Financial statement analysis

Most notable products from Apple include the Phone, Pod, Pad, ND Imax personal computers. Apple is also involved in computer and web based application developments, which support their essential products such as Tunes, Safari, and Cloud. Through its innovative, streamlined, user-friendly designs, Apple has achieved a meteoric rise to industry domination since 2002. This growth, however, has recently come to a relative standstill following its peak in 2012 and has investors speculating if this marks the end of Apple's bullish behavior, or just a minor setback because of the company's change of management.Apple Inc. Saw a 9% total increase in revenue this sat year from SSL 56,508 million in 2012 to $170,910 million in 201 3(Apple Inc. , 2013). This growth is in part due to the release of the Phone â€Å"As† and â€Å"c† models, the introduction of the Pad â€Å"Mini† retina display as well as the company's normal day to day sales. This 9% growth may be some cause f or concern though, as prior years increase in revenue saw a 45% average growth from year to year (44% in 2012 and 65% in 2011).Apple's annual release of new products typically yields a 30% overall growth in revenue, which potentially indicates there is stagnation of growth overall in the current racket. This stagnation may be attributed either to heavy saturation of products within the current market, leaving little opportunity for expansive growth, or that consumers are unimpressed with the current product line. Apples peer firm Microsoft (MOST) has seen a modest 5% increase in total revenue from $73,723 million to $77,849 million from 2012 to 213 respectively (Microsoft Corporation, 2013).This increase is consistent with prior 3 years which have each yielded a 4-5% increase in revenue. Compared to Apple, Microsoft has a relatively stable growth and be attributed to the elatedly consistent flow of products from year to year. The â€Å"earnings per share† ratio (PEPS) reflect s the decline in overall profitability as well, with a 10% decline in Apple's PEPS from $44. 43 to $40. 29 in 2012 and 2013 respectively (Apple Inc. , 2013).This can be attributed to two factors: a decrease in net profit margin and a paralleled decrease in gross profit margin. There was an 11% decrease in net profits because of an increase in overall inventory. Increasing inventory will also increase a company s operating expenses as they accommodate new production. Companies typically raise their inventory evils as they release new products in anticipation for projected consumer demand for these products.As is the case with Apple, this will have a negative impact on a company's net profit when there is less than anticipated demand for their new product. The depreciation of older inventories can also be responsible for an overall decrease in profitability. Microsoft has conversely seen an increase in PEPS from $2. 03 per shard to $ 2. 63 per share as a result of an increasing profit margin ratio from 23% to 28% in 201 3(Microsoft Corporation, 2013). Overall this increase can be attributed to an increase in ales over the period as new technologies are release.Overall PEPS increase as a result of Microsoft's lower CEQ duty/investment into their company where as Apple has put much more equity into the release of their new releases in 2013. The increase in cost of sales is reflected in the decline of the gross profit margin ratio which is an additional indicator for a comprehensive decrease in profitability. Apple's total gross profit fell from $44. 00 to $38. 00, in 2012 to 201 3 respectively, which is below the $42. 00 industry average as their cost of sales experienced a 22% increase from 587,846 million to 1 06,606 million dollars.The decrease in gross profit is explained by a number of factors according to Apple: â€Å"introduction of new versions of existing products with higher cost structures and flat or reduced pricing; a shift in sales mix to products w ith lower margins; introduction of pad mini with a gross margin significantly below the Company's average product margins; higher expenses associated with changes to certain Of the Company's service policies and other warranty costs; price reductions on certain products, including pad 2 and phoned; and an unfavorable impact room foreign exchange fluctuations. (Apple Inc. , 2013). An intangible effect that could positively impact Apple's gross profit in the long run is an increase in the number of product consumers as well as a potential increase in consumer loyalty. When compared to Microsoft smaller 2% decrease of gross profit margin from 76% to 74% in 2013. Microsoft decision to decrease sales price of windows 8 and decrease margins for the Oxbow One is responsible for the decrease in gross profit margin much like Apple. Tooth Apple inch's and Microsoft's overall decrease of gross profit margin can be said o increase consumer satisfaction because more advanced technologies are sol d at a lower margin thus giving a customer more value to their purchase. By lowering the price on certain high value items, such as the phone 4 and the pad 2 mentioned in Apple's statement, Apple has made these products more accessible to potential customers with lower incomes or frugal spending habits.Furthermore, if there is an increase in Apple product consumers as a result of the change in price, there will likely be an increase in customer loyalty and satisfaction with these products. The PEPS decline and he increase in cost of sales can further be explored through an analysis of the company's balance sheet. There was a significant increase in Apple's inventory from $791 million to SSL . 76 billion from 2012 to 2013 respectively. This 123% increase in inventory demonstrates a wholesale investment in anticipated consumer demand and loyalty.Apple typically announces product releases long before the actual release date in order to build market â€Å"hype† and also sets rele ase dates to coincide with times of historically greater spending in the market, such as the Christmas holiday season. This â€Å"hyping† recess, however, can go both ways in terms of sales by either positively building up consumer anticipation or by allowing time for consumers to second guess the product before it is released. There is also an inherent risk in inventory expansion based on projected sales; consumers may just not be in the market for new products.An indication that this may be the case is found by looking at the inventory turnover ratio which experienced a decrease from 11 1 times per quarter to significantly lower 83 times per quarter. Microsoft, like Apple, has seen a significant decrease of inventory turnover of 14% from 15. 2 times to 13. 13 times per quarter. This decrease in overall turnover much like, Apple is due to customer anticipation of newer release. However, these changes were significantly different for Microsoft as their offerings have less vol atility, especially in sales of operating systems, and usually see less adoption by consumers in starting stages.Apple acid test ratio, involving current assets over current liabilities, stands at 1. 64 in 2013 which is an increase of approximately 8 points from 2012. This is much higher than the industrial average of 1. 0, indicating Apple is a relatively safe investment and has enough in current assets to cover its debt Obligations. This sets Apple as one of the safer blue chip stocks that can provide consistent wealth for their share holders. Microsoft has experienced a increase acid test ratio from 2012 to 201 3 from 2. 57 to 2. 66 respectively this is significantly higher than Apple Inc. ND can be said to be a safer investment. Microsoft overall keeps their balance of ratios to asset very consistent and insures that they can meet their bottom line as well as provide security for their investors, more so than Apple In the third quarter of 201 3 Apple accrued total of 1 6,960 mil lion dollars in debt. The long term debt was used to offset the repurchase of stock of $22. 9 billion as well as dividend equivalent rights of $10. 6 million dollars. This accrued debt helps Apple Inc avoid taxes of upwards of $9. 2 billion dollars (Burrows, 2013) meanwhile Apple will only incur a $308 million interest a year.Had they used their offshore cash Apple would have had to pay a 35% tax and will save another $1 00 million as these interest payments are tax deductible (Burrows, 2013). Apple's move to take on this debt to finance $55 billion dollars in stock repurchase is an effort to increase overall earnings per share as well as increase total value to the consumer meanwhile adding to overall company value. The statement of cash flows revealed that In 201 2 Apple board of directors authorized a $10 billion stock which was later raised to a total of $60 billion in 2013.Apple repurchased/retired a total of $22,860 million dollars worth of stock in 201 3 as opposed to issuanc e of 665 million in 2012. Apple stated that this repurchase was a move to increase end value to shareholders. Shareholders that are offered buy back will in turn gain profit and will decrease the overall outstanding shares. By decreasing the total shares the company's earnings per share ratio will consequently increase, and given the current plan should increase PEPS by around $4 over the following fiscal year (Hughes, 2013) and adding to the company's overall worth.The overall decrease in outstanding shares also decreases the total amount of dividends paid to investors thus cutting expense and adding to company revenues. Apple began issuing dividends toward the end of 2012 and has since seen a significant raise in dividends issued to its stockholder. Apple has since issued $10,564 million of vividness to shareholders representing a 324% increase dividends paid for 2013 from the $2,488 of dividends paid in 2012. Quarterly dividends were raised by 15% from SO. 65 per share to $3. 05 per share in 2013.The price to earnings ratio also increased from 9% to 13 % as well as the increase in payout ratio from . 29 to. 06 reflects this change value to stockholders as a consequence of stock retirement and increased dividend payout.. A very lucrative opportunity presents itself for current stockholders as the prospective raise of PEPS due to buy back will ultimately add incredible attention value due to increased dividend yield. Microsoft's plan to buy back a total $40 billion plan began in 2008, they began this buy back to increase overall PEPS and PIE as well as increase the companies payout ratio.Buyback has thus far increase PEPS however subsequent drops in PIE ratio from 12. 36 to 10. 24 and stagnant dividend yield make investment into Microsoft a riskier endeavor than Apple as the decrease in P/E does not bode well for buyer confidence. Though the higher dividend yield is still attractive to investors and is higher than that of Apple Inc. Apples market share in sma rt phones should e of particular concern to interested investors as of recent events. Market share, especially for key products, gauges the company's current position amongst its competition and overall pull within the market.It can effectively gauge if the company is meeting the needs of its consumers and prospective growth. Within the past year the Phone only gained around a 13% overall growth in sales, however this is miniscule compared to overall Smartened market growth of 44% in 2013. Apples market share shows further struggles as overall mobile market share decrease by a full 4% from 19% market share n 2012 to a 15% in 2013. (Gardner, 2013) However, other companies like Microsoft and Samsung saw significant increases in SO use and hardware use with Samsung clearing 31% total market share from its 30% in 2012.This may be worrisome as Apple may not providing what customers want and can account for a decrease in overall prospective growth. However, this may be remedied by Apples breakthrough to markets china and Japan late in 2013. The departure of Steve Jobs and the arrival of Tim cook in august of 2011 has been a cause for a weaker overall product line. The recent introduction of ewe products have spawned a lackluster response by consumers especially in the release of the Phone 5 variants (as and c) as well as the improved retina display pad mini.These products neglected to offer anything new or revolutionary to set Apple apart, they were just mere improvements to tested product. The lack of ingenuity has potential to cause a decline Apples growth in sales and may cede market share competitors who have more to offer to the consumer. Microsoft on the other hand has remained consistent in its product offerings throughout the years. This is expected of Microsoft as hey re key product involves enterprise systems that provide basic needs for businesses. Financial Statement Analysis (2004-2008) Course Title: Managing Financial Resources Course: MSc. Finance Date: 11th January 2010. TABLE OF CONTENT Executive Summary This report shows the analysis of the financial performance of Centrica Plc, one of the top energy business providers in UK. Based on my analysis from this report I can conclusively state that: Centrica Plc has an upper hand in the energy and gas market than it s competitor; Scottish Power. Centrica Plc’s turnover was very high in 2008 which shows that it made better sales than its competitor. Although Centrica’s sales turnover was high in 2008 but the profit margin dropped drastically. In the overall financial performance Centrica Plc made a loss of ? 645million in 2008 compared to the previous year 2007 when the company had a retained profit of ? 1088million. This was considered to be an impact of the global financial crises that hit the UK and US economy causing increase in oil prices and a drastic fall again as the level of global oil demand rises and at the same time causing a tight supply position. Centrica Plc’s Total shareholders return has an upper hand when compared with other 99 members of the FTSE 100 in 2008. INTRODUCTION evaluate the impact of financial accounting concepts on corporate reporting of Centrica Plc. evaluate the limitations of ratio analysis discuss the role of management accounting in the evaluation of Centrica’s business performance. I have been motivated to choose Centrica Plc because of the type of product they deal in, which is energy. It is a product that is essential for all, not just households. And it will be good to know if this company is actually doing well in terms of profitability and customer’s satisfaction. LITERATURE REVIEW *PROFITABILITY RATIO ANALYSIS *OF CENTRICA PLC AND SCOTTISH POWER (Reference: FAME (Financial Analysis Made Easy) FINANCIAL RATIO ANALYSIS OF CENTRICA PLC AND SCOTTISH POWER (Reference: FAME (Financial Analysis Made Easy) GRAHPICAL PRESENTATIONS OF RATIOS {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} ANALYSIS AND DISCUSSION FINANCIAL PERFORMANCE ANALYSIS BASED ON THE GRAHPS According to Barry Elliot and Jamie Elliot, ratios show different items in the financial statements. A ratio is not useful in isolation and its usefulness depends on what aspects of the firm’s business affairs are being investigated. Ratios, according to them are a powerful tool in interpreting and understanding a company’s account. Therefore, the graphs above show the performance of the Centrica plc and its competitor; Scottish Power over a period of 5years and will be analyzed below. DEBTORS TURNOVER: This ratio shows how long it takes debtors of a company to pay back credit purchases. In as mush as credit facilities enhances sale turnover in a competitive market, it is very important to take adequate control of it because it is an essential part of working capital management. (Buz/ed, 2009) It is calculated as: Debtors' Turnover*= Average Debtors * ? 365days Centrica Plc has been able to achieve a positive stock turnover ratio over the years with a 55% less time between 2004 and 2008 compared to its competitor that has a longer time of 18% to sell off its products. This shows that Centrica Plc has more sales turnover than Scottish Power. The trend on the graph show that Centrica Plc has been more liquid than Scottish power because the higher the ratio, the more liquid the business is said to be. It is obvious from the graph that Centrica Plc is more liquid than Scottish Power. That is Centrica Plc has a better capacity to pay it short term debt than Scottish Power, with reference to their current ratio of 1. 12 to 0. 59 respectively in 2008. DISCUSSION IMPACT OF FINANCIAL ACCOUNTING CONCEPT UPON CORPORATE REPORTING OF CENTRICA PLC Going Concern: The Board of directors of Centrica Plc continues to adopt the going concern basis in preparing the financial statement because they have a reasonable expectation that the company has adequate resources needed to continue operational existence for the foreseeable future Business Entity: Centrica Plc operates as a separate business entity from its investors. Cost: Centrica Plc reports the market value of its assets. Sincerity: The financial Statement of Centrica Plc is prepared and audited by auditors from the Pricewaterhouse coopers Monetary Unit: The financial statement of Centrica Plc shows a single monetary unit dominated in GBP (? ) because the parent company is in the UK. Dual concept: Centrica presents it total assets as liabilities (debt finance) plus equity (shares). Accrual: The revenue or income of Centrica Plc are recorded when they are actually earned. (Asmii V. 2009) ROLES OF MANAGEMENT ACCOUNTING ON THE BUSI*NESS PERFORMANCE OF CENTRICA PLC According to Institute of Management Accountants, Management accounting can be defined as â€Å"the internal business building role of accounting and finance professionals who work inside the organizations† They are concerned about the growth of the business in terms of evaluating the business prospects, budgeting and forecasting, implementing and monitoring internal controls for the purpose of achieving economic value. The Board of Directors of Centrica Plc believes that there must be high standards of corporate governance which are relevant to the overall integrity and performance of the business. The Company adopted a new set of Articles of Association which states the power of the Board of directors at the 2008 Annual General Meeting and stated below are few of the responsibilities of the Directors with respect to the managerial accounting of the company. the Group’s corporate governance and system of internal control development of strategy and major policies nterim dividend payments and recommendation of final dividends the appointment and removal of Directors and the Company Secretary the Group’s corporate responsibility arrangements including health, safety and environmental matters reviewing management performance approval of the annual operating plan, the financial statements and major acquisitions and disposals The Board gives thorough monitoring to the development of the co mpany’s strategies and also during the year 2008, the Board had a full review of the company’s overall strategy with the assistance of an independent external consultant. The Board also place value on their investors and promote communication program in order to hear their views of their shareholders as regards the key matters affecting the company. The Chief Executive and Group Finance Director held regular meetings with the Company’s major shareholders during the year and the Company’s Rights Issue which was the main topic of discussion was successfully completed during December 2008 after which an approval was given at the Company’s General Meeting held on 21 November 2008. The company’s Executive Committees also established a control infrastructure to ensure proper monitoring and management where major risks have been identified. *THE NON-FINANCIAL PERFORMANCE* OF CENTRICA PLC The fluctuation in demand and prices of oil worldwide as well as the global financial crises in 2008 made Centrica Plc face series of challenges and the Chairman of the company (Roger Carr) tagged the year â€Å"a difficult year†. But despite the difficulty, the company still performed well because it is a company that aims at delivering stability and growth for the benefit of their customers, employees and shareholders. Centrica Plc’s non-financial performance can be outlined in terms of the following: *BUSINESS PERFORMANCE OF CENTRICA* PLC LIMITATIONS OF RATIO ANALYSIS Ratios are useful methods of analyzing the performance and financial position of a business but they have their flaws which are seen as limitations and will be analyzed below. THE IMPACT OF THE CHANGE FROM UK GAAP TO IFRS ON THE CORPORATE REPORTING OF CENTRICA PLC that IFRS has improved the company’s 2004 operating profit and statutory Earnings Per Share (EPS) reduction in shareholder’s fund as a result of pensions deficit Adjustment the company’s policy to link dividend to earnings thereby increasing pay out ratios. Some assets and liabilities will be treated differently which will affect timing of profit. CONCLUSION With reference to the ratios analyzed above, Centrica Plc has an upper hand in the energy and gas market than it s competitor; Scottish Power. Centrica Plc’s turnover was very high in 2008 which shows that they made better sales than its competitor. Although Centrica’s sales turnover was high was high in 2008 but the profit margin dropped drastically. In the overall financial performance Centrica Plc made a loss of ? 645million in 2008 compared to the previous year 2007 when the company had a retained profit of ? 088million. This was considered to be an impact of the global financial crises that hit the UK and US economy causing increase in oil prices and a drastic fall again as the level of global oil demand rises and at the same time causing a tight supply position. Finally, we can say that from the record of 2007, the financial performance in 2008 was good despite the economic instability. Centrica Plc made strong progress against the strategic priorities set out at the end of year 2006. The global financial crises which remain very challenging in the UK till date could pose as a problem for many of the company’s customers. But Centrica Plc promises to continue to place their customers’ needs at the forefront of their agenda, alongside the determination to deliver increasing long-term value for our shareholders FUTURE OF CENTRICA PLC According to the Chief Executive’s Review, some priorities have been set for the future growth of Centrica which would help measure performance in year 2009. Some of which are: To build on the company’s growth platform: Increasing the value of their customer base by expanding the overlap between the energy and services business. Also establishing a centralized service platform and the acquisition and construction of gas and power assets which will enable the company to compete efficiently in the energy market. To reduce risk through integration: There will be more focus on UK in the coming year 2009, due to the high demand. Therefore more production has to be made by integrating/building closer relationship with the National Oil Companies. To transform British Gas: In order for Centrica Plc to succeed, British Gas Residential which seems to be the core backbone of Centrica’s business has to deliver high level of profitability. Therefore, there will have to be an integration of the British Gas Residential, British Gas Business and British Gas Services into a single customer-focused organization. Amidst all these future plans briefly mentioned above, I can now conclusively say that the future performance of Centrica Plc is not 100% certain of profitability as they are not exempted in the effect of the global financial crises which is still hitting the UK economy. Although demand for product might rise causing increase turnover but consumers might not be able to meet up with financial obligations of paying cash. So, Centrica must be prepared for more credit sales which might decrease its debtor turnover. Also, prices of product must be put into consideration despite the goal of maximizing profit not forgetting its competitors. And finally, the leadership of Centrica Plc will be playing major role in delivering stability and growth for the benefit of customers, employees and shareholders. REFERENCES Asmii Vernekar, 2009. Available at: http://www. buzzle. com/articles/basic-accounting –concepts-and –principles. html. Assessed on 15th December, 2009 Buz/ed, 2009. Available at: http://www. bized. co. uk/compfact/ratios/sdc5. htm Assessed on 13th December, 2009. Centrica Plc, 2005. International Financial Reporting Standards. Available at: http://www. centrica. co. uk/files/results/2004_ifrs_transcript. pdf. Assessed on 15th December, 2009 FAME (Financial Analysis Made Easy), 2009. Available at: http://www. fame. bvdep. com/version-20091130. Assessed on 11th December, 2009 Peter Atrill, and Eddie McLaney (2008), Accounting and Finance for Non-Specialists, 6th ed. Prentice Hall, financial times. David Alexander and Christopher Nobes. (2007), Financial Accounting, An International Introduction, 3rd ed. Prentice Hall, financial times. Financial statement analysis Most notable products from Apple include the Phone, Pod, Pad, ND Imax personal computers. Apple is also involved in computer and web based application developments, which support their essential products such as Tunes, Safari, and Cloud. Through its innovative, streamlined, user-friendly designs, Apple has achieved a meteoric rise to industry domination since 2002. This growth, however, has recently come to a relative standstill following its peak in 2012 and has investors speculating if this marks the end of Apple's bullish behavior, or just a minor setback because of the company's change of management.Apple Inc. Saw a 9% total increase in revenue this sat year from SSL 56,508 million in 2012 to $170,910 million in 201 3(Apple Inc. , 2013). This growth is in part due to the release of the Phone â€Å"As† and â€Å"c† models, the introduction of the Pad â€Å"Mini† retina display as well as the company's normal day to day sales. This 9% growth may be some cause f or concern though, as prior years increase in revenue saw a 45% average growth from year to year (44% in 2012 and 65% in 2011).Apple's annual release of new products typically yields a 30% overall growth in revenue, which potentially indicates there is stagnation of growth overall in the current racket. This stagnation may be attributed either to heavy saturation of products within the current market, leaving little opportunity for expansive growth, or that consumers are unimpressed with the current product line. Apples peer firm Microsoft (MOST) has seen a modest 5% increase in total revenue from $73,723 million to $77,849 million from 2012 to 213 respectively (Microsoft Corporation, 2013).This increase is consistent with prior 3 years which have each yielded a 4-5% increase in revenue. Compared to Apple, Microsoft has a relatively stable growth and be attributed to the elatedly consistent flow of products from year to year. The â€Å"earnings per share† ratio (PEPS) reflect s the decline in overall profitability as well, with a 10% decline in Apple's PEPS from $44. 43 to $40. 29 in 2012 and 2013 respectively (Apple Inc. , 2013).This can be attributed to two factors: a decrease in net profit margin and a paralleled decrease in gross profit margin. There was an 11% decrease in net profits because of an increase in overall inventory. Increasing inventory will also increase a company s operating expenses as they accommodate new production. Companies typically raise their inventory evils as they release new products in anticipation for projected consumer demand for these products.As is the case with Apple, this will have a negative impact on a company's net profit when there is less than anticipated demand for their new product. The depreciation of older inventories can also be responsible for an overall decrease in profitability. Microsoft has conversely seen an increase in PEPS from $2. 03 per shard to $ 2. 63 per share as a result of an increasing profit margin ratio from 23% to 28% in 201 3(Microsoft Corporation, 2013). Overall this increase can be attributed to an increase in ales over the period as new technologies are release.Overall PEPS increase as a result of Microsoft's lower CEQ duty/investment into their company where as Apple has put much more equity into the release of their new releases in 2013. The increase in cost of sales is reflected in the decline of the gross profit margin ratio which is an additional indicator for a comprehensive decrease in profitability. Apple's total gross profit fell from $44. 00 to $38. 00, in 2012 to 201 3 respectively, which is below the $42. 00 industry average as their cost of sales experienced a 22% increase from 587,846 million to 1 06,606 million dollars.The decrease in gross profit is explained by a number of factors according to Apple: â€Å"introduction of new versions of existing products with higher cost structures and flat or reduced pricing; a shift in sales mix to products w ith lower margins; introduction of pad mini with a gross margin significantly below the Company's average product margins; higher expenses associated with changes to certain Of the Company's service policies and other warranty costs; price reductions on certain products, including pad 2 and phoned; and an unfavorable impact room foreign exchange fluctuations. (Apple Inc. , 2013). An intangible effect that could positively impact Apple's gross profit in the long run is an increase in the number of product consumers as well as a potential increase in consumer loyalty. When compared to Microsoft smaller 2% decrease of gross profit margin from 76% to 74% in 2013. Microsoft decision to decrease sales price of windows 8 and decrease margins for the Oxbow One is responsible for the decrease in gross profit margin much like Apple. Tooth Apple inch's and Microsoft's overall decrease of gross profit margin can be said o increase consumer satisfaction because more advanced technologies are sol d at a lower margin thus giving a customer more value to their purchase. By lowering the price on certain high value items, such as the phone 4 and the pad 2 mentioned in Apple's statement, Apple has made these products more accessible to potential customers with lower incomes or frugal spending habits.Furthermore, if there is an increase in Apple product consumers as a result of the change in price, there will likely be an increase in customer loyalty and satisfaction with these products. The PEPS decline and he increase in cost of sales can further be explored through an analysis of the company's balance sheet. There was a significant increase in Apple's inventory from $791 million to SSL . 76 billion from 2012 to 2013 respectively. This 123% increase in inventory demonstrates a wholesale investment in anticipated consumer demand and loyalty.Apple typically announces product releases long before the actual release date in order to build market â€Å"hype† and also sets rele ase dates to coincide with times of historically greater spending in the market, such as the Christmas holiday season. This â€Å"hyping† recess, however, can go both ways in terms of sales by either positively building up consumer anticipation or by allowing time for consumers to second guess the product before it is released. There is also an inherent risk in inventory expansion based on projected sales; consumers may just not be in the market for new products.An indication that this may be the case is found by looking at the inventory turnover ratio which experienced a decrease from 11 1 times per quarter to significantly lower 83 times per quarter. Microsoft, like Apple, has seen a significant decrease of inventory turnover of 14% from 15. 2 times to 13. 13 times per quarter. This decrease in overall turnover much like, Apple is due to customer anticipation of newer release. However, these changes were significantly different for Microsoft as their offerings have less vol atility, especially in sales of operating systems, and usually see less adoption by consumers in starting stages.Apple acid test ratio, involving current assets over current liabilities, stands at 1. 64 in 2013 which is an increase of approximately 8 points from 2012. This is much higher than the industrial average of 1. 0, indicating Apple is a relatively safe investment and has enough in current assets to cover its debt Obligations. This sets Apple as one of the safer blue chip stocks that can provide consistent wealth for their share holders. Microsoft has experienced a increase acid test ratio from 2012 to 201 3 from 2. 57 to 2. 66 respectively this is significantly higher than Apple Inc. ND can be said to be a safer investment. Microsoft overall keeps their balance of ratios to asset very consistent and insures that they can meet their bottom line as well as provide security for their investors, more so than Apple In the third quarter of 201 3 Apple accrued total of 1 6,960 mil lion dollars in debt. The long term debt was used to offset the repurchase of stock of $22. 9 billion as well as dividend equivalent rights of $10. 6 million dollars. This accrued debt helps Apple Inc avoid taxes of upwards of $9. 2 billion dollars (Burrows, 2013) meanwhile Apple will only incur a $308 million interest a year.Had they used their offshore cash Apple would have had to pay a 35% tax and will save another $1 00 million as these interest payments are tax deductible (Burrows, 2013). Apple's move to take on this debt to finance $55 billion dollars in stock repurchase is an effort to increase overall earnings per share as well as increase total value to the consumer meanwhile adding to overall company value. The statement of cash flows revealed that In 201 2 Apple board of directors authorized a $10 billion stock which was later raised to a total of $60 billion in 2013.Apple repurchased/retired a total of $22,860 million dollars worth of stock in 201 3 as opposed to issuanc e of 665 million in 2012. Apple stated that this repurchase was a move to increase end value to shareholders. Shareholders that are offered buy back will in turn gain profit and will decrease the overall outstanding shares. By decreasing the total shares the company's earnings per share ratio will consequently increase, and given the current plan should increase PEPS by around $4 over the following fiscal year (Hughes, 2013) and adding to the company's overall worth.The overall decrease in outstanding shares also decreases the total amount of dividends paid to investors thus cutting expense and adding to company revenues. Apple began issuing dividends toward the end of 2012 and has since seen a significant raise in dividends issued to its stockholder. Apple has since issued $10,564 million of vividness to shareholders representing a 324% increase dividends paid for 2013 from the $2,488 of dividends paid in 2012. Quarterly dividends were raised by 15% from SO. 65 per share to $3. 05 per share in 2013.The price to earnings ratio also increased from 9% to 13 % as well as the increase in payout ratio from . 29 to. 06 reflects this change value to stockholders as a consequence of stock retirement and increased dividend payout.. A very lucrative opportunity presents itself for current stockholders as the prospective raise of PEPS due to buy back will ultimately add incredible attention value due to increased dividend yield. Microsoft's plan to buy back a total $40 billion plan began in 2008, they began this buy back to increase overall PEPS and PIE as well as increase the companies payout ratio.Buyback has thus far increase PEPS however subsequent drops in PIE ratio from 12. 36 to 10. 24 and stagnant dividend yield make investment into Microsoft a riskier endeavor than Apple as the decrease in P/E does not bode well for buyer confidence. Though the higher dividend yield is still attractive to investors and is higher than that of Apple Inc. Apples market share in sma rt phones should e of particular concern to interested investors as of recent events. Market share, especially for key products, gauges the company's current position amongst its competition and overall pull within the market.It can effectively gauge if the company is meeting the needs of its consumers and prospective growth. Within the past year the Phone only gained around a 13% overall growth in sales, however this is miniscule compared to overall Smartened market growth of 44% in 2013. Apples market share shows further struggles as overall mobile market share decrease by a full 4% from 19% market share n 2012 to a 15% in 2013. (Gardner, 2013) However, other companies like Microsoft and Samsung saw significant increases in SO use and hardware use with Samsung clearing 31% total market share from its 30% in 2012.This may be worrisome as Apple may not providing what customers want and can account for a decrease in overall prospective growth. However, this may be remedied by Apples breakthrough to markets china and Japan late in 2013. The departure of Steve Jobs and the arrival of Tim cook in august of 2011 has been a cause for a weaker overall product line. The recent introduction of ewe products have spawned a lackluster response by consumers especially in the release of the Phone 5 variants (as and c) as well as the improved retina display pad mini.These products neglected to offer anything new or revolutionary to set Apple apart, they were just mere improvements to tested product. The lack of ingenuity has potential to cause a decline Apples growth in sales and may cede market share competitors who have more to offer to the consumer. Microsoft on the other hand has remained consistent in its product offerings throughout the years. This is expected of Microsoft as hey re key product involves enterprise systems that provide basic needs for businesses. Financial Statement Analysis (2004-2008) Course Title: Managing Financial Resources Course: MSc. Finance Date: 11th January 2010. TABLE OF CONTENT Executive Summary This report shows the analysis of the financial performance of Centrica Plc, one of the top energy business providers in UK. Based on my analysis from this report I can conclusively state that: Centrica Plc has an upper hand in the energy and gas market than it s competitor; Scottish Power. Centrica Plc’s turnover was very high in 2008 which shows that it made better sales than its competitor. Although Centrica’s sales turnover was high in 2008 but the profit margin dropped drastically. In the overall financial performance Centrica Plc made a loss of ? 645million in 2008 compared to the previous year 2007 when the company had a retained profit of ? 1088million. This was considered to be an impact of the global financial crises that hit the UK and US economy causing increase in oil prices and a drastic fall again as the level of global oil demand rises and at the same time causing a tight supply position. Centrica Plc’s Total shareholders return has an upper hand when compared with other 99 members of the FTSE 100 in 2008. INTRODUCTION evaluate the impact of financial accounting concepts on corporate reporting of Centrica Plc. evaluate the limitations of ratio analysis discuss the role of management accounting in the evaluation of Centrica’s business performance. I have been motivated to choose Centrica Plc because of the type of product they deal in, which is energy. It is a product that is essential for all, not just households. And it will be good to know if this company is actually doing well in terms of profitability and customer’s satisfaction. LITERATURE REVIEW *PROFITABILITY RATIO ANALYSIS *OF CENTRICA PLC AND SCOTTISH POWER (Reference: FAME (Financial Analysis Made Easy) FINANCIAL RATIO ANALYSIS OF CENTRICA PLC AND SCOTTISH POWER (Reference: FAME (Financial Analysis Made Easy) GRAHPICAL PRESENTATIONS OF RATIOS {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} ANALYSIS AND DISCUSSION FINANCIAL PERFORMANCE ANALYSIS BASED ON THE GRAHPS According to Barry Elliot and Jamie Elliot, ratios show different items in the financial statements. A ratio is not useful in isolation and its usefulness depends on what aspects of the firm’s business affairs are being investigated. Ratios, according to them are a powerful tool in interpreting and understanding a company’s account. Therefore, the graphs above show the performance of the Centrica plc and its competitor; Scottish Power over a period of 5years and will be analyzed below. DEBTORS TURNOVER: This ratio shows how long it takes debtors of a company to pay back credit purchases. In as mush as credit facilities enhances sale turnover in a competitive market, it is very important to take adequate control of it because it is an essential part of working capital management. (Buz/ed, 2009) It is calculated as: Debtors' Turnover*= Average Debtors * ? 365days Centrica Plc has been able to achieve a positive stock turnover ratio over the years with a 55% less time between 2004 and 2008 compared to its competitor that has a longer time of 18% to sell off its products. This shows that Centrica Plc has more sales turnover than Scottish Power. The trend on the graph show that Centrica Plc has been more liquid than Scottish power because the higher the ratio, the more liquid the business is said to be. It is obvious from the graph that Centrica Plc is more liquid than Scottish Power. That is Centrica Plc has a better capacity to pay it short term debt than Scottish Power, with reference to their current ratio of 1. 12 to 0. 59 respectively in 2008. DISCUSSION IMPACT OF FINANCIAL ACCOUNTING CONCEPT UPON CORPORATE REPORTING OF CENTRICA PLC Going Concern: The Board of directors of Centrica Plc continues to adopt the going concern basis in preparing the financial statement because they have a reasonable expectation that the company has adequate resources needed to continue operational existence for the foreseeable future Business Entity: Centrica Plc operates as a separate business entity from its investors. Cost: Centrica Plc reports the market value of its assets. Sincerity: The financial Statement of Centrica Plc is prepared and audited by auditors from the Pricewaterhouse coopers Monetary Unit: The financial statement of Centrica Plc shows a single monetary unit dominated in GBP (? ) because the parent company is in the UK. Dual concept: Centrica presents it total assets as liabilities (debt finance) plus equity (shares). Accrual: The revenue or income of Centrica Plc are recorded when they are actually earned. (Asmii V. 2009) ROLES OF MANAGEMENT ACCOUNTING ON THE BUSI*NESS PERFORMANCE OF CENTRICA PLC According to Institute of Management Accountants, Management accounting can be defined as â€Å"the internal business building role of accounting and finance professionals who work inside the organizations† They are concerned about the growth of the business in terms of evaluating the business prospects, budgeting and forecasting, implementing and monitoring internal controls for the purpose of achieving economic value. The Board of Directors of Centrica Plc believes that there must be high standards of corporate governance which are relevant to the overall integrity and performance of the business. The Company adopted a new set of Articles of Association which states the power of the Board of directors at the 2008 Annual General Meeting and stated below are few of the responsibilities of the Directors with respect to the managerial accounting of the company. the Group’s corporate governance and system of internal control development of strategy and major policies nterim dividend payments and recommendation of final dividends the appointment and removal of Directors and the Company Secretary the Group’s corporate responsibility arrangements including health, safety and environmental matters reviewing management performance approval of the annual operating plan, the financial statements and major acquisitions and disposals The Board gives thorough monitoring to the development of the co mpany’s strategies and also during the year 2008, the Board had a full review of the company’s overall strategy with the assistance of an independent external consultant. The Board also place value on their investors and promote communication program in order to hear their views of their shareholders as regards the key matters affecting the company. The Chief Executive and Group Finance Director held regular meetings with the Company’s major shareholders during the year and the Company’s Rights Issue which was the main topic of discussion was successfully completed during December 2008 after which an approval was given at the Company’s General Meeting held on 21 November 2008. The company’s Executive Committees also established a control infrastructure to ensure proper monitoring and management where major risks have been identified. *THE NON-FINANCIAL PERFORMANCE* OF CENTRICA PLC The fluctuation in demand and prices of oil worldwide as well as the global financial crises in 2008 made Centrica Plc face series of challenges and the Chairman of the company (Roger Carr) tagged the year â€Å"a difficult year†. But despite the difficulty, the company still performed well because it is a company that aims at delivering stability and growth for the benefit of their customers, employees and shareholders. Centrica Plc’s non-financial performance can be outlined in terms of the following: *BUSINESS PERFORMANCE OF CENTRICA* PLC LIMITATIONS OF RATIO ANALYSIS Ratios are useful methods of analyzing the performance and financial position of a business but they have their flaws which are seen as limitations and will be analyzed below. THE IMPACT OF THE CHANGE FROM UK GAAP TO IFRS ON THE CORPORATE REPORTING OF CENTRICA PLC that IFRS has improved the company’s 2004 operating profit and statutory Earnings Per Share (EPS) reduction in shareholder’s fund as a result of pensions deficit Adjustment the company’s policy to link dividend to earnings thereby increasing pay out ratios. Some assets and liabilities will be treated differently which will affect timing of profit. CONCLUSION With reference to the ratios analyzed above, Centrica Plc has an upper hand in the energy and gas market than it s competitor; Scottish Power. Centrica Plc’s turnover was very high in 2008 which shows that they made better sales than its competitor. Although Centrica’s sales turnover was high was high in 2008 but the profit margin dropped drastically. In the overall financial performance Centrica Plc made a loss of ? 645million in 2008 compared to the previous year 2007 when the company had a retained profit of ? 088million. This was considered to be an impact of the global financial crises that hit the UK and US economy causing increase in oil prices and a drastic fall again as the level of global oil demand rises and at the same time causing a tight supply position. Finally, we can say that from the record of 2007, the financial performance in 2008 was good despite the economic instability. Centrica Plc made strong progress against the strategic priorities set out at the end of year 2006. The global financial crises which remain very challenging in the UK till date could pose as a problem for many of the company’s customers. But Centrica Plc promises to continue to place their customers’ needs at the forefront of their agenda, alongside the determination to deliver increasing long-term value for our shareholders FUTURE OF CENTRICA PLC According to the Chief Executive’s Review, some priorities have been set for the future growth of Centrica which would help measure performance in year 2009. Some of which are: To build on the company’s growth platform: Increasing the value of their customer base by expanding the overlap between the energy and services business. Also establishing a centralized service platform and the acquisition and construction of gas and power assets which will enable the company to compete efficiently in the energy market. To reduce risk through integration: There will be more focus on UK in the coming year 2009, due to the high demand. Therefore more production has to be made by integrating/building closer relationship with the National Oil Companies. To transform British Gas: In order for Centrica Plc to succeed, British Gas Residential which seems to be the core backbone of Centrica’s business has to deliver high level of profitability. Therefore, there will have to be an integration of the British Gas Residential, British Gas Business and British Gas Services into a single customer-focused organization. Amidst all these future plans briefly mentioned above, I can now conclusively say that the future performance of Centrica Plc is not 100% certain of profitability as they are not exempted in the effect of the global financial crises which is still hitting the UK economy. Although demand for product might rise causing increase turnover but consumers might not be able to meet up with financial obligations of paying cash. So, Centrica must be prepared for more credit sales which might decrease its debtor turnover. Also, prices of product must be put into consideration despite the goal of maximizing profit not forgetting its competitors. And finally, the leadership of Centrica Plc will be playing major role in delivering stability and growth for the benefit of customers, employees and shareholders. REFERENCES Asmii Vernekar, 2009. Available at: http://www. buzzle. com/articles/basic-accounting –concepts-and –principles. html. Assessed on 15th December, 2009 Buz/ed, 2009. Available at: http://www. bized. co. uk/compfact/ratios/sdc5. htm Assessed on 13th December, 2009. Centrica Plc, 2005. International Financial Reporting Standards. Available at: http://www. centrica. co. uk/files/results/2004_ifrs_transcript. pdf. Assessed on 15th December, 2009 FAME (Financial Analysis Made Easy), 2009. Available at: http://www. fame. bvdep. com/version-20091130. Assessed on 11th December, 2009 Peter Atrill, and Eddie McLaney (2008), Accounting and Finance for Non-Specialists, 6th ed. Prentice Hall, financial times. David Alexander and Christopher Nobes. (2007), Financial Accounting, An International Introduction, 3rd ed. Prentice Hall, financial times.

Child Labour Should Be Banned Essay

For many of us it is hard to imagine what it would be like growing up, having to work from the age of five and not being able to go to school. ‘Child Labour’ is defined by the United States Department of Labour (DOL) as ‘the employment of boys and girls when they are too young to work for hire; or when they are employed at jobs unsuitable or unsafe for children of their ages’ It is not something we are too familiar with ourselves, living in a wealthy country, but the fact is that there are many Third World countries out there where the economy and living conditions are so bad that children have to work in unsuitable and unsafe situations. There are certain charities that help, but that it is. Not enough is being done to stop child labour. It is very wrong and should be banned thought out the world and looked at as a disgrace. Figures from the International Labour Organisation (ILO) show that 218 million children aged between five and seventeen are involved in child labour worldwide. That means globally one in six children work. This is an extremely large number. Around 150 million of the 218 million are involved in what is know as ‘worst forms’ of child labour, which include work such as forced labour, slavery and sexual exploitation. Many are forced to work without access to the toilet or drinking facilities – this is against human rights. Child labour of course is different through out the world. Financial it may be necessary for a family to send their children to work to then be able to get food. Sometimes it can even be a situation of life and death if a child in a family does not work. Other times it may be in the families’ ethic work where the children have to help. Either way, it is not good enough. Children should not have to work.

Chapter 29 The Dream

It comes down to this,† said Hermione, rubbing her forehead. â€Å"Either Mr. Crouch attacked Viktor, or somebody else attacked both of them when Viktor wasn't looking.† â€Å"It must've been Crouch,† said Ron at once. â€Å"That's why he was gone when Harry and Dumbledore got there. He'd done a runner.† â€Å"I don't think so,† said Harry, shaking his head. â€Å"He seemed really weak – I don't reckon he was up to Disapparating or anything.† â€Å"You can't Disapparate on the Hogwarts grounds, haven't I told you enough times?† said Hermione. â€Å"Okay†¦hows this for a theory,† said Ron excitedly. â€Å"Krum attacked Crouch – no, wait for it – and then Stunned himself!† â€Å"And Mr. Crouch evaporated, did he?† said Hermione coldly. â€Å"Oh yeah†¦Ã¢â‚¬  It was daybreak. Harry, Ron, and Hermione had crept out of their dormitories very early and hurried up to the Owlery together to send a note to Sirius. Now they were standing looking out at the misty grounds. All three of them were puffy-eyed and pale because they had been talking late into the night about Mr. Crouch. â€Å"Just go through it again, Harry,† said Hermione. â€Å"What did Mr. Crouch actually say?† â€Å"I've told you, he wasn't making much sense,† said Harry. â€Å"He said he wanted to warn Dumbledore about something. He definitely mentioned Bertha Jorkins, and he seemed to think she was dead. He kept saying stuff was his fault†¦.He mentioned his son.† â€Å"Well, that was his fault,† said Hermione testily. â€Å"He was out of his mind,† said Harry. â€Å"Half the time he seemed to think his wife and son were still alive, and he kept talking to Percy about work and giving him instructions.† â€Å"And†¦remind me what he said about You-Know-Who?† said Ron tentatively. â€Å"I've told you,† Harry repeated dully. â€Å"He said he's getting stronger.† There was a pause. Then Ron said in a falsely confident voice, â€Å"But he was out of his mind, like you said, so half of it was probably just raving†¦.† â€Å"He was sanest when he was trying to talk about Voldemort,† said Harry, and Ron winced at the sound of the name. â€Å"He was having real trouble stringing two words together, but that was when he seemed to know where he was, and know what he wanted to do. He just kept saying he had to see Dumbledore.† Harry turned away from the window and stared up into the rafters. The many perches were half-empty; every now and then, another owl would swoop in through one of the windows, returning from its night's hunting with a mouse in its beak. â€Å"If Snape hadn't held me up,† Harry said bitterly, â€Å"we might've got there in time. ‘The headmaster is busy. Potter†¦what's this rubbish, Potter?' Why couldn't he have just got out of the way?† â€Å"Maybe he didn't want you to get there!† said Ron quickly. â€Å"Maybe – hang on – how fast d'you reckon he could've gotten down to the forest? D'you reckon he could've beaten you and Dumbledore there?† â€Å"Not unless he can turn himself into a bat or something,† said Harry. â€Å"Wouldn't put it past him,† Ron muttered. â€Å"We need to see Professor Moody,† said Hermione. â€Å"We need to find out whether he found Mr. Crouch.† â€Å"If he had the Marauder's Map on him, it would've been easy,† said Harry. â€Å"Unless Crouch was already outside the grounds,† said Ron, â€Å"because it only shows up to the boundaries, doesn't -â€Å" â€Å"Shh!† said Hermione suddenly. Somebody was climbing the steps up to the Owlery. Harry could hear two voices arguing, coming closer and closer. â€Å"- that's blackmail, that is, we could get into a lot of trouble for that-â€Å" â€Å"- we've tried being polite; it's time to play dirty, like him. He wouldn't like the Ministry of Magic knowing what he did -â€Å" â€Å"I'm telling you, if you put that in writing, it's blackmail!† â€Å"Yeah, and you won't be complaining if we get a nice fat payoff, will you?† The Owlery door banged open. Fred and George came over the threshold, then froze at the sight of Harry, Ron, and Hermione. â€Å"What're you doing here?† Ron and Fred said at the same time. â€Å"Sending a letter,† said Harry and George in unison. â€Å"What, at this time?† said Hermione and Fred. Fred grinned. â€Å"Fine – we won't ask you what you're doing, if you don't ask us,† he said. He was holding a sealed envelope in his hands. Harry glanced at it, but Fred, whether accidentally or on purpose, shifted his hand so that the name on it was covered. â€Å"Well, don't let us hold you up,† Fred said, making a mock bow and pointing at the door. Ron didn't move. â€Å"Who're you blackmailing?† he said. The grin vanished from Fred's face. Harry saw George half glance at Fred, before smiling at Ron. â€Å"Don't be stupid, I was only joking,† he said easily. â€Å"Didn't sound like that,† said Ron. Fred and George looked at each other. Then Fred said abruptly, â€Å"I've told you before, Ron, keep your nose out if you like it the shape it is. Can't see why you would, but -â€Å" â€Å"It's my business if you're blackmailing someone,† said Ron. â€Å"George's right, you could end up in serious trouble for that.† â€Å"Told you, I was joking,† said George. He walked over to Fred, pulled the letter out of his hands, and began attaching it to the leg of the nearest barn owl. â€Å"You're starting to sound a bit like our dear older brother, you are, Ron. Carry on like this and you'll be made a prefect.† â€Å"No, I won't!† said Ron hotly. George carried the barn owl over to the window and it took off. George turned around and grinned at Ron. â€Å"Well, stop telling people what to do then. See you later.† He and Fred left the Owlery. Harry, Ron, and Hermione stared at one another. â€Å"You don't think they know something about all this, do you?† Hermione whispered. â€Å"About Crouch and everything?† â€Å"No,† said Harry. â€Å"If it was something that serious, they'd tell someone. They'd tell Dumbledore.† Ron, however, was looking uncomfortable. â€Å"What's the matter?† Hermione asked him. â€Å"Well†¦Ã¢â‚¬  said Ron slowly, â€Å"I dunno if they would. They're†¦they're obsessed with making money lately, I noticed it when I was hanging around with them – when – you know -â€Å" â€Å"We weren't talking.† Harry finished the sentence for him. â€Å"Yeah, but blackmail†¦Ã¢â‚¬  â€Å"It's this joke shop idea they've got,† said Ron. â€Å"I thought they were only saying it to annoy Mum, but they really mean it, they want to start one. They've only got a year left at Hogwarts, they keep going on about how it's time to think about their future, and Dad can't help them, and they need gold to get started.† Hermione was looking uncomfortable now. â€Å"Yes, but†¦they wouldn't do anything against the law to get gold.† â€Å"Wouldn't they?† said Ron, looking skeptical. â€Å"I dunno†¦they don't exactly mind breaking rules, do they?† â€Å"Yes, but this is the law,† said Hermione, looking scared. â€Å"This isn't some silly school rule†¦.They'll get a lot more than detention for blackmail! Ron†¦maybe you'd better tell Percy†¦.† â€Å"Are you mad?† said Ron. â€Å"Tell Percy? He'd probably do a Crouch and turn them in.† He stared at the window through which Fred and George's owl had departed, then said, â€Å"Come on, let's get some breakfast.† â€Å"D'you think it's too early to go and see Professor Moody?† Hermione said as they went down the spiral staircase. â€Å"Yes,† said Harry. â€Å"He'd probably blast us through the door if we wake him at the crack of dawn; he'll think we're trying to attack him while he's asleep. Let's give it till break.† History of Magic had rarely gone so slowly. Harry kept checking Ron's watch, having finally discarded his own, but Ron's was moving so slowly he could have sworn it had stopped working too. All three of them were so tired they could happily have put their heads down on the desks and slept; even Hermione wasn't taking her usual notes, but was sitting with her head on her hand, gazing at Professor Binns with her eyes out of focus. When the bell finally rang, they hurried out into the corridors toward the Dark Arts classroom and found Professor Moody leaving it. He looked as tired as they felt. The eyelid of his normal eye was drooping, giving his face an even more lopsided appearance than usual. â€Å"Professor Moody?† Harry called as they made their way toward him through the crowd. â€Å"Hello, Potter,† growled Moody. His magical eye followed a couple of passing first years, who sped up, looking nervous; it rolled into the back of Moody's head and watched them around the corner before he spoke again. â€Å"Come in here.† He stood back to let them into his empty classroom, limped in after them, and closed the door. â€Å"Did you find him?† Harry asked without preamble. â€Å"Mr. Crouch?† â€Å"No,† said Moody. He moved over to his desk, sat down, stretched out his wooden leg with a slight groan, and pulled out his hip flask. â€Å"Did you use the map?† Harry said. â€Å"Of course,† said Moody, taking a swig from his flask. â€Å"Took a leaf out of your book, Potter. Summoned it from my office into the forest. He wasn't anywhere on there.† â€Å"So he did Disapparate?† said Ron. â€Å"You can't Disapparate on the grounds, Ron!† said Hermione. â€Å"There are other ways he could have disappeared, aren't there, Professor?† Moody's magical eye quivered as it rested on Hermione. â€Å"You're another one who might think about a career as an Auror,† he told her. â€Å"Mind works the right way. Granger.† Hermione flushed pink with pleasure. â€Å"Well, he wasn't invisible,† said Harry. â€Å"The map shows invisible people. He must've left the grounds, then.† â€Å"But under his own steam?† said Hermione eagerly, â€Å"or because someone made him?† â€Å"Yeah, someone could've – could've pulled him onto a broom and flown off with him, couldn't they?† said Ron quickly, looking hopefully at Moody as if he too wanted to be told he had the makings of an Auror. â€Å"We can't rule out kidnap,† growled Moody. â€Å"So,† said Ron, â€Å"d'you reckon he's somewhere in Hogsmeade?† â€Å"Could be anywhere,† said Moody, shaking his head. â€Å"Only thing we know for sure is that he's not here.† He yawned widely, so that his scars stretched, and his lopsided mouth revealed a number of missing teeth. Then he said, â€Å"Now, Dumbledore's told me you three fancy yourselves as investigators, but there's nothing you can do for Crouch. The Ministry'll be looking for him now, Dumbledore's notified them. Potter, you just keep your mind on the third task.† â€Å"What?† said Harry. â€Å"Oh yeah†¦Ã¢â‚¬  He hadn't given the maze a single thought since he'd left it with Krum the previous night. â€Å"Should be right up your street, this one,† said Moody, looking up at Harry and scratching his scarred and stubbly chin. â€Å"From what Dumbledore's said, you've managed to get through stuff like this plenty of times. Broke your way through a series of obstacles guarding the Sorcerers Stone in your first year, didn't you?† â€Å"We helped,† Ron said quickly. â€Å"Me and Hermione helped.† Moody grinned. â€Å"Well, help him practice for this one, and I'll be very surprised if he doesn't win,† said Moody. â€Å"In the meantime†¦constant vigilance, Potter. Constant vigilance.† He took another long draw from his hip flask, and his magical eye swiveled onto the window. The topmost sail of the Durmstrang ship was visible through it. â€Å"You two,† counseled Moody, his normal eye on Ron and Hermione, â€Å"you stick close to Potter, all right? I'm keeping an eye on things, but all the same†¦you can never have too many eyes out.† Sirius sent their owl back the very next morning. It fluttered down beside Harry at the same moment that a tawny owl landed in front of Hermione, clutching a copy of the Daily Prophet in its beak. She took the newspaper, scanned the first few pages, said, â€Å"Ha! She hasn't got wind of Crouch!† then joined Ron and Harry in reading what Sirius had to say on the mysterious events of the night before last. Harry – what do you think you are playing at, walking off into the forest with Viktor Krum? I want you to swear, by return owl, that you are not going to go walking with anyone else at night. There is somebody highly dangerous at Hogwarts. It is clear to me that they wanted to stop Crouch from seeing Dumbledore and you were probably feet away from them in the dark. You could have been killed. Your name didn't get into the Goblet of Fire by accident. If someone's trying to attack you, they're on their last chance. Stay close to Ron and Hermione, do not leave Gryffindor Tower after hours, and arm yourself for the third task. Practice Stunning and Disarming. A few hexes wouldn't go amiss either. There's nothing you can do about Crouch. Keep your head down and look after yourself. I'm waiting for your letter giving me your word you won't stray out-of-bounds again. Sirius â€Å"Who's he, to lecture me about being out-of-bounds?† said Harry in mild indignation as he folded up Sirius's letter and put it inside his robes. â€Å"After all the stuff he did at school!† â€Å"He's worried about you!† said Hermione sharply. â€Å"Just like Moody and Hagrid! So listen to them!† â€Å"No one's tried to attack me all year,† said Harry. â€Å"No one's done anything to me at all-â€Å" â€Å"Except put your name in the Goblet of Fire,† said Hermione. â€Å"And they must've done that for a reason. Harry. Snuffles is right. Maybe they've been biding their time. Maybe this is the task they're going to get you.† â€Å"Look,† said Harry impatiently, â€Å"let's say Sirius is right, and someone Stunned Krum to kidnap Crouch. Well, they would've been in the trees near us, wouldn't they? But they waited till I was out of the way until they acted, didn't they? So it doesn't look like I'm their target, does it?† â€Å"They couldn't have made it look like an accident if they'd murdered you in the forest!† said Hermione. â€Å"But if you die during a task-â€Å" â€Å"They didn't care about attacking Krum, did they?† said Harry. â€Å"Why didn't they just polish me off at the same time? They could've made it look like Krum and I had a duel or something.† â€Å"Harry, I don't understand it either,† said Hermione desperately. â€Å"I just know there are a lot of odd things going on, and I don't like it†¦.Moody's right – Sirius is right – you've got to get in training for the third task, straight away. And you make sure you write back to Sirius and promise him you're not going to go sneaking off alone again.† The Hogwarts grounds never looked more inviting than when Harry had to stay indoors. For the next few days he spent all of his free time either in the library with Hermione and Ron, looking up hexes, or else in empty classrooms, which they sneaked into to practice. Harry was concentrating on the Stunning Spell, which he had never used before. The trouble was that practicing it involved certain sacrifices on Ron's and Hermione's part. â€Å"Can't we kidnap Mrs. Norris?† Ron suggested on Monday lunchtime as he lay flat on his back in the middle of their Charms classroom, having just been Stunned and reawoken by Harry for the fifth time in a row. â€Å"Let's Stun her for a bit. Or you could use Dobby, Harry, I bet he'd do anything to help you. I'm not complaining or anything† – he got gingerly to his feet, rubbing his backside – â€Å"but I'm aching all over†¦.† â€Å"Well, you keep missing the cushions, don't you!† said Hermione impatiently, rearranging the pile of cushions they had used for the Banishing Spell, which Flitwick had left in a cabinet. â€Å"Just try and fall backward!† â€Å"Once you're Stunned, you can't aim too well, Hermione! â€Å"said Ron angrily. â€Å"Why don't you take a turn?† â€Å"Well, I think Harry's got it now, anyway,† said Hermione hastily. â€Å"And we don't have to worry about Disarming, because he's been able to do that for ages†¦.I think we ought to start on some of these hexes this evening.† She looked down the list they had made in the library. â€Å"I like the look of this one,† she said, â€Å"this Impediment Curse. Should slow down anything that's trying to attack you. Harry. We'll start with that one.† The bell rang. They hastily shoved the cushions back into Flitwick's cupboard and slipped out of the classroom. â€Å"See you at dinner!† said Hermione, and she set off for Arithmancy, while Harry and Ron headed toward North Tower, and Divination. Broad strips of dazzling gold sunlight tell across the corridor from the high windows. The sky outside was so brightly blue it looked as though it had been enameled. â€Å"It's going to be boiling in Trelawney's room, she never puts out that fire,† said Ron as they started up the staircase toward the silver ladder and the trapdoor. He was quite right. The dimly lit room was swelteringly hot. The fumes from the perfumed fire were heavier than ever. Harry's head swam as he made his way over to one of the curtained windows. While Professor Trelawney was looking the other way, disentangling her shawl from a lamp, he opened it an inch or so and settled back in his chintz armchair, so that a soft breeze played across his face. It was extremely comfortable. â€Å"My dears,† said Professor Trelawney, sitting down in her winged armchair in front of the class and peering around at them all with her strangely enlarged eyes, â€Å"we have almost finished our work on planetary divination. Today, however, will be an excellent opportunity to examine the effects of Mars, for he is placed most interestingly at the present time. If you will all look this way, I will dim the lights†¦.† She waved her wand and the lamps went out. The fire was the only source of light now. Professor Trelawney bent down and lifted, from under her chair, a miniature model of the solar system, contained within a glass dome. It was a beautiful thing; each of the moons glimmered in place around the nine planets and the fiery sun, all of them hanging in thin air beneath the glass. Harry watched lazily as Professor Trelawney began to point out the fascinating angle Mars was making to Neptune. The heavily perfumed fumes washed over him, and the breeze from the window played across his face. He could hear an insect humming gently somewhere behind the curtain. His eyelids began to droop†¦. He was riding on the back of an eagle owl, soaring through the clear blue sky toward an old, ivy-covered house set high on a hillside. Lower and lower they flew, the wind blowing pleasantly in Harry's face, until they reached a dark and broken window in the upper story of the house and entered. Now they were flying along a gloomy passageway, to a room at the very end†¦through the door they went, into a dark room whose windows were boarded up†¦. Harry had left the owl's back†¦he was watching, now, as it fluttered across the room, into a chair with its back to him†¦.There were two dark shapes on the floor beside the chair†¦both of them were stirring†¦. One was a huge snake†¦the other was a man†¦a short, balding man, a man with watery eyes and a pointed nose†¦he was wheezing and sobbing on the hearth rug†¦. â€Å"You are in luck, Wormtail,† said a cold, high-pitched voice from the depths of the chair in which the owl had landed. â€Å"You are very fortunate indeed. Your blunder has not ruined everything. He is dead.† â€Å"My Lord!† gasped the man on the floor. â€Å"My Lord, I am†¦I am so pleased†¦and so sorry†¦.† â€Å"Nagini,† said the cold voice, â€Å"you are out of luck. I will not be feeding Wormtail to you, after all†¦but never mind, never mind†¦there is still Harry Potter†¦.† The snake hissed. Harry could see its tongue fluttering. â€Å"Now, Wormtail,† said the cold voice, â€Å"perhaps one more little reminder why I will not tolerate another blunder from you†¦.† â€Å"My Lord†¦no†¦I beg you†¦Ã¢â‚¬  The tip of a wand emerged from around the back of the chair. It was pointing at Wormtail. â€Å"Crucio!† said the cold voice. Wormtail screamed, screamed as though every nerve in his body were on fire, the screaming filled Harry's ears as the scar on his forehead seared with pain; he was yelling too†¦Voldemort would hear him, would know he was there†¦. â€Å"Harry! Harry!† Harry opened his eyes. He was lying on the floor of Professor Trelawney's room with his hands over his face. His scar was still burning so badly that his eyes were watering. The pain had been real. The whole class was standing around him, and Ron was kneeling next to him, looking terrified. â€Å"You all right?† he said. â€Å"Of course he isn't!† said Professor Trelawney, looking thoroughly excited. Her great eyes loomed over Harry, gazing at him. â€Å"What was it. Potter? A premonition? An apparition? What did you see?† â€Å"Nothing,† Harry lied. He sat up. He could feel himself shaking. He couldn't stop himself from looking around, into the shadows behind him; Voldemort's voice had sounded so close†¦. â€Å"You were clutching your scar!† said Professor Trelawney. â€Å"You were rolling on the floor, clutching your scar! Come now. Potter, I have experience in these matters!† Harry looked up at her. â€Å"I need to go to the hospital wing, I think,† he said. â€Å"Bad headache.† â€Å"My dear, you were undoubtedly stimulated by the extraordinary clairvoyant vibrations of my room!† said Professor Trelawney. â€Å"If you leave now, you may lose the opportunity to see further than you have ever -â€Å" â€Å"I don't want to see anything except a headache cure,† said Harry. He stood up. The class backed away. They all looked unnerved. â€Å"See you later,† Harry muttered to Ron, and he picked up his bag and headed for the trapdoor, ignoring Professor Trelawney, who was wearing an expression of great frustration, as though she had just been denied a real treat. When Harry reached the bottom of her stepladder, however, he did not set off for the hospital wing. He had no intention whatsoever of going there. Sirius had told him what to do if his scar hurt him again, and Harry was going to follow his advice: He was going straight to Dumbledore's office. He marched down the corridors, thinking about what he had seen in the dream†¦it had been as vivid as the one that had awoken him on Privet Drive†¦.He ran over the details in his mind, trying to make sure he could remember them†¦.He had heard Voldemort accusing Wormtail of making a blunder†¦but the owl had brought good news, the blunder had been repaired, somebody was dead†¦so Wormtail was not going to be fed to the snake†¦he, Harry, was going to be fed to it instead†¦. Harry had walked right past the stone gargoyle guarding the entrance to Dumbledores office without noticing. He blinked, looked around, realized what he had done, and retraced his steps, stopping in front of it. Then he remembered that he didn't know the password. â€Å"Sherbet lemon?† he tried tentatively. The gargoyle did not move. â€Å"Okay,† said Harry, staring at it, â€Å"Pear Drop. Er – Licorice Wand. Fizzing Whizbee. Drooble's Best Blowing Gum. Bertie Bott's Every Flavor Beans†¦oh no, he doesn't like them, does he?†¦oh just open, can't you?† he said angrily. â€Å"I really need to see him, its urgent!† The gargoyle remained immovable. Harry kicked it, achieving nothing but an excruciating pain in his big toe. â€Å"Chocolate Frog!† he yelled angrily, standing on one leg. â€Å"Sugar Quill! Cockroach Cluster!† The gargoyle sprang to life and jumped aside. Harry blinked. â€Å"Cockroach Cluster?† he said, amazed. â€Å"I was only joking†¦.† He hurried through the gap in the walls and stepped onto the foot of a spiral stone staircase, which moved slowly upward as the doors closed behind him, taking him up to a polished oak door with a brass door knocker. He could hear voices from inside the office. He stepped off the moving staircase and hesitated, listening. â€Å"Dumbledore, I'm afraid I don't see the connection, don't see it at all!† It was the voice of the Minister of Magic, Cornelius Fudge. â€Å"Ludo says Berthas perfectly capable of getting herself lost. I agree we would have expected to have found her by now, but all the same, we've no evidence of foul play, Dumbledore, none at all. As for her disappearance being linked with Barty Crouch's!† â€Å"And what do you thinks happened to Barty Crouch, Minister?† said Moody's growling voice. â€Å"I see two possibilities, Alastor,† said Fudge. â€Å"Either Crouch has finally cracked – more than likely, I'm sure you'll agree, given his personal history – lost his mind, and gone wandering off somewhere -â€Å" â€Å"He wandered extremely quickly, if that is the case, Cornelius,† said Dumbledore calmly. â€Å"Or else – well†¦Ã¢â‚¬  Fudge sounded embarrassed. â€Å"Well, I'll reserve judgment until after I've seen the place where he was found, but you say it was just past the Beauxbatons carriage? Dumbledore, you know what that woman is?† â€Å"I consider her to be a very able headmistress – and an excellent dancer,† said Dumbledore quietly. â€Å"Dumbledore, come!† said Fudge angrily. â€Å"Don't you think you might be prejudiced in her favor because of Hagrid? They don't all turn out harmless – if, indeed, you can call Hagrid harmless, with that monster fixation he's got -â€Å" â€Å"I no more suspect Madame Maxime than Hagrid,† said Dumbledore, just as calmly. â€Å"I think it possible that it is you who are prejudiced, Cornelius.† â€Å"Can we wrap up this discussion?† growled Moody. â€Å"Yes, yes, let's go down to the grounds, then,† said Fudge impatiently. â€Å"No, it's not that,† said Moody, â€Å"it's just that Potter wants a word with you, Dumbledore. He's just outside the door.†

How firmly was the Tsar in control of Russia before 1905? Essay

Russia was an Autocracy before 1905 and the Tsar was Nicholas 2nd. Many people dispute over whether he was in control or not, the main factors being: The Tsar’s leadership, Opposition to the Tsar, Social and Economic conditions and finally means of control. It can be argued that some factors are more important than others, but they are all significant in how I believe the Tsar was losing control. The Tsar’s flaws as a leader were an extremely important reason as to why he was losing control of his country. Russia was an autocracy- this meant that the Tsar had full control of the country and had the final say in every decision. This could have been positive, but I think it was a negative thing. He was not a very decisive person, and he would not delegate to others (An example of this being, how he interfered in the appointments of local midwives.) While he was busy doing the wrong jobs he needed employees that were capable of the best. Another flaw of Nicholas’ was that he was extremely suspicious of those cleverer than him and fired many of his best workers (Count Witte) and preferred to hire only family and friends. This helped to weaken his control on Russia because not only did he lose respect from his people, but also he was not doing his job and as the only ruler of the country, Russia did not have a focused authority figure. The Tsar had a lot of opponents within Russia and he did not deal with them to the best of his abilities. This meant he was not firmly in control of Russia at all. The 4 main opposing groups were: The Liberals (Cadets), The Social Revolutionaries (SRs) and The Social Democratic Party (Bolsheviks and the Mensheviks) Although the different groups were all angry at different things, the one thing they had in common was that they were all unhappy about Russia’s Social and Economic Situation. In my opinion the Bolsheviks were the most dangerous group towards Tsar and the government, followed by the SRs then the Mensheviks finally the Liberals. Even though the Liberals had the most supporters, they were a peaceful group; they were not doing any damage to Russia. The Tsar did not believe they were a threat so chose to ignore them. However with the Bolsheviks they had a huge following (the working class.) Their approach to change was violence as was the SRs. The SRs managed to get close enough to the government to kill 2 of their officials. The Tsar dealt with the Bolsheviks and the SRs by killing them or exiling them. By exiling them he showed a lot of inexperience with how he dealt with these groups .All he did was send them away; this did not stop them from coming back! Siberia is in the east of the country (the opposite side as to where the Tsar was), but it is also a desert. This meant that the people the Tsar exiled became resentful towards him, as they had to live in a desert. An advantage to being exiled was that it was in the middle of nowhere. The organisations could discuss ideas and produce plans of future rebellions without the Tsar knowing what was going on. By not knowing this he lost an element of control because he did not know what his most violent organisations were doing. Every group in the Feudal system (except the aristocrats) had an organisation to rival the Tsar. This was bad because that meant at the very least only 1.5% of the population (aristocrats) were in full support of him. By not having the full support of his people the Tsar lost a lot of control because as a leader your people need to respect you but also have faith that you will do the right thing for the country in general (not just a specific group.) The monarchy was mostly made up of aristocrats, so was the government and army officials. By having only aristocrats in important positions the Tsar was not being fair, the 80% of the population that were peasants had a lot of reasons to despise the Tsar. This further allowed his control on Russia to loosen, it lost him support of people and the public started to realise that the Tsar was not the leader they needed to help them receive a better way of living. They needed someone that was not desperate for the power and someone who could hold control. Finally the fact the organizations even existed meant that he had lost some control already. If people respected him they would no t have started oppositions and formed plans. The groups all had plans. Whether they would work or not was a different issue. His weak leadership meant that he would not let anyone help him, he had resorted to last attempts by exiling people and had become desperate this shows how out of control he was and he knew it, because no one helped him he did not have a well thought out plan as to how to deal with the groups. The social and economic conditions in Russia would have made it hard for any leader to keep control, never mind the Tsar (a poor leader who had a lot of opposition.) 80% of Russia were peasants where as the aristocracy who owned 25% of the land and were only 1.5% of the population. This suggests that the gap between the rich and the poor was extreme. As the number of peasants moving to the city increased, more and more people started to realise how big this gap truly was and did not like it. Having to walk past lavish mansions on their way home, to rooms they probably shared with at least 1 other family created tension between the two social groups. The rich were getting richer and the poor poorer and nobody could move up the system. To make matters worse Russia spans 12 time zones and 60% of the population did not speak Russian. The Tsar lived in the far west so if a problem occurred in the east he would not be able to deal with it for days which meant his control of the situation decreased. If only 40% of you population speaks the national language it makes it harder for internal communication. The laws in Russia may have been harder to understand and those who did not speak the Tsar’s language would not have been as easy to control. The Tsar did not have as much domination as he thought he did because he could not control what was happening with some of the people and circumstances in the other end of his country. The Tsar used a lot of resources to try and keep his people under control, but to me it became apparent that the more resources he used the more the people refused to submit to his rules. One of his many means of control was the religious persecution of the Jews. All throughout history dictators have used specific groups of people (mostly the Jews) as scapegoats. Trying to pass the blame of the country onto someone else showed that the Tsar feared he would lose all of his control over the people if they thought it was his entire fault. Other means of control the Tsar used were: Secret police, regular police, prisons, and the army. In Leo Tolstoy’s letter to the Tsar in 1902 he says, â€Å"The numbers of regular police and of the secret police are continually growing.† This shows that the Tsar had started these policies but they were not working. People refused to be led by a man that was not objective to all groups in society and did not have the leadership required to be a successful Tsar. Overall I think that in the long-term it weakens his control but in the short term in strengthens his control. Showing the force he has the power to use might scare some of the population into behaving (but not for very long, I think they will see right through him.) However, having to rely on force (only at the point of a gun) shows his concern of the control he has over his country. The fact that the severity of the situation ended in armed forces patrolling the people, carrying live ammunition also shows his concern and ever shrinking clasp of control. After reviewing all of the evidence I believe that the Tsar was not in control of Russia before 1905. The Tsar’s poor qualities as a leader lost him respect from the people, as did the organizations opposing him. His desperation showed a lot in the decisions he made. If you are in control you are not desperate, you believe in the decisions you make, and the Tsar did not. Almost all of his forms of control failed in the long-term. The opposing groups managed to create plans and had a substantial number of followers. The social and economic situation made it ever harder to control Russia and his flaws isolated him from help and minimized the 1.5% of people that believed in him. The strongest evidence in my opinion is the opposition to the Tsar. All of the other facts contributed to the main point that he had opposition. If a leader has friction between him and his people he will always struggle to have control but the Tsar just had to many recurring problems to have control.

Who or what started and perpetuated the Cold War Essay

Who or what started and perpetuated the Cold War - Essay Example Bernard Baruch who was the senior advisor to Harry Truman (33rd president of the US), in context to the frequent occurrence of the crisis among the two nations, termed the situation as â€Å"Cold War† in 1947 (Global Security, 2010). The Cold War began in 1917, with the appearance in Russia of a radical Bolshevik regime dedicated for dispersal of communism throughout the modern world. There were differences in opinion between the US government and the Soviet Union. The US government interpreted communism to be an international development that was in the direction of favouring transnational communism. But it was found out that the communists across the world were loyal as they received orders from Moscow (Global Security, 2010). In the year 1918, the US had united unresponsively in an unsuccessful linked effort to collapse down the revolutionary Soviet regime. Distrustful relations between the Soviets and the US long before the Second World War prepared them as reluctant supporters in the combat against Nazi Germany (Global Security, 2010). The Great Britain and the US struggled against the Bolsheviks, between 1918 and 1920. In 1918 American groups contributed in the allied involvement in Russia in support of anti-Bolshevik armed forces (Global Security, 2010). The argument lies between the interpretation of the US government and the thought of the Soviet Union. The Russian argued that whether this approach of the Soviet Union proved to be a threat to the US or whether the US decision makers, misinterpret Soviet and communist. The Soviets ideology might have been interpreted in wrong way due to political interest. The US government could have perceived the level of threat to be huge and not in favour of the political environment in future (Macdonald, 1995). There are numerous thoughts and perceptions that had created the Cold War and were argued whether the issues were right or wrong in the context of the Soviet and the US political leaders.

Slavery Throught The World Research Paper Example | Topics and Well Written Essays - 1250 words

Slavery Throught The World - Research Paper Example The history of human civilization is the most explicit document of the fact that corruptible capacity of power can be enhanced to such an elaborate extent that it finally gives birth to a situation of brutal aggression of one man or a community over another less powerful individual or community. Aristotle in Politics suggested quite prophetically that â€Å"†¦ [the] greatest crimes are caused by excess and not by necessity. Men do not become tyrants in order that they may not suffer cold; and hence, great is the honor bestowed, not on him who kills a thief, but on him who kills a tyrant† (Aristotle, 1932, p. 33). Thesis Statement: Judging the factors that are responsible behind genesis of slavery and helping in to take different shapes according to the changing course of time, it can be said that man’s insatiable hunger to gain power, in terms of money and recognition, his natural desire to survive as the fittest being and finally his indomitable desire to enjoy all the rights that society has enshrined to him even at the cost of depriving others, are main reasons that introduced the evil of slavery on the ideological backdrop of an equal and humanitarian existence. Most of the modern philosophers are of opinion that human interaction and development of human relations, both are dependent on respective person’s perception of power and how they are interpreting scope of such power. Max Weber defines power as an â€Å"†¦ [opportunity] existing within a social relationship which permits one to carry out one’s will even against resistance and regardless of the basis on which this opportunity rests† (Weber; Cited in Patterson, 1982, p. 1). One of the greatest philosophers of recent times and famous post-structuralist, Michel Foucault, though has defined power in a much simple way, suggesting that â€Å"power is a relation between forces, or rather every relation between forces is a ‘power relation’† (Deleuze,and

Online Journalism, Mass Media and Communication Essay

Online Journalism, Mass Media and Communication - Essay Example Most researchers and academicians assert that the internet communication is a superior way to attain competitive advantage in this century. This is critical since timely information facilitates accurate and timely decision making towards execution of valuable activities. It is imperative for institutions and various individuals to embrace technological advancement towards ensuring quality provision of information. This paper gives an insight about online journalism especially the web and blogsphere. 2.0 Web and blogsphere Journalists are bound, with professional ethics and obligation, to disseminate credible information based on factual elements. This is critical since information they make available facilitate progressive decision-making. Web 2.0 and blogosphere provides an online edited gathering of essay and information, which gives discursive and communicative facts (Mitchelstein & Boczkowski 2010). Consequently, blogs also exist together as connected community where various indi viduals publish various opinions for internalization globally with an example being the New York Times where blogs serve as communicative avenues. It is a concept, which currently is adoptable due to increased need for timely information touching on various issues. ... bility towards the provision of timely information based on factual events and matters cannot be challenged easily especially in the current century (Lowrey & Kim 2009). The world is presently a global village through technological enhanced services thereby rendering blogging venture reliable and relevant. Variably, journalist’s updates via the internet are fit and subject to regulation by international journalism standards, which ensure that value is achievable within the reported content of information (Deuze, Neuberger & Paulussen 2004). Evidently, internet communication has positively resulted to sound performance in various institutions; for example, it benefits businesses through customer retention, conversion, reach, and community integration. According to Frey (2011), it has the potential to leverage performance in the modern societies towards building strong information based capacities. Clearly, individuals require timely and valuable information to facilitate choice making on various matters like economic issues due to dynamic changes. It is stated that quality performance is reliant on the eminence of communication in various departments and sectors (Frey 2011). That is, timely provision of quality information facilitates superior decision making which in turn leads to excellence in various institutions. Consequently, blogging also expands ones network system and societal integration through adoption of best practices in life with an example being the political dispensation in US, which is often affected by blogs. According to Srisuwan (2008), technology is a key pillar towards developing sustainable communication networks thus institutions should ensure integration of technological activities for sound performance. Similarly, Morozov in his articles