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Ratio Analysis, 2004.
This paper discusses various accounting ratios used in Ratio Analysis.
1,440 words (approx. 5.8 pages), 5 sources, MLA, AU$ 74.95
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Abstract
This paper explains that Ratio Analysis is an early warning indicator that enables the business owner and manager to spot trends in a business and to compare its performance and condition with the average performance of similar businesses in the same industry. The author relates that Ratio Analysis is done by comparing the specific company?s ratios with the average of similar businesses and comparing the business?s own ratios for several successive years, watching especially for any unfavorable trends that may be starting. The paper states that the current ratio measures the ability of the firm to pay is current bills, while still allowing for a safety margin above the required amount needed to pay current obligations.
Table of Contents
Liquidity Ratios
Current Ratio
Quick Ratio
Net Working Capital
Activity Ratios
Days Sales Outstanding
Average Payment Period
Fixed Assets Turnover
Total Asset Turnover
Inventory Turnover
Debt Ratios
Debt Ratio
Debt to Equity Ratio
Times Interest Earned
Fixed Payment Coverage Ratio
Profitability Ratios
Gross Profit Margin
Operating Profit Margin
Net Profit Margin
Return on Investment
Return on Equity
Earnings per Share
From the Paper
"The ROI is determined by multiplying the Total Asset turnover by the Net Profit Margin. The figure is meaningful because it shows how well a company uses its assets to generate profits,. The basic formula is as follows:
ROI = Total Asset Turnover x Net Profit Margin
The DuPont method allows the firm to break down its return on investment into a profit on sales component and an asset efficiency component. Typically, a firm with a low net profit margin would have a total asset turnover. The relationship between the net profit margin and Total Asset turnover is largely dependent on the industry the firm operates."
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Financial Ratio Analysis of Lowes and Home Depot, 2004.
An exploration of the different financial ratios used to determine profitability and financial stability of a company.
2,644 words (approx. 10.6 pages), 2 sources, APA, AU$ 124.95
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Abstract
This paper focuses on two large retailers in the area of retail home improvements, Lowes and Home Depot, and compares and contrasts their financial ratios in a five-year trend table along with the most recent industry averages. The information presented in this report can be used to help determine the over-all financial status of these two companies.
Financial Ratios Used
Home Depot
Lowes
Efficiency Ratio Analysis
Liquidity Ratio Analysis
Leverage Analysis
Profitability Analysis
From the Paper
"The inventory turnover ratio shows how many times per year a business can turn-over its inventory. In other words, this number represents how many times the business sells out of its inventory in a given year. This ratio is calculated by taking the cost of goods sold and dividing it by the average amount of inventory the business carries. Notice that these ratios are determined by the cost of goods sold because the inventory figures are carried on the boots at cost, not the price the merchandise will eventually sell for (Brealey, pg. 142). When comparing Lowe's and Home Depot to the industry average, we see that both companies' ratios were 5.0 for the year 2003 and the industry average was 4.8. This means that for the year 2003, both Lowe's and Home Depot were able to turn over their inventory a bit faster than the industry as a whole. "
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Financial Analysis and Improvement Model, 2005.
Presents a model for measuring the financial health of companies using ratios, accounting analysis and industry benchmarking.
4,311 words (approx. 17.2 pages), 6 sources, APA, AU$ 179.95
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Abstract
This paper presents a methodology for evaluating the financial health of a company and provides a model for determining and recommending corrective actions to management. Key profitability, asset management, liquidity and debt management ratios are analyzed. Financial performance is compared to industry and bench-marked to the industry leader. Free cash flow is calculated and analyzed. Improvement recommendations to management are made based on the analysis. Using the recommendations a pro forma income statement and balance sheet is prepared for the upcoming fiscal year.
From the Paper
"The inventory turnover ratio shows how many times that inventory are sold during the year (Downes & Goodman, 1998, p. 294). The turnover ratio is slightly below the industry and the Leader Corporation. The company is carrying excessive inventory, which costs money that could be used elsewhere (p. 294). Management should evaluate the inventory control process. Minimizing inventory can reduce storage costs (warehousing) and protect the firm from falling prices (p. 294). These cost reductions will further enhance profitability. The inventory turnover ratio is projected to climb to over 13 % in 2004. This is primarily due to the reduction in inventory (loss). Management should manage the reduction in inventory gradually starting in 2002, this will allow some of the inventory to be sold vs. discarded as planned."
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Accounting and Financial Statement Analysis, 2004.
Case study about whether to invest in Spendless Supermarkets Ltd., based on a thorough financial analysis.
3,513 words (approx. 14.1 pages), 5 sources, MLA, AU$ 154.95
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Abstract
This paper presents a comprehensive analysis of Spendless Supermarkets Ltd., based on detailed information of the company's revenue and expenses. The paper examines Spendless's profit and loss statement and balance sheet in order to thoroughly evaluate its financial situation and then makes a suggestion as to whether it is wise to invest in this company. The paper then looks at the advantages and disadvantages of ratio analysis as a form of financial analysis, the effectiveness of overhead allocation based on labor hours, and the effectiveness of activity-based costing.
Outline
Financial Analysis of Spendless Supermarkets Ltd. Advice on Whether to
Invest or Not
Ratio Analysis ? Advantages and Limitations
Overhead Allocation Based on Labor Hours
Activity Based Costing Description - Overview
From the Paper
"The net profit margin ratio tells the amount of net profit per $1 of turnover a business has earned. That is, after taking account of the cost of sales, the administration costs, the selling and distributions costs and all other costs, the net profit is the profit that is left, out of which they will pay interest, tax, dividends and so on. The formula is: Net Profit Margin = Net Profit / Turnover* 100 = Profit before Interest and Taxation / Turnover* 100 (Net Profit = Gross Profit ? Expenses)."
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Wal-Mart: Financial Analysis, 2006.
This paper provides a financial profile of Wal-Mart, the world's largest retailer.
675 words (approx. 2.7 pages), 2 sources, AU$ 41.95
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Abstract
The paper discusses Wal-Mart's financial profile, based on a thorough review of its liquidity and profitability ratios. Based on this analysis, Wal-Mart is deemed a strong investment target for both the individual as well as the institutional investor. The paper points out that while its long-term prospects are less sure, its near and mid-term outlook is extremely promising.
From the Paper
"Wal-Mart Stores, Inc. is the world's largest retailer and operates retail stores in various retailing formats in all 50 states in the United States. The Wal-Mart Stores segment includes its discount stores, SuperCenters, and Neighborhood Markets in the United States (Wal-Mart, 2006). Wal-Mart also operates the SAM's Club segment which is a warehouse membership club in the United States. The International segment includes all of its operations in Argentina, Brazil, Canada, China, Japan, Germany, Korea, Mexico, Puerto Rico and the United Kingdom. For fiscal year 2005 Wal-Mart reported total sales of $312,427m, net income of $11,231m, and total assets of $138,187m (Wal-Mart, 2006). Liquidity Ratios: All of the following data is taken from Wal-Mart's 2005 Annual Form 10-K filed with the SEC (Form, 2006)."
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Federal Reserve of Richmond: Case Analysis, 2002.
This paper is a classical case analysis presenting alternative proposals to achieve cost reductions in savings bonds processing at the Federal Reserve Bank of Richmond.
2,670 words (approx. 10.7 pages), 1 source, MLA, AU$ 126.95
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Abstract
This paper presents a managerial accounting case study. In 1977 all Federal Reserve Banks were being pressured by the Board of Governors to reduce costs by targeting the banks' savings bonds processing activities since cost ratios for the activity at the FRBR were inferior to Federal Reserve System averages. The author uses three methods of analysis, each with three alternatives: Payback Period Analysis, Net Present Value Analysis and Internal Rate of Return Analysis.
Table of Contents
Introduction
Case Background
Methodological Concerns
Results of the Analyses
Payback Period Analysis
Alternatives
Net Present Value Analysis
Alternatives
Internal Rate of Return Analysis
Alternatives Comments and Recommendation
From the Paper
"The typical approach to payback period analysis requires that the initial investment be divided by the mean positive annual cash flow or benefit (such as a cost reduction in this present case analysis). In the case of alternative initiative number one, however, the initial investment all occurs in a six-month period. Thus, the annual cost savings attributable to the initiative were converted to semi-annual periods for the payback period analysis of this alternative. Thus, instead of using the formula payback period = initial investment/annual cost savings, the formula payback period = (initial investment/semi-annual cost savings)/2 was applied. The derivations of the costs and benefits used in this analysis are detailed in the NPV analyses. "
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Exxon Mobil Corporation, 2005.
A brief financial ratio analysis and trend analysis for Exxon Mobil Corporation.
945 words (approx. 3.8 pages), 2 sources, APA, AU$ 52.95
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Abstract
This paper presents a brief financial analysis of the Exxon Mobil Corporation, which ranks second on Fortune 500's list of America's largest corporations. The paper specifically conducts a ratio analysis and trend analysis for Exxon Mobil in order to analyze statistics for a given period and to provide insight into the company's long-term financial situation.
Outline:
Current Ratio
Quick (Acid-Test) Ratio
Inventory Turnover
Average Collection Period
Total Asset Turnover
Debt to Equity Ratio
Net Profit Margin
Price to Earnings Ratio
From the Paper
"Inventory Turnover is an important ratio that reveals the number of times the average inventory is completely swapped-out, with a higher number indicating better efficiency at moving product. It is calculated by dividing cost of goods sold by average inventory (beginning + ending inventory divided by 2). Exxon Mobil reported, in millions, $284,334 and $281,658 for cost of goods sold; as well as 9404 and 10018 in average inventory, respectively, for the years 2005 and 2006.
"The resulting ratios are 30.24 for 2005 and 28.12 for 2006. This indicates a decrease in the rate of inventory turnover, but may not by itself indicate any particular problems; since many external factors may influence this ratio."
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A Financial Analysis of Wendy?s International, 2002.
This paper is a financial analysis of Wendy?s International, using McDonald?s Corporation, the industry leader in the fast food segment of the restaurant industry, as the benchmark firm.
2,100 words (approx. 8.4 pages), 2 sources, APA, AU$ 103.95
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Abstract
This paper evaluates the financial position of Wendy?s International Corporation, a fast food restaurant, by comparing it to the financial position of McDonald?s Corporation. This author reports that Wendy?s income performance, while strong, is substantially inferior to that of McDonald?s; and, in this area more than any other, Wendy?s needs to improve if the corporation is to narrow the gap. This paper states that McDonald?s has a substantially higher inventory turnover and holds less than half as many days in sales than does Wendy?s.
Table of Contents
Executive Summary
Financial Position
Income Performance
Short-Term Liquidity
Long-Term Solvency
Asset Management
Profitability
Market Value
List of Appendices
Common-Size Balance Sheets?McDonald?s Corporation
Common-Size Balance Sheets?Wendy?s International
Combined Common-Size & Base-Year Balance Sheets?McDonald?s Corporation
Combined Common-Size & Base-Year Balance Sheets?Wendy?s International
Common-Size Balance Sheet?Wendy?s International With Baseline Comparison
Common-Size Income Statements?McDonald?s
Common-Size Income Statements?Wendy?s
Combined Common-Size & Base-Year Income Statements?McDonald?s
Combined Common-Size & Base-Year Income Statements?Wendy?s
Common-Size Income Statement?Wendy?s With Baseline Comparison
Short-Term Liquidity Ratios?Wendy?s With Baseline Comparison
Long-Term Solvency Ratios?Wendy?s With Baseline Comparison
Asset Management Ratios?Wendy?s With Baseline Comparison
Profitability Ratios?Wendy?s With Baseline Comparison
Market Value Ratios?Wendy?s With Baseline Comparison
Du Point Analysis?Wendy?s 1998
From the Paper
"With respect to short-term liquidity, Wendy?s compares well in relation to McDonald?s (refer to Appendix B-1). The reason for the Wendy?s advantage lies in the corporation?s decision to keep such a high proportion of assets in a current status. This strategy is not conducive to the most productive use of the corporation?s assets.
"In relation to debt ratios, Wendy?s is superior to McDonald?s (refer to Appendix B-2). In this area, Wendy?s also is superior to McDonald?s in relation to interest coverage, as the corporation uses borrowing very little in comparison to McDonald?s."
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Cisco, 2001.
Financial analysis of Cisco Systems (through 1999). History of company. Ratio analysis including--fixed and total asset turnover ratios; debt ratio; times interest earned; price; earnings, etc.
2,025 words (approx. 8.1 pages), 6 sources, AU$ 112.95
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From the Paper
"Cisco Systems was founded by Leonard Bosack and Sandra Lerner, who were a young husband and wife at Stanford University in 1984. Bosack developed technology to link the network in the computer lab to his wife?s network in the business department. Believing the idea was a good one, they took a mortgage on their house, bought a used mainframe, and got friends and relatives to work for deferred pay, selling their first router in 1986.
Turning to Donald Valentine, a venture capitalist at Sequoia Capital who bought a controlling stake, the Cisco team expanded its marketing thrust to include corporations and in 1987, saw sales of $1.5 million that grew to $28 million in 1989."
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Oracle: Financial Analysis, 2004.
Presents a financial analysis of this software company.
1,600 words (approx. 6.4 pages), 4 sources, MLA, AU$ 82.95
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Abstract
Oracle sells software for database management and network products, application development productivity tools, and end-user applications. This paper provides an introduction to the company, mentions its bid to purchase the company, PeopleSoft, and then presents a financial analysis of the company.
Paper Outline:
Introduction
Long Term Debt Ratio (Long Term Liabilities/Total Assets)
Current Ratio (Current Assets/Current Liabilities)
Fixed Assets Turnover (Sales/Average Fixed Assets)
Total Asset Turnover (Sales/Average Total Assets)
Return On Equity
Conclusion
Bibliography
From the Paper
"It would seem that Oracle?s Long Term Debt Ratio is improving, as in May ?04 only 3.423% of the total assets was financed by debt, compared to 4.805% in May ?02. The financial risk is steadily decreasing, which indicates a good risk management of the company. However, for a complete analysis, one must take into consideration the value of the interest ratio paid to creditors, the amount of dividends paid to shareholders and when the long term loans are due. One may find that financing the assets based on Long Term Debt is ?cheaper? than doing in based on Shareholders? Equity."
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Analysis of Monetary Policy, 2008.
An analysis of the importance of a monetary policy.
838 words (approx. 3.4 pages), 7 sources, APA, AU$ 46.95
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Abstract
This paper examines why monetary policy is an important aspect of macroeconomic stability. The paper looks at why the tools, procedures and the body for enforcing these tools and procedures are very important aspects of any society. The paper then explains that monetary policy is a tool utilized by policy makers to correct inflationary or recessionary gaps. Next, the paper points out that the tools of monetary policy are used throughout an economy for other purposes; hence there are drawbacks to using it for macroeconomic stability. The paper also explores whether the marginal benefit from monetary policy exceeds the marginal cost of using the tools of monetary policy. In addition, the paper looks at how monetary policy also has 'spillover' effects for other markets, such as the financial markets or general business operation. In conclusion, the paper shows that lowering inflation or closing recessionary gaps have been the primary focus of the policies.
Outline:
Introduction
A description of Monetary Policy: A General Overview:
- Open Market Operations
- Required Reserve Ratio (RRR)
- Discount Rate (DR)
Macroeconomic stability and Monetary Policy: A Look at the 1970s and 1980s
Monetary Policy Efficiency: How the Change Did or Could Have Impacted Me
From the Paper
"Monetary policy is used during inflationary or recessionary periods to correct the problem. Ideally during inflationary periods the Federal Bank and policymakers want to decrease the money supply and increase interest rates, so that borrowing/spending can be constrained. During recessionary periods, policymakers will try to do the opposite, that is increase the money supply, so that interest rates can rise and increase investment and spending, which will have a spill-over effect on employment (BOG: Federal Reserve System, 2006, p. 15)."
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Financial Analysis, 2004.
A discussion on the financial statement of the Walt Disney Company.
1,840 words (approx. 7.4 pages), 7 sources, MLA, AU$ 99.95
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Abstract
This paper compares the financial statement analysis of the Walt Disney Company. It compares information on the company to the industry medians/averages and calculates ratios. The author interprets how the company's ratios compare to those of the industry median.
From the Paper
"The Walt Disney Company together with its subsidiaries is a diversified worldwide entertainment company with operations in four business segments Media Networks Parks and Resorts Studio Entertainment and Consumer Products. The Walt Disney Company is the second ..."
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Investment Analysis, 2004.
This paper discusses the issues that are important in investing in securities and reviews the author?s portfolio.
4,355 words (approx. 17.4 pages), 8 sources, APA, AU$ 179.95
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Abstract
This paper stresses that, to protect the individual investor from significant losses, an investor should select stocks in different industries. The author points out that the major influences on a stock's safety ranking are the company's financial strength as measured by balance sheet, the company?s key financial ratios, and the stability of its price over the past five years. The paper reviews and makes recommendation for revision of the author?s investment portfolio, which included Home Depot (HD), a retail hard goods sector; Sysco (SYY), a provider of food and beverage products to the hospitality industry; Dupont (DD, primarily a science company, American Express (AXP), a world leader of financial services and Sunoco (Sun), the U.S. based manufacturer of petroleum and petrochemical products.
Table of Contents
Risk, Reward, Risk Tolerance, their effects on the Time to Retirement
Diversity as a Minimization of Ris.
Timeliness Rank
Safety Rank
Technical Rank
Price/Earnings Ratios
Target Price Range
Portfolio Review
Sysco Corporation
Recent Company History
Key Indicators
Portfolio Performance
Sunoco
Stock Holding Performance
Dupont
Stock Holding
Home Depot
Key Indicators
Stock Holding
American Express
Key Indicators
Portfolio Analysis
From the Paper
"The integer rankings on this graph do not have any specific monetary value, nor is the risk to reward potential line necessarily a smooth sloped line. This representation is drawn to demonstrate one of the most important aspects of investing. When an investment has a higher risk factor, when it is more speculative in nature, the potential for return is greater than an investment, which has a lower potential risk. The same relationship is true regarding risk of loss. The higher the level of risk in any investment, the potential is greater the investor to suffer an unexpected loss. For this reason, each investor must determine two important aspects before entering the investment market place."
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Strategic Financial Analysis, 2006.
A review of ITT Educational Services, Inc., a private college system that offers various technology-oriented programs of study.
2,609 words (approx. 10.4 pages), 7 sources, MLA, AU$ 123.95
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Abstract
This paper looks at the education and training services industry in the USA, an opportunity for venture capitalists seeking to capitalize on the current trend in the manner in which educational services are being delivered, particularly to adult learners. This paper focuses primarily on a private college, ITT Educational Services, Inc.
Contents:
Abstract
Executive Summary
Company Description
Industry
Company's Position in the Industry
Summary of Recommendations
Situational Analysis
Historic Comparison of Company Ratios to Industry Average
Financial Market Position
Financial Strengths and Weaknesses
Business Leverage
Operating Leverage
Financial Leverage
Opportunity and Risk of Business Leverage
Business Risk Assessment
Cost of Capital
Return to Shareholders
Financial Strategy
Financial Controls
From the Paper
"Today, ITT Educational Services, Inc. (hereinafter alternatively "the company" or "ITT") provides technology-oriented postsecondary degree programs in the United States. The company provides associate, bachelor and master degree programs, and non-degree diploma programs to adult learners. As of December 31, 2004, the company had 77 institutes located in 30 states that served approximately 44,000 students. As of that date, the company offered 17 degree programs and diploma programs in various fields of study, including information technology, electronics technology, drafting and design, business, and criminal justice. The company was incorporated in 1946 and is currently headquartered in Carmel, Indiana (Company profile, 2005, p. 1).
Industry. The company competes in the Education & Training Services Industry; besides education management groups such as ITT, the education industry also includes sectors such as educational services (learning centers, test-preparation companies) and educational products (textbooks, software) (Garber & Steiger, 1996). "
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Delivery Service Companies' Financial Health, 2005.
This paper examines the ratio analysis and statement of cash flows of United Parcel Service (UPS) and Federal Express Corporation (FedEx).
1,995 words (approx. 8.0 pages), 6 sources, APA, AU$ 99.95
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Abstract
This paper explains that investors can evaluate the desirability of investing in United Parcel Service (UPS) and Federal Express Corporation (FedEx) by examining their financial statements, such as the cash flow statements and the annual reports, which these publicly traded companies are required to file with the Securities and Exchange Commission (SEC). The author points out, when evaluating cash flow statements, it becomes apparent that many internal events affect the cash flow position of the organization such as an increase of expenses rising in comparison to the previous year in gas prices. The paper relates that analysis ratios, such as Current Ratio, Return on Sales, Earnings per Share (EPS), Debt Ratio, and Price to Earnings (PE) Ratio, are helpful in determining a company's solvency, liquidity and profitability; both companies are liquid and solvent because both companies' current assets (cash, accounts receivable, inventory and short-term investments) outweigh their short-term liabilities. Chart.
Table of Contents
The Cash Flow Statement - UPS
Cash Flow Statement - FedEx
Internal Events - UPS
Internal Events - FedEx
Revenue and Net Income
Financial Analysis Ratios
Discussion
From the Paper
"The Income Statements generated by these organizations also help any outsider gain insight into these organizations' revenue and net income statistics. United Parcel Service Inc. conducts its financial statements through a calendar year, starting on January 1 and ending on December 31. Over the last couple of years, the company's revenue has increased by $5.31 billion. December 31, 2002, finished with an amount of $31,272,000,000 in total revenue, followed by $33,485,000,000 on December 31, 2003. The most recent revenue is of $36,582,000,000 for the end of last year, December 31, 2004. It would be extremely welcoming for UPS to maintain all of its revenue; however, there are other expenses and costs that the organization must pay accordingly, which leads to the anticipated number of Net Income. UPS' Net Income continues to grow along with its revenue. On the December 31, 2002, UPS' books show a net income of $3,182,000,000."
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Dell and IBM Computers, 1999.
A financial analysis of these computer firms including strengths, weaknesses, opportunities, threats and ratio analysis.
2,475 words (approx. 9.9 pages), 4 sources, AU$ 137.95
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Abstract
A SWOT analysis is a listing of strengths, weaknesses, opportunities and threats. Every organization should do a SWOT analysis for themselves but should then also do one for each of its competitors. Of course it is more difficult to gather the information for competitors, but at the same time it is surprising how much can be gleaned from advertising material and other sources.
From the Paper
"FINANCIAL SWOT ANALYSIS OF DELL COMPUTERS AND IBM COMPUTERS
Definition
A SWOT analysis is a listing of strengths, weaknesses, opportunities and threats. Every organization should do a SWOT analysis for themselves but should then also do one for each of its competitors. Of course it is more difficult to gather the information for competitors, but at the same time it is surprising how much can be gleaned from advertising material and other sources such as:
* their current or ex customers
* trade magazines
* suppliers of their materials (who may also be yours)
* market research (bureau of statistics, trade associations etc.)"
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