Water Is Invaluable Essay Example for Free

Water Is Invaluable Essay â€Å"Water is the driving force in nature.† The importance and beauty of water in our body There are many benefits water could offer to our body: It can give us healthy skin Our skin is always hungry for water and we must always provide it in order for it not to be looking dry, dull and no life. Water has proven that it can remove lines on our skin because if you feed your skin with water, it now hydrated and if it is hydrated, the cells will be awakened and will look young and radiant. That is why people who’d rink plenty of water have a radiant and glowing skin. It even made them younger looking. If you also want to correct your complexion, drink plenty of water. It will not change your complexion suddenly but it will make it even that will look even better. Water could also brighten our eyes and can avoid us from looking tired and exhausted. A simple cold compression could decrease eye inflammation brought by fatigue, lack of sleep and eye strain due to work. Make it a habit that every night you must cold compress your eyes in order for you to look fresh and radiant all the time. It can help us achieve a healthy body One reason that a person looks fat and heavy is mainly because of water retention brought by the foods they eat most especially salty and junk foods. Water accumulates in the certain parts of their body and would form a cellulite which is not good to look at. So, if you want to minimize cellulites and extra weight, avoid eating salty instead, drink plenty of water because you may still excrete it. Soaking in a hot bath or having a hot shower could lead to a better and  relaxing sleep as well because it relaxes our nerves and system that will lead to a good night’s sleep. Improves hair Drinking enough water could improve dryness of the hair because it could add to the hair moisture. Due to too much pollution, dust and humidity, we cannot really avoid that we could get a dry and coarse hair. But with the help of water, our hair could still improve its shininess and texture. It could contribute to a better digestion Drinking a lot of water could facilitate a good digestion which will lead to a normal bowel elimination. A normal bowel elimination considered to be healthy because you take out all the toxins and bad bacteria in our body. Now, you have discovered the beauty and importance of water in our lives. Starting now, we should not take for granted water because it could really work wonders for us and could contribute to the total wellness of our body. It could really make a difference in our lives because it works beautifully.

Education & Public Morality In Australia :: essays research papers

The Influence of Education & Public Morality in Australia during 1788-1900 While Christianity played a crucial part in all aspects of Australian society throughout the pre-federation years 1788 to 1900, it had a significant impact on education and public morality. Th influence of Christianity in education was evident through the establishment of a separate education system and, in public morality the formation of the temperance movement as well as other actions. Education was greatly influenced by Christianity during 1788 through to 1900. Settlers concerned to leave religious divisions in Britain believed that ties between church and state should be eradicated and that churches be supported by their own followers. Subsequently, with numerous denominations supporting this idea, concerns were partly met by the granting of financial aid to the major religious groups, including the Church of England. Individuals churches used this aid to maximise its religious and educational influence. Governor Bourke later extended the state financial aid and attempted to introduce government schools based on the national system in his native Ireland. However, non-Anglican Protestants, who had formed in 1835 a society for promoting schools where the Bible would be a basis for general education, insisted on its wider use in the proposed national schools than was permitted in the Irish system. Catholics supported the Governor's proposal which further angered the Protestants. The successive alliance between the Anglicans and the Protestant denominations favourably brought about an anti-Catholic move to condemn concessions to a religious minority at the expense of national school systems based on the religious teachings of the Bible. In 1839, when Bishop Broughton's agenda was completely revealed, it was brought public that he intended to include the teachings of Anglican evangelists. This was revealed when Governor Gipps attempted to enforce a Bible-based national system and separate Catholic schools. Broughton successfully organised a commotion against this plan in favour of the continuation of state support for Anglican schools. Using this success, Protestants called for government aid for their own educational programs. When an elite committee of the New south Wales Legislative Council proposed the Irish system in1846, Catholics, concerned that the schools could become completely empowered by Protestants, joined Anglicans and other denominations, especially Wesleys, in opposing it. A compromise in 1848 agreed to separate denominational and Irish-type national schools. Although this view was strongly supported, some influential colonists wanted the financial aid to end in order to eliminate duplication and ensure that public instruction was controlled and financed by each colonial government.

Chem-Med Company Essay

Problem Statement: Chem-Med Company is positioned strongly in its industry to achieve high growth and earn large profits in the future, but it is in need of financing. To secure this financing, Chem-Med must address concerns of potential financers and investors regarding liquidity, efficiency, cash flow, and the need for funding despite apparent growth. In addition, Chem-Med’s primary competitor, Pharmacia, is out-competing the company and stealing valuable market share and sales volume with lower prices. Analysis: To understand Chem-Med’s problems, we must first look at the company’s liquidity and efficiency through the calculation of various ratios. Common measures of liquidity, activity, and profitability for ChemMed and its competitor Pharmacia can be found in the following table: Chem-Med Pharmacia 2.9 2.8 1.08 5.8 30.15% 7.00% 13.67% 55.00% 29.66% 29.56% 0.8493 1.9 Current Ratio Inventory Turnover Net Profit Margin Debt-to-Assets Return on Equity Total Asset Turnover Chem-Med is competitive with Pharmacia in terms of Current Ratio and Return on Equity. But Chem-Med turns over inventory much slower than Pharmacia, at 1.08 times per year versus Pharmacia’s 5.8 times. Chem-Med also utilizes assets more poorly, generating sales equal to only .8493 times total assets compared to Pharmacia’s 1.9 times. It is interesting to note that Chem-Med has a much higher profit margin than Pharmacia while maintaining virtually the same Return on Equity. To understand this phenomenon, we must deconstruct each firm’s Return on Equity (ROE) using the DuPont Method. ROE Chem-Med Pharmacia We can see that Pharmacia makes up for its lower profit margin with a much higher total asset turnover as well as a better use of debt to achieve a return on equity similar to that of Chem-Med. While ChemMed operates with a much higher profit margin than Pharmacia, its utilization of assets and debt falls far below the standards of its competitor, causing the firm problems. Chem-Med has a three-year plan for the future. This business plan comes complete with financial projections that the bank has used to determine whether or not Chem-Med 2008 2009 2010 is a safe loan risk. The bank has agreed to make a loan to the firm on the condition that it upholds several loan covenants,  Current Ratio (> 2.25) 2.72 2.39 1.98 Debt/Assets (< 30%) 13.51% 14.03% 13.87% expressed in the table at left. The problem statistic (a current ratio of 1.98 in 2010) is highlighted. This figure is below the mandated current ratio of 2.25. Chem-Med must address this projected liquidity problem to secure the necessary financing to implement its business plan. In addition to liquidity and efficiency problems, Chem-Med must address cash flow concerns. A pro-forma cash flow statement for the years 2008-2010 follows: Chem-Med’s cash flow statement provides encouraging data for potential investors. The firm expects to have positive operating cash flows over the $ 167 next three years and therefore requires little outside financing to finance the investing outflows which will sustain the firm’s growth. Chem-Med is very $ (66) profitable Projected Net Income (2008-2010) $ 101 and is 2008 2009 2010 Total effectively converting those profits into operating cash flows. In fact, $ 1,150 $ 1,274 $ 1,943 $ 4,367 the firm’s operating cash inflows exceed the projected profits for the Chem-Med Company Statement of Cash Flows Opening Cash Balance (1/1/08) Operating Cash Flows $ 6,050 Investing Cash Flows $ (6,205) Financing Cash Flows $ 89 Closing Cash Balance (12/31/10)  firm over the three year period. Chem-Med is effectively converting its profits into operating cash inflows and by doing so the firm has almost  enough operating cash to finance its investing outflows. There is only a very slight cash flow problem as investing outflows still outstrip operating inflows, but only by a slim margin. The firm also faces a problem in terms of efficiency in collection of debts. The collection periods for the firm for the years 2007 – 2010 are presented here. 2007 2008 2009 2010 As is evident, the firm’s ability to collect on Collection Period (Days) 53.24 61.15 72 80.87 its debts is actually decreasing in the future. Instead of increasing efficiency, the firm is decreasing in efficiency. Projected Growth In Net Income (2008-2010) 2008 2009 2010 10.8% 52.5% 49.4% Despite liquidity and efficiency problems, Chem-Med has a healthy cash flow and anticipates high growth. The projected year-to-year growth rates in net income for 2008-2010 are displayed in the adjacent table. As can be seen, the firm expects robust growth over the next three years and is therefore an attractive opportunity for investors. It appears, then, that the problems of liquidity and efficiency do exist and should be addressed. Chem-Med has a healthy cash flow and is only slightly deficient in operating cash flow, but because the firm is experiencing such robust growth, it is not entirely surprising that the firm has a high need for investing cash. Recommendations: Chem-Med’s most pressing problems involve its competitor, Pharmacia. Pharmacia is engaging in price wars with Chem-Med, taking a 59% market share to Chem-Med’s 25% share. Chem-Med should lower its prices in response to Pharmacia’s tactics to gain market share. Pharmacia is already operating at a much lower profit margin, so it is unlikely that the firm can cut prices as steeply as Chem-Med. Chem-Med can still maintain a healthy profit margin while gaining valuable market share and sales volume. Increasing sales volume through price cuts will increase the firm’s gross sales while having no affect on total assets. This, in t urn, will improve the company’s total asset turnover and bring it more in-line with Pharmacia’s. Increasing sales volume, however, will not necessarily improve the firm’s inventory turnover rate as both sales and inventory will increase to accommodate the increased volume. To improve upon this, Chem-Med should consider investing in an inventory control system or consider new methods of ordering (such as just-in-time ordering) to improve  its control of inventory. In addition, Chem-Med should take note that its Debt-to-Assets ratio is well below Pharmacia’s. Engaging in more debt financing will increase the firm’s financial leverage and magnify the healthy returns it expects to see in the next three years. This increased debt usage will also magnify the firm’s return-on-equity, making it an even more attractive firm for potential investors. Chem-Med should consider offering discount terms to its customers for prompt payment. Such terms will encourage customers of Chem-Med to pay sooner and therefore reduce Chem-Med’s collection period. This, in term, frees up cash flow for the firm and will increase its overall operating efficiency and can help to alleviate some liquidity problems. Collecting in a timely manner will also decrease the likelihood of default on accounts receivable as the accounts remain outstanding for shorter periods of time. To further alleviate liquidity problems, specifically that posed by the firm’s current ratio in 2010, Chem-Med should consider using more long-term debt. The firm could take out a long-term loan to settle its accounts payable. This would decrease Chem-Med’s current liabilities, which in turn would increase the firm’s current ratio. This would make the firm appear as a lower risk to bankers and investors as its ability to meet its current obligations will have improved. By lowering its prices to increase sales volume and market share, offering discounts to decrease collection periods, and refinancing its short-term debt with long-term debt, Chem-Med Company can improve its marketability to investors, gain a competitive advantage in its industry, and look forward to improved long-term performance as a more efficient and robust firm.

Due diligence - Free Essay Example

Sample details Pages: 4 Words: 1330 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Introduction: When people discuss regarding acquiring another firm, the phrase due diligence comes up earlier or afterwards. Usually, authentic definitions of due diligence say a little such as: Due diligence is a measure of prudence, activity or assiduity, as is properly to be expected from, and ordinarily exercised by, a reasonable and prudent person under the particular circumstances (E. Gattiker, 2007). According to the G. Andrade, M. Mitchell Mergers signify massive reallocations of assets within the economy, both inside and outside industries, in 1995, the value of acquisitions and mergers about equally 5 percent of GDP and was equivalent to 48 percent of non-residential investment. From the firms perspective, mergers describes as a quite unusual events, often enabling a firm to double its size in a matter of months. As a result, measure value creation (or destruction) resulting from mergers and determining how this incremental value is scattered among merger participants are two of the vital objectives in finance and business merger research. Don’t waste time! Our writers will create an original "Due diligence" essay for you Create order Merger and acquisition has a very significant role in the financial management and the corporate finance. For number of organisation it is a one of the source of the extended development through the external growth when the organic growth is not possible, on the other hand to other organisation it is signify as a steady danger to their progressing independent survival. According to the Watson and Head 2007, merger is defined as a reorganisation of assets into new organisation i.e. A and B merge to become C, a new company, with the agreement of both sets of shareholders. M A is not only the simple merger and acquisition, whereas it combination of the strategic alliance and the joint venture of the participating firms. It includes carves- out, pin offs, divestitures, tracking stocks and the restructuring activities. In merger and acquisition there is change in the ownership of the firm occurs through the repurchasing of the shares, leverage buyouts, leverage recapitalisation and the dual class recapitalisation. Merger and the acquisition activities are not substitution activities for the internal improvement rather it is an addition.(J. Fred Weston, Samuel C. Weaver 2001) J. Fred Weston, Samuel C. Weaver 2001 describes mergers as a horizontal, vertical and conglomerates, in Horizontal merger two firms which were operating in same industry, in vertical merger where two firms are operating in different production operation and in conglomerates mergers it is occurs in two different unrelated businesses. In last century there was great deal about the characteristic change in merger and acquisition. The studies conducted show that the mergers create the wealth of the share holders, by most of the gains accruing to the target organisation. This paper shows the evidence on merger and acquisition on stock liquidity. The study conducted by the economist shows that the merger and acquisition has many causes, to increase the economies of scale, to increase the market value, to create the market power, it helps to reduced the inefficient management, it helps to expand the business, it is chance to diversify the capabilities from one business to other business. The theories shows that the some merger in last century and shows the understanding of the what are measure for the acquisition. From above it is clear that merger is better sometimes than that of other options. Since 1940s active enforcement antitrust laws has make the merger power difficult to achieve. The diversification merger in 1960s and studies shows that these mergers where comes under the failure category. Till 1980 mergers as one the key financial measure not much utilised by the companies, but the takeover was the one the key financial instrument on that time (G. Andrade, M. Mitchell, and E. Stafford 2001). Studies conducted by Mulherin Mitchell in 1996 has explained that the mergers take place by building through the two important empirical features of mergers since last century 1) it is occurs in waves 2) it is (mergers) strongly cluster by industries. This above features shows that the mergers are occurs due to the unexpected experience felt by the industry structure. This ground is a potentially productive one to discover from both a academic and experiential point of view. It is seems that the experience of the persons who were working in those field and analyst that industries tend to re- formed their structure and try to consolidate in concentrated duration of that era, that those changes happened suddenly and very difficult to visualize. Although identify industry shock and document their outcome were challenging. study shows that merger as a instruments in 1990s, as a last decades is heavily clustered by industry. In this activity of merger and acquisition, industry shocks explain a big portion of merger activity does not really make clear the mechanism involved, which bring the issues least about, 1) the long-term effects of mergers, 2) what make some successful as compared to others. Merger is always seems to be creation of total value for shareholders but the during announcement time earning from the M A is an entire target of an individual shareholders, but by acquiring firm shareholders become visible to come dangerously close to actually subsidizing these transactions. However, the picture is not quite complete. The results hide an important distinction based on the financing of these transactions. In, mergers finance with stock, at least partially, has different value effects from mergers that are financed without any stock. From the acquiring firms point of view, stock-financed mergers can be view as simultaneous transactions: an equity issue and merger. On average, equity issues are associated with reliably negative abnormal returns throughout the few days adjoining the announcement. Various models have developed to describe this finding, mostly focus on information differences between managers and outside investors (Myers and Majluf, 1984). Decision regarding the merger and acquisition majorly affects the firms vision for future endeavours. The past studies shows the valuable information regarding the effects of mergers and acquisition, but these information is still very less for the effects of M A on stock liquidity on big corporate events. In our study we try to find out the M A effects on the stock liquidity of different organisation in pre-merger and acquisition 120 days data and post M A. 120 days data. In financial studies it is shows that the stock liquidity is directly related to the equity price. Study conducted by the Amihud and Mendelsons in 1986 shows that the increased liquidity decreases the cost of equity capital by decreasing the reward required by the investor in trade difficulties. In another study by the Amihud Mendelsons in 1988 shows that the managers find out different ways to enhance liquidity of their stocks for the benefit of the share-holders liquid securities. There are only few evidences shows that the direct evidence that stock liquidity is important from the corporate or finance managers. The purpose of our study is to find out the relationship between the stock liquidity and before 12o days of merger and 120 days post merger and acquisition activity. As shown by Amihud and Mendelsons in 1986 and 1988 a lower cost of capital will not only increase the present value of existing assets but also widen the profitable investment opportunity. References: Watson Denzil and Antony Head 2007, Corporate Finance Principle and Practice Fourth Edition, Prentice Hall, ISBN-10: 0-273-70644-6. Chapter11, pp. 312. J. Fred Weston and Samuel C. Weaver,2001, Mergers and Acquisitions, Mc Graw Hill, ISBN 0-07-143537-9 (PKB) G. Andrade, M. Mitchell, and E. Stafford 2001, Journal of Economic Perspectives-Volume 15, Number 2-Spring 2001-Pages 103-120 E. Gattiker, 2007 Merger and Acquisition: Effective Information Security Depends on Strategic Security Metrics, Information systems control journal , volume 5. Myers, Stewart and Nicholal S. Majluf, , June 1984 Corporate Financing and Investment Decisions when Firms have Information that Investors Do Not Have, Journal of Financial Economics, Vol. 13, No. 2, pp. 187-221. Amihud Y.and H. Mendelsons in 1988 Liquidity and Assets Prices: Financial Management Implication Finaancial Management 17, (1988) 5-15. Amihud Y.and H. Mendelsons in 1986, Assest Pricing and the bid ask spread. Journal Of Financial Economics 17 (1986) 223-249.