Financial Report on Abans Electrical PLC - Free Essay Example

Sample details Pages: 5 Words: 1465 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Level High school Did you like this example? Table of Contents 1.Executive summary 2.Abbreviations included in the Report 3. Sri Lanka Electricals Industry at Overview 4. Introduction of Abans Electricals PLC 5. Profitability Analysis 6.Efficiency / Underwriting Analysis 7.Solvency Analysis 8.Market Base Ratio Analysis 9.Recommendations and Conclusion 10. Reference 11.Annexures Executive summary Public listed companies prepare and present their annual reports included of the financial statements in order to persuade the diversified information and regulatory requirements of different stakeholders and you can divide the into two user groups (The Investor group / Preference share holders), The Investor group look for mainly in a financial statement is Profitability ( especially future profitability ), management efficiency ( effective utilization of assets ), Return on Investment-ROI (Within the firm / Alternatives), Risk taken ( Financial risks and business risk), Return to owners (Dividends/Drawings) and the Preference share holders look for mainly Future profitability, Net realization value of assets and extent to which dividends are covered by profit, This reports analyses the reported performance of the market leader of the Sri Lankan Electricals Industry, Abans Electricals PLC covering the profitability, efficiency, solvency and market based ratios. The report ha s been prepared highlighting the fact that the above aspects of an electrical company are being measured and evaluated using industry specific measures where applicable, which are not common to other industries. Recommendations have been made for improvement based on the analysis, in the areas which has room for improvement and better performance. Don’t waste time! Our writers will create an original "Financial Report on Abans Electrical PLC" essay for you Create order 2. Abbreviations Included in the report Sri Lanka Ports Authority market Intelligence report Abans Electricals PLC ROE à ¢Ã¢â€š ¬Ã¢â‚¬Å" Return on Equity (Profit) ROA à ¢Ã¢â€š ¬Ã¢â‚¬Å" Return on Assets ROR à ¢Ã¢â€š ¬Ã¢â‚¬Å" Return on Revenue EPS à ¢Ã¢â€š ¬Ã¢â‚¬Å" Earnings per share 3. Sri Lanka Electricals Industry at a Overview Sri Lanka Ports Authority market Intelligence report as below given report there are mainly 9 key electricalcompany dominating the market, as per the two of companies are registered members of Chamber of commerce Sri lanka Import section and main two significant players are given in below chat hold 75% share of the total market, with government tax of imported electronics goods revision to embark of the vision of Sri lanaka current government president vision make Sri lanka also like Dubai, Singapore, Hong kong a hub for duty free and duty paid competitive electronic goods seller to attract tourism industry, Industry Player as 2013 CATEGORY CONSIGNEE CONTAINERS ELECTRICAL GOODS IMPORTERS ABANS ELECTRICALS PLC 2534 SINGER SRI LANKA PLC 1219 UNI WALKERS LTD,,,,. 443 EVEREST INDL LANKA CO LTD 161 RICH WORLD INTL. 151 TELESONIC LANKA, 148 SINGHAGIRI PVT LTD 147 DAMRO ELECTRONICS PVT LTD. 140 4. Introduction of Abans Electricals PLC Incorporated in 1981, Abans PLC is the vital trading arm of the Abans Group, representing world famous brands of electric and electronic home appliances, crockery and cookware, sanitary and light fittings and a host of other household items that make Sri Lankan peoples lives easier and better,Abans PLC have a network of over 230 showrooms throughout Sri Lanka with their main showrooms located in three floors of their group head office on the main thoroughfare in the heart of the Colombo City, with 14 more elite showrooms in Liberty Plaza, Rajagiriya, Mt Lavinia, Welisara, Dehiwala, Katunayaka, Anuradhapura, Peliyagoda, Malabe, Maharagama, Kalutara, Kandy etc. Abans also have more than 400 authorized dealers representing them in the remotest rural areas bringing their products within reach of each family and every household in the country. All products sold by Abans carry a trusted guarantee of quality and reliable after sales service. 5. Profitability Analysis Profitability analysis is very important for management and the investors as it gives an indication whether the company has performed up to the expectations and whether to invest in a companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s stocks. According to Abans Electrical PLC annual report the share holder and investor information profitability measure on selling of goods compare to previous year, It clear shows a growth on sales 2013/2012 compare to 2011/2012 grown by 13% and The profit however, increase by over 97%, Source: Statement of Comprehensive Income For the Year Ended 31st March 2013 Source: Statement of Comprehensive Income For the Year Ended 31st March 2013 5.1 ROR This is the profit after deducting all expenses and taxes, which determines the profitability of the company. ROR = Net Operating Income / Total Revenues For Year 2013 = 128, 301, 134 / 2892, 337,763 = 4.4% For Year 2012 =62390871 / 2546,449, 683 = 2.4 % Accordingly the company has increase ità ¢Ã¢â€š ¬Ã¢â€ž ¢s ROR 2% during the year increasing profitability. 5.2 ROE à ¢Ã¢â€š ¬Ã¢â‚¬Å" This showcase the net profits that are earned and returned to equity shareholders. ROE = (Net Operating Income ( less preferred stock dividends / Average common equity ) For year 2013 = 128,301,134- 0 / 551, 054920 = 23% For year 2012 = 62390871 / 429,967, 401 = 14% ROE has been increased by 9% promising higher returns to the shareholders of the company. 5.3 ROA The profitability on existing investment securities and premiums are measured using this ratio. ROA = ( Net Operating Income / Mean Average Assets ) For year 2013 = 128, 301, 134 + 48,086,865 / 198, 845, 7597 = 8.8% For year 2012= 639,0871 + 27046510 / 120 8902, 531 = 7.3 % There is a slight decrease in the ROA due to the rapid increase of assets during the financial year 2013, compare to 2012. 5.4 Share base Earnings à ¢Ã¢â€š ¬Ã¢â‚¬Å" These ratios measures the share based profitability and earnings of the company. The relevant ratios are follows, Source: Statement of Comprehensive Income For the Year Ended 31st March 2013 6. Efficiency / Underwriting Analysis Efficiency Ratio mainly use to aims the access of management efficiency of the business following will few analysis self made to analysis efficiency level of Abans Electrical PLC, 6.1 Debtorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ Turnover = Sales / Debtors For year 2013 = 289,233, 776,3 / 59,588,576 = 48.5 times For year 2012 = 2546,449, 683 / 40196076 = 63.3 times Debtorà ¢Ã¢â€š ¬Ã¢â€ž ¢s collection period = 365 days / Debtors Turn over For year 2013 = 365 days / 48.5 times = 7.5 days For year 2012 = 365 days / 63.3 times = 6 days Abans PLC have been maintain 1 days difference on outstanding collection days compare to 2013/2012, 7. Solvency Analysis Solvency is again another area where industry specific measurement are in place to measure the solvency of industry, solvency is a very important and essential for customer to maintain consistence level of solvency margins and you can define Solvency in two groups one is short term solvency / long term solvency ratios, Abans Electrical PLC short terms Solvency Ratios as follows, Current Ratio = Current Assets / Current Liabilities For 2013 = 1547035 / 1355743 = 1.14 times For 2012 = 951146 / 735746 = 1.29 times Quick Ratio = Share Capital / Current Liabilities For 2013 = 4258800 / 1355743 = 3.14 times For 212 = 122,850, 000/ 735740 = 166 times Abans Electrical PLC Long Term Solvency Ratios as follows, Depth Equity = Total Liabilities / Total Share holdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ equity For 2013 = 1437402 / 551,055 = 2.60 times For 2012 = 778935 / 429,967 = 1.81 times Leverage ratio = Total Assets / Total Share holdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ equity For 20 13 = 1988457 / 551,055 = 3.60 times For 2012 = 1,208, 902 / 429,967 = 2.81 times Compare with short term Solvency Ratios and Long term Solvency Ratios the shows Abans Electrical PLC has been able to maintain very healthy solvency margin, which is 0.79 times an increase compare to previous year. 8. Market base Ratio Analysis Market base ratio Analysis means primary focus on performance and value of the company shares in stock market. Below table represent a comprehensive summary of all market base ratios of Abans Electrical PLC, Given the below table shows a positive growth during the finical year 2011, further we can see Abans Electrical PLC have executing set goalà ¢Ã¢â€š ¬Ã¢â€ž ¢s and strategic objectives are met will attack more and more investors. Source: Statement of Comprehensive Income For the Year Ended 31st March 2013 9. Recommendation and Conclusion Profitability à ¢Ã¢â€š ¬Ã¢â‚¬Å" Abans Electrical PLC shown 14.43 % increase on Earning per Share and Comprehensive income for the year incremental by 61,429,945 which double income compare with previous year, this records company is moving forward solid growth under blue ocean strategy earning supreme profitability, below table explain by recommendation supported by numbers, Source: Statement of Comprehensive Income For the Year Ended 31st March 2013 Market Ranking How to continue the achievement in the coming financial year is due to introduction of new product manufacturing and contribution of the Service Division which has enhanced the share value to stake holders and provided an opportunity to the company for expansion into new lines of manufacture. Despite global and domestic challenges, the company has introduced products of world renowned brands to increase revenue and enhance customer confidence. The management continuously negotiates terms and conditions with suppliers in order to bring down costs and be competitive in pricing while maintaining high standards of quality, this should be key Abans Electrical should maintain to have a edge over competitors Financial risk management However the negative side to notice is the main factors influence the financial risk of the organization links with its credit risk and market risk. Under the market, risk, interest rate risk and exchange rate risk are prominent. Credit risk of the organization has been mitigated with the evaluation of proper credit term for credit worthy customers and obtaining extended credit terms with supplier. The frequent changes in interest rates are negotiated in line with the intended cost of capital of the organization. Exchange rates are managed with proper negotiation and absorbed to cost structure in advance In conclusion Abans Electrical PLC is a comprehensive performance driven company reach supreme profitability to be one step ahead than competito r to strive for market leadership among the local competitors and it should good impression attract new investors / new share holders to delivery greater return on shares purchase. References Abans Group , Profile (2013) available at https://www.abansgroup.com Accessed on 24 May 2014 Annual Report of 2013/2-13 Abans Electrical PLC ( A copy submitted along with the assignment ) 1 | Page

Mark Twains Humorous Satire in Running for Governor

zwwx@overseaen.com http://www.overseaen.com 2012 Ã¥ ¹ ´ 02 æÅ"ˆ Tel:+86-551-5690811 5690812 ISSN 1009-5039 Overseas English æ µ · Ã¥ ¤â€" è‹ ± è ¯ ­ Overseas English æ µ · Ã¥ ¤â€" è‹ ± è ¯ ­ Mark Twains Humorous Satire in Running for Governor ç” °Ã¥â‚¬ © ï ¼Ë†Ã¥ ® Ã¥ ¤ Ã¥ ¤ §Ã¥ ­ ¦ Ã¥ ¤â€"å› ½Ã¨ ¯ ­Ã¥ ­ ¦Ã©â„¢ ¢Ã¯ ¼Å' Ã¥ ® Ã¥ ¤  é“ ¶Ã¥ ·  750021ï ¼â€° Abstract: Mark Twain, a mastermind of humor and realism, is seen as a giant in world literature. His humorous satire had great impact on the following men of letters; critics also attached significant importance to it and put forward various interpretations. Noticeably, his humor⠁Æ' ous satire finds full expression in his famous short story, Running for Governor. In it, with humor and satire, he exposed the true features and hypocrisy of American democracy. The paper tries to analyze the basic elements which†¦show more content†¦Twain owes it to himself, as well as to the great people whose suffrages he asks, to clear this matter up. Will he do it? These three words the great people are full of localism, also with humor to demonstrate my rivals extraordinary skills2. His words are colloquial, concrete and direct in effect, and his sentence structures are simple such as will he do it, but humorously sati⠁Æ' rize officialdoms true features. His humor is not only of witty remarks mocking at small things or of farcical elements making people laugh, but a kind of artistic style used to criticize the social injustice and satirize the decayed romanticism. 3 Influences of Mark Twains Humorous Satire Twains works, both in content and form, with more American characteristics, demonstrate Americans thoughts and feelings and reflect the manifold movements of American society by using their own language and telling their own stories. Twains life is difficult, but he wrote a large number of literary works. From the spiritually empty and nothing-to-do people, to the unscrupulous politicians, æ” ¶Ã§ ¨ ¿Ã¦â€" ¥Ã¦Å"Ÿï ¼Å¡ -12-05 2011 ä ¿ ®Ã¥â€ºÅ¾Ã¦â€" ¥Ã¦Å"Ÿï ¼Å¡ -01-05 2012 ä ½Å"者ç ®â‚¬Ã¤ »â€¹Ã¯ ¼Å¡ ï ¼Å' ç” °Ã¥â‚¬ © Ã¥ ® Ã¥ ¤ Ã¥ ¤ §Ã¥ ­ ¦Ã¥ ¤â€"è ¯ ­Ã¥ ­ ¦Ã©â„¢ ¢Ã§ ¡â€¢Ã¥ £ «Ã§  â€Ã§ © ¶Ã§â€Å¸Ã¯ ¼Å' ä ¸ »Ã¨ ¦ Ã§  â€Ã§ © ¶Ã¦â€" ¹Ã¥ â€˜Ã¤ ¸ ºÃ¨â€¹ ±Ã¨ ¯ ­Ã¨ ¯ ­Ã¨ ¨â‚¬Ã¦â€"‡å ­ ¦Ã£â‚¬â€š 206 ä ¸ ­Ã¥ ¤â€"æâ€"‡å ­ ¦Ã¦â€"‡åÅ'â€"ç  â€Ã§ © ¶ æÅ" ¬Ã¦   Ã§â€º ®Ã¨ ´ £Ã¤ » »Ã§ ¼â€"è ¾â€˜Ã¯ ¼Å¡ æ  ¨Ã¨  ²Ã¨  ² 2012 Ã¥ ¹ ´ 02 æÅ"ˆ to the rulers of money and the rulers of spiritual morality became the objects of Twains ruthless ridicule, biting satire and criticism. As a distinguished master of humor and irony, Twains humor with his unique style, a

The Future Energy Systems Environmental Sciences Essay Free Essays

The resources of biomass are limited and a deficiency of adequate available cultivated lands may be the major ground to curtail biofuel development in the long term [ 12 ] . Guaranting nutrient security has been and will ever be a national scheme for China, sing China has a monolithic population but a cultivated country per capita which is even less than half of the universe norm. China has set the biomass development rule that â€Å" developments of biomass are non allowed to vie with nutrient supply every bit good as lands, on which nutrients are supposed to be cultivated † [ 19 ] . We will write a custom essay sample on The Future Energy Systems Environmental Sciences Essay or any similar topic only for you Order Now Therefore, the potency of available fringy land resources is one of the influential factors to find the possible production of purpose-grown energy harvests. Agricultural and forestry wastes in China will play a important function in the future biomass development, in which the usage of biofuels in conveyance will hold to vie with the biomass usage of other sectors, such as electricity and heat coevals [ 20 ] . Electricity is another AVF which drives vehicles to travel by utilizing electric motors. The application of electricity in vehicles greatly improves the vehicles ‘ energy efficiency and reduces vehicle fumes emanations, which is peculiarly of import in urban countries. Today, many trains and urban rail theodolite systems have been electrified. Electricity is provided straight from a public grid, where energy storage is by and large non a concern [ 21 ] . BEVs have drawbacks of a limited drive distance, comparatively long recharging clip, a high initial vehicle monetary value, low constituent continuances every bit good as demands of a to the full developed reloading substructure, etc. [ 22,23 ] . Plug-in intercrossed electric vehicles ( PHEVs ) emerged as a possible intermediate measure towards a to the full electric manner. Most obstructions which BEVs have to get the better of now are related to the battery engineering. This engineering is expected to optimize the bing Li bat teries in the short term and to develop new battery chemical science with significantly higher energy densenesss to enable the usage of BEVs and PHEVs with a longer all-electric scope in the long term [ 24 ] . If discoveries of the battery engineering can be obtained in the hereafter, electricity may be the most promising AVF in conveyance, due to the bear downing substructure is non basically different from the substructure of the current conveyance system. Hydrogen, an energy bearer, serves as another opportunity to replace the oil usage in conveyance. Combined with fuel cell engineering, H is transformed to electricity which is so used by electric motors to impel wheels. Advantages of a H fuel cell vehicle ( HFCV ) are observed, such as a long drive scope and zero emanation in a tank-to-wheels point of position provided H is stored on-board and produced off-board. There is another type of HFCV with on-board transforming of fuels, such as methyl alcohol, to hydrogen but with emanations from transforming fuels and a more complex on-board transforming system [ 23 ] . Today, the commercial degree of HFCVs is far behind the degree of biofuels, PHEVs and BEVs [ 25 ] . Many challenges of developing HFCVs demand to be overcome in the hereafter including efficiency betterments of fuel cell engineering and cut downing the high initial monetary value of the vehicles by maturating their on-board power system, in which batteries are besides needed today to gaining control and shop electricity, etc. However, the most ambitious issue of developing HFCVs is the deployment of the H substructure due to both the diverseness of the H production tract and dearly-won H distribution processes [ 26 ] . Replacement of oil usage, decrease of fuel ingestion every bit good as a lessening of CO2 emanations from the tank-to-wheels position are three direct benefits of utilizing electricity and H in conveyance. However, the last two benefits may lose in the electricity and H production procedure sing most current energy systems are dominated by fossil fuels. For case, electricity from the mean Chinese grid has the CO2 emanation strength ( measured as the CO2 emanation divided by the energy demand ) similar to that of a gasolene tract although a comparatively lower dodo energy ingestion strength ( measured as the dodo energy ingestion divided by the energy demand ) [ 27,28 ] . Another survey indicates that if H is produced with U.S. mean electricity ( more than 50 % of which is generated from coal-burning power workss ) , its usage, even in efficient HFCVs, can still ensue in increased CO2 emanations ; in contrast, if renewable electricity, such as air current power, is used for H producti on, the usage of H in any vehicle engineering will ensue in riddance of green house gas ( GHG ) emanations [ 29 ] . It has been shown that benefits of the oil usage replacing and the limited GHG emanation decrease can be obtained in the conveyance sector by using AVFs which are produced from dodo fuel dominated energy systems [ 30,31 ] . However, those benefits are non sufficient and current dodo fuel energy systems can non prolong the development of sustainable conveyance. It is necessary to place engineerings and schemes in conveyance, by which the oil usage can be replaced and options can be produced based on renewable energy beginnings. Consequences of implementing such engineerings and schemes in conveyance should be analysed in the context of the energy system. Future energy systems As discussed above, the development of sustainable conveyance with a large-scale decrease of GHG emanations and an use of oil independent options demands solutions from an overall renewable energy system. It can non be seen as an isolate development mark as the resources of biomass are limited and other options, electricity and H, are strongly connected with the remainder of the energy system. Most current energy systems are dominated by fossil fuels. This has posed many known challenges chiefly caused by the burning of these fossil fuels, such as clime alteration, insecure energy supply every bit good as environmental taint [ 32 ] . Those challenges will go terrible along with the addition of the dodo fuel monetary value and the growing of the energy demand in the universe. As an option, a suited substructure for the execution of renewable energy may function as a long-run sustainable solution. Future energy systems may hold at least three features compared to current dodo fuel dominated energy systems in footings of energy supply, energy transition every bit good as energy demand ( see Fig. 1-2 and Fig. 1-3 ) . Fossil Fuel 1 Power Plant Fossil Fuel 2 CHP Oil aˆÂ ¦aˆÂ ¦aˆÂ ¦ Heat Boiler Electricity Heat Conveyance Energy supply Energy transition Energy demand Fig. 1. A simplified illustration of a current dodo fuel dominated energy system. Abbreviations used in the figure: CHP, combined heat and power. RE 1 Intermittent Plant RE 2 CHP Rhenium aˆÂ ¦aˆÂ ¦aˆÂ ¦ Intermittent Heat Electricity Heat Conveyance Energy supply Energy transition Energy transition and demand POLY RE 3 aˆÂ ¦aˆÂ ¦aˆÂ ¦ Fig. 1. A simplified illustration of a hereafter energy system. Abbreviations used in the figure: RE, renewable energy ; POLY, poly-generation works for bio-transport fuel, heat and electricity coevals ; CHP, combined heat and power. On the energy supply side, large-scale renewable energy beginnings are expected to be utilised as primary energy in future energy systems. Renewable energy beginnings consist of renewable beginnings of electric power, such as air current power, solar power and hydropower, etc. ; renewable beginnings of thermic power, such as geothermal, solar thermal, etc. ; and biomass resources which can be converted into many signifiers including liquid fuels, bio-gas every bit good as solid fuels. Bio-energy can be utilised in assorted energy transition processes to bring forth electricity, to provide heat every bit good as to bring forth fuels for conveyance energy usage [ 3 ] . With regard to energy transition, more efficient transition and storage engineerings will be widely needed in future energy systems in which the energy transition procedure becomes more diversified and complex. One energy demand, such as electricity, can be converted from primary energy by utilizing engineerings for illustration intermittent power workss, CHPs ( in footings of steam turbines, fuel cells, etc. ) and poly-generation workss [ 33 ] . One energy demand can be converted into another such as change overing electricity to heat by utilizing heat pumps and electric boilers, etc. [ 34 ] . One signifier of the energy demand can be converted into other signifiers, such as change overing solid fuels into gas or liquid fuels by the usage of electrolysers or biogas and biofuel workss [ 35 ] . Energy storage engineerings serve as the necessary addendum through which benefits of the efficiency betterment of the transition procedure in the energy system may be reached [ 36,37 ] . On the energy demand side, the function of a concluding energy user may alter due to the execution of alternate engineerings, which respond to the demand of bettering energy efficiency in future energy systems. One illustration could be the conveyance sector which used to be the concluding oil user in the current dodo fuel dominated energy system ; nevertheless, in future energy systems it connects to the remainder of the energy system and likely starts to play functions as both nomadic energy storage and a new power beginning by implementing engineerings of EVs and vehicle-to-grid ( V2G ) [ 38,39 ] . Renewable energy engineerings, more efficient energy transition engineerings and energy economy engineerings are three cardinal elements for the hereafter sustainable energy development. Two major challenges of renewable energy schemes for sustainable energy development have been identified [ 40,41 ] . One challenge is to incorporate a high portion of intermittent renewable energy beginnings into the energy system, particularly the electricity supply. The other is to include the conveyance sector in the schemes. The intermittence of renewable energy gives rise to jobs of run intoing the uninterrupted energy demand, procuring the transmittal grid stabilization every bit good as avoiding extra electricity production, etc. [ 32,35 ] . Flexible engineerings and equal storage are both needed to ease integrating of intermittent renewable energy every bit much as possible in order to extenuate the force per unit area on the biomass use and accordingly cut down the competition for land and H 2O usage between biomass and nutrient supply. The high dependance on oil merchandises and the deficiency of mature options based on renewable energy make the conveyance sector one of the most hard sectors to be included in the renewable energy schemes. The sustainable conveyance development is an of import and necessary portion of implementing a hereafter renewable energy system. How to cite The Future Energy Systems Environmental Sciences Essay, Essay examples