...An unidentified flying object, often abbreviated UFO , is an unusual apparent anomaly in the sky that is not readily identifiable to the observer as any known object. Originally referred to popularly as "flying saucers" during the late 40's, the term UFO became more widespread during the 50s at first in professional literature, but later in popular language. UFOs garnered considerable interest during the Cold War, an era associated with a hightened concern for national security. Various studies, both governmental and civilian, have concluded that the phenomenon does not represent a threat to national security nor does it contain anything worthy of scientific persuit, although there is disagreement. Culturally, the phenomenon has often been associated with extraterrestrial life or government-related conspiracy theories, and thus has become a popular theme in fiction. Studies have established that the majority of UFO observations are misidentified conventional objects or natural phenomena—most commonly aircraft, balloons, noctilucent clouds, nacreous clouds, or astronomical objects such as meteors or bright planets with a small percentage even being hoaxes.[7] After excluding incorrect reports, however, most investigators have acknowledged that between 5% and 20% of reported sightings remain unexplained, and therefore can be classified as unidentified in the strictest sense. Many reports have been made by such trained observers as pilots, police, and the military; some have involved...
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...Finance Theory II (Corporate Finance) Katharina Lewellen February 5, 2003 1 Today Preliminaries Introduction to the course Corporate finance Types of questions Course outline Course requirements Case of Unidentified Industries 2 Preliminaries Texts − Brealey & Myers, Principles of Corporate Finance, 7th edition − Higgins, Analysis for Financial Management, 7th edition − Case and Readings Packet Professor − Katharina Lewellen 3 Introduction Corporate finance Investment policy How the firm spends its money (real and financial assets) Financing and payout policy How the firm obtains funds (debt, equity) and disposes of excess cash 4 Balance sheet view of the firm Assets Liabilities Current Liabilities Current Assets Long-term debt Fixed Assets 1. Tangible 2. Intangible Shareholders’ Equity 5 Introduction, cont. But we also need to understand… Capital markets Types of securities (stocks, bonds, options…) Trade-off between risk and return Pricing Taxes and government regulation 6 Financial markets Firms Curr assets Fixed assets Debt Equity Financial Markets Individuals Financial Intermediaries Government 7 Introduction, cont. Finance is really about value Firms Projects and real investments Securities Common characteristic Invest cash today in exchange for cash (hopefully) in the future Central question How do we create value through investment and financing decisions? 8 Types of questions Investment...
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...THE CASE OF THE UNIDENTIFIED INDUSTRIES The analysis of the balance sheets and financial ratios enable us to match five different industries with respect to the corresponding financial structure reflected in the balance sheet. The low collection periods make B or E either one of GM retail, or apparel. That leaves Automobile, Electric Utility and Automated Test Equipment / Systems at A,C or D. Discounted general merchandise corresponds to B. The low collection periods make it one of B or E. However, the business cannot be negatively profitable. Hence it’s not E. The fast nature of the goods being sold at the retailer gives rise to quick inventory turnover. Thus matching industry is one of B. The low margin high volume gain that is common strategy in the industry gives rise to marginal profitability (1.5%) and a higher asset turnover ratio (3.25) resulting in economies of scale and rapid growth. This puts discounted general merchandise to most closely match to B. The investment in property and equipment is also second highest, owing to the investments in real estate and tools and equipment to manage the fast moving nature of the goods being sold. Additionally, this contributes to the lowest collection periods of 4 days, since the collection is upfront against the purchase of goods. Upscale Apparel : The matching industry is E. Also, the industry faces stiff competition and companies need to innovate continuously to remain profitable. This snapshot from 2009 may be representative...
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...The Case of the Unidentified Industries Financial Accounting & Management MBA 623 Sandra Martin Professor Christian C. Senk, Esq May 15, 2014 The online book seller goes with firm A, There is a high inventory turnover, along with keeping low inventory. Firm A also has a lot of cash and long term debt. The collection period is on the low side, on the other hand the online book store has a high accounts payable because it has to borrow a lot of money to pay for their inventory. The revenue/total asset account is in good standing, along with total assets/net worth. Net profit/ total asset shows that the company is very profitable as well. The book store chain goes with firm B. The bookstore is keeping high inventory, high plant, and equipment and the profit from revenue is kept low. The book store retail chain will likely have a shorter RCP(less than 30 days). The book store has assets which are not less than 25%. The inventory turnover(cost of goods sold/inventory), shows how often the company sells and replaces its inventory! Revenue/total assets are showing the company has good profitability, as well as the total asset/net worth, and the net profit/net worth. The online direct factory to customer personal computer vendor goes with C. The majority of the business is sales to businesses, and the manufacturing are outsource. All of their business transactions are done online through credit transaction. The online direct factory will have a large account...
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...Natalie Trivino May 21, 2016 Current Trends in Leadership Reflective Journal Week 3 As of now, I just finished reading the chapter called, “Toffees, Tennis Balls, and the Buddhas of Swat”, in the book “I am Malala”. The book is getting into greater detail of how the Taliban gained its power and the effects to the people in the villages. It all started by listening to a guy in the radio during certain times of the day. He was known as the Mullah and he started stating his beliefs of what is good and what is bad. Not only did he state his beliefs, but he also provided his reasons behind them which made much more sense. This increased more people to listen to his radio talks and that’s how he gained so much power. At this point of the book, I tried to analyze how the Mullah gained so much power. Sometimes his beliefs were way out of hand to me. For example, he stated that girls or women were not allowed to be outside unless they were accompanied by a man who is their relative. If a woman does dare to go outside with her male relative, she must be covered completely except for her eyes. I thought this went out of hand because it sounds like the Mullah was degrading the women and not men. It’s completely unfair, but the Mullah gained so much power in a matter of time because people believed in his opinions. When he does state his opinions, he gave out the reason behind it and people believed in those opinions. He believed that the earthquake had happened because girls were...
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...Chapter III This chapter presents the materials and the standard procedures used in the experimental undertaking of this study. It also includes the flowchart and the materials used in conducting the study. A. Research Design Experimental method of research s highly controlled in which manipulated treatments of this action from a factor called the experimental or independent variable is attributed only to the experimental or independent variable. Experimentation was used in gathering and testing of the products the preparation of the experimental green tea was done first followed by testing on its acceptability. B. Materials and Equipments In the course of this study, certain materials were needed in order to produce the desire prototypes. The materials were listed below: 1L water 500 grams of guyabano leaves 250 mL of Honey 250g of brown sugar 15 Pandan Leaves Equipments were needed in order to accomplish not only the prototypes but also the study as a whole the equipment were listed below: Bowls Casserole Beaker Containers C. Procedures a. Preparing the treatments Gather the materials needed. Wash the Guyabano and Pandan leaves. Boil in 1 litter water for 10 minutes. Minimize the fire and add honey and brown sugar for flavoring. Next stir the tea and boil for another 5 minutes. Let the tea cool first before transferring it to the container. b. Testing the product The four treatments will be given to the 15 respondents together with the...
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...times. This type of company also has a higher percent of other assets because this is the category where commissions fall. Another characteristic matching these together is that the payables and receivables are very close, 39 to 37 respectively. This would be likely for an advertising agency as it would be making purchases on the customer’s behalf. The HMO company fits with Company G. Again, there is no inventory. They also have low plant and equipment. They really only need some office space. Because they rely heavily on insurance payments, they have a high collection time. Their accounts receivable are large because they charge on the day of service. This type of company would also have a high revenue per assets ratio. UNIDENTIFIED INDUSTRIES 3 The airline is determined to go with Company M because no inventory and the large amount of plant and equipment. Of the companies with no inventory, this makes sense to be the airline. The commercial bank would then go...
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...1. Introduction In Oxford Dictionary, the popularized term UFO is an acronym for “Unidentified Flying Object” which means any object seen in the air that is not identifiable. These unusual aerial phenomena have been discussed and spotting for centuries, however, according to Wikipedia, the UFO craze really started in 1947 from Roswell UFO incident, after the Second World War. Since then, many UFO sightings have been reported worldwide. Yet, almost all of them end up being IFOs – Identified Flying Objects, as bright planets or stars, aircraft, balloons, flares, peculiar clouds, meteors, and satellites. The remaining sightings are hard to confirm due to the lack of photographic taken, inaccurate reporting, or delusions. Some people have given evidences to support the appearance of the UFOs, arguing that there is a conspiracy to hide the truth. The paper deals with UFOs phenomenon, which is an unexplained aerial event that has happened for a long time. It discusses the evidences of UFOs’ existence and the question of whether we are not alone in this universe as well as the theories surrounding these aerial events. 2. Discussion of findings 2.1. The Evidences For centuries, the UFOs reports have been familiar with people throughout the world. According to UN (2011), it is estimated that since 1947, about 150 million people have witnessed the UFO phenomenon and most of the reports from these people are general sighting. Many picture and video have been taken...
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...Fundamentals of Finance Unidentified Balance Sheet 1. Electric Utility - B Reasons: Usually an Electric Utility company have very less inventory and much more property and equipment compared to other companies. Also, their net profits/new sales is the highest compared to other companies. Collection period is one and a half month (that is the collection period of the bills), The profit margin is also the highest because of lower costs. 2. Japanese Trading Company - D Reasons: A trading company would have the lowest value of property and equipment, while their Amount Receivables will be the highest. Comparing the ratios, they have the highest Inventory Turnover, which means they have a high amount of Cost of Goods Sold. A trading company would have the lowest value of property and equipment. Level of inventories is on average. Collecting period is about 106 days, which means that the company has a low market power and this is also represented by the high level of receivables. Comparing the ratios, they have the highest Inventory Turnover, which means they have strong sales and positive turnover. 3. Aerospace Manufacturer - E Reasons: Highest Amount of inventories. Inventory Turnover is 1.1, which means that the COGS = Inventory -> They sell immediately whatever they produce. Makes sense for a Aerospace Manufacturer, as they produce based upon the order compared to other companies/sectors. Highest Amount of inventories. Inventory turnover is the lowest. ...
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...9-207-096 REV: APRIL 10, 2008 The Case of the Unidentified Industries—2006 Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F265469 If you were asked to visualize (in income statement and balance sheet form) the financial structure of a typical firm in one particular industry, do you think you could do it? How close to your “vision” do you think the “reality” would be? What if you were asked to do the same experiment covering 14 firms drawn from 14 different industries? How many of the 14 do you think you would get right? You may be surprised by how much you already know! Exhibit 1 presents the balance sheets (in percentage form) and other selected financial data for 14 firms drawn from 14 different industries. While there are clear differences in the financial structures of different firms within a single industry, the firms selected have figures that are broadly typical of those in their industry. Try to match the 14 firms operating in the 14 industries named below with the 14 sets of financial data presented in Exhibit 1. Use any approach you find helpful. Advertising agency (about half of total revenue derived from commissions that equal 15% of media purchases for clients) Airline Bookstore chain Commercial bank (fitted into the most nearly comparable balance sheet and ratio categories of the nonfinancial companies) Computer software developer Department store chain (with its “own brand” charge...
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...L. The data given in column L matches most with that of Electric and gas utility. A notable feature here would have to be their low inventory which is quite low (2%) meaning they do not need many goods for their line of business. This is mainly so because their revenue comes from electricity and natural gas sales which are a form of natural emissions in one way or another. Plant and equipment tends to be high in this industry as there is heavy machinery in power plants used to convert natural gas into electricity/ transform energy into usable power. It happens to be 60% of total assets. Another figure that leads to our decision is long-term debt of 32%, which is quite high compared to other industries, which makes sense given their high plant and equipment percentage. This tells us most of their financing comes from borrowings, making this a highly leveraged industry. Also, their inventory turnover ratio of 2.3 correlates with their low inventory percentage of 3%, which essentially tells us, they are not incurring many costs of goods sold. Moreover, the profit margin here is at .09, which is higher than most of the other industries, and it is safe to say that is due to the fact there is not much competition within this industry. A. Column A gives us data matching that of an Online Retailer. To begin, their inventory is at 19% of assets, which is higher than majority of the other industries mentioned. This can be easily explained by the fact that they are selling products to...
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...Environmental assessment of bio-based polymers and natural fibres Dr. Martin Patel*), Dr. Catia Bastioli**), Dr. Luigi Marini**), Dipl.-Geoökol. Eduard Würdinger***) *) Utrecht University, Department of Science, Technology and Society (STS), Copernicus Institute, Padualaan 14, NL-3584 CH Utrecht, Netherlands; Phone: +31 30 253 7634; Fax: +31 30 253 7601; E-mail: m.patel@chem.uu.nl **) Novamont, Via Fauser 8, I-28100 Novara, Italy; Phone: +39 0321 699 611; Fax: +39 0321 699 600; E-mail: bastioli@materbi.com, marini@materbi.com ***) BIFA (Bavarian Institute of Applied Environmental Research and Technology), Am Mittleren Moos 46, D-86167 Augsburg, Germany; Phone: +49 821 7000-181; Fax: +49 821 7000-100; Email: ewuerdinger@bifa.de Table of Contents 1. INTRODUCTION 2. HISTORICAL OUTLINE 3. METHODOLOGY OF LCA 4. PRESENTATION OF COMPARATIVE DATA 4.1 STARCH POLYMERS 4.1.1 Starch polymer pellets 4.1.2 Starch polymer loose fills 4.1.3 Starch polymer films and bags 4.1.4 Starch nanoparticles as fillers in tyres 4.2 POLYHYDROXYALKANOATES (PHA) 4.3 POLYLACTIDES (PLA) 4.4 OTHER POLYMERS BASED ON RENEWABLE RESOURCES 4.5 NATURAL FIBRES 5. SUMMARISING COMPARISON 6. DISCUSSION 7. CONCLUSIONS 7.1 7.2 SUMMARY AND FURTHER ELABORATION OF FINDINGS OUTLOOK AND PERSPECTIVES 8. ACKNOWLEDGEMENTS 1 9. REFERENCES ANNEX 1: OVERVIEW OF ENVIRONMENTAL LIFE CYCLE COMPARISONS FOR BIODEGRADABLE POLYMERS INCLUDED IN THIS REVIEW ANNEX 2:...
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...Invest. Innovate. Inspire. For a new India. ANNUAL REPORT 2014-15 India is at the threshold of a new era of growth and opportunity. This is driven by increasing economic activity, ongoing ‘Make in India’ initiatives and a demographically well-placed, aspirational society. Reliance Industries Limited (RIL) continues to be a partner in India’s ongoing journey towards economic and social well-being, and remains committed to investing in and innovating for India. RIL is striving to meet and exceed global benchmarks in product quality and customer service with inspiring ideas and strategic investments. From the manufacturing landscape to high-growth consumer service sectors, RIL is achieving superior outcomes that facilitate India’s drive for global leadership. RIL is delivering industry-leading performance through consistent efficiency in operations and prudent configuration of assets. RIL is making sizable capital investments, focusing on technology and expanding its level of services from the hydrocarbons sector to consumer businesses. RIL innovates for existing businesses and also focuses on developing new business models to deliver g g g y significant value for its growing stakeholder fraternity. In this effort, it collaborates with o s with leading global institutions to help usher in a n era of possibilities. global new is growing o RIL’s focus is to continue growing as a respons responsible organisation, thereby e inspiring progress in...
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...Could it be that the United States Government is covering up the existence of aliens? It is believed that the United states Government was covering up information pertaining to UFO sightings in Roswell, Mexico. The Government has sealed several documents discussing both incidents. Melanie Eversley from USA today states “Documents regarding the alleged landing of beings from outer space are locked up at the CIA’s headquarters in Langley, Virginia.” Witnesses have been interrogated and threatened to not speak on what they’ve seen or heard (Blake,34). It all began In July of 1947, something strange happened, a large unidentified flying object was spotted in the sky and crashed in the vast desert of Roswell. A rancher named William Brazel found metallic sticks held together with tape, chunks of plastic and foil reflectors, and scraps of a heavy, glossy, paper-like material. Immediately Brazel called the local sheriff department and spoke with sheriff George Wilcox and stated that he might have recovered the remains of a flying saucer. Wilcox, according to various sources, contacted military authorities at the Roswell Army Air Field, where official Major Jesse Marcel was sent to investigate. After the findings were examined officials were sent to take aways the remaining’s of the crash. This sighting caused chaos in the town of Roswell. There were many eye witness reports of alien like creatures that were next to the destroyed craft. Witnesses who saw the crash site, before confronted...
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...| The Case of the Unidentified Industries-2006 | | In this case, a summary sheet which contains 14 sets of financial data from 14 different industries is provided. The task is to match 14 different firms with 14 industries by distinguishing the differences (e.g. sources of financing, profitability, the inventory turnover and the accounts receivable collection period) in the financial structures. 1. Advertising agency: the matching industry is E. As a service firm, it does not contain inventory, so first of all, it can be narrowed down to E, G, M, and N. And generally B to B firms provide credit terms to their customers which result in receivables collection periods(RCP) is larger than 30 days, therefore it can be further narrow to E,G,N. Furthermore, based on the given hint, the media purchase is made on behalf of the client, which means the account receivable and account payable should be roughly equal, since the agency does not pay for the media services until their client pays. 2. Airline: the matching industry is M. Similar to Ad agency, it is a service firm, so its inventory is zero as well (G, M, N), and moreover, it is also a Business to Customer firm, its RCP is relative short(less than 30 days), so only M (RCP=12) is left which matches the description. 3. Bookstore chain: the matching industry is B. Retail firms like bookstore chain are likely to have shorter RCP (less than 30 days), which means only A, B, H, I, K and M match this description...
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