Financial Analysis And Report Of Dominos Pizza Finance Essay

Financial Analysis And Report Of Dominos Pizza Finance Essay This report is commissioned to analyse the current and previous Short-Term Liquidity, Capital Structure and Solvency, Operating Efficiency and Profitability of Dominos Pizza Group Limited. The method used in analysing includes, current ratios, liquidity ratios, profit margin, gross margin, return on capital employed, gearing ratio, interest cover, stock turnover, debtor days and creditor days. The results of the analysis depicts that Dominos Pizza Group limited is operating well with consistent growth in turnover, profit margin but with a very high gearing ratio. The major areas of concern are the stock turnover, debtor days and creditor days which need effective and efficient management. Therefore it is recommended that the collection period for debtors and the payment period for creditors and the stock turnover should be monitored and improved. The analysis also has its own limitations which includes the unavailability of comparative information from the mirror company, SHS pizza Limited. Analysis Short-Term Liquidity Current Ratio(x) Company 2009 2008 2007 Dominos Pizza 0.69 1.01 0.92 SHS Pizza Ltd 0.18 0.22 1.29 This provides the portion of the current liability of Dominos Pizza Group which can be settled with its current assets earnings. This shows the ability of Dominos to meet its short-term debt contracts with the available current liability as the fall due. From the above table, Dominos Pizza Group had a current ratio of 0.69 in 2009 as compared to the 1.01 and 0.92 in years 2008 and 2007 respectively. The 0.69 in year 2009 shows that Dominos is not liquid enough to meet its short term debt obligations as at 2009 despite it being better than the SHS Pizza Ltd at 0.18 times in the same year. With its brilliant performance in year 2008 at 1.01times, in 2007 it went slightly below its ability to cover the current liability with its current assets at 0.97 times unlike the SHS Pizza ltd which had a better performance in ratio of 1.29 times in 2007. (Tracy J,  2008 P287). Liquidity Ratio Company 2009 2008 2007 Dominos Pizza 0.64 0.97 0.85 SHS Pizza Ltd 0.12 0.16 1.17 The ability for Dominos Group to repay short-term creditors out of its available total cash is less than the general threshold of 1.00. In 2007, Dominos had a liquidity ratio of 0.85 and increased to 0.97 in 2008 but fell drastically in 2009. Comparatively, its mirror company, the SHS Pizza limited performed better being able to cover its short term liabilities fully by 1.17x in 2007. However, SHS Pizza ltd also had a drastic fall from 1.17x in 2007 to 0.16x and 0.12x in 2008 and 2009 respectively. (www.advfn.com) Capital Structure and Solvency Gearing (%) Company 2009 2008 2007 Dominos Pizza 413.87 321.59 435.34 SHS Pizza Ltd 988.47 665.44 175.68 From the balance sheet of Dominos plc, it can be seen that it had a long term debt of 18million in 2007 which reduced further to 9million in 2007 and was eventually cleared in 2009. On measuring the amount of capital that is borrowed, the gearing ratio for Dominos Pizza as at 2007 was 435.34% falling slightly to 321.59% and 413.87% in 2008 and 2009 respectively. With this high gearing, it indicates that the proportion of Dominos group borrowed capital is high. However its mirror company, the SHS Pizza ltd had a reasonably lower gearing ratio of 175.68% in 2007 increasing significantly to 988.47% in 2009. These figures show how prone both Dominos Group and SHS pizza ltd is to financial distress. Borrowing is a risk to Dominos because of the associated high interest payables and therefore Dominos will be in a dangerous position if the interest rate increases. (www.bized.co.uk). Interest Cover Company 2009 2008 2007 Dominos Pizza 62.00 30.25 41.72 SHS Pizza Ltd n/a n/a n/a Talking of interest, the interests cover for the Dominos group has improved significantly over the last three years. In 2007 it had 41.72x but dropped to 30.25x in 2008, it later got better in 2009 with a 62x cover. This is a good indicator that Dominos group is able to pay its interest with its available operating profit. This significant improvement could be as a result of effective control of Dominos expenses and the consistent increase in turnover of 92,018 in 2007 to 128,076 in 2009. (www.bized.co.uk). Operating Efficiency Stock Turnover Company 2009 2008 2007 Dominos Pizza 54.99 52.07 44.67 SHS Pizza Ltd n/a n/a n/a As at 2007, Dominos Pizza plc had a stock turnover of 44.67days. It began to increase to 52.07 days in 2008 and again increased further to 54.99 days in 2009. This means that it is holding stock for longer than the previous years and could consequently increase the cost for holding these stocks. It is therefore important that the Dominos Pizza Group improves on its stockholding period so as to reduce its associated costs. All other things being equal, as Dominos products is food and can easily spoil, it is necessary that the stockholding period be reduced to avoid bulk waste of products and as a result material costs. Debtor Collection (days) Company 2009 2008 2007 Dominos Pizza 7.34 11.11 14.71 SHS Pizza Ltd n/a n/a n/a Dominos Pizza was able to get cash from its debtors within 14.71 days in 2007, in 2008 it was able to retrieve 11.11days whereas in 2009 was 7.34 days. From the above table, Dominos Group has been able to maintain a healthy improvement in its debtors collection days from 14.71days in 2007 to 7days in 2009. It is therefore important that customers of Dominos Pizza pay earlier so that this can be used to pay-off it trade creditors on time as well. Creditors Payment (days) Company 2009 2008 2007 Dominos Pizza 23.84 21.54 21.40 SHS Pizza Ltd n/a n/a n/a Dominos Pizza Group has been able to maintain a longer period in paying of its creditors. In 2007, it took about 21.40 days for Dominos Group to pay of its creditors. This further increased to 23.84 days in year 2009. If Dominos is able to get more credit period, it will be able to use the available funds to maintain growth until the payment period is dew. Despite it being a good business practice for Dominos Group to get longer payment period in settling its debt, it is also ethical that it pays it debt on or before time. Profitability Turnover The Dominos Pizza has sustained turnover growth for the past three years rising from 92,018 in 2007 to 128,076 in 2009. The turnover is entirely the sale made from the United Kingdom with a zero sales from oversees for the whole three years. The increase in sales was basically due to a higher demand of Dominos Pizza in the UK whereas the Zero sales in the overseas is as a result of unawareness of the Dominos Pizza in the oversees. Profit Margin (%) Company 2009 2008 2007 Dominos Pizza 24.05 18.43 18.32 SHS Pizza Ltd n/a n/a n/a www.fame.bvdep.com From the table above, the Dominos Pizza has been able to maintain a profit margin of 18.32% in 2007 and growing further to 24.05% in 2009. This is as a result of the efficient control of the cost of sales and other expenses like the administration expenses for the past three years plus an outstanding increase in revenue from 92,018 in 2007 to 128,076 in 2009. (Kimmel PD, etal (2008) Accounting p243). Gross Margin (%) Company 2009 2008 2007 Dominos Pizza 41.05 39.74 39.94 SHS Pizza Ltd n/a n/a n/a Similarly, changes in the gross margin will be as a result of changes in the Dominos Pizza group turnover and cost of goods sold. From the above table and diagram, we can see that the year 2007 had a gross margin percentage of 39.94% slightly dropped to 39.74% in 2008 and later rose to 41.05% in 2009. The cost of sale comprised of 60.6% in sale as at 2007 and a 59% in 2009. In the same period there was no information disclosed for public use for its mirror company, the SHS Pizza. Return on Capital Employed (%) Company 2009 2008 2007 Dominos Pizza 112.58 149.71 418.60 SHS Pizza Ltd n/a n/a n/a In 2007, Dominos Group had a good return on capital employed of around 418.60%. Despite the slight reduction, it continued to maintain a higher than 100% ROCE in the years 2008 and 2009 with 149.71% and 112.58% respectively. However using the ratio pyramid, the product of net assets turnover and the profit margin will give us the Return on Capital Employed. This is depicted in the table below; Calculation of the Return on capital employed 2009 2008 2007 Net Assets Turnover 4.68 8.12 22.85 Profit Margin 24.05 18.43 18.32 Return on Capital Employed 112.55 149.65 418.61 Here, any change on the return on capital employed comes as a result of change in either the net assets turnover or the profit margin. From the above, it is the constant fall in the net assets turnover from the 22.85 in 2007 to 4.68 in 2009 which contributed to the fall in the ROCE from 418.6% in 2007 to 112.5% in 2009. On the other side, the profit margin continued to maintain improvement. The averagely high performance in ROCE indicates that, Dominos make good use of its assets well in profit creation. (Bedward and Strdwick 2004 p53)

Politician qualities Essay

A Politician qualities are his characters that is natural, while some of the qualities are as a result of external influences. Promising politicians qualities are often backed by skills, experiences, intelligence, integrity, with instincts -all combined together to achieve their goals. First and foremost, the best quality of a politician is honesty, God fearing and loving. A faithful and effective politician is trustworthy and reliable. He must capture the essence of truth, display sincerity, candor and practices what he preaches. He makes decisions and accepts responsibility for his actions and his words. The same is true in his dealing with his people. He makes promises and keeps those promises. Somebody that people may be relied upon. Loving people with all his heart, might, mind, soul and striving to help them as a true mark of responsible politician. Moreover, a fake politician, will after taken the oath office with the Holy book and lousy thanksgiving services, use their power as an end in itself, rather than for public good, making them indifferent to the progress of their citizens. A good politician becomes the image of his creator. A good and responsible politician will give high regard for morality, law abiding with no tendencies to corrupt even a single cent or kobo. The greatest strength of good politicians is deriving joy in serving people and not to steal tax payer’s money. They know that a fulfilling and meaningful life is created through service to others. To be an effective politician, your followers must have trust in you. And the very best way for a politician to build trust is to display good sense of characters and qualities composed of values, beliefs, traits and skills. Another important quality of a good politician is integrity and technical skills to handle those challenging assignments, fiscal matters, policies, plans, projects, ideas and initiative solutions to problems. Integrity is consistency of actions, methods, measures, values, principles, expectations and outcomes. It is doing what is right, both legally and morally at all-time even when no one is looking. Since politicians play very significant roles in the administrative processes, especially having hands in thousands of important laws and policies to their communities and country, thereby they should be well-educated, modest, with experience in social welfare, volunteering or should have done some good work for the society. A politician should have a  thorough knowledge and up-to-date information about the constituency where he is going to contest an election. A good politician should be of a well discipline personality with selfless service to make live better for his people. This should be reflected in the community where he lives in all ramifications. Discipline is necessary for an orderly society and political life, without it, the social life would become miserable. A selfless service is putting the welfare of the people representing before your own. Winston Churchill described it as â€Å"the first of all human qualities because it is the quality which guarantees all others†. A good politician firmly believes in taking care and maintaining the community of his people. He believes that community service is about giving back. According to Theodore Roosevelt, â€Å"the most successful politician is he who says what the people are thinking most often in the loudest voice†. A person or politician who is with criminal background, or any links with criminals or whose allegation on corruption has not been cleared by the law court should be disqualified to participate in elections. Responsibility and party loyalty is another quality of responsible politician in a democratic state. A transparent politician is nearer to his people and meeting them to understand their problems. Only fake politicians are seen by voters when an election is near or change parties as footballers change clubs. As every parent has its responsibility to teach their children the principles of moral, culture, truth, sincerity to be self- responsible, so politicians need to integrate its citizens with importance of political responsibility and democratic values. A politician leads by example and knows his minimum responsibilities as an elected representative. A politician comes to politics to work for his constituents and not to work against them. He is the beck and call of the people and ready to listen to everybody. All these build a strong foundation for a dynamic society which will create solutions for any challenges, and finally develop strategies and political systems that will help implement those solutions automatically. He is quick to give hand to his fellow man. A reliable politician should be very loyal and committed to his party which shares his vision and goals. The value of loyalty simply depends on trust. A citizen should belong to a party with most brilliant, skillful, patriotic and dynamic people with common goals and aspirations. Team work best when they have common goals, mutual respect and understanding of each party  member’s strength. Politics is to unite and reach consensus and not to divide or create enimity among people. Power is only a product of collective action. Finally, to become a great politician or statesman, you have to use your talents, skills, experiences, honesty, integrity, challenges and constraints with the positive effect that we can have in touching other human lives. Politician must leave his constituency better than before elected. Greatness is within reach of a politician who consistently do things they out to be doing. He learns from mistakes and criticisms. It is a bad politician that will see that all the good is in his side and that all the bad lies with his opponent or just because someone does not agree with him, does not mean that all their ideas and solutions are bad. Good politicians show respect to the views and experience of others. Nobody has a monopoly of wisdom. He/she who aspires to be a great politician should have the ability to find and analyses problems in their constituency and find the best solutions for all these problems. There is no problem in this world without solutions. A good politician knows that simply giving consistent effort in the little task of services, social reforms, kindness or sacrifice in day-to-day life leads to true greatness of a nation. If all politicians make it a point of responsibility to develop and make life better for people in their units, wards, constituencies, states and regions-we will definitely have a great country.

Top California Bar Essay Writing with Samples and Trainings Guide!

Top California Bar Essay Writing with Samples and Trainings Guide! The aim is to produce the correction quickly and without delay. It might not be quality work. On the way, you are going to learn how to handle your time, develop a strategy for bettering your testing performance, and ensure the consistent level of your answers. Instead you would like to learn new material and set it in the suitable context. Free writing examples and writing templates are located on the webpage. Listen to the training course audio lectures anywhere you may carry an iPod. The iPod rental program is intended to help you take the lectures with you, wherever you choose to study. The New Fuss About California Bar Essay Writing with Samples and Trainings However, what's universal is that if you're struggling with the writing portion, you must seek out help! Make certain that you have a very clear grasp of the fact pattern and the players involved. From writing a very simple thank-you note to business writing, the capability to express one's self through writing plays a major part our lives. Unfortunately, you can't avoid meeting unpleasant folks in your life. The facts are many, but they're consistently extended in ways adding interest. In case the question orders you to ignore something, ignore it! You should experiment with various techniques to secure better at reading facts. If you find a word like checkpoint, there's a reason for it. California Bar Essay Writing with Samples and Trainings Help! It's possible to discover extra issue essay prompts here and articulate and create an argument to back up your evaluation of the problem. This $239 value is completely freewith the essay program. To compose an impressive short essay, especially during an examination, you must be in a position to hit the question and offer a straightforward answer while at the very same time observing the proper structure of an essay. All you will need is a really good bar exam essay template! You won't ever feel more prepared for the essay part of the exam. Treating the essay portion like an interview will be able to help you understand that you currently have the skills necessary to be prosperous. Who Else Wants to Learn About California Bar Essay Writing with Samples and Trainings? Bar exam essay outlines are extremely much like the outlines you used to be successful in law school. This book, as well as the MBE training course, contain the law you have to know so as to pass the California Bar Exam. Bear in mind you won't be called on to compose a Torts outline on the bar exam. To start with, by waiting till you have the law memorized you don't observe the context for the law you're trying to learn and you understand less. California is among the most beautiful and popular regions for tourism and global education in the States. That's the issue, Lawrence explained. California evidence law has many facets that impact on the lives of distinct men and women in the society. Applicants should plan to get there 20 or more minutes early to find their assigned sections or rooms. Writing skills aren't god-given talents. The Written Assignments Completion of the Written Assignment permits you a chance to demonstrate a thorough and in depth comprehension of the subject issue. Ensure you have adequate materials to help you get ready for the MBE subjects. This was not merely a common pat down. When you review every one of your answers, keep an eye on your mistakes. Do not let yourself let the strain of the bar exam get the better of you actively push fear and negativity aside you are going to end up retaining a lot more material if you keep up a constructive and hopeful attitude. It is vital to have a condensed and dependable outline for each topic ahead of going into the bar exam. One of the greatest strategies to get ready for the exam is to truly understand the material. It isn't likely to find all the very same subjects, obviously. California Bar Essay Writing with Samples and Trainings Secrets That No One Else Knows About Eventually, you'll need to complete 200 MBEs in 1 day. You are able to reach Vivian 7 days per week, 12 hours per day by email, phone, and videoconference. How many MBEs you ought to do each day will depend upon how long you've got available (whether you working full time, part time or whether you're able to study total time). To start with, do MBEs each and every day. The bar exam isn't all that different. Memorization is obviously an extremely important portion of succeeding on the bar exam. It's a fact that you won't have more than one hour on the exam day. So as your bar exam study procedure gets under way, take the time to get started thinking in the manner of a bar exam grader.

Art as an Embodied Imagination - 22095 Words

ied ImJournal of Consumer Research, Inc. Speaking of Art as Embodied Imagination: A Multisensory Approach to Understanding Aesthetic Experience Author(s): Annamma Joy and John F. Sherry, Jr. Reviewed work(s): Source: Journal of Consumer Research, Vol. 30, No. 2 (September 2003), pp. 259-282 Published by: The University of Chicago Press Stable URL: http://www.jstor.org/stable/10.1086/376802 . Accessed: 22/10/2012 06:18 Your use of the JSTOR archive indicates your acceptance of the Terms Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital†¦show more content†¦New research on consumer experiences also emphasizes the importance of embodiment. Pham et al. (2001), for instance, state that consumer assessments are often based on both feelings and reason and that one or the other becomes more prominent depending on the context. They argue that feelings play a central role in consumer decision making and merit serious investigation, which, for this study, means that intertwining mind and body is crucial for creating an unforgettable consumer experience. The effort afoot to restore embodied realism to social scientiï ¬ c inquiry (Johnson 1999; Lakoff and Johnson 1999) has generated some of the most exciting research into consumer behavior. In this article, we address the links between embodiment and consumer experiences in order to elucidate the contours of the aesthetic experience—not just the process of thinking bodily but how the body affects the logic of our thinking about art. 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