Italian Indefinite Articles - Articoli Indeterminativi

Italian Indefinite Articles - Articoli Indeterminativi The Italian uncertain article (larticolo indeterminativo) compares to Englishâ a/anâ and is utilized with solitary things. It likewise compares to the numberâ one. Uncertain ARTICLES MASCHILE FEMMINILE uno zio (uncle) una zia (auntie) un cugino (cousin, m.) una cugina (cousin, f.) un amico (companion, m.) unamica (companion, f.) Unoâ is utilized for manly words starting withâ zâ orâ sâ â consonant;â unâ is utilized for all other manly words. Una is utilized for ladylike words starting with a consonant;â un’â is utilized for female words starting with a vowel. un treno e una biciclettaun aeroplano e un’automobileuno stadio e una stazione Step by step instructions to Use Italian Indefinite Articles​ In Italian, an article is the variable part ofâ discourseâ that shows up before theâ nounâ to indicate the sexual orientation and number of the thing. Anâ adjectiveâ can be put between the article and thing: Ilâ viaggioâ in Turchia à ¨Ã¢ unaâ buonaâ idea per le prossime vacanze.The outing to Turkey is a smart thought for your next get-away. È stato un viaggio molto interessante.It was a fascinating excursion. Iâ ragazzi si alzino in piedi,â leâ ragazze restino sedute.The young men stand up, the young ladies stay situated. Loâ sport à ¨Ã¢ unattivit salutare per gli adolescenti.Sport is a solid interest for youngsters. NOTE: The article offers an incentive to the thing and some other grammatical form it goes before: Il mangiar troppo non giova alla salute.Overeating isn't helpful for ones wellbeing. Lo stranoâ della storia à ¨ che nessuno udã ¬ lo sparo.The odd piece of the story is that nobody heard the shot. Bene,â il pià ¹Ã‚ à ¨Ã‚ fatto!Well, the activity is finished! In Italian, an article can either be aâ definite articleâ (articolo determinativo), an uncertain article (articolo indeterminativo), or aâ partitive articleâ (articolo partitivo). Inconclusive ArticleIn Italian, the uncertain article is set before the thing to demonstrate a conventional, uncountable thing. It is likewise utilized before the names of callings just as with regular names or last names to show a gem. In English, inconclusive articles relate to the terms an and an. It has the accompanying structures: Manly (singular): un, unoFEMININE (singular):â una,â un unâ isâ used before a manly thing that begins with a vowel or consonant: unâ amicoa companion unâ giornoone day unâ tavoloa table NOTE: un is never followed by a punctuation. unoâ pressed a word that begins with:  »Ã¢ sâ impuraâ (sâ consonant) unoâ scontrinoa receipt unoâ specchioa reflect unoâ svagoa preoccupation  »Ã¢ yâ semiconsonanticaâ (semivowel y) unoâ yogurta yogurt unoâ yachta yacht  »Ã¢ gn,â ps,â x, andâ z unoâ gnomoa little person unoâ psicologoa clinician unoâ xenofoboa xenophobic unoâ zainoa knapsack unaâ is utilized before a ladylike word that starts with a consonant: unaâ madrea mother unaâ ziaan auntie unâ is utilized before a ladylike word that starts with a vowel: unautomobilea vehicle unamicaa companion NOTE: The inconclusive article has no plural structure; anyway it tends to be suggested:  »Ã¢ by discarding the article: Leggo giornali.I am understanding papers. Mangio pere e mele.I am eating pears and apples.  »Ã¢ with the partitive article, with the proposal ofâ qualche,â alcuni, orâ unâ po di: Prendo caffã ¨ e dei biscotti.Im having espresso and bread rolls. Vorrei comprare dei libri.I might want to purchase books.

The disclosure structure and its effect on performance Essay

The revelation structure and its impact on execution - Essay Example The exploration consolidated substance assessment of CSR reports, and corporate execution information of different organizations shrouded in the Accountability Rating insights of the period 2004 to 2007 to encourage the investigation. The examination used a multifaceted way to deal with break down powerful factors fit for advising the investigation. Especially, the exploration related the level, and structure of natural and cultural revelation to CSP. The exploration used a plan equipped for tending to contemplate goals in like manner. The examination test was created by following educated methods prompting the foundation of a comprehensive example. The examination recognized compelling factors for estimating the impact of training on the firm’s execution to look at the impact of the revelation level and the structure on the company’s CSP. As indicated by Panneerselvam, a perfect examination must characterize every basic variable that when analyzed can assist one with b uilding up an educated end. The scientist ought to recognize various sorts of factors to propose perfect strategy for surveying each. Analysts leading the examination thought about the factors while setting an example for their investigation. This is clear in the study’s approach of concentrating on an example of association with basic measurements that permitted scientists survey every important variable reliably. The investigation sourced information from a differing populace of worldwide organizations remembered for solid business measurements to build up a longitudinal dataset for the examination.

Ethics as a Socio-Technical Approach for Databases - myassignmenthelp

Question: Examine about theEthics as a Socio-Technical Approach for Databases. Answer: About Socio-Technical Design In the cutting edge times there are various classifications of Information innovations that incorporates databases, specialist frameworks, distributed computing applications, exchange handling frameworks, web based frameworks, appraisal emotionally supportive networks and considerably more. The utilizations of these frameworks are not the same as the overall Internet based frameworks to the individual based frameworks (Peppard and Ward 2016). This report bargains about the early advancement of ETHICS framework and how it has modified with time. This report further researches about the reality how the ETHICS is another socio-specialized way to deal with the data frameworks in the cutting edge times. The socio-specialized coordination configuration plan was the result of the endeavors of a gathering of cultural researchers who teamed up toward the apocalypse War II and shaped the Tavistock Institute of Human connections in London. The Tavistock organization was a center that pre-owned remedial techniques that captured with the mental wellbeing and individual turn of events. This was the primer goal of the foundation, albeit bit by bit these thoughts were executed on the laborers of the different ventures (Chai and Kim 2012). Improvement of ETHICS Morals was a participational technique that has been created by Professor Enid Mumford that has been founded on her socio-specialized encounters. This term is additionally characterized as ETHICS (Effective Technical And Human Implementation of Computer based Systems). Morals is additionally alluded as a socio-specialized methodology that perceives the joint effort of frameworks, innovation and individuals that is thusly compelling in delivering yields that are similarly actually viable and had social attributes that at last prompts a higher activity fulfillment. The ETHICS approach was defined on the examination and investigation of contextual investigations that rotated around disappointments of numerous frameworks that followed progressively conventional courses and headings dependent on the specialized and monetary components (Mumford 2013). From these contextual analyses and perception it was at long last advocated that the improvement of the data frameworks was not something that was identified with the specialized issue yet it was progressively identified with the authoritative issues that was instrumentally concerned and exposed to the procedure of progress. The previous models of ETHICS was connected and worried about the realities that guaranteed about the clients being satisfied with their employments and the push to decide the impact of data innovation on their occupations just as the view of the way that these advances were considered as the go between of the progressions inside the association. Phases of ETHICS The individual clients, supervisors and the IT staffs were the primary people who used to join this strategy utilizing the various phases of ETHICS. This strategy was stretched out to the thought identified with the issues that means the accessibility and trustworthiness after they were brought into the framework. The previous phases of ETHICS had seven phases however step by step these stages were extended to fifteen levels and stages. These phases of ETHICS have been quickly refered to beneath. Stage 1 Need for these progressions Stage 2 The ID of the framework limits and impediments Stage 3 Description and the meaning of the prior framework structure Stage 4,5 and 6 Characterization of the key reason and the assignments that should be accomplished Stage 7 Diagnosis or ID of the successful changes Stage 8 Identification of the activity fulfillment needs among the representatives or people Stage 9 Future investigation Stage 10 Specifying and estimating of the activity fulfillment levels Stage 11 Organizational structuring of the new framework Stage 12 The specialized determinations Stage 13 planning of a full point by point examination of the work structure Stage 14 Implementation Stage 15 Evaluation or Calculation Analysis of ETHICS and its correction Morals confronted various reactions during the time spent application. Analysis came in type of criticisms, for example, untalented or less fit clients can't plan, the authoritative administration to dismiss the framework, it repudiate the privilege of the chiefs to screen and examine the emergency and it is a moderate and exorbitant strategy regarding staff, time and endeavors (Stahl 2012). So as to relieve these worries over the uses of ETHICS, a further developed and created framework known as QUICK morals (Quality Information from Considered Knowledge), that was basic in creating and hold the administrative interests. Along these lines, it tends to be defended that ETHICS is one of the more current and propelled route for the socio-specialized advancement in associations. This progressed and imaginative approach to gauge and break down the disappointments and adequately control the activity fulfillment among the workers and the hierarchical administration is one of fruitful techniques in the data frameworks module. References Chai, S. what's more, Kim, M., 2012. A socio-specialized way to deal with information commitment conduct: An observational examination of long range interpersonal communication locales users.International Journal of Information Management,32(2), pp.118-126. Mumford, E., 2013.Values, innovation and work(Vol. 3). Springer Science Business Media. Peppard, J. also, Ward, J., 2016.The vital administration of data frameworks: Building a computerized technique. John Wiley Sons. Stahl, B.C., 2012. Profound quality, morals, and reflection: an order of standardizing IS research.Journal of the Association for Information Systems,13(8), p.636.

Comparative Study on Singapore vs Indian Higher Education System Essay

Theoretical: In the realm of globalization pretty much every nation on the planet needs their instruction framework to be the best, so their understudies can acquire the vital abilities and information educated by the schools/colleges that addresses the difficulties of the 21st century. The current article investigates how Singapore and Indian method of advanced education framework works; in what direction both the nations vary and how they are driving in the field of advanced education and it additionally feature the diverse pathway that prompts the student’s movement from their nursery to doctorate qualification. 1. 0 Indian instruction framework: The University Education Report had define objectives for improvement of advanced education in the nation. While articulating these objectives Radakrishnan Commission on University Education, 1948-49 put it in following words: â€Å"The generally significant and earnest change required in training is to change it, to try to relate it to the life, needs and desires of the individuals and in this manner make it the amazing instrument of social, financial and social change important for the acknowledgment of the national objectives. For this reason, training ought to be grown in order to expand profitability, accomplish social and national joining, quicken the procedure of modernization and develop social, good and otherworldly qualities. † India’s advanced education framework is the third biggest on the planet, after China and the United States. The primary overseeing body at the tertiary level is the University Grants Commission (India) is a legal association built up by an Act of Parliament in1956 for the coordination, assurance and upkeep of guidelines of college training. Aside from giving awards to qualified colleges and universities, the Commission additionally prompts the Central and State Governments on the measures, which are important for the advancement of advanced education. Focal Government is answerable for significant arrangement identifying with advanced education in the nation. It gives awards to University Grants Commission (UGC) and sets up focal colleges in the nation. The Central Government is additionally answerable for announcement of Education Institutions as ‘Deemed to be University’ on the proposal of the UGC. Accreditation for higher learning is supervised by 12 self-sufficient foundations set up by the University Grants Commission. Toward the finish of the third year of XI Plan (2009-10), the quantity of Universities has gone up to 493 (42 Central, 130 Deemed and 316 State Universities and 5 Institution built up under Special State Legislature Acts) and the quantity of Colleges to 31,324, in this way enlisting an expansion of 36% in the number Universities and 48% on account of Colleges in contrast with the figures toward the finish of X Plan (31. 03. 2007). During the scholarly year 2009-10, there had been 146. 25 lakhs (temporary) understudies took a crack at different courses at all levels in colleges/schools and different establishments of advanced education when contrasted with 136. 42 lakhs in the earlier year, enrolling an expansion of 7. 2 percent. Out of 146. 25 lakhs, 60. 80 lakh had been ladies understudies, comprising 41. 6 percent. The relative pattern of all out understudies enrolment and enrolment of ladies understudies, among states during 2009-10 had been expanded. The enrolment of ladies understudies, as far as total numbers, had been the most noteworthy in the province of Uttar Pradesh (8. 4 lakhs), trailed by Maharashtra (7. 8 lakhs), Andhra Pradesh (6.1 lakhs), Tamil Nadu (5. 2 lakhs) and so on. As far as rates, Goa represented the most elevated level of 59%, trailed by Kerala (57%), Punjab and Meghalaya (51%) and so forth demonstrating the strength of young lady understudies over young men in these states and A&N Islands (52%), Chandigarh (51%), Puducherry (half) among the Union Territories. (Yearly Report, University Grant Commission (UGC, 20092010)). The enrolment position in the scholastic year 2009-10 uncovers that dominant part of understudies in the advanced education framework had been enlisted for an assortment of courses at the under-graduate level. The understudies at this level comprise temporarily 86. 55 percent of the complete number of understudies in schools and colleges set up. The level of understudies enlisted for Master’s level courses had been 11. 49 percent while a little extent I. e. 0. 89 percent of the absolute number of understudies had been selected for look into. Correspondingly, just 1. 15 percent of the complete number of understudies had been joined up with recognition/endorsement courses. As respects the circulation of student’s enrolment among colleges and subsidiary universities, the biggest number of understudies in the advanced education framework had been tried out associated schools. Around 90. 24 percent of all the under-graduate understudies and 70. 83 percent of all the post-graduate understudies had been taken a crack at the partnered schools, while the remaining had been in the colleges and their constituent universities. (Yearly Report, University Grant Commission (UGC, 2009-2010)). 115 IRACST-International Journal of Research in Management and Technology (IJRMT), ISSN: 2249-9563 Vol. 2, No. 1, 2012 There has in reality been extensive improvement in the advanced education situation of India in both quantitative and subjective terms. In specialized instruction, the IITs, and in the executives, the IIMs have just denoted their names among the top higher instructive establishments of the world. Additionally the Jawaharlal University and Delhi University are likewise viewed as great higher instructive organizations for doing postgraduates courses and research in science, humanities and sociologies. Accordingly, understudies from different pieces of the world are coming today for advanced education in India. Aside from these advanced education establishments there are a few private foundations in India that offer different expert courses in India. As per the Department of advanced education, administration of India, there are all out enrolment of understudies (146. 25 lakhs), 42. 01% understudies had been in the workforce of Arts, trailed by 19. 30% in Science and 17. 83% in Commerce/Management. In this way, 79. 14% of the absolute enrolment had been in the three resources of Arts, Sciences and Commerce/Management while the staying 20. 86% had been in the expert resources demonstrating the most noteworthy rate in Engineering. /Technology (10. 33%), trailed by Medical courses (3. 48%), and so on. In the scholastic year 2009-2010, the complete number of instructors in colleges and schools had been 6. 99 lakhs when contrasted with 5. 89 lakhs instructors in the earlier year. Out of 6. 99 lakhs instructors, 86% educators had been in Colleges and the staying 14% in University Departments/University Colleges (Annual Report, University Grant Commission (UGC, 2009-2010)). bookkeeping, instructing, medication, law, horticulture, veterinary, polytechnic and others. 1. 2 The Current Scene: India is today one of the quickest creating nations of the world with the yearly development rate going above 9%. So as to continue that pace of development, there is have to expand the quantity of organizations and furthermore the nature of advanced education in India. In this manner the Prime Minister of India has declared the foundation of 8 IITs, seven Indian Institutes of Management (IIMs) and five Indian Institutes of Science, Education and Research (IISERs) and 30 Central Universities in his discourse to the country on the 60th Independence Day. The expense for instruction during the eleventh Five Year Plan, which runs from the current monetary to 2012-13, speaks to a four-overlap increment over the past arrangement and stands at Rs 2500 billion. 1. 3 Advantages of Indian advanced education: With India developing as a worldwide center for business R&D (India Today International, 3 Oct 2009), R&D inside the extent of Higher Education has increased more prominent significance. Presently, the nation is quick rising as a significant community for bleeding edge innovative work (R&D) ventures for worldwide multinationals, for example, Microsoft and Motorola just as Indian firms. An ever increasing number of organizations in enterprises going from IT and broadcast communications through pharmaceuticals and biotech are setting up yearning R&D ventures, to a limited extent to serve the Indian market, yet in addition with the end goal of conveying new ages of items quicker to the worldwide market. It has been expressed that 150 global firms have set up R&D focuses in India and in 2004 US licenses office allowed more than 1000 licenses to Indian units of US organizations. India has created perhaps the biggest arrangement of Higher Education on the planet with more than 493 colleges and 6500 professional schools taking into account around 10 million understudies. India gives a major market and playing field for private activities at both the national and worldwide levels. It is wealthy in HR, as far as amount just as quality. Measurements from the Indian registration agency appears, over 35% of our populace is underneath the age of 20. By 2020, it is normal that 325 million individuals in India will arrive at working age, which will be the biggest on the planet. This will come when the remainder of the created world will be confronted with a maturing populace were as India with its bourgeoning white collar class individuals who are eager to put resources into quality advanced education will be a benefit for India’s development in training. No big surprise that remote colleges from the US, Canada, UK, Australia, New Zealand, and Singapore are competing for understudies from India. India, as well, is attempting to draw in understudies from neighboring nations. It is likewise ready to take into account the necessities of the Indian Diaspora. Numerous non-inhabitant Indians are presently sending their wards to India for proficient instruction in the fields of medication, building, and business the executives. For them, advanced education in India is both savvy and socially rich. 1. 1 Pathway of learning in Indian instruction framework: The Indian Education System is contained six phases: n

Life After (and During) MIT

Life After (and During) MIT Well well well WE MEET AGAIN. I told you guys our paths would cross! For those of you who dont know me, Im Elizabeth. My hair is a little darker than my avatars and when I smile in real life, my face looks like its going to explode more so than in my avatar. I graduated a year ago, so perhaps you might be curious as to how different life is for me now Some things are definitely the same for instance, I wrote this entire blog post without periodically saving it (I like to live on the edge), and then my brower froze when I was about to publish and I lost the entry. Now Im re-writing it. See things havent changed since my blogger days. Other things are very different. I couldnt quite bring myself to leave the tute, so I took a job at MIT after graduation at the Office of Digital Learning (aka ODL the same fine folks who bring you MITx and OpenCourseWare), meaning that I never actually left this place. But let me tell you working at MIT is a suh-weet deal. All the awesome things about MIT the people, the research, the facilities, etc. none of the problem sets. Which brings me to why Im back on the blogs. See, there are lots of things about the transition to grown up life and this other side of MIT that I would love to share with you guys (and feel free to ask specific questions Ill try to answer in the comments), but if Im going to be real, Im here for one sole purpose: SHAMELESS SELF PROMOTION. At ODL, I took over an outreach webseries program aimed at getting people (especially you spry youths) jazzed about science and engineering. It was basically the perfect job ever, because it combined all of these seemingly-random experiences I had as an undergrad making videos for Admissions, working at that TV production company, working at a lab, studying engineering with some of my favorite things (science and kids and MIT) into this awesome amalgamation of awesomeness.* *I am still working on the eloquence aspect of adulthood. We just launched the first 3 episodes of Science Out Loud, which is a YouTube webseries written and hosted by MIT students. Our main mission at MIT+K12 Videos is to show folks that science and scientists dont necessarily look like what you see in textbooks and labs. Take Ashley. Shes awesome (I lived with her in Simmons Hall!). Oh, and SHES AN ASTROPHYSICIST. What a champ! Her episode is on exoplanets planets that exist outside of our solar system and how theyre so different from what were used to studying and why astronomers have just now started finding thousands of them. Or Evan. Hes also awesome. And his episode combines two things for which every child should develop an undying love BRAINS AND ROBOTS. Or Prashanth (who I also lived with in Simmons) and Maria. Not only do I have a cameo in this one with a bunch of lasers (pew pew), they cover the physics behind how invisibility cloaks work. Well release new episodes every Monday on our YouTube channel on everything from squid skin with a mind of its own to growing elevators to outer space and each one has a landing page with links to great MIT resources (like related OCW and MITx videos). If youre interested in MIT, our great students and research facilities, or just in learning more about our world, feel free to check them out.  I worked longer hours during production week of these episodes than I did during my undergrad at MIT, but it was so, so awesome. I learned so much and I got to see so many places on campus that Id never visited before. And I got to work with some AWESOME people. Bascially, life after MIT hasnt changed too much. I do get my own laundry machine, though. Oh! And if youre reading this and happen to be a current MIT undergrad or grad (or recent graduate) were casting for season 2! Check out the details here (Im looking at all of you current bloggers)

Life After (and During) MIT

Life After (and During) MIT Well well well WE MEET AGAIN. I told you guys our paths would cross! For those of you who dont know me, Im Elizabeth. My hair is a little darker than my avatars and when I smile in real life, my face looks like its going to explode more so than in my avatar. I graduated a year ago, so perhaps you might be curious as to how different life is for me now Some things are definitely the same for instance, I wrote this entire blog post without periodically saving it (I like to live on the edge), and then my brower froze when I was about to publish and I lost the entry. Now Im re-writing it. See things havent changed since my blogger days. Other things are very different. I couldnt quite bring myself to leave the tute, so I took a job at MIT after graduation at the Office of Digital Learning (aka ODL the same fine folks who bring you MITx and OpenCourseWare), meaning that I never actually left this place. But let me tell you working at MIT is a suh-weet deal. All the awesome things about MIT the people, the research, the facilities, etc. none of the problem sets. Which brings me to why Im back on the blogs. See, there are lots of things about the transition to grown up life and this other side of MIT that I would love to share with you guys (and feel free to ask specific questions Ill try to answer in the comments), but if Im going to be real, Im here for one sole purpose: SHAMELESS SELF PROMOTION. At ODL, I took over an outreach webseries program aimed at getting people (especially you spry youths) jazzed about science and engineering. It was basically the perfect job ever, because it combined all of these seemingly-random experiences I had as an undergrad making videos for Admissions, working at that TV production company, working at a lab, studying engineering with some of my favorite things (science and kids and MIT) into this awesome amalgamation of awesomeness.* *I am still working on the eloquence aspect of adulthood. We just launched the first 3 episodes of Science Out Loud, which is a YouTube webseries written and hosted by MIT students. Our main mission at MIT+K12 Videos is to show folks that science and scientists dont necessarily look like what you see in textbooks and labs. Take Ashley. Shes awesome (I lived with her in Simmons Hall!). Oh, and SHES AN ASTROPHYSICIST. What a champ! Her episode is on exoplanets planets that exist outside of our solar system and how theyre so different from what were used to studying and why astronomers have just now started finding thousands of them. Or Evan. Hes also awesome. And his episode combines two things for which every child should develop an undying love BRAINS AND ROBOTS. Or Prashanth (who I also lived with in Simmons) and Maria. Not only do I have a cameo in this one with a bunch of lasers (pew pew), they cover the physics behind how invisibility cloaks work. Well release new episodes every Monday on our YouTube channel on everything from squid skin with a mind of its own to growing elevators to outer space and each one has a landing page with links to great MIT resources (like related OCW and MITx videos). If youre interested in MIT, our great students and research facilities, or just in learning more about our world, feel free to check them out.  I worked longer hours during production week of these episodes than I did during my undergrad at MIT, but it was so, so awesome. I learned so much and I got to see so many places on campus that Id never visited before. And I got to work with some AWESOME people. Bascially, life after MIT hasnt changed too much. I do get my own laundry machine, though. Oh! And if youre reading this and happen to be a current MIT undergrad or grad (or recent graduate) were casting for season 2! Check out the details here (Im looking at all of you current bloggers)

Financial Ratios For Pace Ltd With Calculations Finance Essay - Free Essay Example

Introduction: Jill Dempsey and Mike Greaves started Pace Leisurewear Ltd five year ago. Pace Leisurewear are a manufacture and designer of leisure and casual clothes which aimed younger and higher-income group people. After lots of planning, they integrated product design and development with the sales and marketing. Clothes range are designed by young and team led by Jane Barker which attracted many buyers and then orders converted by marketing team led by Jill Dempsey. Companys sales started increasing after economy coming out of recession with new exports markets in France and Switzerland. Mike and Jill invested in Pace Leisurewear from their life time savings and major contribution or largest shareholder is Keeble Estates Ltd, owned by Keeble brother, David and John Keeble. The board of directors of Pace Leisurewear Ltd are Jill Dempsey, Mike Geaves, Jane Berker, David Keeble and John Keeble. Problems with Pace Leisurewear Ltd: According to draft accounts from auditors, company profit has doubled; however, the companys cash situation is poor because they have invested a lot on additional plant and after selling old machines they didnt get anything plus expenses includes pound; 2.8 million for depreciation itself. The main problem which is Pace Leisurewear going to face is reduction of bank overdraft by half in next 6 months. Cash situation of company is very poor and they need large injection of funds in order to fulfil Arena orders and sort out companys liquidity problem. Keeble brother already rejected the offer to introduce another major share holder in company because this may dilute Keeble brothers influence. Financial ratios: In order to monitor business performance, accounting ratios plays important role in interpreting financial information about company. The more you know about how business is performing, more it will be easier to make informed decisions about how to manage growth in business. These ratios include following details, like, sales, purchases and payment made to employees etc. Used to see how business is doing. We need to analyse these details in order to forecast and compare with competitors. Below are the ratios for Pace Leisurewear ltd with calculation: Liquidity Ratio: A business is considered to be solvent when it can pay its debts whenever they become due. This means it can pay its suppliers properly by having enough working capital. There are two key ratios that help us determining business solvency: Current Ratio Quick Ratio Current Assets include Stock, Trade debtors, other debtors and cash according to balance sheet as on 2008. Current liabilities include trade creditors, other creditors, taxation, dividends and bank over drafts according to balance sheet as on 2008. Current assets includes short term assets or receivable and current liabilities implies short term liabilities which is payable in one year. Current assets for year before last totalled as 4356 (000) and last year as 9974 (000) and current liabilities totalled for year before last as 2482 (000) and for last year as 8844 (000), Ideally, current ratio should be 2: 1 which shows business has enough current assets to pay current liabilities. Current ratio for year before last is 1.8:1 which shows company has enough liquidity to pay his debts, however, current year ratio stating 1:1 which increases concern about the Pace Leisurewear ltd ability to pay its short term debts. Quick ratio or acid-test ratio measures liquidity more accurate than current ratio because it does not includes value of stock in current assets. Stock takes time to get converted into cash with payment terms typically standing more than 30 days. In order to calculate quick ratio, we need to remove stock from current assets. Ideal quick ratio should be 1:1, Company year before last quick ratio was 0.8:1 which is somehow acceptable, however, current year quick ratio comes to 0.5:1 which shows company is going to face serious problem with liquidity. Stock totalled for year before last was 2418(000) and for last year was 5820 (000), stock figure shows, companys frequently doubled its stock. Profitability ratios: We can measure business is profitable with the help of Profit and loss statement, but in order to put profit into prospective, whether, profit is growing in proportion to the size of business or business is profitable in his sector etc. Below are the profitability ratios of Pace Leisurewear Ltd. Return on Capital employed: ROCE shows companys profitability percentage on profit before interest and tax over capital employed. Higher the ROCE higher the companys profitability. Year before last ROCE was approx. 20% which increased to 29% in last year because Profit before tax and interest was doubled as compare to year before last, however, at the same time company also increased their fixed assets and current assets to 14470 (000) and 9974 (000). Thats why theres in only 9% increase in ROCE otherwise ROCE figure would be 40%. Return on Equity: ROE measures the return on the funds of the owners and equity shows the total investment of the owners of the firm. ROE for year before last was 18% and last year is 33%, which is almost doubles from year before last. Higher the ROE higher the return for share holders. Net profit after tax and preference dividend increased more than double which shows company earning good return from shareholders equity. Gross profit margin: Gross profit margin or operating profit margin shows the percentage of amount remaining after paying cost of sales. Companys gross profit increased by approx. 65% from 6510(000) to 10792(000) over sales which increased by approx. 60% from 14006(000) to 22410(000). Gross profit margin for year before last was 46% which increased to 48% in last year. The major factor which affected gross profit margin was cost of sales because cost of sales increased by 55% from year before last to last year. Net profit margin: This shows relationship between net profit and sales and its widely used ratio in business. Ideally, it should be higher or keep on increasing over year. It shows business net profitability. Net profit margin for year before last was 15% which increased to 21% in last year. Profit after tax increased by 134% over previous which is a very good sign for business future prospective. Asset management/ Efficiency Ratio: Efficiency ratios helps to figure out how efficiently business using its assets. There are many different types of ratios which help us to measure efficiency of business. Stock turnover ratio: This ratio shows the number of days that on average money is tied up in stocks. Year before last stock turnover was 118 days which increased to 183 days in last year. Large turnover days, worst for the business because the money is not available to use anywhere else and money got freeze with stock. Stock is the part of working capital and its important to quickly convert stock into cash to avoid liquidity problem. Debtors turnover ratio in days: This ratio shows, how quickly and efficiently business is collecting its debts. Shorter the period better and longer period more chance for bad debts. Year before last debtor turnover was 42 days (approx) which increase to 61 days (approx) in last year, this shows more time money will be held with debtors. Creditors turnover ratio in days: The creditors turnover shows, in how many days business is paying its debts. Creditor turnover days should be always greater than debtors turnover days. Longer creditors turnover days good for the business because business holding creditors money for a long time. If we compare creditor and debtors turnover days for year before last, this shows company is collecting debts from debtors in 42 days and paying to creditors in 59 days and in last year, debtor turnover is 61 days and creditor turnover is 82 days (approx) which is quite good for the business. Borrowing ratio: Gearing ratio: Gearing ratio measures of financial leverage which demonstrate the degree to which business activities are funded by owner fund versus creditor funds. Year before last gearing ratio was 34% which shows company is less geared as they have loans of 3600 (000) over equity, however, in last year, gearing ratio increases to 42% which shows company is highly geared as compare to previous year. Company increased the loan amount by 83% (approx) which is 6600 (000). Higher the loans, the more interest company will have to pay and this may affect company capacity to pay dividends. Cash operating cycle: Cash operating cycle helps business in finding average time between purchases of inventory and receiving cash from sales. Cash operating cycle helps in analysing companys liquidity problem. According to the year before last cash operating cycle, its shows business takes 101 days to convert purchases into sales and in cash. Last year cycle increases to 162 days, this states in order to generate cash, company need to wait for long 162 days. Plan of action: After analysing ratio for last two year, I found that company is soon going to face difficulties with liquidity. Bank already going to reduce over draft by half in next six months and this will make situation worst. Company need to consider in areas which require attention. Company is highly profitable, still company not able to finding investors. Company may look for investors who can invest in the company in exchange of high returns. Company can encourage customers and suppliers to make investment in the company; however, this may create interference in business by customer and suppliers in future policies. Company need to bring someone with financial background or expertise to take control over firm financing and investing activities. Company has invested a lot in fixed assets during last year, this shows company is growing rapidly without considering liquidity problem. Company need to control its growth and should more concern on orders to be fulfilled. Converting stock in cash is best possible short term solution, according to efficiency ratios, large number of stock turnover days affecting company cash conversion cycle which increased by 60% (approx) last year. Conversion of stock will reduce cash conversion cycle and thus increase cash inflow in company. Due to large amount of stock, quick ratio also affected badly. Try to get payment from debtors more rapidly and took a hold over creditors payment. Examine assets which are not required and thus sell them off in order to generate cash in business. Company can go forward to cancel proposed dividend for a particular year in order to maintain liquidity.