Software for Human Resources Information Management 2019

Human information resources management (HRIM) is a software concept that has spawned an information technology (IT) class of its own, and a thriving industry. There is a trade organization, the International Association of Human Resources Information Management (IHRIM) that has an annual trade show, a newsletter and an assortment of member benefits. You can find them at http://www.ihrim.org and you can also find an enthusiastic, detailed article about the value of HRIM software to small and mid-sized businesses: ( Technology Becomes Affordable to the Small and Midsize Market: Are You Still Doing the Paper Chase?) HRIM software began as document management software for a segment of business operations that is heavily burdened with paper flow. The job application processs alone requires an application, a resume, various supporting and documents verifying employee eligibility. Once an employee is in the ranks, the ongoing record keeping spreads to benefits and accounting functions that include insurance status, attendance, periodic performance evaluations, payroll records, tax withholding, etc. Letters of commendation or disciplinary actions, promotions, demotions all have been paper documents to be filed in some fashion prior to the advent of electronic record keeping. .u5baae90a4976babcbd543a52ccd33906 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u5baae90a4976babcbd543a52ccd33906:active, .u5baae90a4976babcbd543a52ccd33906:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u5baae90a4976babcbd543a52ccd33906 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u5baae90a4976babcbd543a52ccd33906 .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u5baae90a4976babcbd543a52ccd33906 .post Title { color:#000000; text-decoration: underline!important; font-size: 16px; } .u5baae90a4976babcbd543a52ccd33906:hover .postTitle { text-decoration: underline!important; } READ Best Interview Questions to AskHuman resources information management software consolidates many of these record keeping functions into a database that takes many of the filing cabinets out of the office layout and provides business analytical tools based on the personnel files. Companies that produce and sell human resources information management software usually design them in modular form. Functions may include: HR (hiring) Payroll Tax Filing Scheduler Timekeeper Accruals Activities Attendance Leave Record Manager (employee overview) Employee (access) Manager (access) These last two features are access to the database for both employees and managers. Employees can access information on insurance issues, personal insurance coverage, payroll records, vacation or time off available, work schedules and so on. Managers can file work schedules and departmental or employee reports as required regarding personnel activities. The interactive features of most HRIM systems are strong selling points as they take the need for personal counseling on each employee question or issue out of managements daily responsibilities. .uba77286074674db220033c27c86497d1 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .uba77286074674db220033c27c86497d1:active, .uba77286074674db220033c27c86497d1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .uba77286074674db220033c27c86497d1 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .uba77286074674db220033c27c86497d1 .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .uba77286074674db220033c27c86497d1 .post Title { color:#000000; text-decoration: underline!important; font-size: 16px; } .uba77286074674db220033c27c86497d1:hover .postTitle { text-decoration: underline!important; } READ Louisiana Colleges and Universities Pursuing Online and Campus-based Education in Louisiana, the Pelican StateHuman resources information can be put into database forms that provide management information. Some management decisions regarding worker productivity and streamlining operations can be aided with data developed through HRIM. One software company notes these analytical tools that their software data can generate: Effective workforce deployment to meet quality, cost, and customer satisfaction goals Labor cost control Government regulation compliance Employee recruiting, development, and retention Statistics in these categories matched against industry norms can provide valuable benchmarks for decisions on operational changes. Many of the software firms that provide the basic packages providing the record keeping categories listed above will provide sophisticated analytical modules as options sold separately. Human resources management software can be a helpful tool for the employee and for mid-level management staff. Software implementation and the impact on employees daily routines need to be handled carefully. Many software companies provide company-wide briefings as part of the product sale. .u62a39450e9340618f89fb1f69c69cedf { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u62a39450e9340618f89fb1f69c69cedf:active, .u62a39450e9340618f89fb1f69c69cedf:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u62a39450e9340618f89fb1f69c69cedf { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u62a39450e9340618f89fb1f69c69cedf .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u62a39450e9340618f89fb1f69c69cedf .post Title { color:#000000; text-decoration: underline!important; font-size: 16px; } .u62a39450e9340618f89fb1f69c69cedf:hover .postTitle { text-decoration: underline!important; } READ Online Degree Programs 5 Most Rewarding CareersRelated ArticlesConsulting in the Human Resources FieldCanadian Human Resource DevelopmentThe Key to Your Future is an MBA DegreeHuman Resource Management JobsA Crash Course in Business AdministrationUses of an Online Marketing Degree

Living an Abundant Life Loving Oneself - 1673 Words

An abundant life is a life that everyone has the ability to live. Every person regardless of his or her disabilities, race, culture, affect, or geological location is able to live an abundant life. The meaning of an abundant life put simply is to truly love oneself. If a person can truly live out these seven components, they truly love themselves, and therefore they are living an abundant life. The seven essential components of living an abundant are: the ability to experience joy, the ability to be resilient, the ability to give love others, the ability to receive love from others, the ability to feel emotions, the possession of passion, and an adequate amount of sleep. These seven components are vital to living the abundant life,†¦show more content†¦Without resilience, whenever something bad happens in someone’s life, his or her reaction would be to just give up, therefore the other essential components of their life would cease to exist. Every person has differen t tribulations they face throughout their life. It is important for people to work through these events, but after a certain amount of time it is important for people to move on with their life. The Ability to Give Love to Others A quote from the popular movie Moulin Rouge offers really good insight into the next two components, â€Å"The greatest thing you’ll ever learn is just to love and be loved in return† (Baron, 2001). These next two components go hand in hand. The first is the ability to give love, and the second is the ability to receive love. The ability to give love is an essential component to living an abundant life because love is almost like a nonverbal language, and through love people are able to connect with one another. Love is, â€Å"a universal emotion that has become the basis of marriage and family for many societies† (Braxton-Davis, 2002). Love gives people a sense of belonging, and as Maslow theorized in his Hierarchy of Needs; a sense of belonging is essential for human existence (Cherry). Giving love to others helps people realize how to love him or herself, and how to receive love from others. If a person isn’t able to give love to others or feel love for others, they most likely don’t have much love for themselves either.Show MoreRelatedDiscipleship Is Not A Static Identity Essay1173 Words   |  5 Pagesconcept. It is a dynamic relationship which Jesus initiates to establish with human beings. Jesus summons actively disciples by disclosing and revealing himself to them. In this relationship, human beings are bound to Jesus, the one who calls him, â€Å"the living Lord,† â€Å"not a system of ideas† by this particular way of calling and asked to be the witness of his self-revelation. The nature of discipleship is a command and invitation to be his witness. 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Financial Statement Analysis Research Paper

Question: Describe about the Financial Statement Analysis Research Paper? Answer: Introduction Financial statements help to understand the financial health of a company. However, when accounts are manipulated, it provides a negative usage to stakeholders. Stakeholders face many issues in reading the market such as improper guidelines, fraudulent practices and manipulations. This research paper makes a study of the financial statement analysis issue. The methodology involved is to study the issue through a case study of the financial statement of Apple Inc. The ratio analysis made is through the horizontal method and vertical method. The horizontal method is done through the financial statement analysis, growth expectations and equity valuation of Apple Inc., over a period of 4 years from 2012 to 2015. The analysis is made through figures presented in the annual reports of the company and the issues that stakeholders face while reading the annual reports of a firm. The literature relating to manipulation issues, the causes, methods involved in manipulations is analyzed through Apple Inc. The findings are made and conclusions of the study provided through detailed study. Literature Overview Jerry M Rosenberg has defined Accounting Ratios as any relationship of a companys earnings to the firms market price of its stock. They are also called as financial ratios as they show the relationship between various figures stated in the financial statements. Ratio analysis is the most widely used financial analysis tool. These ratios help to assess the liquidity, profitability and the capital structure of the business, especially to compare the performance of the firm in relation to its previous performance (Sarngadharan kumar, 2011). Financial Statement Analysis Users view the financial statements of a firm for various reasons. Investors look at the profitability of the firm over time and by comparing them with other firms in the same industry. The continuity, stability and solvency of a firm is seen by a strong cash flow. The capital structure gives them a picture of the value of holdings by investors. Other stakeholders include the lenders, pension fund managers, banks, employees and suppliers. The business managers read the financial statements to know the performance of the firm and to spot problems that arise in the firm(Fridson Alvarez, 2002). Securities and Exchange Commission (SEC) The role of the SEC is to protect the interest of stakeholders and to maintain an orderly and efficient market to facilitate capital formation so that firms confirm to transparent accounting practice and also confirm the standards of disclosure as specified(SEC, 2013). Methodology: Case Study-Apple Inc. The research paper consists of current issues regarding the financial statement analysis of stakeholders. The methodology used in this research is through a case study of Apple Inc. The current issues that stakeholders face in reading financial statements are analyzed. Issues arise regarding financial analysis under horizontal and vertical methods. Details regarding Apple Inc and stakeholders involved in Apple Inc. are seen by using various analytical tools. Though the Securities and Exchange Commission (SEC) takes steps to prevent fraudulent practices manipulations, there are many reasons why corporate make use of loopholes in presenting incorrect financial statements. History Apple is an American international company which manufactures personal computers, computer software, mobile phones and computer peripherals. This company was co-founded by Steve Jobs in 1976. It is the third largest mobile phone makers. Some of its well-known products are the iPhone, iPod, the iPad, and the Macintosh line of computers. The financial statement analysis helps to inspect the productivity and feasibility of Apple Inc. through the income statement, the balance sheet, statement of retained earnings and statement of cash flows. Stakeholders of Apple Inc. The interests of the stakeholders are the main concern of Apple Inc in while considering the different aspects of its business. They are Customers or consumers: They are the companys top stakeholders. Providing effective and good products at reasonable prices to customers is the priority of the firm. But customers of Apple have accepted the premium pricing policy along with the superior quality of the product. Employees of Apple Inc Investors Employees of distributors and suppliers Impact of financial statement manipulation The stakeholders are the main users of the financial statement projected annually by the firm The investors, bankers, suppliers, creditors, employees are various stakeholders who read the financial reports and take decisions regarding the relationship with the firm. Unless the stakeholders understand the issues and read between the lines, they will be misled into taking wrong decisions regarding the firm. Big corporate like General Motors, Lehman Brothers, Enron, AIG, Freddie Mac, are some examples of bankrupt firms which predicted wrong financial statements and had to close their firms as they were bankrupt while stakeholders lost their investments in these firms. Financial Statement Analysis(Cook, Apple Inc. - Annual Report, 2015, 2015)(Cook T. , 2014)(Cook, Apple Inc.- Annual Report, 2013)(Cook, Apple Inc.- Annual Report, 2012) (Ernst Young, 2015) Financial Statements are analyzed from the annual reports of companies. A study is made on how stakeholders analyze the financial statement of Apple Inc. Key methods of analyzing financial statements are the horizontal method and the vertical method. The horizontal method analyzes the financial statement over a series of periods. In this sample the financial statements are studied for a period of four years from 2012 to 2015 of Apple Inc. The financial statement analysis, growth expectation and equity valuations are studied. The vertical method analyzes the financial statement between competing firms and between the industry figures. Horizontal method Under the horizontal method, the financial analysis made within the firm by means of ratio analysis over a time-frame. The time-frame considered here is four years from 2012 2015. The ratios analyzed on Apple Inc are to gain knowledge about financial analysis, growth expectation and equity valuation (Sarngadharan kumar, 2011) Financial Analysis Liquidity Ratios Liquidity Ratios 2012 2013 2014 2015 Current Ratio 1.50 1.68 1.08 1.11 Quick Ratio 1.48 1.64 1.05 1.08 Cash Ratio 0.76 0.93 0.40 0.52 Source: Nasdaq(Nasdaq, 2016) Liquidity ratios help to analyze if the firm has the ability to meet its current or short-term obligations The current ratio is very good in 2012 while it has come down in 2015. The current assets are just able to meet the current liabilities in 2015 and are just satisfactory. The Quick ratio shows the overall liquidity position of the firm. This is also known as the liquid ratio. It places more emphasis on the ability of the firm to convert current assets into cash. Quick assets are current assets less inventory and prepaid expenses. A liquid ratio of 1:1 is considered satisfactory and Apple Inc has just satisfactory liquid assets to meet liquid liabilities(Palepu Healy, 2013). The Cash Ratio is a liquidity ratio that reflects the ability of the firm to pay its current liabilities with its cash and cash equivalents. This ratio is analyzed by its creditors. Apple Inc has a cash ratio of less than 1 which shows that it does not have the required cash balance to pay off its debts. In fact, this ratio shows deterioration over the years. The cash balance consists of cash obtained through tax evasion as reported through new articles.(TOI, 2016). Profitability Ratios 2012 2013 2014 2015 Gross Margin 44% 38% 39% 40% Operating Margin 35% 29% 29% 30% Net Margin 27% 22% 22% 23% ROE 43% 31% 34% 46% ROA 42% 26% 26% 31% Source: Morningstar(MorningStar, 2016) Gross Margin: This shows the percentage of revenue that is available to cover operating expenditures and other expenditure. Apple Inc.s GP margin has decreased after 2012 though it is recovering over the years showing that it is increasing its revenue to cover expenses Net margin: This indicates profitability. Apple Inc.s net profit margin has also fallen since 2012, showing a marginal improvement after its fall in 201 . Year on year, the companys revenue has increased to 233.72bn from 192.80bn which is a 27.86 % increase. It has also decreased its cost of goods sold, selling and administrative expenses as well as interest paid as a percentage of sales. These improvements have increased the growth of net income to 53.39bn from 39. T5bn which is 35.14% (Marketwatch, 201). ROE: This measures how much a company generates as profit from the shareholder money invested. It compares the profitability of the company with that of other firms in the same industry. This ratio has also improved after 2013 showing that investments made with the shareholder money get good returns adding to the profit of the business ROA: We find that the ROE exceeds ROA in 2012 and 2015 showing that earnings is more than sufficient to pay the interest charges on levered capital structure(Billingsley, 2006) Growth Expectation Current Qtr Mar 16 Next Qtr June 16 Current Year Sep 16 Next Year Sep 17 Earnings estimate 2.00 1.78 9.07 10.02 Revenue Estimate 52.10B 47.76B 227.45B 240.84B Earnings 2.16 1.81 1.88 3.23 EPS 2.00 1.78 9.07 10.02 Source: Yahoo Finance(Yahoo, 2016) The dividend per share (at a five year average) at 1.26% has grown at 8.7%. This is a noteworthy positive trend since there are not many companies in the communication equipment industry paying such good dividend. The EPS (at 5 year average) is at its highest in 2015. The industry average is 9.39 which show that the company has attained good growth. The estimated growth for September 2017 is 10.02(Yahoo, 2016) The revenue estimate shows a positive trend for the next year The growth-stock newsletter: The Motely Fool has recommended that Apple Inc. will triple its stock markets return over its last 13 year performance. Apple CEO Tim Cook has made bullish statements in its last employee meeting regarding its iPad business Equity Valuation (value in 000s) 2012 2013 2014 2015 Common Stocks $16,422,000 $19,764,000 $23,313,000 $27,416,000 Retained Earnings $101,289,000 $104,256,000 $87,152,000 $92,284,000 Total Equity $118,210,000 $123,549,000 $111,547,000 $119,355,000 EPS 6.31 5.68 6.45 9.07 Dividend 0.38 1.63 1.81 1.98 Source: Nasdaq(Nasdaq, 2016) Balance Sheet (value in 000s) 2012 2013 2014 2015 Current Assets $57,653,000 $73,286,000 $68,531,000 $89,378,000 Total Assets $176,064,000 $207,000,000 $231,839,000 290,479,000 Current Liabilities $38,542,000 $43,658,000 $63,448,000 $80,610,000 Total Liabilities $57,854,000 $83,451,000 $120,292,000 $171,124,000 Source: Nasdaq(Nasdaq, 2016) Current assets include cash and cash equivalents; short-term investments; net receivables and other current assets. Total assets include current assets, long-term investments, fixed assets, goodwill, intangible assets and other assets Current liabilities include accounts payable, short-term debt and other current liabilities have increased significantly from last year Total liabilities include current liabilities, long-term debt, other liabilities and deferred liability charges (Wahlen, 2015). Porters five forces determine the ability of the firm to earn returns on capital that exceeds cost of capital Rivalry within existing firms Threat from new entrants Threat of substitutes Suppliers bargaining power Buyer bargaining power(Viebig, Poddig, Varmaz, 2008). Issues in Horizontal Analysis On analyzing the companys Balance Sheet, we find that The total assets and the total liabilities of the company have grown. However, we find that the liabilities are growing at a higher rate than the total assets though the profits projected are good. The shareholders equity has improved from last year. However, it has not been able to cross the 2013 figure. The statement of financial position and stockholders equity gives information to stakeholders about the company resources which is its assets and the source of capital which is its liabilities and equity Accounting based equity valuation is criticized as the earnings are subject to distortion and manipulation. The accounting numbers reported, affect their personal objectives. Leading Investment banks use the DCF model for equity valuation as investors prefer the present value of the future cash flows low risk, high returns and liquidity. (Wild, Subramanyam, Halsey, 2007) We find that the financial statement analysis through ratios, growth expectation and equity valuation project a good report of Apple Inc. However, we find that profit, sales and value of the firm are not steady as sales are lopsided depends only on iPad and iPhone (Benner, 2015). Vertical Method Through vertical analysis, financial statements, growth expectation and equity valuation are studied between firms within the same industry and compared to industry standards. However, stakeholders face various issues through such comparisons. Apple plays a major role in the cell phone industry and other products. Some of its competitors taken for comparison are HP Inc.and Alphabet Inc. within the electronic equipment industry Comparison between competing firms and industry standards (as of 2015) Apple Inc. HP Inc. Alphabet Inc. Industry Market Cap 589.3 21.06 509.08 993.9 Revenue 234.99 101.74 74.99 637.90 Gross Margin 0.40 0.24 0.62 0.22 Operating Margin 0.30 0.8 0.26 0.05 Net Income 53.73 4.43 16.35 0.05 EPS 9.40 2.08 23.59 0.09 RD Expenses 3.5% - 16.1% - Source: Yahoo Finance(Yahoo, 2016) Issues in Vertical Analysis Hp Inc has a comparatively low market cap but is able to generate higher revenue than Apple Inc. The gross margin and the net margin is also high showing that on a percentage basis, HP inc. generates more profits than Apple Inc. Stakeholders especially shareholders do not make such intimate study on the industry as a whole while making investments. The amount spent on research and development is also comparatively less showing that future products will be impacted by this low expenditure which would affect the future growth of the company(Yahoo, 2016) If Apple has to be compared with software companies, it should be compared to Dell, HP. Lenovo and Microsoft. Hence, with different segments within industries, it is difficult to classify firms within particular industries and make comparisons, as their line of business varies along with its revenues which confuses its stakeholders Apple has product lines like iPad, iPhone, iTunes, Mac, Software and Peripherals while Microsoft has various business divisions like Online Services, Server and Tools, Windows and Windows Live, Entertainment, Devices and Business (Office). From 2007 to 2011, the revenue has increased from $5,000 m to $27,000m for Apple while it has grown from $5,000m to 21,000, for Microsoft. However, the chief reason of growth of Apple is due to iPhone and iPad while it is an overall growth for Microsoft. Though the rate of growth of Microsoft is not as high as Apple, it shows overall growth in revenue which is healthier than Apple(Dediu, 2011). Stakeholders are the main users of the financial statements. By projecting a positive statement, firms are able to attract stakeholders to invest in their firms. This helps them in decision-making regarding investments in firms. Through financial analysis they get an idea of the performance of the firm as they help stakeholders analyse financial statements, study its growth expectation and equity valuation before investing in them(Mohana, 2011). Manipulation Issues Cause for manipulation Statutory flaws The Financial Accounting Standard Board (FASB) which is responsible for the GAAP standards provides various provisions that corporate management makes use of while preparing accounts. Firms make use of the flexibility in GAAP standards to paint a rosy picture of the companys financial position Management Corporate executives are paid in proportion to the financial performance of companies and hence project a positive statement As auditors and corporate executives have a good relationship, the auditors are influenced by corporate to bend accounting rules to keep away negative projections and bolster incomes so that stakeholders get a positive idea about the firm(Gibson, 2011). The accounts are manipulated for various reasons. a) The firm shows bad performance during the current period and can look strong in the years ahead b) To put all poor financial information into the current period so that the fault can be attributed to the current economic environment c) To project good financial information for the future period when the company can get more identity(Wahlen, 2015) Methods of Manipulation of Financial Statements Inflate earnings during the current period through artificially inflating incomes and revenues. Deflate expenses during the current period, artificially to meet expectations. Deflate earnings during the current period as a counterintuitive measure to project a poor performance of the firm. Failing to record expenses or reducing liabilities improperly. Holding back revenue to bolster future performance of the company as a revenue source. To shift future expenses into the current period, such as provision of depreciation and depletion through manipulation of accounting standards. To shift current expenses into the future period or earlier period, such as writing off impaired assets Increase profits through the sale of assets and investments and recording the sale as revenue To record fictitious revenue of sales that do not exist or showing loan proceeds as revenue To record revenue before completing the entire service and before product shipment Issues raised by stakeholders of Apple Inc. Currency Issues Apple Inc has to depend on various countries like China, Korea and India for its products. Currency fluctuations and political factors are ever-persistent risks that the company faces every year and hence comparison over time-period and between industries is tough(FinancialTimes, 2016) P/E ratio Bajarin an industry analyzer on his analysis of Apple Inc, states that market trends and business strategies are being distorted throughout the tech industry which he calls as the reality distortion theory. In the last quarter, Apple has shown a healthy profit margin with its revenue more than $48 billion. Fortune has listed Apple Inc first in four major categories. However the P/E ratio is much lesser than Amazon, Google, Facebook and Dell. Bajarin argues that investors who invest in companies after reading the annual reports come to the conclusion that Apple Inc. is a good investment but if the stock prices are less than that of its peers, they would lose out on their investments(Bajarin, 2013). Cash balance Apple Inc. (AAPL) In the 2015 annual report, Apple has shown that it holds cash of $187 billion. This amount is equal to about 88% of the annual sales of the company. Usually such high cash balance is held as precautionary cash. The reason stated, is that if such cash balances are not held, they will have to depend on debt and capital markets. Another tech company in the late 1970s was Intel, faced such as the situation when it entered innovative technology and had to depend on external capital markets for its fund. However, Faulkner argues that Apple is not using this cash balance as a precautionary reason but to get around the high corporate tax made on the company by the US. He also feels that investors would find such huge cash balance as a positive indication on the stock (Faulkender, 2016). Tax evasion Tax avoidance is an illegal and unethical perspective followed by multinationals like Microsoft, Apple, Google and Starbucks. Apple is described as the largest tax avoider by the Senate Subcommittee on Investigations in US. It has avoided 44billion pounds over the past four years through the Double Irish scheme. It has saved over $12.5 billion through intellectual property rights through commercial benefit in US corporation tax (Colle, 2014). Stock prices Time to time, Apple Inc., stock prices show irregularities. The instance taken for analysis is between September 19, 2013 to December 28, 2013 when the stock closed at $702.10 and 509.8 respectively. The stock had drifted low without any concrete reason such as low earnings or poor product line development. This stock manipulation also took place during July 25, 2013 and August 2013when shares soared 24%. This was an increase of about $135 within 42 trading sessions. These manipulations are due to the ground breaking innovations brought about by Apple and hence movement of these stocks is easier than Microsoft or other firms in the same sector(Johnson, 2013). These stock movements are due to rumors spread deliberately by the management to make use of market movement Forecast rumors Apple has project revenue for the end-of-quarter at $75.5-$77.5 billion. Though the numbers are high, it has fallen below the Wall Street forecast. Forecasts are artificially created by firms to get investor attention. Lopsided growth Another reason for its slow growth is the poor sales in iPad though iPhone continues its growth Though Apple Inc. shows good overall growth, the sales figures are high, mainly due to its iPad and iPhone turnover showing that the company has a lopsided growth. If these products fail, the company will not be able to survive for long (Fool, 2016). Findings The research paper has made a study on the financial statement analysis, growth expectation and equity valuation. The projections that the stakeholder will read through these analysis and the true picture of Apple Inc. through the horizontal and vertical analysis present a vast difference. This is because financial analysis faces various issues. A definite underlying theory to analyze financial statements does not exist: With no definite theory, ratios are subject to untested assertions and are replete Conglomerate firms are large firms having a wide range of industries and diversified product lines. They do not have suitable benchmarks for financial evaluation Window dressing is part of financial accounting practice to present a rosy picture to its stakeholders Price level changes are not included in price level changes Variations in accounting policies between companies such as depreciation policy, valuation of stock, foreign exchange transaction, provision of reserves, research and development and revaluation of assets Interpretation of results have varying yardsticks with industry averages. Hence whether a certain ratio is good or bad cannot be judged easily(Chandra, 2008) Conclusion Apple Inc. is a successful company on a global level playing an important role by producing innovative models and marketing good quality products. The research paper has taken Apple Inc. for its case study to study the financial statement analysis issues. The study has done the financial statement analysis through the horizontal and vertical method by using various ratios from the reports of Apple Inc. Through comparative study over a time period and within firms and the industry, the issues that stakeholders face when they invest their money into Apple Inc. is projected. Manipulations issues affect the financial statement analysis, growth expectation and equity valuation distorting the view of stakeholders who are the real users of the financial statements of the firms. Bibliography Bajarin, B. (2013, March 4). Apple's Reality Distortion Field Relocates to Wall Street. Retrieved March 23, 2016, from Techland Time: https://techland.time.com/2013/03/04/apples-reality-distortion-field-relocates-to-wall-street/ Benner, K. (2015, October 28). Apple's sees another quarter of enviable growth; but can the iPhone grow in fiscal 2016. The Economic Times , pp. 1-10. Billingsley, R. (2006). Understanding Arbitrage: An Intuitive Approach to Financial Anlaysis. New Delhi: Wharton School Publishing. Chandra, P. (2008). Financial Management: Theory and Practice. New Delhi: Mc-Graw-Hill. Colle, S. (2014). State-induced, Strategic, or Toxic? An Ethical Analysis of Tax Avoidance Practices. Business and Professional Ethics Journal , 53-82. Cook, T. (2014). Apple Inc. - Annual Report. Washington: Apple Inc. Cook, T. (2015). Apple Inc. - Annual Report, 2015. Washington D.C.: Apple Inc. Cook, T. (2012). Apple Inc.- Annual Report. Washington D.C.: Apple Inc. Cook, T. (2013). Apple Inc.- Annual Report. Washington D.C.: Apple Inc. Dediu, H. (2011, September 29). Comparing Top Lines: Apple vs. Microsoft. Retrieved March 3, 2016, from ASYMCO: https://www.asymco.com/2011/09/29/c Ernst, Young. (2015). Apple Inc. - Current Report. California: Apple Inc. Faulkender, M. (2016, February 5). Apple Inc. (AAPL) Sitting on $187 billion to Avoid US Tax; Economic Distortion Not Clear. Retrieved March 23, 2016, from Value Walk: https://www.valuewalk.com/2016/02/apple-inc-aapl-sitting-on-187-billion-to-avoid-u-s-tax-economic-distortion FinancialTimes. (2016, March 20). Equities: Apple Inc. Financial Times , pp. 1-5. Fool, M. (2016, February 19). Motely Fool: Investing. Retrieved March 20, 2016, from The Motley Fool: https://www.fool.com/investing/general/2016/02/ Fridson, M., Alvarez, F. (2002). Financial Statement Analysis: A Practioner's Guide. New York: John Wiley Sons. Gibson, C. (2011). Financial Reporting and Analysis: Using Financial Accounting Informatiopn. Australia: Cengage Learning. Johnson, S. (2013, July 1). Apple Inc. (AAPL) Stock Manipulation Report. Retrieved March 23, 2016, from Personal Finance: https://www.pfhub.com/apple-inc-aapl-stock-manipulation-report Marketwatch. (201, March 24). Fact Set Research Systems Inc. Retrieved March 24, 2016, from Market Watch: https://www.marketwatch.com/investing/stock/aapl/financials Mohana, P. (2011). Financial Statement Analysis and Reporting. New Delhi: PHI Learning. MorningStar. (2016, March 17). Financials-Morningstar. Retrieved March 17, 2016, from Apple In AAPL: https://financials.morningstar.com/ratios/r.html?t=AAPL Nasdaq. (2016, March 17). Nasdaq. Retrieved March 17, 2016, from AAPL Company Financials: https://www.nasdaq.com/symbol/aapl/financials?query=ratios Palepu, K., Healy, P. (2013). Business Analysis and Valuation: Using Financial Statements. South-Western: Cengage Learning. Sarngadharan, kumar, R. S. (2011). Financial Analysis for Management Decisions. New Delhi: PHI Learning Priviate Limited. SEC. (2013, June 10). US SEC: What We Do. Retrieved March 24, 2016, from US Securities and Exchange Commission: https://www.sec.gov/about/whatwedo.shtml TOI. (2016, March 20). Apple: News. Times of India , pp. 1-5. Viebig, J., Poddig, T., Varmaz, A. (2008). Equity Valuation: Models from Leading Investment Banks. West Sussex: John Wiley Sons. Wahlen, J. (2015). Financial Reporting, Financial statement Analysis and Valuation. Mason: Content Technologies. Wells, J. (2011). Corporate Fraud Handbook: Prevention and Detection. New Jersey: John Wiley Sons. Wild, J., Subramanyam, Halsey, R. (2007). Financial Statement Analysis. New Delhi: Tata McGraw-Hill. Yahoo. (2016, March 24). Apple Inc (AAPL). Retrieved March 24, 2016, from Yahoo Finance: https://in.finance.yahoo.com/q/co?s=AAPL

Supply Chain and Overall Strategy Of Wal

To begin with, Wal-Mart’s overall business strategy is composed of goals, core activities, and product-market focus (Heizer Render, 2011). The goals of the company are to dominate markets, utilize low cost systems, promote high growth, and to do it the Wal-Mart way (Krajewski et al., 2009).Advertising We will write a custom essay sample on Supply Chain and Overall Strategy Of Wal-Mart specifically for you for only $16.05 $11/page Learn More The core activities of the organization are to integrate logistics, manage them intensely, and to tailor them according to the local situation. The product-market focuses entails provision of branded general merchandise, value oriented customers, develop easier markets first, and to work from regional hubs. All these contribute to the value proposition of the organization (Stevenson, 2008). The supply chain strategy of the organization entails purchasing the goods and materials that the company uses for the lo west prices available in the market to them to retail at customer friendly prices. The organization is known to bypass intermediaries and middle men and to negotiate intensively during purchase of goods, services and materials (Heizer Render, 2011). The organization is also known to prefer local manufactures as well as preferring the manufacturers that demonstrated transparent cost structures. The organization then establishes long term relationships with these types of manufacturers. The organization’s logistics are among the most efficient in large businesses today (Stevenson, 2008). Distribution centers are served by a fleet of not less than 3000 trucks that are owned by the organization. These are for the purpose of transporting goods to the Wal-Mart outlets twice every week due to the high flow of goods from the organization’s individual stores. These are supervised by a coordinator. The organization employs cross-docking for the purpose of managing the acquisiti on of goods from their suppliers. In addition, decisions concerning merchandising, pricing, and promotions have been decentralized and left to the market forces; this is managed by stores, distribution centers, and suppliers (Krajewski et al., 2009). The organization has instilled information technology and communication systems to aid their inventory management and set up its own satellite communication system in the 1980’s. The satellite connected the organization’s numerous stores as well as the organization’s suppliers to the organization.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This was done for the purpose of enabling the organization to attend to the individual needs of individual stores in a timely manner and to enable the workers to update themselves on all aspects of the inventory in stores, deliveries, and back up merchandise at the organizationâ€⠄¢s distribution points (Heizer Render, 2011). The organization’s supply chain enables the organization to meet its goals that have been outlined earlier in this essay (Krajewski et al., 2009). Due to establishment of an ICT system specifically for the organization, the organization has successfully managed to reinforce their relationships with their customers, employees, individual stores, and their suppliers. This has enabled the organization to have value-oriented customers, to have an integrated logistics system, ensure that their stores always have sufficient stock, and thus promote the business as reliable to its customers, employees and suppliers alike. The organization’s ability to search and engage only the lowest cost supplier as well as having their own transportation has paid dividends as well (Stevenson, 2008). The low costs were passed on to the customers as well and this added value to the organization’s every step and process. In addition, the o wnership of its own fleet of vehicles also lowered costs and enabled prompt availability of the goods to their customers. This has resulted in the domination of markets by the organization, high growth, friendly prices for their goods and availability of these goods at all times (Krajewski et al., 2009). In conclusion, this organization’s supply chain and overall strategy has enabled the organization to realize shorter time in inventory turnover, prompt and correct prediction of inventory levels and enabled utilization of working capital among other benefits (Stevenson, 2008). The Wal-Mart model is touted as one of the best in supply chain management owing to the benefits it has accorded the organization and given it an edge over its competitors (Heizer Render, 2011). References Heizer, J, Render, B. (2011). Operations Management (10th ed.). Boston, MA: Prentice-Hall.Advertising We will write a custom essay sample on Supply Chain and Overall Strategy Of Wal-Mart specif ically for you for only $16.05 $11/page Learn More Stevenson, J. (2008). Operations Management. London: Continuum. Krajewski, L. Ritzman, P. Malhotra, K. (2009). Operations Management (9th Edition). New York: Academic Publishers. This essay on Supply Chain and Overall Strategy Of Wal-Mart was written and submitted by user Amber F. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.