Saturday, December 28, 2019

Homosexuality Is Not A Choice For Adults - 963 Words

Biological Based Homosexuality Over the past few decades, there has been controversy over the topic of homosexuality. Many people believe that there are homosexuals make the choice to be homosexual. On the contrary, several studies show that there are genetic factors that lead individuals toward a homosexual preference. The rights of people who are homosexual are becoming more progressive and are almost equivalent to those who are heterosexual in the United States. Homosexuality is a biological trait, and there is experimental evidence to prove the biological influence of homosexuality. The trait of homosexuality can be simply defined as the sexual attraction between the individuals of the same sex. A homosexual person in the female gender is called ‘lesbian’ while the term ‘gay’ represents a homosexual male (Richardson). As the years have progressed, the number of openly homosexual people has dramatically increased as these trait have gradually grown to be more mainstream and open. One experiment showed that homosexuality is not a choice for adults, rather, you exhibit these behaviors as a child (Jenkins, p. 286). Recently this observation has been replicated through the analysis of childhood videos that have been taken from male and female homosexual and heterosexual research volunteers. The video displayed that children that are Pre-homosexual displayed non-conformity than their pre-heterosexual counterparts, and that this behavior continued through adulthood. PeopleShow MoreRelatedThe Church Does Not Discriminate Against Homosexuals892 Words   |  4 Pagesagainst homosexuals, even though the definition of discriminate is: to make a distinction in the treatment of different groups, especially of race, sex, or orientation. and that is what is being done. Regardless, the church does not agree with homosexuality, and homosexual acts. These are the main reasons why this is so; and why they make no sense. The reasons have all been compiled from official Christ ian clergies, websites, and videos. The first is the fact that it is stated in the Bible as anRead MoreUnnatural Offences : Section 377 Of Ipc Essay1530 Words   |  7 PagesIII. UNNATURAL OFFENCES: SECTION 377 OF IPC ‘Unnatural’ sexual offence is a consensual sexual act between its players, active or passive. Section 377 of IPC prohibits a consensual homosexual act between two adults even if it is done in private. Roots of this section are biblical and based on the principle that sexual activity is for procreation only. Any sexual act, therefore, not fitting that role is considered unnatural and against the order of nature. 3.1 Legislative paradigm Section 377 IPCRead MoreEssay about Causes of Homosexuality - Nature AND Nuture564 Words   |  3 Pagesunderstand why anyone would want to get involved in homosexual activity. There are many arguments about homosexuality whether is by nature or nurture. Before we make judgments on homosexuality, we need to identify the causes of homosexuality. Homosexuality is caused by genetic, biological and environmental factors. The first possible cause of homosexuality is genetic factors. Homosexuality is a trait from birth (Buchanan, 2000). Studies found that identical twins share many common traits. A studyRead MoreUnnatural Offences : Section 377 Of Ipc1530 Words   |  7 Pages III. UNNATURAL OFFENCES: SECTION 377 OF IPC ‘Unnatural’ sexual offence is a consensual sexual act between its players, active or passive. Section 377 of IPC prohibits a consensual homosexual act between two adults even if it is done in private. Roots of this section are biblical and based on the principle that sexual activity is for procreation only. Any sexual act, therefore, not fitting that role is considered unnatural and against the order of nature. 3.1 Legislative paradigm Section 377 IPCRead MoreGay Marriage Speech Essay1461 Words   |  6 Pagesinvolved as a main argument point. Many religious people argue that the marriage is a sacred thing between a man and a woman. C. I believe that gay marriage should be legalized simply because I believe that marriage is something between two consenting adults who love each other, no matter what their gender may be. Last time I checked, marriage was about love, not about gender/ procreation/ money/ or anything else. D. In this country, it seems to me that we are just moving from one form of discriminationRead MoreThe Sexual Identity Of Homosexual People1678 Words   |  7 Pagesmore than love between two humans. As humans, we must come to the realization that we are all equal, and that you are born gay; furthermore, you don’t have a choice. In the past few hundred years homosexuality has been seen as not being a matter of choice. In the 1960’s the term homophobia arose as a term that meant a fear of homosexuality. During this decade, new forms of love and thinking came into play, which also encouraged homosexual people to freely love as well. But when the summer of loveRead MoreIs Homosexuality A Choice?967 Words   |  4 PagesThe question of whether homosexuality is a choice remains a topic in which everyone seems to have an opinion. Whether it is for psychological or religious reasons, some people still think being gay is the worst thing you could be. Newsweek.com states that, â€Å"blaming people for being gay is like blaming them for being left-handed†. They have also stated that the APA has now cleared up on the subject of mental health in an LGBT individual, staying that is â€Å"not a mental illness or disorder with no identifiableRead MoreHomosexuality: Is It A Choice? (Pro)800 Words   |  4 Pages Homosexuality: Is It A Choice? (Pro) The term homosexual originated in 1892, to describe two people of the same gender that were attracted to each other. All though Homosexual behavior between species has been dated back to the beginning of time. Today in the United States based on Population surveys more then eight-million adults alone in the U.S are homosexual. Many people believe that Homosexuality is a scientific, and is no more of a choice then the color of your skin. CrystalRead MoreLady Gaga Released Her Lead Single1700 Words   |  7 Pagesfemale, population identify themselves as gay, lesbian, or bisexual (Sprigg and Dailey Ch.2). Homosexuality is the desire for sexual attraction to people of one’s own gender. Throughout the years, research has been done to â€Å"prove† that people are born homosexuals, but there is no evidence as of now. Many individuals might use being a homosexual as an excuse in their daily lives. Becoming a homosexual is a choice. If an individual was born with a gay gene, t hat means that the parent would have to haveRead MoreHomosexuality From A Biological Perspective1118 Words   |  5 Pages Homosexuality from a Biological Perspective Justice X. Johnson Angelo State University Abstract Homosexuality has been around for centuries, maybe even since the beginning of human existence. Many individuals question why some people are gay and why others are not. Those that question humanity ask what exactly makes a person become attracted to the same sex and whether or not it is nature or nurture. There are three points to argue that homosexuality is natural and not by

Friday, December 20, 2019

Are Women Treated Less Favorably than Men in the...

Over the years, women have faced many obstacles and barriers to overcome discrimination and receive the same opportunities available to the opposite sex. Women have had to fight for their right to vote, obtain a college education, and more recently, equal pay and employment opportunities. Although we have made great strides in narrowing the wage gap, women today have yet to gain the same respect and equal pay as men in the workplace. The Equal Pay Act, also known as the EPA, was passed by Congress in 1963 to provide a remedy to discriminatory wage structures that reflect an ancient but outmoded belief that a man, because of his role in society, should be paid more than a woman†. (Equal Pay Act) â€Å"According to the Bureau of Labor†¦show more content†¦The reason for this mid-career disadvantage is that at some point in her career, a woman must make a choice between work and family. Many times, this choice involves a period of time in which a woman must take time off from work to have children. Furthermore, with the rise in cost of childcare and the fact that many women today still carry the burden of the household responsibilities, some women are choosing to stay home or work part-time rather than going back to work full-time. This career break inevitably creates a gap in wages due to lost experience in the field in comparison to male counterparts that continue to gain experience while the f emale worker stays home to raise a family. To further implicate the consequences of choosing family over a career, should a woman choose to work part-time while raising a family, she will likely face a significant reduction in pay since part-time jobs are usually lower in status and pay lower wages. (Manning) Nonetheless, should a woman remain single and childless, she will still experience a widening wage gap in her late twenties and thirties. This is evident when comparing the percentage of women in management roles versus the percentage of men of the same age group with comparable education and experience that hold management positions. As of 2002, women held only 36.4 percent of management positions in the private sector. (GAO) While the increased number of women in management is aShow MoreRelatedWorkplace Discrimination : Tips For Executives, Managers, And Students1261 Words   |  6 Pages David A. Robinson wrote a short book, Workplace Discrimination: Tips for Executives, Managers, and Students to Increase Productivity and Reduce Litigation, in hopes to help managers and future managers avoid illegal discrimination and avoid discrimination lawsuits. Robinson began with telling about Dr. Martin Luther King Jr.’s â€Å"I have a dream† speech and compared it to the time today to American President Barak Obama. From Dr. Martin Luther King Jr.’s speech to the inauguration of American PresidentRead MoreDiscrimination Is A Big Social Problem893 Words   |  4 PagesDiscrimination remains widespread, types of discrimination exist from gender to workplace. In some cases, people are still treated as second-class citizens, lacking basic rights and suffering violence and many kinds of disadvantages. Discrimination is a big social problem that needs to be addressed. In this memo, our group will clearly define current social issues such as sexual discriminatio n and racial discrimination, deeply analyze these two issues, and provide specific solutions for managersRead MoreCurrent Ethical Issue in Business1476 Words   |  6 Pages It is surprising to see so many discriminating issues within the company. Women working for the company are consistently treated unfairly, yet other issues exist. It is as if Wal-Mart has fallen into the negative economic routine. The company is guilty of everyday social discrimination; gender discrimination is just one main focus of our discussion. The affects of gender discrimination affect how women are treated, their income, and company policies. Women’s Rights have been an ongoingRead MoreWorkplace Discrimination : Discrimination And Discrimination1588 Words   |  7 Pagesand other business surroundings. This tragedy is called workplace discrimination; not every unfair behavior at work, however, can be assessed as discrimination. Discrimination in the workplace happens when an employee experiences unfair treatment due to their race, gender, age, religion, marital status, national origin, disability or veteran status, or other characteristics. Discrimination is one of the largest issues people face in the workplace and it must be dealt with. The U.S. have laws and regulationsRead MoreEmployment Discrimination On The Basis Of Human Resource Management1814 Words   |  8 Pagesrace, gender, religion, national origin, physical or mental disability, and age by employers , which contains two types of illegal discrimination: disparate treatment and disparate impact. Disparate treatment refers to members of an organiz ation are treated in different ways from other members. â€Å"Disparate impact happens when members of a protected category are substantially underrepresented as a result of employment decisions that work to their disadvantage† (Mathis, Jackson Valentino, 2013). DiscriminationRead MoreAffirmative Action And Discrimination Against Women And Minority Groups1386 Words   |  6 Pagesdiscrimination against women and minority groups through measures to improve their economic and educational opportunities. By definition seems to explain affirmative action and to help subsidize for past discrimination. Affirmative action has foremost affects in college admissions and employment. Especially, in employment more qualified women applicants are hired solely in the fact that they are members of a minority group. The Women’s Movement has fought for the equality of women and I intend to showRead MoreKey Women s Issues Of Hr1501 Words   |  7 Pagesequity for women workers. It is not acceptable that women are making 78 cents an hour compared to men,† said democratic candidate Bernie Sanders in a speech to the National Press Club in March of this year. 52 years after the Equal Pay Act was passed, working women in the United States still face a gender pay gap no matter what career they are in and while we have made progress since 1963, recently any improvement on the wage disparity has remained stagnant. Woman have historically been treated unequallyRead MoreThe Impact of Diversity and Demographic Characteristics on Individual Behavior1066 Words   |  5 PagesDiversity in the workplace emphasizes the appreciation of differences and creates an environment in which everyone feels valued and accepted, however it is individual behavior that determines the workplace environment. There are numerous types of diversity and demographic characteristics that impact on individual behavior. Values and attitude differences are a key driver of individual behavior. Values and attitude is how a person sees, relates to and acts in and out of the workplace. Psychologist MiltonRead MoreWomen s Role As A Woman1804 Words   |  8 PagesWomen plays various role throughout their life such as they play a role as a daughter, wife, and mother to someone. Women from centuries been doing so much for others, being a good housewife, raising children, giving birth, working to support their families, etc. Women are the reason that we are here today in this world living. Back in the era woman’s role was to be a housewife, taking care of children and her husband, making sure that everyone else’s needs are being met. Over the time this roleRead MoreGender Discrimination And The Workplace Essay1811 Words   |  8 Pagesperceives as normal tasks for female accountants. More often than not, male accountants are given more demanding tasks in comparison to their female coworkers wh o are equally qualified but handed less strenuous tasks. Currently, there seems to be a gap in the ratio of women to men in positions of authority. This can be a variety of reasons, one being social norms of what is expected of women in the workforce. Women are frequently paid less than men, and the accounting profession is no exception. Female

Thursday, December 12, 2019

Dorm Life Essay Example For Students

Dorm Life Essay Dorm LifeDorm life at Bowling Green State University is like most other colleges. Students that live in the dorms are known to become very close, often walking to classes together, playing sports, and staying up late for all night study sessions. The students that live in the dorms are in some sense, a society. Every person has a responsibility. Sometimes, if any one person does not complete what they are responsible for, the whole society has to pay. There can be many problems in a dorm. Students playing music too loud in their rooms after quiet hours, and not respecting others are examples of problems that only affect one or two people. Problems like leaving the hall a mess and leaving trash in the bathroom are problems that affect the whole dorm. By leaving trash in the hallway or in the bathrooms, the student runs the risk of being fined from the custodial services for having to take out the room trash. These fines are extremely harsh. At one point, a floor would be fined $11 for a custodial worker to have to pick up a pizza box. Other problems include plates, silverware, and trays from the dining hall winding up in the hallway, leaving the bathroom a mess, and vomiting. The whole floor is charged with this fine if the actual culprit isnt found. Durham 2Dorm policy is to fine the students on the floor that the incident occurred on. These fines can become quite excessive, sometimes exceeding $500 per semester. A student cannot receive his or her final grades for the year unless these fines are paid in whole. This brings up the question, Is it right for all the students on the floor to be fined if only one or a few of the residents went against the rules? Should a few bad apples ruin the whole bunch? I think not. I feel that someone should address the problem by holding monthly, if not weekly meetings to inform the students that they need to take their trash out instead of placing it in the bathroom. Students need to be told that trays and all other silverwar e and plates need to be returned to the dining hall. Repetition is the key. If the solution is pounded and pounded into the students heads, then they will begin to obey. A hall director could also keep the students thinking by reminding them how much the floor owes, and what their share is. Constant reminders will deter the students from breaking the rules. Another, the idea of Terri Capellman, graduate hall director of Compton Hall in the Kreischer Quad at BGSU, is to install cameras to catch the violators in the act. The sight of a camera watching the hallway would be enough to prevent trash being left in the hallway, potential acts of vandalism and theft. Either of these two potential solutions would work, but have we confronted the real question? Who should pay for all the damage that occurs in the residence halls?If there is an emergency after the hour of 12 a.m. to 8 a.m. on a Thursday, Friday, Saturday, or Sunday night, then an Emergency Maintenance custodian has to come and Durham 3fix the problem. This person is of course paid for their overtime. An emergency maintenance custodian can be called in at any time of the night. If an emergency maintenance custodian is needed, then they are paid for 4 hours of regular time, no matter how long they stay there. The starting wage for a full time custodian is $9.93/hour. (Payroll Office Statistic) This means that the custodian was paid at least $39.72 to come in and clean up something that could have taken ten minutes to clean up such as broken glass. The students on the violating floor are charged for this salary. The custodians may say that the wages they are given for coming in at unacceptable hours of the night are legit. They seem extreme to me. I think that the custodians should of course be paid extra for coming in at such late hours, but maybe not as much as is said. A reasonable wage for an emergency maintenance custodian is $30. Keep in mind that the $9.93 is a starting wage, and since we are at a sta te funded university, those wages get raised in no time. A good pay for an emergency maintenance custodian would be $19.86/hour. This is double what they make during the day and there is no additional cost for time that is not spent on working. A solution to the whole emergency maintenance deal is to have one of the night guards or an on duty resident advisor clean up the mess. There are always three night guards on duty from the hours of 12 a.m. to 4 a.m. The job of these people is to check in residents coming in after the hour of midnight. Does the front desk really need 3 people doing the work of two? Durham 4An on duty RA that has nothing to do could also be a possible solution for the cleanup. On most nights the on duty RA has nothing to do, but they are being paid for doing it. Put them to work. Trash and trays left in the hallway are not the only things that a custodian might have to clean up. As you may know, drinking is quite common among college students. If a resident wer e to puke due to the consumption of too much alcohol after the hour of 12 a.m. then once again the emergency maintenance custodian would have to be called once again. .ub7ceff3fcdcfd347ba9c99f85bbdf1fe , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .postImageUrl , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .centered-text-area { min-height: 80px; position: relative; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:hover , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:visited , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:active { border:0!important; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .clearfix:after { content: ""; display: table; clear: both; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:active , .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .centered-text-area { width: 100%; position: relative ; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:hover .ctaButton { background-color: #34495E!important; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe .ub7ceff3fcdcfd347ba9c99f85bbdf1fe-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub7ceff3fcdcfd347ba9c99f85bbdf1fe:after { content: ""; display: block; clear: both; } READ: Animal Cruelty And Family Violence Essay All of these violations do not make hall directors happy. They are the ones that control the budgets of the residence halls. If too much money is being spent in one area of the dorm, then the students have to pay. If there is a complaint of trash or trays in one of the bathrooms, then the students have to pay. Why should all the residents have to pay for something that one person did? According to the BGSU student handbook, the policy is this way because the students are the ones that know who is committing all these violations. When the students see others committing a violation of the rules, they should take action by telling the person politely that the fine for what he or she is doing will be assessed to the whole floor. If the violator is outnumbered, he or she might feel pressured to obey the wishes of his or her peers. In conclusion, it should be shown that the individual student should not be fined for something that one of their peers did. I have given a few solutions of how to cut costs for the residence halls so the students do not have to be fined as much. I understand that someone has to pay for the damage that is made but I also think that it should be the person or persons that commit the crime. I am a college student and my floor has already accumulated well over $2000 dollars so far this school year. I feel that it is not fair that I have to pay for something that I didnt do. Pop cans, Styrofoam cups and trays make the dorm look like a junkyard. The ultimate thing that needs to happen is the students need to take responsibility for their own actions.

Wednesday, December 4, 2019

Evolution of Dance free essay sample

Dancing is an art. It is a creative way for people to express their feelings through movements and rhythm. From the 1 9th century to the 21 SST, dancing has evolved from the traditional modern dancing featuring the waltz, to urban dancing including all pop, hip-hop, and freestyle dancing. During the twentieth century in America, dance became the main type of entertainment. Dance has been used to help keep many Americans gleeful during the country crises, economically and technologically. To express their reactions to these changes, Americans danced.As the society changed ruing the decades, so did the type of dance, creating new forms of entertainment that are now a part of our American history. 18th 19th Century The Waltz Intro: In the eighteenth and nineteenth centuries, dance became a gathering for purposeful social activity; elaborating private parties offered a means for a gentleman to seek his wife and allowed friends and family to share the new trends in music and dance. We will write a custom essay sample on Evolution of Dance or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In a political sphere, a ball provided a setting for politicians to exhibit their wealth and standing by their knowledge of the most fashionable dances.Dance/Holocaust description: What became a classic modern ballroom dance was known as, the Waltz. It Is a simple step, but It does require you to be on the balls of your feet most of the time, which can be quite hard on the knees. The dance Is done to a waltz beat, which is a, one-two-three step. The dance style created during these early years created changes that were referred to as ;social dancing. Clothing: Concerning the colors of dress, ladies were advised to choose colors that would best complement their features.Fair blondes were best suited to soft and delicate colors while brunettes draped themselves In rich and vibrant colors. Gentlemans clothing changed little over time. Simplicity was key- a black dress coat, black breeches or trousers, and black or white vest made up the gentlemans ballroom, uniform. As well as the ladies, men were encouraged to keep all Jewelry at a minimum and dress accordingly to their features. 20th century SW;Eng sass to ass Intro: Influenced by Jazz, the swing originated wealth the African-American culture of the time and soon spread throughout the US as popular music began to follow the direction of jazz.Swing was one of the great unions that tied everyone together at a time of segregation in the US. It had also worked in the same way during the war period, as dances like the Jitterbug and Jive were taught to the European masses by the U. S. Troops stationed in Europe. Dancing to the music of Jazz, and creating popular moves such as the Charleston and the Lindy Hop. The Lindy Hop was big within the dance and was starting to slowly spread across the United States from its origin at the Savoy Ballroom in Harlem New York.Rock and Roll sass to ass Intro: After the Swing Era and World War II, American social dancing cooled down in the late sass. The shift from dance bands to concerts in nightclubs was due to several factors. Musician union fees made big bands unaffordable, the cool down of jazz, and a generation of post-war veterans with the new priority of settling down and raising a family. But the youngsters still wanted to dance. This was the shift. Description: Throughout the US, the young generation took the lead in the, development of new dances in the sass. Rock dances were generally adapted from dance styles mentioned earlier; the lindy hop and the Jitterbug served as a basis for many of the fast dances. While dancing was developing, technology was also changing. With the arrival of the Jukebox in 1951, which brought popular music to the ears and clubs that didnt have live bands, made rock and roll become popular, as one song would spread at a rapid pace throughout many followers. The Spread: Some teens sought out African American sources for new steps and styles.The mass communication via television also meant that these dance steps could spread themselves with more speed thanks to their advertising within programming. This also allowed people who opposed the dance such as churchmen, to preach their believes on their negative outcomes for its rebellious and provocative culture. One famous example we probably all know is The Twist, which inspired a raft f new dances amongst young people as well as dances known as the Funky Chicken and the Monkey. DISCO sass The disco was an era that began in the mid-sass, encouraging a whole generation to dance and party.It was a new dance style created in the West for entertainment and a wild new type of dance, that was considered exciting and fun. It became very popular in movies and nightclubs. John Travois was the spotlight for starting this disco dance, from his role in the movie Saturday Night Fever. The original disco subculture was a fusion of the gay urban party scene, partnered Nanning which was kept alive by Latinists, and African American music. Many other populations of Americans were also attracted to the Discos. This particular dance was focused on groovy soft rock and upbeat electronic music. Although disco lasted only a decade, it initiated several traditions that are still with us today, most noticeably in dance and dance music. An example, while rock music in the sass was becoming a sit-down experience, with the stars up on the stage lights and the audience listening below, the disco reversed this by putting the audience in interest a person would have over a song by appealing more to the rhythm and beat ether than the lyrics. Today we known of them as trance, electro, and house music along with the other electronic beats that continue the disco diva tradition. Urban Dance,- sass sass Hip-Hop culture originated in New York amongst young Hispanic and African American people. The style encompasses the movements of break-dancing and body popping. The sasss saw the emergence of a new style of hip hop into rap videos, distinguished from original break dancing styles by its concentration on footwork as opposed to acrobatics. As pop and hip-hop music became more influential, so did he dancing styles that grew up with them, and so dances such as The Moonwalk, the worm, Hop, Cabbage-patch, and Running-Man burst into the scene. By the sass, urban dancing was officially created, which is a type of street dance that became very popular in America. Several bands used this dance style along with hip hop in their choreography. People wanted to create their own style and be known as individuals. They were coming up with their own hidden dance choreography, creating steps, styles, and fashion that several people wanted to learn which was known as freestyle. Conclusion For once, America was able to spread their new dance culture with the world.In the twentieth century the American society, went through many changes. There appeared to be a crisis in almost every decade. People found ways to express their feelings about each crisis through dance which came from all over the world. The style of dance changed every time the society itself went through a change, whether it was because of war or simple social rules. When the new millennium occurred people brought with them not only the style from the sass, but one hundred years worth of dance, ready to pass on the styles to the generations to come.

Thursday, November 28, 2019

Psychology of Implicit Attitudes

Introduction An implicit attitude refers to the hidden attitude that an individual may have towards something. It has been observed that most people have implicit attitudes towards people with disabilities.Advertising We will write a custom essay sample on Psychology of Implicit Attitudes specifically for you for only $16.05 $11/page Learn More Implicit attitudes Discrimination of people with physical, emotional, social, and mental disabilities has mostly been as a result of the hidden cultural and social beliefs that given people might have against people with disabilities. Most people have been socialized to believe that people with disabilities are unable to function as full members of the society. Discrimination against people with disabilities is therefore a result of the implicit attitudes by certain people in the society. The Implicit Associated Test (IAT) has been used to measure the hidden beliefs of individuals towards people with disabilities. The test is computer based. The test enables one to measure attitudes that are not consciously acknowledged and thus prevents false reporting of the attitudes related to social desirability. The Implicit Associated Test that has been administered in certain communities is as shown below: â€Å"Strongly prefers able persons to disabled persons.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Moderately prefers able persons to disabled persons. Little preference towards able and disabled persons. Slightly prefers disabled persons to able persons. Moderately prefers disabled to able persons. Strongly prefers disabled to able persons†. The responses generated from the Implicit Associated Test are meant to enable the individuals to be aware of the implicit attitudes they show towards people with disabilities. In addition, the responses enable individuals to be sensitized about the nature of implicit attitudes that able people have towards people with disabilities. Awareness, sensitization, and mobilization enhance capacity building on how to reduce the biasness that certain people have against people with disabilities.Advertising We will write a custom essay sample on Psychology of Implicit Attitudes specifically for you for only $16.05 $11/page Learn More It is recommended that biasness against people with disabilities should be avoided by all at all costs. This is because biasness against people with disabilities reduces equity and equality in issues of resource distribution and national development. To avoid biasness against people with disabilities, individuals should extend social interaction with people with disabilities in all contexts like at school, work place, at home or in the church. This essay on Psychology of Implicit Attitudes was written and submitted by user Mikayla Cline to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Sunday, November 24, 2019

Free Essays on Consumer Buying Behavior

Characteristics of Consumer Buying Behavior When it comes to consumer buying behavior, consumer’s purchase for a couple of reasons. Usually final consumers purchase for personal, family, or household use. I think we first need to understand what consumer buying behavior actually is though. Consuming buying behavior is easily defined as the decision processes and acts of final household consumers associated with evaluating, buying, consuming, and discarding products for personal consumption. We could look at an example of purchasing an automobile to illustrate my point. When it comes to buying a car, you generally will not consider different options until some event triggers a need, such as a problem needing potentially expensive repair. Once this need has put you out in the market, you begin to ask your friends for recommendations regarding dealerships and car models; at least this is what I do. After visiting several dealerships, you test drive several models and finally decide on a particular model. After picking up your new car, you have doubts on the way home, wondering if you can afford the monthly payments, but then begin to wonder if instead you should have purchased a more expensive but potentially more reliable model. Over the next five years, the car has several unexpected breakdowns that lead you to want to purchase a different brand, but you have been very happy with the services of the local dealership and decide to again purchase your next car there. In this particular case, the following model of consumer decision making appears to hold the following characteristics of buying behavior: need recognition, information search, evaluation of alternatives, purchase decision, and post purchase behavior. To start, there are many group influences on consumer buying behavior. First, there is culture. Culture is basically the set of basic values, beliefs, norms, and associated behaviors that are learned by a mem... Free Essays on Consumer Buying Behavior Free Essays on Consumer Buying Behavior Characteristics of Consumer Buying Behavior When it comes to consumer buying behavior, consumer’s purchase for a couple of reasons. Usually final consumers purchase for personal, family, or household use. I think we first need to understand what consumer buying behavior actually is though. Consuming buying behavior is easily defined as the decision processes and acts of final household consumers associated with evaluating, buying, consuming, and discarding products for personal consumption. We could look at an example of purchasing an automobile to illustrate my point. When it comes to buying a car, you generally will not consider different options until some event triggers a need, such as a problem needing potentially expensive repair. Once this need has put you out in the market, you begin to ask your friends for recommendations regarding dealerships and car models; at least this is what I do. After visiting several dealerships, you test drive several models and finally decide on a particular model. After picking up your new car, you have doubts on the way home, wondering if you can afford the monthly payments, but then begin to wonder if instead you should have purchased a more expensive but potentially more reliable model. Over the next five years, the car has several unexpected breakdowns that lead you to want to purchase a different brand, but you have been very happy with the services of the local dealership and decide to again purchase your next car there. In this particular case, the following model of consumer decision making appears to hold the following characteristics of buying behavior: need recognition, information search, evaluation of alternatives, purchase decision, and post purchase behavior. To start, there are many group influences on consumer buying behavior. First, there is culture. Culture is basically the set of basic values, beliefs, norms, and associated behaviors that are learned by a mem...

Thursday, November 21, 2019

STARBUCKS Term Paper Example | Topics and Well Written Essays - 1500 words

STARBUCKS - Term Paper Example This will allow the licensor firm to collect a royalty fee from the licensee. This can be of great benefit to a licensor that has limited capital to enable it engage in full operations in the foreign nation. A major disadvantage though is the fact that this mode gives the firm much less tight and central control over the foreign operations. This entry mode is almost similar to licensing. The franchisee obtains the main business know-how through an agreement with the franchiser by paying a royalty fee. This know-how also includes patents and trademarks. The main difference when compared to licensing is that franchisee operates under certain rules dictated by the franchiser. This is mainly so as to maintain its reputation and standards. This is very common in the service industry. The main advantage with this is that the firm can efficiently explore this new market with minimal development costs and risks. The disadvantage is that the franchisee will have to abide by strict rules set by the franchiser. This is not always possible and the franchisor may have its reputation tarnished if the franchisee does not maintain the high standards. This is a very common entry mode that is used all over the globe. It can be explained by having two or more firms forming an alliance that will put them in a better position to penetrate the new international market. These are often based on a 50/50 type of agreement. This operation is always separate from both companies. There are situations whereby one of the firms invests more than the other leading to more shares in the Joint venture hence handing it a controlling stake. The advantages of this method of foreign market entry are;- This mode in simple terms means that the company owns all the shares in the overseas firm/entity. There are two main means of establishing such kinds of subsidiaries: Greenfield venture and

Wednesday, November 20, 2019

Faculty of Business Environment and Society Essay - 7

Faculty of Business Environment and Society - Essay Example From this discussion stresses that  workforce engagement is referred to the concept which has become more and more mainstreamed into the management thought. It is observed as an inner state of being i.e. both emotional and mental, and physical; which brings together previous notions of organisational commitment, work effort, and job satisfaction. The definition of workforce/employee engagement gives three scopes to the workforce engagement: intellectual engagement, social engagement, and affective engagement.This study outlines that  managers of human resource department can promote the employees’ engagement within their own company or elsewhere by involving in different practices. Competent and passionate leadership is vital to workforce engagement. Showing an authentic interest in the employees as well as investing time to understand the aspirations and needs of workforce will help them to realise that their contribution in the firm is valued. Engaged workforce should be provided with the opportunity to effectively use their talents and should also be encouraged to expand those skills and talents to show their progress in the company. Managers should involve the workforce in discussions in order to help them to realise that their suggestions are valued and taken by the top management.  The companies should adopt people-focused customs/culture in their operations as employees are the biggest asset of the company.

Sunday, November 17, 2019

Mill's Ethics Essay Example | Topics and Well Written Essays - 1000 words

Mill's Ethics - Essay Example She knew, however, just then that it was all wrong for Nick is a married man with two children and Mary is his wife of five years at that point in time. Now, since Chloe is a common link who happens to have witnessed scenarios on both sides and believes to have firsthand knowledge of the moral conflict, she eventually finds herself in a dilemma of choosing which between the two parties ought to be dealt with first. By the established norm, of course, she must opt to stop Jane from proceeding to fall into an adulterous relationship with Nick for the sake of Mary’s family, being the man’s original legal attachment. Nevertheless, in doing so, she would have caused Jane severe pain out of an emotional struggle which she is known to be weak in coping especially when she seems to have put forth in reasoning that her current state of affair was obtained with huge sacrifices that her happiness, as the chief consequence thereof, may not or should not be taken away from her at al l cost. Apparently, Chloe figures the validity of Jane’s argument upon pondering on some relevant aspects of John Stuart Mill’s ethics on utilitarianism, yet reserves an equivalent degree of doubt and philosophical analysis in favor of Mary. By the simple defining principle of utilitarianism in which the consequence is set to determine the moral value of an action or deed, Stuart Mill emerges to draw on a favored unique perspective where such theory ought to be acknowledged in the light of understanding that â€Å"actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness (Mill, Ch. 2).† Equivalently, this is to mean that as long as an act or behavior causes one or many to be happy, then it is to be judged as morally right. One way of gaining discernment of this proposition is by asking ‘is happiness then a measure of justice?’ To what extent should happiness shape the view of morality a s good and scrupulous if there are people like Jane whose case is quite special? What if one’s doings of something make the individual happy yet the ones beyond his or her circle are rather annoyed or hurt as in the probable effect which Jane and Nick’s immoral quest would bear upon Mary? Surely Jane deserves to be happy and possesses the right to act accordingly but how can actions by which happiness is experienced be evaluated as truly ethically conforming if someone else out there as Mary is otherwise bound to be unhappy? Or must a specific area be defined within which only a certain set of actions with all the corresponding outcomes can be permitted to undergo moral justifications? At this stage, Chloe could be found to comprehend Jane on account of Mill’s claim that what promotes happiness at least for Jane’s part should be right but it would similarly suspend her judgment for Mary’s welfare since Jane’s consent of the illegal matter ad vances not in any way the happiness or interest of Mary. While their situation may be felt to require a greater level of moral concern, Mill’s philosophy appears to consist of a pattern or direction where the kind of ‘happiness’ being referred to equates to ‘pleasure’, and this pleasure comes in different forms, quality, and quantity. In this regard, the political economist seems to have chiefly adhered to ‘pleasure’

Friday, November 15, 2019

Analysis of Financial Proposal

Analysis of Financial Proposal (1) analyse financial data; evaluate the results and formulate conclusions (2) prepare a budget and explain how it would be negotiated and monitored. (3) produce a financial proposal and present a sound business case to secure the  required financial resources. The figures can be fictitious. Part 1) Technique used: Ratio Analysis Refer to the Appendix Profitability Ratios These ratios help us to judge how good the firm’s profit performance is. The two key ratios to show profitability are: Return on Capital Employed This measures the level of profit of the business compared to the amount of capital that has been invested in it. It is effectively the return the business has made, and investors will want this to be higher than the rate of interest they could have got elsewhere. The budget is showing a healthy 68% return on capital which includes proposed bank borrowings. Profit Margin This measures the level of profit compared to the turnover, it therefore shows the percentage profit on the sales. It can be measured as either a gross or net profit margin. The Gross Profit margin is 66.5% but the Net Profit margin is only 11.3% due to high wages and purchases costs. These could be reduced by bulk buying and negotiating special terms. Liquidity Ratios These are ratios that measure the liquidity of the business. Business has to ensure that they are able to meet their commitments as when they fall due by converting sufficient assets into cash. A business should avoid a situation where a lot of cash or capital is tied up in high levels of stock. Current asset and Acid Test ratio shows that the business has more than enough assets to cover its liabilities and it is very liquid as the stock and debtors can be turned into cash quickly. Current Ratios This ratio compares the current assets and current liabilities. Clearly a business needs to have more current assets than liabilities, and so at a minimum the figure should be more than 1. Here it is 1.54 which is slightly higher and thus ensures sufficient liquidity. Acid Test Ratios This ratio takes a closer look at the business’s liquidity. One of the current assets is stock, and this clearly not always easy to turn into cash. In fact the firm may have high stock levels because they can’t sell all of it. So the acid test ratio takes the current assets and subtracts the stock. This is a test of immediate solvency. If the value of this ratio is much less than 1 the business may have a liquidity problem, as it may have insufficient assets to meet all its liabilities. Debtors and Creditors Payment period The debtors payment period shows how many days it takes on average for the debtors to pay back the owed money. The creditor payment period shows how many days it takes on average for the business to pay its creditors. Ideally the debtor period should be shorter than the creditor period for better efficiency. Here this is not the case and steps should be taken to chase the debtors to pay quickly. Gearing Ratio This concerns the business’ long-term financial stability. It measures how much of the business is financed by debt. The higher the gearing percentage, the less secure it will be. Normal figure is 50%. Part 2) It is imperative that for any business to trade effectively and be able to grow, it needs to build up enough cash reserves. Therefore it is important to ensure cash movements, that is the timing of cash inflow and cash outflow, are managed in such a way that it results in an overall positive cashflow position. The budget would be negotiated on the basis of forecasted sales revenue, expected expenditure and any planned capital expenditure. The Bank manager needs to be pursuaded that the cash forecast is realistic and not over optimistic. The budget would be monitored and reviewed on a regular basis and any material changes would be acted on. The negotiations would be based upon the fact such as reliability of the customer and suppliers, location of the pub. Also the fact that being a public house, the business is all year round and not seasonal and there are going to be peak seasons such as Christmas and other public holdiays. In addition, the pub would increase its takings by having special events and offers. The budget should build a contingency fund for worst case scenario such as cost over-runs or loss of loyalty of its customers. It needs to show clearly that the owner has invested his/her money as a capital in the business and prepared to risk it, and has a strong track record in this field and that the business plan is credible. A bank always demands a copy of current management accounts with a cash flow forecast in order to assess a business’s liquidity and then decides whether to grant the overdraft facility or not. Therefore, they are of utmost importance when negotiating a loan from a bank. Cash budget gives an advance warning of any liquidity problems. It is often a lack of cash that causes most businesses to fail. It will give you an opportunity to decide when and how to increase or decrease your overdraft with the bank. Part 3) The total amount required is  £50,000 but the business does not need to draw down all of the money at once. It should be stressed to the bank manager that you have number of years’ experience in the same business and you know the trade well. Also you have good interpersonal skills and the ability to get on with all types of people This is important for running a successful pub. You also have to stress that you have done your home work, prepared a business plan and have ideas to boost the business by holding special events throughout the year. You need to do some research about the market for a pub in that area. If there are only one or two pubs in the local area and nothing within, say 15 mile radius, then an additional pub in that area is going to stand a very good chance of success. Appendix The following table shows the ratios for the year 2005: Ratio Profitability ROCE68% Gross Profit Margin66.5% Net Profit 11.3% Direct Wages20% Debtor payment days28 days Current Ratio1.54:1 Acid Test1.1:1 Gearing52% Bibliography 1. www.qck.com/business-loans.html 2. Cox, 0 and Farndon, M (1997) Management of Finance (2nd Edition) Worcester: Osborne Books. 3. Dyson, J (1998) Accounting for Non-Accounting Students London: Pitman 4. Http://www/bized.ac.uk Learning resources contain summary notes on main topics. 5. Management and Cost Accounting, 4th Edition, by Colin Drury, Thomson Business Press. 6. Active Accounting by Brammer, Cox, Fardon, Penning. Osborne books.

Wednesday, November 13, 2019

The Effects of the Holocaust on Individual and Society Essay -- Essays

The Effects of the Holocaust on Individual and Society "What the world learned from the Holocaust is that you can kill six million Jews and no one will care."1 The Holocaust occurred because society neglected the individual, allowing six million Jews to be killed before the rest of the world intervened. In the aftermath of the Holocaust, society had to come to terms with the changing needs of the individual, especially the Jewish individual. The effects of the Holocaust caused the Jews to re-identify themselves and develop their loyalty to the Jewish race. Society had to overcome the initial view of the Jews as "the other" and learn to accept them and other minorities. Society also had to implement methods by which to prevent possible future mass genocide. The Holocaust left lasting effects on the relationship between the individual and society, resulting in a greater responsibility of the society for the individual. In the aftermath of the Holocaust, it is the responsibility of society to understand the loss experienced by the Jews to help prevent mass genocide. While the idea of six million Jews killed in the Holocaust may seem like a lot, it is still just an abstract number to those not concerned with the Holocaust directly. What society needs to understand is that the six million is someone’s mother, son, grandparent, or friend. Those who survived the Holocaust must live with this trauma everyday; for them, it is not just a historic event.2 Innocent Jews were persecuted, tortured, and murdered for their faith and only for their faith. The unimaginable actually happened to them. Once society can understand the loss felt by the Jews, it can learn how to prevent the Holocaust from happening again. The Holoc... ... 8. Rappaport, 96 9. Hass, 91 10. Gur-Ze’ev, 161-177 11. Hass, 40. 12. Hass, 183 13. Andrew Nagorski, "A Strange Affair," Newsweek, 15 June 1998, 36-38. 14. Daniel Jonah Goldhagen, "Europe’s Success Story," Newsweek, 15 June 1998, 38. 15. Hass, 193. 16. Rappaport, 47. Bibliography - Goldhagen, Daniel Jonah. "Europe’s Success Story." Newsweek, 15 June 1998, 38. - Gur-Ze’ev, Ilan. "The Morality of acknowledging/not acknowledging the other’s Holocaust/genocide." Journal of Moral Education, June 1998, 161-177. - Hass, Aaron. The Aftermath. New York: Cambridge University Press, 1995. - Nagorski, Andrew. "A Strange Affair." Newsweek, 15 June 1998, 36-38. - Rappaport, Lynn. Jews in Germany after the Holocaust: Memory, identity and Jewish- German relations. Cambridge: Cambridge University Press, 1997.

Sunday, November 10, 2019

Customer Segmentation Study for Brazil Market Essay

Early childhood from 0-6 years is under the responsibility of the municipalities , and primary education between sates and municipalities. We could aim our main targets (children) between the age of 6- 25 in schools, colleges, etc. We could promote our innocent smoothy drinks at schools and other places for cheap prices or of no price at all at the beginning when our business would need recognition. We could have different flavours with different kinds of fruits to attract children and make it a more healthier drink for them and as acai berry is high in nutritional value and it contains vitamin a, vitamin e, iron, calcium,etc which is required for a growing The acai berries are found from a palm that has a long thin trunk unto 25m high with a group of branches at the top from which hangs ribbon like leaves. It has a life span of 24 hours (the properties in the juice are active till 24 hours only), so they should be loaded into baskets and onto the boats by the west part of Brazil, Belem’s market. Then they can be crushed and mixed in smoothies, juices, ice creams, etc. Consumers and distributors across the world have recognised the health benefits of Acai juice and sales have confirmed this trend. Acai is taken in liquid juice form. It is safe to say that Acai juice that is cold processed and not dried out will be a superior product over the rest. Another thing to watch for are the ingredient lists on these products. Many companies are producing Acai juice with 20% or less of the actual Acai juice. The remainder is filled with water, sugar, preservatives and other cheaper juices. With the Acai’s great anti-inflammatory properties, adding sugar (and effectively cancelling out Acai juice’s benefits) simply doesn’t make sense. However to the credit of some companies there are juices available that are 80% to 85% Acai juice. 100% Acai juice can seem too strong in taste to many people. Naturally the Acai berry is not sweet. When the pulp of many berries is blended it is easy to see the oils that come to the surface.

Friday, November 8, 2019

A Homegrown Writing Retreat

A Homegrown Writing Retreat Ah, the writers retreat! A four-star hotel with room service, or maybe just an idyllic cabin in the woods, with meals delivered on tippy-toe so as not to disturb the Muse. What you couldnt get done in such an environment – provided you can afford the fees and travel costs, and make it past the waiting list. If you cant, dont despair. For the last six years my writers group has held three or four retreats a year: spring, summer, fall and sometimes also winter. Its simple, inexpensive, and very, very effective. Most of us who attend the retreats write daily, and professionally. The retreats allow us to kick-start a new project or make major progress on an existing one. Heres what you need for your own retreat: ==At least three writers committed to showing up all three days. Four, five or six reduces the work per person. More than that would probably be unwieldy. ==A space big enough for everyone to write in, with facilities for meals. Ours is the living room in the home of two of our writers. You might also be able to use a church hall or some other community space that has a kitchen. ==A meal plan. Ours is done a week ahead so everyone knows what meals theyll be responsible for. Meals are scheduled: breakfast 8 a.m., lunch 1 p.m., supper 6 p.m. Theyre also simple, and as much as possible, made ahead. The person responsible for the next meal cleans up from the last one, which means you know where you put the cheese grater or the big spoon. We try to keep breakfast and lunch self-serve, and gather for conversation and readings at dinner. ==A project, and whatever research materials, notes or so on you require, plus your writing tools of choice. We list food sensitivities and dislikes on the meal plan. We also ban television, movies, radio, phone calls and music except with headphones. Visitors are discouraged, and any conversation has to be away from the writing area. Alcohol comes out only in moderation with dinner, where we read aloud from the days work and cheer each other on. Three of us are hard-core and attend every day of every retreat. Three or four others regularly show up for a day or two (with a meal and cleanup). The work is minimal – at worst, one meal and one cleanup per day. Its not unusual to have a day on which youre not responsible for any kitchen work. As for cost, I live fifteen miles from the retreat location and usually do two meals and provide some snacks (fruit, nuts or biscotti, plus dark chocolate). My total costs for the weekend are $60-$80 in gas and food. If my friends guest room is available, its less than that. Results? They can be amazing. I regularly get two weeks worth of writing done in three days. Ive polished a manuscript for publication, written 80 percent of a non-fiction book and ploughed through more pages than I can remember. My colleagues have had similar results. While its my daily writing practice that keeps me productive and sharp, the retreats help me remember that there are others out there sharing this creative life. I come out of a retreat refreshed and re- committed. The camaraderie eases the usual loneliness of the writers work, the feedback warms the heart. And the production doesnt hurt, either.

Wednesday, November 6, 2019

The Values of the Shawshank Redemption Essay Example

The Values of the Shawshank Redemption Essay Example The Values of the Shawshank Redemption Paper The Values of the Shawshank Redemption Paper Essay Topic: The Shawshank Redemption The Shawano Redemption is about a banker, Andy Defense who is wrongly convicted of murdering his wife and his lover, Is sentenced to Shawano Prison for two life sentences. As time passes, Andy becomes friends with Red and other Inmates. Andy brings the guards and other prisoners on his side when he helps them with tax problems. Over the years, he gains reputation and is more respected. More significantly, he never drops hope which makes him wanting to be free. In the end, Andy escapes prison by breaking through the prison wall by using a rock emmer which Red smuggled. The film is narrated by Red because Morgan Freeman (Red) has an incredible smooth voice that makes anything sound nice. Things Fall Apart is a novel about a man called Awoken who is a leader and warrior of his village, one of the Nine Villages and has a high level of respect. He was three wives with many children. Awoken does not show his true feelings as he considers this as not masculine. HIS village is very cultural; It Is very strong in its traditions, gods and beliefs. Awoken breaks one of their beliefs, and Is forced to leave the illegal. Then the missionaries and the white men come In the village and try to brainwash them with Christianity. The use of African terms such as chi Indicates a more strong sense of tradition. Through the two texts, Red and Awoken both show examples of respect. Red does not care about the amount of prison work he does and he helps other peoples wants and needs. Awoken respects his villages beliefs, religion, customs and heritage. When the missionary wanted him to convert to Christianity he refused and rebelled. In life, people often follow the rules, regulations and traditions of their local community because that Is what they know within their knowledge. People would not want to shatter the tradition because they dont want to create chaos In the community. In Things Fall Apart, Awoken respectfully obeys the villages beliefs, religion and customs. When Awoken kills his son, he is told to that his family must De put Into exile Ana must erelong special Items to ten g sees. Nils snows respect towards his own (and the villages) belief. In the film, The Shawano Redemption, Red is a hard worker and respects the prison guards. He will obey anything they say and do anything they say. He gives advice to others and silently keeps out of trouble. The other value is hope. In The Shawano Redemption, Andy believes that hope gives a sense of freedom. This is because he knows he is innocent. As he gets used to the prison, Andy thinks he is so free that puts Mozart on the PA system. This is hope gone too far. Later on, Andy put in enough effort and determination to plan a successful escape. In Things Fall Apart, Awoken gains hope when things start to get out of hand. He also hopes to generate wealth from the yams. However, he is not capable of change because he has always been the same person. When Awoken is protesting against the new religion, no one was on his side so his only choice was to kill himself by hanging. The values I have researched has affected my personal values and attitudes by releasing the harshness in a prison or being forced to be taught a religion can be negated with the right determination by believing in your values.

Sunday, November 3, 2019

Gender Disparities in the Workplace Research Paper

Gender Disparities in the Workplace - Research Paper Example Even so, it is recognized that notable disparities still exist. This essay examines these workplace gender disparities through a consideration of overarching elements, culture, education, opportunities, and legislative procedures. A broad array of research has examined gender disparities in the workplace. A great degree of focus has been centered on inequalities, and indeed men are still recognized as making higher annual salaries and more consistently holding upper level management positions than women. Still, an equally strong amount of research has considered the disparities that exist as a result of socialization. In this context of understanding theorists have argued that from an early age men and women experience disparities in social interaction, as men view themselves in a hierarchical social order, while women view themselves in a network of connections where the primary goal is to establish intimacy and avoid isolation (Hahn). One recognizes that such differences come to pr ominently play out in workplace scenarios, as these differing forms of acculturation challenge managerial styles and workplace interactions. To a degree these disparities can be linked to the inequality and largely patriarchal workplace order that has emerged. Such inequality has resulted in significant pressures for change, with government, women’s rights groups and activists promoting measures that would encourage more workplace equality. Another prominent consideration in gender disparity is differences in workplace culture. Within this spectrum of understanding specific differences exist among the types of jobs that men and women traditionally work. For instance, women have traditionally been relegated to careers as childcare providers, secretaries, nurses, librarians, and teachers. In addition to divergences in the types of jobs that are traditionally held by men and women there are differences in dress code expectations. While dress formality remains contingent on the s pecific environment, men are generally expected to dress in shirts with ties; conversely, women are expected to wear blouses, dresses, or skirts. There also exist notable salary differences between men and women. One recent study revealed that women in IT related fields received an average of $25.08 per hour while men received $29.66 for the same job (Vermeulen). Another study revealed that female secretaries earn just 83.4% as much as male ones, and female truck drivers 76.5% as much (Fitzpatrick). Education regarding workplace gender disparity is another major factor. A major concern in recent years has been sexual harassment. The challenge with sexual harassment has been successfully distinguishing the term from accepted modes of social interaction. Legally sexual harassment is prohibited in the workplace, but it is recognized that significant amounts of harassment still occurs. A major difficulty in eliminating sexual harassment is workplace culture wherein individuals are afrai d to report the harassment out of fear of losing their jobs. The first workplace sexual harassment lawsuit was filed in 1974 with Barnes v. Train (Devey). However, in the 1976 case, Williams vs. Saxbe, the term sexual harassment was first used (Devey). While workplace gender inequality must be countered internally, it is also important that changes occur in the political apparatus. In these regards, the 20th century has experienced significant progress. The first woman elected to political office was

Friday, November 1, 2019

The Debate between the Principal-Agent Model and Organisational Essay

The Debate between the Principal-Agent Model and Organisational Culture Theory - Essay Example As the paper outlines  the principal-agent (PA) theory describes linkages entrenched in intricate delegation chains that influence the capacity of the international organisation leader to strive toward their own goals. Theorists mostly view the member states as the ‘principals’ and the international organisation as the ‘agent’. The PA theory can also go deeper the delegation chain to look at the principal-agent ties within international organisations that are specifically helpful in terms of identifying the degree to which IO leaders may understand their tendencies.This study highlights that  organisational culture theorists have persuasively demonstrated that IOs are actors, with ability to expand and behave in line with autonomous goals and principles that cannot be diminished to the goals and principles of their member states. As stated by this model, the capability of IOs towards independent behaviour originates from their specialist, moral, assigned , legal, and rational power, which gives them capacity to wield power. Common arguments of the organisational culture theory recognise the outer limits enforced by states. Nevertheless, in almost all of the empirical studies the possible conflict between the autonomous objectives of the IOs and outside pressures is avoided by selecting case studies wherein IOs behave autonomously but in accordance to the interests of the states, or case studies wherein IOs behave where states are unsympathetic.

Wednesday, October 30, 2019

Someone to Respect and Admire Research Paper Example | Topics and Well Written Essays - 750 words

Someone to Respect and Admire - Research Paper Example He earned his electrical engineering degree from Mysore University. He later earned his degree in computer science Indian institute of Technology (IIT), Kanpur. IIT is treated as one of the top engineering colleges in the country. In 1981 Mr. Murthy founded Infosys Technologies alongside six of his friends. Some will even be surprised to know that none of the friends actually ha the capital of start the company. However wife of Mr. Murthy, who also happened to be an engineer by profession had somehow managed to save Rs. 1000 i.e. $250 that was donated by her for the company. Since then it really has been a fairy tale. From the extreme modest beginning the company has become a corporate giant achieving one success after the other. In 2001 the company became was chosen as the best managed company in the Asia. It is also the biggest exporters of software from India. From its humble beginnings the company has expanded its horizon and is present in all over the globe with over 60 offices including the U.S. (Barney, 2010, p.216). Essence of integrity and Ethics in the leadership The best way to focus on the essence of integrity and ethics is probably through an example. With an objective to interview Mr. Murthy an interviewer once visited the office of his. It is said that at that point of time the company had suffered loss in stock value growth. When the topic was asked to Mr. Murthy the answer given by him was amazing, inspirational and ethical to say the least. As per Mr. Murthy the advice given him to the colleagues in not too look at the stock market as it was believed by him that there is so very little to look at the stock. According to him to main objective of the company must be to maintain transparency to the investors, no to violate the law of the land and maintain harmony in the society and deliver quality products to the clients on time (Singhal, 2003, P.45). Insight into the leader Mr. Narayana Murthy is truly an inspirational leader to say the least. I t has already been discussed about the journey of the company from its modest beginning to the pinnacle of success. It was once said by him only that a true leader is the one who leads from front. A true leader leads by example. He sacrifices more than anyone in the quest of excellence. It has always been the belief of his that if confidence is provided to the people tremendous things can be achieved. It has been the belief of the great man that people having entrepreneurial strengths must have ideas which are marketable in nature. Success can’t be achieved alone, the very essence learnt by him at a very young age from his father paid rich evidence in the success as he believed that entrepreneurship is a marathon but a hundred meter dash. In the year 199 the company became the first registered Indian company listed on American stock exchange. As per a poll by Asiaweek Mr. Murthy was chosen as one of the most powerful people in Asia. He was also voted as the best CEO (Murthy, 2010, p.9). The standouts of the person The factors influencing the success of Mr. Murthy are undoubtedly his vision. Once it was said by him that beyond certain point money should only be treated as a power and opportunity to give something back to society. Over the course of time this has always been backed up through his actions. The driving force behind his success is not destination, but the love of the journey. Here another example must be taken. It has become a corporate culture to work for late hours, something which is a

Monday, October 28, 2019

The Almond Tree Essay Example for Free

The Almond Tree Essay In the poem The Almond Tree, the poet manages to effectively deal with the subject of death, or in this poem, the death of the poets hopes, by using different techniques such as imagery and symbolism. In The Almond Tree by Jon Stallworthy, the poet is drives to the hospital to see his new born son, and once arrives there, finds out his son has Downs Syndrome, and in the rest of the poem, the poet deals with the death of his hopes, and eventualy learns to accept his son. The poet manages to create an appropriate mood for the death of his hopes by having the first section of the poem be positive, and build up a positive and excited mood. The poet manages to create this postivite mood by imagery. When the poet is describing the traffic lights, he refers to them being green as peppermints, the reference to confectionery makes the reader associate the image with sweet and pleasant things. The poet is so excited that he feels he can change scenes to suit himself, shown when the poet says as if i were the lucky prince in an enchanted wood, this builds up the positive mood because it shows that the poet is very enthusiastic, and so the reader feels that enthusiasm too. The poet is very conscious of himself in the first section shown when he said he was aware of the blood running down the delta of my wrist, and so this shows how excited he is. The verse structure in the first section of the poem is also used as a technique to build up a feeling of excitement, the verses vary between 4-8 lines, and have a next to no structure, which give an impression of the poet being very excited so that hes not concentrating on the structure, and is just getting out all his thoughts as they come to him. The poet also states the hopes that he has for his child, such as let it be a son, a son, because he wants the family name to be carried on. All these techniques used help to develop a feeling of excitement and positivity in the first section, which is used to make the bad news to come an even bigger contrast. The second section of the poem is when the news is delivered that the poets son has Downs Syndrome, and is delievered effectively by first introducing the feeling of uneasiness by using onomatopoeia in the form of harsh words, such as scissored and slicing, and so makes the reader feel as if something bad is going to happen. The way the news is actually delivered is also meant to shock the reader, and it is said as quickly and to the point as possible, using only 4 one syllable words, and 1 two syllable word your son is a mongol. The way the news is delivered is made shocking not only by the way the news is delievered, but because it is such a big contrast to the first section of the poem. The third section describes how the poet feels once hearing this shocking news, and describes the death of his dreams,the poet uses techniques such as imagery to get these points across. He describes the news he recieved as going in clean as a bullet, and subsequently stopping the heart within it, which tells the reader that that to the poet, this news is fatal, and that the bullet left no mark on the skin so the poet showed no outward sign of despair. This reaction shows that the poet is in a state of shock. The poet then states that this was my first death, and by his first death he means the death of his hopes, which was for his son to carry on the family name and growing up to be just like the poet, he backs this point up again by stating never to come ashore into my kingdom speaking my language. The poet becomes displaced from reality, saying I held four walls in the lens of an eye, and this experience shows that the poet can see his dead self, and cannot feel anything any more, which proves that the poets hopes have died. The central idea of the poem is that love can overcome all obstacles, which in this case is the poet learning to love his son, no matter what. The only way that the poet would have been able to accept his son was by letting go of his hopes for his son growing up to be just like him and carrying on the family name, and this is what happens. The whole process is shown in the poem through symbolism, which in this case is the almond tree blooming, the poet describes this process as painful by using harsh words, such as split and blood-dark, and finds that the tree had to go through a painful process in order to become what it is, and he compares this to his own situation, and realises that he has to go through a painful process, which is the death of his dreams, in order to do what he was really meant to do, which was to accept his son.

Saturday, October 26, 2019

R.V. Keilty :: essays research papers

R. v. Keilty In the case R.v.Keilty the accused, Keilty, was charged and convicted of trafficking in narcotics. He then appealed to the Supreme Court of Canada on the grounds that the trial judge erred in law. The facts in the case were not disputed but the actual definition of possession under section 2 of the Narcotic Control Act was the issue. The appellant never actually did sell the narcotics nor did he at anytime have possession. It is illogical to convict a person of possession when they don't actually have possession as defined in the Criminal Code. Therefore is it logical to convict a person of trafficking if there were no narcotics? Crown arguments The actual possession is irrelevant because section 2 of the Narcotic Control Act states that trafficking means: (a) to manufacture, sell, give, administer, transport, send, deliver, or distribute, or (b) offer to do anything referred to in paragraph (a) otherwise than under the authority of this Act or the regulation The appellant obviously offered to sell the narcotics to the officer and as in R.v.Mancuso he should be found guilty. Also the actual physical possession is not necessarily needed to be proven as was in R.v.Russo where the defendant was convicted of possession and trafficking even though he did not posses at any time the narcotics. In the case R.v.Piscopo it was demonstrated that an accused can be convicted upon circumstantial evidence. The accused can be convicted using all of the aforementioned cases. Another issue is that if this case becomes precedent it would open a "floodgate" or loophole in the law where other criminals may escape through. This would allow for more dangerous dealers of narcotics, who operate their business "long distance" to escape prosecution because they never actually had the narcotics in their possession. Appellant arguments A person should not be stigmatized by conviction for a criminal offense they did not actually commit.. The case R.v.Vallancourt illustrates the use of the "stigma" test. A person who is convicted of possession should not be also branded as a trafficker of narcotics also. Another principle brought to the court from the R.v.Vallancourt case is that a crime requires a minimal state of mental blameworthiness. This means that the person must bear a certain degree of moral fault for what he did. To convict the accused of trafficking in narcotics when everyone acknowledges that there were no narcotics would seem to violate this principle. Using the rational connection established in the R.v.Oakes it would appear as if the government of Canada is trying to reduce trafficking but if a person who did not posses or sell any narcotics is

Thursday, October 24, 2019

Compare and Contrast Federal and State Prisons

A penitentiary is an institution established and controlled by the government. The penitentiary system in the United Stated has as its primary goal of detaining, housing and punishing individuals who have been convicted of felony crimes. Up until the 19th century, prison systems were not common. The common jail dates back to ancient times, but was used to detain persons temporarily until he or she was found innocent, fined, or subjected to corporal punishment. Generally, corporal punishment was most often reserved for the lower classes, since those with means were able to most fines levied against them. Those crimes that were not deemed capital crimes were punishable by means of public whippings, maiming, or being shamed. Historically, there have been two types of prisons or penitentiary systems in the United States. The Pennsylvania and the New York penitentiary systems form the basis are penitentiary systems in the United States. Although the two share some of the same principles, they differ in many respects and it is not surprising that supporters of each type believe strongly that his or her preferred system is the most desirable and best represents that which characterizes the penal system. Hattery, 2007) The Pennsylvania system was introduced into American society by the Quakers and is far and away the more conservative of the two penitentiary systems. The religious Quakers sought to replace the existing cruel methods of punishment that had been associated with corporal punishment with mandated yet productive labor intensive methods. Prior to the enlightened Quakers entry int o the penal system, criminals were abused at the hands of both formal and informal governments. Punishment included branding, mutilation, whipping and other harsh punishments. Under the Pennsylvania system, prisoners are housed in individual cells. Prisoners are required to engage in unpaid laborious service for as long as he or she is housed in the government run institution. Working hours are clearly defined and convicts are expected to comply with prison policy. While imprisoned, convicts are not allowable to interact with other prisoners and if they come into contact with others, they are not allowed to engage in conversation. Haslam, 2008) The New York system, which was implemented at Auburn, is similar to the Pennsylvania system but markedly differs in that prisoners are allowed to form bonds with other prisoners. Prisoners were afforded the opportunity to interact with each other while working and they were also allowed to eat meals together. Under this model, socialization and relationships were not seen as an enemy of punishment; instead, relationships and socializatio n were seen as that which was inevitable. Under the New York system, prisoners were assigned separate cells where they slept. Generally, this was the only form of isolation allowed under the New York system. Although there seemed to be less rigidity than that of the Pennsylvania system, rules were strictly enforced. (Haslam, 2008) During World War II, the United States created prisoner of war camps at the request of the British allies who were unable to house large number of captives. During this period, numerous prisoners of war who happened to be of German and Italian nationality were housed on American military bases and were forced to provide prison labor. The POWs were treated in much the same way as modern prisoners are treated. The Prisoners were required to work while being held on the military installation and were expected to adhere to all prison camp policies. Since World War II, the prison system in the United States has grown tremendously. A somewhat foreseeable result of this growth has been the evolution of prison labor. Prisoners throughout the country work in numerous manufacturing and service industries. The growth of prison labor in the United States has come under attack by both Americans and human rights advocates around the world. Many people argue that the United States is hypocritical because it denounces China’s use of prison labor while encouraging the privatization of prisons at home. (Hattery, 2007) Works Cited Haslam, J. (2008). Pits, Pendulums, and Penitentiaries: Reframing the Detained Subject. Texas Studies In Literature and Language, 268-284. Hattery, E. S. (2007). If We Build it They Will Come: Human Rights Violations and the Prison Industrial Complex 1 . Societies Without Borders 2, 273 –288.

Wednesday, October 23, 2019

Financial Statement Analysis of Ibm

Financial Statement Analysis of IBM Financial Statement Analysis of IBM I. Company Facts IBM – International Business Machines Corporation The home office of IBM is located in Armonk, Town of North Castle, New York, United States. IBM was founded in 1911 as the Computing Tabulating Recording Company (CTR) through a merger of three companies: the Tabulating Machine Company, the International Time Recording Company, and the Computing Scale Company.CTR adopted the name International Business Machines in 1924, using a name previously designated to CTR's subsidiary in Canada and later South America. Standard Industrial Classification Codes are 7379 which are mainly on computer and relative stuff. Chief Executive Officer (CEO) of IBM now is Virginia M. Rometty. Chairman of the Board of IBM now is Samuel J. Palmisano. The end date of recent fiscal year of IBM is Dec. 31st 2011. Main services IBM provides include business consulting, IT related services, outsourcing service and traini ng.Main products IBM provides include mainframe, software, system and storage. IBM’s major operations consist of five business segments: Global Technology Services, Global Business Services, Software, Systems and Technology and Global Financing. In the latest fiscal year, IBM has an amount of 433,362 wholly owned employees all over the world. PricewaterhouseCoopers LLP (PwC) is the independent auditor retained to audit IBM’s consolidated financial Statements and the effectiveness of the company's internal control over financial reporting.The stock ticker symbol is IBM. IBM common stock is listed on the New York Stock Exchange, the Chicago Stock Exchange, and outside the United States. And the latest stock price was $188. 32 on Nov. 14th 2012 on NYSE. II. Business and Strategy Analysis 1. Industry Description and Competitive Anlysis Since IBM is a highly diversified company, it concentrates on several industries at the same time. So let’s say IBM mainly concentra tes on the computer related hardware and software manufacturing industries. As we all now, these two industries supplement each other and depend on each other while the most competitive companies always work on both industries at the same time. The computer related software and hardware manufacturing industry is characterized by significant research and development activity and rapid technological change. The rapid pace of innovation in this sector creates a constant demand for newer and faster products and applications. While the sector has grown faster than most other industries over the past several decades, it faces challenges from rising costs, global market share, and the rapid pace of innovation.The main competitors for IBM now are Hewlett-Packard, Dell and Microsoft. Here I will use the Porter five forces analysis to give a competitive analysis among these four companies. Threat of new competition: The market of this industry is profitable in some parts like high-level softw are and frames, not too profitable in some other parts like PCs. So we can say the market is still profitable and is attracting the new entrants, which has the possibility to decrease profitability for all firms in this industry.While in this industry, because of the existence of several big companies, the barriers to entry are relatively high which are non-profitable for the new entry firms. The several big companies have held very high brand equity, customer loyalty, efficient distribution methods and scale effect to decrease the costs and increase the profits. There is not too much threat from the new firms to compete with IBM, there are high possibility for other main competitors like HP, Dell and Microsoft to enter the markets where IBM is making high profit, well they have the R&D capabilities.But to make the biggest profits, although IBM's main competitors are Hewlett-Packard, Dell and Microsoft, each of these companies has a different focus area. Dell makes most of its money on PC and server hardware, while Hewlett-Packard is more diversified as the leader in PCs and Imaging ; Printing as well as offering IT services and Microsoft concentrates on the computer software development. So we can conclude that there is threat of new competition, but the level is relatively low.Threat of substitute products or services: The threat of substitute products or services is relatively high compared with the threat of new competition. Also these threats come from the main competitors. For products, such as PC, most customers will compare the price, screen size, life time and other attributes instead of just the brand the same way as services such as IT consulting etc. Bargaining power of customers: The bargaining power of customers is also described as the market of outputs: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.In this factor, because customers of these two industries have many channe ls to access the products and services, high information availability, different choices, differentiated advantages of products and customers is also kind of price sensitive. So we can conclude that the bargaining power of customers is strong. Bargaining power of suppliers: The bargaining power of suppliers is also described as the market of inputs. Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm, when there are few substitutes.Because there are plenty of suppliers in most parts, presence of substitute keeps being produced, degree of differentiation of inputs is not high enough and supplier competition is very strong. Then we can conclude that bargaining power of suppliers is also in a lower level. Intensity of competitive rivalry: Intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Sustainable competitive advantages through innovation, all these four big competitive companies have strong R&D team and invest much money on it.And we can always see the advertisements of their products anywhere. Each company has a differentiated competitive strategy to concentrate on their own areas and holds sustainable competitive advantages through innovation. So we can conclude that the intensity of competitive rivalry is very high. Given the Porter five forces analysis above, here we have a general conclusion that computer related hardware and software industries are relatively highly competitive and sustainable based on the current situation and future development trends.There do have some profitable niche market and some areas can be developed further. The big four companies have their own advantages and emphasis and also compete heavily with each other. There is no easy way for each of them to lead in all. 2. Industry’s Future Prospects Assessment When we come to talk about the future prospects of computer related hardware and software in dustries, I’m sure that it will not be that promising like nanotechnology or genetic therapy which is still in research period, since he computer related hardware and software industries have been developed many years, most of products, technologies and services have been mature enough. But it is still profitable and sustainable because the world has been established based on these two industries. Without their support, the world cannot step forward even a little. And the intense competition and fast replacement speed will drive these two industries to be developed faster and faster.There may be some lawsuits and governmental regulations there confronting companies, such as the plagiarization, copyright infringement, anti-monopoly, cutthroat competition, tax issue, local protection and so on. These will be the main legal issues that companies of two these industries are certainly meeting now and will still never end in the future. Plagiarization and copyright infringement wil l be the two main issues that these companies should pay more emphasis on cuz these two are the vital parts for them to keep their competitive advantages and make profits.Incorporating the relative small companies may be judged by the court saying it is buying the potential competitor due to the concern of monopoly of government. Cutthroat competition may not happen, while once it happened, it will certainly be a disaster. Tax issue and the local protection are always come together. Local government may protect the local companies by dealing high tax to the foreign competitors. Furthermore, due to the fast replacement speed, the price of products and services in these two industries will never be high as long as there is no monopoly.So the cost control is one of the key parts to determine these companies’ future. And innovation will never be too much. 3. Summarization and Evaluation of IBM’s Future Goals and Strategies The next decade holds enormous promise for IBM. Th ey are uniquely positioned to deliver the benefits of a vast new natural resource – a gusher of data from both man-made and natural systems that can now be tapped to help businesses and institutions succeed in an increasingly complex and dynamic global economy.IBM has steadily realigned its business to lead in a new era of computing and to enable its clients to benefit from the new capabilities that era is creating. As a consequence, its investors benefit from a business model that is both sustainable over the long term and fueled by some of the world’s most attractive high-growth markets and technologies. It will be on track toward its 2015 Road Map goal of at least $20 in operation earnings per share and $20 billion in revenue growth by 2015. This goal for IBM is quite suitable.There are four high-growth spaces as following, growth markets, business analytics, cloud and smarter planet. These four spaces IBM is working hard on will certainly drive to high profits due to its high emphasis and profession. The world is undergoing disruption, but IBM now stands out among its industry peers and in business at large as distinctively able to keep moving to the future, and to keep generating differentiating value for its clients, its employees and the citizens of the world. III. Accounting AnalysisThe accompanying Consolidated Financial Statements and foot notes of the International Business Machines Corporation (IBM or the company) have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). 1. Revenue The revenue recognition principle provides guidance on when a company must recognize revenue. To recognize means to record it. If revenue is recognized too early, a company would look more profitable than it is. If revenue is recognized too late, a company would look less profitable than it is. The company recognizes revenue when it is realized or realizable and earned.The company considers revenu e realized or realizable and earned when it has persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable and collectability is reasonably assured. Delivery does not occur until products have been shipped or services have been provided to the client, risk of loss has transferred to the client, and either client acceptance has been obtained, client acceptance provisions have lapsed, or the company has objective evidence that the criteria specified in the client acceptance provisions have been satisfied.The sales price is not considered to be fixed or determinable until all contingencies related to the sale have been resolved. IBM’s revenue was growing in an increasing speed and its pre-tax income margin grew from 18. 9 percent in 2009 to 19. 7 percent in 2010 to 20. 02 percent in 2011 which is the ninth consecutive increasing year. If only based on this, IBM was doing better and better in last three years. 2. Major Expenses The expe nse recognition (or matching) principle, prescribes that a company record the expenses it incurred to generate the revenue reported.The expense recognition (or matching) principle aims to record expenses in the same accounting period as the revenues that are earned as a result of those expenses. This matching of expenses with the revenue benefits is a major part of the adjusting process. Under the accrual basis of accounting, expenses are recognized when incurred, usually when goods are received or services are consumed. This may not be when the goods or services are actually paid for. The point at which an expense is recognized is dependent on the nature of the transaction or other event that gives rise to the expense.The major expense of IBM includes stock-based compensation, prepared expense, advertising and promotional expense, research expense, development expense, engineering expense, workforce rebalancing charges, retirement-related costs, amortization of acquired intangibles assets, interest expense and other expense. Below tables show the main expenses IBM recognized from 2009 to 2011. Table 3-2-1 Total Expense and Other Income ($ in millions) For the year ended December 31:| 2011| 2010| 2009|Total consolidated expense and other (income)| $29,135| $26,291| $25,647| Total operating (non-GAAP) expense and other (income) | $28,875| $26,202| $25,603| Total consolidated expense-to-revenue ratio| 27. 30%| 26. 30%| 26. 80%| Operating (non-GAAP) expense-to-revenue ratio| 27. 00%| 26. 20%| 26. 70%| We can see from this table that the expense is increasing with time goes on. While compared with the increasing speed of revenue and that of expense-to-revenue, we can figure out a little bit progress on expense control of IBM. Table 3-2-2 Selling, General and Administrative ($ in millions) For the year ended December 31:| 2011| 2010| 2009|Selling, general and administrative expense| | | | Selling, general and administrative—other| $20,287| $18,585| $17,872| Advertising and promotional expense| $1,373| $1,337| $1,255| Workforce rebalancing charges| $440| $641| $474| Retirement-related costs| $603| $494| $503| Amortization of acquired intangibles assets| $289| $253| $285| Stock-based compensation| $514| $488| $417| Bad debt expense| $88| $40| $147| Total consolidated selling, general and administrative expense| $23,594| $21,837| $20,952| Non-operating adjustments| | | |Amortization of acquired intangible assets| ($289)| ($253)| ($285)| Acquisition-related charges| ($20)| ($41)| ($8)| Non-operating retirement-related (costs)/income| ($13)| $84| $127| Operating (non-GAAP) selling, general and administrative expense| $23,272| $21,628| $20,787| Table 3-2-3 Research, Development and Engineering ($ in millions) For the year ended December 31:| 2011| 2010| 2009| Total consolidated research, development and engineering| $6,258| $6,026| $5,820| Operating (non-GAAP) research, development and engineering| $6,345| $6,152| $5,943| Table 3-2-4 Interes t Expense ($ in millions)For the year ended December 31:| 2011| 2010| 2009| Interest expense| $411| $368| $402| From all the tables above, we can find that the most important or the highest portion of the expense is the selling, general and administrative expense which includes most of the expense. 3. Investments IBM’s 2009 cash investment was $1. 2 billion for six acquisitions — five of them in key areas of software. And after investing $ 5. 8 billion in R &D and $3. 7 billion in net capital expenditures, IBM was able to return more than $10 billion to you — $7. billion through share repurchase and $2. 9 billion through dividends. Last year’s dividend increase was 10 percent, marking the 14th year in a row in which it has raised its dividend. IBM’s 2010 cash flow has enabled it to invest in the business and to generate substantial returns to investors. Our 2010 cash investment was $6 billion for 17 acquisitions— 13 of them in key areas of s oftware. After investing $6 billion in R&D and $4 billion in net capital expenditures, IBM was able to return more than $18 billion to you— $15. billion through share repurchases and $3. 2 billion through dividends. Last year’s dividend increase was 18 percent, marking the 15th year in a row in which it has raised its dividend. Over the past decade, IBM has returned $107 billion to you in the form of dividends and share repurchases, while investing $70 billion in capital expenditures and acquisitions, and almost $60 billion in R&D. IBM’s 2011 cash flow has enabled IBM to invest in the business and to generate substantial returns to investors, while spending $6. billion on R&D. In 2011 IBM invested $1. 8 billion for five acquisitions in key areas of software and $4. 1 billion in net capital expenditures. IBM was able to return $18. 5 billion to you — $15 billion through share repurchases and $3. 5 billion through dividends. Last year’s dividend incr ease was 15 percent, marking the 16th year in a row in which IBM has raised its dividend, and the 96th consecutive year in which it has paid one. From the table and the description above, the R&D investment was always above 5% of total revenue.IBM put much emphasis on its R&D to keep the sustainable development and competitive advantages. 4. Inventories Raw materials, work in process and finished goods are stated at the lower of average cost or market. Cash flows related to the sale of inventories are reflected in net cash from operating activities in the Consolidated Statement of Cash Flows. Table 3-4-1 Inventories ($ in millions) At December 31:| 2011| 2010| 2009| Finished goods| $589| $432| $533| Work in process and raw materials| $2,007| $2,018| $1,960| Total| $2,595| $2,450| $2,494| 5.Property, Plant and Equipment Property, plant and equipment are carried at cost and depreciated over their estimated useful lives using the straight-line method. The estimated useful lives of cert ain depreciable assets are as follows: buildings, 30 to 50 years; building equipment, 10 to 20 years; land improvements, 20 years; plant, laboratory and office equipment, 2 to 20 years; and computer equipment, 1. 5 to 5 years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease term, rarely exceeding 25 years.Below is the table of Property, Plant and Equipment from 2009 to 2011 including the depreciation. Table 3-5-1 Property, Plant and Equipment ($ in millions) At December 31:| 2011| 2010| 2009| Land and land improvements| $786| $777| $737| Buildings and building improvements| $9,531| $9,414| $9,314| Plant, laboratory and office equipment| $26,843| $26,676| $9,314| Plant and other property—gross| $37,160| $36,867| $35,940| Less: Accumulated depreciation| $24,703| $24,435| $23,485| Plant and other property—net| $12,457| $12,432| $12,455| Rental machines| $2,964| $3,422| $3,656|Less: Accumulated depreciation| $1,538 | $1,758| $1,946| Rental machines—net| $1,426| $1,665| $1,710| Total—net| $13,883| $14,096| $14,165| The data from the table show a relatively steadily decreasing status of IBM’s property, plant and equipment in all. This means a good control and a relatively 6. Goodwill and Intangibles Below tables show the intangibles from 2009 to 2011 Table 3-6-1 Intangibles in 2009 ($ in millions) At December 31, 2009:| GrossCarryingAmount| Accumulated Amortization| Net Carrying Amount| Intangible asset class| | | |Capitalized software| $1,765| ($846)| $919| Client relationships| $1,367| ($677)| $690| Completed technology| $1,222| ($452)| $770| Patents/trademarks| $174| ($59)| $115| Other*| $94| ($75)| $19| Total| $4,622| ($2,109)| $2,513| Table 3-6-2 Intangibles in 2010 ($ in millions) At December 31, 2010:| GrossCarryingAmount| Accumulated Amortization| Net Carrying Amount| Intangible asset class| | | | Capitalized software| $1,558| ($726)| $831| Client relationships| $1,7 09| ($647)| $1,062| Completed technology| $2,111| ($688)| $1,422|In-process R&D| $21| $0| $21| Patents/trademarks| $211| ($71)| $140| Other*| $39| ($28)| $11| Total| $5,649| ($2,161)| $3,488| Table 3-6-3 Intangibles in 2011 ($ in millions) At December 31, 2011:| GrossCarryingAmount| AccumulatedAmortization| NetCarryingAmount| Intangible asset class| | | | Capitalized software| $1,478| ($678)| $799| Client relationships| $1,751| ($715)| $1,035| Completed technology| $2,156| ($745)| $1,411| In-process R&D| $22| ($1)| $21| Patents/trademarks| $207| ($88)| $119| Other*| $29| ($22)| $7| | $5,642| ($2,250)| $3,392|The net carrying amount of intangible assets decreased $96 million during the year ended December 31, 2011, primarily due to amortization, partially offset by intangible asset additions. No impairment of intangible assets was recorded in any of the periods presented. Total amortization was $1,226 million, $1,174 million and $1,221 million for the years ended December 31, 2011, 2 010 and 2009 respectively. The aggregate intangible amortization expense for acquired intangibles (excluding capitalized software) was $634 million, $517 million and $489 million for the years ended December 31, 2011, 2010 and 2009 respectively.In addition, in 2011 the company retired $1,133 million of fully amortized intangible assets, impacting both the gross carrying amount and accumulated amortization for this amount. The amortization expense for each of the five succeeding years relating to intangible assets currently recorded in the Consolidated Statement of Financial Position is estimated to be the following at December 31, 2011: Table 3-6-4 Estimated consolidated statement of financial position ($ in millions) | Capitalized Software| Acquired Intangibles| Total| 012| $480| $634| $1,113| 2013| $250| $590 | $840 | 2014| $70| $446 | $516 | 2015| —| $340 | $340 | 2016| —| $303 | $303 | The changes in the goodwill balances by reportable segment, for the years ended December 31, 2009, 2010 and 2011, are as follows: Table 3-6-5 Goodwill Balances in 2009 ($ in millions) Segment| Balance anuary 1, 2009| Goodwill Additions| Purchase Price Adjustments| Divestitures| Foreign Currency Translation and Other Adjustments| Balance December 31, 2009|Global Business Services| $3,870 | —| —| —| $172 | $4,042 | Global Technology Services| $2,616 | $10 | $1 | —| $150 | $2,777 | Software| $10,966 | $994 | ($50)| ($13)| $708 | $12,605 | Systems and Technology| $772 | —| ($7)| —| $1 | $12,605 | Total| $18,226 | $1,004 | ($56)| ($13)| $1,031 | $20,190 | Table 3-6-6 Goodwill Balances in 2010 ($ in millions) Segment| Balance anuary 1, 2010| Goodwill Additions| Purchase Price Adjustments| Divestitures| Foreign Currency Translation and Other Adjustments| Balance December 31, 2010|Global Business Services| $4,042 | $252 | $0 | —| $35 | $4,329 | Global Technology Services| $2,777 | $32 | ($1)| —| ($104)| $2,704 | S oftware| $12,605 | $4,095 | ($52)| —| $315 | $16,963 | Systems and Technology| $766 | $375 | ($1)| —| ($1)| $1,139 | Total| $20,190 | $4,754 | ($54)| —| $245 | $25,136 | Table 3-6-7 Goodwill Balances in 2009 ($ in millions) Segment| Balance anuary 1, 2011| Goodwill Additions| Purchase Price Adjustments| Divestitures| Foreign Currency Translation and Other Adjustments| Balance December 31, 2011|Global Business Services| $4,329 | $14 | $0 | ($10)| ($20)| $4,313 | Global Technology Services| $2,704 | —| ($1)| ($2)| ($55)| $2,646 | Software| $16,963 | $1,277 | $10 | ($2)| ($127)| $18,121 | Systems and Technology| $1,139 | —| ($6)| —| $0 | $1,133 | Total| $25,136 | $1,291 | $2 | ($13)| ($203)| $26,213 | Purchase price adjustments recorded in the 2011, 2010 and 2009 were related to acquisitions that were completed on or prior to December 31, 2010, 2009 or 2008 respectively, and were still subject to the measurement period that ends at the earlier of 12 months from the acquisition date or when information becomes available.There were no goodwill impairment losses recorded in 2011, 2010 or 2009 and the company has no accumulated impairment losses. IV. Financial Analysis 1. Financial Ratio Display and Interpretation 2. 1 Liquidity and Efficiency Ratios a. Current ratio 2011 Current ratio=Current assetsCurrent liabilities=50,92842,123=1. 21:1 2010 Current ratio=Current assetsCurrent liabilities=48,11640,562=1. 19:1 The current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts over the next 12 months. It compares a firm's current assets to its current liabilities.Here, we can conclude that IBM is totally able to pay for its debt. b. Quick ratio (Acid-test ratio) 2011 Quick ratio=Cash+Short-term investments+ Current receivablesCurrent liabilities=11,922+4,895+18,38242,123=0. 84:1 2010 Quick ratio=Cash+Short-term investments+ Current receivablesCurrent liabilities=10,661++4,895+17, 39140,562=0. 81:1 Quick assets are cash, short-term investments, and current receivables. These are the most liquid types of current assets. The acid-test ratio, also called quick ratio, reflects on a company’s short-term liquidity.The quick ratio is more conservative than the current ratio, a more well-known liquidity measure, because it excludes inventory from current assets. Inventory is excluded because some companies have difficulty turning their inventory into cash. Here, the quick ratio is pretty good for IBM. c. Accounts receivable turnover 2011 Accounts receivable turnover=Net salesAverage accounts receivable, net=106,91617,886. 5=5. 97 times 2010 Accounts receivable turnover=Net salesAverage accounts receivable, net=99,87016,724=5. 97 timesAn accounting measure used to quantify a firm's effectiveness in extending credit as well as collecting debts. The receivables turnover ratio is an activity ratio, measuring how efficiently a firm uses its assets. d. Inventory tur nover 2011 Inventory turnover=Cost of goods soldAverage inventory=56,7782,522. 5=22. 51 times 2010 Inventory turnover=Cost of goods soldAverage inventory=53,8572,472=21. 89 times The Inventory turnover is a measure of the number of times inventory is sold or used in a time period such as a year. e. Days’ sales uncollected 011 Days’ sales uncollected=Accounts receivable, netNet sales*365=18,382106,916*365=62. 75 days 2010 Days’ sales uncollected=Accounts receivable, netNet sales*365=17,39199,870*365=63. 56 days Accounts receivable turnover provides insight into how frequently a company collects its accounts. Days’ sales uncollected is one measure of this activity. f. Days’ sales in inventory 2011 Days’ sales in inventory=Ending inventoryCost of goods sold*365=2,59556,778*365=16. 68 days 2010 Days’ sales in inventory=Ending inventoryCost of goods sold*365=2,45053,857*365=16. 0 days Days’ sales in inventory is a useful measure in evaluating inventory liquidity. A measure of how quickly a company turns its inventory into sales. Days’ sales in inventory is linked to inventory in a way that days’ sales uncollected is linked to receivables. g. Total assets turnover 2011 Total assets turnover=Net salesAverage total assets=106,916114,942. 5=0. 93 times 2010 Total assets turnover=Net salesAverage total assets=99,870111,237=0. 90 times The total asset turnover ratio measures the ability of a company to use its assets to efficiently generate sales.This ratio considers all assets, current and fixed. Those assets include fixed assets, like plant and equipment, as well as inventory, accounts receivable, as well as any other current assets. 2. 2 Solvency Ratios a. Debt ratio 2011 Debt ratio=Total liabilitiesTotal assets=96,197 116,433 =82. 6% 2010 Debt ratio=Total liabilitiesTotal assets=90,279113,452=79. 6% A ratio that indicates what proportion of debt a company has relative to its assets. The measure giv es an idea to the leverage of the company along with the potential risks the company faces in terms of its debt-load. b. Equity ratio 011 Equity ratio=Total equityTotal assets=20,236116,433=17. 4% 2010 Equity ratio=Total equityTotal assets=23,172113,452=20. 4% A financial ratio indicating the relative proportion of equity used to finance a company's assets. The two components are often taken from the firm's balance sheet or statement of financial position (so-called book value), but the ratio may also be calculated using market values for both, if the company's equities are publicly traded. c. Interest coverage ratio 2011 Interest coverage ratio=Income before interest expense and income taxesInterest expense=22,904411=55. times 2010 Interest coverage ratio=Income before interest expense and income taxesInterest expense=20,923368=56. 9 times A metric used to measure a company's ability to meet its debt obligations. It is calculated by taking a company's earnings before interest and t axes (EBIT) and dividing it by the total interest payable on bonds and other contractual debt. It is usually quoted as a ratio and indicates how many times a company can cover its interest charges on a pretax basis. Failing to meet these obligations could force a company into bankruptcy. 2. Profitability Ratios a. Return on total assets 2011 Return on total assets=Net incomeAverage total assets=15,855114,942. 5=13. 8% 2010 Return on total assets=Net incomeAverage total assets=14,833 111,237=13. 3% A ratio that measures a company's earnings before interest and taxes (EBIT) against its total net assets. The ratio is considered an indicator of how effectively a company is using its assets to generate earnings before contractual obligations must be paid. b. Return on equity 2011 Return on equity=Net income-Preferred dividendsAverage equity=15,855-3,47321704=57. % 2010 Return on equity=Net income-Preferred dividendsAverage equity=14,833- 3,177 22963. 5=50. 8% The amount of net income ret urned as a percentage of shareholders equity. Return on equity measures a corporation's profitability by revealing how much profit a company generates with the money shareholders have invested. c. Net income as a percentage of net sales (Profit margin ratio) 2011 Net income as a percentage of net sales=Net incomeNet sales=15,855106,916=14. 8% 2010 Net income as a percentage of net sales=Net incomeNet sales=14,833 99,870=14. % A ratio of profitability calculated as net income divided by revenues, or net profits divided by sales. It measures how much out of every dollar of sales a company actually keeps in earnings. Profit margin is very useful when comparing companies in similar industries. A higher profit margin indicates a more profitable company that has better control over its costs compared to its competitors. d. Gross profit rate (Gross margin ratio) 2011 Gross profit rate=Net sales-Cost of goods soldNet sales=106,916-56,778106,916=46. 9% 2010 Gross profit rate=Net sales-Cost o f goods soldNet sales=99,870-5385799,870=46. % A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage. The gross margin represents the percent of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services sold by a company. The higher the percentage, the more the company retains on each dollar of sales to service its other costs and obligations. 2. 4 Market ratios a. Price-Earnings ratio 2011 Price-Earnings ratio=Market price per common shareEarnings per share=183. 8813. 25=13. 9:1 010 Price-Earnings ratio=Market price per common shareEarnings per share=146. 7611. 69=12. 6:1 P/E ratio is an equity valuation measure defined as market price per share divided by annual earnings per share. b. Dividend yield 2011 Dividend yield=Annual cash dividends per shareMarket price per share=2. 90183. 88=1. 6% 2010 Dividend yield=Annual cash dividends per shareMar ket price per share=2. 50146. 76=1. 7% A financial ratio that shows how much a company pays out in dividends each year relative to its share price. In the absence of any capital gains, the dividend yield is the return on investment for a stock. . Comparison and Interpretation of Ratio Values With Main Competitors Microsoft All the comparisons are based on the data of 2011. 3. 5 Liquidity and Efficiency Ratios a. Current ratio 2011 IBM Current ratio=Current assetsCurrent liabilities=50,92842,123=1. 21:1 2011 Microsoft Current ratio=Current assetsCurrent liabilities=74,91828,774=2. 60:1 The lower current ratio means that Microsoft has more resources to pay its debts over the next 12 months. b. Quick ratio (Acid-test ratio) 2011 IBM Quick ratio=Cash+Short-term investments+ Current receivablesCurrent liabilities=11,922+4,895+18,38242,123=0. 84:1 011 Microsoft Quick ratio=Cash+Short-term investments+ Current receivablesCurrent liabilities= 9,610+43,162+14,98728,774=2. 35:1 Microsoft has a higher quick ratio which means that Microsoft’s shot-term liquidity is better than that of IBM. c. Accounts receivable turnover 2011 IBM Accounts receivable turnover=Net salesAverage accounts receivable, net=106,91617,886. 5=5. 97 times 2011 Microsoft Accounts receivable turnover=Net salesAverage accounts receivable, net=69,94314000. 5=5. 00 times The similar accounts receivable turnover means that both the companies have a relatively good ability to use its assets efficiently. . Inventory turnover 2011 IBM Inventory turnover=Cost of goods soldAverage inventory=56,7782,522. 5=22. 51 times 2011 Microsoft Inventory turnover=Cost of goods soldAverage inventory=53,8571,372=39. 25 times Microsoft has a higher inventory turnover which means a better inventory control. e. Days’ sales uncollected 2011 IBM Days’ sales uncollected=Accounts receivable, netNet sales*365=18,382106,916*365=62. 75 days 2011 Microsoft Days’ sales uncollected=Accounts receivable, netNet sales*365=14000. 569,943*365=73. 1 days IBM has a faster pace to collect its accounts. f.Days’ sales in inventory 2011 IBM Days’ sales in inventory=Ending inventoryCost of goods sold*365=2,59556,778*365=16. 68 days 2011 Microsoft Days’ sales in inventory=Ending inventoryCost of goods sold*365=1,37253857*365=9. 30 days Microsoft has a quicker speed to turn its inventory into sales. g. Total assets turnover 2011 IBM Total assets turnover=Net salesAverage total assets=106,916114,942. 5=0. 93 times 2011 Microsoft Total assets turnover=Net salesAverage total assets=69,94397408. 5=0. 72 times IBM has better abilities to use its assets to efficiently generate sales. . 6 Solvency Ratios a. Debt ratio 2011 IBM Debt ratio=Total liabilitiesTotal assets=96,197 116,433 =82. 6% 2011 Microsoft Debt ratio=Total liabilitiesTotal assets=51,621 108,704 =47. 5% IBM has a higher proportion of debe relative to its assets, which means a higher risk. b. Equity ratio 2011 IBM Equity ra tio=Total equityTotal assets=20,236116,433=17. 4% 2011 Microsoft Equity ratio=Total equityTotal assets=57,083108,704=52. 5% c. Interest coverage ratio 2011 IBM Interest coverage ratio=Income before interest expense and income taxesInterest expense=22,904411=55. times 2011 Microsoft Interest coverage ratio=Income before interest expense and income taxesInterest expense=28,071295=95. 2 times Microsoft has better ability to meet its debt obligations. 3. 7 Profitability Ratios a. Return on total assets 2011 IBM Return on total assets=Net incomeAverage total assets=15,855114,942. 5=13. 8% 2011 Microsoft Return on total assets=Net incomeAverage total assets=23,15066213. 5=35. 0% Microsoft is more efficient in generating earnings by using its assets. b. Return on equity 2011 IBM Return on equity=Net income-Preferred dividendsAverage equity=15,855-3,47321704=57. % 2011 Microsoft Return on equity=Net income-Preferred dividendsAverage equity=23,150-5,39451629=34. 4% IBM has a better performan ce in generating profitability by using shareholders’ investment. c. Net income as a percentage of net sales (Profit margin ratio) 2011 IBM Net income as a percentage of net sales=Net incomeNet sales=15,855106,916=14. 8% 2011 Microsoft Net income as a percentage of net sales=Net incomeNet sales=23,15069,943=33. 1% Microsoft is better in keeping earnings in how much out of every dollar of sales. d. Gross profit rate (Gross margin ratio) 011 IBM Gross profit rate=Net sales-Cost of goods soldNet sales=106,916-56,778106,916=46. 9% 2011 Microsoft Gross profit rate=Net sales-Cost of goods soldNet sales=69,943-56,77869,943=18. 8% Higher percentage of IBM means it retains more on each dollar of sales to service its other costs and obligations. 3. 8 Market Ratios a. Price-Earnings ratio 2011 IBM Price-Earnings ratio=Market price per common shareEarnings per share=183. 8813. 25=13. 9:1 2011 Microsoft Price-Earnings ratio=Market price per common shareEarnings per share=26. 872. 73=9. 84 :1 P/E ratio gives a clear comparison, Microsoft is better. b.Dividend yield 2011 IBM Dividend yield=Annual cash dividends per shareMarket price per share=2. 90183. 88=1. 6% 2011 Microsoft Dividend yield=Annual cash dividends per shareMarket price per share=0. 64 26. 87=2. 4% Microsoft give higher percentage of dividend. 3. Comparison and Interpretation of Ratio Values with Key Business Ratios All the comparisons are based on the data of 2011. Only compared with those available online. 4. 9 Liquidity and Efficiency Ratios Table 3-3. 1-1Liquidity and Efficiency Ratios with Key Business Ratios Item| IBM 2011| IBM 2011| Key Business Ratios| Current ratio| 1. 21:1| 1. 19:1| 1. 9:1| Quick ratio| 0. 84:1| 0. 81:1| 0. 68:1| Return on equity| 57. 0%| 50. 8%| 13. 96%| Net income as a percentage of net sales| 14. 8%| 14. 9%| 10. 2%| Price-Earnings ratio| 13. 9:1| 12. 6:1| 13. 2:1| Dividend yield| 1. 6%| 1. 7%| 2. 05%| The lower current ratio means IBM has a more resource to pay its debts over the next 12 month compared to the industry average. IBM has a higher quick ratio which means that IBM’s shot-term liquidity is better than industry average. A higher return on equity ratio means IBM has a better performance than industry average in generating profitability by using shareholders’ investment.A higher Net income as a percentage of net sales means IBM is better in keeping earnings in how much out of every dollar of sales than industry average. IBM’s P/E ratio increased and exceeded the industry average and is a little bit better. Its stock performed well last year. A lower dividend yield ratio means less dividend compared to industry average gave to shareholders. In conclusion, IBM had a quite well performance in last two years. All the ratios shows that IBM had got an obvious growth and improvement. 4. Common-size Comparative Statements Analysis Appendix 1 is IBM Common-Size Comparative Balance Sheets A 0. 4% point increase in cash and equivalents , which is likely balanced with a 0. 87% point decline in Marketable securities, both steady status in inventories and property, plant and equipment, a marked increase 8. 5% in retained earnings and with most of the good increase and good decrease in percentage means a better performance year in 2011 than that in 2010. Appendix 2 is IBM Common-Size Comparative Income Statement A 0. 33% decline in cost of services, a 0. 39% decline in cost of sales, a 0. 11% decline in cost of financing, a 0. 82% decline in total cost contributes a 0. 82% increase in gross profits, and a 0. 2% decline in net income (loss) shows a better performance of IBM in 2011 than that in 2010. Appendix 3 is IBM Common-Size Comparative Cash Flow Statement A 4. 01% increase in net income, a 1. 29% decline in inventories, a 5% decline in other assets/other liabilities, a 0. 09% increase in investment in software, a 0. 61% in non-operating finance receivables – net, a 21. 17% increase in acquisition of busine sses, net of cash acquired, and a 21. 37 increase in net cash flows from investing activities gives a enough evidence to show the better performance of IBM in 2011 than that in 2010.So in conclusion, IBM performed better in 2011 than in 2010. 5. Trend Analysis Appendix 4 is IBM Income Statement Trend Percent The base period is 2009 and the trend percent is computed in each subsequent year by dividing that year’s amount by its 2009 amount. Total revenue in trend percent is 100% in 2009, 104. 29% in 2010, and 111. 65% in 2011; Total cost is 100% in 2009, 103. 62% in 2010, and 109. 25% in 2011; Total expense & other income is 100% in 2009, 102. 51% in 2010, and 113. 60% in 2011. These data shows a good control of cost but a relatively bad expense control.IBM used the relatively same cost generates more revenue but fewer revenue with the same expense. Total revenue falls short of that for total expense & other income in 2011 but exceeded in 2010, IBM fails to show an ability to c ontrol these expenses as it expands in 2011. Appendix 5 is IBM Balance Sheet Trend Percent The base period is 2009 and the trend percent is computed in each subsequent year by dividing that year’s amount by its 2009 amount. Total revenue in trend percent is 100% in 2009, 104. 29% in 2010, and 111. 65% in 2011; Total assets are 100% in 2009, 104. 60% in 2010, and 106. % in 2011; Retained earnings are 100% in 2009, 114. 38% in 2010, and 129. 61% in 2011. With these percent, we can figure out that IBM was more efficient in using its assets in 2011. Management has generated revenues sufficient to compensate for this asset growth. And in retained earnings shows a better in expense control and higher efficiency in generate revenues. So in conclusion, IBM did a quite good job in 2011. V. Prospective Analysis and Summary Here, based on what I have calculated and the interpretation. We can definitely come to a conclusion that IBM is still growing and it did very good in most parts.As the trend analysis listed above, the faster growing total revenue and the slower growing total cost shows a quite good control of the cost. IBM used the relatively same cost generates more revenue. And IBM was becoming more efficient in using its assets to generate revenue. The fairly good current ratio gives an average performance in giving the debts in next 12 months. And with the quite good quick ratio, return on equity, net income as a percentage of net sales, P/E ratio in 2011 which are higher than the average key business ratios and the ratios of IBM in 2010, we can anticipate a good performance in 2012 and far future.Common-size comparative statements analysis also gives a quite good result, such as the increase in cash and equivalents, gross profits, net income, acquisition of businesses, net of cash acquired, net cash flows and retained earnings, the decline in cost of goods and inventories. Although IBM didn't perform as well as Microsoft, and there is still some defects i n its performance in last two years. As a whole, I would like to invest my hard -earned dollars into the stock of IBM. Appendix 1 | | | Common-size Percent| Report Date| 12/31/2011| 12/31/2010| 12/31/2011| 12/31/2010| Cash ; cash equivalents| 11,922,000| 10,661,000| 10. 4%| 9. 40%| Marketable securities| 0| 990,000| 0. 00%| 0. 87%| Notes ; accounts receivable – trade, net| 11,179,000| 10,834,000| 9. 60%| 9. 55%| Short-term financing receivables| 16,901,000| 16,257,000| 14. 52%| 14. 33%| Other accounts receivable| 1,481,000| 1,134,000| 1. 27%| 1. 00%| Finished goods| 589,000| 432,000| 0. 51%| 0. 38%| Work in process ; raw materials| 2,007,000| 2,018,000| 1. 72%| 1. 78%| Inventories| 2,595,000| 2,450,000| 2. 23%| 2. 16%| Deferred taxes| 1,601,000| 1,564,000| 1. 38%| 1. 38%| Prepaid expenses ; other current assets| 5,249,000| 4,226,000| 4. 51%| 3. 2%| Total current assets| 50,928,000| 48,116,000| 43. 74%| 42. 41%| Land ; land improvements| 786,000| 777,000| 0. 68%| 0. 68%| Build ings ; building improvements| 9,531,000| 9,414,000| 8. 19%| 8. 30%| Plant, laboratory ; office equipment| 26,843,000| 26,676,000| 23. 05%| 23. 51%| Plant ; other property, gross| 37,160,000| 36,867,000| 31. 92%| 32. 50%| Less: accumulated depreciation| 24,703,000| 24,435,000| 21. 22%| 21. 54%| Plant ; other property, net| 12,457,000| 12,432,000| 10. 70%| 10. 96%| Rental machines, gross| 2,964,000| 3,422,000| 2. 55%| 3. 02%| Less: Accumulated depreciation| 1,538,000| 1,758,000| 1. 2%| 1. 55%| Rental machines, net| 1,426,000| 1,665,000| 1. 22%| 1. 47%| Plant, rental machines ; oth property, gross| 40,124,000| 40,289,000| 34. 46%| 35. 51%| Less: Accumulated depreciation| 26,241,000| 26,193,000| 22. 54%| 23. 09%| Plant, rental machines ; other property, net| 13,883,000| 14,096,000| 11. 92%| 12. 42%| Long-term financing receivables| 10,776,000| 10,548,000| 9. 26%| 9. 30%| Prepaid pension assets| 2,843,000| 3,068,000| 2. 44%| 2. 70%| Deferred taxes| 3,503,000| 3,220,000| 3. 01%| 2. 84%| G oodwill| 26,213,000| 25,136,000| 22. 51%| 22. 16%| Intangible assets, net| 3,392,000| 3,488,000| 2. 1%| 3. 07%| Deferred taxes| -| -| | | Deferred transition ; set-up costs ; other deferred arrangements| 1,784,000| 1,853,000| 1. 53%| 1. 63%| Derivatives, non-current| 753,000| 588,000| 0. 65%| 0. 52%| Alliance investments – equity method| 131,000| 122,000| 0. 11%| 0. 11%| Alliance investments – non-equity method| 127,000| 531,000| 0. 11%| 0. 47%| Prepaid software| 233,000| 268,000| 0. 20%| 0. 24%| Long-term deposits| 307,000| 350,000| 0. 26%| 0. 31%| Marketable securities| -| -| | | Other receivables| 208,000| 560,000| 0. 18%| 0. 49%| Employee benefit related| 493,000| 409,000| 0. 42%| 0. 6%| Prepaid income taxes| 261,000| 434,000| 0. 22%| 0. 38%| Other assets| 598,000| 663,000| 0. 51%| 0. 58%| Total investments ; sundry assets| 4,895,000| 5,778,000| 4. 20%| 5. 09%| Total assets| 116,433,000| 113,452,000| 100. 00%| 100. 00%| Taxes| 3,313,000| 4,216,000| 2. 85%| 3. 72%| Commercial paper| 2,300,000| 1,144,000| 1. 98%| 1. 01%| Short-term loans| 1,859,000| 1,617,000| 1. 60%| 1. 43%| Long-term debt – current maturities| 4,306,000| 4,017,000| 3. 70%| 3. 54%| Short-term debt| 8,463,000| 6,778,000| 7. 27%| 5. 97%| Accounts payable| 8,517,000| 7,804,000| 7. 31%| 6. 88%| Compensation ; benefits| 5,099,000| 5,028,000| 4. 8%| 4. 43%| Deferred income| 12,197,000| 11,580,000| 10. 48%| 10. 21%| Other accrued expenses ; liabilities| 4,535,000| 5,156,000| 3. 89%| 4. 54%| Total current liabilities| 42,123,000| 40,562,000| 36. 18%| 35. 75%| U. S dollar notes ; debentures| 24,192,000| 21,766,000| 20. 78%| 19. 19%| Other debt in Euros| 1,037,000| 1,897,000| 0. 89%| 1. 67%| Other debt in Japanese yen| 1,123,000| 1,162,000| 0. 96%| 1. 02%| Other debt in Swiss francs| 173,000| 540,000| 0. 15%| 0. 48%| Other currencies debt| 177,000| 240,000| 0. 15%| 0. 21%| Long-term debt| 26,702,000| 25,606,000| 22. 93%| 22. 7%| Less: net unamortized premium (discount)| -533,000| -531,000| -0. 46%| -0. 47%| Add: SFAS No. 133 fair value adjustment| 994,000| 788,000| 0. 85%| 0. 69%| Long-term debt before current maturities| 27,161,000| 25,863,000| 23. 33%| 22. 80%| Less: Current maturities| 4,306,000| 4,017,000| 3. 70%| 3. 54%| Long-term debt| 22,857,000| 21,846,000| 19. 63%| 19. 26%| Retire ; nonpension postretire benef obligs| 18,374,000| 15,978,000| 15. 78%| 14. 08%| Deferred income| 3,847,000| 3,666,000| 3. 30%| 3. 23%| Income tax reserves| 3,989,000| 3,486,000| 3. 43%| 3. 07%| Executive compensation accruals| 1,388,000| 1,302,000| 1. 19%| 1. 5%| Disability benefits| 835,000| 739,000| 0. 72%| 0. 65%| Derivatives liabilities| 166,000| 135,000| 0. 14%| 0. 12%| Restructuring actions| 347,000| 399,000| 0. 30%| 0. 35%| Workforce reductions| 366,000| 406,000| 0. 31%| 0. 36%| Deferred taxes| 549,000| 378,000| 0. 47%| 0. 33%| Enviromental accruals| 249,000| 249,000| 0. 21%| 0. 22%| Non-current warranty accruals| 163,000| 130,000| 0. 14%| 0. 11%| Asset retirement obligations| 166,000| 161,000| 0. 14%| 0. 14%| Other liabilities| 777,000| 841,000| 0. 67%| 0. 74%| Total other liabilities| 8,996,000| 8,226,000| 7. 73%| 7. 25%| Total liabilities| 96,197,000| 90,279,000| 82. 2%| 79. 57%| Common stock| 48,129,000| 45,418,000| 41. 34%| 40. 03%| Retained earnings| 104,857,000| 92,532,000| 90. 06%| 81. 56%| Treasury stock, at cost| 110,963,000| 96,161,000| 95. 30%| 84. 76%| Net unreal gains (losses) on cash flow hedge derivatives| 71,000| -96,000| 0. 06%| -0. 08%| Foreign currency translation adjustments| 1,767,000| 2,478,000| 1. 52%| 2. 18%| Net change retirement-related benefit plans| -23,737,000| -21,289,000| -20. 39%| -18. 76%| Net unrealized gains (losses) on mktble secur| 13,000| 164,000| 0. 01%| 0. 14%| Accum gains ; (losses) not affecting ret earns| -21,885,000| -18,743,000| -18. 0%| -16. 52%| Total stockholders' equity| 20,138,000| 23,046,000| 17. 30%| 20. 31%| Non-controlling interests| 97,000| 126,000| 0. 08%| 0. 11%| Total equity| 20,236,0 00| 23,172,000| 17. 38%| 20. 42%| Appendix 2 | | | Common-size Percent| Report Date| 12/31/2011| 12/31/2010| 12/31/2011| 12/31/2010| Services revenue| 60,721,000| 56,868,000| 56. 79%| 56. 94%| Sales| 44,063,000| 40,736,000| 41. 21%| 40. 79%| Financing revenue| 2,132,000| 2,267,000| 1. 99%| 2. 27%| Total revenue| 106,916,000| 99,870,000| 100. 00%| 100. 00%| Cost of services| 40,740,000| 38,383,000| 38. 10%| 38. 43%| Cost of sales| 14,973,000| 14,374,000| 14. 0%| 14. 39%| Cost of financing| 1,065,000| 1,100,000| 1. 00%| 1. 10%| Total cost| 56,778,000| 53,857,000| 53. 11%| 53. 93%| Gross profit| 50,138,000| 46,014,000| 46. 89%| 46. 07%| Selling, general & administrative – base expense| 20,287,000| 18,585,000| 18. 97%| 18. 61%| Advertising & promotional expense| 1,373,000| 1,337,000| 1. 28%| 1. 34%| Workforce reductions – ongoing expense| 440,000| 641,000| 0. 41%| 0. 64%| Retirement-related expense| 603,000| 494,000| 0. 56%| 0. 49%| Amortization expense-acquired intangible s| 289,000| 253,000| 0. 27%| 0. 25%| Stock-based compensation| 514,000| 488,000| 0. 8%| 0. 49%| Bad debt expense| 88,000| 40,000| 0. 08%| 0. 04%| Total selling, general & administrative exps| 23,594,000| 21,837,000| 22. 07%| 21. 87%| Research, development & engineering expenses| 6,258,000| 6,026,000| 5. 85%| 6. 03%| Intellectual property & custom development income| 1,108,000| 1,154,000| 1. 04%| 1. 16%| Foreign currency transaction gains (losses)| (513,000)| (303,000)| -0. 48%| -0. 30%| Gains (losses) on derivative instruments| 113,000| 239,000| 0. 11%| 0. 24%| Interest income| 136,000| 92,000| 0. 13%| 0. 09%| Net gains from securities & investments assets| 227,000| (31,000)| 0. 1%| -0. 03%| Other income & (expense)| 58,000| 790,000| 0. 05%| 0. 79%| Total other income (expense)| 20,000| 787,000| 0. 02%| 0. 79%| Interest expense| 411,000| 368,000| 0. 38%| 0. 37%| Total expense & other income| 29,135,000| 26,291,000| 27. 25%| 26. 33%| Income (loss) bef income taxes – U. S. oper s| 9,716,000| 9,140,000| 9. 09%| 9. 15%| Income (loss) bef inc taxes – Non-U. S. opers| 11,287,000| 10,583,000| 10. 56%| 10. 60%| Income (loss) from continuing operations before income taxes| 21,003,000| 19,723,000| 19. 64%| 19. 75%| U. S federal income taxes (benefit) – current| 268,000| 190,000| 0. 5%| 0. 19%| U. S. federal income taxes (benef) – deferred| 909,000| 1,015,000| 0. 85%| 1. 02%| Total U. S. federal income taxes (benefit)| 1,177,000| 1,205,000| 1. 10%| 1. 21%| U. S. state & local inc tax (benef) – current| 429,000| 279,000| 0. 40%| 0. 28%| U. S. state & local inc tax (benef) – deferred| 81,000| 210,000| 0. 08%| 0. 21%| Total U. S. state & local income taxes (benef)| 510,000| 489,000| 0. 48%| 0. 49%| Non-U. S. income taxes (benefit) – current| 3,239,000| 3,127,000| 3. 03%| 3. 13%| Non-U. S. income taxes (benefit) – deferred| 222,000| 69,000| 0. 21%| 0. 07%| Total non-U. S. ncome taxes (benefit)| 3,461,000| 3,196,000| 3. 2 4%| 3. 20%| Provision for income taxes| 5,148,000| 4,890,000| 4. 81%| 4. 90%| Net income (loss)| 15,855,000| 14,833,000| 14. 83%| 14. 85%| Weighted average shares outstanding-basic| 1,196,951. 006| 1,268,789. 388| 1. 12%| 1. 27%| Weighted average shares outstanding-diluted| 1,213,767. 985| 1,287,355. 388| 1. 14%| 1. 29%| Year end shares outstanding| 1,163,182. 564| 1,227,993. 544| 1. 09%| 1. 23%| Net earnings (loss) per share-basic| 13. 25| 11. 69| 0. 00%| 0. 00%| Net earnings (loss) per share-diluted| 13. 06| 11. 52| 0. 00%| 0. 00%| Dividends per share of common stock| 2. | 2. 5| 0. 00%| 0. 00%| Total number of employees| 433,362| 426,751| 0. 41%| 0. 43%| Number of common stockholders| 504,093| 523,553| 0. 47%| 0. 52%| Appendix 3 | | | Common-size Percent| Report Date| 12/31/2011| 12/31/2010| 12/31/2011| 12/31/2010| Net income (loss)| 15,855,000| 14,833,000| 79. 89%| 75. 88%| Depreciation| 3,589,000| 3,657,000| 18. 08%| 18. 71%| Amortization of intangibles| 1,226,000| 1,174,000| 6. 18%| 6. 01%| Stock-based compensation| 697,000| 629,000| 3. 51%| 3. 22%| Deferred taxes| 1,212,000| 1,294,000| 6. 11%| 6. 62%| Net loss (gain) on asset sales & other| (342,000)| (801,000)| -1. 2%| -4. 10%| Receivables (including financing receivables)| (1,279,000)| (489,000)| -6. 44%| -2. 50%| Retirement related| (1,371,000)| (1,963,000)| -6. 91%| -10. 04%| Inventories| (163,000)| 92,000| -0. 82%| 0. 47%| Other assets/other liabilities| (28,000)| 949,000| -0. 14%| 4. 85%| Accounts payable| 451,000| 174,000| 2. 27%| 0. 89%| Net cash flows from operating activities| 19,846,000| 19,549,000| 100. 00%| 100. 00%| Payments for plant, rental machines & other property| (4,108,000)| (4,185,000)| -20. 70%| -21. 41%| Proc from disp of plant, rental machines & oth prop| 608,000| 770,000| 3. 06%| 3. 4%| Investment in software| (559,000)| (569,000)| -2. 82%| -2. 91%| Purchases of marketable securities & other investments| (1,594,000)| (6,129,000)| -8. 03%| -31. 35%| Proceeds from disposition of m arketable securities & other investments| 3,345,000| 7,877,000| 16. 85%| 40. 29%| Non-operating finance receivables – net| (291,000)| (405,000)| -1. 47%| -2. 07%| Acquisition of businesses, net of cash acquired| (1,811,000)| (5,922,000)| -9. 13%| -30. 29%| Divestiture of businesses, net of cash transferred| 14,000| 55,000| 0. 07%| 0. 28%| Net cash flows from investing activities| (4,396,000)| (8,507,000)| -22. 5%| -43. 52%| Proceeds from new debt| 9,996,000| 8,055,000| 50. 37%| 41. 20%| Payments to settle debt| (8,947,000)| (6,522,000)| -45. 08%| -33. 36%| Sht-tm borrows (repays)-less than 90 days-net| 1,321,000| 817,000| 6. 66%| 4. 18%| Common stock repurchases| (15,046,000)| (15,375,000)| -75. 81%| -78. 65%| Common stock transactions, other| 2,453,000| 3,774,000| 12. 36%| 19. 31%| Cash dividends paid| (3,473,000)| (3,177,000)| -17. 50%| -16. 25%| Net cash flows from financing activities| (13,696,000)| (12,429,000)| -69. 01%| -63. 58%| Eff of exch rate chngs on cash & cash e quivs| (493,000)| (135,000)| -2. 8%| -0. 69%| Net change in cash & cash equivalents| 1,262,000| (1,522,000)| 6. 36%| -7. 79%| Cash & cash equivalents, beginning of year| 10,661,000| 12,183,000| 53. 72%| 62. 32%| Cash & cash equivalents, end of year| 11,922,000| 10,661,000| 60. 07%| 54. 53%| Cash paid during the year for income taxes| 4,168,000| 3,238,000| 21. 00%| 16. 56%| Cash paid during the year for interest| 956,000| 951,000| 4. 82%| 4. 86%| Appendix 4 | Trend Percent| Report Date| 12/31/2011| 12/31/2010| 12/31/2009| Services revenue| 110. 15%| 103. 16%| 100. 00%| Sales| 115. 05%| 106. 36%| 100. 00%| Financing revenue| 91. 46%| 97. 5%| 100. 00%| Total revenue| 111. 65%| 104. 29%| 100. 00%| Cost of services| 109. 68%| 103. 33%| 100. 00%| Cost of sales| 110. 05%| 105. 64%| 100. 00%| Cost of financing| 87. 30%| 90. 16%| 100. 00%| Total cost| 109. 25%| 103. 62%| 100. 00%| Gross profit| 114. 51%| 105. 09%| 100. 00%| Selling, general & administrative – base expense| 112. 36%| 1 02. 93%| 100. 00%| Advertising & promotional expense| 109. 66%| 106. 79%| 100. 00%| Workforce reductions – ongoing expense| 92. 83%| 135. 23%| 100. 00%| Retirement-related expense| 187. 27%| 153. 42%| 100. 00%| Amortization expense-acquired intangibles| 101. 40%| 88. 7%| 100. 00%| Stock-based compensation| 123. 26%| 117. 03%| 100. 00%| Bad debt expense| 59. 86%| 27. 21%| 100. 00%| Total selling, general & administrative exps| 112. 61%| 104. 22%| 100. 00%| Research, development & engineering expenses| 107. 53%| 103. 54%| 100. 00%| Intellectual property & custom development income| 94. 14%| 98. 05%| 100. 00%| Foreign currency transaction gains (losses)| -51300. 00%| -30300. 00%| 100. 00%| Gains (losses) on derivative instruments| 941. 67%| 1991. 67%| 100. 00%| Interest income| 144. 68%| 97. 87%| 100. 00%| Net gains from securities & investments assets| -202. 8%| 27. 68%| 100. 00%| Net real gains (losses) from real est activs| -| -| 100. 00%| Other income & (expense)| 16. 48%| 2 24. 43%| 100. 00%| Total other income (expense)| 5. 70%| 224. 22%| 100. 00%| Interest expense| 102. 24%| 91. 54%| 100. 00%| Total expense & other income| 113. 60%| 102. 51%| 100. 00%| Income (loss) bef income taxes – U. S. opers| 102. 02%| 95. 97%| 100. 00%| Income (loss) bef inc taxes – Non-U. S. opers| 131. 03%| 122. 86%| 100. 00%| Income (loss) from continuing operations before income taxes| 115. 80%| 108. 74%| 100. 00%| U. S federal income taxes (benefit) – current| 56. 6%| 40. 17%| 100. 00%| U. S. federal income taxes (benef) – deferred| 67. 79%| 75. 69%| 100. 00%| Total U. S. federal income taxes (benefit)| 64. 88%| 66. 43%| 100. 00%| U. S. state & local inc tax (benef) – current| 357. 50%| 232. 50%| 100. 00%| U. S. state & local inc tax (benef) – deferred| 43. 78%| 113. 51%| 100. 00%| Total U. S. state & local income taxes (benef)| 167. 21%| 160. 33%| 100. 00%| Non-U. S. income taxes (benefit) – current| 138. 01%| 133. 23%| 100 . 00%| Non-U. S. income taxes (benefit) – deferred| 89. 88%| 27. 94%| 100. 00%| Total non-U. S. income taxes (benefit)| 133. 2%| 123. 21%| 100. 00%| Provision for income taxes| 109. 23%| 103. 76%| 100. 00%| Income (loss) from continuing operations| -| -| 100. 00%| Net income (loss)| 118. 10%| 110. 49%| 100. 00%| Weighted average shares outstanding-basic| 90. 19%| 95. 60%| 100. 00%| Weighted average shares outstanding-diluted| 90. 49%| 95. 97%| 100. 00%| Year end shares outstanding| 89. 11%| 94. 07%| 100. 00%| Earnings (loss) per share from continuing operations-basic| -| -| 100. 00%| Net earnings (loss) per share-basic| 130. 93%| 115. 51%| 100. 00%| Earnings (loss) per share from continuing operations-diluted| -| -| 100. 0%| Net earnings (loss) per share-diluted| 130. 47%| 115. 08%| 100. 00%| Dividends per share of common stock| 134. 88%| 116. 28%| 100. 00%| Total number of employees| 98. 99%| 97. 48%| 100. 00%| Number of common stockholders| 92. 70%| 96. 28%| 100. 00%| Appen dix 5 | Trend percent| Report Date| 12/31/2011| 12/31/2010| 12/31/2009| Cash & cash equivalents| 97. 86%| 87. 51%| 100. 00%| Marketable securities| 0. 00%| 55. 28%| 100. 00%| Notes & accounts receivable – trade, net| 104. 13%| 100. 91%| 100. 00%| Short-term financing receivables| 113. 32%| 109. 00%| 100. 00%| Other accounts receivable| 129. 7%| 99. 21%| 100. 00%| Finished goods| 110. 51%| 81. 05%| 100. 00%| Work in process & raw materials| 102. 40%| 102. 96%| 100. 00%| Inventories| 104. 05%| 98. 24%| 100. 00%| Deferred taxes| 92. 54%| 90. 40%| 100. 00%| Prepaid expenses & other current assets| 133. 02%| 107. 10%| 100. 00%| Total current assets| 104. 07%| 98. 33%| 100. 00%| Land & land improvements| 106. 65%| 105. 43%| 100. 00%| Buildings & building improvements| 102. 33%| 101. 07%| 100. 00%| Plant, laboratory & office equipment| 103. 69%| 103. 04%| 100. 00%| Plant & other property, gross| 103. 39%| 102. 58%| 100. 0%| Less: accumulated depreciation| 105. 19%| 104. 05%| 100. 00 %| Plant & other property, net| 100. 02%| 99. 82%| 100. 00%| Rental machines, gross| 81. 07%| 93. 60%| 100. 00%| Less: Accumulated depreciation| 79. 03%| 90. 34%| 100. 00%| Rental machines, net| 83. 39%| 97. 37%| 100. 00%| Plant, rental machines & oth property, gross| 101. 33%| 101. 75%| 100. 00%| Less: Accumulated depreciation| 103. 19%| 103. 00%| 100. 00%| Plant, rental machines & other property, net| 98. 01%| 99. 51%| 100. 00%| Long-term financing receivables| 101. 24%| 99. 10%| 100. 00%| Prepaid pension assets| 94. 4%| 102. 23%| 100. 00%| Deferred taxes| 83. 50%| 76. 76%| 100. 00%| Goodwill| 129. 83%| 124. 50%| 100. 00%| Intangible assets, net| 134. 98%| 138. 80%| 100. 00%| Deferred transition & set-up costs & other deferred arrangements| 100. 68%| 104. 57%| 100. 00%| Derivatives, non-current| 133. 27%| 104. 07%| 100. 00%| Alliance investments – equity method| 113. 91%| 106. 09%| 100. 00%| Alliance investments – non-equity method| 26. 62%| 111. 32%| 100. 00%| Prepa id software| 74. 68%| 85. 90%| 100. 00%| Long-term deposits| 99. 03%| 112. 90%| 100. 00%| Other receivables| 33. 71%| 90. 76%| 100. 00%|Employee benefit related| 115. 46%| 95. 78%| 100. 00%| Prepaid income taxes| -| -| -| Other assets| 76. 37%| 84. 67%| 100. 00%| Total investments & sundry assets| 91. 00%| 107. 42%| 100. 00%| Total assets| 106. 80%| 104. 06%| 100. 00%| Taxes| 86. 59%| 110. 19%| 100. 00%| Commercial paper| 978. 72%| 486. 81%| 100. 00%| Short-term loans| 108. 65%| 94. 51%| 100. 00%| Long-term debt – current maturities| 193. 79%| 180. 78%| 100. 00%| Short-term debt| 203. 05%| 162. 62%| 100. 00%| Accounts payable| 114. 54%| 104. 95%| 100. 00%| Compensation & benefits| 113. 19%| 111. 61%| 100. 00%| Deferred income| 112. 7%| 106. 78%| 100. 00%| Other accrued expenses & liabilities| 86. 83%| 98. 72%| 100. 00%| Total current liabilities| 117. 00%| 112. 67%| 100. 00%| U. S dollar notes & debentures| 132. 58%| 119. 29%| 100. 00%| Other debt in Euros| 30. 26%| 55. 35%| 100. 00%| Other debt in Japanese yen| 71. 76%| 74. 25%| 100. 00%| Other debt in Swiss francs| 35. 74%| 111. 57%| 100. 00%| Other currencies debt| 62. 11%| 84. 21%| 100. 00%| Long-term debt| 111. 22%| 106. 66%| 100. 00%| Less: net unamortized premium (discount)| 101. 14%| 100. 76%| 100. 00%| Add: SFAS No. 133 fair value adjustment| 147. 70%| 117. 9%| 100. 00%| Long-term debt before current maturities| 112. 45%| 107. 08%| 100. 00%| Less: Current maturities| 193. 79%| 180. 78%| 100. 00%| Long-term debt| 104. 22%| 99. 61%| 100. 00%| Retire & nonpension postretire benef obligs| 115. 18%| 100. 16%| 100. 00%| Deferred income| 108. 00%| 102. 92%| 100. 00%| Income tax reserves| 109. 98%| 96. 11%| 100. 00%| Executive compensation accruals| 119. 66%| 112. 24%| 100. 00%| Disability benefits| 105. 03%| 92. 96%| 100. 00%| Derivatives liabilities| 25. 58%| 20. 80%| 100. 00%| Restructuring actions| 78. 68%| 90. 48%| 100. 00%| Workforce reductions| 89. 9%| 99. 27%| 100. 00%| Deferred taxes| 116. 81% | 80. 43%| 100. 00%| Enviromental accruals| 101. 63%| 101. 63%| 100. 00%| Non-current warranty accruals| 129. 37%| 103. 17%| 100. 00%| Asset retirement obligations| 143. 10%| 138. 79%| 100. 00%| Other liabilities| 99. 49%| 107. 68%| 100. 00%| Total other liabilities| 102. 01%| 93. 28%| 100. 00%| Total liabilities| 111. 51%| 104. 65%| 100. 00%| Common stock| 115. 11%| 108. 63%| 100. 00%| Retained earnings| 129. 61%| 114. 38%| 100. 00%| Treasury stock, at cost| 136. 58%| 118. 36%| 100. 00%| Net unreal gains (losses) on cash flow hedge derivatives| -14. 6%| 19. 96%| 100. 00%| Foreign currency translation adjustments| 96. 24%| 134. 97%| 100. 00%| Net change retirement-related