall industry or sector average ratio. Hence, after comparing the current ratios of both companies to the average of eight leading companies in major integrated oil and gas industry (see Appendix), the two companies hold almost the same amount of current ratio (1.12). However, they were below the average ratio of the industry by 8%. In a conventional industry, if the current ratio is over one then it is a good indicator. However, in major integrated oil and gas industries the average ratio is 1.2 which imposes on the two companies to adjust their ratio, or else they will face increasing threat of being cash strapped if they are not able to increase profitability, cash flow or reduce liabilities. The profitability ratios of Royal Dutch Shell Plc and BG group Plc were calculated based on its ROE, ROA, profit, operating and gross profit margin. These were all compared to the average industry in order to draw an accurate representation of the companies’ financial situation. For both companies, Return on Equity and ROA exceeded the average sector by 1.63 and 2.62 for BG group Plc, and 1.7, 0.33 for Royal Dutch Shell Plc respectively. However, BG group Plc overperformed Royal Dutch Shell Plc and industry regarding the profit and operating marginal, but both companies were overtaken by the industry gross profit ratio. Profitability ratios attempt to determine a company’s ability to use and control its assets and expenses in a rational manner to generate acceptable rate of return (Buckley, 2004). Based on the ratios calculated, both companies have been able to improve their profitability sufficiently over the average sector ratios. In summary, both companies are liquid firms and have been able to withstand the effects of the oil spill and oil price increases through effective cash management. They have constant and above average liquidity ratios, positive networking capital and acceptable profitability ratios. Figure (3): Percentage change in stock price for BG group, Royal Dutch Shell and FTSE 100 index Key: BG.L (blue): BG group Plc; ^FTSE (red): FTSE 100 index; RDSA.L (green): Royal Dutch Shell plc. Source: Yahoo Finance (2011) As illustrated in Figure (3), the stock market prices of BG group and Royal Dutch Shell fell during the middle of 2010, specifically in early May. The oil spill by BP in Mexico had hugely deteriorated the market value of both stocks. However, the stocks of both companies tended to increase after the oil spill issue was solved. Moreover, the stocks of both companies and FTSE 100 seem to move in same manner to reach their peak by the end of 2010. In the beginning of 2010, both companies and FTSE100 stocks were moving in very close way, but the Mexico’s oil disaster caused investors to walk away from investing on oil companies’ shares. By the end of August 2010 stocks of both companies started to rise, along with FTSE 100, and by the end of 2010 all stocks of both companies and FTSE 100 reappeared to move in the same way but with higher values. Question 2: Critically evaluate each firm’s choice of capital structure and how their method of financing has affected shareholder wealth and explain whether or not it is possible for a company to have an optimum capital structure. The capital structure of a company, as defined by Fridson and Alvarez (2002), as the ratio to which the company’s operating, financing or investing activities are financed through debt and equity. It is simply a ratio of the company’s debt to its equity, otherwise known as gearing or leverage. The capital structure determines the long term functioning capacity and also its attractiveness to banks and investors (Watson and Head, 2006). Consequently, the capital structure is an indicator of the company’s financial fitness. As illustrated in figure 4 below, Royal Dutch Shell’s capital structure is based mostly on equity. Its gearing has fallen to over 85% in 2010, compared to 87% in 2009. This is due to falling profits. However, the amount of equity is five and half times the amount of debt. Therefore it represents a low geared company that relies on equity to finance a vast majority of its activities. Figure 4: Comparison of the capital structure for Royal Dutch Shell between 2009 and 2010 A company that is considered as low-leveraged has complete freedom in its operations without the need to be concerned about issues that debt may have due to inaccessibility to future credit. Figure 5: Capital structure of BG group Plc between 2009 and 2010. Examining BG group Plc’s capital structure above shows that its gearing has increased by 4.8% to move up to 25.2% in 2010. The balance sheet therefore shows that it has changed its capital structure by increasing levels of debt from $19.212 billion to $23.615 billion, as well as also increasing shareholder equity from about $23.23 billion to over $26.684 billion in 2010. However, the debt increase exceeded the equity increase, thus resulting in a debt/equity ratio increased (BG group Plc, 2010). Furthermore, analyses of the company’s financial annual report illustrates that it has issued ˆ750 million and ?750 million of bonds maturing in 2019 and 2025 respectively. Both of these are under the euro medium term note programme, and $350 million and $650 million of bonds maturing in 2015 and 2020 respectively could be taken as strong evidence that the company has shifted its system of rising money from equity to debt by issuing bonds. Therefore, measuring BG group’s capital structure based on its ability to repay future debts may be difficult due to the massive bond issues, which considerably exceeds the net amount raised from equity. Judging by the current credit markets in which loan provisions are scarce and conditions for getting one are hard, BG would have slightly more difficulties than Royal Dutch Shell in obtaining working capital or long-term loans. Though its capital structure does look healthy from an external point of view, comparing the average sector debt to equity ratio which was 37.45% in 2010, both companies are in excellent positions as both of them are far away from any risk of interest rate volatility. Therefore, a good conclusion could be drawn about the ability of both companies to meet interest repayments, and to operate in an efficiently manner to expand their business as a result of their relatively low liabilities. As mentioned, Fridson and Alvarez (2002) state that capital structure refers to the manner in which an organisation finances its assets; this could be either by combination of equity, debt, or hybrid securities. The relationship between capital structure and company value has fuelled the researcher’s interests to conduct more research on this area. According to literature, the debate has concentred on whether there is an optimal capital structure for a firm or the proportion of debt used in constructing the capital is irrelevant to the firm’s value. The Modigliani-Miller theorem states that under a certain market characteristics such as: price random walk, in the absence of taxes, agency costs, asymmetric information, and bankruptcy and in an efficient market, the proportion of debt which has been used by company will not affect its value moreover it does not matter how the firm is financed (issuing stocks or selling debt). The Modigliani-Miller theorem is generally called the â€Å"capital structure irrelevance principle†(Hatfield et al., 1994). The aim of this theory is to establish capital structure which balances the risk of bankruptcy with the tax savings of debt. Therefore, it would provide better returns to shareholders than they would receive from an all-equity firm. Despite its theoretical appeal and all efforts behind it, academics and practitioners in financial management have not found the optimal capital structure yet. The only prescription that could be achieved is to satisfy short-term goals. The main flaws of this idea are that it fails to consider either the complexities of the competitive environment, or the long-term survival needs of the organization. According to Welc (2008): â€Å"The fact that an optimal capital structure has not been found is an indication of some flaw in the logic. We believe that the original question was framed incorrectly. Rather than: What is an optimal mix of debt and equity that will maximize shareholder wealth; it should have been: Under what circumstances should leverage be used to maximize shareholder wealthWhyBecause debt and equity have profound long-term implications for corporate governance that far exceed the exigencies of the moment.† Question 3 Explain whether or not the share price on the 5th of November represents fair valuefor would be investor and explain whether or not the investor ratios give a guide as to the future share price. Critically evaluate the arguments for and against the efficient market hypothesis and explain how the npv criteria relate to investing in shares. The term, â€Å"market efficiency†, has always been a fundamental concept in the financial literature. It describes the decisive impact of information on the price of financial assets and economists refer to it as operational efficiency, highlighting the way resources are utilised to ease the workings mechanisms of the market. However, the most common definition was provided by Fama (1970) who stated that at any given time, securities’ price on a particular stock market fully reflects all the available information on this stock market. Hence, according to the efficiency market hypothesis (EMH), all investors have access to the same information that is already available on the market; therefore, no advantage is taken from private or inside dealing information. In other words, market efficiency reflects the impact of changes in information about a given security on its price. Favourable information is expected to result in an immediate increase in a security price while u nfavourable information will have the opposite effect. The efficient market hypothesis is linked with the term â€Å"random walk† which has been used in the financial literature to refer to a price series where all changes in the prices reflect a random change, regardless of previous prices. This concept emerged from the works of Kendall (1953) and Roberts (1959) where, after analysing the UK stock and commodity prices series and the US stock market, they found clear evidence that the prices change randomly. The logic behind the random walk concept is that if the information is instantly reflected in stock prices, then the day after any price change would only reflect the news of that day and will be independent of the price change of previous day. According to the unpredictability of the news, the price changes must therefore be unpredictable and random. Hence, this statement implies that the investor would achieve the same result of buying and selling securities by himself as by the experts. It was in the early years of the twenty-first century when many financial economists and statisticians started doubting that stock prices could be accurately predicted by emphasising the psychological and behavioural character of stock price determination. Moreover, these financial experts believed that future stock prices can only be slightly predictable based on the patterns of past stock prices and certain fundamental valuation metrics. However, some economists exaggerated by stating that these predictable patterns would allow investors to reap benefits from reducing risk and increasing the levels of return of their securities. In order to assess whether the price of share for both companies fairly reflects the information available in the market, at 5th November 2010, a comparison was provided for the both stocks one week before and after that day (the result depicts in figure 5): Table (1): stock prices of BG group and Royal Dutch Shell Stock 1st November 2010 5th November 2010 8th November 2010 Closing price Day’s change Closing price Day’s change Closing price Day’s change BG group ?12.11 -0.05 ?12.9 -0.04 ?12.7 -0.14 Royal Dutch Shell ?20.16 +0.17 ?20.44 -0.10 ?20.26 -0.18 Source: Financial Times 2011 It is clear from table (1) that over the period of one week before and after 5th November 2010, the prices of both companies’ stock have moved relatively in stable manner. Moreover, regarding the available public information at that point, the prices of the stocks fully and fairly reflected all the information and data that was available which confirms that the UK stock market is an efficient market where all the past and available information is already reflected on its prices. As the UK stock market is a developed market, the market is meant to be efficient. Therefore stock prices are expected to reflect all past and public information. So when investors invest money on BG group or Royal Dutch Shell stocks, they would obviously take its past performance into account. As it has been found in the previous question, both companies have outperformed the average industry in term of ROE, ROA and book value per share (see table (2) in appendix) which should ideally encourage prospective investors to invest in those companies. This would make their stock more attractive to investors. One of the most commonly used techniques in finance is the Net Present Value (NPV). The NPV represents the expected change in the value of the firm in current time if a project is accepted. NPV adopts the time value of money principle in calculating all investments, which depicts that the cash flow on an investment is discounted based on the cost of capital, which decreases over the period in which the project is active (Watson and Head, 2006). Under the efficient market hypothesis EMH assumptions, the price of a random share in the market has to be allocated on the Security Market Line (SML) or Capital Market Line (CML), therefore the share prices is consistent with share asset market values (intrinsic values) so theoretically it is meaningless to conduct any earned value analysis â€Å"EVA† (NPV and investors ratios). Share price allocated on the SML/CML by definition will have net present value NPV equals to zero and cost of capital equals to the internal rate of return, in which any evaluation of this measurements would be useless because EVA must equals zero. Since NPV measures the present value of any future cash flows, in an EMH world, NPV attempting to calculate a measurement which has already been reflected on the share price. Arbitrage theory ensure that any abnormal profit should not exist or occur, if the earned value analysis EVA were to be observed, it should occur in random value or statistically non-s ignificant and the positive earned value analysis should be offset by negative earned value analysis (Chen, 2001). Furthermore, in an efficient market world it is unlikely to earn excess returns consistently. Thus within the logic of this theory EMH, earned value analysis which consists of calculating the investors’ ratios and NPV is a fiction and useless. In conclusion, the price of the both companies appears to be fully and fairly reflected in all the data and available information, such as investor’s ratio (ROE, ROA and the positive NPV value). Therefore, investors cannot beat the market price under the efficient market hypothesis assumption even though the investor ratios and NPV show the attractiveness of the stock because the price of share is already reflect all the past information (ratios and NPV) Bibliography BRYANT, L. 2003. Relative value relevance of the successful efforts and full cost accounting methods in the oil and gas industry. Review of accounting studies, 8, 5. BUCKLEY, A. 2004. Multinational Finance, Pearson Education. CHEN, S. A. J. L. D. 2001. Operating Income, Residual Income and EVA: Which Metric is More Value Relevant. Journal of Managerial 65-86. CAPITAL STRUCTURE: THE EFFECT OF FIRM AND INDUSTRY DEBT RATIOS ON MARKET VALU. Financial And Strategic Decision, 7. FRIDSON, M. S., AND ALVAREZ, F. 2002. Financial statement analysis: a practitioner’s guide, John Wiley and Sons. FAMA, E. F. 1970. Efficient capital markets: A review of theory and empirical work. The journal of finance, 25, 383. HATFIELD, G. B., , L. T. W. C. , A. W. N. D., III 1994. THE DETERMINATION OF OPTIMAL HAUSHALTER, G. D. 2000. Financing Policy, Basis Risk, and Corporate Hedging: Evidence from Oil and Gas Producers. The Journal of Finance, 55, 107-152. HEMINGWAY, R. W. 1971. Law of oil and gas. KENDALL, M. 1953. The Analysis of Economic Time Series. Journal of the Royal Statistical Society, Series A, pp. 11-25. JAHN, F., COOK, M. GRAHAM, M. 2008. Hydrocarbon exploration and production, Elsevier. MALLIN, C. A. 2006. International corporate governance: a case study approach, Edward Elgar Pub. MONEY, C. 2011. A Time Warner Company ALL RIGHTS RESERVED [Online]. Cable News Network. [Accessed 29/04/2011 2011]. ROBERTS, H. 1959. Stock Market `Patterns’ and Financial Analysis: Methodological Suggestions. Journal of Finance, 44, pp. 1-10. UNGERER, P., TAVITIAN, B. BOUTIN, A. 2005. Applications of molecular simulation in the oil and gas industry: Monte Carlo methods, Editions Technip. WATSON, D., AND HEAD, A. 2006. Corporate Finance: Principles Practice, Pearson Education. WELC, I. 2008. Common Flaws in Empirical Capital Structure Research. Brown University and NBER. Appendix Table (2): Represents the financial ratios of the 8 companies in the industry BP Plc (BP.L) Petroleo Brasileiro SA Petrobras (APBR.BA) Exxon Mobil Corporation (XOM) Royal Dutch Shell PLC BG Group PLC (BG.L) Total SA (TTA.L) ConocoPhillips (COP) Encana Corporation (ECA) average industry Profit Margin -1.25% 16.50% 8.89% 5.47% 19.52% 7.53% 6.46% 1.24% 8.05% Operating Margin -4.58% 22.21% 12.01% 7.48% 34.11% 14.19% 7.99% 6.11% 12.44% Return on Equity: -3.36% 15.05% 23.43% 14.22% 14.15% 18.83% 17.34% 0.50% 12.52% Return on Assets -3.35% 6.80% 9.60% 5.60% 7.89% 9.18% 5.69% 0.78% 5.27% Current Ratio 1.16 1.88 0.94 1.12 1.12 1.42 1.26 0.67 1.20 Total Debt/Equity 47.28 38.01 9.83 29.60 36.37 49.69 41.39 47.41 37.45 Revenue Per Share 95.02 27.51 70.13 120.03 25.39 62.86 118.81 9.49 66.16 Gross Profit Margin 16.46 53.80 43.63 13.53% 25.39% 29.26% 29.74% 88.84% 38% Book Value Per Share 30.33 29.95 29.49 48.10 38.87 27.00 47.92 22.97 34.33 Total Cash Per Share 6.42 5.50 1.58 4.37 3.74 6.88 7.91 1.10 4.69 Table (3): Represents the liquidity ratios of BG group and Royal Dutch Shell over last 5 years Ratios Company 2010 2009 2008 2007 2006 Quick ratio Royal Dutch Shell 1.8669 1.8967 1.8393 1.8778 1.9556 BG group 2.13 2.2091 2.0637 1.9159 2.0389 Current ratio Royal Dutch Shell 1.1227 1.1376 1.1046 1.2226 1.1972 BG group 1.1214 1.10125 1.0542 1.3041 1.4684 Net working capital Royal Dutch Shell 12342 11668 11041 21013 15137 BG group 1079 104 506 2351 2584 Net profit Royal Dutch Shell 20127 12518 26277 31331 25442 BG group 3532 3462 5907 3460 3198 Figure (5): The Net profit of the two companies Figure (6): Net working capital of the two companies Table (4): The financial ratios of the two companies in 2010 Financial ratios Formula BG Shell Profitability ratio Tax Burden Net Profit/Pre-tax Profit = 3500/5730 = 61.08% = 20474/35344 = 57.93% Interest Burden Pre-tax/EBIT = 5730/5562 = 103.02% = 35344/36340 = 97.26% Margin EBIT/Sales = 5562/17166 = 32.40% = 36340/368056 = 9.87% Turnover Sales/assets = 17166/50299 = 34.13% = 368056/322560 = 114.10% Leverage Assets/Equity = 50299/26684 = 188.50% = 322560/149780 = 215.36% ROE Net Profit/Equity = 3500/26684 = 13.12% = 20474/149780 = 13.67% Return on asset ROA Net Income / total asset = 3500/50299 = 6.96% =20474/322560 = 6.35% Net gearing Net debt / equity = 23615/26684 = 88.50% = 172780/149780 = 115.36% Basic earning power ratio EBIT / Total asset = 5562/50299 = 11.06% = 36340/322560 = 11.27% Liquidity ratio Current ratio Current assets / current liabilities = 9965/886 = 112.14% = 112894/100552 = 112.27% How to cite Financial analysis of BG and Shell, Essay examples

American Pie Analysis free essay sample

The immensely popular song American Pie, written by Don McLean, describes the day the music died, and the decline of society In the following decade. This date, specifically February 3rd 1959, Is marked by the deaths of Influential musicians Buddy Holly, Ritchie Valves, and J. P. Richardson. McLean wrote the song to describe his feelings towards the deaths, and to describe the history of American music up to the date American Pie was written, using symbolism to describe events without directly naming them or those involved.McLean uses many different themes, including theology and time to describe this Journey. Don Manacles American Pie uses symbolism to tell the story of American music and the day the music died, and the events that lead up to the apocalypse. The first line in the song A long, long time ago (McLean) suggests a feeling of timelessness, which is often used in mythic stories and events. This line also refers to the narrators (presumably McLean) youth, before he was a well-known musician. The following lines describe Manacles desire to bring Joy to people through music and dance. And I knew if I had my chance, that I could make those people dance, and maybe they be happy for a while (McLean). Music Is often used symbolically as a connector with the universal and with the cosmos. Music with Its different harmonies, tones, Tempe and instruments is a means of identifying with the life of the cosmos with all its fullness (Chevalier 688). Dance can also be seen as a manifestation of the spirit and of life (272-273). During the time that McLean was a youth, dance was seen as a serious sign of affection, to a greater and more meaningful extent than It would later. Dance Is a constant theme In the song, and as It progresses It Is diminished to a more travel role, to Manacles dismay. The next section dramatically alters the tone of the song from upbeat Moguls used to make me smile (McLean) to somber But February made me shiver (McLean). Symbolically, cold weather deteriorates both physically and spiritually whomever it engulfs, showing Manacles changing physical and emotional state. The verse continues with references to a newspaper on a doorstep which bears bad news for the narrator McLean.Paper Is an archetype of fragility and of the timeless part of an Individual (Chevalier 735). Thus, the bad news of the newspaper reflects the fragility of the good mood of the first verse. Also, the doorstep on which the newspaper rests suggests to a gateway. Gateways symbolize the scene passing from one state to another, from one world to another, from the known to the unknown, from light to darkness (422). On top of this, McLean is unable to take a step, symbolizing an end to any forward progression. Progression is also an important theme in the song, usually to describe society during the decade following 1959.The abundance of transcendent Imagery In this verse complements the change of American music and society following the day the music died, referenced in the ext section. l cant remember if I cried when I read about his widowed bride (McLean). This line references those killed on February 3rd 1959 by taking mention of their wives. Tears are an obvious symbol of grief and death (Chevalier 977), and here make allude often used in reference in the search for their dead husband, and is also a synonym for the gallows and guillotine (1109). This symbol represents the grief felt by those ho lived during this time, and their search for peace.These symbols combined with the next line Something touched me deep inside, the day the music died (McLean) presents to sorrow and the search for reason felt by society following the deaths of the three musicians. The American Pie of the first line of the refrain may symbolize American society itself. Bye, bye, Miss American Pie (McLean). The words bye, bye may reference a loss of innocence caused by the deaths. Also due to the deaths of the musicians, society was in a stage of grief. The refrain continues drove my Chevy to the levee, but the levee was dry (McLean). Any automobile suggests a dream or a change in psychological development (Chevalier 58). Also, oil is normally seen as a symbol of rookeries and divine blessing (714). Therefore, the dry levee shows the absence of prosperity of the American dream following February 3rd. And them good 01 boys Nerve drinking whisky and rye, singing theists be the day that I died (McLean). The boys symbolize the youth and innocence of America, and the alcohol symbolizes their corruption and sadness following the deaths of the musical idols. Did you write the Book of Love? (McLean). Books traditionally symbolize knowledge, and also represent the universe. Therefore, the Book of Love represents universal love. And do you have faith in God above, if the Bible tells you so (McLean). This may be a criticism of Christians during this time, when many people were Christians simply because the Bible tells them that it is the right religion. The Christian religion is the central theme around which the entire song revolves. Many references are made to both God, and later Satan. McLean may be telling those that do not truly believe in Christianity to reexamine their faith. Do you believe in rock On roll, can music save you mortal soul, and can you teach me how to dance real slow? (McLean). This next section refers back to the music and dance of the first few lines of the song, but it is now mentioned as a means of salvation, instead of a means of Joy. The next section refers to lovers dancing in a gym. As mentioned before, dancing is identified with life, and lovers are symbols of emotions and egos (Chevalier 520-621). You both kicked off your shoes (McLean). In Western tradition, shoes show funerary significance. These symbols once again show the death and negative emotions following the day the music died. L was a lonely teenage bronchi buck, with a pink carnation and a pickup ruckus (McLean). A buck, or deer, is a common symbol of the spirit (Chevalier 283-284). A flower is also seen as a symbol of spiritual perfection (395), and as mentioned before, any automobile suggests a dream or psychological development. These symbols show how Manacles spirit was in a state of perfection prior to the events of February 3rd. But I knew I was out of luck the day the music died (McLean). This line foreshadows sadness, despair and grief felt not only be McLean himself, but by all people. Now for ten years weve been on our own, and moss grows fat on a rolling stone (McLean). The number ten shows a return to oneness (Chevalier 981) and any images in every civilization showing the transition from vegetable to animal, to human, to divine (1061). Also, a stone shows the link between the soul and the stone (932). Because McLean says we, he is suggesting that all of society is returning to its spiritual oneness, and is recovering from the deaths ten years prior. But thats not how it used to be, when the Jester sang for the King and Queen (McLean).This line places the narrative back into the past, within a royal court. The Jester, or fool, symbolizes forward progress (Chevalier 397). The King and Queen symbolize the center of heaven, earth, and mankind (566-567). In a coat he borrowed from James Dean (McLean). In the movie Rebel Without a Cause, James Dean wears a red coat which, in the movie, symbolizes forward progression (Ray). And a voice from you and me (McLean). This section shows forward progression, possibly trying to overtake the norm of society, the king, using the people as his tool, as referenced by the voice from you and me. Oh, and while the king was looking down, the Jester stole his thorny crown (McLean). This is obvious Christ imagery, as the Jester has stolen the crown symbolic of his supremacy) from the king, but he must also face the responsibilities of his actions. The courtroom was adjourned, no verdict was returned (McLean). This may refer to the Jesters theft of the crown, and how it was accepted by society, as the Jester was not convicted. The quartet practiced in the park, and we sang dirges in the dark (McLean). The number four represents what is solid in the world, the material wealth of all (Chevalier 402-403).The fact that they were playing music in a park shows the life and power of nature and of God, the creator of both life and nature. The dirges in the dark symbolizes the funerary setting and the sadness felt following the deaths, as the narrative is still set prior to the moss on the rolling stone. Helter Shelter in a summer swelter, the birds flew off with a fallout shelter (McLean). Helter Shelter most likely refers to a Battles song. The Battles may also be the quartet mentioned in the previous verse (Ray). The flight of birds leads them, naturally, to serve as symbols of the links between Heaven and Earth.In Greek, the word itself could be used as a synonym for forewarning and for a message from Heaven (Chevalier 86-87). The birds therefore are a symbol of a message from heaven, possibly a message from God in order to save the people from their self- destructive and grievous path. Eight miles high and falling fast, it landed foul out on the grass (McLean). Eight is a symbol of cosmic balance, and of completeness (Chevalier 342-343). Therefore, the message from heaven was unable to reach Earth, but it instead crashed onto grass, a symbol of the transition from human to divine, and of the divine to human (1061). The players tried for a forward pass, with the Lester on the sidelines in a cast (McLean). The players symbolize a force in opposition to the Jester. The Jester, representing forward progression, is unable to progress due to an injury and is on the sidelines observing. Now the half-time air was sweet perfume, while sergeants played a marching tune (McLean). Perfume is a symbol of one of the elements of a sacrificial offering designed to make it acceptable to God (Chevalier 748). The scene is set for a type of sporting event, due to the players mentioned previously, and the mention of half- time.The sergeants, most likely represent governments or other figures of power, salvation during the asss, the sergeants, or those who held power, interfere. Following, the audience gets up to dance, but is unable to because the band refuses to yield to the players following half-time. Once again, dancing symbolizes the Spirit of Life (272). The marching band, in the form of the army, is unwilling to let the people continue their lives, and interferes with the game. This section can also be interpreted as a reference to the Vietnam War.The crowd may represent those that wished that the war would end. The sergeants would still represent the heads of power, preventing what the crowd wanted from taking place. Oh, and there we were all in one place, a generation lost in space (McLean). Space, inseparable from time, is simultaneously the place where all is potentially in this sense it symbolizes the cosmos or ordered universe (Chevalier 900). This is an attempt by McLean to show that society was lost in the universe; unable to continue their lives due to interference by the leaders of society in the previous verse. With no time left to start again, so come on, Jack be nimble, Jack be quick, Jack Flash sat on a candlestick (McLean). The absence of time is again referring to the game that was delayed in the previous verse. Jack Flash is the name of a song by the Rolling Stones, and a candlestick is a symbol of spiritual illumination, of the seed of life and of salvation (Chevalier 151). Therefore, McLean believed that the rock style of the Rolling Stones was preventing spiritual illumination, and was preventing society from finding their way through the ordered universe. Cause fire is the devils only friend (McLean). The destructive aspect of fire implies a negative aspect and to be Lord of the Fire is a function of the Devil (Chevalier 380). This connects the intentions of the Rolling Stones to prevent society from finding their way to the Devil. This also connects the Devil with the figureheads of the last verse, as they were preventing the people from the Spirit of Life, and from petitioning God for aid after his message was ignored. Oh, and I watched him on the stage, my hands were clenched in fists of rage (McLean).In this next section, McLean is most likely referring to the Devil performing for all the people to see. No angel born in hell could break that Satins spell (McLean). This symbolizes the inability of the society to break Satins hold on the people, and he now refers to the people as angels born in hell, because they eave fallen under Satins spell. As the flames climbed high into the night, to light the sacrificial light, I saw Satan laughing with delight, the day the music died (McLean). The flames symbolize the hold Satan has on the people, and the sacrificial light represents full control over society.So as Satan gains control over the people, he is reaching his complete goal; total control over humanity. Also, Satan is connected to the deaths of the musicians, as he was laughing with delight at their deaths. Many critics have speculated that the devil mentioned in the verse are the Rolling Stones. Many of the songs in the Rolling Stones settles mention the devil, which may have caused McLean to believe that they were devil worshipers. The next section of the song describes McLean following Satins control over the population. L met a girl who sang the blues, and I asked her for some happy news, but she Just smiled and turned away (McLean). Song is the symbol of the word which links the creators power to what it has coordinated gives it expression in Joy her creator, but when asked for good news, she is unable or unwilling to give any. l Net down to the sacred store where Id heard the music years before, but the man here said the music wouldnt play (McLean). The sacred store refers to a music store. McLean wishes to hear the music, and therefore the life of the cosmos :chevalier 688), again.Unfortunately, due to Satins hold on the society, the music cannot be played again, which shows the absence of all life and spirit in the society. The last verse describes the consequences of the actions of the people. And in the streets the children screamed, the lovers cried, and the poets dreamed (McLean). Children are often seen as a sign of innocence, and in Christian tradition, they are also symbolic of angels (Chevalier 189-190). Therefore, the innocence of the people is lost and the angels, servants of God, cannot aid mankind. He lovers may be a reference to the lovers mentioned dancing in the gym. The lovers, representing emotions and egos (620-621), are crying, which shows the emotions of grief and death (977). The dreaming poets represent a hope for a better life. But not a word was spoken, the church bells all were broken (McLean). The Church bells are one of the most profound symbols in the entire work. It undoubtedly symbolizes the divine command to study the Law, obedience to the Nor of God and, at all events, intercommunication between Heaven and Earth (Chevalier 82).The broken church bells represent God cutting himself off from society. Because of this, the world as all know it is doomed. And the three men I admire the most, the Father, Son and the Holy Ghost, they caught the last train for the coast, the day the music died (McLean). Three symbolizes the spiritual order of God and the Trinity(Chevalier 993), and in this case shows the connection between McLean and God. Trains seen in dreams are images of social life as a member off group and of the fate that governs us (1023).This once again shows God cutting his connection with Earth, leaving it to its fate following its unfaithfulness. Along with the social connotations, there are many musical references in the song. Many musical critics claim that the Jester mentioned in the third verse represents bib Dylan, and Elvis represents the king. The crown of thorns represents musical supremacy following Elvis death, with Dylan in control, and the price of fame. This argument is strengthened by the fact that Dylan wears a red windbreaker similar to the one worn by James Dean in Rebel Without a Cause in his album TheFreewheeling Bob Dylan. The quartet mentioned is the Battles, and the park represent their famous farewell concert and Candlestick Park in 1966. The birds represent The Birds, a band mostly known bridging stylistic the gap that fell between bib Dylan and the Battles. The Birds single, Eight Miles High, is also mentioned. The players attempting a forward pass represent many bands attempting to gain control of the musical market during Dylan absence while he was injured in a motorcycle accident. All musical reference following the fourth verse represent the RollingStones, and their ties with the devil during their Alton Free Concert, during which an African-American man was killed by one the of Hells Angels security guards AR the concert (Fan). Don Manacles song American Pie is an epic and mythic tale that tells the story of the American musical society immediately prior to and following February 3rd 1959, depression following the deaths of three famous musicians, and the progression Nothing musical hierarchy that followed. Because the society was unable to return to the way it was before February 3rd, it went against the will of God by ignoring opportunities for repentance.Therefore, society sold their souls to the Devil in order to fulfill their musical and emotional emptiness. Because of this, the musical and social world declined into chaos, and the apocalypse destroyed what was once a beautiful, musical world. Historically, the song tells of how the world of music turned from the folk oriented Elvis and Bob Dylan, and moved toward the rock style of the tattles and Rolling Stones, which lead to the decline of music and society. There is much to learn from Don Manacles American Pie. Throughout time, sic has been an archetype of the cosmos and all its fullness (Chevalier 688).

Processes Of Accounting Information System - Myassignmenthelp.Com

Question: Discuss aboutProcesses Of Accounting Information System. Answer: Introduction The present report is developed for providing an analysis of the sales process of Bucks Phyz on the perspective of an accountant. Bucks Phyz is a medium sized company that is presently focusing on implementing some changes in its sales process. The review of the sales process of the company has been undertaken on the basis of the information extracted from the key personnel related to the sales process. The report provides an overview of the sales process of the company with identification of weakness in the process their impact on the organizational performance. The report also provides an analysis of the specific internal controls to be implemented for overcoming the identified weakness and the recommendations for improving the efficiency of the sales process of the company in future context. Overview of Sales Process for Bucks Phyz The present sales process of the company consists of developing a pricing template for the customers through entering the customer data into the system manually. The process includes extracting the customer data from the sales contracts through the use of business ID, address and contact details. The information extracted is entered into the billing system for creating the customer profile. This is followed by the creation of a pricing template and linking it to the customer profile. The overall sales process of the company is monitored and controlled by the finance director, AR manager, head of sales, sales manager and master data specialists (Internal Control Case Study, n.d.). Internal control present in the sales process of the Bucks Phyz Internal Control Weaknesses in Bucks Phyz sale Process Impact of these weaknesses on the organization Specific internal controls to mitigate the risk Sales data of the customers are manually entered into the system and this makes the sales process highly complicated and prone to errors such as misplacement of data very frequently At the time of creating the price template for the customers a lot of detailed data is entered manually and the system view is too bulky that operator finds it very difficult to manually enter the data. There are many cases where customers have demanded to make the significant changes in the contracts. In order to mitigate these risks that arises due to manual entering of data, there is requirement to introduce the system where customers places the order online and it is forwarded to the sales team to make a review and check all the appropriate details. After checking all the details in sales invoice, it should get approved and customer must be asked to make payment or issue the credit note as per his/her convenience. There is need for introducing a broader view into the sales system so that it is easy to enter details manually if required (Gelinas, Dull, Wheeler and Hill, 2017). No review of customer data is done once it has been manually entered at the initial stage unless the specific reason to check the same is required Bucks Phyz has no policy to review the customer data after the initial input stage due to very less cost benefit ratio. As there is no review of customer data after the initial stage this might create problem while processing the sales through the particular customer in case there is some error left while making data entry. The account receivable department may get trouble while making the bank reconciliation if there is unavailability of proper details of the customers There is requirement of specific internal control to mitigate the risk of data entry of customers. There must be policy to make review of the complete list of customers once in a month or two months so that quality check can be improved and details of the customers can be maintained up to date. In order to make review, access rights can be given to sales team so that whenever they make contact with the particular customer they can verify the details and make corrections if required (Hall, 2015). Billing system does not have any automated data quality check controls that focuses on the customer data that has been entered into the system and guide the users in case of mistake. However there is standard format, using that users can enter data into the system but as mentioned all the fields are not relevant. There is no proper indicator that there is no requirement of such fields to be entered and no message displayed for type of data that should be entered while filling the specific field. Billing system is highly prone to the unwanted mistakes while making the entry of the customer data into the respective fields as there is no automated system that keeps the check on the data that has been entered in the billing system. In case of any error that has been left while processing the bills it will lead to occurrence errors due to no internal checks done. Billing system must be made in such a manner that there is specific requirement of each field and if any wrong data has been entered a alert message must be shown and advise message must be shown to the user to enter the correct details (Knechel and Salterio, 2016). Impact of Introduction of Corporate Credit Cards Detailed Review of Benefits and Potential Risks associated with the introduction of such cards The company is planning to introduce corporate credit card for meeting the business related expenditure of the employees. The company is planning to introduce such cards for overcoming the problem faced by the employees for meeting the business related expenses as they are required to raise a purchase order and then sent it to the supplier under the present system. Therefore, the employees are unable to incur the business expenses through the use of online medium. As such, the introduction of corporate credit cards by the company will help the employees to instantly meet their business expenses and thus they can incur any expenditure without waiting for gaining approval for reimbursement. However, the potential risks related with the use of such cards by the company are mixing of personnel and business expenditure by the employees. Thus, the employees can include their personal expenses in the unapproved expenses on the credit cards (Simon, 2017). Specific Internal Controls to be implemented for Minimizing the Risks Associated with the Use of Credit Cards The company should also introduce specific internal controls for reducing the chances of occurrence of any type of risk. Thus, the company should introduce the individual payment card system for the employees. This type of card system provides the responsibility to the employees for submitting the overall expense report to the management. Thus, the management reviews the overall expenses incurred by an employee properly before their reimbursement. Thus, it helps in identification of any personal expenses that might be mixed up with the business expenses by the employees. The employees are provided with the authority of paying the issuer directly for any unapproved expenses but the reimbursement will be made after the review of the management team. Thus, the introduction of such corporate credit cards will provide advantage to the company for reducing the chances of any risk occurrence due to mixing of personal and business related expenses by the employees. Also, the management shoul d develop proper corporate policies for proving an understanding to the employees regarding the need of providing such cards to them for misusing the chances of its misuse. The credit card should be issued against the name of an employee to whom the card belongs for avoiding the chances of occurrence of nay confusion during the reimbursement of the expenses (Turner and Weickgenannt, 2016). Recommendation to CEO regarding who should be issued Corporate Credit Card The corporate credit card should be issued by the CEO for both the employer and the employees. The employee credit card should be issued so that the key personnel of the company can meet the company related expenditure instantly without causing any delay in its operational activities. The employees related credit card should be issued so that they can meet their business related expenses during the time of travel and other situations instantly. For example, they can undertake specific trainings for improving their job performance by taking the permission of their supervisor any distant location and can meet its associated expenses adequately (Kurtz and Boone, 2008). Conclusion The overall internal control present in the Bucks Phyz is very poor and many improvements are required to be done in order to make the whole process run smoothly. The business organizations around the world are adopting the use of technology devices that are highly automated with high accuracy but Bucks Phyz is still dependent upon the manual system of data entry and processing of data. It is highly recommended to the Bucks Phyz to implement the suggested internal controls improvements in the above table and make sure that these improvements are made after developing the proper strategies for their implementation and review the same through the initial testing. The idea of corporate credit cards will solve the problem of petty expenses that occurs at the employees and the employers end. This will ensure the smooth functioning of the operational activities of the company and thereby improving its overall performance. References Gelinas, U.J., Dull, R.B., Wheeler, P. and Hill, M.C. 2017. Accounting Information Systems. Cengage Learning. Hall, J.A. 2015. Accounting Information Systems. Cengage Learning. Internal Control Case Study. n.d. Bucks Phyz. Knechel, W.R. and Salterio, S.E. 2016. Auditing: Assurance and Risk. Taylor Francis. Kurtz, D. and Boone, L. 2008. Contemporary Business. Cengage Learning. Simon, M. 2017. Corporate credit cards: How they work, benefits, drawbacks. Retrieved 16 January, 2018, from https://www.creditcards.com/credit-card-news/corporate-credit-card-1267.php Turner, L. and Weickgenannt, A. 2016. Accounting Information Systems: The Processes and Controls. John Wiley Sons.