How would a Scholarship Assist Me After Graduation Essay Example for Free

How would a Scholarship Assist Me After Graduation Essay In my findings, it is not just enough to have enrichment of goal, fervency of passion and the keeping of focus, there is the place of vital impact played by pecuniary support from guardian(s) to actualize the desire. I strongly believe many brave and highly intelligent ones have been choked out of their academic dream in life after graduation. Statistical findings have unarguably revealed that financial incapability in one of the factors responsible for thwarted vision in academic excellence. I am very proud to note however, that our school is making part of her contributions in easing students’ financial burden as a responsible institution in the society. The scholarship is a gesture I really appreciate whole heartedly. I do forward this scholarship application to passionately appeal for my consideration in the grant in order to survive hardship in my future pursuit of academic excellence. See more: how to write a college scholarship essay format Being a promising member from a home with single mother who had lost his father as early as age five, I have only being struggling with ways out of incessant hopelessness, deprivation and unavoidable emotional abuse. I have labored assiduously with my parent to make both ends meet; during summer, I work at Boys and Girls Club to save some fund for school and trying hard to work-out element of laziness from exacerbating the poverty. Sooner after my graduation with me and my two other sisters in studying in college, the financial stress for our mother would climax. The cost of education even in a low grade school with the cheapest environment is overwhelming despite how hard I try to save. My two sisters also need optimum care to cater for their more demanding feminine nature. So huge are my worries despite the strong zeal to pursue academic excellence which I currently demonstrate in school for being among the top 10%. With the hope of scholarship aid, I look forward to a redemptive future from excellence incapacitation. In the college, the scholarship will assist to continual keep focus and meet up the grant expectation.

Midlife Crisis: Myth? :: essays research papers fc

Midlife Crisis: Myth? Imagine being forty or fifty and asking yourself questions like: What have I done all of my life? Why am I sitting behind a desk? And what am I doing driving a 1994 Grand Am, when I could be driving a BMW z3? Then you come home and your partner says, "Honey, I set up and appointment for you to see Dr. Sherwood." and you reply "What for?" Going through some a midlife transaction is common in men. From having symptoms, then coping with it, and getting professional help. In movies like: "Father of the Bride II† and "American Beauty" going through a midlife crisis is glamorized, although in real life it is very painful and not as fun and not near as funny. But is it all a myth, a made up story? Piotr Oles defines, â€Å"The midlife crisis as†¦significant change in the self and †¦men entering middle age. William Pollack, Ph.D., a psychologist at Harvard Medical School and co-director of the Center for Men at McLean Hospital in Belmont, Massachusetts, states that â€Å"All men go through a midlife transition†¦but only some go through a midlife crisis† (O’Connor). Symptoms usually occur in men between the ages of 40 and 50. After all the children have grown up and left the house to pursue their own live, men feel like they are left behind (O’Connor). Now it is only he and his wife, with feelings that their child may soon be taking care of them. Then it becomes common to wake up in the middle of the night and wonder to yourself, â€Å"Is there any more to life than this† (Adler). Toni Bernay, Ph.D., a Beverly Hills, psychologist concluded: The things that had kept them working and kept the passion going are coming to and end. Their spouses don’t seem as interesting to them as they once did, and they’re facing years where all there is going to be is him and her (Adler). A story in â€Å"Geriatrics† talked about one man’s experiences with midlife crisis and how he, â€Å"gained recent notoriety in the local newspaper when he was arrested for driving under the influence and lost his license† (Samuels). Drinking is another symptom of a midlife crisis or how Gail H. O’Connor put it, â€Å"You become a happy-hour regular†. According to Steven Samuels, â€Å"About one in eight older adults have a problem related to alcohol abuse.

Working Capital Analysis

CHAPTER-I INTRODUCTION 1. 1 Back ground of Study Working Capital refers to that part of the firm’s capital, which is required for financing short-term or current assets such a cash marketable securities, debtors and inventories. Funds thus, invested in current assets keep revolving fast and are constantly converted into cash and this cash flow out again in exchange for other current assets. Working Capital is also known as revolving or circulating capital or short-term capital. Therefore, working capital management is the same of liquidity management and its relate inversely with profitability.It is significance for any industries due to the investment in Current Assets (CA) must be adequate because inadequate or excessive inadequate working capital can disturb production and can also threaten the solvency of firm, if it fails to meet its current obligation excessive investment in CA should be avoided, since it impairs firm's profitability Secondly, need for working capital ar ises due to increasing level of business activity ; it is to provided quickly some time surplus fund may arises which should be invested in Short term securities , they should not be kept idle.The importance of Working capital management compelled to the firms to try the optimal level of investment in each element such as inventories, cash, account receivables but the firm also consider to way of financing the current assets. This means, consideration of current liabilities which include account payables, notes payable, interest payable and other shot-term debt.In addition, the firm can adopt an aggressive working capital management policy with a low level of current assets as a percentage of total assets, or it may also be used for the financing decisions of the firm in the form of high level of current liabilities as a percentage of total liabilities(Nazir and Afza,2009), and it is the opposite in conservative working capital management policy. On the other hand, it should be dist inguished between three policies that related directly with the working capital efficiency.First policy is collection policy, that measured by average receivables collection period (ARCP) which is meaning the average length of time required to convert the firm receivables into cash. Second policy is inventory policy, which expressed by average conversion inventory period (ACI). It means the average length of time required to convert raw materials into finished goods and then sell these goods.Third policy of working capital efficiency is payment policy, which measured by average payment period (APP) that means the length time between the purchase of materials and the payment of cash (Weston and Brigham,1993). These policies require from company to accelerate the collections of receivables, accelerate its inventory, accelerate the payment cycle, and reduce the cost of the working capital needs.Above mentioned policies can be merged them in one general policy, is called cash conversion cycle (CCC) developed by Richards and Laughlin(1980) which focuses on the length of time between when the firm makes payments and when it receives cash inflow. To fulfill the one of the most important goal of organization to maximization of share holder’s wealth of a firm is possible only when there is sufficient return from the operations and successful sales activity is necessary for earning profit sales without convert into cash immediately.To generate the sales and revenue activities there will be the s invisible time lap between the sale of good and receipt of cash. Hence, the time taken to convert raw material into cash is known as operating cycle that includes following activities in different phase. At first phase: * Conversion of cash into raw material * Conversion of raw material into work in progress * Conversion of Work in progress into finished goods * Conversion of finished goods into Sales ( Debtors and cash) At second Phase: Cash received and at third phase i s payment of credit.A low cash conversion cycle allows the managers to minimize holdings of relative unproductive assets such as cash and marketable securities, preserves the firm’s debt capacity since less short-term borrowing is required to provide liquidity and corresponds to a higher present value of net cash flows from firms assets Moreover, the cash conversion cycle is an important technique of analysis for the financial mangers of firm to assess why and when the firm needs more cash to sustain its activities. I am going to comparative study of Surya Nepal Private Limited (SNPL) is an Indo-Nepal-UK joint enture, which started operations in Nepal in 1986. SNPL, a subsidiary of ITC Ltd, India, is the largest private sector enterprise in Nepal. The balance shares are held by dispersed Nepalese shareholders and British American Tobacco, UK. Surya Nepal's businesses include manufacture and marketing of cigarettes and readymade garments in Nepal as well as exports of ready-ma de garments with a total turnover of over US $100 million. Secondly, The guiding force behind Dabur's growth and success has been the wealth of nature and its limitless capacity to support life.And we have constantly taken care to preserve and protect this natural bounty. With this overall vision of and to eco-sustenance, expand Dabur's resource and production base, Dabur Nepal Private Limited was set up as an independent Group company in 1992. This new company, set amidst the verdant greens and towering mountains of the Himalayan kingdom of Nepal, has established a unique bond of technology and preservation. 1. 2 Problem of Statement The management of a company's working capital significantly influences its profitability. In the short term, companies risk being short on liquidity if the working capital level deteriorates.In the long term, too much working capital lowers the return on investment and reduces the value of the company. In contrast, a reduction of the working capital ca n significantly improve cash flows and free up capital from a company's balance sheet. This capital can then be used to reduce debts, pay dividends to investors or reinvest in company growth. In the context of Nepal there is not practically implementation of working capital management technique that can brings the liquidity problem in short term and solvency problem in long term due to loss on business.This can be the one most important reason for the lower growth rate of manufacturing firm. I want to gain insight into this field and to identify potential areas for optimization of working capital management for the profitability on the Nepalese manufacturing firm. Performance of firm on the topic of working capital management is very essential to reach the optimum level of working capital then to enhance their profitability. But these elements can be affected by Nature of business, seasonality of operations, production policy, market condition, and political scenario.Therefore, I ha ve done this investigation to know the answer of following question. a. What are the factors of working capital for Nepalese manufacturing firm? b. How can working capital affects the performance to enhance profitability of firms? c. How is the performance of firm to achieve the optimal working capital in order to maximize the profitability? 1. 3 Objective of the Study The main objective of the research is to measure the impact of working capital management on the profitability for Nepalese manufacturing firm. The specific objectives of the study are summarizing as following. a.To analyze the relationship between working capital management and profitability for manufacturing firm. b. To determine the relationship between size of firm and the profitability c. To Know the relationship between leverage and profitability. 1. 4 Limitation of the Study This study is intended to measure the impact of working capital management on profitability of Nepalese manufacturing firm but the study a lso influences from the following limitation. a. There isn't financial sponsor for the depth study. b. Due to the time constraints it is not possible to analyze the each variable in details. c.In depth analysis and the study of financial position is not feasible because of the policy and privacy of firm. d. The information is assuming true that is taken from different source. CHAPTER-II LITERATURE REVIEW 2. 1 Literature Review According to Wilner (2000) most firms extensively use trade credit despite its apparent greater cost, and trade credit interest rates commonly exceed 18 percent and Deloof (2003) also found that according to National Bank statistics during 1997, Belgian companies had accounts payable of only 13% of the total asset and accounts receivable and Inventory of 17% and 10% of the total asset respectively.Singh and Pandey (2008) discussed the impact of working capital management in the profitability of Hindalco Industries Limited. Regression results showed that curren t ratio, liquid ratio, receivable turnover ratio and working capital to total assets had statically significant impact on profitability. Dong and Su (2010) examined the relationship between profitability, the cash onversion cycle and its component for listed firms in Vietnam stock market for period (2006-2008). They resulted that there is strong negative relationship between cash conversion cycle and the profitability.Cote and Latham (1999, p. 261) argued that management of receivables, inventory and accounts payable have tremendous impact on cash flows, which in turn affect the profitability of firms. According to Long, Malitz and Ravid (1993) it is seen that liberal credit terms to the customers increase the sales level of the firm, though having a continuous troubleshooting with managing short term financing in the finance department. The decision lays with the firm which one to put more importance on. Scherr (1989, p. 6) claimed that companies can strengthen strong cash flow lev els, improve profitability, budgeting and forecasting process, predictability and manageability of results, heighten risk if they implement the best practices in working capital. Amit, Sur and Rakshit (2005) studied the relationship between working capital and profitability in the context of Indian pharmaceutical industries and concluded that no definite relationship can be established between profitability and liquidity. Cote and Latham (1999, p. 61) argued that management of receivables, inventory and accounts payable have tremendous impact on cash flows, which in turn affect the profitability of firms. Scherr (1989, p. 16) claimed that companies can strengthen strong cash flow levels, improve profitability, budgeting and forecasting process, predictability and manageability of results, heighten risk if they implement the best practices in working capital. Eljelly(2004) identified the relation between profitability and liquidity who was examined, as measured by current ratio and c ash gap (cash conversion cycle) on a sample of joint stock firms in Saudi Arabia.The study found that the cash conversion cycle was of more importance as a measure of liquidity than the current ratio that affects profitability. The size variable was found to have significant effect on profitability at the industry level. The results were stable and had important implications for liquidity management in various Saudi firms. First, it was clear that there was a negative relationship between profitability and liquidity indicators such as current ratio and cash gap in the Saudi sample examined. Second, the study also revealed that there was great variation among industries with respect to the significant measure of liquidity.Sur Biswas and Ganguly (2001) revealed in their study of Indian aluminium producing industry, a very significant positive association between liquidity and profitability. All previous studies had reached to the same results approximately, which had proved there is t he negative relationship between the working capital, debt ratio, current ratio and profitability, and the positive relationship between size of the firm with profitability. This study tries to depend on previous studies to provide new evidence on how working capital can effect on the profitability. . 2 Research Frame Work Model ROA Leverage Performance Working Capital Efficiency Profitability of the Firm Size of Firm Current Liabilities Current Assets Organization Planning Growth of business Ln of Sales Debt ratio Liquidity ratio: CR All the components such as Working Capital, Profitability and Size of the firms, Liquidity, and Leverage performance are interrelated to each other. The working capital affects the profitability of the firm. Similarly size, leverage, and liquidity affect the working capital requirement and profitability of the firm.If there is low in current assets then it can’t pay the short term obligation and if firms keep in high ratio then investment opport unity will lose that decreases the value of profitability elements such as ROE and ROA. Secondly, if there is high concentration on sales by keeping low liquid assets then profit can increase and it helps to increase the growth rate of company and fulfill the objective of shareholder’s wealth maximization and ease for the competition but low liquid assets can creates the risk of liquidity. Therefore, all components of above mentioned are interrelated positively and negatively.After analyzing the financial ratio BOD, manager can formulate the policy for sustainable business as well as investors will take best decision for the investment. This study has been guided according to the above variables and discussed the variables relation after studied of two firms in detail in the below. Hence, this study will benefit for the best decision of working capital requirement to manage the profitability, leverage in long term and to growth the firm in stable rate. CHAPTER-III DATA COLLEC TION AND METHODOLOGY 3. 1 Research Data CollectionThe data has taken from the secondary source regarding to the official site of Surya Nepal Pvt. Ltd and Dabur Nepal Pvt Ltd. Secondary data is assumed as an enough and reliable. Sample of this study has been focused on the joint venture Nepalese manufacturing firms. These two firms have chosen as a sample company due to big market in Nepal. To fulfill the objective of research, report is prepared by taking a financial data of two sample companies from 2006 to 2011. 3. 2 Definition of variable I have used of dependent and independent variables to complete the study are as below.Dependent variables include profitability measure which will be computed by the following equation: Return on Assets (ROA)=Net Operating IncomeTotal Assets Secondly, independent variables have been divided in two parts. First part includes working capital management variables. †¢ Average receivable collections period (ARCP) are used to express the credit p olicy. It is calculated by using following equation: Average receivable collections period (ARCP)=Account Receivables *365/Sales †¢ Average conversion inventory period (ACIP), which is expressed the inventory policy.It will be identified by following formula: Average conversion inventory period (ACIP)= Inventory *365/Cost of Sales †¢ Average payment period (APP) is used to reflect the payment policy it is measured measured by following equation: Average payment period (APP) =Accounts Payables *365/Cost of Sales †¢ Cash conversion cycle (CCC) is used to express the overall impact on working capital efficiency, and that is calculated by using following equation. Cash Conversion Cycle (CCC)=ARCP+ACIP-APP At the second phase of independent variables has been included as below. †¢ Size of the company = Natural of logarithm of sales (LNS). Current ratio (CR) = Current assets/Current Liabilities. †¢ Financial leverage ratio (FL) = Total Liabilities / Total Assets. 3. 3 Empirical Analysis This section contains the descriptive analysis by taking the help of mean, standard deviation, maximum and minimum value of all variables that is used in study. Similary, on the second phase of analysis here has been explained the relationship between the variables by using correlation coefficient. Moreover, regression model has been used to quantify the relation between variable and to measure the accuracy of this report.Multiple regression models have used to complete the regression analysis. All types of analysis and graphical representation will be expressed by using the MS office package 2007. For this study I have used 4 regression models to quantify the relation and model is as below. 1. ROA= a+b1ARCP+b2CR+b3FL+b4LNS (model -1) 2. ROA= a+b1ACIP+b2CR+b3FL+b4LNS (model-2) 3. ROA= a+b1APP+b2CR+b3FL+b4LNS (model-3) 4. ROA= a+b1CCC+b2CR+b3FL+b4LNS (model-3) CHAPTER-IV DATA ANALYSIS AND PRESENTATION 5. 1. Empirical Analysis and Findings 4. 1. 1Descriptive An alysis: Dabur Nepal Pvt. Ltd (Table 1) | ROA| ARCP| ACIP| APP| CCC| CR| FL| Lns|   |   |   |   |   |   |   |   | Mean| 0. 034| 35. 67| 75. 12| 42. 35| 68. 44| 2. 00| 0. 248| 21. 73| Standard Deviation| 0. 028| 19. 74| 31. 74| 35. 27| 39. 24| 0. 676| 0. 055| 0. 346| Minimum| 0. 001| 4. 13| 17. 37| 8. 33| 6. 30| 1. 52| 0. 207| 21. 39| Maximum| 0. 084| 55. 23| 111. 78| 93. 46| 120. 94| 3. 19| 0. 351| 22. 38| Count| 6| 6| 6| 6| 6| 6| 6| 6| According to the above table, ROA on average is 34% and ROA existed between 0. 1 % to 0. 84%. The average receivables collection period has 5 days (approximately) as minimum to collect its receivables from the purchasers but it takes 55. 23 days as maximum to collect its receivable.The average days of generating its sales on account about 35. 67 days. In addition, the average conversion inventory period (ACIP) takes about 17. 37 days to sell all its inventory as minimum and takes 111. 78 days as maximum. The mean days to sell the inven tories are 75. 12 days with standard deviation of 31. 74 days. About the APP, the firm has a minimum time 8. 33 days to pay its purchases on account and 93. 46 days as a maximum time. It takes an average 42. 35 days to pay its purchase with standard deviation of 35. 27. The cash conversion cycle (CCC) has 6. 30 days as a minimum time and maximum is 120. 94 days.The minimum current ratio (CR ) of the firm is 1. 52 and maximum is 3. 19 with the standard deviation of 0. 55%. The Natural Logarithm of size (LNS) shows minimum sales is 21. 39 and maximum is 22. 38 with the average of 21. 73. About the financial leverage is 20% as minimum and maximum is 35% with the standard deviation of 0. 55%. Surya Nepal PVT. LTD (Table 2) | ROA| ARCP| ACIP| APP| CCC| CR| FL| LNS| |   |   |   |   |   |   |   |   | Mean| 0. 287| 5. 11| 191. 55| 63. 45| 133. 21| 1. 72| 0. 424| 22. 82| Standard Deviation| 0. 086| 2. 90| 21. 84| 5. 88| 19. 96| 0. 678| 0. 152| 0. 339| Minimum| 0. 178| 2. 54| 170. 51| 57. 0| 110. 72| 1. 06| 0. 255| 22. 42| Maximum| 0. 389| 9. 86| 232. 04| 73. 16| 167. 62| 2. 44| 0. 594| 23. 31| Count| 6| 6| 6| 6| 6| 6| 6| 6| an average return on assets(ROA) is just 28% which is lower than Dabur Nepal Ltd. But the minimum and maximum value of ROA exists between 17 % to 38 % and less variability comparison with Dabur Nepal Ltd. The Average receivable collection period (ARCP) is 5. 11 days approximately and lower than Dabur. Thus, collection capacity of dabur is very strong. similarly, ACIP of Surya Nepal exist between 170. 51 days to 232. 04 days. About the average CCC of Surya Nepal is 133. 1 days which is higher than Dabur Nepal. Therefore, we can say that, cash inflow days in the Dabur Company are quicker than Surya Nepal. Moreover, an average 42% portion is existed under the total assets of the Surya firm that is higher than Dabur Company. It means, Surya Nepal takes more loans for the business. About the average size of Surya Nepal is 22. 82 that is h igher than Dabur. Graph: 1 source Table 1 and 2 Let summarize the above result: a. ROA of Surya Nepal is higher that tends to the meaning of; profitability volume is good rather than Dabur Nepal Pvt. Ltd. b. Credit collection capacity is stronger of Surya Nepal Pvt.Ltd. c. Surya Nepal Ltd. takes more time to convert the goods in raw material. d. Surya Nepal pays to supplier at delay comparison with Dabur. e. CCC of Surya is higher due to higher in ACIP and APP. 4. 1. 2. Correlation Coefficient Analysis Dabur Nepal Ltd. (Table 3) | ROA| ARCP| ACIP| APP| CCC| CR| FL| Lns| ROA| 1|   |   |   |   |   |   |   | ARCP| -0. 903| 1|   |   |   |   |   |   | ACIP| -0. 666| 0. 537| 1|   |   |   |   |   | APP| -0. 074| 0. 141| 0. 705| 1|   |   |   |   | CCC| -0. 927| 0. 811| 0. 446| -0. 258| 1|   |   |   | CR| 0. 835| -0. 627| -0. 888| -0. 450| -0. 6291| 1|   |   | FL| -0. 095| 0. 285| -0. 007| -0. 152| 0. 2743| 0. 48| 1|   | Lns| 0. 144| -0 . 172| 0. 348| 0. 609| -0. 352| -0. 203| -0. 572| 1| Surya Nepal Pvt. Ltd (Table 4) | ROA| ARCP| ACIP| APP| CCC| CR| FL| LNS| ROA| 1|   |   |   |   |   |   |   | ARCP| -0. 420| 1|   |   |   |   |   |   | ACIP| 0. 393| -0. 174| 1|   |   |   |   |   | APP| -0. 359| -0. 402| 0. 441| 1|   |   |   |   | CCC| -0. 263| 0. 073| 0. 939| 0. 130| 1|   |   |   | CR| -0. 892| 0. 493| -0. 443| -0. 736| -0. 196| 1|   |   | FL| -0. 869| -0. 457| 0. 541| 0. 769| 0. 299| -0. 992| 1|   | LNS| 0. 958| -0. 437| 0. 569| 0. 464| 0. 423| -0. 893| 0. 902| 1| According to the Table 3 and 4, Return on Assets (ROA) has negative relationship with ARCP.It tends to the meaning of longer the time of collection days reduces the profitability of firm. Therefore, if a firm reduces the length between sales and collection, it will increase the profitability through reinvest collections in profitable investments. Correlation results related negatively between the a verage conversion conversion inventories (ACIP) and ROA significantly in the case of Dabur. It means when the firm reduces the length time required converting raw material in to finished goods and then to sell those goods that lead to enhance profit.But in the case of Surya Nepal, there is positive relationship between ARCP and ROA. It means, it should take more stock for the high profit. The average Payment Period (APP) has negatively correlation with Profitability. It means, if the both firm shorten the length time between purchases goods and payment of the value of goods, it will lead to increase profitability. There are negative relationship between cash conversion cycle (CCC) and ROA. If the firms shorten its conversion cycle as much as possible without hurting its operation, it will reflect positively on profitability.Correlation coefficient of the size (LNS) firm is positive relationship with profitability that indicates if the firm increases its size of sales; it will lead t o increase its profitability. Current ratio refers to liquidity of the firm which relates positively correlated with ROA in case of Dabur but negatively correlated with ROA in case of Surya Nepal. Generally, if the firm invests its liquidity very well, it will generate high return and as per situation there might be required or not for holding of stocks in long term. About the Financial leverage that is negatively correlated with profitability.It means, if the firm depends on the financial leverage as much as need, ti carry itself financial obligation such as interest payment and principal payment and then it reflects negatively on its profitability. Dabur Nepal Pvt. Ltd. (Table 5) Year| 2006| 2007| 2008| 2009| 2010| 2011| ROA| 0. 031| 0. 030| 0. 022| 0. 001| 0. 084| 0. 038| CCC| 85. 74| 86. 30| 63. 87| 120. 93| 6. 29| 47. 46| Source Table 5. Graph 2 Conclusion: According to the above finding, the increasing in the value of CCC that decreases the value of ROA. And it is proved that there is negative relationship between ROA and CCC.Surya Nepal Pvt. Ltd Graph 3. Conclusion: In the case of Surya Nepal Pvt. Ltd, there is positive relationship between ROA anc CCC. This means to increase the profit of Surya firm then they have to increase the value of working capital component. 4. 1. 3Regression Analysis: Dabur Nepal Pvt. Ltd Table 6 Independent Variables| Model-1| Model-2| Model-3| Model-4| ARCP| -0. 001|   |   |   | ACIP|   | -0. 020|   |   | APP|   |   | -0. 0003|   | CCC|   |   |   | -0. 0004| CR| 0. 020| 0. 115| 0. 045| 0. 017| FL| -0. 021| -0. 577| -0. 178| -0. 015| Lns| 0. 014| 0. 053| 0. 008| 0. 002| Adjusted R^2| 0. 780| 0. 7| 0. 517| 0. 815| F-test| 0. 010*| 0. 01*| 0. 0051*| 0. 077**| Surya Nepal Pvt. Ltd Table 7 Independent Variables| Model-1| Model-2| Model-3| Model-4| ARCP| -0. 003|   |   |   | ACIP|   | 0. 907|   |   | APP|   |   | -0. 008|   | CCC|   |   |   | 0. 953| CR| 0. 275| 0. 360| 0. 221| 0. 275 | FL| -1. 188| -1. 599| -0. 055| -1. 188| Lns| 0. 245| 0. 224| 0. 069| 0. 245| Adjusted R^2| 0. 770| 0. 67| 0. 71| 0. 79| F-test| 0. 0876**| 0. 0035*| 0. 012*| 0. 0144*| In the above table, F-test has been done at 5%=* and 10% =**significance of level. Table 6 and 7 presents the regression result of two firms of 4 models.According to the table 6 and 7, ARCP and ROA have negatively correlated. For the both Company if there is 1% increase in the days of collection period than less than 1% will decrease on the value of profitability. Similarly, for the both firm, liquidity ratio and size of firm is positively correlated. It means, increases in the sales that will increase the profit volume. Positive value of CR and LNS but negative value of financial leverage (FL) is accepted by all models. This means, if loan amount is increased by 1% then profit will decreased by 0. 21% in case of Dabur but more than 11% in case of Surya Nepal.All the, result revealed that, to increase the profit, fi rm should decrease the loan amount. According to the Model 4 from table 6, there is negative relationship between ROA and cash conversion cycle. This means, to increase the profit, Dabur should reduce the CCC. It is also supported by the theory of higher the working capital leads to the lower of profitability. On the other hand, model 4 from table 7 reveals that there is positive relationship between ROA and CCC. This result is beyond the theory and if Surya Nepal wants to increase its profit then it should increase the Working capital.It may the cause of poor situation of Nepalese economy, nature of business as well as less concentration on environment management that is leading to keep higher amount of stock. According to table 6, model 1 , 2 ,3 and 4 explained the dependent variable by independent in the portion of 78% , 77% , 51%, and 81 % respectively and remaining portion is due to other element. But in the table 7, dependent variable (ROA) is explained by independent in the f orm of 77%, 67%, 71%, and 79% and remaining part is covered by other elements. CHAPTER-V CONCLUSION AND RECOMMENDATION 5. Conclusion and RecommendationWorking capital management is the same of liquidity management and its related inversely with profitability but this theory always doesn't work. Here, I have found the different relationship between the component of working capital and profitability by taking financial data of Dabur Nepal Ltd and Surya Nepal Pvt. Ltd manufacturing from 2006-2011. This study appears that there is a negative significance relationship between average receivables collection period (ARCP), average conversion inventory period (ACIP, only case for Dabur), average payment period (APP) and the profitability measures.It is proved also a negative relationship between the cash conversion cycle (CCC) from the data of Dabur Company but it is not the result of universal fact because it is also proved that there can be a positive relationship between CCC and Profitab ility. The reason behind this can be the political risk, poor economy, lack of availability of raw materials and delivery of goods and services in time due to the labor union problem, increasing in supplier power, unavailability of credit facility, poor management of current assets and lack of efficient procedure and subsidy facility from government.After this analysis, the study recommends for the firms to manage their working capital efficiently to achieve the optimal profitability. Thus, the firms can manage their working capital through reduce the length time between sell the goods and receive cash of sales, it can do that by accelerating its collections. And it also reduce the length time between convert the raw materials into finished goods to sell these goods through. On the other hand the firms should shorten the length time between purchase goods to pay their purchases.All these will lead to shorten the cash conversion cycle and then lead to achieve the optimal profitabilit y. Moreover, we can't say that there will be lower profit due to higher CCC because due to the environmental factors the component of working capital can be influenced and result can go beyond the planning and objective. In the context of Nepal, where the practices of working capital management is poor and as a result firms are generating lower profit. Secondly, long procedure of raw material conversion and delay of payment also reduces the profit of firm.It can be the one cause of Positive relationship between CCC and profitability in case of Surya Nepal Pvt. Ltd. Therefore, reduction of working capital is not only best solution because environment analysis is also important factor. References: Amit, K. Malik, Debashish Sur and Debdas Rakshit (2005). Working Capital and Profitability: A Study on their Relationship with Reference to Selected Companies in Indian Pharmaceutical Industry, GITAM Journal of Management. 3: 51-62. Deloof M (2003). â€Å"Does Working Capital Management Aff ect Profitability of Belgian Firms? J. Bus. Financ. Account. , 30(314): 573-587. Dr. S. , Ray â€Å"Evaluating the Impact of Working Capital Management Components on Corporate Profitability: Evidence from Indian Manufacturing Firms† 2012 Eljelly, A. M. (2004). Liquidity –Profitability Tradeoff: An Empirical Investigation In An Emerging Market, International Journal Commerce and Management. 14(2), 48-61. J. , Desai ; N. , A. Joshi, â€Å"Effect of Working Capital Management on Profitability of Firms in India† March 2, 2011 ; http://papers. ssrn. com/sol3/papers. cfm? bstract_id=1774686; Lazaradiz, I and Tryfonidis, D. (2006). Relationship Between Working Capital Management And Profitability Of Listed Firms In the Athens Stock Exchange, Journal of Financial Management and Analysis. 19(1), 26-35. Mukhopadhyay, D (2004), Working Capital Management in Heavy Engineering Firms- A Case Study, myicwai. com. knowledge/fm48. Raheman, A. , ; Nasr, M. (2007). Working Capital Management And Profitability – Case Of Pakistani Firms. International Review of Business Research papers, 3(1), 279 – 300.Scherr, F. C. (1989). Modern Working Capital Management, Text and Cases. Englewood Cliffs, New Jersey: Prentice-Hall International Editions. Sur, D. , Biswas and Ganguly, P (2001). Liquidity Management in Indiaan Private Sector Enterprises: A case Study of Indian Primary Aluminium Producing Industry, Indian Journal of Accounting. June: 8-14. Shin, H, H and Soenen, L. (1998). Efficiency of working Capital Management and Corporate Profitability, Financial Practice and Education8 (2),37-45.

Aprasia

l Burns: Understanding Nursing Research, 5th Edition Appraisal Exercises Critical Appraisal Guidelines for Qualitative Studies Research Article: Stress and nursing care needs of women with breast cancer during primary treatment: A qualitative study QUALITATIVE CRITICAL APPRAISAL GUIDELINES|KEY CONCEPTS INAPPRAISAL| Problem Statement1. Identify the clinical problem and research problem that led to the study. 2. How did the author establish the significance of the study? In other words, why should the reader care about this study? || Purpose and Research Questions1. Identify the purpose of the study. . List research questions that the study was designed to answer. If the author does not explicitly provide the questions, attempt to infer the questions from the answers. 3. Were the purpose and research questions related to the problem? 4. Were qualitative methods appropriate to answer the research questions? || Literature Review1. Did the author cite quantitative and qualitative studies relevant to the focus of the study? What other types of literature did the author include? 2. Are the references current? 3. Identify the disciplines of the authors of studies cited in this paper.Does it appear that the author searched databases outside of CINAHL for relevant studies? 4. Did the author evaluate or indicate the weaknesses of the available studies? 5. Did the literature review include adequate information to build a logical argument? Another way to ask the question: Did the author provide enough evidence to support the verdict that the study was needed? | 4. The author mentioned limitations of the study by a bias. Some women who were mentally unstable, or if the nurses felt as if they would be over whelmed with the interview were excluded. 5.The author did go into detail about the many things that are need for a patient with breast cancer. | Frame of Reference 1. Did the author identify a specific perspective from which the study was developed? If so, what was it? 2. When a researcher uses the grounded theory method of qualitative inquiry, the researcher may develop a framework or diagram as part of the findings of the study. Was a framework developed from the study findings? |1. The author did not mention a specific form which the study was developed. In my opinion it was developed to help with the coping of breast cancer in women. 2.The framework was to include the specific strain influencing the women affected during the time, the needs and expectations they had of the nurses. | Research Tradition1. Identify the stated or implied research tradition upon which the study was based. 2. Were the methods used in the study consistent with the research tradition? |1. There was not a stated research tradition stated but the implied one was phenomological research because it was based on real life situations. 2. The method used was consistent with the research tradition. The participants were interviewed and allowed to answer questions.They touched on many aspects of the strains when dealing with breast cancer. | Sampling and Sample1. Identify how subjects were selected. 2. At what sites were subjects recruited for the study? Did the sites for recruitment fit the sampling needs of the study? 3. What were the inclusion and exclusion criteria for the sample? 4. Were the selected subjects able to provide data relevant to the study purpose and research questions? 5. How many people participated in the study? Did any potential subjects refuse to participate? Did any of the participants start but not finish the study? |1.The 42 women were chosen by the nurses ate the hospital. They had to meet the following criteria early tumors, no further metastases elsewhere, no malignant pre-existing disease or neoadjuvant therapy, and the ability to understand the German language. Pg. 122. The patients were recruited while impatient in the hospital. That was a proper site for recruitment for this study because they were determining the stress and nursing care. 3. The inclusion was aimed at women with breast cancer in the stage of surgical procedures as primary therapy. The average ages of the women were 55 and the youngest person was 33 and the oldest was 79. g12 | Data Collection1. How were data collected in this study? 2. What rationale did the author provide for using this data collection method? 3. Identify the time period for data collection of the study. 4. Describe the sequence of data collection events for a participant. || Protection of Human Participants1. Identify the benefits and risks of participation addressed by the authors. Were there benefits or risks the authors do not identify? 2. How were recruitment and consent techniques adjusted to accommodate the sensitivity of the subject matter and possible vulnerability of participants? . How were data collection and management techniques adapted in acknowledgment of participant sensitivity and vulnerability? || Data Management and Analysis1. Describe the data man agement and analysis methods used in the study. 2. Did the author discuss how the rigor of the process was assured? 3. What measures were used to minimize the effects of researcher bias? 4. Did the data management and analysis methods fit the research purposes and data? || Findings1. Did the findings address the purpose of the study? 2. Were the data sufficiently analyzed? 3.Were the interpretations of data congruent with data collected? 4. Did the researcher address variations in the findings by relevant sample characteristics? || Discussion1. Did the results offer new information about the target phenomenon? 2. Were the findings linked to findings in other studies or other relevant literatures? 3. Describe the clinical, policy, theoretical, and other significance of the findings. Does the author explore these applications? || Logic and Form of Findings1. Were readers able to hear the voice of the participants and gain an understanding of the phenomenon studied? . Were elements of the research report easily found by readers? 3. Did the overall presentation of the study fit its purpose, method, and findings? 4. Was there a coherent logic to the presentation of findings? || Evaluation Summary1. Do the findings provide a credible reflection of reality? If so, how can the findings be used in nursing practice? 2. What do the findings add to the current body of knowledge? 3. State the conclusion of the critical appraisal of the study. || References cited in this appraisal that were not cited in the article:

Battle of Belmont in the Civil War

Battle of Belmont in the Civil War Battle of Belmont - Conflict Date: The Battle of Belmont was fought November 7, 1861, during the American Civil War (1861-1865). Armies Commanders Union Brigadier General Ulysses S. Grant3,114 men Confederate Brigadier General Gideon Pillowapprox. 5,000 men Battle of Belmont - Background: During the opening stages of the Civil War, the critical border state of Kentucky declared its neutrality and announced it would align opposite the first side that violated its borders. This occurred on September 3, 1861, when Confederate forces under Major General Leonidas Polk occupied Columbus, KY. Perched along a series of bluffs overlooking the Mississippi River, the Confederate position at Columbus was quickly fortified and soon mounted a large number of heavy guns which commanded the river. In response, the commander of the District of Southeast Missouri, Brigadier General Ulysses S. Grant, dispatched forces under Brigadier General Charles F. Smith to occupy Paducah, KY on the Ohio River. Based at Cairo, IL, at the confluence of the Mississippi and Ohio Rivers, Grant was eager to strike south against Columbus. Though he began requesting permission to attack in September, he received no orders from his superior, Major General John C. Frà ©mont. In early November, Grant elected to move against the small Confederate garrison at Belmont, MO, located across the Mississippi from Columbus. Battle of Belmont - Moving South: To support the operation, Grant directed Smith to move southwest from Paducah as a diversion and Colonel Richard Oglesby, whose forces were in southeast Missouri, to march to New Madrid. Embarking on the night of November 6, 1861, Grants men sailed south aboard steamers escorted by the by the gunboats USS Tyler and USS Lexington. Consisting of four Illinois regiments, one Iowa regiment, two companies of cavalry, and six guns, Grants command numbered over 3,000 and was divided into two brigades led by Brigadier General John A. McClernand and Colonel Henry Dougherty. Around 11:00 PM, the Union flotilla halted for the night along the Kentucky shore. Resuming their advance in the morning, Grants men reached Hunters Landing, approximately three miles north of Belmont, around 8:00 AM and began disembarking. Learning of the Union landing, Polk instructed Brigadier General Gideon Pillow to cross the river with four Tennessee regiments to reinforce Colonel James Tappans command at Camp Johnston near Belmont. Sending out cavalry scouts, Tappan deployed the bulk of his men to the northwest blocking the road from Hunters Landing. Battle of Belmont - The Armies Clash: Around 9:00 AM, Pillow and the reinforcements began arriving increasing Confederate strength to around 2,700 men. Pushing forward skirmishers, Pillow formed his main defensive line northwest of the camp along a low rise in a cornfield. Marching south, Grants men cleared the road of obstructions and drove back the enemy skirmishers. Forming for battle in a wood, his troops pressed forward and were forced to cross a small marsh before engaging Pillows men. As the Union troops emerged from the trees, the fighting began in earnest (Map). For around an hour, both sides sought to gain an advantage, with the Confederates holding their position. Around noon, the Union artillery finally reached the field after struggling through the wooded and marshy terrain. Opening fire, it began to turn the battle and Pillows troops began falling back. Pressing their attacks, the Union troops slowly advanced with forces working around the Confederate left. Soon Pillows forces were effectively pressed back to the defenses at Camp Johnston with Union troops pinning them against the river. Mounting a final assault, the Union troops surged into the camp and drove the enemy into sheltered positions along the riverbank. Having taken the camp, discipline among the raw Union soldiers evaporated as they began plundering the camp and celebrating their victory. Describing his men as demoralized from their victory, Grant quickly grew concerned as he saw Pillows men slipping north into the woods and Confederate reinforcements crossing the river. These were two additional regiments which had been sent by Polk to aid in the fighting. Battle of Belmont - The Union Escape: Eager to restore order and having accomplished the objective of the raid, he ordered the camp set on fire. This action along with shelling from the Confederate guns at Columbus quickly shook the Union troops from their reverie. Falling into formation, the Union troops began departing Camp Johnston. To the north, the first Confederate reinforcements were landing. These were followed by Brigadier General Benjamin Cheatham who had been dispatched to rally the survivors. Once these men had landed, Polk crossed with two more regiments. Advancing through the woods, Cheathams men ran into straight into Doughertys right flank. While Doughertys men were under heavy fire, McClernands found Confederate troops blocking the Hunters Farm road. Effectively surrounded, many Union soldiers wished to surrender. Not willing to give in, Grant announced that we had cut our way in and could cut our way out just as well. Directing his men accordingly, they soon shattered the Confederate position astride the road and conducted a fighting retreat back to Hunters Landing. While his men boarded the transports under fire, Grant moved alone to check on his rear guard and assess the enemys progress. In doing so, he ran into a large Confederate force and barely escaped. Racing back the landing, he found that the transports were departing. Seeing Grant, one of the steamers extended a plank, allowing the general and his horse to dash aboard. Battle of Belmont - Aftermath: Union losses for the Battle of Belmont numbered 120 killed, 383 wounded, and 104 captured/missing. In the fighting, Polks command lost 105 killed, 419 wounded, and 117 captured/missing. Though Grant had achieved his objective of destroying the camp, the Confederates claimed Belmont as a victory. Small relative to the conflicts later battles, Belmont provided valuable fighting experience for Grant and his men. A formidable position, the Confederate batteries at Columbus were abandoned in early 1862 after Grant outflanked them by capturing Fort Henry on the Tennessee River and Fort Donelson on the Cumberland River. Selected Sources CWSAC Battle Summary: Battle of Belmont HistoryNet: Battle of Belmont

Rite, Write, Right, Wright

Rite, Write, Right, Wright Rite, Write, Right, Wright Rite, Write, Right, Wright By Maeve Maddox Here are four frequently misspelled words that your computer Spell Check wont catch. A rite is a ceremonial act. Ex. Catholics celebrate the rite of the Mass. A boys first haircut is a rite of passage. The form write is the present tense form of the verb to write. Ex. Please write me a letter. The past participle form written is also often misspelled, but your spell checker will catch writen. The word right is spelled with three-letter i, i.e., igh. Ex. Citizens have the right to assemble. Go two blocks and then turn right. He always thinks hes right and everyone else is wrong. The word wright is from an Old English word meaning worker or maker. A wheelwright makes wheels. A shipwright makes ships or boats. The word is more common now in a literary sense. One who writes plays is a playwright. A related word is wrought. When Samuel Morse demonstrated his telegraph, his first message was What hath God wrought! The word wrought is an archaic past tense form of work. Used transitively, work has various meanings, including to bring about, to prepare, to fashion. Ex. He worked his will on the gullible crowd. She worked her initials into the embroidery design. One more note on the word wrought. Sometimes spelled wrot, this is the word that refers to iron that has been shaped by hand. You may, for example, have some wrought-iron lawn furniture or a wrought-iron gate. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Writing Prompts 101Do you "orient" yourself, or "orientate" yourself?Drama vs. Melodrama

Worldview Essay Example | Topics and Well Written Essays - 1000 words

Worldview - Essay Example A worldview is the opinion that every individual holds toward the existence or purpose of something. In this case, the naturalist worldview is that there is no God that maintains or sustains all life in the universe. Theism is the belief that at least one god exists. However, the liberal view held by most is that it is not our task to prove that there is no God, rather; the task of a believer to prove that a god does exist. This paper will examine the naturalist worldview about the existence of God, and the impact such a view has on the lives of naturalists. The worldview on God is that He is a Supernatural Being that individuals and believers pray to in order to find a higher purpose with/in their lives. It is the naturalist’s view that there is no presence of such a Supernatural Being that sustains life in the universe. Naturalism brings forth the understanding that nature is the ultimate reality, and that no deity is involved in its maintenance. It is this view that brings focus to the thought that nothing, beyond nature itself, has any effect upon the world individuals dwell or exist. Some of the characteristics of God are that He tends to be jealous when individuals pay homage to anything apart from Him (Adams, 1993). This is evident in the texts that exist that describe Him as a jealous God. The Holy Book includes commandments that He gave to mankind so that they could live in harmony with Him, and fellow mankind (Adams, 1993). Another characteristic is that He is omnipresent. This means that He was there from the beginning, and will be there till the end. From a naturalist’s point of view, it may be next to impossible for the existence of life for such a long time. There is the beginning of life, but then, there is also the end of life. Human beings came about as a result of evolution. The beginning of mankind is a cause, and was as a result of a cause. It is the naturalist worldview that we are caused creatures, and that all factors involv ed give man the power and control over all that surrounds them. By comprehending the fact that mankind is materially based, it is only fair that this point of view connects man to the physical world, hence; enabling man to be at home in the physical state of the world (Adams, 1993). After death, there is the biological aspect of nature, which is summarized as decomposition. There are no souls that continue on after death because man is purely physical in nature. It is this worldview that mankind gives back to the physical state of the universe. It is considered nature’s way of sustaining existing life, and giving rise to new beings. The nature of the universe is self-sustenance. It is only through evolution, not supernatural or religious understanding, that the universe is brought together. This is under a common objective of sustaining all life on earth. Naturalism focuses the attention of mankind on what works, increasing an individual’s efficiency toward the natural environment. Mankind is, therefore; better placed to create social policies that aim at increasing the togetherness of the social, political, and environmental scene (Carrier, 2010). Through the creation of different factors, for example; compassion and empathy, the universe assists mankind to reduce the chances of self-righteousness, superiority with regards to morality, guilt, and ultimately shame. It is through these factors that individuals know what they know. Through the introduction and advancement in science, individuals are engaging in thoughts about the nature and characteristics of life. Just as Christian believers choose to believe the existence of a Supreme Being,