10 Traits Of An Expert Essay Writer

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Teaching Essay Writing Should Not Be Formulaic

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Should I Graduate Early Take the Quiz

For any number of reasons, you may be thinking about graduating early. Maybe you want to start taking college classes. Or maybe you have a job lined up to save money for college. Or maybe you’re just suffering a good old-fashioned case of senioritis, in which case we highly recommend this Senior Year Survival Guide! There are lots of pros and cons to graduating early, so if you’re asking yourself, â€Å"Should I graduate early?† take this quiz to gain greater insight. And once you’ve taken it, read on to learn more about graduating early to decide if it’s the right choice for you! Take the Quiz! (function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })() First Things First: Get All The Facts About Graduating Early If you’re debating whether or not to graduate early, the absolute first thing to do is find out exactly what is required to graduate early, and how graduating early will impact your college decisions. Find out the following information: If your high school allows early graduation. Not all of them do! How many credits you’ll actually need to graduate early, and how many in each subject area. Will you have all of these completed in time for early graduation? The cut-off date for applying for early graduation. Some schools require that you submit your petition to graduate early by the end of your junior year, for example. When you’ll actually be done with classes. Even if you have all of the necessary credits to graduate by the end of your junior year, many high schools will not let you graduate until after completing first semester of your senior year. Post-graduation rules. Will you still be able to participate in extracurricular activities? (Hint: probably not). Will you you need a guest pass to visit the high school? Will you be able to attend your graduation ceremony? (More on this later). What about Prom? Will you be able to take AP exams for any AP courses you’re enrolled in? Early graduation procedures. Is there paperwork to fill out? Does a teacher or counselor have to sign off on this decision? Also, keep in mind that if you’re not 18 yet, you’ll need permission from a parent or guardian. Then consider the following: If/how graduation will affect your acceptance to college. If you’ve already been accepted and made a decision about where you’ll be attending, it’s a good idea to call the admissions department and verify that there are no additional requirements your acceptance is contingent upon. What, if any classes, you need to take now in order to stay on pace for early graduation. Are you one language or math class away? Will you have time to fit this course into your schedule? What your course load will look like in preparation for graduating early. Will you be overextended? Or will you be able to finish out your high school classes with relative ease? Assess Your Reasons For Graduating Early It’s a good idea to really consider why you’re considering graduating early. Any of these reasons can be the right reason to graduate early, but you want to make sure you think through your motivation thoroughly. Emotional reasons Is there something going on in your personal life that it is making it hard for you to properly focus on school? For example, have you been ill, or dealing with a family issue? If so, graduating early might be the right option. Keep in mind, however, that there may be other solutions, such as talking to a school counselor or taking fewer classes. If you’re experience high stress but don’t want to graduate early, talk to a teacher or counselor you trust at school about your options for lightening your load and receiving additional support. Financial reasons Let’s be real: college is expensive! Plenty of students use their free time after graduating early to get jobs and save money so they can work less (or not at all) once they’re in college. If you have a job lined up already—especially if it’s one you think could add value to your resume down the line—graduating early might be the right route for you Academic or professional reasons Are you graduating early to get a jump start on college courses or to take advantage of an internship opportunity? Sometimes high school students decide to take a required course at a community college, for example, or start volunteering somewhere aligned with their academic field of choice. If you’ll be intending a super intensive academic program for college, this might be a good way to get ahead, but make sure your schedule still feels manageable overall. Get Feedback While graduating early is ultimately a personal decision, it will impact some of your relationships, so it’s a good idea to get some feedback about the decision from a few different sources. Its a good idea to bounce your thoughts on the matter off of the following people: Your Family. What do your parents or guardians think of the decision? Are they supportive or skeptical? Why? Even if you’re 18, your parents are likely still providing you at least some level of support, so it’s worthwhile to hear their thoughts on the matter. Keep in mind that some schools don’t allow students who have graduated early to attend the formal graduation ceremony, and this might be a meaningful celebration for you and your family. What are your thoughts on walking on graduation day? What are theirs? A faculty member you trust. It’s worth discussing the prospect of graduating early with a teacher, guidance counselor, coach, or other mentor at your high school. They may have a stronger sense of how your academic or extracurricular experiences will be impacted by the decision. Your friends. What do your closest friends think? Will you miss seeing them every day? How do you plan to keep in touch once you graduate? Remember that you and your friends have a limited time to spend together before you all graduate and go your separate ways, so consider how graduating early will impact your social life. Someone who graduated early. What was their experience like? Do they feel good about the decision? Or do they have regrets? What advice might they have for graduating early? The Pros and Cons of Graduating Early Obviously the benefits and risks of graduating early will be different for everyone, depending on your lifestyle and plans. But here’s a bit of a â€Å"graduating early cheat sheet† if you’re still unsure. The potential pros: Getting a job and earning money for college Getting a jump start on an internship or college courses Decompressing mentally and emotionally before entering the next chapter of life; high school was intense and everyone needs rest! Avoiding the grade drops that can sometimes come with senioritis (yikes) The potential cons: Missing your friends or feeling removed from your former community Adding stress to your schedule by taking on a large course load prior to graduating early Possibly missing out on end-of-the year events such as Prom or the commencement ceremony Possible issues with your current college acceptance A Final Word On Graduating Early Whether or not you decide to graduate early, here’s a reminder of 5 things to do before graduation (or 10 things to do before graduation if you’re feeling ambitious). After remember that whatever route you choose, graduation is a big deal and you should be very proud of yourself. So take a moment to pat yourself on the back and celebrate once it’s official!

Homelessness Is The Issue And Problem Of Homelessness

Homelessness Defined: A key issue society currently faces is the issue and problem of homelessness. In January of 2016, approximately 549,928 American individuals were experiencing homelessness (HUD’s 2016 annual assessment, 2016). Most research concerning homelessness agrees that definitions of homelessness vary and that there are several challenges researchers encounter while attempting to study homelessness due the transient nature of homelessness along with other inconsistencies and barriers (Foster, 2012). Broadly defined, homelessness is the lack of adequate, stable shelter (Ogden, 2014). Classifications of homelessness include those who are fall under several categories including a homeless household, chronically homeless, precariously housed, sheltered homeless, rough sleepers and unsheltered homeless (Foster, 2012). The issue and problem of homelessness is and has been widespread throughout the world; different countries address the problem in a variety of ways. Here in the United States, both the government and nonprofit agencies exist in order to address the wide array of problems homelessness entails. For example, Government programs such as The Collaborative Initiative to Help End Chronic Homelessness exist as a partnered effort by the US Departments of Health and Human Services, Housing and Urban Development, and Veterans Affairs, and the US Interagency Council on Homelessness. These entities exist in an effort to collaboratively house and deliver services toShow MoreRelatedHomelessness : A Worldwide Public Health Crisis Essay1423 Words   |  6 PagesHomelessness: A Worldwide Public Health Crisis In the United States, there were approximately 564,708 people who were homeless on a single winter night in 2015 (Housing and Urban Development, 2015). Worldwide, acquiring an accurate picture of homelessness has proven challenging due to varying definitions country to country. Furthermore, data on homelessness has also proven to be extremely sparse in many parts of the world. The last worldwide survey was attempted by the United Nations. Based onRead MoreHomelessness And The Tampa Bay Area1234 Words   |  5 PagesHomelessness is a prevalent social issue that many countries are trying to resolve. One area that has a high rate of homelessness is the Tampa Bay Area in Florida. According to a homeless count carried out by the Tampa Hillsborough Homeless Initiative (THHI) in 2016, in Hillsborough County alone, there are, â€Å"at least 1,817 homeless men, women, and children† who have to resort to unorthodox housing, such as spaces behind buildings, encampments, sidewalks, and cars (â€Å"About Homelessness†). MoreoverRead MoreSocial Problems Within The Australian Society1215 Words   |  5 PagesA Social Analysis – Homelessness There are a growing number of social problems existing within the Australian society and unfortunately, research does not need to prove this. All it takes is a stroll down the main street of some suburbs to realise the extent of social problems within society. Homelessness is a rising trend that is affecting people of all demographics. Homelessness is more than just a simple disadvantage; with usually many underpinning factors which contribute to it, such as domesticRead MoreHomeless On A Single Winter Night Essay1507 Words   |  7 Pagesacquiring an accurate picture of homelessness has proven challenging due to varying definitions country to country. Furthermore, data on homelessness has also proven to be extremely sparse in many parts of the world. The last worldwide survey was attempted by the United Nations. Based on the survey it was estimated that 100 million people were homeless across the world (United Nations, 2005). Due to the lack of data, greater focus should be place d on the issue of homelessness. Considering the well-knownRead MoreSocial Problem Homelessness1065 Words   |  5 PagesApplication Social Problem Research: Homelessness Homelessness is becoming a major social issue in the United States, with many poor families and young people ending up in the street because of several reasons. This condition is leaving many people helpless in the streets and the number keep on rising on a daily basis. Cities like Detroit and New York are among the most populous with poor families and homeless people, making it important for government and other social agencies to find urgent solutionRead MoreHomelessness : Poverty And Lack Of Permanent And Stable Housing1244 Words   |  5 PagesHomelessness is the situation where individuals lack safe and adequate housing resulting in sleeping in the streets, their cars, and family or friends homes or in shelters. According to the United States Department of Housing and Urban Development (HUD), a homeless person is an individual who does not a have a permanent residence place, but rather has a temporary nighttime residence which is not designed for the accommodation of human bei ngs (National Health Care for the Homeless Council, n.d.) SuchRead MoreHealth Issues Among The Homeless Population1450 Words   |  6 PagesAbstract The purpose of this paper is to discuss current health issues among the homeless population. The paper will also explore the reasons behind homelessness and the society’s perception. According to the National Coalition for the Homeless an individual experiencing homelessness fall into one of the three categories such as, chronic, transitional or episodic homelessness. Medicine or treatment for homeless individuals seeking medical attention, are not as accessible compared to non-homelessRead MoreHomeless Population Of New South Wales1444 Words   |  6 PagesOverview â€Å"In a country as prosperous as Australia, no one should have to be homeless.† - The Road Home, 2008 Homelessness is a complex problem and not simply a lack of housing. It has numerous causes that affect different groups differently. In Australia, there are approximately 105000 people experiencing homelessness reported in the 2011 census. This equates to one in every two hundred people. The homeless population of New South Wales accounts for over one quarter of the total in Australia,Read MoreHomelessness : The Logical Solution1246 Words   |  5 PagesGrowth Homelessness: The Logical Solution Abstract: Homelessness is an issue, which plagues millions of Americans on a daily-basis. The current mainstream method of dealing with this issue has proven to be inefficient and extremely expensive, a burden which is passed onto society, despite the plethora of alternative methods which have a proven success rate and also have a much larger cost when compared to that associated with general homelessness in the country. Introduction: Homelessness in NewRead MoreThe Issue Of Homelessness Is Not A New Issue1432 Words   |  6 PagesThe issue of homelessness in remains an issue that is rarely acknowledged or discussed. Governments all around the world boast of all the work they are doing for their country, bringing up GDP, employment rate and promising even more. However, when the issue of homelessness is brought up, governments shy away, pretending that it is barely an issue in the country. Unfortunately, Canada is one of those countries. A study done in 2014 on the issue of homelessness in Canada found that approximately â€Å"235

Eyo Festival in Lagos Nigeria - 2555 Words

TOURISM The traditional relationship of Oba Liken of Ibefun and the people of Lagos and Ibiyeroye marriage may explain the notion that Eyo was introduced to Lagos from Ibefun. Chief Tajudeen Gbadesere revealed that, â€Å"the variant of Eyo staged was in the night entailing three consecutive outings in a performance where the use of Aropale and other paraphernalia were absent. Nevertheless, the place of Malaki and Ejilu in the historical origin of the fanciful Eyo play is brought out forcefully in a praise song rendered as: Malaki nsaye Nsaye Ejilu say a to. . . Ofi akala mode, mesi kole Olomu kole wa me Eyo Omowewe abese loni Eko Edi orikoda si irele (Chief Adisa Jinadu, 1986) Again, Ejilu and Malaki are credited for their role in the Awo Opa†¦show more content†¦They did not stay long when they learnt of Olugbanis death but left for Ibefun to perform funeral rites (Eyo) of Olori Olugbani†. However, history has shown that Ejilu and Malaki are two key personalities in the int roduction of Eyo to Lagos having decided to permanently reside in Lagos. Significantly, Olori Olugbani gave birth to her children Ologun Kutere and Sokun when the Eyo play was first held. Thus, the potency to attract favour and secure protection from the Almighty is strongly represented in Eyo. As there may be other accounts, prominently the colourful and exciting Eyo play is linked with the funeral obsequies of Olori Olugbani performed in Lagos by her kinsmen with the beautiful play whose cult originated from Benin. So, the emergent Adimu deity held in enthralling awe by all, depicted Shodipe (2001) as: â€Å"Woven in this cultural eloquence the deity (Adimu) and its train swept through the lanes and corridors of Idunganran (Palace of the Oba of Lagos) in exuberant cadence wheeling to the royal court to wake the Oba of Lagos to deliver tidings from the ancestral medium. Upon royal command, the Orisha Oruko hurried to the shrine of Orisha Adimu, the leader, the undisputed King of all Lagos deities and Leader of Eyo Adimu. It was the wake of dawn. At the heralding entrance of the purifying deity the spiritual enclave of Orisha Adimu lighted in jubilating estasy as the primevalShow MoreRelatedAgogoro Eyo Festival in Lagos, Nigeria4150 Words   |  17 PagesDEITIES OF THE AGOGORO EYO FESTIVAL By: Alaba kehinde Email: kennyfragile007@gmail.com Introduction The word Eyo also refers to the costumed dancers, known as the masquerade, that come out during the festival. The origins of this observance are found in the inner workings of the secret societies in lagos. It is widely believed that the play is one of the manifestations of the customary African revelry that serves as the forunner of the modern carnival in Brazil. On Eyo day, the mainhighway in theRead MoreEssay on History and Uniqueness of the Culture of Nigeria1499 Words   |  6 Pageswere built in the northern and southern regions of Nigeria. Although the Nigerian region had built up powerful kingdoms, they were not able to protect themselves from British colonization in the late 19th and 20th centuries. Empires had fallen, villages had separated, and the Europeans began to alter the lives of the native people. They had negotiated new boundaries within the country and their country was given a new name. According to the book Nigeria: A Bradt Travel Guide (2005), the British col onialRead MoreCreative : Creative And Creative Industries3206 Words   |  13 PagesCreative Arts in Nigeria Introduction Nigerian culture is shaped by her multiple ethnic groups. As the most populous African country with over 170 million people and an emerging economy, the country boasts of over 521 languages and more than 250 dialects and ethnic groups. The Hausa and Fulani are predominantly in the North, Igbo are in the south east and the Yorubas are in the south western part of Nigeria. These four ethnic groups are believed to be the four predominant ethnic groups while theRead MoreCorporate Social Responsibility in Nigerias Telecommunication Sector15201 Words   |  61 PagesTITLE PAGE CORPORATE SOCIAL RESPONSIBILITY IN NIGERIA’S TELECOMMUNICATION SECTOR A CASE STUDY OF GLOBACOM NIGERIA LIMITED ENUGU ZONE BY EZEIGWE, GRACE CHINYERE BA/2007/163 A PROJECT REPORT SUBMITTED TO THE DEPARTMENT OF BUSINESS ADMINSTRATION, CARITAS UNIVERSITY, AMORJI- NIKE, ENUGU, ENUGU STATE. IN PARTTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.Sc.) DEGREE IN BUSINESS ADMINISTRATION. AUGUST, 2010. CERTIFICATION

Financial Ratio Analysis of Firms

Question: Discuss about the Financial Ratio Analysis of Firms. Answer: Introduction:- The investment related decisions highly depends on the return generating capacity of the investment. Potential investors always intend to invest in such companies, which can provide higher returns. The investors and stakeholders can evaluate the potentiality of any company in respect to its return generating capacity by proper analysis of its past financial performances. Thomas Cook Group Plc. is a popular global travel company with having its headquarter at Peterborough in United Kingdom. Though, it is mainly UK based company, the company uses to operate around all over Europe. The basic operations of the company include world-wide tour-operating services and airline services in UK and Belgium. The company also runs the website, named Hotels4u, for booking hotels. Presently Thomas Cook Group has almost 33,000 employees and 3,000 service outlets. As per the turnover and operation, it is considered as the second largest travel company in allover UK and Europe, as well, after TUI travel. In the last few decades, tourism industry has developed quite significantly. Introduction of low fare airlines has triggered the development and attracted more clients, especially, from the third world countries. Like the other international travel companies, Thomas Cook has also enjoyed the benefits of the industrial growth. However, it has faced tough competition from many low budgeted regional travel companies. Moreover, the company also suffered from financial crisis in the last few years due to high rise in the fuel costs and the unstable political conditions in Middle East Northern Africa, which is one of the favored regions amongst European tourists. The report is prepared to evaluate the financial performances of Thomas Cook Group Plc. for investment related decisions. The financial performances of the company for the last five years have been evaluated under various aspects by using ratio analysis technique. Apart from the financial factors, other important non-financial factors have also been considered for the decision-making process. The financial performance of any company can be classified under different groups in accordance to the different financial aspects. The different aspects help to describe the financial condition of the company from different perspectives. Therefore, the performance evaluation should also be conducted under these different aspects for better analysis (Uechi et al. 2015). The financial performance of Thomas Cook is also evaluated under different aspects through related financial ratios. Profitability:- Profit is the primary objective for any form of business. All the business firms use to invest capital and operate its business activities to earn profit. It not only helps the business firm to fund its business operation but also is the source of returns to the investors of the firm. Hence, it is necessary to evaluate the profit generating capacity of the company before any investment. The profitability ratios of Thomas Cook are presented in the table below: Profitability Ratio Analysis:- Particulars 2016 2015 2014 2013 2012 Revenue (A) 7812 7834 8588 9315 9491.2 Gross Profit (B) 5990 6062 1868 2020 7415.9 Net Profit/Loss (D) 9 19 -115 -213 -590.1 Total Assets (F) 6955 5958 5794 6285 5906.8 Common Stock(H) 391 368 285 548 457.9 Current Liabilities (I) 4630 3702 3894 3688 3540.1 Capital Employed (J=F-I) 2325 2256 1900 2597 2366.7 Operating Profit (K) 205 211 54 13 -319.3 Gross Profit Margin Ratio (C/A) 76.68% 77.38% 21.75% 21.69% 78.13% Net Profit Margin (D/A) 0.12% 0.24% -1.34% -2.29% -6.22% Return on Capital Employed (K/J) 8.82% 9.35% 2.84% 0.50% -13.49% Return on Assets (A/F) 0.001 0.003 -0.02 -0.03 -0.10 Return on Equity (A/H)) 0.02 0.05 -0.40 -0.39 -1.29 The table exhibits that the gross profit margin of the company has fallen down in 2013 and 2012,but again it has increased quite significantly in the last two years. Though from 2012 to 2014, the company the net profit margins were negative, the company has been able to turn into positive. However, still the net profit margin in very low. It has also improved its return on capital employed over the period. Like the net profit margins, the return on assets and equity were also negative in the first three years and have begun to improve in the last two years, though the return rates are not satisfactory at all. It can be stated that from above discussions that from 2012 to 2014, due to high amount of operating and other non-operating expenses, the company could not convert its revenue and gross profits into net profit, rather ended up with net losses. However, it has shown some improvement in the last two years and has been able to generate some net profits. The company has also failed to utilize its assets for generating adequate amount of profit also. During the financial crisis, it had not provided ant return on equity. However, currently it is providing nominal rate of return to the invested equity capital (Babalola and Abiola 2013). Dividend and Market Performance:- Dividends and market performance in terms of stock market are two major factors, considered by the investors. The following table describes the dividend policy and market performances of the company: 2016 2015 2014 2013 2012 Earning Per Share 0.8 1.6 -8.2 -17.1 -67.2 Proposed Dividend 0.5 0 0 0 0 Book Value per Share 0.1 0.1 0.1 0.1 0.1 Market Value per Share 92.74 140.83 166.29 41.38 12.72 Total Assets 6955 5958 5794 6285 5906.8 Total Equity 391 368 285 548 458 Dividend Payout Ratio 63% 0% 0% 0% 0% Dividend Yield Rate 0.54% 0.00% 0.00% 0.00% 0.00% Assets Value per Share 1.78 1.62 2.03 1.15 1.29 P/E Ratio 115.93 88.02 -20.28 -2.42 -0.19 The table shows that the Dividend payout ratio and dividend yield rate, both were nil in the initial four years. It has been caused as the company was unable to pay dividends due to the huge losses, incurred in the first three years.. However, in the current year, the company has paid 63% of its net earnings as dividend. The dividend yield rate, which reflects the return rate in accordance to the market price per share, is presently 0.54%, which can be regarded as poor also. The P/E ratio describes the net earning generating capacity of any company in comparison to the market value per share. It had been negative also from 2012 to 2014. However from 2015, it has become positive and currently it is quite high comparing to the last 4 years. It can be sated that though the company was unable to provide any returns to its shareholders during the first few years, the market performance has improved in the last two years. The company is providing returns to the investors in terms of net earnings and dividends. However, the return rates are not very satisfactory in comparison to the other companies (Bodie et al. 2014). Financial Stability Liquidity:- Financial stability and liquidity position implies the financial strength of any business. Financial stability describes whether the business is able to continue its operation in long term or not. The stability ratios of Thomas Cook are shown below: b) Long-Term Stability Ratio Analysis:- 2016 2015 2014 2013 2012 Total Equity (A) 391 368 285 548 457.9 Total Liabilities (B) 6,564 5,590 5,509 5,737 5,449 Total Assets ( C) 6955 5958 5794 6285 5906.8 Debt to Equity Ratio (B/A) 16.79 15.19 19.33 10.47 11.90 Equity Ratio (A/C) 0.06 0.06 0.05 0.09 0.08 Debt Ratio (B/C) 0.94 0.94 0.95 0.91 0.92 The table states that the debt-to-equity ratio and debt ratio are very high, whereas, the equity ratio is too low for all the five years. It implies that the company uses to raise its capital mostly through debt financing. The assets are majorly funded by debt capital also. It may help the company to lower down its cost of capital, but it also indicates that the company does not have any internal reserve to continue its operation (Heikal et al. 2014). The liquidity ratios describes the ability of any firm to cover its current liabilities through its current assets. The ratios of Thomas Cook are calculated in the following table: c) Short-Term Liquidity Ratio Analysis:- 2016 2015 2014 2013 2012 Total Current Assets (A) 2656 2035 1829 1933 1524.2 Inventory (B) 43 52 34 38 30.5 Income before Interest Taxes ( C) 15 29 -106.8 -195.9 -373.9 Interest Expense (D) 6 10 8.2 17.1 216.2 Total Current Liabilities (F) 4630 3702 3894 3688 3540.1 Current Ratio (A/F) 0.57 0.55 0.47 0.52 0.43 Quick Ratio [(A-B)/F) 0.56 0.54 0.46 0.51 0.42 Time Interest Earned Ratio (C/D) 2.50 2.90 -13.02 -11.46 -1.73 From the table, it can be stated that the current ratios and quick ratios during the period were below 0.6. The time interest earned ratios over the first three year were negative, whereas, in the last two years, it is above 2. It indicates that the company does not maintain sufficient current assets to pay off its current liabilities. Moreover, due to huge losses, initially the company did not have the ability to pay its interest expenses out of its net income. However, after improving its profit earning capacity in the last two years, it has enough income to cover the interest expenses (Wahlen et al. 2014). There are many other financial factors, which may create impact on the market value of the company. The factors, which should be considered for evaluating Thomas Cook are described below: Important Information:- The important information, disclosed by the companies regarding its financial performance and other activities, often affect the market price of the stocks. Thomas Cook provides many important details in its official website. The quarterly and annual financial reports, published in the website, help the investors to evaluate the growth or downfall of the performance properly. Moreover, many corporate news, like, introduction of new own brand hotels and announcement of new partnership ventures with Fosun and Ingo Burmester, also create impact on the performances (Thomascookgroup.com, 2017). Such news helps the company to attract new investors and increase the share value in the stock market. Market Report:- Apart from the companys reports, it is necessary to analyze the market reports of the company from various sources. The UK tourism statistics report for 2015 provides detail description of the industry performance for the last few years. It states that the huge loss, incurred by Thomas Cook in the initial period, were not caused only for the poor performance of the company. Most of the large travel companies, as well as, the airlines companies, faced the same consequences. It had been caused due to drastic increase of fuel costs. The travel companies were unable to provide economic tour packages to the clients and loss many customers accordingly. Many customers shifted to lower budgeted packages, offered by the small travel companies. However, within the last few years, the large travel companies have developed many economic plans to recover its clients. It has been observed that to offer low budget tour packages and maintain the service quality, as well, most of large travel agencies have merged with small airlines companies so that they can control the travel cost accordingly (www.tourismallianc e.com, 2017). Thomas Cook has also introduced its own airlines company under the brand name Condor. It has also planned to introduce own hotel chains. Thus, the company is not only trying to reduce the travelling cost, but also, the accommodation and fooding costs, as well. Higher Management:- Higher management and the board directors of any company use to take all the important decisions. Hence, the credentials of the higher management and the directors should be checked also for investment decisions. The board of directors of Thomas Cook is consisted with one chairman, two executive directors and five non-executive directors. Currently, Peter Fankhauser is the Group Chief Executive Officer, who governs over all the departments of the company and Michael Healy, the other executive director, looks over the finance department mainly. The other non-executive directors work independently (Thomascookgroup.com, 2017). Conclusion:- From the above discussion, it can be stated that Thomas Cook Group Plc. was suffering from financial crisis for the last few years due to the poor performance of the company and overall tourism industry, as well. Currently it is recovering its financial strength and financial position gradually. The company has begun to earn profit again, but the profit margins are very low. Moreover, the company has still not recovered its financial strength completely. It has large debts in the market. The liquidity position is also not stable yet. The asset value per share of the company, as shown above, is very low in comparison to the market price per share. It indicates that the market price of the company stocks is overvalued, as it is not supported by sufficient amount of asset. However, the poor financial performance of Thomas Cook is a result of industrial downfall. The company has taken several initiatives to improve its financial position in the next few years. Therefore, it can be concluded that though Thomas Cook Group Plc. has shown improvement in its performance in the recent years, considering its poor return rate and unstable financial strength, it is better to invest in its stock after observing its performance for the next year also. References Babalola, Y.A. and Abiola, F.R., 2013. Financial ratio analysis of firms: A tool for decision making.International journal of management sciences,1(4), pp.132-137 Bodie, Z., Kane, A. and Marcus, A.J., 2014.Investments, 10e. McGraw-Hill Education Heikal, M., Khaddafi, M. and Ummah, A., 2014. Influence analysis of return on assets (ROA), return on equity (ROE), net profit margin (NPM), debt To equity ratio (DER), and current ratio (CR), against corporate profit growth in automotive In Indonesia stock exchange.International Journal of Academic Research in Business and Social Sciences,4(12), p.101 Horngren, C.T., Sundem, G.L., Schatzberg, J.O. and Burgstahler, D., 2013.Introduction to management accounting. Pearson Higher Ed. Kaplan, R.S. and Atkinson, A.A., 2015.Advanced management accounting. PHI Learning Thomascookgroup.com. (2017).Thomas Cook Group Board of Directors. [online] Available at: https://www.thomascookgroup.com/board-of-directors/ [Accessed 10 Feb. 2017]. Thomascookgroup.com. (2017).Thomas Cook Group Corporate News. [online] Available at: https://www.thomascookgroup.com/category/corporate-news/ [Accessed 10 Feb. 2017]. Thomascookgroup.com. (2017).Thomas Cook Group Reports and Presentations. [online] Available at: https://www.thomascookgroup.com/reports-and-presentations/ [Accessed 10 Feb. 2017]. Uechi, L., Akutsu, T., Stanley, H.E., Marcus, A.J. and Kenett, D.Y., 2015. Sector dominance ratio analysis of financial markets.Physica A: Statistical Mechanics and its Applications,421, pp.488-509 Wahlen, J., Baginski, S. and Bradshaw, M., 2014.Financial reporting, financial statement analysis and valuation. Nelson Education Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015.Financial Managerial Accounting. John Wiley Sons www.tourismalliance.com. (2017).UK Tourism Statistics. [online] Available at: https://www.tourismalliance.com/downloads/TA_390_415.pdf [Accessed 10 Feb. 2017]. Financial Ratio Analysis of Firms Questions: 1. Identify the profits, earnings- discuss, the 5 years trend, economic condition, calculate the ratios and interpret the results for 5 years on the financial performance? 2. Identify dividends (including a comprehensive ratio analysis) calculate the ratios and interpret the results for 5 years on the financial performance? 3. Financial stability and liquidity (including a comprehensive ratio analysis)calculate the ratios and interpret the results for 5 years on the financial performanc? 4. Research the webpage for any information about the companys performance or any news that has an impact on their performance? Answers: Introduction:- The investment related decisions highly depends on the return generating capacity of the investment. Potential investors always intend to invest in such companies, which can provide higher returns. The investors and stakeholders can evaluate the potentiality of any company in respect to its return generating capacity by proper analysis of its past financial performances. Thomas Cook Group Plc. is a popular global travel company with having its headquarter at Peterborough in United Kingdom. Though, it is mainly UK based company, the company uses to operate around all over Europe. The basic operations of the company include world-wide tour-operating services and airline services in UK and Belgium. The company also runs the website, named Hotels4u, for booking hotels. Presently Thomas Cook Group has almost 33,000 employees and 3,000 service outlets. As per the turnover and operation, it is considered as the second largest travel company in allover UK and Europe, as well, after TUI travel. In the last few decades, tourism industry has developed quite significantly. Introduction of low fare airlines has triggered the development and attracted more clients, especially, from the third world countries. Like the other international travel companies, Thomas Cook has also enjoyed the benefits of the industrial growth. However, it has faced tough competition from many low budgeted regional travel companies. Moreover, the company also suffered from financial crisis in the last few years due to high rise in the fuel costs and the unstable political conditions in Middle East Northern Africa, which is one of the favored regions amongst European tourists. The report is prepared to evaluate the financial performances of Thomas Cook Group Plc. for investment related decisions. The financial performances of the company for the last five years have been evaluated under various aspects by using ratio analysis technique. Apart from the financial factors, other important non-financial factors have also been considered for the decision-making process. The financial performance of any company can be classified under different groups in accordance to the different financial aspects. The different aspects help to describe the financial condition of the company from different perspectives. Therefore, the performance evaluation should also be conducted under these different aspects for better analysis (Uechi et al. 2015). The financial performance of Thomas Cook is also evaluated under different aspects through related financial ratios. 1. Profitability:- Profit is the primary objective for any form of business. All the business firms use to invest capital and operate its business activities to earn profit. It not only helps the business firm to fund its business operation but also is the source of returns to the investors of the firm. Hence, it is necessary to evaluate the profit generating capacity of the company before any investment. The profitability ratios of Thomas Cook are presented in the table below: Profitability Ratio Analysis:- Particulars 2016 2015 2014 2013 2012 Revenue (A) 7812 7834 8588 9315 9491.2 Gross Profit (B) 5990 6062 1868 2020 7415.9 Net Profit/Loss (D) 9 19 -115 -213 -590.1 Total Assets (F) 6955 5958 5794 6285 5906.8 Common Stock(H) 391 368 285 548 457.9 Current Liabilities (I) 4630 3702 3894 3688 3540.1 Capital Employed (J=F-I) 2325 2256 1900 2597 2366.7 Operating Profit (K) 205 211 54 13 -319.3 Gross Profit Margin Ratio (C/A) 76.68% 77.38% 21.75% 21.69% 78.13% Net Profit Margin (D/A) 0.12% 0.24% -1.34% -2.29% -6.22% Return on Capital Employed (K/J) 8.82% 9.35% 2.84% 0.50% -13.49% Return on Assets (A/F) 0.001 0.003 -0.02 -0.03 -0.10 Return on Equity (A/H)) 0.02 0.05 -0.40 -0.39 -1.29 The table exhibits that the gross profit margin of the company has fallen down in 2013 and 2012,but again it has increased quite significantly in the last two years. Though from 2012 to 2014, the company the net profit margins were negative, the company has been able to turn into positive. However, still the net profit margin in very low. It has also improved its return on capital employed over the period. Like the net profit margins, the return on assets and equity were also negative in the first three years and have begun to improve in the last two years, though the return rates are not satisfactory at all. It can be stated that from above discussions that from 2012 to 2014, due to high amount of operating and other non-operating expenses, the company could not convert its revenue and gross profits into net profit, rather ended up with net losses. However, it has shown some improvement in the last two years and has been able to generate some net profits. The company has also failed to utilize its assets for generating adequate amount of profit also. During the financial crisis, it had not provided ant return on equity. However, currently it is providing nominal rate of return to the invested equity capital (Babalola and Abiola 2013). 2. Dividend and Market Performance:- Dividends and market performance in terms of stock market are two major factors, considered by the investors. The following table describes the dividend policy and market performances of the company: The table shows that the Dividend payout ratio and dividend yield rate, both were nil in the initial four years. It has been caused as the company was unable to pay dividends due to the huge losses, incurred in the first three years.. However, in the current year, the company has paid 63% of its net earnings as dividend. The dividend yield rate, which reflects the return rate in accordance to the market price per share, is presently 0.54%, which can be regarded as poor also. The P/E ratio describes the net earning generating capacity of any company in comparison to the market value per share. It had been negative also from 2012 to 2014. However from 2015, it has become positive and currently it is quite high comparing to the last 4 years. It can be sated that though the company was unable to provide any returns to its shareholders during the first few years, the market performance has improved in the last two years. The company is providing returns to the investors in terms of net earnings and dividends. However, the return rates are not very satisfactory in comparison to the other companies (Bodie et al. 2014). 3. Financial Stability Liquidity: Financial stability and liquidity position implies the financial strength of any business. Financial stability describes whether the business is able to continue its operation in long term or not. The stability ratios of Thomas Cook are shown below: b) Long-Term Stability Ratio Analysis:- 2016 2015 2014 2013 2012 Total Equity (A) 391 368 285 548 457.9 Total Liabilities (B) 6,564 5,590 5,509 5,737 5,449 Total Assets ( C) 6955 5958 5794 6285 5906.8 Debt to Equity Ratio (B/A) 16.79 15.19 19.33 10.47 11.90 Equity Ratio (A/C) 0.06 0.06 0.05 0.09 0.08 Debt Ratio (B/C) 0.94 0.94 0.95 0.91 0.92 The table states that the debt-to-equity ratio and debt ratio are very high, whereas, the equity ratio is too low for all the five years. It implies that the company uses to raise its capital mostly through debt financing. The assets are majorly funded by debt capital also. It may help the company to lower down its cost of capital, but it also indicates that the company does not have any internal reserve to continue its operation (Heikal et al. 2014). The liquidity ratios describes the ability of any firm to cover its current liabilities through its current assets. The ratios of Thomas Cook are calculated in the following table: c) Short-Term Liquidity Ratio Analysis:- 2016 2015 2014 2013 2012 Total Current Assets (A) 2656 2035 1829 1933 1524.2 Inventory (B) 43 52 34 38 30.5 Income before Interest Taxes ( C) 15 29 -106.8 -195.9 -373.9 Interest Expense (D) 6 10 8.2 17.1 216.2 Total Current Liabilities (F) 4630 3702 3894 3688 3540.1 Current Ratio (A/F) 0.57 0.55 0.47 0.52 0.43 Quick Ratio [(A-B)/F) 0.56 0.54 0.46 0.51 0.42 Time Interest Earned Ratio (C/D) 2.50 2.90 -13.02 -11.46 -1.73 From the table, it can be stated that the current ratios and quick ratios during the period were below 0.6. The time interest earned ratios over the first three year were negative, whereas, in the last two years, it is above 2. It indicates that the company does not maintain sufficient current assets to pay off its current liabilities. Moreover, due to huge losses, initially the company did not have the ability to pay its interest expenses out of its net income. However, after improving its profit earning capacity in the last two years, it has enough income to cover the interest expenses (Wahlen et al. 2014). There are many other financial factors, which may create impact on the market value of the company. The factors, which should be considered for evaluating Thomas Cook are described below: 4. Important Information:- The important information, disclosed by the companies regarding its financial performance and other activities, often affect the market price of the stocks. Thomas Cook provides many important details in its official website. The quarterly and annual financial reports, published in the website, help the investors to evaluate the growth or downfall of the performance properly. Moreover, many corporate news, like, introduction of new own brand hotels and announcement of new partnership ventures with Fosun and Ingo Burmester, also create impact on the performances (Thomascookgroup.com, 2017). Such news helps the company to attract new investors and increase the share value in the stock market. Market Report:- Apart from the companys reports, it is necessary to analyze the market reports of the company from various sources. The UK tourism statistics report for 2015 provides detail description of the industry performance for the last few years. It states that the huge loss, incurred by Thomas Cook in the initial period, were not caused only for the poor performance of the company. Most of the large travel companies, as well as, the airlines companies, faced the same consequences. It had been caused due to drastic increase of fuel costs. The travel companies were unable to provide economic tour packages to the clients and loss many customers accordingly. Many customers shifted to lower budgeted packages, offered by the small travel companies. However, within the last few years, the large travel companies have developed many economic plans to recover its clients. It has been observed that to offer low budget tour packages and maintain the service quality, as well, most of large travel agencies have merged with small airlines companies so that they can control the travel cost accordingly (www.tourismallianc e.com, 2017). Thomas Cook has also introduced its own airlines company under the brand name Condor. It has also planned to introduce own hotel chains. Thus, the company is not only trying to reduce the travelling cost, but also, the accommodation and fooding costs, as well. Higher Management:- Higher management and the board directors of any company use to take all the important decisions. Hence, the credentials of the higher management and the directors should be checked also for investment decisions. The board of directors of Thomas Cook is consisted with one chairman, two executive directors and five non-executive directors. Currently, Peter Fankhauser is the Group Chief Executive Officer, who governs over all the departments of the company and Michael Healy, the other executive director, looks over the finance department mainly. The other non-executive directors work independently (Thomascookgroup.com, 2017). Conclusion:- From the above discussion, it can be stated that Thomas Cook Group Plc. was suffering from financial crisis for the last few years due to the poor performance of the company and overall tourism industry, as well. Currently it is recovering its financial strength and financial position gradually. The company has begun to earn profit again, but the profit margins are very low. Moreover, the company has still not recovered its financial strength completely. It has large debts in the market. The liquidity position is also not stable yet. The asset value per share of the company, as shown above, is very low in comparison to the market price per share. It indicates that the market price of the company stocks is overvalued, as it is not supported by sufficient amount of asset. However, the poor financial performance of Thomas Cook is a result of industrial downfall. The company has taken several initiatives to improve its financial position in the next few years. Therefore, it can be concluded that though Thomas Cook Group Plc. has shown improvement in its performance in the recent years, considering its poor return rate and unstable financial strength, it is better to invest in its stock after observing its performance for the next year also. References Bibliography:- Babalola, Y.A. and Abiola, F.R., 2013. Financial ratio analysis of firms: A tool for decision making.International journal of management sciences,1(4), pp.132-137 Bodie, Z., Kane, A. and Marcus, A.J., 2014.Investments, 10e. McGraw-Hill Education Heikal, M., Khaddafi, M. and Ummah, A., 2014. Influence analysis of return on assets (ROA), return on equity (ROE), net profit margin (NPM), debt To equity ratio (DER), and current ratio (CR), against corporate profit growth in automotive In Indonesia stock exchange.International Journal of Academic Research in Business and Social Sciences,4(12), p.101 Horngren, C.T., Sundem, G.L., Schatzberg, J.O. and Burgstahler, D., 2013.Introduction to management accounting. Pearson Higher Ed. Kaplan, R.S. and Atkinson, A.A., 2015.Advanced management accounting. PHI Learning Thomascookgroup.com. (2017).Thomas Cook Group Board of Directors. [online] Available at: https://www.thomascookgroup.com/board-of-directors/ [Accessed 10 Feb. 2017]. Thomascookgroup.com. (2017).Thomas Cook Group Corporate News. [online] Available at: https://www.thomascookgroup.com/category/corporate-news/ [Accessed 10 Feb. 2017]. Thomascookgroup.com. (2017).Thomas Cook Group Reports and Presentations. [online] Available at: https://www.thomascookgroup.com/reports-and-presentations/ [Accessed 10 Feb. 2017]. Uechi, L., Akutsu, T., Stanley, H.E., Marcus, A.J. and Kenett, D.Y., 2015. Sector dominance ratio analysis of financial markets.Physica A: Statistical Mechanics and its Applications,421, pp.488-509 Wahlen, J., Baginski, S. and Bradshaw, M., 2014.Financial reporting, financial statement analysis and valuation. Nelson Education Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015.Financial Managerial Accounting. John Wiley Sons www.tourismalliance.com. (2017).UK Tourism Statistics. [online] Available at: https://www.tourismalliance.com/downloads/TA_390_415.pdf [Accessed 10 Feb. 2017].

Why You Must Try Self-Publishing

Have you been plodding the path of traditional publishing? Trying to find an agent or publisher to look at your work, with no success? Is your ego bruised and beaten from the constant rejection? Well, if you’ve had it up to here with the battering from conventional publishing companies, read on for a solution to your woes. Really, why do we persist in pursuing something so painful when the option of self-publishing is now so readily available? Gone are the days of the misunderstood author who can’t catch a break. Today, a writer can take on the responsibility and control of their publishing destiny, independent of agents, publishers and poor royalties. Excited? Then, let’s explore why an author would want to do that, and how. Creative Control When you choose to self-publish, you and your resources are responsible for the input of all creative content. This means you’ll be involved in every step of the production process with complete authority to create what you like, when you like. You’ll be making decisions about: writing proofreading editing formatting artwork, illustrations, and book covers budgets release dates marketing and promotions With traditional publishing, the author is usually only involved in the first two points, writing and proofreading. As an independently published author, you have full control over all aspects of getting your book to market. That doesn’t mean you have to do everything yourself, of course. One of the common themes of the successful indie author is the recommendation to hire professionals to handle some of the aesthetics. Formatting, artwork and book covers can all be successfully contracted out to industry experts if you don’t have the inclination or skills to do the work yourself. The point is to have a polished product that meets a high standard of professionalism – you want your book to look its best. Business Control As an indie author you retain all rights to your work and control the destiny of your business. Copyright, reprinting and distribution remain within the scope of your business domain. And as the business owner, you’ll have full authority over the following: Imprinting. You’ll need to establish a business identity if you plan on selling any of your books, as you then become a retailer. Price point. What price will you determine for your work? This article from Jane Litte at dearauthor.com has some interesting insights and observations on digital pricing. Budgets. Determine your budgets for any contracting services as well as marketing and promotions, because initially they’ll be coming out of your pocket. Until your sales with decent royalties fill the coffers again, that is. Publishing platform. You get to choose which of the self-publishing platforms will best serve your needs. You get paid monthly. Any distribution outlets that carry your books, such as Amazon, Barnes Nobel, Borders etc., will pay out on royalties on a monthly basis. Faster Publication A common complaint about old-fashioned publishing is the length of time it takes from signing a contract, to when the book arrives in the stores. An eighteen to twenty four months time frame is not uncommon. And that’s after the time it took to find an agent and a publisher. If your material is of a time sensitive nature, such as technology, medicine, science or current events, that’s simply too long. With self-publishing, you can have your published book ready for purchase within days or weeks you determine the pace. You Pocket the Profits Traditional publishers pay anywhere from between 6 – 25% royalties. As a self- published author, you keep 100% of the profits if you sell direct. Outlets such as Amazon pay up to 70% royalties on sales (if priced in their golden mean of between $2.99 and $9.99, royalties drop to 35% above or below those prices). If you want an idea of what royalties will come your way at each price point, check out the Amazon Royalties Estimator in the sidebar of Joe Konrath’s blog. It’s great for dreaming big. Steps to Self-Publishing If you’ve made the bold decision to go down the self-publishing route, congratulations! You’re in for quite a trip! And the following partial list taken from A Newbie’s Guide to Self Publishing by J.A. Konrath will help you on your way. Set your goal. First establish why you’re publishing to decide how to publish. This step will determine which self-publishing model to choose from; print-on-demand, vanity, subsidy, etc. Determine your price point. Do some research for pricing in your genre to decide where in Smashword’s sweet spot price range, your book will best be suited. Format your book. Do it yourself or hire someone. But if you plan on selling your book, do remember that appearances count. That first impression is important, so give your book a professional look and show that you mean business. Design your book cover. Lots of fun in this creative step, but again, maintain a high standard of professionalism at all stages. Write your product description. Pack your description with pertinent info and similar in style to that of others in your genre. Publish and publicize. Upload your digital version to the platform of your choice, and use social media to announce your release dates. Sure, there are more initial costs to self-publishing a book than with an established publishing house, and you do have all the responsibilities. It takes a lot of time, effort and energy to publish independently, but so does any solo entrepreneurial effort. It’s a business, and if you treat it as such you’ll enjoy the profits that come with running a successful business. And while self-publishing may not appeal to all writers, isn’t it great to know that the option exists if you do want to take control of your own publication empire?