Patton Fuller Financial Statements Essay Example for Free

Patton Fuller Financial Statements Essay Financial statements hold a great deal of information on them and there are many things to consider when reviewing them. A financial statement can be audited or unaudited which vary in expense information. There are effects of revenue sources to consider and businesses have a different revenue every year. They can either be close in dollar amount or could vary significantly. The financial goal to how much revenue a business wants to make should be set in order to plan and control for expenses that the business must pay for in case of emergencies. Financial statements are very detailed and are well informative of the financial status of a business. Audited Versus Unaudited In the Patton-Fuller revenue and expense statement report, the audited or unaudited financial statements vary in their particular expense information. A considerable reduction in the analysis of income is the fundamental procurement of every doubtful account. The distinct term refers to fixed number of accounts receivable that will eventually become bad debt or standardized as unvaluable funds. A statement furnished concerning all third party reports shall always demonstrate the distribution of doubtful accounts noteworthy as an expenditure (Baker Baker, 2011). Management of the doubtful accounts have a million dollar increase particularly on the audited statement report in comparison to the unaudited report. All the allotments in the calculated amounts vary within the net income and operating income from signifying a profit that undoubtedly shows a loss. An audited balance statement affirms an amount of one million dollars that is reduced in revenue corresponding with the unaudited report on the present profit listed that relates to patient balance due.

Advantages and Disadvantages of Single-Sex Classrooms

Advantages and Disadvantages of Single-Sex Classrooms Single-Sex Classrooms Imagine attending an all boys or all girls school while you were growing up. For some people this was reality, but for most people they have always attended a coeducational school. There are many opinions on single sex classrooms, as the topic arises in areas as a potential solution to enhancing students performances. According to LynNell Hancock the author of, A Room of Their Own, critics worry that single sex classrooms will create more gender inequality and set us back further in time by creating unfairness in the classroom(Hancock, 1996).[1] However even though some may believe it will create a set back in gender equality, having single-sex classrooms may be exactly what America needs to boost international test scores and students performances.Although many critics think single sex classrooms are insufficient because they separate the sexes, they are efficient because there are many ways that they enhance student’s performances by focusing on gender needs and eliminating distractions.[2][3][4]Currently America is seeing a drop in the youth’s test scores in school and are seeking out options for solutions to these low scores. This poor performance has led to calls for changes in public school education. According to the Article Boys and Girls learn differently! A Guide for teachers and parents by Michael Gurian,Patricia Henley, and Terry Trueman, one solution the country may be thinking of to bring up the low scores in classrooms could be single sex classrooms (2001).The reason for this is because the country wants to see how single-sex classrooms would affect the youth’s scores and change their performance in school overall.For our young ones this may mean they will see less coeducational classrooms and more single sex classrooms being implemented around the country and possibly in their own school. Some believe the reason our youth generation are receiving such low scores is possibly because of the social pressure they face each and e veryday in the classroom. According to Peter Simon the author of, Single Sex Classrooms minimized Distractions at Two Buffalo Schools, Simons claims that boys and girls going through adolescents need their own rooms for teaching, so they can focus on school more and not just on each other(Simon,2008). For kids going through adolescence the only thing they fear is being judged and their self image. So being in front of the opposite sex and performing or presenting can create a lot of pressure and damper their scores. This is one of the many reasons people feel that single-sex classrooms are a very effective way to stop physical and mental distractions. Although many feel that single-sex classrooms can decrease distractions, there are many different views people have when it comes to this topic. Smithers and Robinson the authors of, [5][6][7]The paradox of single-sex and coeducational schooling,had conducted a study of reviewing girls and boys together in classrooms and separately to see how it affects the students(2006).They looked at studies from New Zealand, the U.S., Ireland, Canada,the United Kingdom, and Australia and from their findings the two authors had concluded that single sex classrooms does not bring an advantage or disadvantage to the students or the schools. [8][9][10]This is an example of a point of view where they may feel that single-sex and coeducational classrooms make no difference because it all depends on the students in the study and how the teachers are also making a difference for these students. In this study they found that they believe both single-sex classrooms and coeducational classrooms have advantages and disadvantages but neither is considered better or worse. Single-sex classrooms do have their advantages to a child’s performance. In respect to the previous claim there is a beneficial outcome from single sex classrooms. For example at Houghton Academy in Buffalo, New York in a single-sex classroom the amount of students who had passed the states eighth-grade math exam went from 30.8% of students to 60% of students due to the single sex classrooms implemented into the school(Peter,2008). Also there was a rise in english too. The passing rate improved from 28.6% to 40% of the students passing(Peter,2008). This means because of the single-sex classroom the test scores alone improved almost 50% for both subjects.That is a big improvement from coeducational to single-sex classrooms to show that they can make a difference in students’ performances. Many proponents of single-sex education believe that separating boys and girls increases students’ achievement and academic interest. One of those proponents being â€Å"girl power† and encouraging girls to participate more in subjects that are seen as more masculine. According to the article, Still failing at fairness: How gender bias cheats girls and boys in school and what we can do about it, by David Sadker and Karen Zittleman, teachers and schools worry that subjects seen as more masculine decrease young girl’s interests in pursuing these subjects because they feel intimidated(Zittleman and Sadker,2009)[11][12][13]. This means that when girls are in coeducational classrooms they feel less interested in the traditionally masculine courses such as mathematics, technology, engineering, and science because the boys make the classroom setting seem as if it is very competitive and do not allow for girls to participate as much. Author Erin Pahlke explains this in her article, The Effects of Single-Sex Compared With Coeducational Schooling on Students’ Performance and Attitudes,she claims that sin gle sex classrooms empower girls because it allows them to enjoy those masculine classes such as math and science without being intimidated by the boys and feeling that they are in a masculine based classroom(Pahlke,2014). This shows that girls have better confidence and can build their performance in mathematics and science when in single-sex classrooms. Although girls feel more comfortable separated from boys in the classes seen as more masculine, boys may not always benefit as much as girls. Nancy Protheroe author of,Single Sex Classrooms, claims that some teachers explain that they feel that boys feel uncomfortable in this type of classroom setting and that teaching in a single sex classroom of all boys is a demanding job for the teachers(Protheroe, 2009). One of those reasons may be because boys always like to compete with one another so the classroom is just a big competition between those students.This shows that even though one gender may feel more comfortable alone,that boy s may not feel as comfortable, and may not be able to perform better because of the pressure they feel in a masculine based classroom. One factor that can affect whether the student’s performance enhances in a single-sex classroom is the teacher. Some teachers may be willing to adapt to the new single-sex classroom. On the other hand some teachers may not want to teach single-sex classrooms so if they are being forced to teach a class they do not want then the children’s performance will suffer because the teacher doesn’t want to give 100%. For example Michael Gurian and Kathy Stevens explain in their writing,Single Sex Classrooms are Succeeding, that if teachers feel uncomfortable teaching a single sex classroom and feel that it goes against their beliefs they have the option to say no(Gurian Stevens, 2005). This means that if a teacher does not feel that single-sex classrooms is the right idea for the children then they will they have the option to say no. If the teacher can not have a say in the decision and is forced to teach single-sex classrooms that is when you will see no benefits comin g from the children’s performance because of the teachers lack of want to be there. Although for those teachers who would like to teach single-sex classrooms there are training sessions they can take. According to Michael Gurian, Kathy Stevens,Patricia Henley, and Terry Trueman,the authors of,Single Sex Classrooms are Succeeding,there are multiple trainings that teachers have already attended through the National Association for Public Single-Sex Education and the Gurian Institute, so that the teachers can be taught and be aware of the naturally different ways that boys and girls learn in the classroom.(Gurian, Stevens, Henley, Trueman 2009). This means for those teachers who would like to experience teaching in single-sex classrooms that they have a chance to be taught how so that there will be a positive atmosphere in the classroom. Overall the country is trying to find an effective way to help improve students’ scores and performances in school. Some schools are tr ying to implement single sex classrooms. However in single sex classrooms it does not just depend on the children’s willingness to participate. The teachers willingness and positive attitude in the classroom will play big role in how the students’ grades will improve. For those who are in single sex classrooms it will take away their social pressure and hormonal distractions for adolescents. It will also help girls succeed more in masculine seen classrooms because they will not feel the social pressure that those programs are just for boys. The feeling of not being judged or pressured helps students’ scores dramatically because while growing up kids are so worried about self image and not embarrassing themselves that they sometimes forget how important school really is. Author’s Note As a whole my strengths in my paper I believe were integrating many different sources and presenting a counter argument. Also I feel I had very strong sources. Some weaknesses my paper has is I had trouble breaking up the paragraphs because I had sources in them and I was explaining them in depth so it made them very long. Also another weakness is my word choice I feel that I could have used better words to describe certain situations. At this point as I turn in my paper I have revised it about 2-3 times and cut down on paragraphs and switched the format so it made more sense. Some of the paragraphs are now moved around to flow better.However, this has been a work in progress since I made my outline during spring break.My request for feeback is do you think I presented my argument very well or do you believe I jumped all over the place? Regardless of what is written above I spent 2 hours changing and paraphrasing my work so that I did not plagiarize. I feel that I paraphrased what th e authors said instead of copied it now that I went back and changed my paper. I Thank you very much for letting me revise and not failing me right away. This is my 4th revision so it should be okay now. Works Cited Page: Gurian, Michael, et al. Boys and Girls Learn Differently. Ebscohost. Ed. Michael Gurian et al. N.p., n.d. Web. 14 May 2015.http://web.a.ebscohost.com.ezproxy.uwc.edu/ehost/ebookviewer/ebook/ bm[emailprotected]sessionmgr4002 vid=0format=EBrid=1>. Gurian, M., K. Stevens, and P. Daniels. Single Sex Classrooms Are Succeeding. Ebscohost. N.p., n.d. Web. 14 May 2015. . Hancock, LynNell. A Room of Their Own. Ebscohost. N.p., n.d. Web. 14 May 2015. http://web.a.ebscohost.com.ezproxy.uwc.edu/pov/detail/[emailprotected]vid=0hid=4214b data=JnNpdGU9cG92LWxpdmU%3d#db=pwhAN=9606187719>. Pahlke, Erin, Hyde Janet, and Allison M. Carlie. The Effects of Single-Sex Compared With Coeducational Schooling on Students’ Performance and Attitudes: A Meta-Analysis. Ebscohost. N.p., 2014. Web. 19 Apr. 2015. http://web.b.ebscohost.com.ezproxy.uwc.edu/ehost/detail/[emailprotected]vid=1hid=110bdta=JkF1dGhUeXBlPWNvb2tpZSxpcCxjcGlkJmN1c3RpZD1zNTgwNTA4MyZzaXRlPWVob3N0LWxpdmUmc2 NvcGU9c2l0ZQ%3d%3d#db=pdhAN=2014-03898-001anchor=c170>. Peter, Simon. 1. Single-sex classrooms minimize distractions at two Buffalo schools: Principals separate boys and girls in grades seven and eight. ProQuest News and Magazines. N.p., 2008. Web. 19 Apr. 2015.https://ezproxy.uwc.edu/login?url=http://search.proquest.com/docview/ 455627612?accountid=42411>. Protheroe, Nancy. Single-Sex Classrooms. Ebscohost. N.p., May 2009. Web. 19 Apr. 2015. http://web.b.ebscohost.com.ezproxy.uwc.edu/ehost/pdfviewer/ pdfviewer?sid=e933715f-f864-4ca4-8e7a-3ca094fec92a%40sessionmgr110vid=1hid=110>. Sadker, David, and Karen Zittleman. Still Failing at Fairness: How Gender Bias Cheats Girls and Boys in School and What We Can Do about It. Ebscohost. N.p., n.d. Web. 14 May 2015. http://web.a.ebscohost.com.ezproxy.uwc.edu/ehost/pdfviewer/ pdfviewer?sid=9068df59-cbc5-4a39-a0ba-5cf10b5d5796%40sessionmgr4004vid=1hid=42 Smithers, Alan, and Pamela Robinson. The Paradox of Single Sex and Coeducational Schooling. Alansmithers. N.p., n.d. Web. 14 May 2015. http://www.alansmithers.com/reports/Paradox27Jul2006.pdf>. [1]_Re-opened_ [2]Easily identified, and, I think, is a good thesis. [3]_Marked as resolved_ [4]_Re-opened_ [5]Words taken directly from Words taken from https://www.naesp.org/resources/2/Principal/2009/M-J_p32.pdf [6]_Marked as resolved_ [7]_Re-opened_ [8]Words taken directly from Words taken from https://www.naesp.org/resources/2/Principal/2009/M-J_p32.pdf [9]_Marked as resolved_ [10]_Re-opened_ [11]This is taken directly from: http://www.apa.org/pubs/journals/releases/bul-a0035740.pdf [12]_Marked as resolved_ [13]_Re-opened_

Policies and legislation affecting Early Years Practitioners

Policies and legislation affecting Early Years Practitioners This module will explore the changing features of different Early Years settings, working with other professional and the skills and the core skills of those workers. It will look at the policies and legislation affecting Early Years Practitioners and the beliefs and values that ensure quality childcare. It will also include observations and problems created by working within the current guidelines. Historically homes had no appliances so a womans occupation was chores and childcare, other family members lived locally and helped. With increasing school leaving age and new appliances women could fill freed time with jobs and increased income meant more appliances. Government policy supported women working; they had careers, luxuries became necessities, families dispersed moving to the work and alternative childcare was sought. This led to more childcare requirements providing parental peace of mind rather than education and preparation for life. The quality provided was diverse and various programmes were introduced through law, policy and consultation to meet the growing needs of parents and their children. The Children Act 1989 provided legislation for under-eights, introducing quality standards for all childrens services using a registration and an annual inspection (reports to be made available to parents) system maintained by local authorities. In addition they had to carry out checks on over eighteen year olds who came into contact with children, ensure that the premises used were suitable and set staff : child ratios. Children had to be helped to get the most from planned activities. The Acts failings were that it did not allow access to at risk children, provided insufficient emergency protection, allowed inappropriate Care Orders so that a child could be taken into care unchallenged. It did allow children and their families to be heard but this was seen a problem removing Local Authorities autonomy. The Special Educational Needs Code of Practice (1994) was the first that defined the roll of the SENCO (Special Educational Needs Co-ordinator) appointed for each setting. In 1997 the Labour Government stated in their manifesto: Previously there had been no measurable standards and establishments worked alone. Investment in the National Childcare Strategy (1998) provided more affordable, quality childcare places so parents could work satisfied that their children were safe and well looked after. More training was made available and to accommodate free childcare places for three year olds childminders could become accredited. Early Learning Goals replaced Desirable Outcomes within the Foundation Stage. Sure Start Local Programmes were an initiative started in 1997 to give every child the best start to achieved their full potential, initially 250 centres were opened to support parents, in disadvantaged areas, with early education (from birth to four), childcare and health. In 2004 Sure Start Local Programmes and Neighbourhood Nurseries became Sure Start Childrens Centres and are now accessible to every district. They are now meant to be self-maintained but this has not happened and funding has been cut. They advertise themselves as: The social expectation is that parents should return to work and the care given will provide children with the best start possible implying that wrap around childcare is best but ignores possible developmental problems such as not providing secure attachment, although a key worker is provided, the hours that the centres are open means that they work shifts. More importantly they have failed in their original remit as their qualities are recognised by the middle classes. The Laming Report resulted in the green paper, Every Child Matters (ECM) (2003), highlighting poor communication and lack of information sharing between agencies particularly health and education, when protecting children. It focused on five outcomes: Childrens Act 2004 provided the legislation enforcing local authorities and central government to meet some requirements of ECM particularly regarding multi-disciplinary working. Public outcry to the anti-smacking clause resulted inclusion of a definition of smacking. The Childrens Commissioner lacked power and this continues to cause concern. One agency had to be in overall control; Local Authorities were appointed but other agencies felt marginalised. There was valid concern about data sharing as there have been several occasions when data has been made visible on the internet. After consultation ECM: The Next Step (2004) stated that aged five children should completed the foundation stage so be ready for school narrowing the gap in the 20% most disadvantaged. ECM: Change for Children covered inclusion for special needs. Although the Childcare Act 2006 states that local authorities have to provide information, advice and help for children up to 20 years, it was also given a duty to provide childcare providers information, advice and training, to ensure sufficient childcare to meet parental demand and be duty bound to improve the ECM outcomes. It merged Birth to Three, the Foundation Stage and National Standards for Under Eights Day Care and Childminding into the Early Years Foundation Stage (EYFS) with the expectation of providing high standards of early education from birth to five and recognising over fives need different care. Childcare providers in Hampshire work within their authoritys interpretation of the act. EYFS advocated supporting each child in reaching developmental goals, none being left behind, by focusing on the same five outcomes as ECM. The Statutory Framework for the Foundation Stage (May 2008) aims to EYFS does not embrace diversity particularly in culture or make allowance for special needs. Experiences should be child led so right for each child but they are still kept with peer groups maybe should be more flexible only allow so far behind then special school The anti-EYFS petition stated that as it is mandatory for all childcare and education to follow the same format removing parental choice. Children can no longer be prepared for school so the problems with transition are addressed in school. Multi-agency consultation is pivotal ECM but practitioners continued to rely upon previous assessments and each practitioner assessed the child within their particular remit, no-one looked at the child as a whole, leading to multiple assessments resulting in wasted money and frustration for all parties; this was corrected with Common Assessment Framework (CAF) (2007). The current government agree that every child should fulfil their potential but feel that the key is parental background. They acknowledge that without good quality childcare this is less likely to be met. They cite that However, when their education ends the economy needs to meet the expectations of these children A report commissioned from Leon Feinstein which illustrated that early intervention was needed citing information as much as 40 years old ignoring the impact modern practice. They intend funding early learning and childcare for 20,000 most disadvantage two year olds and extend free childcare (EYE). Most of the 5% that do not currently access EYE come from disadvantaged families; Sure Start Health Visitors remit will be to attract these families. Although the changes in law and policy since 1989 were needed it would have been better if they had been proactive or put into place after consultation with end users (practitioners, parents and children) not just experts and not fixing problems as they occur. Funding has given choices to the poorest and means all practitioners have access to training both required and of choice. Policy continues to change; Education.gov.uk EYFS is under review to extend tests 5 year olds. As result of a child abuse case part of the Serious Case Review report summary states It would be easier to use personal camera memory in a settings phone so more thought is needed before implication. Childcare workers need to have . Additionally they must enjoy being with children, care about them, encourage, listen, stimulate and extend imagination, helping them learn as individuals and watch and record their growth. Many workers bad life experience, repressed not want children to do same and cope with it not end up like me.

How to do a child labor paper: :: Essays Papers

How to do a child labor paper: Child labor may well be morally repugnant but economists go beyond this and rationally argue for policies that will help children. Traditional arguments based on perfect competition are unhelpful and even suggest child labor may be a good thing. The argument is made persuasively in Krugman’s â€Å"In Praise of Cheap Labor†. Legislating higher wages for some group will quite likely reduce overall employment and make workers as a class worse off. Banning child labor may force children away from legitimate work to work that is off the books and not necessarily legal. Given that the sex trade is highly profitable and illegal it is easy to imagine this may well make children far worse off. However, there is a tight rational argument provided by Kaushik Basu to support the moral indignation many of us feel. The key to the argument is the bond between parent and child. Parents will not necessarily do what is in their best interest because they are altruistic and put the interests of the children first. The second key to the argument is that as children are sent= to school rather than work the wages of adults increase. These two create the potential for multiple equilibria. If all children work, then adult wages will be low and adults may well need to send the children to work to survive. However, if all children go to school then adult wages are higher and it may be that now the family can survive and send the children to school. If this is possible, it is what parents will choose because we assumed they are altruistic. (You should explain and add the diagram.) After covering these basics you should do at least some of the following: Discuss how this theory does or does not support trade restrictions on countries that use child labor.

Essay --

Abraham Lincoln was born February 12, 1809 in his home in Kentucky. He was given the same name as his grandfather and he did not have a middle name. Abraham's parents were Thomas and Nancy Lincoln. He had two other siblings. They were Sarah Grigsby and Thomas Jr, but Thomas Jr. died when he was just a baby. When Abraham was 8 his mother Nancy died of milk sickness at the age 34. His father then remarried to Sarah Bush Lincoln. She had already had 3 children. John, Matilda, and Elizabeth. Abraham really liked Sarah. Abraham's father Thomas was very against slavery. Abraham was very smart man but he was only schooled for about a total of 18 months all together. He was homeschooled by his stepmother Sarah. She taught him how to read and write. He would read when he was at home so that he could get out of doing labor with his father, even though he was very good at using an axe. He even helped his dad make log cabins. Abraham had many different jobs. He was a rail-splitter, a river boatman, and a village postmaster, but none of these jobs satisfied him. At one time he even opened a general store in Salem, but it failed. He even later became a successful lawyer. In 1832 Lincoln ran for a seat in the Illinois House of Representatives, but he lost. He won the election for State Office in 1934 and was in the Illinois State Legislature from 1834-1842. Abraham served for United States House of Representatives from 1847-1849. When his term was over he moved back to Springfield to practice law. He became a lawyer and a very good one at that. He was given the nickname "Honest Abe" because everyone respected him so much. He joined the Republican side since he was against slavery. Abraham wrote the Emancipation Proclamation. The first draft w... ...n. After it Robert, Thomas, and Mary moved to Chicago and he finished his law studies at the University of Chicago. On September 24, 1868, Robert Lincoln married Mary Eunice Harlan. They had two daughters and one son. Mary "Mamie" Lincoln was born October 15, 1869. Abraham Lincoln II was born August 14, 1873. His nickname was Jack. Jessie Harlan Lincoln was born November 6, 1875. Robert was very worried about his mother. He committed her to a psychiatric hospital in Batavia, Illinois in 1875. Mary didn't like this and wrote letters to numerous people trying to show that she shouldn't have to be hospitalized, but Robert stood by what he thought and even the director of Bellevue told the jury at Mary's trial that she would benefit from treatment. With Mary trying to escape from her sons decision her and Robert never fully reconciled and stayed distant from each other.

Fin 4100 Essay

Financial Management 1. Happy Valley, Inc. stock is valued at $51. 40 a share. The company pays a constant dividend of $3. 80. What is the required return on this stock? Po = D/Rs $51. 40 = $3. 80/Rs Rs = 7. 39% 2. The Francis Company is expected to pay a dividend of D1 = $1. 25 per share at the end of the year, and that dividend is expected to grow at a constant rate of 6. 00% per year in the future. The company’s beta is 1. 15, the market risk premium is 5. 50%, and the risk-free rate is 4. 00%. What is the company’s current stock price? Po = D1/(Rs-g)Rs = 4% + (5. 5%)1. 15 = 10. 325% Po = 1. 25/(. 10325-. 06) Po = 28. 90 3. Nachman Industries just paid a dividend of $1. 32. Analysts expect the company’s dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 9. 00%. What is the stock’s current market value? D1 = 1. 716 D2 = 1. 8876 D3 = 1. 98198 P2 = 1. 98198/(. 09-. 05) = 49. 5495 Po = 1. 716/(1. 09) + (1. 8876+49. 5495)/(1. 09)^2 Po = 44. 87 4. A firm has the following sales: 008200920102011 $1,248,311$1,542,661$1,821,962$2,048,725 Use the compound average growth rate to forecast 2012 sales. g = [(2048725/1248311)^ . 3333] -1 g = 17. 956069% 2012 sales = 2048725 (1+. 17956069) 2012 sales = 2416595. 469 5. A firm is considering two projects, and it requires a 12% return on its projects. Their minimum payback period is 2. 5 years. Assuming the projects are independent (not mutually exclusive), which would you choose based on the payback method? The NPV? The IRR? Project AProject B Initial outlay $200,000Initial outlay $180,000 Cash flows Year 1$70,000Year 1$80,000 Year 2$80,000Year 2$90,000 Year 3$90,000Year 3$30,000 Year 4$90,000Year 4$40,000 Year 5$100,000Year 5$40,000 Payback for A: 2. 55 years (reject) NPV for A: $104,275. 05 (accept) IRR for A: 30. 15% (accept) Payback for B: 2. 33 years (accept) NPV for B: $32,647. 23 (accept) IRR for B: 20. 57% (accept) If the projects were mutually exclusive, then based off of Payback, only B is accepted; off of NPV, A is accepted; and off of IRR, A is accepted. 6. A firm has a capital structure containing 40% debt, 20% preferred tock, and 40% common stock equity. The firm’s debt has a yield to maturity of 8. 1%, its annual preferred stock dividend is $3. 10, and the preferred stock’s current market price is $50 per share. The firm’s common stock has a beta of 0. 9, and the risk free rate and the market return are currently 4% and 13. 5% respectively. The firm is subject to a 40% tax rate. What is the firm’s WACC? WACC = . 40 (8. 1%) (1- . 40) + . 20 (6. 2%) + . 40 (12. 55%) = 8. 204% 7. A firm has 1 million shares of outstanding common stock which currently trades at $50 per share. The firm’s stockholders require a 15% return on their investment. The firm also has $47. 1 million (par value) in 5 year, fixed rate notes with an after tax yield to maturity of 7% . The current market value of the five year notes is $49 million. The firm also has 200,000 outstanding shares of preferred stock which pay an annual dividend of $8 and currently trade at their $80 per share par value. What is the firm’s WACC? Market cap for common stock: $50M Market cap for debt: $49M Market cap for preferred stock: $16M WACC = . 15 (. 43478) + . 07 (. 42609) + . 10 (. 13913) = 10. 90%

KeepCup Analysis

KeepCup Company is an Australia private company, who are working in exporting reusable cups. KeepCup head office, which in Melbourne is recently exploring for the feasibility of introducing their product overseas to German. This business report provides a business analysis and consideration about the external environment in German. The purpose of this business report is to facilitate KeepCup in order to help the company to make decision for expanding their product exporting to German.The observation will go through on the political, economic, socio-cultural, technological and legal environment of German. Besides reporting the environment condition in German, this report provide analysis about the external environment in relation to KeepCup. In addition, this business report will highlight the strengths, weaknesses, opportunities and threats according to the external environment in German related to KeepCup. The recommendations on the suitableness of this expansion will be based on th e SWOT analysis.The report found that expanding the product distribution to German is a good decision. The opportunities regarded to German’s external environment supersede the threats. The rapid growth in modern technology, highly economic growth, the socio-culture, also the political environment in German can be a convenience way for the company to operate in German. Also the similarity between Labor and Business Law in German and Australia are considered as opportunities for KeepCup.The threat is contrasted in the some differences in socio-culture. However, it is recommended that KeepCup expand their business to German by exporting their reusable cups because of these findings regarding the strengths, weaknesses, opportunities and threats for expanding to German. This business report will provide relevant and empirical information on the political, economic, sociocultural, technological and legal environments through out SWOT analysis that impact KeepCup for expanding thei r business to German.2. Political Environment Political Environment consists of the government system, stability, government relation and certain political policies. (Bartol and Martin 1998, 71)2.1. Government StabilityGerman has been using democracy ideology from over 60 years ago. This makes a recently, democratic lifestyle and culture is embodied and implemented by every citizen in German (Make It In Germany 2013. The supreme authority in German is divided into 16 Là ¤nder and one central state. This kind of political government defined as a Democratic Federalist. Moreover, the stability of the government of German provides a suitable place for operating a business.2.2. Government RelationInternational relation is important for a big nation such as German. German has been joining six different international organization, which are European Union (EU), United Nation (UN), North Atlantic Treaty Organization (NATO), OSCE, World Trade Organization (WTO) and International Monetary Fu nd (IMF). There are two organizations, which are maintaining about trading relationship and the economic stability, WTO and IMF. With joining these two organizations, German has a good relation in politic issue particularly in the foreign or international trade. German has been joining WTO since 1995, this makes recently German opens their economic for foreign investment (Tatsachen Ueber Deutshland 2013).2.3. AnalysisAccording to the stability of the government of German, also the friendly and global political relationship, German is a good place to open a business. These two Political Environment characteristics provide an opportunity for KeepCup because German has a suitable Political Environment for opening business.3. Legal EnvironmentLegal Environment contrasts about two major laws, business law and labor law (Bartol and Martin 1998, 71).3.1. Business LawGerman has a low level of corruption. This country ranks 13th within least corruption country based on the Corruption Percept ions 2012 (Transparancy International 2012). Open international businesses in German are free from teething restriction in the daily business. Overall, the business law in German creates no different or contrast between the local company and foreign company investment or the established company. Moreover, the reliable laws make the companies able to plan their investments in the effective way (Germany Trade and Invest 2013).Apart from it, the business law in Australia has their own Guidelines and effective and consistent decision. The aim of government regarding to the Guidelines is to give a positive impact to the business conduct for companies in Australia (Australian Government 2011). Similar with German, Australia also categorized as one of the world least corruption by 2012 (Transparancy International 2012). Australian Government is concerned about corruption. Moreover, people in Australia also considered corruption as a harmful action for the environment (Bowman and Gilligan 2 009, 438-452)3.2. Labour LawThere are three main points according to similarity of the Labor Law in German and Australia. First of all, the legal working time for employee in German is eight hours per day (Liliane Jung 2011). Compared with Australia, which is eight hours per day, both countries have the same legal working hour (Work Place Info 2012). Secondly, the minimum working age in German are strictly applied by the government for employees in German. Hiring children for working, is forbidden by the law as stated in the YWPA (Young Workers Protection Act).Children under 15 years old are not allowed to work (Liliane Jung 2011). The legal age for working in Australia is also above 15 years old (Lawstuff 2010). This makes there is no different between the legal working age in German and Australia. Thirdly, the working conditions in German are considered as a safe and obligated working environment. The companies in German have a great liability for a particular large social and com munity. In order to improve the working conditions in German, health and safety are considered (Encyclopedia of The Nation 2012). Same with the working conditions in Australia, health and safety are required by the government as stated in National Employment Standards (NES) (Australian  Government 2009).3.3. AnalysisAccording to the similarity about the Business Law and Labor Law in German and Australia, both of the laws provide good opportunities for KeepCup in order to expand their business to German. KeepCup can be easily adapted to the Germany Laws and regulations because they don not need to totally adapt with the laws in German.4. Economic Environment Economic environment includes the stability of business cycle, exchange rate and economic trends which include economic trends and growth (â€Å"The Business and The Technological Environment† 2008, 58-80).4.1. Inflation RateIn July 2013, the inflation rate of Germany is at 1.92 percent. Since 1950, the inflation rate of Germany has been fluctuating with average rate at 2.49 percent until 2013. With this percentage of inflation rate, German can be considered as a good place for investment. The current inflation rate shows that the economic condition in German is in a good condition (Trading Economics 2013).4.2. Economic Trends and GrowthGerman is one of the heavily export countries in world (Trading Economics 2013). Since 10 years ago, the GDP of German has been fluctuating. From 2004 till 2008, the GDP of Germany was in positive number. Then in 2008 until 2010, there was an extreme decrease in the GDP of German which reached a peak at approximately -4.0. However, since 2010, the GDP of German has been going fluctuate at the positive number. Apart from it, recently the government of German is trying to maintain stability of GDP of Germany in the positive number. So, it can be a good condition for foreign investment in German, because they can make more profits if the economic condition in German gr owth (Randow 2013).4.3. AnalysisIn conclusion, both the inflation rate of German and also the economic trends and growth in German can be a good opportunities for foreign company to invest in German, particularly for KeepCup to expand their business to German.5. Socio-cultural EnvironmentSocio-cultural environment shows how the values of society influenced the working conditions (The Hofstede Centre 2013).5.1. The Cultural Dimension of Hofstede (The Hofstede Centre 2013)5.1.1. Power DistanceAustralia and German have a similar index of Power Distance. Both countries are considered as Low Power Distance countries. This culture creates a good leadership style between the managers and employees. Participative and democratic leadership are suitable for these two countries. Decentralized decisions making creates a good collaboration between team members and the leader.5.1.2. Individualism vs CollectivismAlthough the Individualism Index of Australia and German is slightly different, but bo th countries are considered as individualism country. Australia is more individualistic than German, it is considered as highly individualism country. Here people are more focused on their self-skills and individual performances. Moreover, Germany people are slightly more prefer to work as a team rather than working as an individual because the individualism in German is not as high as in Australia.5.1.3. Masculinity and Femininity Both Germany and Australian are considered as masculine. From the business point of view, people in both countries are more focus on performance in working and always try to do the best. Furthermore, with the masculine culture both people from these two countries are considered as hard worker.5.1.4. Uncertainty AvoidanceAustralia and German have different level of uncertainty avoidance. Germany can be considered as High Uncertainty Avoidance, whereas Australian is medium uncertainty avoidance. With the certain laws and legal policies in German, shows that Germany want to creates certainty by providing details and avoid risks. In contrast, Australian likes to try new things. People sometimes like to take a risk for creating a strategy.5.1.5. Term of OrientationGerman and Australia have the same term of orientation which is Short Term Orientation. In business point of view, both countries are using fast strategy and have a measureable payback. They also make a decision based on the recent condition. Logical thinking is using more than reach the consensus.5.2. AnalysisThere are three similarities and two differences between Germany and Australian socio-cultural based on Hofstede Cultural Dimensions. Germany and Australian have the similarities in Power Distance, Masculinity and Term of Orientation. In contrast, German and Australian have the differences in individualism and uncertainty avoidance. However, these socio-cultural dimensions can be opportunities for Keepcup to invest in German, because the similarities are outweigh the diff erences.6. Technological EnvironmentThe technological environment reflects the current technological infrastructure and communication technology (Mosley, Pietri, and Megginson 1996, 82)6.1. Technological Infrastructure German is going fast in improving their infrastructure since last decade. Based on Germany Trade and Invest, now German is the second best quality of infrastructure in the world, because German has some good logistic infrastructures. First of all, is the Port of Hamburg which the second largest port container in the world. Secondly, are the over 250 inland ports which are providing an efficient logistic distribution. Lastly, is the Frankfurt Airport which is the world seventh largest cargo airport and ninth largest passenger airport (Germany Trade and Invest 2011). These three logistic infrastructures creates a good opportunities and simplicities for foreign company to distribute their products to German.6.2. Communication NetworkCompared with Australia, German also h as an ultra high speed internet with fiber optic network and also wide range of mobile coverage. These modern communication network make the economic transactions and communications to national segment or even international segment easier and more efficient. (SAG Germany 2013).6.3. AnalysisThe sophisticated technology infrastructure and communication network in German provide an opportunities for KeepCup to do investment in German. The simplicity of the logistic distribution makes KeepCup easily to distribute their product among German. Moreover, the wide coverage area for communication network in German provides and easy way to communicate between customer to the company or company to company.ConclusionsBased on the SWOT analysis above, is highly recommended for KeepCup to expand their business to Germany. The strengths of KeepCup are greater than their weakness. This condition makes KeepCup can be easily to invest in German in this period of time. Moreover, it also supported by th e opportunities that extremely overcome the threat that KeepCup will encounter. Is highly recommended for KeepCup to start their investment to German first of all with looking for certain local cafà © to cooperate with them regarding to sell their reusable cups.9. Recommendations According to the weaknesses and the threat analysis, KeepCup will not be impacted with their weaknesses and threat in German. This happened because the strengths are overcome the weaknesses of KeepCup and the opportunities for KeepCup are outweigh the threat that the company will contend. These conditions provide three recommendations for KeepCup according to their plan to expand their business to German:1. KeepCup should expand their business in this period of time.2. KeepCup have to eliminate the weakness overcoming them with their strengths.3. KeepCup need to avoid the threats by outweighing them with their opportunities.