Tuesday, May 26, 2020

Using Endowment Essay Samples To Find Great Examples

Using Endowment Essay Samples To Find Great ExamplesIt can be hard to choose what to use as an example when writing an endowment essay. While there are a number of general topics to help you decide on the topic, one of the first steps is deciding on the type of sample essay that you want to write. There are many different types of examples that you can use, but the tips that follow will help you choose the best option.When it comes to choosing examples, it is important to find ones that are appropriate for your reading level. Finding materials that can be used at an intermediate or higher level will be easier as you increase your level of experience.Begin by finding examples of general topics. This can be difficult at first, but it is important to find something you can use as an example that you can find on your own. Make sure that you find something that you are comfortable with, and that you find an example that you will be able to use when writing your own essay.Once you have fou nd some endowment essay samples, it is time to make sure that they are relevant to your target audience. For example, if you are looking for reading material for a college entrance exam, then you might want to find examples that relate to general college topics. On the other hand, if you are looking for examples to use as a student or college guidance counselor, then you might want to choose topics that relate to your profession.By now, you should have chosen some endowment essay samples that you are more comfortable with. However, before you begin to write your essay, make sure that you are aware of what the sample outlines are. For example, in order to create an effective introduction to your essay, you will need to know the basic outline of the topic.By writing your introduction from a similar topic, you will be able to put together an effective introduction to your topic. In addition, this will help you set up your overall essay.As you can see, using endowment essay samples can be very helpful. Although it can be hard to narrow down your choices, you can find many samples to choose from.

Saturday, May 16, 2020

Smoking in the United States Essay - 942 Words

Smoking in the United States if cigarettes were banned in the United States, the government could apend the money currently used to pay medical bills, on more necessary causes. Instead of this money being used for diseases which were knowingly brought upon by the smoker him or herslf, this money could be used in finding a cure for diseases that are not preventable. Perhaps the saddest effect of smoking is that on pregnant smokers and their babies. When pregnant women smoke, their babies are being forced to smoke, too. many women begin smoking at an early age and find it hard to quit even during pregnancy. Information given from Health Watch discribes smoking as a harmful gas and deadly substance thats passes throughout babys blood†¦show more content†¦Many people who do not smoke so not enjoy being in a room where people are smoking. However, discomfort should be the least of their worries. Cigarette smoke carries carcinogens and other harmful substances. Many of these substances are poisons: tar, nico tine, carbon monoxide, arsenic, cyanide, and other deadly aubatances. Anyone exposed to secondhand smoke breathes in over four thousand chemical substances. Secondhand smoke kills 53,000 Americans each year. It is the third largest preventable cause of death . Only direct smoking and alcohol-related deaths rank higher,(Rumph 20). To demonstrate that nonsmokers are affected by the smoke, a study was done by the Americans for non Smokers Rights Foundation on children living in homes with parents who smoke. The study was compared with children living in homes with no smoking. The children living with smokers, had a ten percent lower amount of high density lipoprotein, which prevent against heart disease, as compared to children in non-smoking homes, (Rumph 20). Also, girls with parents who smoke have a lower ability to carry oxygen in the blood, while boys had a lower testosterone level than children living in non-smoking homes, (Houston 121). Although some progress has been made to r educe secondhand smoke in public places, it is not enough. There are no laws to protect people on the street or innocent children in their homes. The only way to protect innocent non-smokers is toShow MoreRelatedEffects Of Smoking On The United States1311 Words   |  6 Pagescigarette smoking is higher in the United States and kills more than 480,000 Americans each year (2015). In fact, cigarettes are harmful to smokers and nonsmoker, and the number of smokers rises day by day. Moreover, there are many harmful effects smoking has on an individual, such as heart disease, cancer, and the effect on nonsmoker and women, while it may cause an individual to feel relaxed, spend a lot of money and not be informed, it is harmful in the United States. The consequences of smoking areRead MoreEffects Of Smoking On The United States1570 Words   |  7 PagesWorld-wide efforts have increased to alarm people of the danger in consuming tobacco products, both first hand and second hand. In recent years, reports have proven a decline in smoking. However, there are still millions of people that smoke in the United State of America. As a result, the effect of smoking has become a major health risk. According to the Centers for Disease Control and Prevention (CDC), tobacco use is the leading preventable cause of death, disease, and disability in the USRead MoreSmoking in the United States Essay1286 Words   |  6 PagesSmoking is on the rise with adults and teenagers. Nearly twenty-one percent of adults smoke cigarettes, and twenty percent of teenagers smoke in the United States of America. Smoking has many negative effects, but also a few positive effects. However, the positive effects are outweighed by the negative effects. In June 19, 1986, anti-smoking activists were trying to pass a bill in New York that would restrict smoking in restaurants and other public areas, the first major action ever taken by NewRead MoreUnderage Smoking And The United States Essay1518 Words   |  7 PagesUnderage Smoking in the U.S. Shockingly, there are 3.5 million middle and high school students smoking cigarettes in the U.S. (Leatherdale Vu, 2011). As we all know, smoking is a horrible habit which affects many of the body’s systems such as the circulatory and immune systems. Underage smoking is an even more serious problem as it affects teenagers’ health and influences more young people to smoke, stopping it is possible with a good tracking system (Qi, 2015). The most obvious problem of underageRead MoreEffects Of Smoking On The United States905 Words   |  4 PagesPrevention (CDC), smoking kills more than 480,000 in the U.S. each year. In order to reduce this statistic, numerous controlling strategies are adopted by the government, which includes a limitation of tobacco advertising, and the prohibition of smoking in public areas. Meanwhile, several people are suffering from health issues caused by consumption of cigarette. It increases the risk of cancer, heart disease and stroke. These three diseases are the leading causes of death in the United States (Taylor 8)Read MoreEffects Of Smoking On The United States976 Words   |  4 PagesSmoking Smoking, the drug killer number one is everywhere at this time, even government and enough information, which we can get almost everywhere cannot stop some young people. What forces young people to smoke? Why they risk their health just for cigarettes. Is it the addiction what make them smoke, or it is a societal pressure, or it is something else ? The second important question is that, what is the major and minor effect of smoking. I have many experiences with smoking, because using of thisRead MoreEffects Of Smoking On The United States1841 Words   |  8 PagesIn the United States, tobacco use is the number one cause of preventable death. Chronic cigarette smoking is associated with many adverse health effects and 70% of adult smokers started smoking when they were adolescents. The World Health Organization’s definition of adolescence is a period of development that corresponds to the period between the ages of 10 and 19 years. This age group is vulnerable to initiate risk y behaviors such as cigarette smoking. According to the Surgeon General’s reportRead MoreEffects Of Smoking On The United States2439 Words   |  10 PagesIn the United States, tobacco smoking is by far the leading cause of lung cancer, which includes non-small cell lung cancer. About 80% of lung cancer deaths are caused by smoking, and many others are caused by exposure to secondhand smoke. Smoking is clearly the strongest risk factor for non-small cell lung cancer, but it often interacts with other factors. Smokers exposed to other known risk factors such as radon and asbestos are at even higher risk. However, not everyone who smokes gets lung cancerRead MoreEffects Of Smoking On The United States871 Words   |  4 PagesPathogenic role of smoking has been proved by many researchers in the world and in our country. Smoking 01 cigarettes himself losing 5.5 minutes of life. The average life expectancy of people who smoke less than non-smokers from 05 to 08 years. Smoking in creases the mortality rate from 30 to 80%, mainly because of cancer (lung cancer), chronic obstructive pulmonary disease, cardiovascular disease.... The degree of increased risk depends on the age of starting smoking (smoking as soon as the higherRead MoreEffects Of Smoking On The United States1026 Words   |  5 Pagescigarettes have has declined from 20.9% in 2005 to 16.8% in 2014. The evidence also suggests that smoking was noticeably ln 2014 than in 2013. Sources reported that tobacco is the leading cause of preventable disease and death. Another essential point is that it kills 28,000 people every year in New York and afflicts nearly 600,000 residents with serious injuries directed to their smoking. In addition, smoking kills half a million Americans every year and costs about $300 billion dollars a year. Considering

Wednesday, May 6, 2020

Questions On Mathematics And Physics - 1331 Words

Liu 1 Hilary Liu Dr. Goldader Honors Physics September 8, 2014 Chapter 1 Homework Answers 1) Why is mathematics important to science, and especially to physics? Mathematics is important to science, and especially to physics, because mathematics are a very precise form of communication. When models are based on scientific findings in nature are expressed mathematically, they are easier to verify or disprove by experiment. When the ideas and models of science are expressed in mathematical terms, they are unambiguous. The equations of science provide compact and exact expressions between relationships and concept. The methods of mathematics and experimentation have led to enormous successes in science. 2) What are the steps of the†¦show more content†¦-SQUIRREL! Trial and error, experimentation without prior guessing, and accidental discovery account for much of the progress in science. The success of science has more to do with an attitude of inquiry, experimentation, and humility than with a particular method. 4) What is a model, as the term is used in science? A model is, as the term is used in science, is the description of a natural phenomenon, usually a mathematical equation. Models attempt to describe what nature does, and therefore nature does not follow our models. The more complex a model is, the more accurately it described a phenomenon, but no model is ever really complete. Because a model is just a description of how nature works, models can be revised when new data is obtained or somebody comes up with a better idea. This is how science progresses. Sometimes even very successful models just fail and have to be replaces with new ones that can better explain nature. Liu 2 5) Your textbook that scientific laws or principles can be contradicted. Can a fact, as defined in your book, also be shown to be false? If so, give an example. A fact, as defined in the book can be shown to be false. In science, a fact is a close agreement by competent observers who make a series of observations of the same phenomenon. Many believe that facts are concrete, that they are general knowledge that cannot be disproven or otherwise, but a fact, as defined in the

Tuesday, May 5, 2020

War Simulation Softwar Essay Example For Students

War Simulation Softwar Essay Computer Simulation WARSIM 2000 is simulation software, used by the armed forces. Extensive, thorough, and tiring work has been done on thgis program. It covers almost all aspects and situations required for realistic, meticulous and a complete simulation. Information Technology has lead to the advancement of the tools required to build the simulator. Information Technolgys guideleines and technolgy have reinforced this creative simulator General Description of Operational Capability. WARSIM 2000 will increase the effectiveness of commander and battle staff training by dramatically increasing the realism and the scope of the available training environment. In conjunction with other services simulations, WARSIM 2000 will provide a complete operational environment with scenarios drawn from the entire operational continuum to support Army, joint and coalition force training distributed across the globe. a. The WARSIM 2000 simulation system will use a computer-based simulation and associated hardware to support the training of unit commanders and their battle staffs from battalion through theater-level as well as to support training events in educational institutions. Designed and built using modern computer technology, modern software engineering techniques, and validated algorithms and databases, it will allow units world-wide to train using their organizational equipment. A key feature of the system will be its use of technology to minimize the total Armys overhead associated with supporting training. The system will be designed to meet emerging Distributed Interactive Simulation (DIS) standards and protocols to facilitate linkages with DIS compliant simulators and live training events. b. The WARSIM 2000 simulation system will consist of, or use, several components: (1) Computer-based battle simulation models that portray the joint and combined environment needed to support Army training events. (2) Software modules for linking WARSIM 2000 to other simulation models to expand the training environment for joint force training exercises. (3) Databases. (4) Computer systems to run the simulation models and support the databases. (5) Technical control systems/workstations for use by personnel in an exercise support function e.g., simulation controllers, analysts, and opposing/ surrounding forces role players. (6) Flexible and responsive terrestrial/satellite communications gateways and media for transmitting voice, data, facsimile, and video between different elements at remote locations involved in supporting a training exercise. c. WARSIM 2000 will meet the Mission Need Statements (MNSs) requirement for providing a training environment that will allow unit commanders and battle staffs to focus their warfighters and systems in countering threats across the operational continuum. WARSIM 2000 must provide an environment that presents problems to stress and stimulate commanders and their battle staff to assess the situation, determine courses of action, and plan and issue new orders in a timely manner, all while using their organizational equipment and procedures. d. Logistical support for WARSIM 2000 will be based on a government- owned contractor-supported system. The government will own necessary hardware, have all proprietary rights to the developmental hardware and software components, and full license rights to the non-developmental software components of WARSIM 2000. Contracted logistical support will provide for the maintenance of government-owned computer hardware at all times. e. The acquisition and development strategy for WARSIM 2000 must abide by several constraints. (1) The WARSIM 2000 acquisition must build upon the successful infrastructure of current simulations so that the training community (Army and international) can train in an evolutionary progressive yet consistent manner. The Army has invested significant resources into developing its training simulation systems, linking them with other service simulations via the Aggregate Level Simulation Protocol confederation, and proliferating them throughout the Army and the international community. While these systems have shortcomings that must be fixed, they provide a training environment and representations of combat that have been accepted by the training community world-wide. The WARSIM 2000 acquisition must allow the confederation of simulations structure to evolve in a manner that allows current users (Army and international) to maintain access to the confederation without having to make a substantial near-term investment in resources. (2) Meeting the WARSIM 2000 requirements will demand significant technological innovations. However, there are many existing and developing systems that could and should be part of the overall solution. The acquisition strategy must ensure that developers optimize the investment of each service in existing systems (instead of starting from a blank sheet of paper) and insert echnology into the training environment in a way that improves training. (3) Fielding of new capabilities, whether they be functional representations or technological enhancements, must be either practically transparent to the user or be accompanied by training so the user can understand and receive the benefit of the new capabilities. (4 The acquisition strategy must allow for regular user involvement in the development process. User evaluations and requirements must serve as a primary source for determining changes to the system. 2. Performing and Visual Arts Persuasive Essay (ii) Fidelity. The simulation must allow commanders and battle staffs to do their tasks under the conditions and standards outlined in the Army Training and Evaluation Program Mission Training Plans (MTPs) for command groups and staff referenced in Appendix 1 to Annex A. (iii) Level of Detail. The simulation must be able to portray a level of detail that captures the effects of individual entities on the battle, e. g., single weapon platform, emitter, and sensor systems. Entities that operate near each other as cohesive units can be portrayed in aggregated units from team to battalion that represent the normal mode of employment. Individual, low-density, entities that operate in a geographically dispersed mode must be portrayed as they are employed, e. g., signal nodes, radars, jammers, missile and rocket systems, engineer obstacle systems, and individual surveillance and laser designation systems. All systems will be portrayed using performance data appropriate to the level of classification of the exercise. (iv) Reports. The simulation must provide feedback to the training unit by sending reports of simulated events. These reports must be formatted in a doctrinally correct fashion and occur in a time-appropriate banner. The reports must not reveal all of ground truth but reflect that information that the simulated unit would reasonably know given its status, time removed from the reported incident, and deployed intelligence assets. (v) Human Factors. The simulation must portray the effects of operations on the human condition as it relates to combat effectiveness. At a minimum, the simulation must consider unit morale and cohesion, time subject to hostile actions, availability of religious support, unit attrition rate over time, weather, and operational tempo. (vi) Simulated Mistakes. The simulation must cause simulated entities to make mistakes based on a predetermined level of training and a variable combat effectiveness determined by human factors . The mistakes should be of two types: mistakes in actions taken and mistakes in actions reported. Mistakes in actions taken fall along the lines of getting lost e.g., arriving at or attacking the wrong location, delivering the improper quantities of supplies, or delivering the wrong supplies. These types of mistakes will change the ground truth of the simulation. Along with reports that are accurate but incomplete, other reports will contain information that is different from ground truth. These mistakes in reporting will occur when a simulated unit makes a report to the training unit that conflicts with ground truth in the simulation. These mistaken reports will not change ground truth. The simulation must have the ability to provide the correct information if challenged for confirmation. The level of training and combat effectiveness must change over exercise time with a corresponding change in the number of mistakes. The senior trainer must have the capability to cause a simulated unit to make specific mistakes during the exercise. The senior trainer must be able to easily adjust the severity and frequency of simulated mistakes during an exercise to include being able to set the level to zero, in effect turning off the mistakes. The senior trainer and the After Action Review systems must have access to both ground truth and mistakes data. (vii) Surrounding Units. Training units, to include combat, combat support, and combat service support units that support maneuver brigades, must be able to interact with the simulation without the presence of any other units. This will require the simulation to emulate forward, flank and rear units, supported and supporting units, as well as the next higher and lower echelon units, that would normally exist on the battlefield, but are not present for the particular training event. The simulation must be able to portray dynamic scenario and event dependent intelligence and reports concerning the activities of these units as well as their requests for information and resources from the training units. (viii) Multi-Level Input/Output. The simulation must be able to accommodate an exercise where different levels (division, igade, battalion) are interacting with the simulation. Each level must be able to train using the simulation by issuing only its normal orders and instructions to the simulation while receiving only its normal reports and data from all sources. The simulation must receive and present its information in the format and level of detail appropriate to the training unit. The simulation-provided information must not always be 100 percent accurate. The information should at times contain errors that one could expect to obtain in a realistic setting. Bibliography: WARSIM 2000, The Few, The Proud, The. .. hey theyre not there! Article #45, SIRS Encyclpaedias, Applied Science, 1994.Technology

Thursday, April 16, 2020

Perks Of Being A Wallflower Essays - Mental Illness In Fiction

Perks Of Being A Wallflower I really enjoyed reading the book. I liked the way it was written pretty much. Charlie's letters are as intimate as a diary as he shares his day-to-day thoughts and feelings. You can somehow really get to know the narrator - Charlie - and you feel like he is writing all these letters to you. That is very interesting. Yet there are somewhat unrealistic tones, which I noticed some time after reading the book, because my first impression was how incredibly realistic it was. Charlie is only portrayed as the nice, innocent teenager. He does some things wrong, but in the end is near perfect. Even though he is screwed up, your compassion for Charlie is overwhelming, and you seem to forget that the book does not seem that real. Besides, in my opinion some of the letters are too "bookish". However I still think the book is insightful, true and pretty sad. 2. The language was colloquial and very easy to understand. 3. There are lots of impressing parts, but the one I liked most is when Charlie is telling a poem at a Christmas party to all his friends. I loved the poem because it is that sad but, however, true, I think. It is about growing up and how things change when you are not anymore the lovely little child but have become a young adult. In my opinion it is written in a very sad, nevertheless nice way. Later on Charlie finds out the poem was written by a boy just before he killed himself. He feels really sad about this. 4. "The perks of being a wallflower" is the story of what it is like to grow up in high school. Charlie, a 15-year-old freshman, is writing letters who cover his first year in high school to an unknown person. Charlie encounters the same struggles that many kids have to face in high school - how to make friends, family tensions, a first relationship, experimenting with drugs - but he also has to deal with his best friend's recent suicide. With the help of a teacher who recognises his intuition , and his two older friends, the seniors Patrick and Samantha, Charlie begins to be contented with his life. Yet not for a long time - depressed when all his friends prepare for college, Charlie has a catatonic breakdown, which resolves itself neatly and reveals a long-repressed truth about his Aunt Helen. Nevertheless, he makes it back in due time, ready to face his sophomore year and all it may bring. 5. In this book there is not really a climax because Charlie only tells about his life. Though there happen several important things that change his life a lot. One of them is when Charlie's first relationship with Mary-Elizabeth, a good friend of Sam, ends miserably because Charlie remains compulsively honest about the fact that he truly loves Sam and not Mary-Elizabeth. That hurts Mary-Elizabeth very much, and somehow the whole group of his friends more or less does not want to see him for about one month. By the time Charlie realises how he did Mary-Elizabeth wrong and endangered the friendship of Sam and her. He starts to see how much his friends really mean to him and how much he needs them. Charlie remembers the beginning of the year, before he got to know Sam and Patrick, and how lonely he felt then - so lonely that he started writing letters to an unknown person. He finds out what friendship really means. That was very impressing and I really could empathise with Charlie. 6. The ending really took me by surprise. You could see from Charlie's letters that he was emotionally unstable, yet I never thought he would have such a breakdown and have to go to hospital for two months. 7. I think Charlie was in some way like me. I did not dislike anyone of the characters, they were all pretty sympathetic, I think. Charlie: Charlie is the third child in a middle-class family. His older brother plays football at Penn State and his older sister worries a lot about boys. Charlie attends high school, he is a freshman and by no means popular. He is a shy boy, introverted and easily influenced. Patrick and Sam think he is a wallflower. He is also very na?ve and honest, which makes him a lot of problems later on. Charlie is a thinker, but he thinks too much, which sometimes leads to

Friday, March 13, 2020

Financial Analysis of Pakistan International Airlines Essays

Financial Analysis of Pakistan International Airlines Essays Financial Analysis of Pakistan International Airlines Essay Financial Analysis of Pakistan International Airlines Essay Submitted by Chemical Engineer Adnan Khalid Submitted to : Dr rashid Ahmed Institute Of Business and Management, UET, Lahore. PAKISTAN INTERNATION AIRLINES Back ground and History Airline Industry General Environmental Analysis The airline industry is very stable and unlikely to change in the near future. There are many reasons for this. Air travel continues to grow and will continue in this fashion as long as the economy stays in an upward trend. US domestic air traffic grew 2. 3% in 1999 and 3. 5% in the first six months of 2000 according to Air Transportation Association. The percentage of flyers has increased an average of 2% each year and the percentage of people who have ever flown before increased from 73% in 1993 to 81% in 1997. (Airport Transport Association, Internet). The top three reasons that people fly are business trips (47%), visiting relatives (38%) and going on vacation (13%). Most airline revenues are gained from the fares they charge these passengers, but they also earn ancillary revenues from transporting mail, shipping freight, selling in-flight services and from serving alcoholic beverages (Airport Transportation Association, Internet). The primary target market of airline passengers today is the business traveler because business trips account for the majority (47%) of airline flights. Airline industry has been subject of intense price competition since it was deregulated, and the result has been a number of new carriers which specialize in regional service and no-frills operations. These carriers typically purchase older aircraft and often operate outside the industry-wide computerized reservations system. In exchange for these inconveniences, passengers receive low fares relative to the industry as a whole. This research examines two low fare air carriers, ValuJet and Southwest Airlines. By investigating these air carriers, we can better understand the economic impacts of price versus service in the airline industry as a whole, as well as, the impacts on passenger and investor confidence. Until 1978, air transport rates were approved by the government, which meant that price was not a primary competitive factor. Instead, airlines would compete on service and image. : The airline industry was dominated by giants (American, United, and TWA) which offered nationwide and some international service, and by regional carriers, such as Southwest, which offered short trips between airports not served by the nationals. 1 MARKET INFORMAITON DIRECTORS REPORT TO THE SHAREHOLDERS The Directors are pleased to report that the airline has earned a pre-tax profit of Rs. 1. 5 billion in the first quarter of 2003 as against a profit of 1. 1 billion in the first quarter of 2002. Total revenue for the quarter amount 13. 05 billion as against Rs. 197 billion in the corresponding quarter showing an over all increase of 9% over the same period last year. Expenses for the current quarter amounting to Rs. 11. 07 billion indicate an increase of 8% over Rs. 10. 2 billion expenditure last year. This is mainly due to increase in fuel prices in the international markets and an ad hoc provision for increase in employees salaries and allowances. Issue of Term Finance Certificates (TFCs) As reported in the Annual Report 2004 the airline launched Term Finance Certificates (TFCs) for Rs. 15. 14 billion in February 2004. The issue was the largest in the history of Pakistan financial market. Despite the size, the issue was over subscribed up to the extent of 40% showing confidence in the policies followed by the airline Management. The airline has utilized the money wised through TFCs to pay off bridge financing of Rs. 7. 73 billion borrowed earlier. The airline has also liquidated its liabilities towards employees fund over due creditors amounting to Rs. 4. 27 billion Market Development In the first quarter the airline has increased passenger capacity by 10% over same period last year. In the international markets passenger capacity has been increased by 6% and domestic markets by 8%. Capacity for Hajjis for Hajj 2003. This year airline was successful in operating Hajj flights for 108,000 Hajjis as compared to 91,000 in 2002. The airline achieved passenger growth of 7% in the first quarter of 2003 over the same period last year. Increase in the international as well domestic markets excluding Hajj was up to the extent of 4%. The airline has also been able to float excess cargo capacity and increase its utilization. Cargo capacity was increased by 9 % whereas its utilization was 23% over last year the same quarter. PIAS SUBSIDIARIES + ASSOCIATED COMPANIES PIAS SUBSIDIARIES 1. 2. 3. 4. 5. 6. PIA Holdings (Pvt. ) Limited Duty Free Shops Limited International Advertising (Pvt. ) Limited Skyrooms (Pvt ) Limited Airport Hotel, Karachi Airport PIA Shaver Poultry Breeding Farms (Pvt) Limited Midway House (Pvt. ) Limited Hotel Midway House, Karachi Airport ASSOCIATED COMPAN IES (Overseas) 1. 2. 3. 4. PIA Investments Limited Minhal incorporated Pakistan Pakistan Services Limited Pakistan Tourism Development Corporation Limited. 3 PIA Domestic Route Map 4 WEIGHTED AVERAGE COST OF CAPITAL Capital Assets Pricing Model CAPM is a model based on proposition that my stocks required rate of return is equal to the risk free rate of return plus a risk premium, where risk reflects diversification. Portfolio Returns: The expected return on a portfolio k^p is simply the weighted average of the expected returns on the individual stocks in the portfolio, with the weights being the fraction of the total portfolio invested in each stock K^p = W1K^1 + W2K^2 + W3K^3 + - + WnK^n The portfolio return of Askari Bank is as follows K^p = 0. 16(88. 67%)+ 0. 16(1. 4%)+ 0. 16(7. 2%) + 0. 16(2. 716%) = 15. 9 % 5 Correlation Co-efficient (r): A measure of the degree of relationship between the two variables The stock will be perfectly negative correlated when one stock move up and other stock or security move down, move in the opposite direction R = -1. 0 Perfectly positively correlated stocks would move up and down altogether R = +1. 0 Cost of Debt Financing Debt financing is when a creditor decides to loan funds in exchange for reimbursement in the future with accumulated interest. Debt financing is generally considered smart because debtors to not surrender any ownership interests in their business. Debt financing comes in two forms, secured and unsecured A secured loan is an agreement to pay the debt back at a later date. If the debtor ever defaults on the loan agreement, then the creditor can recover their money by confiscating the property or asset used to secure the debt. An unsecured loan is also a promise to payoff a debt. An unsecured loan differs from a secured loan because u don’t have to grant the creditor interest in any specific property to support the promise. In case if bankruptcy, the unsecured creditor is frequently the last to be paid if the borrower runs into difficulties. 6 Cost of Debt financing In Pakistan Outside Pakistan 006 15,532,870 370,185 15,903,055 2005 11,038,399 422,535 11,460,934 Particulars of borrowing from financial institutions In local currency In foreign currency 15,532,870 370,185 15,903,055 11,038,399 422,535 11,460,934 Details of bowering from Financial Institutions In Pakistan local currency Secured Borrowing from State bank of Pakistan under export refinance scheme Unsecured Call borro wings 90,000 15,532,870 220,000 11,038,399 7,328,515 8,114,325 3,392,329 7,426,070 Outside Pakistan – foreign currency Overdrawn accounts unsecured 370,185 15,903,055 422,535 11, 460, 93 7 Cost of Equity Financing Equity financing employee’s stock ownership plans. The company issues stocks to get the money. In return the company gives dividends and interest to them. Authorized Capital 150,000,000 ordinary shares of Rs. 10 each 2006 1,500,000 2005 1,500,000 Issued, subscribed paid up 67,500,000 ordinary shares of Rs. 10 each issued for cash 675,000 675,000 46,667,943 ordinary shares of Rs. 10 each issued as fully paid Bonus shares 466,680 1,141,680 412,314 1,087,314 GROWTH ANALYSIS OF PIA 8 TOTAL ASSETS Rupees in million 90,000 80,000 70,000 60,000 50,980 50,000 40,000 30,000 20,000 10,000 0 70,313 5,387 Assets 2004 2005 2006 Total assets of PIA in 2004 were 50,980 million which increased to 70,313 million in 2005 which further increased to 85,387 million in 2006. The growth rate was about 38% in 2004and was about 21. 44% in 2006. TOTAL LIABILITIES 9 Rupees in millions 90,000 80,340 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 48,402 66,140 Liabiliies 2004 2005 2006 Liabili ties in 2004 were 48,402 which increased to 66,140 in year 2005and they further increased to 80,340 in year 2006. The growth rate in 2005 was 36. 65% and in 2006 it was about 21. 50 %. Although there is increase in liabilities in these three years but the growth rate reveals that as compared to 2005 the percentage increase is quite low in 2006. SHAREHOLDERS’ EQUITY Rupees in million 10 1,160 1,142 1,140 1,120 1,100 1,080 1,060 1,040 1,020 1,000 980 1,036 1,087 Equity 2004 2005 2006 Shareholders’ equity in 2004 was 1,036 and there was a slight increase in 2005 up to 1,087. The equity increased to 1,142 in 2006. The growth rate shows 4. 92% increase in 2005 and about 5. 06% increase in 2006. The percentage increase in 2005 is more than the percentage increase in 2004. NET INCOME 11 Rupees in Million 1200 1000 800 600 400 200 0 2004 2005 551 687 1,103 Net income 2006 Net income means the income or the profit available to shareholders after taxation. Net profit in 2004 was 551 which increased to 24. 68% i. e. to 687 in 2005 and 60. 55% i. e. 1,103 in 2006. OPERATING INCOME 12 Rupees in million 2,000 1,500 1,244 1,000 500 0 2004 2005 1,008 1,902 Operating income 2006 Operating in come means earnings before interest and taxation (EBIT). EBIT in 2004 was about 1,008, in 2005 it was about 1,244 and in 2006 it was about 1,902. Growth analysis reveals 23. 1% increase in earnings in 200 and 52. 89% in 2006. 13 EARNINGS PER SHARE Figures in Rupee 10 9 8 7 6 5 4 3 2 1 0 9. 66 6. 32 5. 3 Earnings per share 2004 2005 2006 EPS= NP / Numbers of equity share Earnings per share (EPS) in 2004 were 5. 3 which increased by 19. 24% in 2005 and 52. 85 % in 2006, which is due to 60. 55 % boost in the net profit in year 2006. 14 TAXATION Rupees in Million 800 700 600 500 400 300 200 100 0 2004 2005 458 557 799 Taxation 2006 Taxation in 2004was 7, 99 which is 43. 45 % more than 2005. And taxation in 2005 was 557 which was 21. 62 % more than 2006. The increased rate of axation is due to increase in net profit. 15 RATIOS OF PIA Liquidity ratio CURRENT RATIO = CURRENT ASSETS CURRENT LIABILITIES = 4. 48 TIMES = 4. 18 TIMES 2004 2005 This ratio shows that the current ratio of PIA decline and the difference of 0. 3 comes up . DEBT MANAGEMENT RATIOS DEBT RATIO = TOTAL DEBT TOTAL ASSETS 2004 2005 = 17. 8 % = 20% The debt includes both current liabilities and long term debt . This debt ratio shows that PIA has taken more loans as compared to previous year. TIMES INTEREST EARNED (TIE) RATIO = EBIT INTEREST CHARGES 16 2004 2005 = 1. 36 times = 2. 98 times The TIE ratio measures the extent to which operating income can decline before the firm is unable to meet its annual interest costs. PROFITABILITY RATIO Profitability is the net result of a number of policies and decisions . The profitability ratios show the combined effects of liquidity, assets management and debt management on operating results. BASIC EARNING POWER (BEP) = EBIT TOTAL ASSETS 2005 2006 =2. 1 % = 2. 79 % This ratio shows the raw earning power of the firm’s assets before the influence of taxes and leverage and it is useful for comparing AIRLINE with different tax situations and different degrees of financial leverage. There is increase in earning power ratio because in 2005 it was 2. 1 percent which in 2006 increased to 2. 79 percent. RETURN ON TOTAL ASSETS = NET INCOME TOTAL ASSETS 17 2005 2006 = 1. 1% = 1. 4 % RETURN ON COMMON EQUITY = NET INCOME COMMON EQUITY 2005 2006 = 20. 3 % = 23. 9 % The return on the total assets and common equity has increased . MARKET VALUE RATIOS PRICE / EARNING (P/E) RATIO = PRICE PER SHARE EARNINGS PER SHARE 2005 2006 = 4. 46 TIMES = 5. 33 TIMES 18 RATIOS OF PIA Liquidity ratio CURRENT RATIO = CURRENT ASSETS CURRENT LIABILITIES = 2971418 1171755 = 2. 53 TIMES . AEROASIA current ratio is below average . Its liquidity position is relatively weak . DEBT MANAGEMENT RATIOS DEBT RATIO=TOTAL DEBT TOTAL ASSETS = 13589590 67328388 = 20. 1 % TIMES INTEREST EARNED (TIE) RATIO= EBIT INTEREST CHARGES =10 TIMES. The AEROASIA is covering its interest charges by a high margin of safety. 19 PROFITABILITY RATIOS BASIC EARNING POWER (BEP)= EBIT TOTAL ASSETS = 153588 2608454 = 5. 8% RETURN ON TOTAL ASSETS = NET INCOME TOTAL ASSETS = 669447 67328 = 9. 9 % The AEROASIA return on total assets is perfect. RETURN ON COMMON EQUITY = NET INCOME COMMON EQUITY = 669447 4125711 = 16. 2 % 20 MARKET VALUE RATIOS PRICE / EARNING (P/E) RATIO= PRICE PER SHARE = 10 EARNINGS PER SHARE 2. 63 = 3. 8 TIMES. CORPORATE ACHIEVEMENTS FOR ACBL Winning isnt everything, its the only thing. Amidst tough competition, our efforts to go an extra mile in providing superior services to our customers have been acknowledged at the national as well as international levels. These acknowledgements serve as a great source of encouragement and appreciation at one hand and inspire us to perform even better, on the other. PIA has been honored with the THE BEST AIRLINE 21 Common size balance sheet For the years Ended December31,2005and2006. DESCRIPTIONS 2005 % Assets: Cash and balances with treasury banks Balances with other banks Lendings to financial institutions Investments Advances Other Assets Operating fixed Assets Defferred tax assets Liabilities: Bills payables Borrowings from financial institutions Deposits and other accounts Sub-ordinated loans Liabilities against assets subject to lease Other liabilities Deferred tax liabilities Net Assets Represented by: Share capital Reserves Unappropriated profit Surplus on revaluation of assets- net of tax Note: Percentages are calculated by taking group total as base . . 82% 3. 10 6. 75 25. 80 52. 44 1. 67 2. 31 1. 21 19. 75 76. 74 0. 040 1. 190 1. 007 2006 % 7. 59% 1. 85 4. 85 38. 02 42. 7 2. 58 2. 36 0. 91 17. 32 78. 21 0. 0024 1. 493 1. 96 22. 62 54. 67 22. 65 26. 05 46. 47 27. 40 22 Common size profit and loss account For the years Ended December31, 2005and2006 DERIPTIONS 2005 % Mark up/ return/ interest earned 170. 76% Mark up/ return/ interest expense 57. 8 Net mar k up/ interest income 112. 53 Provisions against non performing loans and 12. advances Provisions for diminution in the value of investments 100 Bad debts written off directly Net mark up / interest income after provisions 21. 95 Non mark up /interest income: 1. 57 Fee, commission and brokerage income 4. 72 Dividend income 11. 67 Income from dealing in foreign currencies 39. 97 Other income Total non markup/interest income 60. 20 Non mark up/ interest expense: Administrative expenses 0. 051 Other provisions/ written offs 60. 25 Other charges Total non mark up/ interest expenses 36. 2 Profit before taxation: Taxation – current (3. 16) prior year`s deferred Profit after taxation: 46. 23 Unappropriated profit b/f Profit available for appropriation Appropriation: 9. 24 Transfer to: 9. 57 Statutory reserves 4. 70 Proposed cash dividends (Rs 2 per share) 22. 63 Capital reserves(reserves for bonus shares issuance) Revenue reserves Note: Earnings per share has increased by 62% as compared with previous year. And percentages are calculated by taking net mark up/ interest income as 2006 % 325. 5% 202. 6 123. 53 23. 5 0. 002610 100 27. 97 1. 80 12. 20 14. 77 56. 75 73. 15 0. 143 73. 25 29. 50 8. 060 46. 009 9. 21 14. 50 3. 23 19. 05 23 Conclusion Although there is a NOW A LOT OF COMPETITION IN AIRLINES BUT EVEN THAN IN PAKISATN PIA IS LEADING AIRLINE It is successfully achieving its targets and that is the main reason that this airline is growing day by day and doing a profitable business. They should provide good services to their costumers. Better food Re commendations 24

Tuesday, February 25, 2020

The Vost Inspirational leader in the Coca-Cola Company Assignment

The Vost Inspirational leader in the Coca-Cola Company - Assignment Example This research tells that the most inspirational leader in the Coca-Cola Company is the human resources manager. The most important inspirational characteristics of a leader that he demonstrates are several, many of which are based on ethics. He demonstrates responsibility in making sure that moral standards and ethical conducts of the company are adhered to. His leadership becomes more inspirational because he strives for competence in following the company’s rules as well as striving at positively transforming people as well. He is honest and transparent in all his dealings and also seeks to correct those who are under his leadership whenever they seem to be moving away from the desired goals. This makes most of his team members, from all the other company branches to consult with him before taking any major decisions. His honesty in all his undertakings makes us all feel inspired to act like him. In as much as he is goal-oriented, he is people-oriented as well. He also never uses his power as a human resource manager to serve his own interests, but for the good of others and the company at large. Authenticity is an attribute that the Human Resources Manager in my place of work that he demonstrates without compromise. He is genuine, which makes the employees want to believe and trust in him. According to different answers from â€Å"the development of a new transformational leadership questionnaire’’, when leaders break promises or fail to honor commitments, they reveal themselves as being inauthentic thereby losing credibility. The Human Resources Manager has won my trust as an inspirational leader because he undoubtedly understands that trust rests upon a foundation of authenticity, whereby to gain trust he must consistently align words and deeds while showing a degree of transparency.