Financial Ratios for East Coast Yachts

Question 1: Financial ratios for East Coast Yachts: Current ratio| =| Current Assets| | | Debt-equity ratio| =| Total liabilities| | | Current Liabilities| | | | | Total equity| | =| $14,651,000 | | | | =| $19,539,000 + $33,735,000| | | $19,539,000 | | | | | $55,341,000 | | =| 0. 75| | | | =| 0. 96| | | | | | | | | | | | | | | | | Quick ratio| =| Current Assets – Inventory| | | Equity multiplier| =| Total assets| | | Current Liabilities| | | | | Total equity| | =| $14,651,000 – $6,136,000| | | | =| $108,615,000 | | | $19,539,000 | | | | | $55,341,000 | | =| 0. 44| | | | =| 1. 96| | | | | | | | | | | | | | | | Total asset turnover| =| Sales| | | Interest coverage| =| EBIT| | | Total Assets| | | | | Interest| | =| $167,310,000 | | | | =| $23,946,000 | | | $108,615,000 | | | | | $3,009,000 | | =| 1. 54| | | | =| 7. 96| | | | | | | | | | | | | | | | | Inventory turnover| =| COGS| | | Profit margin| =| Net Income| | | Inventory| | | | | Sales| | =| $117,910,000 | | | | =| $1 2,562,200 | | | $6,136,000 | | | | | $167,310,000 | | =| 19. 22| | | | =| 7. 51%| | | | | | | | | | | | | | | | | Receivables turnover| =| Sales| | | Return on assets| =| Net Income| | | Accounts receivable| | | | | Total assets| =| $167,310,000 | | | | =| $12,562,200 | | | $5,473,000 | | | | | $108,615,000 | | =| 30. 57| | | | =| 11. 57%| | | | | | | | | | | | | | | | | Debt ratio| =| Total assets – Total equity| | | Return on equity| =| Net Income| | | Total assets| | | | | Total equity| | =| $108,615,000 – $55,341,000| | | | =| $12,562,200 | | | $108,615,000 | | | | | $55,341,000 | | =| 0. 49| | | | =| 22. 70%| | | | | | | | | | | | | | | | | Question 2: | | East Coast Yachts| | Yacht Industry Ratios| | | | | Lower Quartile| Median| Upper Quartile| Current ratio| | 0. 75| | 0. 50| 1. 43| 1. 9| Quick ratio| | 0. 44| | 0. 21| 0. 38| 0. 62| Total asset turnover| | 1. 54| | 0. 68| 0. 85| 1. 38| Inventory turnover| | 19. 22| | 4. 89| 6. 15| 10. 89| Receivables turnover| | 30. 57| | 6. 27| 9. 82| 14. 11| Debt ratio| | 0. 49| | 0. 44| 0. 52| 0. 61| Debt-equity ratio| | 0. 96| | 0. 79| 1. 08| 1. 56| Equity multiplier| | 1. 96| | 1. 79| 2. 08| 2. 56| Interest coverage| | 7. 96| | 5. 18| 8. 06| 9. 83| Profit margin| | 7. 51%| | 4. 05%| 6. 98%| 9. 87%| Return on assets| | 11. 57%| | 6. 05%| 10. 53%| 13. 21%| Return on equity| | 22. 70%| | 9. 93%| 16. 54%| 26. 15%|The liquidity ratio shows that the company has less liquidity as compare to the whole industry. East Coast Yachts current ratio is below the median industry ratio and the quick ratio is positioned at the median industry ratio. This indicates that the company may access to short-term borrowing. Referring to the turnover ratio, all the three ratios, I. e. total asset turnover, inventory turnover and receivables turnover are higher than upper quartile industry ratio. This indicates that the company is more efficient among the whole industry in using its assets to generate sales.The financial levera ge ratios, which include the debt ratio, debt-equity ratio, equity multiplier and interest coverage, are all below the median industry ratio, but higher than the lower quartile. This shows that East Coast Yachts is having less debt than the other companies in the industry, but is still within the normal range. The profit margin, return on assets as well as return on equity of the company are higher than the industry median. This shows that the company’s profitability is performing well among the whole industry.As an overall, East Coast Yachts is performing well in the industry, while more concentration would only be required to be placed on the liquidity ratios. Question 3: Return on equity = 22. 70% Retention ratio (b)| =| Net income – Dividends| | | Net Income| | =| $12,562,200 – $7,537,320| | | $12,562,200 | | =| 40%| Sustainable growth rate (SGR) = Return on equity x Retention ratio = 22. 70% x 0. 4 = 9. 08% Increase in assets| =| Assets| x| ? Sales| | | Sal es| | | | =| $108,615,000 | x| (167,310,000 x 9. 08%)| | | $167,310,000 | | | | =| $9,862,242. 00 | | | | | | | |Increase in spontaneous liabilities| =| Spontaneous liabilities| x| ? Sales| | | Sales| | | | =| $6,461,000 | x| (167,310,000 x 9. 08%)| | | $167,310,000 | | | | =| $ 586,658. 80 | | | | | | | | Retention ratio (b)| =| Addition to RE| | | | | Net income| | | | =| $5,024,880 | | | | | $12,562,200 | | | | =| 40%| | | | | | | | Profit margin| =| Net income| | | | | Sales| | | | =| $12,562,200 | | | | | $167,310,000 | | | | =| 8%| | | | | | | | Increase in equity| =| PM x Projected sales x retention ratio| | =| 8% x ($167,310,000 x 1. 0908) x 0. 4| | =| $5,840,055. 94 | | | | | | | | External Funds Needed (EFN)| =| Increase in assets – Increase in spontaneous liabilities – Increase in equity| | =| $9,862,242. 00 – $586,658 – $5,840,056| | =| $3,435,527. 26 | | | | | | | | | | | | | East Coast Yachts| | | Pro forma Income Statement| | | Sales| | 182 ,501,748| | | Cost of goods sold| | 128,616,228| | | Other expenses| | 21,809,455| | | Depreciation| | 5,460,000| (Assume constant)| Earnings before interest and taxes (EBIT)| 26,616,065| | | Interest| | 3,009,000| (Assume constant)|Taxable income| | 23,607,065| | | Taxes (40%)| | 9,442,826| | | Net Income| | 14,164,239| | | Dividends| | 8,221,709| | | Addition to RE| | 5,481,139| | | | | | | | East Coast Yachts| | | Pro forma Balance Sheet| | | Assets| | | | | Current assets| | | | | Cash| | 3,318,214| | | Accounts receivable| | 5,969,948| | | Inventory| | 6,693,149| | | Total| | 15,981,311| | | Fixed assets| | | | | Net plant and equipment| | 102,495,931| | | | | | | | | | | | | Total assets| | 118,477,242| | | | | | | | Liabilities| | | | | Current liabilities| | | | | Accounts payable| | 7,047,659| | | Notes payable| | 14,265,482| | |Total| | 21,313,141| | | | | | | | Long term debt| | 33,735,000| | | | | | | | Shareholders' equity| | | | | Common stock| | 5,200,000| | | Retaine d earnings| | 54,693,803| | | Total equity| | 59,893,803| | | | | | | | Total liabilities and equity| | 114,941,944| | | | | | | | EFN| | 3,535,298| | | Current ratio| =| Current Assets| | Debt-equity ratio| =| Total liabilities| | | Current Liabilities| | | | Total equity| | =| $15,981,311 | | | =| $21,313,141 + $33,735,000| | | $21,313,141 | | | | 59,893,803 | | =| 0. 75| | | =| 0. 92| | | | | | | | | | | | | | |Quick ratio| =| Current Assets – Inventory| | Equity multiplier| =| Total assets| | | Current Liabilities| | | | Total equity| | =| $15,981,311 – $6,693,149| | | =| $118,477,242 | | | $21,313,141 | | | | $59,893,803 | | =| 0. 44| | | =| 1. 98| | | | | | | | | | | | | | | Total asset turnover| =| Sales| | Interest coverage| =| EBIT| | | Total Assets| | | | Interest| | =| $182,501,748 | | | =| $26,616,065 | | | $118,477,242 | | | | $3,009,000 | | =| 1. 54| | | =| 8. 85| | | | | | | | | | | | | | | Inventory turnover| =| COGS| | Profit margin| =| Net Income| | | Inventory| | | | Sales| =| $128,616,228 | | | =| $14,164,239 | | | $6,693,149 | | | | $182,501,748 | | =| 19. 22| | | =| 7. 76%| | | | | | | | | | | | | | | Receivables turnover| =| Sales| | Return on assets| =| Net Income| | | Accounts receivable| | | | Total assets| | =| $182,501,748 | | | =| $14,164,239 | | | $5,969,948 | | | | $118,477,242 | | =| 30. 57| | | =| 11. 96%| | | | | | | | | | | | | | | Debt ratio| =| Total assets – Total equity| | Return on equity| =| Net Income| | | Total assets| | | | Total equity| | =| $118,477,242 – $59,893,803| | | =| $14,164,239 | | | $118,477,242 | | | | $59,893,803 | | =| 0. 49| | | =| 23. 5%| | | East Coast Yachts| | | Original ratios| | Based on pro forma| Current ratio| | 0. 75| | 0. 75| Quick ratio| | 0. 44| | 0. 44| Total asset turnover| | 1. 54| | 1. 54| Inventory turnover| | 19. 22| | 19. 22| Receivables turnover| | 30. 57| | 30. 57| Debt ratio| | 0. 49| | 0. 49| Debt-equity ratio| | 0. 96| | 0. 92| Equity multiplier| | 1. 96| | 1. 98| Interest coverage| | 7. 96| | 8. 85| Profit margin| | 7. 51%| | 7. 76%| Return on assets| | 11. 57%| | 11. 96%| Return on equity| | 22. 70%| | 23. 65%| As noted from above, the liquidity and turnover ratio will remain constant assuming growth precisely at 9. 8%. Debt-equity ratio will decreased slightly while equity multiplier and interest coverage increased, assuming interest remain constant. Slight improvement also noted from profit margin, return on assets and return on equity. Question 4: Growth rate| | 20%| | | | | | | | Increase in assets| =| Assets| x| ? Sales| | | Sales| | | | =| $108,615,000 | x| (167,310,000 x 20%)| | | $167,310,000 | | | | =| 21,723,000. 00 | | | | | | | | Increase in spontaneous liabilities| =| Spontaneous liabilities| x| ? Sales| | | Sales| | | | =| $6,461,000 | x| (167,310,000 x 20%)| | $167,310,000 | | | | =| $1,292,200. 00 | | | | | | | | Retention ratio (b)| =| Addition to RE| | | | | Net income| | | | =| $5,024,880 | | | | | $12,562 ,200 | | | | =| 40%| | | | | | | | Profit margin| =| Net income| | | | | Sales| | | | =| $12,562,200 | | | | | $167,310,000 | | | | =| 8%| | | | | | | | Increase in equity| =| PM x Projected sales x retention ratio| | =| 8% x ($167,310,000 x 1. 2) x 0. 4| | | =| $6,424,704. 00| | | | | | | | External Funds Needed (EFN)| =| Increase in assets – Increase in spontaneous liabilities – Increase in equity| | =| $21,723,000. 0 – $1,292,200. 00 – $6,424,704. 00| | =| $14,006,096. 00| | | | | | | | | | | | | | | | | | East Coast Yachts| | | Pro forma Income Statement| | | Sales| | 200,772,000| | | Cost of goods sold| | 141,492,000| | | Other expenses| | 23,992,800| | | Depreciation| | 5,460,000| (Assuming constant)| Earnings before interest and taxes (EBIT)| 29,827,200| | | Interest| | 3,009,000| (Assuming constant)| Taxable income| | 26,818,200| | | Taxes (40%)| | 10,727,280| | | Net Income| | 16,090,920| | | Dividends| | 9,044,784| | | Addition to RE| | 6,029,85 6| | | | | | | | East Coast Yachts| | |Pro forma Balance Sheet| | | Assets| | | | | Current assets| | | | | Cash| | 3,650,400| | | Accounts receivable| | 6,567,600| | | Inventory| | 7,363,200| | | Total| | 17,581,200| | | Fixed assets| | | | | Net plant and equipment| | 112,756,800| | | | | | | | | | | | | Total assets| | 130,338,000| | | | | | | | Liabilities| | | | | Current liabilities| | | | | Accounts payable| | 7,753,200| | | Notes payable| | 15,693,600| | | Total| | 23,446,800| | | | | | | | Long term debt| | 33,735,000| | | | | | | | Shareholders' equity| | | | | Common stock| | 5,200,000| | |Retained earnings| | 60,169,200| | | Total equity| | 65,369,200| | | | | | | | Total liabilities and equity| | 122,551,000| | | | | | | | EFN| | 7,787,000| | | | | East Coast Yachts| | | Original ratios| | Growth @9. 08%| | Growth @20%| Debt-equity ratio| | 0. 96| | 0. 92| | 0. 87| Equity multiplier| | 1. 96| | 1. 98| | 1. 99| Interest coverage| | 7. 96| | 8. 85| | 9. 91| Profit margin| | 7. 51%| | 7. 76%| | 8. 01%| Return on assets| | 11. 57%| | 11. 96%| | 12. 35%| Return on equity| | 22. 70%| | 23. 65%| | 24. 62%| The growth rate of 20% indicates that the EFN is $7,787,000.Debt-equity ratio will decrease by 0. 05. The profit margin, return on assets and return on equity shows improvement if the expansion plan was taken up, assuming interest and depreciation remain constant. The further expansion may be taken up as it will bring improvement to the company’s profitability. Also, debt-equity ratio is still below 1 hence there is room for the expansion to be taken up. Question 5: Depreciation rate| =| Depreciation| | | | | PPE| | | | =| $5,460,000 | | | | | $93,964,000 | | | | =| 5. 81%| | | | | | | | Cost of new line| | 30,000,000| | |New depreciation charged| | 1,743,220. 81| | | | | | | | | | | | | East Coast Yachts| | | Pro forma Income Statement| | | Sales| | 200,772,000| (Assuming growth rate 20%)| Cost of goods sold| | 141,492,000| (Assuming growth rat e 20%)| Other expenses| | 23,992,800| (Assuming growth rate 20%)| Depreciation| | 1,743,221| | | Earnings before interest and taxes (EBIT)| | 33,543,979| | | Interest| | 3,009,000| (Assuming constant)| Taxable income| | 30,534,979| | | Taxes (40%)| | 12,213,992| | | Net Income| | 18,320,988| | | Dividends| | 9,044,784| | | Addition to RE| | 6,029,856| | | | | | | East Coast Yachts| | | Pro forma Balance Sheet| | | Assets| | | | | Current assets| | | | | Cash| | 3,650,400| | | Accounts receivable| | 6,567,600| | | Inventory| | 7,363,200| | | Total| | 17,581,200| | | Fixed assets| | | | | Net plant and equipment| | 141,013,579| | | | | | | | Total assets| | 158,594,779| | | | | | | | Liabilities| | | | | Current liabilities| | | | | Accounts payable| | 7,753,200| | | Notes payable| | 15,693,600| | | Total| | 23,446,800| | | | | | | | Long term debt| | 33,735,000| | | | | | | | Shareholders' equity| | | | | Common stock| | 5,200,000| | |Retained earnings| | 60,169,200| | | Total equity | | 65,369,200| | | | | | | | Total liabilities and equity| | 122,551,000| | | | | | | | New EFN| | 36,043,779| | | Existing EFN| | 7,787,000| | | Additional EFN| | 28,256,779| | | Depreciation charged from increase in fixed assets at SGR of 20% was $1,743,220. 81. The new plant would cost $30,000,000. The additional EFN would be $28,256,779. The total EFN would become $36,043,779. This would imply that the capacity utilization would be lower next year, since the new plant would expand capacity much more than the required under SGR.

19th Amendment to the Constitution

19th Amendment to the Constitution * Women gained the right to vote in 1920 in the 19th Amendment. Due to societal norms of the past, many women chose not to vote. The League of Women Voters was formed the same year to educate women about political issues and candidates, as well as encourage participation in the political process. One of the founders was the president of the National American Woman Suffrage Association, Carrie Chapman Catt. Read more: Roaring Twenties Political Events | eHow. com http://www. ehow. com/list_7794192_roaring-twenties-political-events. tml#ixzz1gYm7jWyN Sunday, William â€Å"Billy† 1862-1935 The Best-Known Evangelist in America. Billy Sunday entered the 1920s as the best-known revivalist in America. His great campaign in New York City in 1917 coincided with America's entry into the Great War, and in his sermons Sunday managed to fuse Christianity and American patriotism to the delight of millions. His success was even greater when he was able to c elebrate the death of his longtime enemy, â€Å"John Barleycorn,† with the adoption of Prohibition. He even attained some wealth, In 1920 Dun and Bradstreet estimated his worth at $1. million. Decline. However, the 1920s were not pleasant for Sunday and his wife. While he continued to attract large audiences and led thousands to hit the â€Å"sawdust trail† that led to the altars of the tabernacles he had put up for his revivals, these special buildings no longer went up in the largest cities of the North, and he found himself working medium-sized crowds. Economic Growth in the 1920s Despite the 1920-1921 depression and the minor interruptions in 1924 and 1927, the American economy exhibited impressive economic growth during the 1920s.Though some commentators in later years thought that the existence of some slow growing or declining sectors in the twenties suggested weaknesses that might have helped bring on the Great Depression, few now argue this. Economic growth ne ver occurs in all sectors at the same time and at the same rate. Growth reallocates resources from declining or slower growing sectors to the more rapidly expanding sectors in accordance with new technologies, new products and services, and changing consumer tastes. Economic growth in the 1920s was impressive.Ownership of cars, new household appliances, and housing was spread widely through the population. New products and processes of producing those products drove this growth. The combination of the widening use of electricity in production and the growing adoption of the moving assembly line in manufacturing combined to bring on a continuing rise in the productivity of labor and capital. Though the average workweek in most manufacturing remained essentially constant throughout the 1920s, in a few industries, such as railroads and coal production, it declined. Whaples 2001) New products and services created new markets such as the markets for radios, electric iceboxes, electric ir ons, fans, electric lighting, vacuum cleaners, and other laborsaving household appliances. This electricity was distributed by the growing electric utilities. The stocks of those companies helped create the stock market boom of the late twenties. RCA, one of the glamour stocks of the era, paid no dividends but its value appreciated because of expectations for the new company. Like the Internet boom of the late 1990s, the electricity boom of the 1920s fed a rapid expansion in the stock market.Fed by continuing productivity advances and new products and services and facilitated by an environment of stable prices that encouraged production and risk taking, the American economy embarked on a sustained expansion in the 1920s. Answer: Improve Positive effects- it created jobs, it created wealth, and it produced better living Negative effects- living conditions were bad, workers got seriously injured/killed, cities became crowded, and some countries tried imperialism Read more: http://wiki . answers. com/Q/What_were_the_positive_and_negative_effects_of_industrialization_between_1890_and_1920#ixzz1gYpL2o4R

How to Grow Color Change Crystals

If you enjoy growing crystals, try this simple project that produces large crystals that change color from yellow to green to blue depending on light and temperature.  The crystals grow over a few hours to overnight and are sure to amaze! Color Change Crystal Materials Two chemicals react to produce the color change in the crystals: 10 grams potassium alum (potassium aluminum sulfate)3 grams red prussiate [potassium hexacyanoferrate(III)]50 milliliters hot water Alum is easy to find, but youll likely need to order red prussiate online. Another option is to simply order a color change crystal kit. The one by Thames and Kosmos is reliable and includes a total of three experiments. Prepare the Solution and Grow Crystals In a small clear container, simply dissolve the potassium alum and red prussiate in 50 milliliters of hot water. It make take a few minutes for the salts to fully dissolve. If you still have undissolved material after a couple of minutes, you can carefully set your container inside another larger container of very hot water, to act as a hot water bath and help the salts dissolve.Once the chemicals are dissolved, set your container of chemicals in a location where the crystals can grow without being disturbed.Youll start to see tiny crystals after 30 minutes to a couple of hours. Crystal growth should be complete overnight to a couple of days, depending mostly on temperature and the humidity of the air. At this point, the crystals will be yellowish green or green, depending on the temperature at which they grew.When you are satisfied with the crystal growth, use a spoon to remove the crystals from the container. You can set them on a saucer to dry. Dispose of the chemical solution by pouring it down the drain and rinsing with water.The easiest way to observe the color change is to divide the crystals between two containers. Place one container in a dark cabinet or closet and put the other container on a sunny window sill.Check on your crystals each day. Over time, the crystals in the sunlight will change color from yellow to green to blue. The crystals in the dark will remain yellow. The color change could take a couple of days, but in my experience, you see it within an hour or two. When I took the photo, the crystal on the left was canary yellow, but darkened to yellowish green under the bright lights How Color Changes Crystals Work Light and heat supply the energy to cause  a chemical reaction between the alum and red prussiate to produce Prussian blue or Berlin blue. This is an iron-based dye still in use today for blue ink cartridges and paints. Make Prussian Blue InkUse Prussian Blue in a Crystal Garden Safety Information The chemicals used in this project are safe to use, but you should wash your hands after handling the crystals, because the red prussiate and your crystals contain iron, which can be toxic if you get too much. Keep the chemicals and crystals out of reach of pets and young children for this reason. The kitchen is a perfect place to mix the solution and grow crystals, but be careful you dont get burned by the hot water and be sure to keep the chemicals and crystals away from food. Rinse any kitchen cookware you use so it doesnt have chemical residue. More Chemicals That Grow Crystals

Analysis Of Rip Van Winkle And The Legend Of Sleepy...

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In a way, silent film does something that the mod ern day special effects spectaculars do not do: it leaves more to the imagination and calls upon the viewer to use his or her own mind in correspondence with the moving pictures. This paper will analyze what it is that makes silent film unique and show how the nature of silent film allows viewers to envision for themselves thoseRead MoreFantasy And Reality Are Two Opposing Themes1458 Words   |  6 Pageshuman’s imagination is the birthplace of anything that is to come. A.M. Homes touches upon the darkest of things that can arise from the fantasies one creates. The End of Alice was written by A.M. Homes to display to the reader that the most horrifying thing about the world is our own imagination, thoughts, and fantasies. Throughout the novel, Homes creates graphic scenes that are constantly frightening the reader. Each scene is retold by Chappy, seemingly solely existing in his imagination. 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Fraud Theory Analysis of the Zarmoon-Free-Samples for Students

Question: Write a Fraud Theory Analysis of the Zarmoon Inshanalli Case, and post your analysis to the Case Discussion 2 forum. Answer: Case Facts It can be noted that Ms. Inshanalli was charged of committing fraud under section 380(1) and 733.(1) of the Criminal code.She had pleaded guilty to the charge of committing fraud which amounted to more than $5000. It is to be stated that Ms. Inshanalli had been working in WSC Corporation Coppinwood Golf Club as a book keeper for a period of almost two years from April 2014 to January 2016. During the course of her employment Ms. Inshanalli had fraudulently written 134 cheques to herself. It is to be stated that all the cheques had been deposited into different bank accounts of Zamroon Nisha Inshanalli and were written to her name. Further 125 of the cheques written by her contained Gerard Waslens Signature, which she had forged. Zamroon Nisha Inshanalli is the wife of RaffiqInshanalli. They have a son who resides with them and is 34 years of age. Zamroon Niha Inshanalli is 62 years old. It was apparent that the son and husband of Ms. Inshanalli were aware of her fraudulent activities and her convictions in the past for the same reasons. It can be stated, in this case that the defendant had committed fraud amounting to $463,824.42. The defendant in this case, Ms Inshanalli however had made a restitution of $54,000. $409,824.42 were left as outstanding dues. Fraud theory analysis Numerous fraud theories can be used and applied in this case for analyzing the misconduct of the fraudsters and discuss the main reasons for committing fraud by fraudsters (Morales, Gendron Gunin-Paracini, 2014). The fraud theories that will be applied in this case are: Fraud Triangle theory This theory states that three different factors can transform a person who is trustworthy to a fraudster. The aforementioned factors are: Perceived Pressure The motivation to commit fraud is provided to the fraudsters by the perceived pressure (Schuchter Levi, 2015). At times trustworthy people resort to committing fraud as a result of facing acute financial problems which cannot be solved lawfully. As a result of facing such financial problems trustworthy people resort to illegal and unethical standards. Perceived opportunity- It is to be mentioned that a person, who is trustworthy commits a fraudulent activity when he finds an opportunity to take advantage of the victims trust (Free, 2015). This factor provides explanation of how the fraud takes place. Rationalization- It is to be noted that most fraudsters are not criminals and therefore they can personally justify the reasons for committing frauds. However, the principle of rationalization is not to be applied to assess the reason of committing fraud by predatory fraudsters. The factors of the fraud triangle theory cannot be implemented in this chosen case as it has been noted that Ms Inshanalli had been convicted of fraudulent activities in the past on two occasions. Her first conviction was on May 13 2004 for a theft of $750,000. She had again committed theft of $141,000 over a time period of two years from 2010 to 2012 from her employer, Sherwood Innovations. On the second occasion she had pleaded guilty and had to serve an eighteen month conditional sentence followed by a probation period of two years. Therefore after analyzing the aforementioned facts it is to be said that her behavior resembles that of predatory fraudster. The Fraud Scale It can be said that this theory came into being in the 1984 and it substituted the theory of fraud triangle. The Fraud Scale theory considers the factor integrity in addition to the al other factors of the theory of Fraud Triangle (Schuchter Levi, 2015). The commitment of a person to ethics is the factor that assesses the integrity of the person. Therefore it can be stated that a person acting under low pressure, with low opportunity and high integrity is less expected to commit fraud than some who has low integrity, high opportunity and under high pressure. In this chosen case study it can be stated that the principles of fraud scale theory cannot be completely applied as the defendant, Ms Inshanalli had exhibited similar conduct on numerous occasions in the past. However, the factor integrity can be assessed in this given scenario. She had exhibited low integrity and was presented with high opportunity. The combination of these two factors increased her chances of committing fraud Rational Choice Theory It is to be stated that this theory has three main and main conditions of fraud. They are: Individuals aim and act to fulfill their self interest. Individuals aim to maximize their personal goals The fraudster often places his own interests above the interest of any other party. The rational theory suggests that offenders commit a crime after evaluating the benefits to be acquired by the crime and consequences of committing the same (Anand, Dacin Murphy, 2015). In the aforementioned case it can be stated that the defendant had committed fraud on numerous occasions as she had perceived that it was easy to get away with it. She had committed the frauds to improve her well being and financial status which seemed to be of greater importance than the consequence of it. Conclusion Thus to conclude it is be stated that all the theories discussed above have been able to analyze the factors that drive individuals to commit fraud. It is to be stated that in the R vs Paterson, 2013, case it was analyzed by the court that the defendants main motive to commit fraud was to recover from the financial crisis faced by him due to his failing business. Thus by applying the theory of fraud triangle it is to be said that the defendant had been under a lot of pressure and thus seized the opportunity to take advantage of his position. It is mainly due to this reason that he committed the fraud. In this case the defendant was not under any pressure and she committed fraud primarily because she wanted to improve her financial status and her well being. By the application of the Rationalization theory it is to be said that she had committed the crimes as she had assessed that the consequences of the crimes likely to be faced by her were outweighed by the benefit of the crime. Bibliography: Anand, V., Dacin, M. T., Murphy, P. R. (2015). The continued need for diversity in fraud research.Journal of Business Ethics,131(4), 751-755. Free, C. (2015). Looking through the fraud triangle: A review and call for new directions.Meditari Accountancy Research,23(2), 175-196. Morales, J., Gendron, Y., Gunin-Paracini, H. (2014). The construction of the risky individual and vigilant organization: A genealogy of the fraud triangle.Accounting, Organizations and Society,39(3), 170-194. v. Inshanalli, 2017 ONCJ 234 v. Paterson, 2013 BCPC 5 Schuchter, A., Levi, M. (2015, September). Beyond the fraud triangle: Swiss and Austrian elite fraudsters. In Accounting Forum(Vol. 39, No. 3, pp. 176-187). Elsevier. Schuchter, A., Levi, M. (2015, September). Beyond the fraud triangle: Swiss and Austrian elite fraudsters. InAccounting Forum(Vol. 39, No. 3, pp. 176-187). Elsevier. Schuchter, A., Levi, M. (2016). The fraud triangle revisited.Security Journal,29(2), 107-121.

Marketing Simulation Essay Example Essay Example

Marketing Simulation Essay Example Paper Marketing Simulation Essay Introduction Orange experienced a very successful campaign and grew more profitable over the six quarters throughtout the Market Simulation. In terms of market share in comparison to the competition, we placed fourth holding 12 percent market share. We initially targeted the Mercedes market, and later developed products aimed at the Traveler and Workhorse clientele. In terms of profitability, we suffered a loss moving from Quarter 1 to Quarter 2, which is typical of most early-stage companies. However, each quarter thereafter we were able to maintain a profit, ending with $18,270,122 gross profit and $15,232,910 operating profit. Our six computer models are the driving factor behind such success. These models include The Motherboard, Babyboard 2. 0, Horseboard, Superboard, Toddlerboard, and The Ponyboard. The Superboard, out of all the models, was our most profitable device with $6,303,840 in profit. We also embarked on a major expansion endeavor, spreading our brand originally from Chicago to Pa ris, Shanghai, and Sao Paulo. Our knowledgeable sales force comprised of 60 individuals, coupled with our extensive advertising and competitive pricing allowed Orange to rise to the top. By the end of the Marketplace Simulation, Orange was in first place for cumulative total performance, accounting for a variety of business disciplines that contributed to our success. While we placed third in the simulation in terms of overall financial performance, we placed first overall for market performance and marketing effectiveness. Brand Design: Over the course of the six quarters, we made varying adjustments to our brands in order to keep up with the ever-changing competitive markets. Marketing Simulation Essay Body Paragraphs In Quarter 2, we decided to enter the Mercedes market with The Motherboard computer. Specifically, this brand was designed to be the top of the line product that suited all the most important needs of Mercedes. Some of these needs included a fast and powerful processor, the ability to link with other computers, and a machine that is capable of multitasking (Fig 1. 1). We figured that starting out in the highest-end market would be beneficial to creating a good name for our company, and then we would be able to trickle down throughout the other brandstarget market segments. Our results from Quarter 2 showed that we were successful with The Motherboard, as we possessed 46 percent of the market share for Mercedes. In Quarter 3, we introduced The Babyboard to the Traveler market segment. We designed our product to match the best-suited brand for Traveler, which was SwifTech’s Quickfly. We were slow to expand from our original two brands, and lost some of our momentum with our Quar ter 4 decisions. When we got our results, we realized that we needed to introduce more brands in order to keep up with the highly competitive markets. Quarter 5 marked our first Quarter quarter of rapid expansion. We introduced an additional product lines to Mercedes and Traveler, and created our first unit product for Workhorse. The new product lines for Mercedes and Traveler, The Superboard and The Toddlerboard respectively, were the higher quality versions of the The Motherboard and the The Babyboard. They , which were enhanced with all of the necessities and priced slightly higher than the original lines. Our initial brand for Workhorse was the The Horseboard, and it possessed the most basic features at the lowest price, to appeal to a consumer who was looking for something simple to use. We continued the trend of making two slightly varied products for each market segment in Quarter 6 when we introduced the The Ponyboard to supplement a slightly lower-end product than the The H orseboard. Sales Design Strategy: The sales design strategy of Orange was based primarily on the customer’s (Workhorse, Mercedes and Traveler) needs and wants. This consisted of the top eight preferences in either a laptop or a desktop, and the top six segments of applications. Additionally, each of the target market’s priceprices willing to pay is are shown in (Fig 1. 2). Initially, Orange felt it was most appropriate to choose to target the Mercedes market in Chicago. This allowed for The Motherboard to be produced, which led to 46 percent% domination in only the Mercedes market. Unfortunately overall Orange only had a 12 percent% overall market share, and felt it was necessary to expand into the portable laptop industry of Traveler with The Babyboard 2. 0, and opened a plant in Paris. By Quarter 3, the market size had reached 10,000 customers, which allowed for expansion in the cities of Shanghai and Sao Paulo, and the last target market of Workhorse. The generous r ebates were attractive to the target audience, and allowed for the introduction of The Horseboard, The Superboard, and The Toddlerboard. By Quarter 6, a total of 60 sales people had been employed, and due to the overall low prices of the products, as well as the rebates, Orange gained a 2 percent% market share. Financial Performance: Throughout these first phases of our company, Orange has created a positive financial pattern. While we implemented an aggressive growth strategy and expanded our empire internationally, we kept our costs to a minimum. Naturally, we started Quarter 2 with a deficit due to startup costs. Unlike most companies, our costs were controlled however, and we were only behind by just over $12,000. As advertising has always been a core competency of our company, we spent a total of $109,471 developing and promoting our first batch of advertising. The leasing costs and office spaces were kept to a minimum in the first two quarters as well, since we were only opera ting out of one location. As we moved into the Quarter 3, we expanded internationally and our rental costs increased. However, our sales skyrocketed as well. We had begun to turn a profit, and were in the black by $1,155,328. In Quarter 4, we continued the pattern of financial growth, and maintained an increase in sales. Again, we were fiscally conservative and attempted to keep costs to a minimum (Fig. 1. 3). An important component of Orange’s financial history is the profitability of each brand we sell (Fig 1. 4). Our first line, The Motherboard, dedicated to the top-tier consumer, introduced us to the marketplace. We turned a profit of $922,344 throughout all six quarters. This is a modest percentage of our empire, yet it accounts for the beginnings of our financial gain. Our most profitable brand, The Superboard, generated $6,303,840. We invested a lot of time and capital in the creation of this line, and it paid off. The ToddlerbBoard, HorsebBoard, and PonybBoard were al l profitable as well, with over one million made from each. Financially, only one of our lines performed less well than we had hoped. Our second line, The Babyboard 2. 0 only generated $452,198. Unfortunately, we were unable to sell a high number of these units, and the cost of goods sold was very high in comparison. In the end, each of our brands was able to generate profits. Our conservative fiscal policy allowed enough room for growth without spending more than we could handle. Finally, our revenues continued in a positive direction throughout every quarter, and we are confident the future will play out in the same way (Fig 1. 5). Competition: In the computer market, competition is very fierce. Thus, our company had to constantly position itself to be able to compete with the other companies in the market. To this end, we opened our first sales office in Chicago, hoping that our knowledge of the American marketplace would aid us in capturing a large initial market share. This pla n was successful and put us near the top in overall performance in the computer market. From this point, our company decided that in order to continue our success, we needed to examine the competition to find out what we were doing right, what we were doing wrong, and how we could improve. This plan enabled us to better understand what customers wanted without having to invest heavily into producing prototypes, because we were able to utilize other company’s products and sales numbers as though they were test products. Our first major interaction with our competition came in Quarter 4our fourth Quarter of operation. We introduced our The Babyboard product for the Traveler segment in our third QuarterQuarter 3 of operation. We made the mistake however, of not considering the Traveler segment’s desire for the computer to be fun to use. We discovered this issue by examining our competitor’s products and finding that all competitors that were more successful than us had included games with their product. Despite the increased costs of production and the cost of redesigning our brand, profits for the The Babyboard nearly doubled the next qQuarter (Fig. 1. 6). We also looked to our competition to determine our expansion plans. We realized immediately that with such fierce competition, the first mover advantage would be crucial. Thus, we expanded as quickly as possible by opening sales offices in every possible location. We also handled competition by expanding into every market segment, eventually offering a product for all segments of the market. Our company felt that this strategy would ensure that even if the competition would overtake us in one area, we would be able to survive on the strength of our other products while we figured out how to react. This strategy ultimately served our company well, as we were the top overall performer in the computer market. Conclusion The results of the past six quarters have clearly shown that Orange has m et its primary goals and exceeded expectations, becoming one of the most consistent and profitable companies in the industry. By using a conservative fiscal policy as well as an aggressive and competitive expansionary policy, we have seen Orange grow and become a stable company that is definitely worthy of further investment. To put it into a more detailed perspective, the way we dealt with competition, brand management, sales strategy, and our financials, was what brought us to the top and remains the reason we plan on becoming even more profitable in the near future. By starting in the Mercedes market, we were able to establish ourselves early as a company that promotes high-end, top quality products. This made it extremely easy in the future to expand to the other brands such as Traveler and Workhorse, since we were already best known for our superior products, that we have constantly updated to satisfy the ever changing consumer demands. By using this strategy, we were eventuall y able to generate enough revenue to expand to four different areas of the world, making our brands even better known and reaping most of the first mover advantages. However, this idea alone was not sufficient to achieve the revenues that we experienced over the past few quarters. Additionally, we knew that for our company to be profitable, we needed to get our name out there. This is why our strategy was to hire a large amount of sales people in each country, and invest a large sum of our operating capital in advertisements that would appeal to the wants and needs of specific target markets. Though we have experienced relative success the past six quarters that have propelled us to the top of the industry in overall performance, we are owhere near complacent. With the competition so fierce and the landscape of the technological environment constantly changing, we feel that we are prepared to respond to any competitive and technological pressures that we might have to face in the fu ture. Our company has been the model company in terms of consistency and financial growth and we feel as though our results so far have proven that Orange is a safe investment that will provide lucrative returns in the future. Figure 1. 1 Figure 1. 2 Figure 1. 3 Figure 1. 4 Fig 1. 5 Fig 1. 6 We will write a custom essay sample on Marketing Simulation Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing Simulation Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing Simulation Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer