Analysis Of `` Savage Inequalities `` By Jonathan Kozol Essay

Martin Luther once said, â€Å"When schools flourish, all flourishes.† Schools are the institutions where students’ foundations for lifelong success are built. One would think, or at least hope, that sixty years after the Brown v. Board of Education decision, all schools in America would be flourishing or near flourishing. How wonderful would it be, if politicians and other people in power realized how true Martin Luther’s words were. Unfortunately, this is not the case. As Jonathan Kozol explicitly depicts in his 1991 novel, Savage Inequalities, inequality in American public schools still exists despite segregation being outlawed. Even though this book was written twenty-five years ago, it still applies to this day. There are many schools in America that are still segregated, and the complete opposite of flourishing. This is due to one main reason: inadequate funding. There is a tremendous amount of inequality in funding between the poor, city schools, and the a ffluent, suburban schools. Kozol explores these various schools in his novel, and demonstrates how by underfunding schools that are in dire need of funds, we are essentially setting up our future generations for failure. We are inhibiting them from reaching their potentials and showcasing their talents. We ourselves are ripping their chances of a bright future out of their hands. We are allowing our society to believe segregation in schools is ok. Savage Inequalities explores three mainShow MoreRelatedSavage Inequalities By Jonathan Kozol986 Words   |  4 PagesIn Savage Inequalities, Jonathan Kozol documents the troubling inequalities within American public school systems and their various districts. Thus focusing on the â€Å"savage inequalities† between highly privileged districts and poor districts within these public school systems. 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Sport And Peace Development Goals - 1515 Words

Introduction Sport, over the years, has been used as a gateway for peace during troubling times. It’s important to note many of the core values in sport, such as fairness, discipline, and respect for the rules and others participating, are key players in the overall goal to attaining peace. According to the United Nations, those intrinsic values can help promote both the social cohesion of multiple organizations and the idea of a peaceful coexistence. The group also mentions that sport cannot be the sole contributor of change; however, it serves as a good stepping stone for conflict resolution (Un.org, 2015). The United Nations has created a set of goals, millennium development goals, which list their plans to use sport as a way to build peace (Beutler, 2008). An interesting view on sport and peace development is looking at the Cross Cultures Project Association. The CCPA is a humanitarian organization with headquarters in Bosnia-Herzegovina. The CCPA has three major sport programs for various people in countries where a conflict has just ended. Their main focus is to develop and organize programs that promote social integration between various cultures. The programs are designed to provide the community with peaceful alternatives to their country s violent issues (Cross Cultures Project Association | CCPA, 2015). One program is entitled â€Å"Open Fun Football Schools†, or OFFS for short. This program uses the idea of football (soccer) as a way to encourage fellowship andShow MoreRelatedSports For Development Programs Make A Difference1455 Words   |  6 PagesGaye Ãâ€"zarslan Sport for Development 15/10/2015 Essay 1: Final Draft Can Sport for Development Programs make a difference in overcoming problems of the developing world? The question that whether sport can help development efforts or not is a highly debated topic. 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Junior College Baseball Free Essays

Growing up as a kid it is easy to say that it is almost every little boys dream to one day become a professional baseball player. They wake up and go out to play in there practices and games trying to be like one of the greats. Ad kids get older there are some that fade away from the dream and some that still live by the dream and try there hardest to get to that ultimate goal. We will write a custom essay sample on Junior College Baseball or any similar topic only for you Order Now When you get to high school there will not be that many kids playing baseball and school is very tough. there are athletes that are also very smart and do well in class and others that just aren’t as good in the classroom. he ones that do good in the classroom even though they may not be better at a sport get to play anywhere they want in a nation and there are many good players that are left to play junior college baseball. junior college has always been a stepping stone to get to a big university and if you are an athlete one step closer to the ultimate goal. If the state of California takes away sports and privileges it will make less students want to go there, more kids with crushed dreams and could lead to more kids on the street and more poverty even. Junior college sports can be a lead or a big leap in a student athletes life to becoming a professional at there sport. Moorpark college has gone upon themselves to take away the fall league for baseball. being that the fall league takes it to the first issue in which kids dreams will be crushed and opportunities will be lost. In her March 12, 2010 blog,Erica Perez stated. â€Å"†We tried to build a program that was providing lots of opportunities for students to compete at the Division I level. Unfortunately, there will be fewer opportunities in the future. There is a good chance that there will be ball players thats dreams get crushed just because of this slight change in the program. If a player can not play in the fall it is merely impossible for them to get seen by college coaches mostly but also professional scouts. During the season all of the college coaches have their own season to focus on therefore they use the fall as a time to go out and watch the prospects compet e. The reason behind the problem is that there was a lawsuit against Moorpark College for a head injury that occurred during a baseball game. Although it is very upsetting that a player was injured I do not believe that is is right to take away all of those privileges simply because someone got hurt. It may sound selfish, however, the reality is that they player and the family know that there is a chance of injury and put themselves out there and risk it just as all other players do. In an interview with coach Terry Mcmaster he said † When there is no baseball in the fall it takes away great opportunities for guys to get scholarships and drafted to play pro ball. In the whole situation it makes no sense that they cut all the games because it is doing nothing but hurting the school. Most athletes that are at junior college are there because they didn’t get high enough grades out of high school to compete in sports or just get into the school. If the fall program is gone and kids can not get to the next level it will just increase the amount of kids that do not graduate with a degree and thus are more likely to end up in poverty searching for a job â€Å"Budget Cuts May Cost UC Davis up to Nine Sports Teams | California Watch. † California Watch | Bold New Journalism. 2010. Web. 26 Oct. 2010. . How to cite Junior College Baseball, Papers

Financial Reporting and Its Analysis

Question: Discuss about the Financial Reporting and Its Analysis. Answer: Introduction To begin the study, two companies have been selected for the purpose of comparison from the industry of supermarket namely Wesfarmers Limited and Woolworths Limited. Wesfarmers Limited - Company Wesfarmers was established in January 1914 as one of the leading cooperatives for farmers in Australia under the chairman ship of Deanne Hammond. The company has diversified lines of business ranging from liquor to chemicals, fertilizers, coal, safety products for the industry, home and office related supplies and thus supermarkets. The company operates its business through the major five major divisions namely Coles, Home betterment and improvement, Stores, supplies for office, industrial products and other related businesses. The first division was formed in the year 2007 on the Coles group acquisition. Cole group has been itself a bunch of divisions which provides different goods or products to the different customers including food, groceries, liquor products and financial services. Second division is home improvement which contains Bunning, as a leading and required retailer in the field of home betterment and other living products and Home base, as second number retailer for home products and garden services in United Kingdom. Third division is department stores containing two major segments Knart and Target and has been formed in the month of February for the year 2016. Fourth division is office works and for which the company has been regarded as leading supplier of office products and services. Fifth division is Industrial which includes chemicals and fertilizers and safety products for industry. The organizational structure of the companies works from Managing Director, Chief executive and finance officer, Director of respective functions like finance, purchase, logistics and sales, etc, company secretary, managers and lower level employees. Woolworths Limited - Another company is Woolworths Limited that has been formed on fifth of December, 1924 in Sydney. On that day the then CEO of company has mentioned that every part of the world shall be Sydney where all the things and products are available to anyone at cheaper price with good quality and since then the company is striving to achieve the same. The main activity of the company is to have supermarket only where all the products are made available for the customers. The company operates the main activities through its three major divisions Food Group, Endeavour Drinks and Portfolio business. Food group again contains six branches Rewards, supermarkets, countdowns, Thomas dux, petrol and financial services. Second group contains four branches Dan Murphys, BWS, Cellarmasters and Langtons and last group contains three branches Big W, Ezi buy and hotels. The organizational structure of the team is vertical form of structure ranges from top level management including Board of Directors and Executive Committees, middle level management including managers and executives and lower level management including supervisor and their subordinates. The company has been achieving growth since the year of its establishment and has become one of the leading companies in supermarket industry in Australia and New Zealand. Both the companies are at equal pace and thus have been selected for comparison. In the forthcoming headings and subheadings, the comparison has been made with regard to their financial statements and the framework within which the financial report has been framed. Identification and Evalution of the Company Financing Sources The financing resources of each of the company will be identified through the financial statements stated in the annual report and will be evaluated through the computation of different financial ratios. First Company Wesfarmers limited Financing Sources - The Company has been financed by equity component as well as debt component. As per Note Number 12 of the Annual Report of the company: Equity - Equity component of the company includes ordinary equity shares that have been issued to the promoters and shareholders of the company and also includes the shares issued under the scheme of Employees stock option plan wherein the shares are issues to the employees of the company as reward for their performance.(Annual Report, 2016.) Debt - The companys debt component includes both the long term debt and short term debt and has been classified as Non Current liabilities and Current Liabilities respectively. Both the heads of debt have classified under the sub heading of Interest bearing loans and borrowings. As per Note number 14 of the annual report, the company has availed short term debt in the form of corporate bonds and other bank loans and has outstanding balance of $1632 million at the year ending 30th of June 2016. Similarly, the company has availed long term debt and have outstanding balance of $5631 million at the year ended on that date.(Annual Report, 2016) Both the facilities availed are unsecured and as per the reported significant items in the annual report, the company has renewed the facilities of $500 million in June 2016 and thus have intermediate debt in its financing sources. Analysis of Capital Structure and Other Ratios Debt to equity ratio has been increased from 0.63 for the year ending 30-06-2015 to 0.78 for the year ending 30-06-2016 which shows that the company has increased its reliance on the banking funds and that too which are unsecured. Simultaneously the equity ratio has been decreased from 0.61 as at 30-06-2015 to 0.56 as at 30-06-2016. As per the norms of practice, acceptable debt equity is 2:1. Therefore, the company is still within the ambit of having the going concern assumption as high debt equity ratio gives an indication that the company will soon go for liquidation. Net profit margin ratio has been gradually decreased from 6.02 to 2.04 which has alarmed the situations of the investors as to whether to invest further in the company or take back the amount invested so far. Current ratio has been intact at 0.93 times which shows that the liquidity of the company is similar to earlier year. Along with this, the net working capital of the company seems better than as generated in the earlier year. Earnings per share have been gradually decreased from 216.1o for the year ending 30th June 2015 to 36.20 for the year ending 30-06-2016. The major shift has been suffered by the investor and the company only due to low profit margins. Along with the earning per share the companys dividend per share has been decreased from 230 to 201.90. Financing Structure and Financial Reporting Framework The reporting of financing structure of the company has been made within the conceptual framework of financial reporting. All the relevant disclosure have been made and that too in accordance with the Australian Accounting standards and International Reporting Financial Standards (AASB,2015). According to the nature of its business the companys financial structure is adequate. Debt equity ratio as per the supermarket industry should be less than or equal to one. As whole business of the company is of wholesale thus the current liabilities and current assets including creditors and debtors and stock respectively comes in equal proportionate as compared to previous year. Second Company Woolworts limited : Financing Sources - The Company has been financed by equity component as well as debt component. As per Note Number 20 of the Annual Report of the company: Equity - Equity component of the company includes ordinary equity shares that have been issued to the promoters and shareholders of the company and also includes the shares issued as a result of share rights and exercised under the scheme of Employees stock option plan wherein the shares are issues to the employees of the company as reward for their performance and also includes the shares issued under the long term incentive plans for the employees.(Annual Report, 2016.) Debt - The companys debt component includes both the long term debt and short term debt and has been classified as Non Current liabilities and Current Liabilities respectively. As per Note number 23 of the annual report, the company has availed short term market loans and revolving credit facility from the bank amounting to $82 million. The short term securities also includes US senior notes and medium term notes. The long term debt includes bank loan in consortium with other banks and also the US senior notes and European Medium term notes. The company has also financed through the issue of debenture namely Woolworths Notes II. (Annual Report, 2016) . Analysis of Capital Structure and Other Ratios Debt to equity ratio has been increased from 1.28 for the year ending 30-06-2015 to 1.68 for the year ending 30-06-2016 which shows that the company has increased its reliance on the banking funds and that too which are unsecured. Simultaneously the equity ratio has been decreased from 0.44 as at 30-06-2015 to 0.37 as at 30-06-2016. Net profit margin ratio has been gradually decreased from 6.02 to 2.75 which has alarmed the situations of the investors as to whether to invest further in the company or take back the amount invested so far. Current ratio has been intact at 0.84 times which shows that the liquidity of the company is similar to earlier year. Along with this, the net working capital of the company seems better than as generated in the earlier year. Earnings per share have been gradually decreased from 170.80 for the year ending 30th June 2015 to (97.70) for the year ending 30-06-2016. The major shift has been suffered by the investor and the company only due to low profit margins. Along with the earning per share the companys dividend per share has been decreased from 122.50 to 93.80. Financing Structure and Financial Reporting Framework The reporting of financing structure of the company has been made within the conceptual framework of financial reporting. All the relevant disclosure have been made and that too in accordance with the Australian Accounting standards and International Reporting Financial Standards (AASB,2015). Analysis and Comparison of Company's Financial Sources Similarities Debt equity ratio of both the companies has been decreased from the year ending 30-06-2015 to 30-06-2016. Debt equity ratio of both the companies has been decreased from the year ending 30-06-2015 to 30-06-2016. Net profit margin has been decreased of both the companies. Both the companies have made the current ratio intact in spite of having gradual decrease in the net profit margin in the current year as compared to the earlier year. Both the companies earning per share and dividend per share has been decreased gradually and for the Woolworths it is in negative figures. Both the companies have followed same set of accounting standards and have disclosed adequately. Diffirences The pace at which the debt equity ratio has been increased in case of Woolworths Limited is higher than that of Wesfarmers Limited. The current and non - current liabilities has been given in detail by the Woolworths Limited than the Wesfarmers Limited. The equity component of the Woolworths Limited is different from Wesfarmers because of inclusion of Right shares. The debt component of the Woolworths Limited is different from Wesfarmers because of the inclusion of debentures. Reason for Similarities and Diffirences The reason for similarity in ratio is that both the company operates in the same industry and has to follow the pre defined financial ratios that is acceptable. Both the companies having similar increasing and decreasing trend in the ratios. It is so because the net profit margins of the both companies have been gradually decreased. Summary and Recommendation Significant Points First of all the main history of the both the companies have been discussed in detail along with the main activities of the companies. Also the products that is being catered to the customers along with different services has been detailed in connection with the various divisions being operated by both the companies. Secondly, financing sources have been discussed with reference to the annual report of the company. Debt and equity component reported in the financial statements have described with the help of capital structure ratios. Thirdly, financial ratios like net profit margin ratio, current ratio, EPS and DPS, etc have been calculated so as to make the comparison easier. Fourthly, the conceptual framework within which the financial statements have been reported is discussed with reference to accounting standard. From the study of this report, our recommendation for the investors is to invest in Wesfarmers Limited instead of Woolworths Limited in order to have high earning on the amount invested. References Woolworths Limited official website available on https://www.woolworthslimited.com.au/page/Invest_In_Us/Reports/Reports/ accessed on 01/02/2017. Wesfarmers Limited official website available on https://www.wesfarmers.com.au/investors/reports-results-presentations.html accessed on 01/02/2017. Brwon C, Dutton M, Rietz T, Financial Statement Analysis, available on https://tippie.uiowa.edu/iem/modules/finstatement.ppt accessed on 01/02/2017. Financial Statement Analysis available on https://www.business-solutions-and-resources.com/financial-statement-analysis.html accessed on 01/02/2017. Anastasia, (2015), Financial Statement Analysis : An Introduction available on https://www.cleverism.com/financial-statement-analysis-introduction/ accessed on 31/01/2017. Bajkowski, (1999), Financial Accounting Ratios: Putting the Numbers to Work, AAII Journal, August 1999 issue, Pages 1-7. Accessed on 31/01/2017 Lan J., (2012), 16 Financial Ratios for Analysing a Companys Strengths and Weaknesses, AAII Journal, September 2012 issue available on https://www.aaii.com/journal/article/16-financial-ratios-for-analyzing-a-companys-strengths-and-weaknesses.touch accessed on 31/01/2017. Alvarez F and Fridson M, (2005), Financial Statement Analysis A Practitioners Guide, available on https://www.up.m-e-c.biz/up/Mohcine/Pictures%20BOOK/Wiley%20Finance,.Financial%20Statement%20Analysis%20-%20A%20Practitioner's%20Guide,%203rd%20Edition.pdf accessed on 31/01/2017. Uzochukwu N, (2012), Analysis and Interpretation of Financial Statements as a Managerial Tool for decision making, accessed on https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=4cad=rjauact=8ved=0ahUKEwiUqvrpj7TMAhWQCY4KHcqMBJ8QFggzMAMurl=http%3A%2F FGL,(2013),Accounting Ratios available on https://frostgroup.co.uk/articles/2013/accounting-ratios accessed on 31/01/2017. Zions Bank Official Website,(2005) How to Analyse your business using Financial Ratios, available on https://www.zionsbank.com/pdfs/biz_resources_book-6.pdf Accessed on 31/01/2017. AASB, (2015), Conceptual Framework for Financial Reporting available on https://www.aasb.gov.au/admin/file/content105/c9/ACCED264_06-15.pdf accessed on 01/02/2017.