Track Software Inc. Essay Example for Free

Track Software Inc. Essay 1.) Stanley’s financial goal he seems to be focusing on is maximizing profits. This is the correct goal because the goal of any firm and therefore its financial manager, should be to maximize its value and by extension the wealth of the shareholders. 2.) There is potential for an agency problem if Stanley decides to go ahead and invest in the software developer. This investment will cause a temporary decrease in the earnings per share of the firm which will mean fewer earnings at the present time for the stakeholders. This may be a problem if the goal of the shareholders is to gain money sooner than later. Since, the goal of the shareholders is simply to maximize wealth, there may not be an agency problem since the goal of the financial manager, Stanley, is the same as the shareholders. B. Since there is no preferred stock; Earnings available for common stockholders ≠¡ Net profit after taxes. No of shares of common stock outstanding = 50,000 Earnings per share = ______Net profit after taxes____________ No. of shares of common stock outstanding EPS show a steady increase over the past five years indicating that Stanley is achieving his goal of maximizing profits. C. Operating Cash Flow (OCF) for 2012 OCF = {Earnings before Interest and Taxes Ãâ€" (1 – Tax rate)} + Depreciation OCF = {EBIT Ãâ€" (1 – T)} + Depreciation = {$89 000 Ãâ€" (1 – 0.20)} + $11 000 = $82 200 Free Cash Flow (FCF) for 2012 FCF = OCF1 – Net Fixed Assets Investments – Net Current Assets Investment FCF = OCF – NFAI – NCAI NFAI = Change in net fixed assets + Depreciation = ($132 000 – $128 000) + $11 000 = $15 000 NCAI = Chance in current assets – Change in (Accounts Payable + Accruals) = ($421 000 – $62 000) – {($136 000 + $27 000) – ($126 000 + $25 000)} =$47 000 FCF = $82 200 – $15 000 – $47 000 = $20 200 Both the operating cash flow and the free cash flow are positive indicating that Stanley was able to generate adequate cash flow to cover both operating expenses and investments in assets. There was also $20 200 left over to pay to investors. 1.) Liquidity Although the liquidity of the firm has improved slightly (current ratio) or remained steady (quick ratio), the firm’s performance is considerably below average. 2.) Activity The total asset turnover of the firm has improved but the inventory turnover and average collection period has deteriorated. The activity of the firm is also considerably below the industry average. 3.) Debt The debt ratio decreased in the times interest earned ratio improved. This indicates that the firm used more of its own money to generate profit in 2012 (rather than that of its creditors) and its ability to make contractual interest payments has improved. However, the firm fails to measure up to the industrial average yet again. 4.) Probability The gross, operating and net profit margin and the return on total assets (ROA) have improved slightly showing that the profitability of the firm is fairly stable, demonstrating little improvement. Even so, these ratios are all still subpar. The return of common equity (ROE) has deteriorated, falling to below the industrial average. 5.) Market The firm’s P/E ratio improved but remained bellowed the industry average, showing that the investors are gaining confidence in the firm’s future performance. The M/B ratio fell below, from above the industrial average in 2011 to below in 2012 but still remains fair. E. Stanley should try to find the money to hire the software developer since the ratios show that the firm should be performing better for a firm in this particular industry. In addition, the â€Å"blockbuster† sales potential implies a potential for increased profitability which falls in line with Stanley’s focus. F. The present value of a perpetuity creating a cash flow of $5 000 per year with a 10% interest rate =_____Cash Flow____ Interest Rate  = $5,000 = $50 000  .10 The investor would be willing to pay $50 000 for the firm. G. The present value of a firm generating a perpetual stream of free cash flow of $20 200 per year with an interest rate of 10 % = ___Cash Flow___ Interest Rate  =__$20,200__ =$202,000  .10  I would be willing to pay $202 000 for the firm.

The Truth About The Big Two He Essay -- essays research papers

While reading Ernest Hemingway's short story 'Big Two Hearted River,'; one might think that it is just about a man named Nick Adams returning to Seney, to go camping and fishing. It may not be clear to some readers why the town of Seney is burned down or why Hemingway talks about each of Nick's action in great amount of detail. While first reading the story one might not notice that Hemingway has many symbolic parts, so that he can get the true meaning of the story across to the reader. The story is truly about Nick Adams wanting to get on with his life enjoying to its fullest and putting all of the awful events that have happened to him in the past. When Nick arrives at the town of Seney, he sees that the town is completely burned to the ground. When Nick was on the bridge he looked down at the water and saw trout in the water going against the current. Nick realized that the trout were changing their positions only to steady themselves once again: Nick looked down into the clear, brown water, colored from the pebbly bottom, and watched the trout keeping themselves steady in the current with wavering fins. As he watched them they changed their positions by quick angles, only to hold steady in the fast water again (472). Hemingway is trying to show that the trout are better then Nick, since they are not bothered by emotions or their surroundings. Nick is, he is bothered by the war, which created internal emotions that he is trying to resolve. Hemingway used the trout in t...

Qatar Petroleum Essay

Qatar Petroleum aims at maintaining high level of safety by trying to reach a zero level of people and environmental harm. The company uses Electronic Document Management System (EDMS) to maintain its daily operations. The methods helps them to save their documents in an organized format, retrieve them for future use share and use them. They also have a team which holds regular surveys of the whole petroleum plant especially of the pipelines. A record of all their daily activities is kept using the EDMS system as mentioned above. A report on the organizations activities can be obtained from their website as well as a book written by P. Tuson Records of Qatar: primary documents, 1820-1960; ed. P. Tuson. Archive edns, 1991. (8v) . Since any oil company poses numerous threats , benchmarks have been set to avoid them or reduce their occurance. Limitations have been set on their expansion, to share mproved ideas and information , maintain an unbreachable security checks and register them regularly. Workers undergo regular physical check-ups and their protective suits are also regularly scrutinized for emission penetration. There are also regular checks held by the government to ensure all the safety activities are being followed regularly. Qatar Petroleum is however not free from threats. Any oil company , Qatar being the biggest is susceptible to terrorist attack as the destruction caused will be massive , eading to a high death rate and heavy financial losses. Avoiding intrusion will be difficult as these companies are located by the sea and remote areas. The attack can be on refineries, distribution system, maritime transport , developmental and exploration sites. Oil companies pose their own threat too as any fault in the whole plant, being of the minutest nature, can lead to the same type of damage as would be caused by any terrorist attack.

Karakorum Genghis Khans Capital City

Karakorum (or the Karakorum and occasionally spelled Kharakhorum or Qara Qorum) was the capital city for the great Mongol leader Genghis Khan and, according to at least one scholar, the single most important stopping point on the Silk Road in the 12th and 13th centuries CE. Among its many architectural delights, said William of Rubruck who visited in 1254, was an enormous silver and gold tree created by a kidnapped Parisian. The tree had pipes which poured out wine, mares milk, rice mead, and honey mead, at the bidding of the khan. Key Takeaways: Karakorum The Karakorum was the name of the 13th century capital of Genghis Khan and his son and successor Ãâ€"gà ¶dei Khan, located in the  Orkhon valley of central Mongolia.  It was an important oasis on the Silk Road, which began as a city of yurts and gained a substantial population, a city wall and several palaces for the Khan beginning about 1220.  The Karakorum was cool and dry, and had trouble feeding its population of about 10,000 without importing food from China, which is one of the reasons that Ãâ€"gà ¶dei Khan moved his capital away from the site in 1264.Archaeological remains of the city are not visible on the ground but have been found deeply buried within the walls of the Erdene Zuu monastery. There is little to see at the Karakorum today that dates to the Mongol occupation—a stone tortoise cut in a local quarry as a plinth base is all that remains above ground. But there are archaeological remains inside the grounds of the later monastery Erdene Zuu, and much of the history of Karakorum lives on in historical documents. Information is found in the writings of Ala-al-Din Ata-Malik Juvayni, a Mongol historian who resided there in the early 1250s. In 1254 it was visited by Wilhelm von Rubruk (aka William of Rubruck) [ca 1220–1293], a Franciscan monk who came as an envoy of King Louis IX of France; and the Persian statesman and historian Rashid al-Din [1247–1318] lived in the Karakorum in his role as part of the Mongol court. Foundations Archaeological evidence shows that the first settlement of the Orkhon (or Orchon) River floodplain in Mongolia was a city of trellis tents, called gers or yurts, established in the 8th–9th century CE by the Uighur descendants of the Bronze Age Steppe Societies. The tent city was located on a grassy plain at the base of the Changai (Khantai or Khangai) mountains on the Orkhon river, about 215 miles (350 kilometers) west of Ulaan Bataar. And in 1220, the Mongol emperor Genghis Khan (today spelled Chinggis Khan) established a permanent capital here. Although it wasnt the most agriculturally fertile location, Karakorum was strategically located at the intersection of east-west and north-south Silk Road routes across Mongolia. The Karakorum was expanded under Genghiss son and successor Ãâ€"gà ¶dei Khan [ruled 1229–1241], and his successors as well; by 1254 the town had about 10,000 residents. City on the Steppes According to the report of the traveling monk William of Rubruck, the permanent buildings at the Karakorum included the Khans palace and several large subsidiary palaces, twelve Buddhist temples, two mosques and one eastern Christian Church. The city had an exterior wall with four gates and a moat; the main palace had its own wall. Archaeologists have found the city wall measured 1–1.5 mi (1.5–2.5 km) long, extending to the north of the current Erdene Zuu monastery. Major streets extended into the city center from each of the main gates. Outside the permanent core was a large area where Mongols would pitch their trellis tents (also called gers or yurts), a common pattern even today. The city population was estimated to have been about 10,000 people in 1254, but no doubt it fluctuated seasonally. Its residents were Steppe Society nomads, and even the khan moved residences frequently. Agriculture and Water Control Water was brought into the city by a set of canals leading from the Orkhon River; areas between the city and river were cultivated and maintained by additional irrigation canals and reservoirs. That water control system was established at the Karakorum in the 1230s by Ãâ€"gà ¶dei Khan, and the farms grew barley, broomcorn and foxtail millet, vegetables and spices: but the climate was not conducive to agriculture and most of the food to support the population had to be imported. The Persian historian Rashid al-Din reported that in the late 13th century the population of Karakorum was supplied by five hundred wagons of foodstuff freight per day. More canals were opened in the late 13th century but farming was always insufficient for the needs of the nomadic population which shifted constantly. At different times, farmers might be conscripted into fighting wars, and at others, the khans would conscript farmers from other locations. Workshops The Karakorum was a center for  metalworking, with smelting furnaces located outside the city center. In the central core were a series of workshops, with artisans making trade materials from local and exotic sources. Archaeologists have identified workshops specializing in bronze, gold, copper, and iron working. Local industries produced glass beads and used gems and precious stones to create jewelry. Bone carving and birchbark processing were established; and yarn production is in evidence by the presence of  spindle whorls, although fragments of imported Chinese  silk  have also been found. Ceramics Archaeologists have found plenty of evidence for the local production and importation of pottery. The kiln technology was Chinese; four Mantou-style kilns have been excavated so far within the city walls, and at least 14 more are known outside. Karakorums kilns produced tableware, architectural sculpture, and figurines. Elite types of pottery for the khan were imported from the Chinese ceramic production site of  Jingdezhen, including Jingdezhens famous blue and white wares, by the first half of the 14th century. The End of Karakorum The Karakorum remained the capital of the Mongol Empire until 1264 when Kublai Khan became emperor of China and moved his residence to Khanbaliq (also called Dadu or Daidu, in what is today modern Beijing). Some archaeological evidence suggests that occurred during a significant drought. The move was a cruel one, according to recent research: the adult men went to Daidu, but the women, children and elderly were left behind to tend the herds and fend for themselves. The Karakorum was largely abandoned in 1267, and completely destroyed by Ming dynasty troops in 1380 and never rebuilt. In 1586, the Buddhist monastery Erdene Zuu (sometimes Erdeni Dzu) was founded in this location. Archaeology The ruins of Karakorum were re-discovered by the Russian explorer N.M. Yadrinstev in 1880, who also found the Orkhon Inscriptions, two monolithic monuments with Turkish and Chinese writings dated to the 8th century. Wilhelm Radloff surveyed Erdene Zuu and environs and produced a topographic map in 1891. The first significant excavations at the Karakorum were led by Dmitrii D. Bukinich in the 1930s. A Russian-Mongolian team led by Sergei V. Kiselev conducted excavations in 1948-1949; Japanese archaeologist Taichiro Shiraishi conducted a survey in 1997. Between 2000-2005, a German/Mongolian team led by the Mongolian Academy of Science, the German Archaeological Institute and the University of Bonn, conducted excavations. The 21st-century excavations have found that the Erdene Zuu monastery was likely built on top of the Khans palace site. Detailed excavations so far have been focused on the Chinese quarter, although a Muslim cemetery has been excavated. Sources Ambrosetti, Nadia. Improbable Mechanics: A Short History of Fake Automata. Explorations in the History of Machines and Mechanisms: History of Mechanism and Machine Science. Ed. Ceccarelli, Marco. Vol. 15. Dordrecht, Germany: Springer Science, 2012. 309-22. Print.Eisma, Doeke. Agriculture on the Mongolian Steppe. The Silk Road 10 (2012): 123-35. Print.Heussner, Anne. Preliminary Report on the Ceramics of Chinese Origin Found East of the Old Mongolian Capital Karakorum. The Silk Road 10 (2012): 66-75. Print.Park, Jang-Sik, and Susanne Reichert. Technological Tradition of the Mongol Empire as Inferred from Bloomery and Cast Iron Objects Excavated in . Journal of Archaeological Science 53 (2015): 49-60. Print.KarakorumPederson, Neil, et al. Pluvials, Droughts, the Mongol Empire, and Modern Mongolia. Proceedings of the National Academy of Sciences 111.12 (2014): 4375-79. Print.Pohl, Ernst, et al. Production Sites in Karakorum and Its Environment: A New Archaeological Project in the Orkhon Valley, Mongolia. The Silk Road 10 (2012): 49-65. Print.Rogers, J. Daniel. Inner Asian States and Empires: Theories and Synthesis. Journal of Archaeological Research 20.3 (2012): 205-56. Print.Turner, Bethany L., et al. Diet and Death in Times of War: Isotopic and Osteological Analysis of Mummified Human Remains from Southern Mongolia. Journal of Archaeological Science 39.10 (2012): 3125-40. Print.