Tuesday, January 28, 2020
Subjective exam Essay Example for Free
Subjective exam Essay A) Selling price of bond The determination of the selling price of bonds is important because it helps the bondholders know the yield they will receive if they were to purchase the bond. Bonds can be issued at par, premium and at a discount. A Bond is said to be issued at par if the yield is equal to the coupon rate. If the current market yield is more than the coupon rate stated on the bond, then, that bond has been issued at premium. If the coupon rate is more than the yield rate currently earned by similar bonds in the market (Sheth, 2007, Slide 23, chapter 12). Bondholders receive periodic payments of interest amount, which is constant over the life of bond. Therefore the price of the bond is arrived at by discounting all these payments i.e. the selling price is the present value of all periodic payments plus the present value of the maturity amount, which is the principle amount of the bond. (Englard, 1992, Page 6, chapter 1). The formula for calculating the price of the bond is as shown below. Bond price= (PV) =p (1+r)-2 + p (1+r)-2 +†¦. +p (1+r)-n + m (1+R)-n Where =p= period receipt/payment r=required yield –effective M=maturity value (principle amount) The periodic receipts of interest amount are constant over the bond period and therefore are annuity in nature. Therefore to calculate the present value of the interest payments the annuity formula is used. Present value interest payments=                    Constant interest receipts* (1-(1 +r) –n The maturity amount (principle) is received as a single amount at the end of the bond period, thus is a single amount discounted using the single amount formula. Present value maturity value =m (1+r)-1 Therefore, the total selling price is the sum of present value of interest and principal amount. 2) Presentation of bonds in balance sheet When a bond is issued, the following factors are considered in accounting for the bonds. Recording the issue or purchase of the bond Recording the interest received during the life of the bond. -Accounting for the retirement (through calling, refinancing or conversion) of the bond. (Sheth, 2007, Slide 16, Chapter 12) Issuer’s books As seen earlier bonds can be issued at par, discount or premium. Bond issued at par- the bonds were issued between interest dates. Long-term liabilities. Bond payable                                     xxx Current liability Interest payable (1 month)                  xxx Current assets Cash (amount of bond)                      xxx Bond issued at a discount Long-term liabilities Bonds payable                                   xxx Discount on bonds payable                 xxx Current assets Cash (less discount on bond)              xxx Bonds issued at a premium Long-term liabilities Bonds payable (plus premium) xxx Current assets Cash (including premium)                    xxx Investors books The buyers’ balance sheet will be as follows At par Assets Investments in bond                            xxx Current-asset Interest accrued (1 month)                  xxx Cash (amount of bond)                       xxx At discount Assets Investment in bond (less discount)       xxx Current assets Cash                                                  xxx At premium Assets Bond investment (plus premium)         xxx Current assets Cash               (plus premium) xxx B) Income statement items The items that will be included in the income statement of Norris co. for the year 2008 include -Interest expenses -Adjustment to interest expenses (amortization) Interest expenses The amount of interest is determined using the par value and the coupon rate and not effective rate. (Englard, 1992, page 2-3) Illustration At par Using the example of Norris co. bond assuming that it was issued at par, then the interest will be 1000*xx%= interest. At discount Payment- interest = xx%*1000 Interest amount = yy% *(1000-discount) The difference between the interest payment and interest amount is amortization of discount. At premium Interest payment =xx% * 1000 Interest amount= yy% * (1000 +premium) The difference between the interest payment and the interest amount is the amortization of premium.
Monday, January 20, 2020
AN OVERVIEW OF CHILD LABOR AND POSSIBLE SOLUTIONS :: Essays Papers
AN OVERVIEW OF CHILD LABOR AND POSSIBLE SOLUTIONS â€Å"A little girl about seven years old, who’s job as scavenger, was to collect incessantly from the factory floor, the flying fragments of cotton that might impede the work... while the hissing machinery passed over her, and when this is skillfully done, and the head, body, and the outstretched limbs carefully glued to the floor, the steady moving, but threatening mass, may pass and repass over the dizzy head and trembling body without touching it.†To many of us this paragraph belongs to the past. It is true, this was published in 1864 in England, but for even more people it would come as a surprise that the practice of child labor exists as we speak. According to Krugman several thousand men, women and children live on Smokey Mountain dump in Manila, enduring the stench, the flies and the toxic waste in order to make a living combing the garbage for scrap metal and other recyclables. And the Smokey Mountain is very much present time story. Child labor is a persist ent problem throughout the world, especially in developing countries. According to the latest statistics , Africa and Asia together account for over 90 percent of total child employment. Child labor is especially prevalent in rural areas where the capacity to enforce minimum age requirements for schooling and work is lacking. What exactly is child labor? The International Labor Organization’s convention #138 specified 15 years as the age above which a person may participate in economic activity. Also, another source (Ashagrie, ’93) suggest that a child is a laborer if it is economically active, while governments and international organization usually consider a person economically active if the person works on a regular basis. Clearly there are few different angles to look into this. At this point we can look at the child labor as the reserve army of labor but at the same time we need to take into consideration poverty and economic weakness that are pushing children into work. The line of morality in regards to this issue is very thin; are those children better off not working and instead starve being dump scavengers or are they better off working for less than a minimum wage? In addition, the economies of third world nations often benefit from the introduction of low-wage manufacturing jobs. Their argument is that these â€Å"sweatshop†jobs can offer their country’s poor a release from malnourishment and poverty.
Sunday, January 12, 2020
Restructuring the organizational structure at Kimberly-Clark Essay
In 2003,Kimberly-Clark the maker of paper products including Kleenex, Haggis , and Depends, announced it was creating a radical new structure to shore up parts of its business that were performing poorly by restructuring its product into three categories .The categories were†grow,†â€Å"sustain,†and â€Å"fix†-somewhat unconventional categories. They weren’t devised based on product type, customers, or the geographic location is which Kimberly-Clark sold goods, but instead on the perceived strength of the products themselves. Background Kimberly, Clark and company was established in 1872 by four young businessmen, John A. Kimberly, Havilah, Babcock, Charles B. Clark, and Frank C. Shattuck. Based in Neenah, Wisconsin, The Company initially manufactured paper, but over the years it began to branch out, broadening into the personal hygiene consumer products area to compete with companies like Procter & Gamble. In 1978,Kimberly-Clark introduced what would become its top seller; Huggies disposable diapers. Huggies were an instant hit and soon became the nation’s number one diaper brand.Over the course of the next two decades,Kimberly-Clark introduced Depends for adults and training pants for toddlers,and acquired its competitor Scott Paper,a leading maker of toilet paper and paper towels.Today,the merged company sells its products in over 150 countries around the world.In 80 of those countries,it holds the number-one or number-two spot in the marketplace.It has physical operations in 38 countries and employs more than 55.000 employees. Restructuring Problems Like many corporate mergers, the merger between Kimberly-Clark and Scott Paper in 1995 didn’t roll out smoothly .Most of Scott’s senior management team left after the merger,and Kimberly-Clark experienced problems integrating the two companies.The following year,operating income and sales dropped. By the late 1990s,the company’s senior managers had finally worked through the integration challenges of the merger.But the dawn of the twenty-first century brought new challenges.Chief among these was the lack of growth in developed countries for Kimberly-Clark products due to market saturation. To continue to grow,the company had to look to new markets.The company was also losing market share to its fiercest rival,P&G.By introducing a high-end line of pampers in 2002,P&G had been able to capture market share from Huggies. Given the tough competition in the disposable diapers industry,Kimberly-Clark tried to diversity by producing a related product: disposable baby wipes.But these growth plans were upset when Johnson & Johnson,the prominent maker of baby shampoo,launched its own line of baby wipes. It was within the context of these competitive dynamics that Kimberly-Clark’s senior manager announced their radical reorganization plan in 2003.The â€Å"grow†category (brands and sectors growing the fastest) included products such as training pants,household towels and wipes,and Kleenex.The â€Å"Sustain†category(brand generating solid returns) included U.S, infant care products and other facial tissue lines. Whereas the â€Å"fix†category included products related to European personal care along with the U.S. Professional washroom business.Sales of these products were relatively flat.And although they accounted for about 20 percent of the firms’s total sales,they contibruted only 10 percent of the profits. Kimberly-Clark’s senir managers argued that reorganization would help increase the company’s speed to market,streamline its decision making regarding allocating capital and deliver cost reduction on a sustainable basis.However, simultaneous to the reorganization announcement,Kimberly-Clark announced it had revised its forecast for sales increase down from 6 percent to 8 percent annually to 3 percent to 5 percent.Predictably,shareholders reacted negatively,and Kimberly-Clark’s stock price closed down immediately after the announcements. Thus,executives began to reconsider the planned changes. Kimberly-Clark eventually presented a new and different organizational structure in early 2004.Rather than organize products by the â€Å"grow, sustain , and fix†categories, management announced that it would organize around by personal care, washroom products, and emerging markets.Specifically, management planned to combine the company’s North American and European personal care groups under one organizational unit. The same would happen for products related to the washroom business. In addition, management planned to create an â€Å"emerging markets†business unit to maximize the growth of all Kimberly-Clark’s products in Asia, Latin America, and Eastern Europe. As an example of this growth, in 2010 the company announced its first plant in Russia to manufacture Huggies diapers. By 2010, Kimberly-Clarks changes reshaped the company into a consumer product health and hygiene firm. Analysts have r eacted well to these changes. In addition, the company announced that its efforts to reduce cost are likely to exceed its initial estimates. The management projected that cost savings could be as high as $450 milliion by the end of 2010. And, management also announced a new plan to reduce up to $500 million more by 2013. Finally, the company is searching for good acquisitions in the health care industry. Questions.. 1. Why would Kimberly-Clark executives restructure the company based on â€Å"grown, sustain, and fix†categories? What disadvantages might result from such a structure? 2. Was the organizational structure presented by Kimberly-Clark executives in 2004 better than the first structure proposed? Why or Why not? 3. Are the company’s changes to reshape its identity as a consumer product health care and hygiene company and its cost reduction efforts likely to improve its competitive position relative to P&G? please explain your answer.
Saturday, January 4, 2020
unit 10 P5 M3 - 1714 Words
P5 Explain the strategies and methods that can be used to support children/ young people and their families where abuse is suspected or confirmed. M3 Assess strategies and methods used to minimize the harm to children, young people and their families where abuse is confirmed. Case study: Paul is 10 years old. His teachers that he might be suffering from abuse at home have reported it to the Local authority. He will be starting secondary school in a month’s time. The local authority is due to put him in care temporarily whilst investigations take place. Counteracting possible stereotyping Stereotyping and naming can be extremely terrible towards any individual. This is on account of other individuals may judge rapidly or accept something†¦show more content†¦Unconditional acceptance for the child/ young person This is the point at which the kid is acknowledged paying little mind to who and how they are. For instance if a kid has been sexually assaulted, they must be acknowledged and not seen distinctive. In terms of a youngster or a youngster uncovering data on their misuse it is totally troublesome for them. This is on the grounds that they may expect that no one would trust them or that they may even get judged. This is the reason it is vital for the individual that the kid may be opening up to, to accept whatever the youngster may be stating concerning them getting ill used. For Pauls situation, he didnt uncover any data. His educator suspected that he might be getting ill used because of suspicions that the instructor may have seen. However in the event that Paul was to uncover any data of him being misused at home, the individual listening must accept and console him with the goal him should feel protected, cherished and secure. This would minimize the impacts of misuse, as they would not feel as unstable. Flexibility of this methodology could be that the kid would feel secure, adored and feel like they fit in anyplace as opposed to feeling distinctive due to the misuse that they may have encountered. They would likewise get an opportunity to open up about theShow MoreRelatedUnit 10- P5 and M34190 Words  | 17 PagesThere are a number of strategies that are able to be considered to support not only children and young people but the parents and families where abuse is suspected or confirmed. These strategies refer to a plan of action in order to achieve a particular goal, an example of this could be that they are able to minimise the actual or potential impact of abuse or poverty that may occur within families. 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