Essay on television news Essay Example for Free

Essay on television news Essay Television news and current affair programs have become an essential part of our everyday lives in this cutting edge society today. Nine Networks A Current Affair program is a 30-minute long current affairs program covering politics, crime, human rights, science, technology and many other areas. It is an example of a consumer-oriented program, which seeks to appeal to viewers to get the ratings and thereby generate revenue through advertising for the Nine Network. I will use this current affairs program broadcast on the 2nd November to discuss how the codes of television reinforce the narrative elements in one of the stories presented on the television screen. The current affair story I have chosen which runs for five minutes and eight seconds is about an out-of-control 15-year old Stacey who has been locked in a wire cage for her past seven years. She is severely intellectually handicapped and her mother is forced to lock her up for her own safety reasons. She claims that the Government does not provide sufficient disabilities services and resources in areas such as rural South Australia. Throughout the story, viewers are positioned to sympathize with Staceys mother, Kerry. She is portrayed as a victim of the lack of disabilities services, desperately pleading the government to take action. The different camera angles and movement, selection of film footage, background music, voice-overs and word choice are examples of techniques used to enhance the narrative elements in the story such as characterization, point of view, setting, structure and many more. The two main production codes I will focus on are technical and audio codes. The characters of this story include the current affair presenter, Stacey the 15-year old girl, her mother Kerry, a family friend, South Australia Disability Service Minister and Chris Hill the on-spot reporter and interviewee. Various shots such as close-up, longand panning shots are used to show the main character of the story Stacey behind her cage. She is shown clinging on to the wire cage like a prisoner without freedom. Viewers are in this way positioned to feel sorry for her. We normally associate imprisonment with crime and wrong doings. Here, we are presented with an innocent victim suffering from Down syndrome, being denied the basic human right of freedom through no fault of her own. There are also shots filming interviews with Staceys mum, Kerry. The close-up shots showing Kerrys weary and desperate face suggests to viewers that she is also suffering from locking her daughter up in the cage for her own safety and this allows viewers to observe the physical effect of the stressful situation. This makes viewers feel sorry for her as the mother of a handicapped daughter. The shots showing South Australias Disability Service Minister busy flipping through his pile of work tells viewers that the minister is very busy and he has other community issues to look at. It shows that the need to help Stacey is low down in the ministers listed priorities. Viewers react by feeling angered because the government cannot provide these services for families in need. Seeing the Minister in his city office environment contrasted with the rural setting of the Staceys cage, viewers can see the huge gap in the importance placed in addressing this problem. The melancholy background music, designed to raise emotions, is also played whenever Stacey appears on the scene, further emphasizing the sufferings of the mother and daughter. The setting of the story is also enhanced by shots showing rural South Australia and Staceys wire cage. The long shots are used to show location as isolated and deserted from the major town centres and the voice of Chris Hill further enhances it. There are footages showing the surroundings of the Staceys house, suggesting the danger Stacey faces if she is let loosed. The close up shots of the wire cage and the faces behind the cage; and the repetition shots of the opening of the cage reinforce the prison setting Stacey has been living in for the past seven years. The point of view in the story is 90% focused on Staceys mother, Kerry and their family friend. Viewers are persuaded to side with them in arguing against the government for the lack of disability services such as day care programs, transport services and other disability services. The footage showing Stacey interacting with the camera as she interrupts the normal narrative flow of the camera work by covering the camera lens show her behaviour as uncontrolled and undisciplined. It also demonstrates clearly to the viewers that Stacey has a lack of understanding of the appropriate behaviour and responses in the world around her. This reinforces the viewpoint of Staceys mother that this problem is not exaggerated. The current affair presenter also commented on the lack of support provided, further enhancing that the government is not doing anything. The sympathetic tone is created through the selection of words chosen by the voice-over and presenter. For example, Stacey home is described as a domestic detention centre. This emotive language is normally associated with asylum seekers arriving in our country. Other selective words and adjectives used include barbaric when referred to the action of locking Stacey up and Wire Cage when referred to Staceys house. This colourful language is used to make the story seem more interesting and touching. There is also a personal testimony recounting an incident from the past to demonstrate the past and present difficulties faced by Kerry and many other interviews to make the story more truthful. Values and attitudes of the Australian government are also reinforced using technical and audio codes in the story. The Australian Government likes to think of themselves as caring, helpful and supportive. They believe that they have one of the best healthcare systems in the world. This story sets on to show one of the examples of the system failing to provide services for all in the community. In conclusion, the current affair story is put together using the different narrative techniques such as characterization, setting, point of view and tone and it is reinforced through the use of television production codes such as technical and audio codes.

Three Fundamental Functions Of Business Organizations Management Essay

Three Fundamental Functions Of Business Organizations Management Essay BMW stands for Bayerisch Motoren Werke AG established in 1916. The company was first known as a manufacturer of aircraft engines. In 1928, it started focusing on car manufacturing with the purchase of the Eisenach motor vehicle factory. The BMW 3/15 which was a version of the Austin Seven, from British automaker Austin was the companys first passenger car. It operated with a 15 horsepower engine and had a top speed of 45 miles per hour. BMW began to design and build its own cars in the 1930s. The company developed its own engine plant that allowed BMW to build both sports cars and sedans without using engines made by other companies. The 327, 328 and 335 models were advanced technologically that made BMW be recognized as a major European automaker. During WWII BMW was forced to produce motorcycles and engines for the German army. They had to stop car production until the 1950s. After WWII, BMW had to restart their car production from zero. In 1952, they began producing the large 501 luxury sedan. It was the first car to be mass-produced in the West Germany. The successful 501 was followed by the 502 sedan in 1954 and the popular 507 roadster in 1956. This series help the company regain the prominent position for sports and luxury cars. Today BMW cars is recognized as a worldwide luxury brand with a high reputation for quality and by their marketing slogan, The Ultimate Driving Machine. BMW, MINI and Rolls-Royce are three of the strongest premium brands of BMW nowadays. BMWs car is a superior product in terms of aesthetic appeal, dynamic performance, technology and quality. It underlines the companys leading position in innovation and technology. BMW Group Production Network currently includes 29 production and assembly plants in 14 countries on four continents with a network of more than 12,000 suppliers all over the world. The integration of production and logistics systems within the individual BMW Group locations provides advantages for the customer. Higher efficiency in the supply of production materials helps accelerate the delivery of cars to customers. Each plant contributes to the smooth operation of the global production network. The main locations of BMW Group Production Network include: USA: Spartanburg, South Carolina. Germany: Dingolfing, Berlin, Eisenach, Landshut, Munich,  Regensburg and Wackersdorf Brasilia: Manaus. Italy:   Cassinetta India: Chennai Great Britain: Goodwood, Hams Hall Oxford Swindon Austria: Graz, Steyr. Indonesia: Jakarta Russia: Kaliningrad Malaysia: Kuala Lumpur Thailand:   Rayong South Africa:   Rosslyn China: Shenyang (Dadong) and Shenyang (Tiexi) (Adapted from www.bmwgroup.com; BMW group (2011); http://www.ehow.com/about_5145304_bmw-cars.html ) Operations management as a set of decision making 2.1. What resources will be needed and in what amount? 2.1.1. What resources will be needed? The production process is concerned with transforming a range of inputs into those outputs that are required by the market. This involves two main sets of resources the transforming resources, and the transformed resources. Transformed resources include those that are transformed in some way by the operation to produce the goods or services that are its outputs. Three types of resource that may be transformed in operations are: materials the physical inputs to the process (manufacturing) information that is being processed or used in the process customers the people who are transformed in some way (common in the service business) Transforming resources include those that are used to perform the transformation process. The two types of transforming resource are: staff the people involved directly in the transformation process or supporting it (labour) facilities land, buildings, machines and equipment (capital) (http://www.differencebetween.com/difference-between-transformed-resources-and-vs-transforming-resources) In the case of BMW group, the resources necessary for their car production can be summarized in table1 Resources Types Notes Transformed Iron, Steel, Aluminum, Rubber etc Energy Car Body Paint Engine Other parts For the production of car body, bolt, rivet, wire, seat and other parts etc Transforming Land Engine production plants, body shops, paint shops and assembly plants Automated machines and other related machines Equipment and tools -Computers and supportive software Workers, managers, supervisors, inspectors -To build different types of car manufacturing plants 2.1.2. In what amounts? The amounts of resources required for car manufacturing largely depends on the demand of the product. The number of the goods/ services the company intends to produce and deliver to customers and the variety of products to be produced will determine the amounts of resources needed within a defined production system. To make decisions on the amounts of resources needed for manufacturing the product(s), operations managers should consider carefully two elements: selection of production process (operations strategy) and forecasting of demand of products/services. Selection of production process: There are three basic types of production methods or process: Make-to-stock (mass production): this method commonly goes along with line-flow strategy in which high volumes of products of relatively few standardized products are manufactured base upon relatively accurate anticipation of future demand for those products. This requires the firm to hold products in stock for immediate delivery. The competitive priorities of this method are stable quality and low cost. Since the demand for the products have been well anticipated so does the amounts of required resources (Krajewsky et al, 1999). Make-to-order: this method is commonly used by firms with flexible flow that produce low-volume, high-variety of goods/services according to customer specifications. In this direction, high level of customization is the major competitive priority of this method (http://www.web-books.com/eLibrary/NC/B0/B66/098MB66.html) Assemble-to-order (mass customization): this method is used to produce goods/services with many options from a relatively few number of assemblies and components in line with the customers specific order. Assemblies and components are held in stock until specific orders arrives. Then respective products will be assembled with appropriate assemblies and components. This method is relevant to high volume and relatively high variety of good/services (Krajewsky et al, 1999). Forecasting: In order to determine more accurately the amounts of resources needed for the product/service the organization is to offer to the market, it is vital to forecast the demand of this product/service. Demand forecast is usually developed by the marketing department and its accuracy will be the crucial element of the success of capacity management plans implemented by operations. Forecast provides a strong basis for determining the capital invested in the plants, machines and equipment, purchasing the right amount of materials and employing the right amount of labour (Albert Porter, 2010). Production methods and capacity planning of BMW group as means to define amounts of resources needed. In terms of production method, BMWs leading production principles includes horizontal and vertical integration of functions, team work organisation, visual management, built in quality processes, pull system of procurement and continuous improvement. This can be seen as a hybrid production system with a strong German element in product, production technologies and quality standards, a strong part of Japanese principles in process and work organisation and an American part of vertical management hierarchy. BMWs production approach is characterized with high quality, high productivity and high product flexibility which is closed to the mass customization model of production (Ludger Pries, 2002). With this production approach today BMW produces at least 80 percent of its vehicles to customer orders. (http://www.bmwgroup.com/e/nav/index.html?../0_0_www_bmwgroup_com/home/home.htmlsource=overview). With regards to capacity planning BMW develops a well-elaborated strategic-planning process where products and sales are forecast before production capacity planning. Derived from the results of market research, planners decide on the set of future products and estimated sales figures during their life cycle for different geographical markets with the necessary flexibility reserves (i.e. difference between expected demand and available capacity based on their experience). This serves as data for plant loading in which planners allocate the products to the plants and determine the required production capacities including future amount of resources needed and the way to procure them (Bernhard Fleischmann, 2006). 2.2. When will each resource be needed? When should the work be scheduled? When should materials and other supplies be ordered? When is corrective action needed? All those above questions are connected with materials management, scheduling and quality control the operations manager should carefully consider once the production process is put in place. Master Scheduling Plan and Work Scheduling Forecast of future demand of sales helps companies set up an overall production capacity plan which in turn tailored into Master Scheduling Plans (MSP) with an intermediate timeline where the quantity of specific end-products and the time to produce them are defined. It is the major control of all production activities. To create an MSP, it is important for managers to know where materials are located and how they flow at every step in the production process. For this purpose, they determine the routing of all materials-that is, the work flow of each item based on the sequence of operations in which it will be used (Anil Kumar et al, 2009). On the other hand, as it is necessary for managers to control the timing of all operations, they have to build work schedules for this purpose. Scheduling allocates resources over time to perform specific tasks (Krajewsky et al, 1999). Managers determine jobs to be performed during the production process, allocate tasks to work groups, set timetab les for the accomplishment of task and ensure that resources are to be adequately provided when and where they are in need. Two most popular techniques used in scheduling are Gantt and PERT charts (http://www.webbooks.com/eLibrary/NC/B0/B66/098MB66.html) Inventory control It is disastrous if a manufacturer runs out of the materials it needs for production. However, keeping large inventories of materials is wasting money because the firm has to pay for those materials in stock and find places to store them. Therefore, to remain competitive, firms have to manage inventories efficiently. They need to ensure the availability of materials for production and at the same time not to waste money due to large inventory. Achieving the balance between those two risks rests on the inventory management and control. There are three types of inventories including (i) raw materials; (ii) purchased goods and (iii) finished parts and components. The various types of inventory to maintain the continuity in the production process is illustrated in fig 1. Inventory Raw materials Process Inventory Parts + Purchased items Process Finished products Market Inventory Fig 1: Inventory of materials (www.newagepublishers.com/samplechapter/001386.pdf) There are two common inventory-control methods as follows: Just-in-Time It is seen as the modern concept of inventory planning where the materials should be purchased and brought in the stores just before it enters the production or sold out so that inventory cost is negligible. The zero inventories are the ideal planning because the costs of holding inventory are significantly cut. JIT, however, requires considerable communication and cooperation between the manufacturer and the supplier. The manufacturer has to know what it needs, and when. The supplier has to commit to supplying the right materials, of the right quality, at exactly the right time (Albert Porter, 2010). . Material Requirements Planning However, in the present situations in any of the organization particularly manufacturing organization, it is not absolutely possible to keep no inventory of materials required for production. Another inventory control method is commonly used called Material Requirements Planning (MRP). The MRP is a technique relies on a computerized program both to calculate the quantity of materials needed for production starting from the raw materials, finished parts, components, sub-assemblies and assemblies as per Bill of Materials (BOM) and to determine when they should be ordered or made to support a Master Production Schedule (MPS) (Krajewsky et al, 1999; Anil Kumar et al, 2009). The basic MRP focuses on material planning, but there is a more sophisticated system-called Manufacturing Resource Planning (MRP II)manufacturing resource planning (MRP II)System for coordinating a firms material requirements planning activities with the activities of its other functional areas.-that goes beyond material planning to help monitor resources in all areas of the company. Such a program can, for instance, coordinate the production schedule with Human Resource managers forecasts for needed labor (www.newagepublishers.com/samplechapter/001386.pdf) Quality control Quality control of materials The quality of the product largely depends upon the quality of the materials used to produce that product. Therefore, it is a very important for the firm to purchase the right quality of materials. Quality control of materials aims at delivering product at higher quality with lower cost. It also helps decide the selection of suppliers and the relationship between buyers and suppliers. In quality control, the quality assurance is decided by inspection and checking. The various properties of materials are decided by the standards they should follow. (www.newagepublishers.com/samplechapter/001386.pdf) Total quality management Today, quality is an efficient weapon firms use to compete with their rivals in the market. Total Quality Management (TQM) or quality assurance includes all managerial steps that firms take to ensure that its goods or services are of high quality to adequately meet customers need). TQM encompasses the following three principles: Customer -driven definition of quality: firms encourage customers to tell them how to make the right product. Firms also track customers feedback about their products (via surveys and other methods) to know what they need to improve. Employee involvement: commitment of employee in ensuring quality of their tasks and in detecting and correcting quality problems is very important. Training and other tools will help employee be actively involved in quality assurance process. Continuous improvement: the commitment to making constant improvements in the design, production, and delivery of goods and services ((Krajewsky et al, 1999). A range of tools have been developed to control quality and indentify areas of improvement such as Statistical Process Control, Benchmarking and Taguchi`s Quality Lost Function method. In addition, a set of standards called ISO has been devised by the International Organization for Standardization to help companies comply with quality documentation standards and get recognition worldwide. There are a set of standards: ISO 9000 family for quality management and ISO 14000 for environmental management. (http://worldacademyonline.com/book/applied_operations_management_manufacturingand_services/). Materials Management and Quality Management at BMW BMW forecasts their new products and demand of sale for capacity planning and allocate the products to their plants worldwide. Each plant then develops the MSP based upon the new orders and demand of sales. The MSP determines explicitly the quantity and the time of the resources (materials and capacity) needed based on the sequence of operations. In terms of inventory management, since BMW adopts a hybrid production system, MRP is used to calculate the quantity of materials needed for production and to determine when they should be ordered or manufactured with the integration of JIT principle to reduce inventory. In each location, BMW manufacturing plant establishes a network of first tier suppliers located nearby, for instance the Spartanburg plant has 18 first tier suppliers that are located in the nearby industrial park and committed to provide ordered materials and components with high quality and right in time. E-orders and purchasing are used to communicate and do the transacti on with its suppliers. As a result, buffers between body shop and painting is18 units and between painting and assembly is120 units. The suppliers are forced to recompense the rigidity of the production system with their own and extensive buffer (Ludger Pries). This mixed inventory control method allows BMW to develop a mass customization production system characterised with high quality, high productivity but also high flexibility. Quality is the strongest competitive advantage of BMW cars. For BMW to achieve premium quality, it is important to recognize any defects/mistakes before production begins and to correct them. Therefore the company has adopted sophisticated computer-aid quality inspection technology to control the quality of purchased parts, engines and all the semi-products and components going from the press, body shop to the final assembly with start-of-the-art inspection device such as 3D CAD, mobile optical TRITOPCMM system (http://www.capture3d.com/file-capture3d-bmw-assemblyline.pdf). Computer-aided inspection systems contribute significantly to saving rework time, optimizing processes and thereby reducing production costs. BMW group also complies to ISO 9000 and IS014000 for quality and environmental management system ((Ludger Pries, 2002). 2.3. Where will the work be done? The selection of plant location or facility location is a key strategic decision for an organization. The location decision is costly and time consuming to change. This is because large investment is made to buy the land and to construct buildings. Companys competitiveness will be affected by its location since it will impact costs such as transportation and labour. Improper location of a plant may lead to loss of competitiveness, and eventually waste of all investments put in land, buildings and machinery. Therefore, before making decision for the selection of a plant location, long range forecast about the future demands should be made. The plant location should be based on the firms expansion plan and policy, diversification plan of products, changing market conditions, changing sources of raw materials and other resources and many other factors. The key following factors are seen important for location decision: Proximity to customers (extremely important in service business) Proximity to suppliers Proximity to labour Infrastructure and transportation availability (Albert Porter, 2010; Anil Kumar et al, 2009). BMW group and its worldwide plant locations Needless to say, BMW group has seen the development of its plant location worldwide network as a key strategic planning to enhance its competitiveness in the automobile global market. From their dominant position in Europe with their plants located in strategic countries such as Germany (its headquarter), Britain, Austria and Italia, the company spread their manufacturing to strategic countries of all over other continents (except Australia) for instance the US for North America, Brasilia for South America, South Africa for Africa, Malaysia, Indonesia, Thai for Southeast Asia, India for East Asia and recently China for North Asia. In each country, BMW has meticulously identified most suitable area for the location of their strategic manufacturing plant corresponding to their expansion plan and policy and the diversification of their products. Proximity to suppliers, labour and the land, infrastructure and labour availability are factors the group always considers when making plan loc ation decision.

The True Tragic Hero of Sophocles Antigone :: Antigone essays

Antigone: The True Tragic Hero Antigone, is the drama written by Sohpocles. There is still a great debate on who is the true tragic hero in Sophocles' Antigone, Creon or Antigone. Many people believes that it must be Antigone, herself. This is because Antigone is an outstanding example of someone who did what she thought was right, while she was among fools, many hardships, and people who were discouragingly uncourageous. When the king Creon ordered that the body of Polyneices, Antigone's brother, be left to rot unburied because he had died as a traitor, she tried to buried him even she knew that she would be punished. She believed that a dead person's soul could not rest if that person's body was not buried so she chooses to challenge a powerful Creon, the king of Thebes in order to let her brother rest peacefully. This presents a huge problem for Antigone; she feels she must obey the laws of the gods and bury her brother, but the penalty would be earthly death. To me, Antigone is a hero, what she did for her bro ther was very respectful, not many could have the strength to do so in the same situation. However, I believe the true tragic hero in Sophocles' Antigone is Creon, not Antigone. Creon, as king of Thebes, is at the top of the social ladder. Yet, not only is he king, he is also human and possesses frailties, which qualify him to make serious mistakes, and he possesses talents, which allow him also to excel. Hence, Creon is neither overly good nor bad. Appropriately, Creon's station as king place shim in a position of great power, influence and responsibility. The extent of this power was quite evident when he sentenced Antigone to death for disobeying his proclamation. Creon's tragic flaw was his hubris or his pride and arrogance in the face of divine powers. His downfall began when he denied the basic divine right of burial to Polyneices and was cemented when he condemned Antigone for her opposition to his law. When one closely examines Antigone's reasons for burying her brother, it becomes clear that she was simply demonstrating her love, honor, and loyalty to her family. However, the reason that Creon is angered is that he feels injured and insulted that Antigone flagrantly and publicly disobeyed him.

A Turning Point Essay -- Personal Narrative Essay

A Turning Point A melting pot of Asian and European culture, a land of scientific growth and opportunity, and a place grown rich with custom and tradition, Singapore is a country unlike any other. Traveling to Singapore for the Second APEC Youth Science Festival, I encountered an environment where people of different backgrounds come together, a fusion of ideas and insight, and a piece of artwork painted rich with the colors of each individual culture. Upon my return to the United States, I brought with me an enhanced cultural awareness, a greater understanding of the international scientific community, a wealth of knowledge, as well as numerous life-long friendships. The cultural benefits of the APEC Youth Science Festival are innumerable. Having virtually no previous understanding of Asian customs and traditions, I found the various cultural performances educational and truly amazing. A breathtaking musical presentation by Korean drummers and a colorful parade of traditional Indonesian costumes were two of the more memorable performances. Throughout the cultural presentations, I was in awe of the distinct differences that became increasingly apparent between each of the individual Asian cultures. My favorite part of the trip was my overnight stay with a Sri Lankan family. With my family I visited Little India, one of the liveliest districts in Singapore where traditional Indian culture is ... ... New Zealand, I have developed a vast network in just two weeks. Sharing ideas and insight, culture, and new experiences has brought us all together despite our differences. Together we did everything including riding "The Venturer" at the Singapore Science Center, researching Nepal Virus, and traveling on a Night Safari. I am amazed at how much I have learned in two weeks, and I know I will cherish this experience for a lifetime. In the future I hope only to enhance my cultural awareness, work to promote international scientific collaboration, express my appreciation for the vital work done by organizations such as APEC, and stay in close contact with the wonderful friends I made in two amazing weeks overseas.

Ways in Which the Use of Teams Helps Cadbury Achieve its Strategic Aims and Objectives :: Cadbury Work Ethics Employment Essays

Ways in Which the Use of Teams Helps Cadbury Achieve its Strategic Aims and Objectives 1) Explain the meaning of the â€Å"terms† and â€Å"groups†. Teams ===== A team is a group of people with a common purpose who have complimentary skills. Working as a team has many advantages such as: * Distributing the workload * Reinforcing individual capabilities * Creating partipation and involvement * Improve productivity and pride in what they do * Respond more quickly to change * Reduce middle management level * Draw on expertise of members. There are two types of teams: Formal – a formal team is created for a specific purpose e.g. The employees at Cadbury world work as a formal team because they work together to meet their aim of ‘creating brands that people love’ Informal – an informal team develops in a less structured way e.g. a group of students at Josiah mason college may start a discussion on the way the teachers teach and are not happy with it they might get together and do something about it. Groups and teams are similar, however, teams require coordinated effort while individuals may work independently in groups. Groups A group is when two or more people work together on a certain task E.g. a group of students work together to form a presentation. But a group doesn’t have to work together or achieve something a group can also mean something else for e.g. There can be two different places in a cafà © one for smokers and one for non-smokers 1 Describe the ways in which the use of teams may help the organisation achieve its strategic aims and objectives. Working as a team: advantages of a teamwork and cooperation and to identify and understand the stages of team development. For a team to achieve its goals, its members must do more than just carry their own weight. They must involve, support, and share information with there team mates. And they must commit to the success of the entire team, not simply their own success. Working as a team clearly teaches employees the personal, interpersonal, and organizational advantages of working together whether in teams or work groups. Advantages of working as a team * Distributing the workload * Reinforcing individual capabilities * Creating participation and involvement * Improves motivation * Share knowledge and understanding * Provides opportunity for managers and supervisors * It also encourages innovation I will use Cadbury as an example to describe the ways in which the use of teams may help the organisation achieve its strategic aims and objectives. Cadbury Schweppes aim is: ‘ Work together to create brands that people love’ Objectives. †¢ Promote ethical business practices †¢ Respect the environment and communities in which we operate

Direct and Indirect Cash Flow Essay

(According to â€Å"According to â€Å"What Is The Difference Between The Direct Method And The Indirect Method For The Statement Of Cash Flows?† (2004-2014),) â€Å"The main difference between the direct method and the indirect method involves the cash flows from operating activities, the first section of the statement of cash flows. (There is no difference in the cash flows reported in the investing and financing activities sections.) Under the direct method, the cash flows from operating activities will include the amounts for lines such as cash from customers and cash paid to suppliers. In contrast, the indirect method will show net income followed by the adjustments needed to convert the total net income to the cash amount from operating activities. The direct method must also provide a reconciliation of net income to the cash provided by operating activities. This is done automatically under the indirect method. Nearly all corporations prepare the statement of cash flows using the indirect method.† The reason for financial accounting standards board allows both methods are simple. Both statements of cash flow preparation methods are allowable under basic accounting standards. â€Å"The Financial Accounting Standards Board, however, prefers the direct method for the statement of cash flows. FASB prefers the method because business stakeholders find the statement easier to read than the indirect statement of cash flows. Companies prefer the indirect method as it is easier to prepare since the financial information is already at hand. Companies can include disclosures with either the direct or indirect statement of cash flows. These disclosures can detail any non-cash financing and investing activities. FASB often requires disclosures with the statement of cash flows. Companies can prepare a secondary statement noting any significant non-cash activities for stakeholders† (â€Å"Direct Vs. Indirect Cash Flow Method†, 1999-2014). References What is the difference between the direct method and the indirect method for the statement of cash flows? (2004-2014). Retrieved from http://www.accountingcoach.com Direct vs. Indirect Cash Flow Method. (1999-2014). Retrieved from http://www.ehow.com

Accounting Research Paper

Accounting Research Paper Dr. Pepper Snapple Group vs. The Coca Cola Company Amanda Herring Tarleton State University Declaration Statement I hereby certify that this paper constitutes my own product, that where the language of others is set forth, quotation marks so indicate, and that appropriate credit is given where I have used the language, ideas, expressions or writings of others. Amanda Herring ID #000078948Zip Code 76707 Table of Contents Title Page1 Declaration Statement2 Table of Contents3Abstract4 Purpose & Objective5 Introduction6 Statement of Problem7 Financial Analysis8 SWOT Analysis13 Decision16 Implementation & Monitoring17 Conclusion18 Bibliography19 Appendix21 Abstract This paper will discuss the financial differences between the Dr. Pepper Snapple Group and the Coca Cola Company, two drink manufacturing companies. It will take into account all of the financial information for 2010 and 2011 for each company, as well as current trends found for both of the companies.F inancial statements for both companies will be included, as well as analysis of both companies’ financial situations. A decision will be made at the end to determine which company is best suited to add to an investment portfolio and an explanation will be given as to why this company has been chosen. Purpose & Objective Dr. Pepper Snapple Group and The Coca Cola Company were chosen because of their sizes and product lines are relatively similar. They are both drink manufacturers with a wide array of different drink products under their label.It is hoped that with this research, one of these companies has a better market position than the other so that it can be recommended to the reader as an addition to their investment portfolio. Introduction The world is currently in a crisis like no other when it comes to the state of the global economy, as is the United States economy. There is always a need to analyze the current situation of companies so that investors and company exec utives know what is going on with the financials and what type of leverage the company currently has, as well as what type of leverage they will have in the future.There is also always a need to compare one’s company to that of similar companies who are competitors in the industry. The purpose of this paper is to compare and contrast Dr. Pepper Snapple Group and The Coca Cola Company, both drink manufacturing companies, so that a decision can be made about which one to invest in. â€Å"The Coca Cola Company (NYSE: KO) is an American multinational beverage corporation and manufacturer, retailer and marketer of non-alcoholic beverage concentrates and syrups† (Wikipedia. org) and was â€Å"founded and headquartered in Atlanta, Georgia† (Cooper, Ford, & Stephens, 2007). In 1886, pharmacist John Pemberton created the soft drink Coca-Cola by combining soda water, lime, cinnamon, coca leaves, and Brazilian shrub weeds. The drink was originally sold in Atlanta in Jacobà ¢â‚¬â„¢s Pharmacy for five cents a glass as a soda fountain drink† (Cooper, Ford, & Stephens, 2007). â€Å"Today Coca-Cola’s reach spreads far beyond Georgia and even the United States; the company has become one of the world’s most recognizable corporations† and â€Å"the Coca-Cola brand is one of the five most recognized symbols† while the company â€Å"has early 400 brands in over 200 countries† (Cooper, Ford, & Stephens, 2007). The Dr. Pepper Snapple Group (NYSE: DPS) is â€Å"an American soft drink company, based in Plano, Texas† that was â€Å"spun off from Britain’s Cadbury Schweppes† who â€Å"in 2006 and 2007†¦purchased the Dr Pepper/Seven Up Bottling Group† (Wikipedia. org). They are â€Å"the leading producer of flavored beverages in North America and the Caribbean† with their success being â€Å"fueled by more than 50 brands that are synonymous with refreshment, fun and flavor† having â€Å"6 of the top 10 non-cola soft drinks, and 11 of 14 leading brands are No. in their flavor categories† (investor. drpeppersnapple. com). Along with their â€Å"flagship Dr Pepper and Snapple brands†, their â€Å"portfolio includes Sunkist soda, 7Up, A&W, Canada Dry, Crush, Mott’s, Squirt, Hawaiian Punch, Penafiel, Clamato, Schweppes, Rose’s and Mr & Mrs T mixers† (investor. drpeppersnapple. com). Problem Statement The problem is deciding which of the two companies to invest money in their stock. With so many different stocks to choose from, there is a need to get the most out of investments these days.In order to come up with this decision, research is pertinent. Extensive research must be done by looking at both companies’ financial information in the form of statement analysis, ratio analysis, financial leverage, and comparative analysis, along with a SWOT analysis of both companies and comparing their strategies. The problem is havi ng two very similar companies to choose from, and deciding which is going to be worth investing in the short and long term. Financial AnalysisCommon Size Income Statements & Horizontal and Vertical Analysis Table [ 1 ]: Coca Cola Company Income Statement Analysis (dollars in millions except for per share data) Year Ended Dec 31,| 2011| Vertical Analysis| 2010| VerticalAnalysis| 2009| % Change 11/10| % Change 10/09| Net Operating Revenues| $46,542| 100%| $35,119| 100%| $30,990| 33| 13| Cost of goods sold| 18,216| 39. 1| 12,693| 36. 1| 11,088| 44| 14| Gross Profit| 28,326| 60. 9| 22,426| 63. 9| 19,902| 26| 13| Gross Profit Margin| 60. 9%| | 63. 9%| | 64. 2%| | |Selling, general and administrative expenses| 17,440| 37. 5| 13,158| 37. 5| 11,358| 33| 16| Other operating charges| 732| 1. 6| 819| 2. 3| 313| | | Operating Income| 10,154| 21. 8| 8,449| 24. 1| 8,231| 20| 3| Operating Margin| 21. 8%| | 24. 1%| | 26. 6%| | | Interest Income| 483| 1| 317| 0. 9| 249| 52| 27| Interest Expense| 417 | 0. 9| 733| 2. 1| 355| (43)| 106| Equity income (loss) – net| 690| 1. 5| 1,025| 2. 9| 781| (33)| 31| Other income (loss) – net| 529| 1. 1| 5,185| 14. 8| 40| | | Income Before Income Taxes| 11,439| 24. | 14,243| 40. 6| 8,946| (20)| 59| Income taxes| 2,805| 6| 2,384| 6. 8| 2,040| 18| 17| Effective tax rate| 24. 5%| | 16. 7%| | 22. 8%| | | Consolidated Net Income| 8,634| 18. 6| 11,859| 33. 8| 6,906| (27)| 72| Less: Net income attributable to noncontrolling interest| 62| 0. 01| 50| . 001| 82| 24| (39)| Net Income Attributable to shareowners| 8,572| 18. 4| 11,809| 33. 6| | (27)| 73| Net Income per share| | | | | | | | Basic net income per share| $3. 75| | $5. 12| | | (27)| 74| Diluted net income per share| $3. 69| | $5. 6| | | (27)| 73| Retrieved from The Coca Cola Company’s 2010 and 2011 10k Reports The Coca Cola Company has seen an increase in revenues since 2009, though they seem to have higher prices when it comes to selling, administrative, and general expenses during the 2011 accounting period. This seems to be the trend throughout the world, though, as the economic situation has become sour again and prices seem to be rising on all products and services. The cost of goods sold is also higher in the year that has the highest revenues, though this can be attributed to the economic situation once again.The problem with the cost of goods, selling, administrative, and general expenses being so high is that net income has turned out lower, for the 2011 year thus causing the per share income to be significantly lower than that of 2010. Table [ 2 ]: Dr Pepper Snapple Group Income Statement Analysis (dollars in millions except for per share data) Year Ended Dec 31,| 2011| VerticalAnalysis| 2010| VerticalAnalysis| 2009| % Change 11/10| % Change 10/09| Net Sales| $5,903| 100%| $5,636| 100%| $5,531| 5%| 2%| Cost of goods sold| 2,485| 42. 1| 2,243| 39. 8| 2,234| 10| 0. 5| Gross Profit| 3,418| 57. 9| 3,393| 60. | 3,297| 1%| 3| Gross Profit Margin| 57 . 9%| | 60. 2%| | | | | Selling, general and administrative expenses| 2,257| 38. 3| 2,233| 39. 6| 2,135| 1. 1| 4. 4| Depreciation and amortization| 126| 2. 1| 127| 2. 3| 117| (0. 1)| 8| Other operating charges| 11| 0. 2| 8| 0. 1| (40)| 27| 84| Operating Income| 1,024| 17. 3| 1,025| 18. 2| 1,085| (0. 1)| (6)| Operating Margin| 17. 3%| | 18. 2%| | | | | Interest Expense| 114| 1. 9| 128| 2. 3| 243| (12)| (89)| Interest Income| (3)| (0. 1)| (3)| (0. 1)| (4)| | | Loss on early extinguishment of debt| -| -| 100| 1. 8| -| | | Other income (loss) – net| (12)| (0. )| (21)| (. 04)| (22)| | | Income Before Income Taxes & Equity| 925| 15. 7| 821| 14. 6| 868| 13| (5)| Income taxes| 320| 5. 5| 294| 5. 3| 315| 8| (7)| Income before Equity| 605| 10. 2| 527| 9. 4| 553| 13| (5)| Equity in earnings of unconsolidated subsidiaries| 1| -| 1| -| 2| | | Net Income| 606| 10. 3| 528| 9. 4| 555| 13| (5)| Net Income per share| | | | | | | | Basic net income per share| 2. 77| | 2. 19| | 2. 18| 26| (. 01) | Diluted net income per share| 2. 74| | 2. 17| | 2. 17| 26| (. 01)| Retrieved from Dr Pepper Snapple Group 2010 and 2011 10k ReportsThe Dr Pepper Snapple Group definitely sees a significantly lower revenue standard than The Coca Cola Company, which can be seen as a bad thing because it means their market share isn’t near what Coca Cola Company’s market share is. Even though these companies are in the same industry, it seems that Dr Pepper Snapple Group just isn’t being able to keep up with the larger company that the Coca Cola Company is. Yes, Dr Pepper Snapple Group is also seeing the same added expenses in the cost of goods sold, selling, administrative, and general expenses, but nearly at the percentage rate that he Coca Cola Company is. This means that their net income and their per share net income has grown considerably from 2010 to 2011, but remained around the same the year before that. Comprehensive Financial Ratio Analysis Valuation Ratios| DPS| KO| I ndustry| Earnings per share| 2. 79| 3. 78| | P/E Ratio| 16. 37| 21. 17| 20. 9| P/E High| NA| NA| 2. 6| P/E Low| NA| NA| 0. 8| Price to Book| 4. 27| 5. 72| 5. 51| Price to Sales| 1. 63| 3. 87| 2. 93| Price to Cash Flow| 11. 3| 16. 8| 15. 4| Market Cap| 9. 60B| 180. 10B| | Dividends| 1. 21| 1. 88| |Dividend Yield| 2. 98| 2. 55| | Financial Ratios| | | | Current Ratio| 0. 92| 1. 05| 1. 2| Quick Ratio| 0. 7| 1| 0. 8| Leverage Ratio| 3. 9| 2. 6| 2. 9| Book Value per share| 10. 9| 14. 34| 13. 53| | 24. 3| 17. 08| | Total debt to asset| 29. 17| 35. 72| | Lt debt to equity| 99. 69| 43. 17| | Total debt to equity| 119. 66| 90. 31| 108| Operating Metrics| | | | Return on avg assets| 6. 67| 11. 29| 8. 9| Return on avg equity| 25. 67| 27. 37| 25. 74| Return on investment| 8. 13| 15. 77| 13. 7| Margins| | | | Net profit margin| 10. 25| 18. 55| 14. 16|Gross margin| 57. 9| 60. 86| 55. 48| EBITD margin| 20. 85| 27. 06| | Operating margin| 17. 35| 23. 06| | Retrieved from www. google. com/finance & www. investing. money. msn. com The Coca Cola Company has a higher return on investment percentage than Dr Pepper Snapple Group, which means that Coca Cola Company is generating more wealth out of the investments they are making. Both companies’ revenues are growing, though it seems that Coca Cola Company is again winning out in the growth category because they are growing at a larger percentage.Within the past two years Coca Cola Company’s revenue growth has been 13% and then 33%, which seems to mean that even through economically tough times, Coca Cola Company is still able to see larger revenue than the year before. The Coca Cola Company is trading at approximately four times their price/earnings ratio, which shows that it is a strong company which shareholders expect the price to go up. Although Dr Pepper Snapple Group is trading for around three times their price/earnings ratio, shareholders also agree that they have a strong company.If you look at all of the anal ysis ratios, The Coca Cola Company is outperforming the industry in a number of different ratios. These include, but not limited to, the average return on equity, average return on assets, book value per share, the quick ratio, the leverage ratio, net profit margin, and gross margin, just to name a few. It seems that because of this, barring something unforeseen, The Coca Cola Company will remain the leader in their industry, and a good solid investment for any investor. If you are just looking at these ratios, The Coca Cola Company would definitely be the investment choice you would want to go with.However, there are other factors to be considered still. The Coca Cola Company 5 year Stock Valuation Chart Retrieved from www. thecoca-colcompany. com Dr Pepper Snapple Group 5 year Stock Valuation Chart Retrieved from www. nasdaq. com In analyzing the two stock charts above, both are showing results for the past five years, it seems that the trends in both stocks are about the same. Th ere is a drop in October of 2009, which was the financial crisis that made all stocks drop, though both have bounced back up. Dr Pepper Snapple Group has seen an extremely higher stock price since before the crisis, though it s still not valued at what The Coca Cola Company’s stock price is valued. The Coca Cola Company’s stocks have bounced back up, as previously stated, though not at the expansive amount Dr Pepper Snapple Group has since the devastating financial crisis. The Coca Cola Company is valued more than the Dr Pepper Snapple Group because â€Å"although we think there may be a better time to dabble in the firm's shares based on our DCF process, the firm's stock has outperformed the market benchmark during the past quarter, indicating increased investor interest in the company† (Why Coca-Cola is worth, 2012).However, there is some estimation that â€Å"if recent commodity price trends hold over the next quarter, Dr. Pepper Snapple (ticker: DPS) should demonstrate significant earnings leverage in 2013 – well in excess of current Wall Street estimates† (Gerberi, Herzog, & Metrano, 2012). SWOT Analysis Strengths â€Å"Coca-Cola’s key strategy is its excellence in emerging markets. It has secured strong anchorage in emerging markets and in the event that the American market plummets, it will have a good fallback position† (Bazil, 2012).This is a great thing, along with the fact that they are a global company. This gives them a position to be at the forefront of the beverage industry and allows them to see better revenues than others in the beverage industry. Dr Pepper Snapple Group, on the other hand, has a strength in the fact that they have seen a smaller increase in the cost of goods sold and other expenses than The Coca Cola Company. This is a strength because it means that the company has been able to control costs, yet they still have the same quality of beverages they always have. WeaknessesDr Peppe r Snapple Group has continued to be an American-centric beverage company and could use a more global outlook to add to profits and up their stock performance. This is a weakness because The Coca Cola Company is already out in the global market and has become the face of the beverage industry from the United States. They are well known, and if Dr Pepper Snapple Group can’t keep up with this, they will never be able to achieve the same financial situation that The Coca Cola Company has. The Coca Cola Company has seen a weakness in the fact that they haven’t been able to control costs throughout the economic down recently.They are seeing more revenues, but revenues are not all that matter in the business world. The Coca Cola Company should try to maintain a lower cost structure so that they have a better advantage, and a larger net income. Opportunities Dr Pepper Snapple Group has a huge opportunity to go global with their beverages. They are currently thinking relatively small in the grand scheme of things and could use a global perspective to raise revenues and become a more comparative competitor to The Coca Cola Company. The Coca Cola Company has the opportunity to try to control costs.They need to be able to do this so they can see a larger net income and save money during these economically hard times. Companies that are not able to control costs will eventually not be able to make it in the business world because they will be paying prices that they sales cannot keep up with. Threats The Coca Cola Company has a big threat that could potentially affect them in the long run. If more of their competitors enter the global market, they could see huge competition in this market than ever before.They are the main beverage company that has a large global presence, but other beverage companies will be looking, if they already aren’t, into getting into the global market so that they compete with The Coca Cola Company revenue wise, and see the sa me larger revenue that global companies start see when they branch out to different areas of the world. Dr Pepper Snapple Group could see a threat of all others within the beverage industry catching on to their cost controlling methods. These methods would help other companies be able to compete better because they will be saving money and hopefully seeing higher revenues as well.This cost controlling, though now a competitive advantage, could very well become an industry norm in the future. Decision I feel that both companies should be invested in. There seems to be a relatively good stock market valuation for The Coca Cola Company and Dr Pepper Snapple Group, as well as good return on investment percentages relative to the beverage industry average. I think that half should be invested in The Coca Cola Company because it has a global presence and sees higher revenue and has a larger stock valuation, as well as a larger per share net income because of the larger revenues than that of Dr Pepper Snapple Group.I also think that the other half should be invested in Dr Pepper Snapple Group. I feel that this manufacturer only has greater heights to attain, seeing as they have yet to have a huge global presence since they are centered on their United States market. I feel that investing in their stock now, before they truly go global (which will happen because every company should start thinking on a global scale), would be the best case scenario because once they do start making a larger revenue due to global sales, they will probably see a higher return on investment, as well as a higher stock valuation.Implementation & Monitoring To implement this, you should contact your financial advisor. Your financial advisor will able to help you further assess the situation which I have laid out in this report. They will also be able to connect you with a stock broker, if you already do not have one. The stock broker will then help you invest your money in the way I have ex plained above. Then it would be advisable, in order to monitor your investment, that you also use your financial advisor who can better monitor the progress of your stock investment.If this is too expensive, then you could monitor the stock yourself through websites such as www. investing. money. msn. com, www. google. com/finance, or www. finance. yahoo. com. These, plus many more websites, are very helpful in monitoring your investment in the stock market. It is up to you whether you want to monitor it every day, once a week, twice a week, or once a month. Whichever you choose, make sure that you keep up with it and don’t fret when stock prices take a slight drop. Pulling money out too early, or when the stock is currently falling is never a good plan. ConclusionsWith this paper, I have learned that, contrary to my belief, The Coca Cola Company are not comparative in size when it comes to revenue, or even the amount of different beverages they sell. They both, though, have comparative ratio analysis. They both are around the industry average, sometimes one is a little above and the other is a little below and vice versa, but for the most part they are relatively close to the industry average. It seems that Dr Pepper Snapple Group has been able to control costs a little more effectively than The Coca Cola Company, but The Coca Cola Company has seen better revenues than the Dr Pepper Snapple Group.Both of these companies are on upwards trends in the stock market, even though they are not comparable by price. There is definitely a need to invest in both of these companies because each has their unique competitive advantage. The Coca Cola Company’s competitive advantage is the fact that they are the leaders in the global beverage market, while Dr Pepper Snapple Group’s competitive advantage is that is able to control costs more efficiently. They each have a large product line and could both benefit from learning from the other in different a spects of the business.Bibliography Bazil, M. (2012). Coca-Cola’s secret weapon. Retrieved from http://www. gurufocus. com/news/183815/cocacolas-secret-weapon. Coca Cola Company Form 10k, 2010. (2011). Retrieved from www. sec. gov. Coca Cola Company Form 10k, 2011. (2012). Retrieved from www. sec. gov. Cooper, L. , Ford, W. , & Stephens, W. (2007). Coca-Cola case study: An ethics incident. The Archive of Marketing Education. Retrieved from www. marketingpower. com. Dr Pepper Snapple Group. (n. d. ). Retrieved from www. wikipedia. org.Dr Pepper Snapple Group Form 10k, 2010. (2011). Retrieved from www. sec. gov. Dr Pepper Snapple Group Form 10k, 2011. (2012). Retrieved from www. sec. gov. Gerberi, J. , Herzog, B. , & Metrano, B. (2012). Beating the global heat with Dr. Pepper Snapple. Retrieved from http://online. barrons. com/article/SB50001424053111903857104577462982562697696. html Graph Data. (2012). Retrieved from www. google. com/finance. Graph Data. (2012). Retrieved from www. investing. money. msn. com. Graph Data. (2012). Retrieved from www. hecoca-colacompany. com. Graph Data. (2012). Retrieved from www. nasdaq. com. Graph Data. (2012). Retrieved from www. yahoo. com. Investors. (n. d. ). Retrieved from www. investor. drpeppersnapple. com. The Coca Cola Company. (n. d. ). Retrieved from www. wikipedia. org. Why Coca-Cola is worth $70 per share. (2012). Retrieved from http://seekingalpha. com/article/755581-why-coca-cola-is-worth-70-per-share? source=marketwatch Appendix A – Accounting Research Paper Supporting Files PDF Files Word/Rich Text Files