Alice and Wonderland 2010 - 2082 Words

Title Alice and Wonderland 20120 Screen Writer Linda Woolverton Director Tim burton March 5, 2010 The Scene Scene Design Throughout the whole movie the scenes keep changing going from a reality to something what seems like a dream. The scenes are over the top and amazing and fit the film 100 percent of the time. Lighting Design Alice is transitioning from the dark forest to the bright but destroyed looking tea party as the two settings are a mix of contrast. At the same time the characters are contrasted to their surroundings as they are much brighter than their environment. The clashing of light and dark colors show that the creatures of Wonderland are at war. Sound Design The sound not only help move the†¦show more content†¦The Red Queen- She rules with and anger like no other always wanting to behead people at the slightest thing. She stole the crown and the throne from her sister the white queen. The Red Queen is also meant to stop the prophecy from becoming true and to stop Alice from defeating the her killer beast. The beast that gives her the rule over Wonderland. Minor Characters Absolem- He is the character in wonderland that people go to for answers. He is the keeper of the scroll and knows all of Wonderlands history. The White Rabbit- His job was to make sure Alice made it to Wonderland and to keep her on her path through the movie. The White Queen- Her role in this movies is to help Alice gain her confidence and turn her into the warrior she needs to be. The Actors Mia Wasikowska played Alice who is a movie actor that was the perfect person to play the role of Alice. Johnny Depp played The Mad Hatter who is a theatrical movie actor and did an amazing job in the roll. Anne Hathaway played the White Queen who is a Movie actress who I love her, she makes whatever roll she plays magnificent. Helena Bonham Carter plays the Red Queen. She is a movie actress and did perfect in this role and didn’t go overboard. Matt Lucas played both TweedleDee and TweedleDum he is a great movie actor but I would have liked to see a little more from him in this movie. Michael Sheen plated the White Rabbit who is aShow MoreRelatedAlice s Wonderland : Carbon Copy1186 Words   |  5 PagesAlice in Wonderland Masterpiece: Carbon Copy Can a perfect Alice movie be made by only mixing and matching aspects of more than one movie? If so, how would it be accomplished? I propose that it can be done and this paper has compile information showing by finding the perfect Alice Character, sticking to the true spirit of Lewis Carroll’s Alice in Wonderland original story line, incorporating the right visual and special effects, as well as, the best animation, sound, art direction, and the bestRead MoreSymbolism And Origin Is The Cheshire Cat702 Words   |  3 Pagesof a personality, but spoke to Alice using wise words and thoughts. â€Å"It is not 100% clear why Carroll named this character ‘Cheshire Cat’. â€Å"To grin like a Cheshire Cat† was a common phrase in Carroll’s day. Its origin is unknown, but it may have originated from a sign painter in Cheshire, who painted grinning lions on the sign-boards of inns in the area† (Analysis). Even though the Cheshire Cat seemed crazy or â⠂¬Å"mad† he did give Alice a dose of reality in Wonderland. He said things to her such asRead MoreLewis Carroll s Novel Of A Land Filled With Wonders And Strange And Curious Creatures878 Words   |  4 Pageswas a famous American author of the children s classics Alice s Adventures in Wonderland and Through the Looking-Glass. Although his novels were primarily written for children, no other children’s book has received so much adult attention such as this one. Lewis Carroll has been inspiring directors, writers, and artists of all sorts for decades. The latest addition happened in 2010, where director Tim Burton created a film, Alice in Wonderland, based off of Lewis Carroll’s fantasy novels. The filmRead MoreEssay about Cinematography1421 Words   |  6 PagesCINEMATOGRAPHY INTRODUCTION Alice in Wonderland released in 2010 is an amazing visual film. The movie clip I have chosen is called, â€Å"Reunited†. This clip is focused on the reunion of Alice and the Mad Hatter after she thought the Mad Hatter was dead, due to the red queen wanting to take off his head. Mia Wasikowska plays the role of Alice Kingsleigh, Johnny Depp plays the role of the Mad Hatter, and Anne Hathaway plays the role of theRead MoreFacing Adolescence in Alice’s Adventures in Wonderland Essays1485 Words   |  6 Pageschildren face when they enter the adult world in his novel, Alice’s Adventures in Wonderland, by taking readers on a compelling journey through the adolescence of a young girl who struggles to find her identity in a realm she cannot comprehend. Carroll personifies this trying journey through the protagonist, Alice. Alice is a seven year old girl, growing up in the Victorian Age, a time of rapid change and development. â€Å"Alice is engaged in a romance q uest for her own identity and growth, for some understandingRead MoreLewis Carrolls Alice in Wonderland: The Inevitable Loss of Childhood Innocence1478 Words   |  6 PagesThe novel enwraps with â€Å"Alice and her sister sitting on the bank of a river. Unquestionably bored, she is reading a book over her sister’s shoulder. Suddenly, she spots a small white rabbit in a pea coat, dart across the grass. What astounds her is that the rabbit takes out a small watch from its pocket and exclaims, I will be late. Alice had never heard a rabbit talk and moreover felt that it was bizarre for a rabbit to own a pocket watch. Curiosity takes Alice down the rabbit hole and this leadsRead MoreAlice’s Adventures in Wonderland and Through the Looking Glass2525 Words   |  11 Pagesare and how we perceive the world around us. Lewis Carroll uses these fantastical thoughts as a foundation for that of Wonderland, a bizarre and seemingly absurd world in which, Alice’s Adventure in Wonderland and the sequel, Through the Looking Glass occur. These novels both depict the journey and adventure of a young girl named Alice. In Alice’s Adventures in Wonderland, Alice spots a White Rabbit while reading in a meadow. Due to her curiosity, she follows him into an unknown area and down a rabbitRead MoreThe Novel Alice s Adventures, Alice Falls Asleep And Into The Curious World Of Wonderland2634 Words   |  11 Pagesgirl named Alice. In the novel Alice’s Adventures in Wonderland, Alice falls asleep and into the curious world of Wonderland. Alice assuages and manages inter-conflicts, such as her identity. Through the confusion, experimentation, and uncertainties of Wonderland between childhood and adulthood Alice realizes in her unconscious state that she is changing from simple child into a young woman. Although the novel is notorious for its satire and parodies, Alice’s Adventures in Wonderland main themeRead MoreMimesis in Alice in Wonderland2678 Words   |  11 Pagesmimesis in Alice in Wonderland and Through the Looking Glass A quest in search for the elements which consitute a new notion of mimesis in Carrolls Alices Adventures in Wonderland and Through the Looking-Glass Mimà ©sis ve svÄ›tovà © literatuÃ…â„¢e/Klà ¡ra Kolà ­nskà ¡, Úterà ½ 10:50 – 12:25 â€Å"Who in the world am I?† Ah, that’s the great puzzle.[1] This question, asked by Alice herself at the beginning of Alices Adventures in Wonderland, anticipatesRead More The Coming of Age Theme in Alice’s Adventures in Wonderland, by Lewis Carroll2641 Words   |  11 Pagesgirl named Alice. In the novel, Alice’s Adventures in Wonderland, Alice falls into the curious world of Wonderland. Alice assuages and manages inter-conflicts, such as her identity. Through the confusion, experimentation, and uncertainties of the Wonderland between childhood and adulthood Alice realizes in her unconscious state that she is changing from simple child into a young woman. Although the novel is notorious for its satire and parodies, Alice’s Adventures in Wonderland main theme is

Reflection On The World Religions Course - 861 Words

Mohamed .M. Shere World religions REFLECTION ON THE WORLD RELIGIONS COURSE. In the World religions class PHIL 1760, I have come to gain a lot of experience and learnt very helpful things in my life related to religion in particularly. I have come to learn that Religion is a way of life that one chooses to find his/her tranquility. For example Buddhists meditate as a means to find enlightment and they find such in only their religion and that’s the reason they have faith and hope in their religion. The purpose of this paper is to reflect on what I have come to learn about religion and, I will focus on three main point that are; how the ideas that I have about religion now are different from what I had at the beginning of the class, what I have learned about this class that is similar to what I have learned in another class and how I could assimilate what I have learned in this class with my life in general. My thoughts about religion when I was beginning this class was that I believed all religions didn’ t matter except the religion of Islam, because they may be wrong and not be the right religion, they should be ignored. I had this thought and belief since I was young because I believed that the religion of Islam is right, thus every other religion shouldn’t matter because they are wrong. For instance, I remember when I was a little kid and the cross would show up on the TV when we were watching TV, I would hide it and consider it ignorance. I had this belief till IShow MoreRelatedMy Reflection Of Religion784 Words   |  4 PagesLooking back on the first reflection paper during this class, I have a different outlook on the religion aspect of life. I’m not a religious person but I do believe in God, and the LBJE textbook we used gave a very different outlook on religion for me. I gained a vast knowledge on religion during this course. But due to not knowing much background prior to this course it was indeed a challenge for me. During this course my beliefs was both strengthened and challenged. My beliefs was challengedRead MoreReligion Reflection1043 Words   |  5 Pagessemester, we were required to write a reflection on our then-current knowledge of religion, women, and gender. I had very little knowledge of any religions other than Christianity because that is the religion I was raised in and continue to practice. As for women in religion, I also didn’t know much about except for Christianity, and even the extent of my knowledge in that area was limited. In reflection, after hearing several women from different religions speak as well as learning from texts andRead MoreGrand Canyon Int 244 Complete Course1616 Words   |  7 PagesGrand Canyon INT 244 Complete Course IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwnerd.com/Grand-Canyon-INT-244-Full-Course-5454544.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com ALL DISCUSSIONS AND ALL ASSIGNMENTS WEEK 1 DQ 1 The author of the course textbook offered his definition of religion. Based on your own spiritual understandings and beliefs, do you agree with this definition? ExplainRead MoreMarx, Weber, And Social Distress972 Words   |  4 Pagesrationalism. Many people of the day questioned religion and had no need for a God. Marx was born in 1818 and was the earliest of the other thinkers. The crazy thing is that he wrote very little as it is about religion. According to Marx, he sees religion as an ideology. Religious distress is at the same time the expression of real distress and also the protest against real distress. Religion is the sigh of the oppressed creature, the heart of a heartless world, just as it is the spirit of spiritlessRead MoreCreation Myths Essay504 Words   |  3 PagesCreation Myths Who made who? Did God create humans or did humans create god? At first thought one would of course say God created humans. Man cannot create god! What fool would dare say such a thing! After all the definition of God says that it is the supreme being and the divine creator, not the divine creation. So of course God created man, right? Or shall we dig a little deeper into this question and examine it from the other side? Is God just a figment of mansRead MoreHinduism Religion759 Words   |  4 PagesConsidering that Hinduism lacks a uniting belief system, what makes up the Hindu religion is Sanarana Dharma, which is also known as Hinduism, an alternative label that is preferred today. Hinduism is the traditional religion of India. Sanatan Dharma is one of the oldest religions known to mankind and Hinduisms religion is still in practice today. The spiritual expressions of Sanatana Dharma range from extreme asceticism to the extreme sensuality, from the heights of personal devotion to a deityRead MoreTaking a Look at Morality1395 Words   |  6 PagesHowever, some people think that in order to have a strong morality one must first have a religion. On the other hands, others believe that there is no such thing as a having morals only if religion is involved. It’s hard to analyze because for many years we have been thought to bel ieve that religion is a way of spirituality that will help our lives instead of corrupting it. I think that the main purpose of every religion is to help their neighbors and promote their God as the fully good and omnipotent whichRead MoreEssay on Reflection On World Religion983 Words   |  4 PagesReflection on World Religions It has been an outstanding five weeks. This was the course that Ive been waiting to take since I started Capella back in April of 2004. Finally after weeks of reading World Religions by Huston Smith, I have developed an understanding of some of the worlds religions. I can never be an expert in this field, and I dont want to, but at least I have an idea where these religions originated and have a general concept of the beliefs behind each religion. Each of theRead MoreBuddhism, Christianity, And The Prospects For World Religion1392 Words   |  6 PagesBuddhism, Christianity, and the Prospects for World Religion: Criticism on Dalai Lama’s Interview by Jose Ignacio Cabezon Introduction Born in China, Dalai Lama who originally was called Tenzin Gyatso was the spiritual leader of Tibet. He reined this region from 1950 after being declared the spiritual leader in 1937. His advocacy was for non-violent liberation and this made him earn a Nobel Prize in 1989. The objective of this paper is to offer a detailed analysis and criticism of the response ofRead MoreMy Experience At The Old Stone Age940 Words   |  4 Pagesand more. After a long, enjoyable semester taking this online course, I gained a better understanding of the term â€Å"culture†. â€Å"Culture is the characteristics and knowledge of a particular group of people, defined by everything from language, religion, cuisine, social habits, music and arts (Live Science).† Being an open-minded person, I have always been open to learning different cultures. Of course, different regions of the world present a very unique way of life. For example; in Cambodian culture

Working Capital Analysis Free Essays

string(107) " can brings the liquidity problem in short term and solvency problem in long term due to loss on business\." CHAPTER-I INTRODUCTION 1. 1 Back ground of Study Working Capital refers to that part of the firm’s capital, which is required for financing short-term or current assets such a cash marketable securities, debtors and inventories. Funds thus, invested in current assets keep revolving fast and are constantly converted into cash and this cash flow out again in exchange for other current assets. We will write a custom essay sample on Working Capital Analysis or any similar topic only for you Order Now Working Capital is also known as revolving or circulating capital or short-term capital. Therefore, working capital management is the same of liquidity management and its relate inversely with profitability. It is significance for any industries due to the investment in Current Assets (CA) must be adequate because inadequate or excessive inadequate working capital can disturb production and can also threaten the solvency of firm, if it fails to meet its current obligation excessive investment in CA should be avoided, since it impairs firm’s profitability Secondly, need for working capital arises due to increasing level of business activity ; it is to provided quickly some time surplus fund may arises which should be invested in Short term securities , they should not be kept idle. The importance of Working capital management compelled to the firms to try the optimal level of investment in each element such as inventories, cash, account receivables but the firm also consider to way of financing the current assets. This means, consideration of current liabilities which include account payables, notes payable, interest payable and other shot-term debt. In addition, the firm can adopt an aggressive working capital management policy with a low level of current assets as a percentage of total assets, or it may also be used for the financing decisions of the firm in the form of high level of current liabilities as a percentage of total liabilities(Nazir and Afza,2009), and it is the opposite in conservative working capital management policy. On the other hand, it should be distinguished between three policies that related directly with the working capital efficiency. First policy is collection policy, that measured by average receivables collection period (ARCP) which is meaning the average length of time required to convert the firm receivables into cash. Second policy is inventory policy, which expressed by average conversion inventory period (ACI). It means the average length of time required to convert raw materials into finished goods and then sell these goods. Third policy of working capital efficiency is payment policy, which measured by average payment period (APP) that means the length time between the purchase of materials and the payment of cash (Weston and Brigham,1993). These policies require from company to accelerate the collections of receivables, accelerate its inventory, accelerate the payment cycle, and reduce the cost of the working capital needs. Above mentioned policies can be merged them in one general policy, is called cash conversion cycle (CCC) developed by Richards and Laughlin(1980) which focuses on the length of time between when the firm makes payments and when it receives cash inflow. To fulfill the one of the most important goal of organization to maximization of share holder’s wealth of a firm is possible only when there is sufficient return from the operations and successful sales activity is necessary for earning profit sales without convert into cash immediately. To generate the sales and revenue activities there will be the s invisible time lap between the sale of good and receipt of cash. Hence, the time taken to convert raw material into cash is known as operating cycle that includes following activities in different phase. At first phase: * Conversion of cash into raw material * Conversion of raw material into work in progress * Conversion of Work in progress into finished goods * Conversion of finished goods into Sales ( Debtors and cash) At second Phase: Cash received and at third phase is payment of credit. A low cash conversion cycle allows the managers to minimize holdings of relative unproductive assets such as cash and marketable securities, preserves the firm’s debt capacity since less short-term borrowing is required to provide liquidity and corresponds to a higher present value of net cash flows from firms assets Moreover, the cash conversion cycle is an important technique of analysis for the financial mangers of firm to assess why and when the firm needs more cash to sustain its activities. I am going to comparative study of Surya Nepal Private Limited (SNPL) is an Indo-Nepal-UK joint enture, which started operations in Nepal in 1986. SNPL, a subsidiary of ITC Ltd, India, is the largest private sector enterprise in Nepal. The balance shares are held by dispersed Nepalese shareholders and British American Tobacco, UK. Surya Nepal’s businesses include manufacture and marketing of cigarettes and readymade garments in Nepal as well as exports of ready-made garments wi th a total turnover of over US $100 million. Secondly, The guiding force behind Dabur’s growth and success has been the wealth of nature and its limitless capacity to support life. And we have constantly taken care to preserve and protect this natural bounty. With this overall vision of and to eco-sustenance, expand Dabur’s resource and production base, Dabur Nepal Private Limited was set up as an independent Group company in 1992. This new company, set amidst the verdant greens and towering mountains of the Himalayan kingdom of Nepal, has established a unique bond of technology and preservation. 1. 2 Problem of Statement The management of a company’s working capital significantly influences its profitability. In the short term, companies risk being short on liquidity if the working capital level deteriorates. In the long term, too much working capital lowers the return on investment and reduces the value of the company. In contrast, a reduction of the working capital can significantly improve cash flows and free up capital from a company’s balance sheet. This capital can then be used to reduce debts, pay dividends to investors or reinvest in company growth. In the context of Nepal there is not practically implementation of working capital management technique that can brings the liquidity problem in short term and solvency problem in long term due to loss on business. You read "Working Capital Analysis" in category "Essay examples" This can be the one most important reason for the lower growth rate of manufacturing firm. I want to gain insight into this field and to identify potential areas for optimization of working capital management for the profitability on the Nepalese manufacturing firm. Performance of firm on the topic of working capital management is very essential to reach the optimum level of working capital then to enhance their profitability. But these elements can be affected by Nature of business, seasonality of operations, production policy, market condition, and political scenario. Therefore, I have done this investigation to know the answer of following question. a. What are the factors of working capital for Nepalese manufacturing firm? b. How can working capital affects the performance to enhance profitability of firms? c. How is the performance of firm to achieve the optimal working capital in order to maximize the profitability? 1. 3 Objective of the Study The main objective of the research is to measure the impact of working capital management on the profitability for Nepalese manufacturing firm. The specific objectives of the study are summarizing as following. a. To analyze the relationship between working capital management and profitability for manufacturing firm. b. To determine the relationship between size of firm and the profitability c. To Know the relationship between leverage and profitability. 1. 4 Limitation of the Study This study is intended to measure the impact of working capital management on profitability of Nepalese manufacturing firm but the study also influences from the following limitation. a. There isn’t financial sponsor for the depth study. b. Due to the time constraints it is not possible to analyze the each variable in details. c. In depth analysis and the study of financial position is not feasible because of the policy and privacy of firm. d. The information is assuming true that is taken from different source. CHAPTER-II LITERATURE REVIEW 2. 1 Literature Review According to Wilner (2000) most firms extensively use trade credit despite its apparent greater cost, and trade credit interest rates commonly exceed 18 percent and Deloof (2003) also found that according to National Bank statistics during 1997, Belgian companies had accounts payable of only 13% of the total asset and accounts receivable and Inventory of 17% and 10% of the total asset respectively. Singh and Pandey (2008) discussed the impact of working capital management in the profitability of Hindalco Industries Limited. Regression results showed that current ratio, liquid ratio, receivable turnover ratio and working capital to total assets had statically significant impact on profitability. Dong and Su (2010) examined the relationship between profitability, the cash onversion cycle and its component for listed firms in Vietnam stock market for period (2006-2008). They resulted that there is strong negative relationship between cash conversion cycle and the profitability. Cote and Latham (1999, p. 261) argued that management of receivables, inventory and accounts payable have tremendous impact on cash flows, which in turn affect the profitability of firms. According to Long, Malitz and Ravid (1993) it is seen that liberal credit terms to the customers increase the sales level of the firm, though having a continuous troubleshooting with managing short term financing in the finance department. The decision lays with the firm which one to put more importance on. Scherr (1989, p. 6) claimed that companies can strengthen strong cash flow levels, improve profitability, budgeting and forecasting process, predictability and manageability of results, heighten risk if they implement the best practices in working capital. Amit, Sur and Rakshit (2005) studied the relationship between working capital and profitability in the context of Indian pharmaceutical industries and concluded that no definite relationship can be established between profitability and liquidit y. Cote and Latham (1999, p. 61) argued that management of receivables, inventory and accounts payable have tremendous impact on cash flows, which in turn affect the profitability of firms. Scherr (1989, p. 16) claimed that companies can strengthen strong cash flow levels, improve profitability, budgeting and forecasting process, predictability and manageability of results, heighten risk if they implement the best practices in working capital. Eljelly(2004) identified the relation between profitability and liquidity who was examined, as measured by current ratio and cash gap (cash conversion cycle) on a sample of joint stock firms in Saudi Arabia. The study found that the cash conversion cycle was of more importance as a measure of liquidity than the current ratio that affects profitability. The size variable was found to have significant effect on profitability at the industry level. The results were stable and had important implications for liquidity management in various Saudi firms. First, it was clear that there was a negative relationship between profitability and liquidity indicators such as current ratio and cash gap in the Saudi sample examined. Second, the study also revealed that there was great variation among industries with respect to the significant measure of liquidity. Sur Biswas and Ganguly (2001) revealed in their study of Indian aluminium producing industry, a very significant positive association between liquidity and profitability. All previous studies had reached to the same results approximately, which had proved there is the negative relationship between the working capital, debt ratio, current ratio and profitability, and the positive relationship between size of the firm with profitability. This study tries to depend on previous studies to provide new evidence on how working capital can effect on the profitability. . 2 Research Frame Work Model ROA Leverage Performance Working Capital Efficiency Profitability of the Firm Size of Firm Current Liabilities Current Assets Organization Planning Growth of business Ln of Sales Debt ratio Liquidity ratio: CR All the components such as Working Capital, Profitability and Size of the firms, Liquidity, and Leverage performance are interrelated to each other. The working capital affects the profitabil ity of the firm. Similarly size, leverage, and liquidity affect the working capital requirement and profitability of the firm. If there is low in current assets then it can’t pay the short term obligation and if firms keep in high ratio then investment opportunity will lose that decreases the value of profitability elements such as ROE and ROA. Secondly, if there is high concentration on sales by keeping low liquid assets then profit can increase and it helps to increase the growth rate of company and fulfill the objective of shareholder’s wealth maximization and ease for the competition but low liquid assets can creates the risk of liquidity. Therefore, all components of above mentioned are interrelated positively and negatively. After analyzing the financial ratio BOD, manager can formulate the policy for sustainable business as well as investors will take best decision for the investment. This study has been guided according to the above variables and discussed the variables relation after studied of two firms in detail in the below. Hence, this study will benefit for the best decision of working capital requirement to manage the profitability, leverage in long term and to growth the firm in stable rate. CHAPTER-III DATA COLLECTION AND METHODOLOGY 3. 1 Research Data Collection The data has taken from the secondary source regarding to the official site of Surya Nepal Pvt. Ltd and Dabur Nepal Pvt Ltd. Secondary data is assumed as an enough and reliable. Sample of this study has been focused on the joint venture Nepalese manufacturing firms. These two firms have chosen as a sample company due to big market in Nepal. To fulfill the objective of research, report is prepared by taking a financial data of two sample companies from 2006 to 2011. 3. 2 Definition of variable I have used of dependent and independent variables to complete the study are as below. Dependent variables include profitability measure which will be computed by the following equation: Return on Assets (ROA)=Net Operating IncomeTotal Assets Secondly, independent variables have been divided in two parts. First part includes working capital management variables. †¢ Average receivable collections period (ARCP) are used to express the credit policy. It is calculated by using following equation: Average receivable collections period (ARCP)=Account Receivables *365/Sales †¢ Average conversion inventory period (ACIP), which is expressed the inventory policy. It will be identified by following formula: Average conversion inventory period (ACIP)= Inventory *365/Cost of Sales †¢ Average payment period (APP) is used to reflect the payment policy it is measured measured by following equation: Average payment period (APP) =Accounts Payables *365/Cost of Sales †¢ Cash conversion cycle (CCC) is used to express the overall impact on working capital efficiency, and that is calculated by using following equation. Cash Conversion Cycle (CCC)=ARCP+ACIP-APP At the second phase of independent variables has been included as below. †¢ Size of the company = Natural of logarithm of sales (LNS). Current ratio (CR) = Current assets/Current Liabilities. †¢ Financial leverage ratio (FL) = Total Liabilities / Total Assets. 3. 3 Empirical Analysis This section contains the descriptive analysis by taking the help of mean, standard deviation, maximum and minimum value of all variables that is used in study. Similary, on the second phase of anal ysis here has been explained the relationship between the variables by using correlation coefficient. Moreover, regression model has been used to quantify the relation between variable and to measure the accuracy of this report. Multiple regression models have used to complete the regression analysis. All types of analysis and graphical representation will be expressed by using the MS office package 2007. For this study I have used 4 regression models to quantify the relation and model is as below. 1. ROA= a+b1ARCP+b2CR+b3FL+b4LNS (model -1) 2. ROA= a+b1ACIP+b2CR+b3FL+b4LNS (model-2) 3. ROA= a+b1APP+b2CR+b3FL+b4LNS (model-3) 4. ROA= a+b1CCC+b2CR+b3FL+b4LNS (model-3) CHAPTER-IV DATA ANALYSIS AND PRESENTATION 5. 1. Empirical Analysis and Findings 4. 1. 1Descriptive Analysis: Dabur Nepal Pvt. Ltd (Table 1) | ROA| ARCP| ACIP| APP| CCC| CR| FL| Lns|   |   |   |   |   |   |   |   | Mean| 0. 034| 35. 67| 75. 12| 42. 35| 68. 44| 2. 00| 0. 248| 21. 73| Standard Deviation| 0. 028| 19. 74| 31. 74| 35. 27| 39. 24| 0. 676| 0. 055| 0. 346| Minimum| 0. 001| 4. 13| 17. 37| 8. 33| 6. 30| 1. 52| 0. 207| 21. 39| Maximum| 0. 084| 55. 23| 111. 78| 93. 46| 120. 94| 3. 19| 0. 351| 22. 38| Count| 6| 6| 6| 6| 6| 6| 6 | 6| According to the above table, ROA on average is 34% and ROA existed between 0. 1 % to 0. 84%. The average receivables collection period has 5 days (approximately) as minimum to collect its receivables from the purchasers but it takes 55. 23 days as maximum to collect its receivable. The average days of generating its sales on account about 35. 67 days. In addition, the average conversion inventory period (ACIP) takes about 17. 37 days to sell all its inventory as minimum and takes 111. 78 days as maximum. The mean days to sell the inventories are 75. 12 days with standard deviation of 31. 74 days. About the APP, the firm has a minimum time 8. 33 days to pay its purchases on account and 93. 46 days as a maximum time. It takes an average 42. 35 days to pay its purchase with standard deviation of 35. 27. The cash conversion cycle (CCC) has 6. 30 days as a minimum time and maximum is 120. 94 days. The minimum current ratio (CR ) of the firm is 1. 52 and maximum is 3. 19 with the standard deviation of 0. 55%. The Natural Logarithm of size (LNS) shows minimum sales is 21. 39 and maximum is 22. 38 with the average of 21. 73. About the financial leverage is 20% as minimum and maximum is 35% with the standard deviation of 0. 55%. Surya Nepal PVT. LTD (Table 2) | ROA| ARCP| ACIP| APP| CCC| CR| FL| LNS| |   |   |   |   |   |   |   |   | Mean| 0. 287| 5. 11| 191. 55| 63. 45| 133. 21| 1. 72| 0. 424| 22. 82| Standard Deviation| 0. 086| 2. 90| 21. 84| 5. 88| 19. 96| 0. 678| 0. 152| 0. 339| Minimum| 0. 178| 2. 54| 170. 51| 57. 0| 110. 72| 1. 06| 0. 255| 22. 42| Maximum| 0. 389| 9. 86| 232. 04| 73. 16| 167. 62| 2. 44| 0. 594| 23. 31| Count| 6| 6| 6| 6| 6| 6| 6| 6| an average return on assets(ROA) is just 28% which is lower than Dabur Nepal Ltd. But the minimum and maximum value of ROA exists between 17 % to 38 % and less variability comparison with Dabur Nepal Ltd. The Aver age receivable collection period (ARCP) is 5. 11 days approximately and lower than Dabur. Thus, collection capacity of dabur is very strong. similarly, ACIP of Surya Nepal exist between 170. 51 days to 232. 04 days. About the average CCC of Surya Nepal is 133. 1 days which is higher than Dabur Nepal. Therefore, we can say that, cash inflow days in the Dabur Company are quicker than Surya Nepal. Moreover, an average 42% portion is existed under the total assets of the Surya firm that is higher than Dabur Company. It means, Surya Nepal takes more loans for the business. About the average size of Surya Nepal is 22. 82 that is higher than Dabur. Graph: 1 source Table 1 and 2 Let summarize the above result: a. ROA of Surya Nepal is higher that tends to the meaning of; profitability volume is good rather than Dabur Nepal Pvt. Ltd. b. Credit collection capacity is stronger of Surya Nepal Pvt. Ltd. c. Surya Nepal Ltd. takes more time to convert the goods in raw material. d. Surya Nepal pays to supplier at delay comparison with Dabur. e. CCC of Surya is higher due to higher in ACIP and APP. 4. 1. 2. Correlation Coefficient Analysis Dabur Nepal Ltd. (Table 3) | ROA| ARCP| ACIP| APP| CCC| CR| FL| Lns| ROA| 1|   |   |   |   |   |   |   | ARCP| -0. 903| 1|   |   |   |   |   |   | ACIP| -0. 666| 0. 537| 1|   |   |   |   |   | APP| -0. 074| 0. 141| 0. 705| 1|   |   |   |   | CCC| -0. 927| 0. 811| 0. 446| -0. 258| 1|   |   |   | CR| 0. 835| -0. 627| -0. 888| -0. 450| -0. 6291| 1|   |   | FL| -0. 095| 0. 285| -0. 007| -0. 152| 0. 2743| 0. 48| 1|   | Lns| 0. 144| -0. 172| 0. 348| 0. 609| -0. 352| -0. 203| -0. 572| 1| Surya Nepal Pvt. Ltd (Table 4) | ROA| ARCP| ACIP| APP| CCC| CR| FL| LNS| ROA| 1|   |   |   |   |   |   |   | ARCP| -0. 420| 1|   |   |   |   |   |   | ACIP| 0. 393| -0. 174| 1|   |   |   |   |   | APP| -0. 359| -0. 402| 0. 441| 1|   |   |   |   | CCC| -0. 263| 0. 073| 0. 939| 0. 130| 1|   |   |   | CR| -0. 892| 0. 493| -0. 443| -0. 736| -0. 196| 1|   |   | FL| -0. 869| -0. 457| 0. 541| 0. 769| 0. 299| -0. 992| 1|   | LNS| 0. 958| -0. 437| 0. 569| 0. 464| 0. 423| -0. 893| 0. 902| 1| According to the Table 3 and 4, Return on Assets (ROA) has negative relationship with ARCP. It tends to the meaning of longer the time of collection days reduces the profitability of firm. Therefore, if a firm reduces the length between sales and collection, it will increase the profitability through reinvest collections in profitable investments. Correlation results related negatively between the average conversion conversion inventories (ACIP) and ROA significantly in the case of Dabur. It means when the firm reduces the length time required converting raw material in to finished goods and then to sell those goods that lead to enhance profit. But in the case of Surya Nepal, there is positive relationship between ARCP and ROA. It means, it should take more stock for the high profit. The average Payment Period (APP) has negatively correlation with Profitability. It means, if the both firm shorten the length time between purchases goods and payment of the value of goods, it will lead to increase profitability. There are negative relationship between cash conversion cycle (CCC) and ROA. If the firms shorten its conversion cycle as much as possible without hurting its operation, it will reflect positively on profitability. Correlation coefficient of the size (LNS) firm is positive relationship with profitability that indicates if the firm increases its size of sales; it will lead to increase its profitability. Current ratio refers to liquidity of the firm which relates positively correlated with ROA in case of Dabur but negatively correlated with ROA in case of Surya Nepal. Generally, if the firm invests its liquidity very well, it will generate high return and as per situation there might be required or not for holding of stocks in long term. About the Financial leverage that is negatively correlated with profitability. It means, if the firm depends on the financial leverage as much as need, ti carry itself financial obligation such as interest payment and principal payment and then it reflects negatively on its profitability. Dabur Nepal Pvt. Ltd. (Table 5) Year| 2006| 2007| 2008| 2009| 2010| 2011| ROA| 0. 031| 0. 030| 0. 022| 0. 001| 0. 084| 0. 038| CCC| 85. 74| 86. 30| 63. 87| 120. 93| 6. 29| 47. 46| Source Table 5. Graph 2 Conclusion: According to the above finding, the increasing in the value of CCC that decreases the value of ROA. And it is proved that there is negative relationship between ROA and CCC. Surya Nepal Pvt. Ltd Graph 3. Conclusion: In the case of Surya Nepal Pvt. Ltd, there is positive relationship between ROA anc CCC. This means to increase the profit of Surya firm then they have to increase the value of working capital component. 4. 1. 3Regression Analysis: Dabur Nepal Pvt. Ltd Table 6 Independent Variables| Model-1| Model-2| Model-3| Model-4| ARCP| -0. 001|   |   |   | ACIP|   | -0. 020|   |   | APP|   |   | -0. 0003|   | CCC|   |   |   | -0. 0004| CR| 0. 020| 0. 115| 0. 045| 0. 017| FL| -0. 021| -0. 577| -0. 178| -0. 015| Lns| 0. 014| 0. 053| 0. 008| 0. 002| Adjusted R^2| 0. 780| 0. 7| 0. 517| 0. 815| F-test| 0. 010*| 0. 01*| 0. 0051*| 0. 077**| Surya Nepal Pvt. Ltd Table 7 Independent Variables| Model-1| Model-2| Model-3| Model-4| ARCP| -0. 003|   |   |   | ACIP|   | 0. 907|   |   | APP|   |   | -0. 008|   | CCC|   |   |   | 0. 953| CR| 0. 275| 0. 360| 0. 221| 0. 275| FL| -1. 188| -1. 599| -0. 055| -1. 188| Lns| 0. 24 5| 0. 224| 0. 069| 0. 245| Adjusted R^2| 0. 770| 0. 67| 0. 71| 0. 79| F-test| 0. 0876**| 0. 0035*| 0. 012*| 0. 0144*| In the above table, F-test has been done at 5%=* and 10% =**significance of level. Table 6 and 7 presents the regression result of two firms of 4 models. According to the table 6 and 7, ARCP and ROA have negatively correlated. For the both Company if there is 1% increase in the days of collection period than less than 1% will decrease on the value of profitability. Similarly, for the both firm, liquidity ratio and size of firm is positively correlated. It means, increases in the sales that will increase the profit volume. Positive value of CR and LNS but negative value of financial leverage (FL) is accepted by all models. This means, if loan amount is increased by 1% then profit will decreased by 0. 21% in case of Dabur but more than 11% in case of Surya Nepal. All the, result revealed that, to increase the profit, firm should decrease the loan amount. According to the Model 4 from table 6, there is negative relationship between ROA and cash conversion cycle. This means, to increase the profit, Dabur should reduce the CCC. It is also supported by the theory of higher the working capital leads to the lower of profitability. On the other hand, model 4 from table 7 reveals that there is positive relationship between ROA and CCC. This result is beyond the theory and if Surya Nepal wants to increase its profit then it should increase the Working capital. It may the cause of poor situation of Nepalese economy, nature of business as well as less concentration on environment management that is leading to keep higher amount of stock. According to table 6, model 1 , 2 ,3 and 4 explained the dependent variable by independent in the portion of 78% , 77% , 51%, and 81 % respectively and remaining portion is due to other element. But in the table 7, dependent variable (ROA) is explained by independent in the form of 77%, 67%, 71%, and 79% and remaining part is covered by other elements. CHAPTER-V CONCLUSION AND RECOMMENDATION 5. Conclusion and Recommendation Working capital management is the same of liquidity management and its related inversely with profitability but this theory always doesn’t work. Here, I have found the different relationship between the component of working capital and profitability by taking financial data of Dabur Nepal Ltd and Surya Nepal Pvt. Ltd manufacturing from 2006-2011. This study appears that there is a negative significance relationship between average receivables collection period (ARCP), average conversion inventory period (ACIP, only case for Dabur), average payment period (APP) and the profitability measures. It is proved also a negative relationship between the cash conversion cycle (CCC) from the data of Dabur Company but it is not the result of universal fact because it is also proved that there can be a positive relationship between CCC and Profitability. The reason behind this can be the political risk, poor economy, lack of availability of raw materials and delivery of goods and services in time due to the labor union problem, increasing in supplier power, unavailability of credit facility, poor management of current assets and lack of efficient procedure and subsidy facility from government. After this analysis, the study recommends for the firms to manage their working capital efficiently to achieve the optimal profitability. Thus, the firms can manage their working capital through reduce the length time between sell the goods and receive cash of sales, it can do that by accelerating its collections. And it also reduce the length time between convert the raw materials into finished goods to sell these goods through. On the other hand the firms should shorten the length time between purchase goods to pay their purchases. All these will lead to shorten the cash conversion cycle and then lead to achieve the optimal profitability. Moreover, we can’t say that there will be lower profit due to higher CCC because due to the environmental factors the component of working capital can be influenced and result can go beyond the planning and objective. In the context of Nepal, where the practices of working capital management is poor and as a result firms are generating lower profit. Secondly, long procedure of raw material conversion and delay of payment also reduces the profit of firm. It can be the one cause of Positive relationship between CCC and profitability in case of Surya Nepal Pvt. Ltd. Therefore, reduction of working capital is not only best solution because environment analysis is also important factor. References: Amit, K. Malik, Debashish Sur and Debdas Rakshit (2005). Working Capital and Profitability: A Study on their Relationship with Reference to Selected Companies in Indian Pharmaceutical Industry, GITAM Journal of Management. 3: 51-62. Deloof M (2003). â€Å"Does Working Capital Management Affect Profitability of Belgian Firms? J. Bus. Financ. Account. , 30(314): 573-587. Dr. S. , Ray â€Å"Evaluating the Impact of Working Capital Management Components on Corporate Profitability: Evidence from Indian Manufacturing Firms† 2012 Eljelly, A. M. (2004). Liquidity –Profitability Tradeoff: An Empirical Investigation In An Emerging Market, International Journal Commerce and Management. 14(2), 48-61. J. , Desai ; N. , A. Joshi, â€Å"Effec t of Working Capital Management on Profitability of Firms in India† March 2, 2011 ; http://papers. ssrn. com/sol3/papers. cfm? bstract_id=1774686; Lazaradiz, I and Tryfonidis, D. (2006). Relationship Between Working Capital Management And Profitability Of Listed Firms In the Athens Stock Exchange, Journal of Financial Management and Analysis. 19(1), 26-35. Mukhopadhyay, D (2004), Working Capital Management in Heavy Engineering Firms- A Case Study, myicwai. com. knowledge/fm48. Raheman, A. , ; Nasr, M. (2007). Working Capital Management And Profitability – Case Of Pakistani Firms. International Review of Business Research papers, 3(1), 279 – 300. Scherr, F. C. (1989). Modern Working Capital Management, Text and Cases. Englewood Cliffs, New Jersey: Prentice-Hall International Editions. Sur, D. , Biswas and Ganguly, P (2001). Liquidity Management in Indiaan Private Sector Enterprises: A case Study of Indian Primary Aluminium Producing Industry, Indian Journal of Accounting. June: 8-14. Shin, H, H and Soenen, L. (1998). Efficiency of working Capital Management and Corporate Profitability, Financial Practice and Education8 (2),37-45. How to cite Working Capital Analysis, Essay examples

Validity of Waterlow Scale free essay sample

Pressure ulcers are areas of localised damage to the skin and underlying tissue caused by pressure. (Stechmiller et al. , 2008) Pressure ulcers still one of the most significant health problem in our hospitals today, It affects on patients quality of life patient self-image and how long they will stay in hospital then the cost of patient treatment . Moore (2005) estimate that it costs a quarter of a million euro’s per annum to manage pressure ulcers in hospital and community settings across Ireland . which allows one to take immediate actions and prevent the ulcer if possible. To support pressure ulcer risk assessment several standardized pressure ulcer risk assessment scales have been introduced and their application in clinical practice is recommended (Stechmiller et al. , 2008). one of the most common scales used in our hospitals is the Waterlow scale, This scale was designed by Waterlow in 1985, from study in elderly and acute wards (waterlow,1985). The Waterlow Scale assigns believed to predispose patients towards developing pressure ulcers: build/weight, continence, skin type mobility, sex/age, appetite, tissue malnutrition, neurological deficit, surgery/trauma and specific medication. We will write a custom essay sample on Validity of Waterlow Scale or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The total scores achieved within each factor are summed to derive the Waterlow score, with higher scores believed to mark greater vulnerability. (Waterlow, 1985) A score of more than 10 is classified as(at risk) between 15 to 20 as (high risk) and more than 20 as (very high risk). This essay incorporates three major aspects with regards to the waterlow scale in respect to pressure ulcer. These aspects includes the high risk population ,the reliability /validity and advantages and disadvantages of waterlow pressure ulcer scale.b  which population(s) the waterlow scale is applicable to? Waterlow scale one of the famous scales to assess the pressure ulcer. the Waterlow Scale is the most widely used in health care settings (Thompson, 2005). and widely use with patients after surgery and trauma (orthopaedic and spinal surgery) also with patients have neurological deficits (DM,CVA) ,organs failure and in bad peripheral circulation. (waterlow,1985). When we use this tool with elderly we s hould know the elderly people already have bit of neurogenic deficit, weakness and continent. (cook et al. ,1999). The scale used for Patients admitted to hospital or otherwise confined to a bed, chair, or wheelchair because they are at risk from developing pressure ulcers. ( Anthony et al. ,2000). Researchers have identified advanced age (older than age80), low diastolic blood pressure (less than 60), increased body temperature, and poor current dietary intake of protein as important predictors of Pressure ulcer risk. Other risks that should be taken into account are peripheral vascular disease, prolonged surgery (particularly involving extracorporeal oxygenation), or intractable pain. Allman (1995) found we need to use the pressure ulcer scale for hip fracture patients who will stay on bed more than 4 days and with unconscious patients more than 5 days . Anthony et al (2000) found the elderly people more than 64 years old need pressure ulcer assessment but we need to be aware the elderly people complain from neurogenic deficits and loss of appetite. The patients who are on ventilator and complete bed rest especially in ICU unit they risk for skin breakdown, so they need monitoring and assessment to prevent any pressure ulcer. Watkinson (1996)reliability: Through the reading to select the reliability and validity of waterlow pressure ulcer scale , the researchers suggested the waterlow scale is unreliable as method for pressure ulcer assessment. Several studies found the variance in scores because different in knowledge level not acceptable. A risk-assessment scale must be reliable regardless of the assessor. Many studies have evaluated the reliability, where two independent raters or observers assign the same ratings/values for an attribute being measured of the Waterlow Scale. Polit and Hungler (2001) . In (Shukla et al.,2008) study the Waterlow scale was used on 15 patients in two wards. Each patient was assessed daily by two different nurses over a period of seven days. A total of 28 clinical nurses were involved and a total of 210 assessments obtained. Statistical analysis demonstrated weak or a moderate degree of inter-rater reliability. Other authors suggested the water low scale too long and time consuming. Pang and Wong (1998). Edwards (1995) examined the reliability of the Waterlow Scale he did a cross-sectional observation survey of 40 elderly patients with or without ulcers in a community setting. The results failed to display high levels of reliability and in line with other studies over predicted ulcer development. Literature suggests that there limitation to using this scale with elderly people because the continence, neurological deficit and medication affect on scale result. (Cook et al. , 1999) said the Categories where disagreement occurred the most were (skin type), (build/weight for height) and (mobility) again indicating that the score is affected by a lack of adequate definitions in these categories. Furthermore, this study highlights that the elderly population proves difficult to obtain scores at the low end of the range. This indicates a limitation of the scale that perhaps the risk thresholds are too high for elderly people Other Literatures examined the scale parts and examined if the variation between nurses affect on scale result or not? Then Literatures suggested The categories of sex, age, and minor surgery showed a high degree of consensus in scores, but the raters varied most in the categories of mobility and skin type. Also difficult to differentiate between at risk, high risk, and very high risk status (Shukla et al. , 2008). The studies have indicated the Waterlow scale not having clear description and instructions for scale items and the scale result dependent on assessor judgment. Pang and Wong (1998). Kelly (2005) found lack of reliability of the Waterlow Scale is due to different perceptions of the patient by the nurses, According to Kelly (2005) found other problem may be due to the absence of the actual patient, Furthermore, this study highlights that nurses are not using the scale for the purpose intended. The studies shows the items poor nutrition, mobility and skin type are difficult to rate and cause to errors in the total score. Furthermore, the reliability of the total score and the items has never been investigated in clinical practice. And clinical value of using this instrument is not clear and it should only be applied with caution. (Gould at al. , 2002) Validity Several Literatures examined the validity of waterlow scale. (Pancorbo-Hidalgo et al. , 2006) suggested the scale has very good pressure ulcer risk prediction capacity, offers a high-sensitivity but a low-specificity score. Other studies found the scale’s high sensitivity and low-specificity level include Pang and Wong (1998), and (Balzer et al. , 2007). The studies highlighted the scale to display high-sensitivity but low-specificity levels. Edwards (1996) believes the scale performs better as a diagnostic rather than a predictive tool. Although it contains a category for skin assessment, it will almost inevitably achieve high sensitivity. Another point suggested by Edwards (1996) is its inappropriateness in dealing with the elderly. This is because of high weighting given to age within the score. Although the Waterlow Scale has been reported to be of use in a variety of clinical specialties, some studies emphasised that the scale is not good to all groups, for example, wheelchair users (Anthony et al. , 1998). Other studies suggest some subscales its poor predictive validity. Such as the mobility, continence, neurological deficit and medication subscales have created problems, in assessing a patient due to lack of clarity and descriptions. (Cook et al. , 1999). Recent studies reviewed the three most commonly used pressure ulcer risk assessment scales. The Waterlow scale, the Braden scale and the Norton scale. The study shows The Waterlow scale is the most widely used risk assessment scale in the united king dome and Ireland, even though there is no evidence to suggest it is more effective than the other most commonly used scales. Frank et al ( 2003) found the waterlow scale may over predict risk, then that cause cost implications as expensive, preventative equipment is employed when it may not be necessary; or under predict risk so that someone assessed as not being at risk develops a pressure ulcer.