Financial Ratio Analysis on Morrison Supermarket PLC. Essay

Financial Ratio Analysis on Morrison Supermarket PLC: Assignment 1 Contents Page 1.0 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.2 2.0 Calculations and Analysis of Findings with Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...2-6 3.0 Discussion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 4.0 Conclusion †¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Appendices†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8-11 Reference List †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12-13 1.0 Introduction The financial report aims to provide potential investors, lenders, shareholders (or directors on their behalf) and management an objective insight into the performance and profitability of Morrison during the period†¦show more content†¦There seems to be a trend in the ROCE for Morrison, as the percentage of ROCE is falling. This suggests that Morrison is becoming less efficient with their capital. However, with the interest rates at 4% (before tax) in 2011 and 2012 (Morrison plc, 2012), the company covers the rate it pays for its borrowed funds convincingly. Compared with Tesco, Morrison is slightly more profitable on average capital employed in 2012. However, Morrison’s managers must avoid the trend in falling ROCE by improving the distribution of capital in order to maintain their advantage over Tesco. 2.2 Efficiency Ratios for Morrison 2009-2012, and Tesco 2012 Morrison Supermarkets PLC 2009 2010 2011 2012 Tesco PLC 2012 Average Inventory Turnover Period (AITP) (days) 13.2 14.7 15.2 16.9 22.2 Average Settlement Period for Trade Payables (ASTP) (days) 38.7 34.3 33.3 31.3 36.7 Sales Revenue to Capital Employed (on average) (SRCE) 3.3 2.4 2.4 2.4 2.1 Refer to table 3 for comprehensive findings. Refer to the summary table of the income statement and balance sheet in appendices. Information obtained from the annual reports of Morrison 2009-2010, 2010-2011 and 2011-2012, and Tesco 2011-2012. The AITP ratio measures the average period a firm holds on to their stock in days during a given period (Atrill and McLaney, 2011). There has been a steady increase in Morrison’s AITPShow MoreRelatedA Report On Tesco Plc1711 Words   |  7 PagesIntroduction The purpose of this report is to applies financial ratios analysis indicators in specific to analysis ,comparisons and evaluation of annual report of Tesco PLC and Wm Morrison supermarket PLC .It will be focus on following respects (1)Comparing Tesco PLC and Morrison PLC between 2013 and 2014 respectively. 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Financial performance analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.2 4. OperatingRead MoreAnalysis Of X Ray Tesco : Financial Analysis3132 Words   |  13 PagesACTUARIAL SCIENCE FINANCE AND FINANCIAL REPORTING X-Ray Tesco PLC - Financial Analysis Jessica Franco STUDENT NUMBER: 149041918 May 2015 Executive Summary The company Tesco PLC is currently the biggest retailer in the UK and it is one of the top five on the world stage by market share. At the time of writing (April 2015) the business giant faces a costly scandal for inconsistencies in its financial statements. This report aims to analyse the financial performance of Tesco during the last

A Comparison of One Flew Over the Cuckoos Nest and Dead...

One Flew Over the Cuckoos Nest Vs. Dead Poets Society Two roads diverged in a wood, and I-I took the one less traveled by, and that has made all the difference. (Robert Frost) In todays world there is no tolerance for the individual thinker. It is not acceptable to modify or bend the rules of society. Society is civilized, and to be civilized there must be rules, regulations and policies that prevent. Individuality leads to a mess of chaos. To prevent disorder, institutions in society keep these rules strongly enforced. Man creates these institutions in order to provide convenience and stability in everyday life. Then instead of man running these institutions, the institutions begin to reverse the role of power and†¦show more content†¦In Ken Keseys novel One Flew Over the Cuckoos Nest the patients in a mental institution are put through a restorative treatment in order to follow the line and fit into society. McMurphy, he who breaks boundaries inspires the rest of the patients to live their lives when they are slow ly giving up their struggle for life, to rebel against the authority of the Big Nurse and her undermining attempts to get them to submit to her power and rules. Uniformly disturbing the principal at Welton Academy and a group of determined parents attempt to conform the lives of their children to the ideals of society in the movie Dead Poets Society. The students follow the new ideas brought on by a teacher only to learn of the obstacles that face them. A romantic non-conformist, McMurphy and Keeting who challenge the system and its leaders in turn becoming the ultimate sacrifice, brings them to a new vision. They inspire the oppressed and give them confidence to be successful like Bromden and Todd or to reject reality and fail like Billy and Neil. Nurse Ratched is the Head Nurse in the mental hospital and uses the policy and her own authority in order to take advantage of the frail condition that the patients are in. She feeds off their pain and suffering. Nurse Ratched is often referred to as the Big Nurse;Show MoreRelatedPostmodernism in Literature5514 Words   |  23 Pagesthe possibility of meaning, and the postmodern novel is often a parody of this quest. This distrust of totalizing mechanisms extends even to the author; thus postmodern writers often celebrate chance over craft and employ metafiction to undermine the authors univocal control (the control of only one voice). The distinction between high and low culture is also attacked with the employment of pastiche, the combination of multiple cultural elements including subjects and genres not previously deemed

Alligator Cracking Free Essays

ALLIGATOR CRACKING AN INTRODUCTION :- Crocodile cracking, also called fatigue cracking or alligator cracking, is a common type of distress in asphalt pavement. Crocodile cracking is characterized by interconnecting or interlaced cracking in the asphalt layer resembling the hide of a crocodile. Cell sizes can vary in size up to 300 millimetres (12  in) across, but are typically less than 150 millimetres (5. We will write a custom essay sample on Alligator Cracking or any similar topic only for you Order Now 9  in) across. Crocodile cracking is generally a loading failure, but numerous factors can contribute to it. It is often a sign of sub-base failure, poor drainage, or repeated over-loadings. It is important to prevent crocodile cracking, and repair as soon as possible, as advanced cases can be very costly to repair and can lead to formation of potholes or premature pavement failure. CAUSES OF ALLIGATOR CRACKING :- * Crocodile cracking is an asphalt pavement distress most often instigated by failure of the surface due to traffic loading. * Crocodile cracking can be greatly influenced by environmental and other effects while traffic loading remains the direct cause. Frequently, overloading happens because the base or subbase inadequately support the surface layer and subsequently cannot handle loads that it would normally endure. Poor drainage in the road bed is a frequent cause of this degradation of the base or subgrade. A heavy spring thaw, similarly to poor drainage, can weaken the base course, leading to crocodile cracking. * Stripping or raveling is another possible cause of crocodile cracking. Stripping occurs when poor adhesion between asphalt and aggregate allows the aggregate at the surface to dislodge. If left uncorrected, this reduces the thickness of the pavement, reducing the affected portion’s ability to carry its designed loading. This can cause crocodile cracking to develop rapidly, as overloading will happen with loads of less magnitude or frequency. CAUSES OF ALLIGATOR CRACKING :- Failure of surface due to loading Stripping of bitumen due to poor adhesion of bitumen ; asphalt Environmental conditions :- (a) Due to excessive rain b) hot weather (c) frost action CHARACTERISTICS or IDENTIFICATION :- * Crocodile cracking manifests itself initially as longitudinal cracking (cracks along the direction of the flow of traffic) in the top layer of the asphalt. * These cracks are initially thin and sparsely distributed. If further deterioration is allowed, these longitudinal cracks are connected by transverse cracks to form sharp sided, prismatic pieces. * This interlaced cracking pattern resembles the scales on the back of a crocodile or alligator, hence the name, alligator cracking. * More severe cases involve pumping of fines, spalling, and loose pieces of pavement. * The most severe cases of crocodile cracking of ten occur with other pavement distresses, but are exemplified by: potholes, large cracks(3/8†³ or larger), and severely spalled edges. MEASUREMENT QUANTIFICATION :- There are many different ways to measure crocodile cracking, but in general a pavement distress manual or index will be used. For example, the Pavement Condition Index is widely used to quantify the overall level of distress and condition of a section of road. Measurement of crocodile cracking specifically(and pavement distress in general) is necessary to determine the overall condition of a road, and for determination of a time-line for rehabilitation and/or repair. There are many other rating systems, and many rating systems currently in use are based on the AASHO Road Test. There are two important criteria to take into effect when measuring crocodile cracking. The first is the extent of the cracking. This is the amount of road surface area which is affected by this pavement distress. The second criterion is the severity of the cracking. Severity, which has been discussed above, refers to how far the cracking has progressed, and is often directly a function of crack width. Severity may be rated numerically, or given a rating from â€Å"low† to â€Å"severe†. The rating may be entered into a pavement management system, which will suggest a priority and method for the repair. Systems have been developed that detect crocodile and other types of pavement distress automatically. They measure the severity and frequency of alligator cracking on the road-path. One such machine is the road surface profilometer, which is mounted on a vehicle and measures the profile of the road surface while it is moving down the roadway. PREVENTION REPAIR :- Preventing crocodile cracking can be as simple as preventing the common causes. Reducing overloading on an asphalt pavement or improving drainage can prevent crocodile cracking in many cases. However, often the specific cause is fairly difficult to determine, and prevention becomes difficult correspondingly. A good strategy to prevent overloading, which is a main cause of crocodile cracking, is to increase the depth of the asphalt layer. According to certain researchers, pavements of a minimum strength or thickness can hypothetically handle infinitely many loads without showing structural defects, including crocodile (fatigue) cracking. These pavements are called perpetual pavements. When repairing pavement affected by crocodile cracking, the main cause of the distress should be determined. Any investigation should involve digging a pit or coring the pavement and subbase to determine the pavement’s structural makeup as well as determining whether or not subsurface moisture is a contributing factor. The repair needed also differs based on the severity and extent of the cracking. In the early stages, sealing cracks with crack sealant limits further deterioration of the subgrade due to moisture penetration. Small areas may be repaired by removal of the affected area, and replacement with new base and asphalt surface. Once the damage has progressed, a structural asphalt overlay or complete reconstruction may be necessary. CONCLUSION When repairing pavement affected by crocodile cracking, the main cause of the distress should be determined. However, often the specific cause is fairly difficult to determine, and prevention is therefore correspondingly difficult. Any investigation should involve digging a pit or coring the pavement and sub base to determine the pavement’s structural makeup as well as determining whether the moisture is a contributing factor. Small areas may be repaired by removal of the affected area, and replacement with new base and asphalt surface. Once the damage has progressed or the affected area is large and extensive, a structural asphalt overlay or complete reconstruction is necessary to ensure structural integrity. If the government also takes necessary action by giving an yardstick of the maximum ESWL that can be allowed, then cracking can be prevented. However in practical it is not possible always. Our conciousness also plays a great role. If we can understand what can cause cracking and take necessary action, then it can be prevented. How to cite Alligator Cracking, Essay examples

Blue Collar Student Are Jobs Good Or free essay sample

Blue Collar Student: Are Jobs Good Or Bad? Essay, Research Paper Blue Collar Student: Are Jobs Good or Bad? Brian Woy Are portion clip occupations good or bad for a pupil? This is an interesting inquiry that pertains to about half of all high school pupils. Jobs provide pupils with many different qualities but at what cost? This will be the subject of treatment in this paper. Part clip occupations are as common to pupils as mooing is to cattles. Many pupils happen it necessary to hold a occupation after school and during the summer. One benefit of holding a occupation is it builds character in oneself. Having a duty at work and working with others physiques 1s leading and teamwork abilities. Students besides have the ability to gain some excess money to assist pay for a auto and the insurance required to drive it. It besides allows pupils to acquire a sense of independency as they are non ever trusting on ma and pa to give them money. We will write a custom essay sample on Blue Collar Student Are Jobs Good Or or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For illustration, your friend Jim has a occupation doing sundaes at dairy queen. Jim plants about 24 hours a hebdomad and makes $ 4.50 an hr. At the terminal of that hebdomad, Jim has $ 80 that he can name his ain. Jim could travel to the films, purchase a new brace of places, or make whatever he wants to make with it. Jim worked difficult for his money and after all, it is his money. Another option to disbursement this difficult earned money is to salvage it in a bank and utilize it for college. This is all all right and bang-up but what about school an d the prep instructors send place. If a pupil does hold a portion clip occupation when will he acquire this work done. Part clip occupations can take away the cherished clip that pupils need to analyze and make prep. Let # 8217 ; s merely state for case that our friend Jim has a concluding test tomorrow. Wait a minute though, it # 8217 ; s Thursday and Jim works from 4 to 10. Jim has no clip to analyze before he goes to work so he figures he # 8217 ; ll make it after work. Jim gets swamped at Dairy Queen and by the terminal of his displacement, he # 8217 ; s so tired he can hardly drive place. When Jim does acquire place, he cracks the books and starts analyzing about Beowulf. After about 10 proceedingss of that, Jim is fast asleep and before you know it, Jim # 8217 ; s ma is stating him to wake up. Jim takes is exam, cognizing nil about Beowulf, the Anglo-saxons or anything else that was on his English test and to no suprise, he gets an? F. ? Because of his occupation Jim had no clip to analyze and will now trust to go director of the Dairy Queen where he works. Jobs can interfere with 1s # 8217 ; school work and do all sorts of problem. Jobs are of import character builders and can be existent helpful to a pupil. On the other side, a occupation can be a pupils worst incubus, and do them to go a full clip employee alternatively of a portion clip employee. It takes a batch of assurance, motive, and clip direction to make both, but in the terminal, a pupil will hold an thought of the universe that is at that place for him to research.