The Jungle By Upton Sinclair Essay Example

The Jungle By Upton Sinclair Essay Example The Jungle By Upton Sinclair Essay The Jungle By Upton Sinclair Essay Paper Topic: The Jungle The Jungle By Upton Sinclair The Jungle By Upton Sinclair The Jungle depicts the lower positions of the mechanical world as the area of a bare battle for endurance. Where laborers not exclusively are compelled to contend with one another however, in the event that they flounder, are unable to keep starvation from their entryway and a rooftop over their heads. With associations frail and modest work abundant, a social Darwinist condition of natural selection exists. The genuine story rotates around the joining and inevitable breaking down of Jurgis Rudkis and his family, Lithuanian workers who move to the Chicago stockyards with expectations of a superior life. Sadly, their expectations rapidly deteriorate; like a large number of other incompetent settlers when the new century rolled over, money related need drives them into virtual slave work so as to endure. For Jurgis and his family, the slave driver is the savage and ravenous meat pressing industry, whose pioneers esteem their laborers close to the creatures they butcher. The Jungle shows the connection between the creatures that were being butchered and the laborers who were butchering them, from right off the bat in the novel. It analyzes the laborers to the creatures who are written up and killed each day in jurgis, wilderness, family, each, pg, creatures, work, own, out, laborers, appears, life, trusts, even, came, 35, upon, stockyards, nothing, pigs, dreams, being, after, while, very, really, town, endure, something, political, entry, pressing, over, men, which means, man

Microsoft programmes Essay Example for Free

Microsoft programs Essay During year ten I had fourteen days of work understanding from the twelfth to 23rd of March 2007. Work experience wasnt only obligatory for understudies inside my school, however an across the nation curricular movement. My head of year Miss Joseph sorted out the work involvement in an organization called Trident, who composed the situations and checked the position for wellbeing and security. For those not sorting out their own work understanding, you had go after positions through tridents site. You needed to choose six distinction occupations, and request them in inclination and afterward Trident would attempt to arrange the situation you put first. Anyway Trident couldn't prevail with regards to getting everybody their first decision in arrangement, the same number of different schools inside Waltham timberland were accomplishing work understanding during a similar period. I anyway organized my own position, at my moms grade school. My mom, a few individuals from staff and I and to round out a few structures which were then sent to Trident, who might check the position to check whether it was ok for me to work there. I decided to work in a school as I appreciate working with others and helping kids to learn. I have regularly viewed as turning into an instructor, so I felt that working in a school would assist me with choosing whether that was the profession way I ought to be going down. A long time before my work experience was because of start, I had a meeting with the head instructor of the school. I needed to ring up the school and sort out this meeting. The head instructor asked me several inquiries concerning for what good reason I had decided to work there, and what aptitudes I was wanting to pick up from the experience. She at that point indicated me around the premises, and acquainted me with the individuals from staff that I would be working with. During my work understanding, my working hours were from 8.00 till 5. 00. I took the vehicle to work and the excursion would as a rule take half and hour. I would work until 3. 15, when the youngsters returned home, anyway I didn't leave until 5. 00 as I needed to help clear up and help with after school exercises. On my first day I was educated regarding the errands I would do that day and acquainted with all the kids. Most mornings I would clean the childrens cup and afterward fill them with water. I would then need to set up the primary action, which was continually spelling. Different employments I needed to do included; copying, combined perusing, taking gatherings of youngsters for bunch learning and cleaning. I worked with one instructor and one showing right hand, the two of which would help me with assignments I discovered troublesome and were both extremely accommodating. I believed I had a beneficial outcome on my associates as I would frequently have the option to complete assignments without a lot of help and consequently my less work for other people. Anyway in certain exercises I must be helped because of wellbeing and security reasons, which could have made more work for the staff, than if I was not there. I offered to assist after school and would consistently attempt any undertaking the educator set me, regardless of whether I didnt comprehend what to do. I in this way feel I made a positive commitment and decreased the remaining burden for my partners. During my work experience I needed to complete a wide range of undertakings, a considerable lot of which I had never done. I had the option to adapt to the vast majority of these new exercises, anyway I encountered a few issues during my first week. For instance while I was doing matched perusing with an individual kid, another youngster, with conduct troubles, continued upsetting me and attempting to stand out enough to be noticed. I was uncertain on what system I should use to keep the youngsters from keeping me from doing the combined perusing so I proceeded to address the class instructor. She at that point disclosed to me that the best activity, is disregard the troublesome kid, and they would before long come back to their work. I utilized this procedure a few times during my work understanding and I at that point had the option to proceed with the work, undisturbed. Another difficult I experienced was the point at which one kid disclosed to me that another youngster had hit them, when in the play area. I at that point proceeded to address the other kid, anyway they said that it was really the other kid who had hit them. The two youngsters denied hitting each other, so I inquired as to whether they were harmed in any capacity, however the two of them said no. I at that point addressed the two youngsters, disclosing to them that hitting wasn't right, and in the event that there were further issues, at that point I would need to take them to their group instructor. I at that point got the two youngsters to make up and play a game together pleasantly. Thereafter I addressed the class instructor about the episode and she said the way that I took care of the circumstance was great, however next time I should take them both to her as certain youngsters do have conduct issues. I felt that I gained from the two episodes and am presently ready to adapt to a lot progressively hazardous circumstances that before my work understanding. I frequently helped the instructor to complete exercises outside the study hall, which without my assistance, would have been much harder. I felt that my commitment in a considerable lot of the exercises made it simpler for my partners and in this manner influenced the result of the movement, as they all went quite well. Over the hour of my work experience I learned numerous new abilities that I might not have learned, on the off chance that I hadnt accomplished the work understanding. I truly making the most of my fourteen days of work understanding. It was an extremely hard, however compensating work. A few errands I found somewhat exhausting, anyway by and large the experience was fun and I adapted loads of new aptitudes. For instance I am presently ready to utilize a significant number of the new Microsoft programs for current PCs, which are utilized in numerous workplaces and other PC based occupations over the UK. I am likewise ready to show little gatherings of kids, keeping the consideration of each kid and empowering them to learn. As I making the most of my work experience so much I have concluded that I might want to turn into an instructor when I am more established, subsequently all the aptitudes that I have picked up during my work experience will be utilized again later on and could have a huge effect in transit I work and so on.

Mihaly Csikszentmihalyi Biography

Mihaly Csikszentmihalyi Biography History and Biographies Print Mihaly Csikszentmihalyi Biography Early Life, Career, and Contributions to Psychology By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on May 09, 2018 Ehirsh / Wikimedia Commons / Public Domain More in Psychology History and Biographies Psychotherapy Basics Student Resources Theories Phobias Emotions Sleep and Dreaming Even without success, creative persons find joy in a job well done. Learning for its own sake is rewarding. â€" Mihaly Csikszentmihalyi from Creativity: Flow and the Psychology of Discovery Invention, 1996. What Csikszentmihalyi Is Best Known For Mihaly Csikszentmihalyi is a psychologist who created the concept of flow. He is particularly known for flow psychology and positive psychology. Csikszentmihalyis Early Life Mihaly Csikszentmihalyi (pronounced me-HIGH chick-sent-me-HIGH-ee) was born in Fiume, Italy, now Rijeka, Croatia, on September 29, 1934. Growing up, he was fluent in Hungarian, Italian and German. During World War II, he spent time in an Italian prison camp where he discovered chess. He found playing chess to be an excellent way to divert his attention away from what was happening around him, something he believes helped him fare better than many others. At age 16, he traveled to Switzerland where he had the opportunity to listen to Carl Jung speak. The experience had an influence on him. He later explained, As a child in the war Id seen something drastically wrong with how adultsâ€"the grown-ups I trustedâ€"organized their thinking. I was trying to find a better system to order my life. Jung seemed to be trying to cope with some of the more positive aspects of human experience. After studying books by Jung and Freud, Csikszentmihalyi decided to immigrate to America at the age of 22 in order to study psychology. He attended the University of Chicago where he earned his B.A. in 1960 and his Ph.D. in 1965. In 1969, he returned to the University of Chicago as a professor where he continued to work until 2000. Csikszentmihalyis Career Csikszentmihalyi is best-known for his theory of flow, which he outlined in his seminal 1990 book Flow: The Psychology of Optimal Experience. According to Csikszentmihalyi, people are happy when they are in a state of flow, a type of intrinsic motivation that involves being fully focused on the situation or task. He describes flow as being completely involved in an activity for its own sake. The ego falls away. Time flies. Every action, movement, and thought follows inevitably from the previous one, like playing jazz. Your whole being is involved, and youre using your skills to the utmost. Contributions to Psychology Mihaly Csikszentmihalyis theory of flow has influenced people in a wide range of fields. Former U.S. President Bill Clinton and former British Prime Minister Tony Blair were reportedly influenced by his book Flow: The Psychology of Optimal Experience. Jimmy Johnson, former coach of the Dallas Cowboys, utilized Csikszentmihalyis ideas to prepare for the 1993 Super Bowl. Csikszentmihalyis ideas have also influenced people in business, government, education and the arts. Selected Publications by Mihaly Csikszentmihalyi Csikszentmihalyi is a prolific writer, having published more than 120 articles and book chapters on a wide variety of topics in psychology. His research and writings on happiness and creativity have also played an important part of the growing interest positive psychology. Here are a select few: Csikszentmihalyi, M. (1975). Beyond Boredom and Anxiety: Experiencing Flow in Work and Play, San Francisco: Jossey-Bass.Csikszentmihalyi, M. and Csikszentmihalyi, I. S., eds. (1988). Optimal Experience: Psychological studies of flow in consciousness, Cambridge: Cambridge University Press.Csikszentmihalyi, M. (1990). Flow: The Psychology of Optimal Experience. New York: Harper and Row.Csikszentmihalyi, M. (1996). Creativity: Flow and the Psychology of Discovery and Invention. New York: Harper Perennial.Csikszentmihalyi, M. (1998). Finding Flow: The Psychology of Engagement With Everyday Life. Basic Books.Gardner, H., Csikszentmihalyi, M., and Damon, W. (2002). Good Business: Leadership, Flow, and the Making of Meaning. Basic Books.

Taking a Look at Overpopulation - 877 Words

The world has a population of 7 billion people and is still rising at 2.5 people per second (). Africa has 1,033 billion people as of 2011 () and also is on the rise. Recently the growth in population has become more and more serious as the world is biophysically limited, though it is said that it can provide for us all equally, the distribution of goods in very uneven. Even with this inequality people continue to procreate as they see it as a God given right and so many families in Africa contain from about 5 to 10 children in some cases. Traditional ways are also seen as a cause of population growth, with men having as many as 10 wives. Our biggest cause of overpopulation many have argued to be the lack of education, education on birth control, family planning and the impacts on the environment caused by growth in population. This issue of overpopulation in Africa has a huge impact on the country and its government to feed all these mouths, and often they rely on foreign help from the northern better off continents, driving African countries into debts they will never be able to pay off. The helping each other of countries, for example Ethiopia receiving help in the form of money, food and even weapons from America, can be seen as the centre of Garret Hardins life boat. As this aiding in almost all transactions is seen as a loss and dent in the stability of the more affluent nation. In Hardins life boat ethics each rich nation is like a life boat in an ocean in which theShow MoreRelatedOverpopulation : The Problem Of Overpopulation1251 Words   |  6 PagesOverpopulation: The Top Worry Yet to be Proven by the Worried The definition of hysteria is an exaggerated or uncontrollable emotion, usually found within groups of people. 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Ellis believes that huma ns can relyRead MoreThe Issue of Over Population in the Earth Essay942 Words   |  4 PagesOverpopulation is a hot topic that is becoming a well-known problem that our world faces. At times you can see how our planet may not be big enough for all of us. Family vacations seem less fun due to too long lines. Traffic can seem like it’s at a stand-still in the cities and all the while we think that there are so many other problems to focus our attention on. It would be easy to focus on global warming, or we could admit to ourselves that if the world did not have so many people pollution wouldRead MoreAnalyzing The Issues Of World Overpopulation1413 Words   |  6 PagesAnalyzing the issues of world overpopulation The current population on Earth is around 7 billion people, statistics show that by 2050 the world will reach to about 8 – 11 billion people. 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Central Idea: In order to control the overwhelming population of homeless pets, we need to stop throwing our â€Å"family friends† away. There are 1.5 dogs and cats put to sleep every second 4-6 million dogs and cats are euthanized every year, states the Humane Society. The pet overpopulation epidemic has becomeRead MoreThe Biggest Crisis We Face Today : Human Overpopulation1218 Words   |  5 PagesThe Biggest Crisis We Face Today: Human Overpopulation There are many causes for overpopulation than just increasing numbers of people. Modern technology, improved medicine, more opportunities to get out of poverty, low fatality rates, immigration, and the lack of family planning (Rinkesh); all lead to overpopulation. Earth is home to 7.2 billion people. A research of 2015 (infoplease) shows that most of the world s population lies with the two largest countries in Asia: China and India. As ofRead MoreOverpopulation Is Not The Issue1382 Words   |  6 PagesOverpopulation is blamed for many of todays problems around the world including poverty, hunger, and war. In reality, overpopulation is not the issue. In fact, the term â€Å"overpopulation† shouldn’t even be used because it makes one infer that there is too many people on this planet. That, however, is not true. There are plenty of resources to go around and the population may actually be declining instead of growing. Overpopulation will not be an issue for the future of planet Earth because the povertyRead More Overpopulation of the Earth Essay1698 Words   |  7 PagesOverpopulation of the Earth The little animatronic children at Disney World were right, it is â€Å"a small world after all†; maybe even too small. At the beginning of the present century there were approximately 1.7 billion people in the world(Southwick pg.159). Today, there are nearly 6 billion people in the world. The world’s population has more than tripled in the span of a hundred years. Given that the earth’s population is constantly on the rise and seeing as how our natural resources are

Short Answer Assignment.. Name ______________Date...

Short Answer Assignment Name: ______________ Date: ____________ Answer the following four questions using 200 to 250 words for each response. Each box fits 250 words using Times New Roman, with 12 point font. If you get to the end of the box, you cannot add additional words. Each question is worth one point and there is additional scoring for proper grammar and citations for a total of five points. You must use course material to support your work, with full APA citations, to earn the most points. You will score few to no points for not using course material. Be sure to add your references to the references box. 1. Describe one of the following functions of language from Bevan and Sole (2014, Section†¦show more content†¦There are Whites, Blacks, Asians, Indians and Latinos yet they are able to co-exist due to the use of the English language. This has helped to enhance the culture of America which is based on the notion of the ‘melting pot’. Different cultures bring to the table aspects that define and integrate them to the American way of life. Despite each having a different language, the English language has been core to their socialization which continues to impact, their social, economic and political constructs. 2. Describe one of the following functions of nonverbal communication from Bevan and Sole (Section 4.2). o Managing your impressions and identities o Managing and interpreting your relationships o Regulating the flow of interactions o Engaging in and detecting messages of emotion, influence, and deception Then, share an example that illustrates how this function is demonstrated in a hypothetical communication exchange. (Remember, this should be no more than 250 words) Managing and interpreting your relationships, according to Bevan and Sole (2014), is one of the functions of nonverbal communication skills. Nonverbal communication contributes almost 80 % of human interactions and can easily make or break relationships if not well understood. Therefore for an individual who wants to be able to manage and interpret their relationships, has to have

Financial Statement Analysis of Pharmaceuticals in Pakistan Free Essays

string(117) " project is always needed to have impartial analysis that encourages financier to invest in more profitable venture\." Final Project Profitability Ratios’ Analysis of Pharmaceuticals in same industry for FY 2008-10 Sanofi-Aventis Ferozsons Abbott A REPORT SUBMITTED TO THE DEPARTMENT OF MANAGEMENT SCIENCES, VIRTUAL UNIVERSITY OF PAKISTAN IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTERS IN BUSINESS ADMINISTRATION Submitted By Mc080402262 Sheikh Khurum Akram Department of Management Sciences, Virtual University of Pakistan Acknowledgement In the name of ALLAH, the most Gracious, the most Merciful Firstly I am thankful to ALLAH ALMIGHTY, WHO is sprinkling HIS blessings upon me and my family. HE has bestowed me with sound health and determination to perform this task. I really acknowledge guidelines from my course tutor who taught me the techniques of research. We will write a custom essay sample on Financial Statement Analysis of Pharmaceuticals in Pakistan or any similar topic only for you Order Now This project is my own effort. Executive Summary I will evaluate three leading pharmaceuticals of Pakistan for profitability ratio analysis of Abbott, Ferozsons and Sanofi-Aventis. I will assess them on the basis of facts and figures provided in their financial statements. My objective is to figure out their flaws and potencies. Outcomes of profitability analysis are worthy for management in making effective decisions. My findings will make easy for all related parties to have impartial analysis. This project will also make available a snapshot of pharmaceuticals’ capability in managing their resource for yielding profits. The main purpose behind this analysis is to conduct a quantitative study of raw data. Outcomes of my project will assist the title-holders and decision-makers to keep an eye on improvement in their businesses. I will perform profitability ratio analysis of Abbott, Ferozsons and Sanofi-Aventis. I will cite my sources each time if exact quote is copied of an author or paraphrasing of the same is drafted in my own words. I will provide reference if I copy a table, chart, diagram, or graph wholly or partly. Microsoft word and excel will be used to evaluate ratio analysis. APA style of referencing will be used. Ferozsons and Abbott have yielded sufficient net profits to recover all operating, non-operating expenses and taxation charges and to build up reserves after paying all fixed interest charges and dividends. Sanofi-Aventis has yielded very low net profit despite reasonable sales volume due to escalating cost of goods sold, operating and non-operating charges. Abbott laboratory and Ferozsons are efficiently managing its assets to generate profit. Sanofi-Aventis is not utilizing its assets properly to generate profit. Abbott laboratory and Ferozsons have higher generating rate of their wealth. Sanofi-Aventis has lower generating rate of its wealth. Ferozsons has better pricing approach and operating competence. On the contrary Sanofi-Aventis has flaws in pricing tactic. Abbott has shown adequate operating profits to meet its fixed cost. Sanofi-Aventis has shown its efficiency at its best in managing significant assets like Property, Plant Equipment, Stock in Trade and Cash with bank balances. Ferozsons has utilized its revenue producing assets exceptionally well. Abbott has produced bulk sales volume with a relatively small amount of fixed assets. Sanofi-Aventis has shown effective job by producing better sales volume turnover with minute amount of property, plant and equipment. Sanofi-Aventis has produced insufficient returns to satisfy its investors. Ferozsons has generated sufficient gross profit volumes to face unfavorable financial circumstances such as low demanding and price competition. Ferozsons and Abbott need to keep scheming in the same way for curtailing cost of goods sold, operating and on-operating expenses. They need to retain effective management policies by utilizing more assets for the generation of higher profits in future. They need to keep strengthening better pricing approach and operating competence. They need to utilize operating assets more effectively to improve their turnover as per sales volume. Ferozsons needs to downsize overinvested in fixe d assets. Abbott and Sanofi-Aventis should improve their turnover of fixed assets in terms of sales volume. They can increase gross profits by implementing more effective management policies. Sanofi-Aventis really needs to look its profit yielding capacity. It should review and improve its products range. Furthermore effective management policies can produce the desirable results. It requires implementing improved pricing tactic to attain better operating proficiency. It needs to watch over its policies for better return on owner’s equity to retain its investor confidence. It has shown better operating assets turnover, it should keep utilizing them in the same manner. It needs to improve its selling and marketing strategies to improve profit margins. Table of contents Acknowledgement Executive Summary Section IPage # 1. Chapter 1) Introduction8 Financial Period Under-Consideration for Analysis:10 Objectives10 Significance11 2. Chapter 2) Data Processing and Analysis 11 * Data Collection Sources:12 * Data Processing and Analysis Tools: 12 3. Chapter 3) Data Analysis12 Profitability Ratio Analysis Project12 †¢ Net Profit Margin 12 †¢ Return on Assets 14 †¢ DuPont Return on Assets 17 †¢ Operating Income Margin 20 †¢ Operating Assets Turnover 23 †¢ Return on Operating Assets 26 †¢ Sales to Fixed Assets 29 Return on Total Equity 31 †¢ Gross Profit Margin 34 4. Chapter 4) Summary, Conclusion, Recommendations Limitations: 5. 2 Conclusion36 5. 3 Recommendations38 Section II a) Introduction of the student39 b) Bibliography39 Section I Chapter 1) Introduction to the Project: My project is about the financial standings and performance interpretations of three leading pharmaceuticals of Pakistan. I am willing to conduct this project to analyze the potentials and flaws of the same sort of business. My findings will facilitate all related parties to have impartial analysis. This project will also provide a snapshot of pharmaceuticals’ competence in handling their resource for generating profits. Profitability ratio analysis helps to conduct a quantitative scrutiny of raw data. It assists the title-holders and decision-makers to monitor improvement in their businesses and endow with qualified analysis. It also helps to analyze and interpret for future prospects. My project will help all the stakeholders to have impartial comparative performance analysis. Reliable analysis of financial statements has got enormous importance in the current economic scenario. Investors, debtors, creditors and customers demand concrete, credible and result-oriented approach on which they can rely. This sort of project is always needed to have impartial analysis that encourages financier to invest in more profitable venture. You read "Financial Statement Analysis of Pharmaceuticals in Pakistan" in category "Papers" It will also help the relevant pharmaceuticals to overcome their loopholes. The pharmaceutical concerns have shown high sales in the current era. It is justifiable to call it the most developed technological segment in the country’s financial system. This business is presently experiencing a phase of considerable transformation in under developed countries. Well-established pharmaceuticals can allow investments in more R ; D that expand their potential drugs range. Abbott Laboratories: They are a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Their products span the continuum of care, from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Their comprehensive line of products encircles life itself – addressing important health needs from infancy to the golden years. They have over 70,000 employees worldwide and a global presence in more than 130 countries, Abbott Pakistan is part of the global healthcare corporation of Abbott Laboratories, Chicago, USA. Abbott started operations in Pakistan as a marketing affiliate in 1948; the company has steadily expanded to comprise a work force of over 1500 employees. Currently two manufacturing facilities located at Landhi and Korangi in Karachi continue to use innovative technology to produce top quality pharmaceutical products. Abbott Pakistan has leadership in the field of Pain Management, Anesthesia * Medical Nutrition * Anti-Infective Ferozsons Laboratories Limited: It is one of the leading pharmaceuticals in Pakistan. It was incorporated as a Private Limited Company in 1954; Ferozsons Laboratories Limited became Pakistan’s first local pharmaceutical company to be listed on the country’s stock exchanges (1960). Commencing production in 1956, they made their beginnings primarily as manufac turers of fine chemicals and galenicals, and as toll-manufacturers for multinational pharmaceutical corporations today, heir core strength lies in their own range of branded generics, which cover products in the following segments:   * Anti-infective * Gastrointestinal * Cardiovascular * Dermatology Their marketing force consists of over 230 representatives and managers covering the territories of Pakistan. They have a  consistent prescription growth rate of over 20% per annum  in their promoted products; they provide a solid platform for creating and establishing brands in the Pakistani market. Sanofi-Aventis: Sanofi-Aventis is one of the world’s largest pharmaceutical companies serving the cause of improving health and wellbeing. It is present in more than  100 countries, with around  11,000 scientists. They have around 100, 000 employees  working to improve health and wellbeing. Their Global headquarters are in Paris, France. Sanofi-Aventis focuses its activities on 7 major therapeutic areas: * Cardiovascular * Thrombosis * Oncology * Central Nervous System * Metabolic Disorders * Internal Medicine * Vaccines I have selected this project to have broad based comparative analysis between pharmaceuticals operating in Pakistan with different origins. It is desirable for me to know how these pharmaceuticals utilizing their resources to yield high profits effectively. 1. 1 Financial Period Under-Consideration for Analysis: Financial years under consideration for analysis are 2008 to 2010 of Abbott, Ferozsons and Sanofi-Aventis. 1. 2 Objectives: The core objectives of the project will be to observe the operations of pharmaceuticals, their financial emergence and potencies along with flaws. To analyze the ability of selected pharmaceuticals to earn profit over a period of time * To analyze the selected pharmaceuticals efficiency in managing their resource for generating profit * To find out the reasons for generating profit over the years for selected pharmaceuticals * To find out that how effectively selected pharmaceuticals are maximizing their profits by controlling their costs/expenses * Tren d Analysis will help to study the financial history of pharmaceuticals for comparison. * I would justify my findings about the financial capability of the pharmaceuticals to satisfy the stakeholders. . 3 Significance of the Project: Profitability ratio analysis would provide thorough information about the credibility and current standings of pharmaceuticals. My project will help creditors to know the liquidity position of pharmaceuticals, its relation with profitability and help to settle their priorities. Liquidity determines a company’s capability to meet up its obligations. If a company is facing troubles in meeting its urgent monetary commitments, it can affect its business functions and profitability. Concisely a pharmaceutical with better profitability will be enjoying improved liquidity position. It can help debtors to assess how pharmaceuticals are extending credits, effectiveness of collecting debts and its impact on profit. I want to carry out this type of project to help the investors for settling their decisions in making investments in such a pharmaceutical that would best value their wealth. It will assist the customers to select such pharmaceutical that is yielding better profits and more reliable. It would help the management to have an independent analysis in identifying their loopholes. Profitability Ratio Analysis, Trend analysis and comparisons of results with other type of data will be judged against the pharmaceuticals within the industry. In short my analysis will help all stakeholders to have relevant and reliable information to ease their decision making process. Chapter 2) Data Processing and analysis: I will disclose and acknowledge all references for all materials that are used from all sources. I will cite my sources each time if exact quote is copied of an author or paraphrasing of the same is drafted in my own words. I will provide reference if I copy a table, chart, diagram, or graph wholly or partly. APA style of referencing will be used. 2. 1 Data Collection Sources may be: Primary Sources: This first hand data will be the contents I am investigating through financial statements of my relevant pharmaceuticals. Study of current data is my primary source. Secondary Sources may be: It will be collected through financial statements of my selected pharmaceuticals and internet. 2. 2 Data Processing and Analysis Tools: Microsoft word and excel will be used to evaluate ratio analysis. Chapter 3) Data Analysis Profitability Ratio Analysis Project I have taken into consideration three recent Financial Years 2008, 2009 and 2010 for analysis of Abbott, Ferozsons and Sanofi-Aventis. 1- Net profit margin Introduction: The net profit margin formula reveals that how much of a company’s revenues are reserved as net income. It is generally expressed as a percentage. It is calculated by dividing net profit with sales revenue for a given year. Formula: Net profit margin= Net Profit / Sales Revenue * 100 Net profit margin= (Answer) %age Calculation: Net profit margin| Year 2008| Year 2009| Year 2010| Abbott| =343,980/7,089,163=4. 5%| =609,072/8,450,118=7. 21%| =1,176,944/10,995,701=10. 70% | Ferozsons| =217,023. 829/932,297. 994=23. 28%| =182,757. 453/1,085,393. 578=16. 84%| =317,542. 675/1,273,374. 822=24. 94%| Sanofi-Aventis | =38,269/4,346,528=0. 88%| =167,371/6,725,708=2. 49%| =224,024/6,158,295=3. 64%| Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide br eakup of net profit (numerator) and sales revenue (denominator) as these figures are mentioned in Profit and loss account. Graphical Representation and Trend Analysis: Interpretation and Comparison Ferozsons has yielded highest net profit ratio (24. 4% in 2010) whereas Abbott laboratory has the maximum sales volume with compare to other two. Ferozsons and Abbott have yielded sufficient net profits to recover all operating, non-operating expenses and taxation charges. They have the tendency to build up reserves after paying all fixed interest charges and dividends. Sanofi-Aventis has yielded very low net profit (0. 88% in 2008) despite reasonable sales volume. Abbott has shown increasing trend from FY 2008 to 2010 by producing the highest sales volume and by curtailing cost of goods sold, operating and non-operating expenses. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to the increase in cost of goods sold. It has revived in FY 2010 by yielding the highest net profit percentage by controlling its cost of goods sold. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but insufficient net profit to keep any reserves. It has shown the lowest profit percentage in FY 2008 due to very high cost of goods sold and operating expenses along with finance charges. Abbott has changed its financial year from November to December in 2010 (13 months) that has also given it edge in producing better sales volume. Ferozsons has been leading and surpassed other pharmaceuticals with high profit margins by curtailing its cost of goods sold and operating expenses as compared to others. On the other hand Abbott has shown the highest volume of sales as compared to others but profit yielding capacity has seemed to be been on the way out. Sanofi-Aventis has yielded very low profits due to escalating cost of goods sold, operating and non-operating charges. 2- Return on Assets Introduction: Return on average total assets is a profitability gauge of a company with relation to its total assets. It is generally expressed as a percentage. It is calculated by dividing net profit with average total assets for a given year. Formula: Return on Assets= Net Profit / Average Total Assets * 100 Return on Assets = (Answer) %age Calculation: Return on Assets= Net Profit / Average Total Assets * 100| | Return on Assets| Year 2008| Year 2009| Year 2010| Abbott| 343980/4865539*100=7. 07%| 609072/5007143*100=12. 16%| 1176944/5377499*100=21. 89%| Ferozsons| 217023. 829/1349994. 951*100=16. 08%| 182757. 453/1530769. 165*100=11. 94%| 317542. 675/1724423. 948*100=18. 41%| | | | | Sanofi-Aventis | 38269/2706204*100=1. 1%| 167371/3211724*100=5. 21%| 224024/3393760*100=6. 60%| | | | | Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of net profit (numerator) as it is mentioned in profit loss account. | Total Assets| | | | Total Assets| Year 2007| Year 2008| Year 2009| Year 2010| Abbott| 4681368| 5049710| 4964576| 5790421| Ferozsons| 1218361. 366| 1481 628. 536| 1579909. 793| 1868938. 102| | | | | | Sanofi-Aventis | 2428053| 2984355| 3439093| 3348427| | | | | | | Average Total Assets=(Current Year + Preceding Year)/2| | Average Total Assets| Year 2008| Year 2009| Year 2010| Abbott| (4681368+5049710)/2=4865539| (5049710+4964576)/2=5007143| (4964576+5790421)/2=5377499| Ferozsons| (1218361. 366+1481628. 536)/2=1349994. 951| (1481628. 536+1579909. 793)/2=1530769. 165| (1579909. 793+1868938. 102)/2=1724423. 948| | | | | Sanofi-Aventis | (2428053+2984355)/2=2706204| (2984355+3439093)/2=3211724| (3439093+3348427)/2=3393760| | | | | Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott Laboratory has yielded better percentage of return on assets due to reasonable net profit. The better ratio of Abbott laboratory depict that the pharmaceutical is able to manage its assets efficiently to generate profit. Ferozsons has also reasonable percentage of ROA that depicts its effective management of assets to generate profit. Sanofi-Aventis has low volumes of net profit with higher size of average total assets that depicts its inability in utilizing its assets properly to generate profit. Abbott has shown increasing trend from FY 2008 to 2010 due to better profit margin as compared to previous years. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to decline in net rofit volume. It has also revived in FY 2010 by yielding the higher net profit against average total assets. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but inadequate net profit to utilize total assets effectively. It has shown the lowest ROA in FY 2008 due to very low net profit. Ferozsons has the highest ROA on the whole. It has outclassed other pharmaceuticals. In contrast Sanofi-Aventis has shown the lowest volume of net profits but considerable magnitude of average total assets that depict inefficient management policies to utilize total assets. Abbott has shown considerably well managed performance in utilizing total assets for producing profit. 3- Dupont Return on Assets Introduction: Dupont return on total assets is used to evaluate how productively assets are used. It measures the mutual effects of profit margins and asset turnover. It is generally expressed as a percentage. It is calculated by multiplying net profit margin and total asset turnover for a given year. Formula: DuPont Return on Assets= (Net income / Sales) x (Sales / Total Assets) DuPont Return on Assets = Net profit margin x Total asset turnover DuPont Return on Assets = (Answer) %age Calculation: Dupont return on Assets = net profit margin x total asset turnover Dupont return on Assets| Year 2008| Year 2009| Year 2010| Abbott| 4. 85%*1. 41=6. 84%| 7. 22%*1. 70=12. 27%| 10. 70%*1. 90=20. 33%| Ferozsons| 23. 28%*0. 63=14. 65%| 16. 84%*0. 69=11. 57%| 24. 94%*0. 68=16. 99%| Sanofi-Aventis | 0. 88%*1. 46=1. 28%| 2. 49%*1. 96=4. 87%| 3. 64%*1. 84=6. 69%| | | | | Note: Numeric Figures are mentioned in ‘000’ Working: Net profit margin= (Net income / Sales)*100 | Year 2008| Year 2009| Year 2010| Abbott| =343980/7089163*100=4. 85%| =609,072/8,431,080*100=7. 22%| =1,176,944/10,995,701*100=10. 0% | Ferozsons| =217,023. 829/932,297. 994*100=23. 28%| =182,757. 453/1,085,393. 578*100=16. 84%| =317,542. 675/1,273,374. 822*100=24. 94%| Sanofi-Aventis | =38,269/4,346,528*100=0. 88%| =167,371/6,725,708*100=2. 49%| =224,024/6,158,295*100=3. 64%| Total assets Turnover= (Sales / Total Assets) Abbott| 7089163/5049710=1. 41 Times| =8450118/4964576=1. 70 Times| =10995701/579 0421=1. 90 Times| Ferozsons| =932297. 994/1481628. 536=0. 63 Times| =1085393. 578/1579909. 793=0. 69 Times| =1273374. 822/1868938. 102=0. 68 Times| Sanofi-Aventis | =4346528/2984355=1. 46 Times| =6725708/3439093=1. 6 Times| =6158295/3348427=1. 84 Times|   | Dupont Return on Assets|   | | Year 2008| Year 2009| Year 2010| Average| Abbott| 6. 84%| 12. 27%| 20. 33%| 13. 15%| Ferozsons| 14. 65%| 11. 57%| 16. 99%| 14. 40%| Sanofi-Aventis | 1. 28%| 4. 87%| 6. 69%| 4. 30%| Graphical Representation and Trend Analysis: Interpretation and Comparison: We can analyze the sales comparisons with net income and assets of Abbott laboratory; it has yielded better volume of profits along with an increase in its total assets and sales volume over the years. Its higher ratio depicts the higher generating rate of its wealth. Ferozsons has yielded higher profit margins by controlling its cost of goods sold but lower total assets turnover rate due to less sales volumes. Sanofi-Aventis has very low net profit margins but reasonably well total assets turnover rate that depicts lower generating rate of its wealth. Abbott has shown increasing trend from FY 2008 to 2010 due to better net profit margin and sales volumes. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to comparatively low profit margin. It has also revived in FY 2010 by yielding higher profit margins, increase in total assets and sales volume. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but insufficient net profit margins has overlooked better total assets turnover rate. Ferozsons has the highest Dupont return on assets. It outshines other pharmaceuticals in better performance on the basis of relevant FY’s average. On the contrary Sanofi-Aventis has shown the lowest volume of Dupont return on assets but reasonable magnitude of total assets and sales volume. Abbott has shown fair performance in utilizing total assets with sales spectrum. Its average is near to Ferozsons’. 4- Operating income margin Introduction: This ratio is used to compute the price policies and operational competence. It is generally expressed as a percentage. It is calculated by dividing operating profit with net sales for a given year. Formula: Operating income margin = Operating Profit / Net Sales*100 Operating income margin = (Answer) %age Calculation: Operating income margin| Year 2008| Year 2009| Year 2010| Abbott| 547526/7089163*100=7. 72%| 878503/8450118*100=10. 42%| 1744787/10995701*100=15. 87%| Ferozsons| 280330. 464/932297. 994*100=30. 07%| 238019. 515/1085393. 578*100=21. 93%| 330518. 449/1273374. 822*100=25. 6%| Sanofi-Aventis | 171478/4346528*100=3. 95%| 384071/6725708*100=5. 71%| 531682/6158295*100=8. 63%| Note: Numeric Figures are mentioned in ‘000’ Working: Operating Profit (Numerator) = Gross Profit + Other Operating Income – Admin Expenses – Selling Distribution Expenses – Other Charges Operating Income Break-up GP+OTHER OPERATING INCOME-ADMIN EXP-SELLING DISTRIBUTION EXP-OTHER CHARGES|   | 2008| | Abbott| 2097653+105545-255737-1334884-65051=547526| | | | | Ferozsons| 540738. 562+20809. 63-60719. 276-199424. 66-21073. 792=280330. 464| | | | | Sanofi- Aventis | 1055823+52809-122627-757135-57392=171478| | | GP+OTHER OPERATING INCOME-ADMIN EXP-SELLING DISTRIBUTION EXP-OTHER CHARGES|   | 2009| 2010| | Abbott| 2321131+141890-201943-1252810-129765=878503| 3687038+109079-267915-1601101-182314=1744787| | | | | | Ferozsons| 584211. 298+23954. 076-80995. 604-261185. 939-27964. 316=238019. 515| 633242. 518+43434. 507-83262. 197-234076. 533-28819. 846=330518. 449| | | | | | Sanofi- Aventis | 1626599+101126-152707-1048283-142664=384071| 1753544+102220-175580-1094063-54439=531682| | | | | No need to provide breakup of Net Sales (denominator) are mentioned in profit and loss account of respective pharmaceutical. Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott laboratory has yielded comparatively low operating income margins as compared to Ferozsons due to an increase in business cost and its expenses. Abbott has lower volume of operating profit in 2008 with increased net sales. Ferozsons has optimum capacity to pay for its fixed cost. Sanofi-Aventis has low operating income margin that depicts its poor pricing strategy and operating efficiency. It has minimal operating profits over the years but reasonable net sales volumes. Abbott has shown increasing trend from FY 2008 to 2010. The pharmaceutical should manage its expenses to reduce this decline. It has done better in FY 2010 by producing highest operating profit. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to comparatively low operating profit with comparatively better sales volume. It has also revived in FY 2010 by yielding higher operating profit. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 but insufficient operating profit margins has caused inadequate margins to meet its fixed costs. The aforementioned ratio provides an insight to determine the quality of a company. Ferozsons has the highest operating income margins. It has left behind other pharmaceuticals by yielding sufficient operating income that depicts better pricing approach and operating competence. On the contrary Sanofi-Aventis has shown the lowest volume of operating profit margins that shows its flaws in pricing tactic. Abbott has shown adequate operating profits to meets its fixed costs but comparatively low as compared with Ferozsons. 5- Operating Assets Turnover Introduction: This is a financial ratio that indicates the effectiveness with which a firm’s management uses its operating assets to generate sales. It is generally expressed in times. It is calculated by dividing net sales with average operating assets for a given year. Formula: Operating Assets Turnover= Net sales/ Operating assets Operating Assets Turnover = (Answer) Times Calculation: Operating Assets Turnover| Year 2008| Year 2009| Year 2010| Abbott| 7089163/5168443=1. 37 Times| 8431080/4684635=1. 80 Times| 10995701/4740615= 2. 32 Times| | | | | Ferozsons| 932297. 994/1055296. 397=0. 88 Times| 1085393. 578/652061. 759=1. 66 Times| 1273374. 822/865565= 1. 47 Times| | | | | Sanofi- Aventis | 4346528/33338090= 0. 13 Times| 6725708/2785713= 2. 1 Times| 6158295/2399541= 2. 57 Times| | | | | Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Net Sales (numerator) are mentioned in profit and loss account of respective pharmaceutical. Operating Assets = Total Assets – (Intangible Assets + Capital work in progress+ Loans and Advances + Investments + other assets) Break-up of operat ing Assets Operating Assets Turnover| Year 2008| Year 2009| Year 2010| Abbott| 5790421-(0+392954+170071+2801+56152)=5168443 | 4964576-(0+159886+73056+4393+42606)=4684635 | 5049710-(0+202480+23580+44896+4393+33746)=4740615 | Ferozsons| 1868938. 02-(0+141831. 157 +223867. 236+438228. 405+9714. 907)=1055296. 397 | 1579909. 793-(0+171010. 120+215775. 559+205992. 988+35069. 367)=952061. 759 | 1481628. 536-(0+0204216. 826+217372. 560+194474. 564)=865565 | Sanofi- Aventis | 33484287-(339+ 119,808+21381+4669)=33338090 | 3439093-(114+ 618,974+29683+4609)=2785713 | 2984535-(729+550391+30549+3325)=2399541 | Graphical Representation and Trend Analysis: Interpretation and Comparison: Operating assets turnover of Abbott laboratory has improved over the years as operating assets are slightly decreasing with respect to better net sales. Ferozsons has comparatively improved turnover due to substantial increase in net sales with respect to operating assets. Sanofi-Aventis has reasonably well sales volume but operating assets haven’t grown in proportion. Abbott has shown increasing trend from 2008 to 2010 due to improved sales volume and minor change in operating assets. Ferozsons has shown an increasing trend from FY 2008 to 2009 due to comparatively decrease in operating assets as compared to net sales. Sanofi-Aventis has shown an increasing trend from FY 2008 to 2010 due to better sales with respect to operating assets. Sanofi-Aventis has represented its efficiency at its best in managing significant assets like Property, Plant ; Equipment, Stock in Trade and Cash with bank balances. It has surpassed others during FY 2009-10. On the other hand Ferozsons has shown comparatively low operating Assets Turnover with respect to other two. Abbott has shown rather better performance on the whole. 6- Return on Operating Assets Introduction: This is a financial ratio that gives an idea  as how efficient  management is  at using its assets to generate earnings. It is generally expressed as a percentage. It is calculated by dividing net profit with average operating assets for a given year. Formula: Return on operating Assets = Net profit / Operating assets*100 Return on operating Assets = (Answer) %age Calculation: Return on operating Assets| Year 2008| Year 2009| Year 2010| Abbott| 343980/5168443=6. 66%| 609072/4684635=13%| 1176944/4740615=24. 83%| | | | | Ferozsons| 217023. 829/1055296. 397=20. 57%| 182757. 453/952061. 759=19. 20%| 317542. 675/865565=36. 69%| | | | | Sanofi-Aventis | 38269/33338090=0. 11%| 167371/2785713=6. 01%| 224024/2399541=9. 34%| | | | | Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Net Profit (Numerator) are mentioned in profit and loss account of respective pharmaceutical. Operating Assets = Total Assets – (Intangible Assets + Capital work in progress+ Loans and Advances + Investments + other assets) Break-up of operating Assets Operating Assets Turnover| Year 2008| Year 2009| Year 2010| Abbott| 5790421-(0+392954+170071+2801+56152)=5168443 | 4964576-(0+159886+73056+4393+42606)=4684635 | 5049710-(0+202480+23580+44896+4393+33746)=4740615 | Ferozsons| 1868938. 102-(0+141831. 157 +223867. 36+438228. 405+9714. 907)=1055296. 397 | 1579909. 793-(0+171010. 120+215775. 559+205992. 988+35069. 367)=952061. 759 | 1481628. 536-(0+0204216. 826+217372. 560+194474. 564)=865565 | Sanofi- Aventis | 33484287-(339+ 119,808+21381+4669)=33338090 | 3439093-(114+ 618,974+29683+4609)=2785713 | 2984535-(729+550391+30549+3325)=2399541 | Graphical Representation and Trend Analysis: Int erpretation and Comparison: Percentages of return on assets actively used to create profit of Abbott laboratory have been reasonable. Net profit has declined during 2008 that has caused comparatively low ratio. Ferozsons has also utilized its assets actually required to run the business. Its operating assets have improved over the years with reasonable net profit volumes. Sanofi-Aventis has not utilized it’s actively used assets efficiently to create revenue, consequently very low returns. Abbott has shown increasing trend from 2008 to 2010 due to comparatively high net profit. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to decline in net profit and increased volume of operating assets. It has the highest percentage of 36. 69% in FY 2010 due to rapid increase in net profit. Sanofi-Aventis has shown increasing trend over the years due to substantial increase in the volumes of net profit but these percentages have been below average. It needs to improve its net profit. Ferozsons has utilized its revenue producing assets exceptionally well. It has been leading other two. On the other hand Sanofi-Aventis has shown very low percentages of return on operating assets and it has been unable to actively use its assets to create revenue. Abbott has shown noticeably improved performance but has not performed better than Sanofi-Aventis. 7- Sales to Fixed Assets Introduction: The fixed-asset turnover ratio measures a company’s ability to generate net sales from fixed-asset investments –  specifically property, plant and equipment (PPE) – net  of depreciation. It is generally expressed in times. It is calculated by dividing net sales with fixed assets for a given year. Formula: Sales to fixed Assets = Net sales / Fixed assets Sales to fixed Assets = (Answer) Times Calculation: Sales to fixed Assets| Year 2008| Year 2009| Year 2010| Abbott| 7089163/1560835= 4. 54 Times| 8450118/1662785=5. 07 Times| 10995701/1877596= 5. 6 Times| Ferozsons| 932297. 994/610987. 413=1. 53 Times| 1085393. 578/735614. 952=1. 48 Times| 1273374. 822/742280. 446=1. 72 Times| Sanofi-Aventis | 4346528/1195978= 3. 63 Times| 6725708/1393461=4. 83 Times| 6158295/1409260=4. 37 Times| Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Net Sales (Numerator) are mentioned in profit and loss account of respec tive pharmaceutical. Fixed assets breakup (Denominator) = Property, Plant and Equipment-net  of depreciation, the said figure has been given in the balance Sheet. Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott laboratory’s performance is better as it is generating almost more than 5 times (on average) sales turnover as compared to its small amount of property, plant and equipment. Ferozsons seems to be lenient in producing sales as per the volume of Property, plant and equipment. It has overinvested in fixed assets. It needs to revive its sales by introducing new product’s range. Sanofi-Aventis has also done reasonably well to generate sufficient sales volume as compared to its small amounts of fixed assets. Abbott has shown increasing trend from 2008 to 2010 due to increased sales volume and comparatively small amount of fixed assets. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to overinvestment in property, plant and equipment. It has improved its ratio in FY 2010 by sufficient increase in sales volume. Sanofi-Aventis has shown increasing trend from FY 2008 to 2009 due to adequate increase in sales volume. It has declined in FY 2010 due to decrease in sales. Abbott has surpassed others by producing bulk sales volume with a relatively small mount of fixed assets. On the other hand Ferozsons has shown very low turnover that means it has overinvested in fixed assets. Sanofi-Aventis has shown effective job by producing better sales volume with minute amount of property, plant and equipment.. 8- Return on total equity Introduction: Return on equity  measures a corporation’s profitability  by revealing how much  profit a company generates  with the  money   shareholders have invested. It is generally expressed as a percentage. It is calculated by dividing net profit with share holder’s equity for a given year. Formula: Return on total equity = Net profit / Share holder’s equity*100 Return on total equity = (Answer) %age Calculation: Return on total equity| Year 2008| Year 2009| Year 2010| Average| Abbott| 343980/3568512*100=9. 64%| 609072/3238460*100 =18. 81%| 1176944/3912539*100 =30. 08%| 19. 51%| Ferozsons| 217023. 829/826236. 891*100 =26. 27%| 182757. 453/970129. 401*100 =18. 84%| 317542. 675/1275765. 058*100 =24. 89%| 23. 33%| Sanofi- Aventis | 38269/1116612*100=3. 43%| 167371/1292449*100=12. 95%| 224024/1461403*100=15. 33%| 10. 57%| Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Net Profit (Numerator) are mentioned in profit and loss account of respective pharmaceutical. Share holder’s Equity breakup (Denominator) = Issued, subscribed ; paid-up capital + Reserves – capital + Reserves – revenue Issued, subscribed ; paid-up capital + (Capital Reserves + Revenue Reserves)|   | 2008| 2009| | Abbott| 979003+154777+2434732=3568512| 979003+173853+2085604=3238460| | | | | | Ferozsons| 144672. 768+321. 843+681242. 280=826236. 891| 173607. 322+321. 843+796200. 236=970129. 401| | | | | | Sanofi- Aventis | 96448+1020164=1116612| 96448+1196001=1292449| | | | Issued, subscribed ; paid-up capital + Reserves – capital + Reserves – revenue|   | 2010| | Abbott| 979003+197167+2736369=3912539| | | | | Ferozsons| 208328. 786+321. 843+1067114. 429=1275765. 058| | | | | Sanofi- Aventis | 96448+1364955=1461403| | | | Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott laboratory has yielded better profits on owner’s equity that is a positive sign for investors and lenders. Its return on owner’s equity falls in FY 2008 due to decline in net profit. Ferozsons has also done considerably better by yielding sufficient returns. It has also decline in returns during FY 2009 due to rapid decrease in net profit. Its owner’s equity has also improved over the years. Sanofi-Aventis has also slightly improved over the years as it has yielded nominal returns on investment in FY 2009 and 2010. It has very low returns in FY 2008 that should be a matter of concern for the management. Abbott has shown increasing trend from 2008 to 2010 due to increase in net profit volume over the years. Ferozsons has shown a decreasing trend from FY 2008 to 2009 due to substantial decrease in net profit. It has improved its ratio in FY 2010 by sufficient increase in net profit. Sanofi-Aventis has shown increasing trend from FY 2008 to 2010 due to slightly noticeable increase in net profit volumes but these are not attractive from investors’ point of view. Ferozsons has surpassed others by producing overall better average return that is 23. 33%. It has generated sufficient net profit volumes. Sanofi-Aventis has produced insufficient returns to satisfy its investors. It needs to watch over its policies for better performance. Abbott has also produced reasonable returns on owner’s equity. 9- Gross Profit Margin Introduction: It is used to assess  a firm’s financial health by revealing the  proportion of money left over from revenues after accounting for the cost of goods sold. It is generally expressed as a percentage. It is calculated by dividing gross profit with net sales for a given year. Formula: Gross profit Margin = Gross profit / Net sales*100 Gross profit Margin = (Answer) %age Calculation: Gross profit Margin| Year 2008| Year 2009| Year 2010| Abbott| 2097653/7089163*100= 29. 6%| 2321131/8450118*100=27. 53%| 3687038/10995701*100=33. 53%| Ferozsons| 540738. 562/932297. 994*100=58%| 584211. 298/1085393. 578*100=53. 82%| 633242. 518/1273374. 22*100=49. 73%| Sanofi- Aventis | 1055823/4346528*100=24. 29%| 1626599/6725708*100=24. 18%| 1753544/6158295*100=28. 47%| Note: Numeric Figures are mentioned in ‘000’ Working: No need to provide breakup of Gross Profit (Numerator) and Net Sales (Denominator) as these figures are mentioned in profit and loss account of respective pharmaceu tical. Graphical Representation and Trend Analysis: Interpretation and Comparison: Abbott laboratory has reasonable overall gross profit margins. That’s why it has yielded sufficient returns on equity. Its net sale has increased over the years. It has a decline in gross profit in FY 2009. Ferozsons has also done exceptionally well by yielding the highest gross profit margins. It has the tendency to face adverse economic condition such as low demanding and price competition. Sanofi-Aventis has undermined overall gross profit margins. Its gross profit margins are not sufficiently enough to bear operating and non-operating expenses. Abbott has shown decreasing trend from 2008 to 2009 due to decrease in gross profit. It has revived in FY 2010 by yielding higher gross profit. Ferozsons has also shown a decreasing trend from FY 2008 to 2009 due to significant decrease in gross profit. It has decreased further in FY 2010 due to bulk net sales volumes. Sanofi-Aventis has shown almost same trend in FY 2008 and 2009 but an increase in FY 2010 due to higher gross profit. Ferozsons has left behind others by producing overall excellent gross profit margins. It has generated sufficient gross profit volumes to face unfavorable financial circumstances such as low demanding and price competition. Sanofi-Aventis has produced insufficient gross profit returns to satisfy any stakeholder. Abbott has produced adequate gross profit margins to absorb operating and non-operating expenses. Chapter 4) Summary, Conclusion, Recommendations Limitations: 4. 2) Conclusions * Ferozsons and Abbott have yielded sufficient net profits to recover all operating, non-operating expenses and taxation charges. They have the tendency to build up reserves after paying all fixed interest charges and dividends. Sanofi-Aventis has yielded very low net profit despite reasonable sales volume due to escalating cost of goods sold, operating and non-operating charges. * Abbott laboratory and Ferozsons are efficiently managing its assets to generate profit. Sanofi-Aventis has low volumes of net profit with higher size of total assets that depicts its not utilizing its assets properly to generate profit. * Abbott laboratory and Ferozsons have yielded greater volume of profits along with an increase in its total assets and sales volume over the years. Its higher ratio depicts the higher generating rate of its wealth. Sanofi-Aventis has very low net profit margins but reasonably well total assets turnover rate that depicts lower generating rate of its wealth. * Ferozsons has the highest operating income margins that depict better pricing approach and operating competence. On the contrary Sanofi-Aventis has shown the lowest volume of operating profit margins that shows its flaws in pricing tactic. Abbott has shown adequate operating profits to meets its fixed costs. * Sanofi-Aventis has shown its efficiency at its best in managing significant assets like Property, Plant Equipment, Stock in Trade and Cash with bank balances. On the other hand Ferozsons and Abbott have shown comparatively low Operating Assets Turnover in utilizing operating assets for generating sales. * Ferozsons has utilized its revenue producing assets exceptionally well. On the other hand Sanofi-Aventis has shown very low percentages of return on operating assets. Abbott has shown noticeably improved performance on the whole. * Abbott has produced bulk sales volume with a relatively small amount of fixed assets. Ferozsons has shown very low turnover that means it has overinvested in fixed assets. Sanofi-Aventis has shown effective job by producing better sales volume turnover with minute amount of property, plant and equipment. * Sanofi-Aventis has produced insufficient returns to satisfy its investors. Ferozsons has produced enough returns on owner’s equity whereas Abbott has also yielded reasonable returns. It is a good sign for prospect investors. * Ferozsons has generated sufficient gross profit volumes to face unfavorable financial circumstances such as low demanding and price competition. Sanofi-Aventis has produced insufficient gross profit returns to satisfy any stakeholder. Abbott has produced adequate gross profit margins to absorb operating and non-operating expenses. 4. 3) Recommendations * Ferozsons and Abbott need to keep scheming in the same way to keep curtailing cost of goods sold, operating and non-operating expenses. Sanofi-Aventis really need to look its profit yielding capacity. It should review and improve its product range. Furthermore effective management policies can produce the required results. * Ferozsons and Abbott need to retain effective management policies by utilizing more assets for the generation of higher profits in future. Sanofi-Aventis can yield better profit by utilizing its assets proficiently through effective management role. * Ferozsons and Abbott have reasonable Dupont return on Assets with sales spectrum. Sanofi-Aventis needs to improve it by curtailing its cost of goods sold, operating and non-operating expenses. Better profits always enhance investors’ confidence and it matters in the end. Ferozsons and Abbott have reasonable operating income margin and they need to keep strengthening better pricing approach and operating competence. Sanofi-Aventis requires implementing improved pricing tactic to attain better operating proficiency. * Abbott and Ferozsons need to utilize operating assets more effectively to improve their tur nover as per sales volume. Sanofi-Aventis has unexpectedly better turnover, it should keep utilizing operating assets in the same manner. * Sanofi-Aventis needs to utilize its revenue producing assets in a better way. Abbott and Ferozsons should retain their current line of action. Ferozsons needs to downsize overinvested in fixed assets. Abbott and Sanofi-Aventis should keep their approach towards utilizing its fixed assets in terms of sales volume. * Sanofi-Aventis needs to watch over its policies for better return on owner’s equity to retain its investor confidence. Ferozsons and Abbott have to retain their pace in retaining current returns on owner’s equity. * Sanofi-Aventis needs to improve their selling strategies to improve profit margins. Abbott and Ferozsons can increase gross profits by implementing more effective management policies. Section II a) Introduction of the student Last degree Obtained: B. Com Organization’s Name: Wisdomhouse School Designation: Owner/Principal Experience: 7 Years b) Bibliography †¢Vu hand Outs †¢Internet sources †¢www. investopedia. com †¢http://www. accountingtools. com/fixed-asset-turnover-ratio †¢http://www. abbott. com. pk/11_Financial. htm †¢http://www. pakistaneconomist. com/database2/pdffiles/Pharmaceutical/Abbot/Year%202008/ALAnnual-%20Y08. pdf †¢http://www. ferozsons-labs. com/investor. htm †¢http://www. sanofi-aventis. com. pk/l/pk/en/layout. jsp? scat=59A5026C-701D-4C54-B1EC-E7788EA00832 †¢Ross, S. A. , R. W. Westerfield and B. D. Jordan. Essentials of Corporate Finance (1999), 2nd Edition, Irwin/McGraw-Hill. How to cite Financial Statement Analysis of Pharmaceuticals in Pakistan, Papers

The Third Man free essay sample

Throughout the film it is seen that the requirement of maintaining loyalty and friendship is overridden when morals are tested. The film follows the ignorant journey of Holly Martins as he attempts to discover the mystery behind the death of his ‘dear friend’ Harry Lime. The canted camera angles and shadows allow the audience to identify the trustworthy characters from the corrupt, and Reed’s motif of re-occurring props and non-diagetic zither music establish the moral ambiguity of the films setting and atmosphere. The obligation of betrayal is centrally shown through the protagonist Holly Martins, as his initial ignorant loyalty is presented through Reeds use of canted angles. In the beginning of the film Holly is stubborn, gullible and oblivious to the corrupt setting he has immersed himself in. His innocence is projected through the recurring straight angle on his face, in contrast, suspicious characters such as Harry are given a canted angle suggesting they’re not morally ‘straight’. Holly’s morality and loyalty to Harry is tested in the Ferris wheel scene as he becomes exposed to the true Harry. The scene begins with Holly sitting by the Ferris wheel, appearing dwarfed, hence reiterating his insignificance. The pair enters the carriage and significant camera angles are used on each of their faces to portray to the audience their differing moralities. A straight camera angle is used for Holly, and a tilted for Harry. Holly is exposed to Harrys true nature when he tells him about Anna being arrested and Harry simply says â€Å"Tough, very tough† showing that he doesn’t truly care about her. Also Harry draws Anna’s name in child-like scribble on the window of the carriage, reiterating that he isn’t concerned about her fate. A long shot of the carnival is given, Harry points to the people walking on the ground and says to Holly â€Å"Would you really feel any pity if one of those dots stopped moving forever. Holly, once blind to the truth, is now revealed to Harry’s wrong doings and lack of moral integrity. The shot of the two inside the Ferris wheel makes them appear trapped. Also, this scene is ironic as they’re on a ride for children’s leisure whilst discussing serious criminal activities. As the carriage goes down, Holly gains his realization of what Harry is capable of. This symbolizes him returning to earth as his views on Harry were previously ‘in the clouds’. In a later scene, Holly is exposed to the children sick as a result of Harry’s faulty penicillin. Slow non-diagetic music plays, the children’s face aren’t shown and the teddy bear’s, symbolizing innocence, are lying face down. The camera moves up and Harry’s face emerges from the shadows. He raises his eyebrows, and his expression is confident and arrogant. Reed’s use of shadows as a motif for Harry signifies the audience that he is morally questionable and untrustworthy. At the end of the Ferris wheel scene, Harry presents his cuckoo clock theory to Holly, which ultimately defines his moral view. As displayed in the Ferris wheel scene, Harry has no hesitations in betraying his old friend. He states that he could easily kill Holly right there and then, ‘You don’t think they’d look for a bullet wound after you hit that ground. † Easily the most charming, cultured and likeable character in the movie, Lime also provides a sharp juxtaposition to Hollys reasons for betrayal. There are several instances where Lime is seen on the verge of betrayal to his good friend, however chances for this are often dissipated as soon as they appear such as Annas presence in the cafe scene where Lime yells at her to get out of the way, all whilst reaching around suspiciously for what appears to be a concealed weapon. The reasons for Limes potential betrayal become more and more apparent as the movie comes to a conclusion, especially in the Russian sectors Ferris wheel. Where Limes incapacity to account for the lives of others also includes his disregard for Hollys continued existence, and as Holy grips the edge of the open door we are privy to the fact that the only esteem Lime holds for anyone is that of himself. Thus, in the interests of self-preservation, Lime feels that loyalty must be sacrificed and hence betrayal is the consequence for the saving of oneself. The necessity for continued existence is therefore the catalyst for Limes potential betrayal of his own friend. The lack of shadows on his face in the film whilst other characters, such as Harry, are placed in shadows and darkness to give the appearance of mystery and evil. Paragraph 1: Holly’s loyalty / morals loyalty to harry as a friend, children sick room scene/Ferris wheel scene- canted angles etc. Paragraph 2: Harry’s loyalty/ morals- shadows revealing himself Paragraph 3: Anna’s loyalty / morals scene at the end, showing her loyalty to Harry Filmmakers use light to illuminate some characters while placing other characters in shadows and darkness to make them appear mysterious, evil or desperate. When the audience first sees the supposedly dead Harry Lime he emerges from the shadows, suggesting his sinister and secretive intentions The necessity of betrayal is most easily shown through Holly Martins, the protagonist of the story whose gullible, unquestioning and persistent nature all result in an easily swayed man who ultimately decides to be a dumb, decoy duck in order to capture Lime and thus cease the heavy weight on his own conscience. Holly, by becoming involved in matters of no concern to him, is emotionally experienced and too superficial to properly deal with the type of deep thought and contemplation involved in the decision between betrayal and the maintenance of the common good. It is not that Holly makes the wrong decision by betraying his friend, rather, it is the fact that his opinions are easily swayed with proof of the evidence, both through his meeting with Lime who questions him as to whether he would Calculate how many dots (humans) you could afford to spare; and through the presentation of Limes young victims. It cannot be denied that Harrys staunch defence of Limes innocence quickly crumbles underneath the production of hard fact, and this reinforces the moral integrity of Holly; who was once so obedient to staying blind to the truth. Such evidence gives the audience more than enough material against Harry in order for them to side with Holly, and hence prove to them the boundaries of how much loyalty one can main, and where the frontiers between betrayal and friendship can inally be breached. Carol Reeds direction of The Third Man, coupled with Graham Greenes screenplay, continually thrust forward the notion that the betrayal of a friend is forgivable in the light of a greater good. However, what one considers the correct, moral course of action is totally dependent upon their preference of what is considered to be the pinnacle form of morality, that being the highest stranded of integrity a human can display. The Third Man arguably considers the betrayal of a friend acceptable in light of the common good, and throughout the movie it is seen that the arguments for maintaining loyalty and friendship are slowly overridden by the notion of duty one feels in their pursuit of the right course of action to take. Holly and Harry both display signs of betrayal to each over the course of the film; whether it is due to the sacrifice they feel they are required to make in order to achieve a higher stance of moral achievement, or rather in the latters case, a lack of ethical consideration towards humanity in general though it can clearly be seen in each case that loyalty can just as easily be discarded in the face of a more impertinent purpose. The necessity of betrayal is most easily shown through Holly Martins, the protagonist of the story whose gullible, unquestioning and persistent nature all result in an easily swayed man who ultimately decides to be a dumb, decoy duck in order to capture Lime and thus cease the heavy weight on his own conscience. Holly, by becoming involved in matters of no concern to him, is emotionally experienced and too superficial to properly deal with the type of deep thought and contemplation involved in the decision between betrayal and the maintenance of the common good. How this is conveyed: through the character of Holly Martins: appearance and reality- the deceptive nature of appearances in a corrupt society, Holly feels as though he may remain loyal to his ‘dear friend’ Harry Lime, Anna remains loyal to Harry through her ‘blinded love’, Holly’s moral integrity – where he discovers †¢Props are the objects that appear in the setting, and are often used to provide significant clues about the characters, eg Dr Winkel’s collection of religious icons †¢Props can also reappear from scene to scene, and from setting to setting, developing more significance and importance. These repeated images are called motifs. †¢A mirror can be used as a motif for the soul of the characters by having that character look searchingly into it, while other films may use mirrors as a motif for a character’s fractured identity or their hidden agenda †¢Windowpanes, staircases, sounds or musical phrases can also be motifs, eg the zither in The Third Man can be described as a motif. * creates or express the mood of the film. used to represents an extension of a character’s state of mind: * A character’s cramped and dirty apartment may indicate that they are feeling trapped in their current lifestyle * The fact that a character’s home is a penthouse with big windows overlooking the city might suggest either the person’s high status and power over the world below them, or the sterility and loneliness of their position. * Changes of setting can signal new starts, challenges, disaster, success, loss and so on, thus alerting us to impo rtant scenes. Filmmakers use light to illuminate some characters while placing other characters in shadows and darkness to make them appear mysterious, evil or desperate. When the audience first sees the supposedly dead Harry Lime he emerges from the shadows, suggesting his sinister and secretive intentions Underexposure * Underexposing a shot means not allowing enough light to pass through the lens, resulting in a dark image. * Commonly used when shooting night-time scenes during the day to give the illusion that it is dark. Gangster and detective films are often underexposed so characters appear shady and mysterious only partially lit or covered in shadows. * Underexposing creates a moody atmosphere as we can’t see what lurks in the darkness Deep focus * A shot where all the elements are in focus. Such camerawork places more equal importance on all the elements in the scene. Makes all elements of mise-en-scene more important because we encouraged to notice them rather than having certain elements blurred into the background. Deep focus shots create a strong connection between character and their setting. Giving equal focus to both character and setting establishes a strong visual link between them, suggesting that setting reflects or symbolises something about that character. In his 1949 Film Noir The Third Man, Carol Reed uses a variety of cinematic techniques to convey the deceptive nature of appearances which drive his characters morality and loyalty.