Digital revolutions (6) Essay Example | Topics and Well Written Essays - 1250 words

Digital revolutions (6) - Essay Example It has been observed that owing to implementation of advanced technology in the global market has become more effective in nature (Crown, 2015). The principle aim of the study is to describe about the positive impact of adopting digitalisation within the existing marketing process. Apart from this, the study will also describe how digitalisation can be helpful in building effective global marketing strategies. The digital revolution is recognised to be incorporated within the global marketing strategy during the third industrial revolution, which has made a positive impact over the global economic development. The business industry has become more cautious regarding the application of the same. It has been stated that by implementing the digitalisation within marketing strategy companies are more able in developing effective connection with the costumers. It has been also observed that the traditional ways of marketing are unable to create connection with its customers. In this regards the marketing practitioners have become more eager to adopt the digitalisation within their marketing strategies. Therefore, several companies have launched new strategies of handling online marketing segments, which will facilitate the companies to generate more customers as per the needs of the global marketing segments (Breene & Whipple, 2011). In this regard, the creation of electronic commerce industry has become more active participant for the development of new business circle. Most of the marketing practitioners consider e-commerce industry as a popular domain among the mass media as well as informatics circle also. It has been noted that the implication of e-commerce industry are playing an important role for developing the financial services as well as retail industry as well. Correspondingly, it can be stated that the digital revolution in the global business encourages adoption as well as practice of

South Korean Financial Crisis Case Study Example | Topics and Well Written Essays - 1500 words

South Korean Financial Crisis - Case Study Example Korea was progressing well in 1996 and had become a part of the Organisation for Economic Cooperation and Development (OECD). As people celebrated, nobody knew of the impending disaster about to strike. During the latter part of 1996, the current account deficit increased to 5% from previous year’s 2%, a decrease attributed to lessened competition among Korean industries. The GNP declined from 14.1% to become 7.1% and foreign debt rose to a high 100 billion dollars. These and various other debt related indicators were showcasing the upcoming crisis for Korea. The first half of 1997 surfaced a few more indicators of the disaster. Foreign investors in Korea were starting to get wary of the market and lacked confidence in investing because of long recessions, large deficits in current accounts and growing short-term external debt. In January 1997, Hanabo Steel, the 17th largest Korean seller went into bankruptcy. Soon the Sammi Group, another steel company, failed and major affil iates of the Jinro Group went bankrupt. In July 1997, another major automobile manufacturer, Kia motors failed. With the downfall, foreign capital began to flow out of the country. In July 1997, the Southeast Asian crisis broke out first in Thailand, followed by Indonesia, Malaysia and in Hong Kong in October as the stock market crashed. Within October to December, the Korean economy crashed by 112% compared to the US Dollar. ... Within October to December the Korean economy crashed by 112% compared to the US Dollar. From October 1997, the yield spreads of the global bonds of Korean Development Bank (KDB)3, Korea's indicators of the sovereign risk premium, started to jump. By early December, Korea's bonds were reassessed by Moody's and Standard & Poor's and were demoted to junk bonds from their A1 status. Soon the banks could not renew the maturing loans and needed to withdraw from the Korean markets. Foreign lending crashed from the $100 from January to October 1997, to minus $20 billion by the end of the year. The won plunged lower to 50% in a span of two weeks in the month of November. As of November 1997, foreign reserves were seen to stand at 24.2 billion dollars, of which only 9.3 billion dollars was finally available. The figure was much lower than the required foreign reserve level of 36 billion dollars. Korea did not have enough money to repay back its 10 billion dollars short-term borrowings. At the edge of sovereign default, foreign debt touched highs of 119.7 billion dollars and the whirlpool of the crisis was pulling in Korea. The Causes and effects of the Crisis The causes that led up to the crisis were many and experts state that a single cause cannot be pinpointed as the culprit. While the economy crashed along with that of other nations, many experts also state that the currency crisis in Korea is quite different from other traditional situations. This crisis had little to do with the mismanagement of monetary and fiscal policy. The macroeconomic fundamentals were also good. The effects were as diverse too, but boiled down to the financial destruction of Korea. However like every failure or

On the sidewalk bleeding Essay Example for Free

On the sidewalk bleeding Essay Sixteen year old, Andy Anderson, was found dead 3:00 am in the morning by his girlfriend Laura. Andy Anderson a member of a gang that refer to themselves as the ROYALS recently got stabbed by another gang group the GUARDIANS. This incident took place in a dark alley right in front Alfredo’s, a local corner store. The police think that andy was stabbed around 11:30 p.m. and slowly bled to death. He was stabbed with a knife just below his rib cage. Due to some evidences weve gathered at the scene and witnesses we spoke to, we have some major leads on this crime scene. Our first witness was a 32 year old man, luke lucas, who was sorry that he was too drunk to realize that andy was dying. â€Å" I only wish I would have been sober, I would of been able to help.† He said during his interview. Our next witnesses were two teens, they saw Andy lying down â€Å"on the sidewalk bleeding† and wanted to help †¦ until they saw his bright purple ROYALS jacket. The two teens did not want to get mixed up in between these two gangs. We are still asking them further questions on this because we feel that were not getting the whole story. This devastating tragic event really shows the extreme dangers of gang violence. When the police saw Andy’s ROYALS jacket that he had taken off, they knew that this wasnt just a random act of violence, and that this was a planned attack. What a price to pay for being in a teen death, what a tragedy. Police would like anyone with any kind of information with any kind of information to contact 69 division or to leave an anonymous tip for crime stoppers. Andy’s funeral will be held at Holy Redeemer Roman Catholic Churc h in Ottawa Sunday afternoon. Donations are being accepted by the Youth Services Bureau of Ottawa in the teen’s honour.

Fractions In The Mathematics Curriculum Education Essay

Fractions In The Mathematics Curriculum Education Essay This chapter reviews the relevant literature related to the study. It will explore the overview of the topic and theories that are related and relevant to the study. The study can be divided into two main themes-, the issue and the intervention. The issue here refers to learning problems associated with Fraction which includes the place of the subtopic in the Brunei Mathematics Curriculum, review of previous research on students difficulty and underlying theories related to the topic. The intervention describes how the instruction will be carried out, what are the relevant instructional type of intervention used, the theory behind the choice, including previous research on the choice of intervention. These are then referred to the Brunei SPN-21 curriculum framework. 2.1 Issue: Fractions 2.1.1 Fractions in the Mathematics Curriculum Fractions are first introduced to pupils in Year 2 in Brunei mathematics curriculum. The curriculum keeps revisiting the topic of fractions at different depth up to secondary education. The syllabus content for O Level Mathematics outlined the expected outcome in this topic. Students are expected to be able to use the language and notation of simple vulgar and decimal fractions and percentages in appropriate contexts, recognize equivalence and perform calculations by suitable methods, with and without a calculating aid in involving fractional operations (Cie,2012). The Curriculum Development Department (CDD), Ministry of Education, Brunei Darussalam has outlined the learning outcomes that should be attained by students at each level as shown in Table 1. Table 1: Placement of Fraction in the Brunei Syllabus Year Learning Outcomes 2 Understand the ideas of fraction as a part of a whole Use fraction chart to name fractions with denominators up to 10. Name simple fractions based on fraction diagrams. Shade simple fractions on given diagrams. Demonstrate that when all fractional parts of a whole are included the result equals one whole. Read and write for example; = 1 , = 1 , = 1 3 Use fraction chart and number line to recognize and name fractions with denominators greater than 10. Shade or colour fractions with denominators greater than 10. State the numerator and the denominator of a given fraction. Compare like fractions. Order like fractions in order of size. Compare unit fractions .(S) Arrange unit fractions in order of size. .(S) Use diagrams or fraction chart to recognise equivalent fractions. (S) Compare unlike fractions. (C) Arrange unlike fractions in order of size. (C) Add and subtract like fractions within one whole. 4 Determine equivalent fractions of a given fraction with denominator à ¢Ã¢â‚¬ °Ã‚ ¤ 10 Reduce a given fraction to its simplest form Compare and order fractions with denominators Convert improper fractions into mixed numbers vice versa (S) Addition and subtraction of like fractions with results >1 Add and subtract related fractions(C) Solve word problems. (SC) 5 Add and subtract related fractions Add and subtract unlike fractions Multiply fractions (include mixed numbers) by a 1-digit whole number Divide fractions (include mixed numbers) by a 1-digit whole number (C) Interpret fraction as division Solve word problems (M, SC) 6 Apply concept of fraction in estimating answers in computations. (e.g. less than 2; is slightly more than 52, etc.) (C) Understand fraction as part of a set Find a fraction of a set Divide fractions (including mixed numbers) by a whole number (C) Multiply a fraction by another fraction (S) Divide a fraction by another fraction (S) Solve word problems (M, SC) 7 Perform operations on fractions without / with the use of the calculator. Apply fraction as part of a set and as a division of two numbers in various contexts. Recognise place values of digits in a given decimal. Convert between fractions and decimals. Compare fractions and/or decimals using words and symbols: , à ¢Ã¢â‚¬ °Ã‚ ¤, à ¢Ã¢â‚¬ °Ã‚ ¥ and = (CDD documents, 2010) After Year 7, fraction is incorporated into other topics such as algebra, everyday mathematics and measurements. The content of the topic is designed by using Bruners spiral curriculum. Jerome Bruner, a renowned psychology in the constructivist theory, believed that any subject could be taught at any stage of development in a way that fit the childs cognitive abilities. Spiral curriculum refers to the idea of revisiting basic ideas over and over, building upon them and elaborating to the level of full understanding and mastery. As shown in Table 1, the topic is revisited from Year 2 to Year 7 in different depth. 2.1.2 Students difficulty in learning and understanding Fraction It is well documented that fractions are among the most complex mathematical concepts that children encounter in their years in primary education (Newstead Murray, 1998, Bezuk, Cramer Streetfland, 1991). Hartung (1958) acknowledged the complexity of the fraction concept that cannot be grasped all at once. He also cited that knowledge of fractions must be acquired through a long process of sequential development. This is probably one of the reason why in our curriculum framework, the topic is being taught in stages from as early as when the children are in Year 2, and is developed as they grow older to a more complex form. Experts have outlined a number of reasons to explain students difficulty with fractions. Some researchers had point out the causes for the low performance in this topic (e.g Kerslake, 1986,Hart, 1988, Domoney, 2002, Hannula, 2003). One of the predominant factors contributing to the complexities is the fact that fractions comprise a multifaceted notion encompassing five interrelated sub-constructs which are part-whole, ratio, operator, quotient, and measure (Brousseau, Brousseau Warfield, 2004; Kieren, 1995; Lamon, 2001). It has been suggested that children should develop an integrated understanding of different sub constructs (Post, Cramer, Bejr,Lesh, Harel,1993). Other factors which contribute to the students weakness in fractions is that fractions cannot be counted and there are infinite numbers of fractions between any two fractions, as reported by Robert Siegler (2010). Students tend to memorize formulas or algorithms instead of understanding them. Students also have a difficulty in incorporating concept into practice, example is that students do not know why addition and subtraction require a common denominator. Although being exposed to the computing of fractions from primary school, students in secondary school still make significant error in the addition and subtraction of fractions (Wan, 2002). Studies have also established that students difficulties are mainly due to lack of conceptual understanding of fraction itself. Students had good procedural understanding of fractions as this had been the method taught to them since primary school. (Moss Case, 1999). The development of conceptual understanding involves seeing the connections between concepts and procedures, and being able to apply mathematical principles in a variety of context.(BOS NSW, 2002). A number of recent research studies in Brunei Darussalam have confirmed that pupils in schools are drilled into application of rules and formulas at the expense of mathematical understanding (Veloo and Lopez-Real, 1994; Wong and Veloo 1996; Clements, 2002; Lim, 2000; Khoo 2001; Norjum Veloo, (2003); Veloo and Ali Hamdani, 2005). This is further supported by a report on error analysis on students performance in PMB 2008. The report revealed that students were mostly drilled to do mathematical rules without understanding (MOE, 2008). Study in Brunei on Primary 5 and Primary 6 pupils, had identified some common error patterns, namely grouping error, basic fact error, defective algorithm, incorrect operation and careless error. (Yusof Malone,2002). The study also reported that although the students achievement in the post test had improved but their performance on fraction work remained unsatisfactory particularly on basic operations. Various studies in Brunei primary schools (Clements (1999), Fatimah (1998), Jabaidah (2001), Leong, Fatimah Sainah (1998) Raimah (2001) ) also revealed that pupils in the upper primary school find fractions to be extremely difficult and most of them had no relational understanding of fraction concept. Suffolk and Clements (2003) studied students in Form 1 and Form 2 from 27 secondary schools in Brunei also found out that many students were experiencing serious difficulties with elementary fractions tasks. Another study by Zurina (2003) involving Form 4 (N-Level) students discovered that students had very poor knowledge and understanding of fractions and decimals. The major contributing factors were that teacher spent large amount of time on preparing students for high-stake examination, therefore the traditional drill and practice method was mostly employed by teachers. She further commented that teaching and assessment methods were not generating towards the desired quality of stud ents. Despite being a difficult and complex topic, fraction is one of the main topics in the Brunei Mathematics syllabus, and is being taught formally as early as in Year 2. Wu (1999), cited that fraction understanding is vital to a students transformation from computing arithmetic calculations to comprehending algebra. In Year 7, students are expected to know and understand the sub-constructs of fractions, and are able to perform operations using fractions fluently. They should have acquired the conceptual and procedural understanding of fractions. Addition and subtraction of fractions was first introduced to pupils in Brunei in Year 3 and continued in different depth to secondary education. Although students have been exposed to computing of fractions as early as in Year 3, they still make significant errors in addition and subtraction of fractions in secondary school (Wan,2002). Samsiah (2002) in her study on Primary 6 pupils in Brunei Darussalam found out that pupils don not acquire accurate procedural knowledge for carrying out fraction operations and she further recommended that teaching and learning environment need to be created which are conducive to a healing process. Common errors in addition and subtraction of fractions is the classic error of adding or subtracting the numerator and denominator. This implies that students were thinking of fractions in a disjointed rather than holistic manner. Students difficulties in fractions could be seen as a global phenomena as being discussed. Recognizing the difficulties and acknowledging the importance of fraction in mathematics education makes this study of great significance to the researcher and mathematics teachers. 2.1.3 Students confidence Concentration, Confidence, Competitive urge, Capacity for enjoyment (Arnold Palmer) Confidence is a state of being certain whether the hypothesis or prediction is correct or that a chosen course of action is the best or most effective.   According to Jones (2001), the self-confidence is the assurance that a person has in his or her own abilities. Self-confidence is also defined as the sureness of feeling that you are equal to the task at hand. This sureness is characterised by absolute belief in ability. Bandura (1986) reasoned that the most important source of information on students confidence comes from the mastery experience. The term mastery experience implies that individuals are to reflect on and evaluate their own performance. Self-confidence is extremely important in almost every aspect of our lives, yet so many people struggle to find it. Sadly, this can be a vicious circle: People who lack self-confidence can find it difficult to become successful. In order to develop confidence in Mathematics, students need to be provided with opportunity to use mathem atics in a real context. 2.2 Intervention and Remediation According to a study by Kroesbergen and Van Luit (2003), intervention is used to teach basic math skills and problem-solving strategies for students with special needs. Remediation is the effective re teaching of material not previously mastered when it was originally taught, according to a research study for the Southeastern Regional Council for Educational Improvement by Gypsy Anne Abbott and Elizabeth McEntire. A successful remediation strategy covers any prerequisite concepts or skills needed to understand the current objective. Students who did not learn the material the first time it was taught may simply need reteaching or a fresh approach, while students with problems learning may also need modifications to the lessons and assessments, more time to complete assignments or shortened assignments. In this study, the researcher is doing remediation programme adopting the Learning study strategy in two cycles. First cycle is addressed at improving students conceptual understanding of fraction, particularly looking at equivalent fraction which is the pre requisite for addition and subtraction of fraction with different denominators. The second cycle is aimed at improving students fluency in doing operation with fractions. The pre-test is administered before the intervention programme is carried out. This is to find out the students knowledge of the problem being investigated. The post-test is administered at the end of cycle 2. This is as a measure of the learning which might take place as a result of the intervention. 2.2.1 Learning Study Learning Study is a process where teachers work collaboratively to plan teaching strategies by focusing on the students needs. It builds teacher knowledge about how students develop mathematical understanding. Learning Study aims to advance student learning through building a sequence of learning experiences, reviewing the lessons and evaluating the effectiveness of the learning experiences. It is most effective when supported by an expert to offer constructive advice and support Learning study is similar to the Japanese Lesson Study (Yoshida,1999 ; Stigler Hiebert, 1999). It is aimed at improving students learning in a cyclic process of planning and revising lesson by a group of teachers. The theory of Variation (Marton, Runesson, Tsui, 1997) forms the basis of the theoretical framework of Learning Study. According to variation theory, learning is defined as a change in the way a person experiences a particular phenomenon and is associated with a change in discernment in that persons structure of awareness (Marton Booth, 1997; Marton Tsui, 2004; Marton Pang, 2006). In designing the patterns of variation and invariation, teachers are advised to use the principles of variation, as follows: The principle of contrast teacher to give contrasting example (e.g. Fraction and Whole number) The principle of separation to test one variable, change the other variable. (e.g to understand relationship of numerator to the value of fraction, vary the numerator and keep the denominator invariant) The principle of generalization to generalize a concept, different examples of the same value are given (e.g to generalize the concept of , give all kinds of examples involving say half of an apple, half of an hour etc The principle of fusion vary different dimensions simultaneously (e.g. to understand two critical aspect of numerator and denominator, vary both at the same time, systematically) The main focus of learning in the SPN-21 curriculum is the learner, with emphasis on the teaching and learning for understanding. Learning study is one of the strategies which focus on the teaching and learning for understanding. It is the aim of the Ministry of Education to provide continuous professional development in order to help teachers to improve their understanding of teaching. To support this, Learning study group of secondary school teachers had been set in Brunei to improve teaching and learning of science and mathematics. Learning Study is a process where teachers work collaboratively to plan teaching strategies by focusing on the students needs. It builds teacher knowledge about how students develop mathematical understanding. Learning Study aims to advance student learning through building a sequence of learning experiences, reviewing the lessons and evaluating the effectiveness of the learning experiences. It is most effective when supported by an expert to offer constructive advice and supporTeachers are encouraged to use different approach to their teaching for the improvement of learning in Brunei. Dato Seri Setia Awang Hj Yusoff Hj Ismail, the acting Minister of Education, in his speech at the opening of the World Association of Lessons Studies (Wals) Conference 2010 mentioned on the importance of lesson study and learning study to improve on the teachers understanding of their teaching. He further added that the challenge is to ensure that collaborative enquiry trough lesson and learning study takes root in the culture of our school (Brunei Times,2010 Dec) 2.2.2 Use of Manipulative in Mathematic I hear and I forget, I see and I remember, I do and I understand (Confucius, 551-479BC) Mathematics education today are moving towards the facilitation of students understanding and conceptualization rather than drill and practice of rote procedures (Heddens,1986). This is in line with the SPN-21 curriculum framework which also give emphasis on the teaching and learning for understanding. One of the ways to promote understanding is by using manipulative. Manipulative are physical object help to make mathematical concepts become concrete. Research in many countries supports the idea that the mathematics instruction and students mathematics understanding will be more effective if manipulative materials are used (Canny, 1984; Clements Battista, 1990; Dienes, 1960; Driscoll, 1981; Fennema, 1972; 1973; Skemp, 1987; Sugiyama, 1987; Suydam, 1984) Allowing students to use concrete objects to observe, model, and internalize abstract concepts will yield a positive effect on students achievement (Sowell,1989.,Ruzie and OConnel,2001) . Manipulative allows students to construct their own cognitive models for abstract mathematical ideas and processes. They are also engaging students and increasing both interest and enjoyment of mathematics. Long term interest in mathematics translates to increased mathematical ability (Suton Krueger, 2002). 2.2.3 Games in Mathematics Classroom Games are seen to be fun, not only motivating but ensuring full engagement, particularly through reflection and discussion, on which constructive learning depends (Booker,1996). Games are also valuable for simulating and encouraging mathematical discussion between group of children and between students and teacher (Earnest, 1986). Students may build on their prior knowledge and forms links between the game and their everyday surroundings (Bragg, 2006). Bragg further added that through the use of games, students ability to work independently of the teachers and others helps them to build confidence through achieving success in classroom. Games offer mathematics teachers a way of practicing and reinforcing arithmetic and other mathematical skills, as well as supplementing for drills and practice-problems. Games are seen as a way of presenting high level mathematics concepts in a simple and non-threatening way. Although games has been seen as a beneficial tool in mathematics classroom (Bragg,2006; Booker,2000; Gough,1999; Anily,1990), it is also important to ensure the structure of the game support learning, for learning to take place (Swansed Marshall, nd). Learning outcomes related to the games should be clearly specified to make the usefulness of games explicit to students (Bragg, 2006). In this study, the game of I have.. , who has? is used. The game is chosen because it involves the whole class and easy to administered. The rule is also very simple In this game, students have to be attentive and at the same time try to figure out the answer that match their cards. 2.2.4 Use of Video song Music is chosen as another mean of helping students to understand the topic. Music establishes a positive learning state and energizes learning activities. Songs and rhythmic chants invite the students to become active in the learning practice. Music adds an element of fun while helping accentuate the lesson orientation. Songs help stimulate the students imagination. Music helps ease tension through work that does not feel like typical classroom work. The melody, rhythm and repetition collaborate together as an effective tool in improving students memories, which in turn will establish good retention of the topic Music is a universal language which promotes reading, creativity, and comprehension skills all at the same time(Wright,2009). Don McMannis, an expert on childrens music, mentioned the positive effect of music on peoples emotions and creativity. He also agreed that music is an effective medium for learning and retaining information, in a way that it activates three different centers of the brain at the same time: language, hearing, and rhythmic motor control (Elias,2009). Music is considered as one of the avenues for learning proposed by cognitive phychologists in the theories of multisensory learning (Harris,2009). Music is viewed as a multi-sensory approach to enhance learning and retention of academic skills. The music activities used will directly carry the curriculum content that the student is to learn. For example, if the student is to add single digit numbers, the lyrics to the educational song or chant will deal directly with that target skill. Research supports the use of music as a mnemonic device for the learning and recall of new information. Music also plays a role in focusing attention and providing a motivating environment for learning. In addition, educational research confirms that we learn and retain information better when we find it interesting and meaningful. In this study, a video song from you tube, called the Mathe Mia Addition of Fractions, is used. The lyrics of the song summarize how to do addition and subtraction of fractions, from common denominators to unlike denominators and the mixed numbers. After the students have acquired the intended learning objectives, the video song will helps them to recall and retain the information learnt. 2.3 Summary It is well documented that fraction is one of the most difficult topic in Mathematics. Fraction has been taught to students in stages; from as early as when they are in Year 2. Understanding how fraction works is needed in life and other field of study. It is therefore important to establish good foundation in this topic. Lesson study is being practised worldwide and has proven a successful and effective method of enhancing teaching and learning. The ministry of Education has encouraged schools to practice lesson or learning study to help teachers and students in their teaching and learning. Teachers are also encouraged to use of different teaching strategies in enhancing students learning. The use of Manipulative in teaching and learning had been established in the education system. The effectiveness of games in promoting students learning had also been well documented. Games give an alternative way of learning in a fun, enjoyable and non-threatening way, which in turn will boost students motivation and confidence. Research had found out the positive impact on the use of music in education, although it is not a very popular means of teaching in the secondary schooling. Through the use of different strategies, students learning of the subject might yield positive result.

Essay on Juvenile Crime and Punishment -- Argumentative Persuasive Top

Juvenile Crime and Punishment       The punishment of juvenile criminals, specifically those between the ages of 13 and 18, in the event that they commit crimes of murder, is not severe enough. Minors between these critical ages in the teenage life who commit crimes of murder should be prosecuted as adults in all situations and locations.    Teenagers in this age group do kill others, old and young alike. The rate at which juveniles were arrested for murder rose 177 percent between 1978 and 1993 (NBER.org). This shows that there is a need for stopping or at least slowing this trend in homicidal acts. Statistics clearly show that juviniles between the ages of 14 and 17 during the years of 1976 to 1994 are increasing in numbers in the amount of murders they commit. The event in Littleton, Colorado is another example of the fact that teenagers are killing others. Carrying several weapons and setting off homemade bombs, teen-agers Eric Harris and Dylan Klebold killed 12 students and a teacher and wounded about 26 others before committing suicide at Columbine High School on April 20, 1999 at 11:21 a.m. (usatoday.com/182). These two young men had hatred in their hearts that no person will be able to explain. They knew what they were doing and wanted to do it well. They did what they were trying to do: kill others. If these two young men had not committed suicide, would they have been prosecuted as adults? We will never know because of the choice they made to take their own lives, but I certainly hope that they would have received the correction they deserved. In this situation, that due punishment would have been a trial as though they were adults who killed other human beings.    What happens when teenagers kill ... ...with his/her threat.    The next step in solving this problem is to contact state governments and let them know that juveniles who commit crimes of murder should be tried as adults in all situations. Politicians should become aware that this is a problem in the society of America and shouldn't be reminded only by tragedies like that which happened in Littleton, Colorado. Call or write state governments and let them know that juveniles should be prosecuted as adults when committing crimes of murder.    Works Cited 1. http://www.nber.org/digest/feb98/w6191.html 2. http://www.usatoday.com/news/index/colo/colo182.htm 3. http://www.usatoday.com/news/index/colo/colo96.htm 4. http://www.tjpc.state.tx.us/reviews/98-1-09.htm (Texas Juvenile Probation Commission) 5. http://abcnews.go.com/sections/us/DailyNews/nathaniel991021.html#top   

How does a permanent magnet work? :: essays research papers

Some materials have a feature known as ferromagnetism. The prefix "ferro" refers to Iron, which is one such material. Ferromagnetic materials have the ability to "remember" the magnetic fields they have been subjected to. An atom consists of a number of negatively charged electrons, orbiting around a positively charged nucleus. These electrons also possess a quantity known as spin, which is roughly analogous to a spinning top. The combination of orbital and spin motions is called the angular momentum of the electron. Angular momentum is perhaps most easily understood in the case of the Earth: The earth spins about a central axis, which means it at has an angular momentum around that axis. The planets also have an angular momentum as they revolve about the sun. Now, the angular momentum of an electron is a vector quantity, meaning it has direction. The motion of the electron produces a current, which in turn generates a tiny magnetic field in the direction given by the angular momentum. Thus an atom can behave like a dipole, meaning "two poles". The direction of the orbital and spin angular momentum of the electron determine the direction of the magnetic field for the electron and the entire atom, thus giving it "north" and "south" poles. Different atoms have different arrangements of electrons into their orbits, and thus have different angular momenta and dipolar properties. A ferromagnetic material is composed of many microscopic magnets known as domains. Each domain is a region of the magnet, consisting of numerous atomic dipoles, all pointing in the same direction. A strong magnetic field will align the domains of a ferromagnet, or in other words, magnetize it. Once the magnetic field is removed, the domains will remain aligned, resulting in a permanent magnet. This effect is known as hysteresis. Few materials are actually ferromagnetic; however, all substances have a diamagnetic nature. Diamagnetism means that the molecules within a substance will align themselves to an external magnetic field. The external magnetic field induces currents within the material, which in turn result in an internal magnetic field in the opposite direction. This effect is usually quite small and disappears when the external magnetic field is removed. Some materials are paramagnetic. This is the case when the orbital and spin motions of the electrons in a material do not fully cancel each other, so that the individual atoms act like magnetic dipoles.

Air Asia vs. Qantas Essay

1. Overview 1.1 Qantas-Main business and strategies The main business of Qantas airways limited is the transportation of passengers. Their core strategy of Qantas is profitably grows and the longer-term strategy of Qantas is to reorganize its business structure in order to eliminate mounting losses. The strategy that implement by company is to reduce the capital intensity of the business by forging partnerships with carriers in certain sectors that are uneconomical. (Qantas, 2012) Such as cooperate with British Airways. Qantas use two complementary airline brands; these two brands are used to touch different customers. Two brands operating together has occupied 65% market share in Australia, (Qantas, 2012) because, two brands provide flexibility in varying market conditions. Qantas, (2011 pp. 4) On the other hand, these two brands practice some sub-strategies to support its main strategy. These appropriate sub-strategies are the key success for point that lead to Qantas continually expansion in the world. | Qantas| Jetstar| Sub-Strategy| * Premium full service * Maximized profitability| * Cost leadership * Low fare airline| Operational improvement| * Enhanced customer service focus| * Expand locally and into international leisure markets | In statistics of 2012, Qantas has full-employees for 33,584. Flights over 550 airports and passengers carried are 44,456,000, which increase the 5.06% base on the year 2011. (Qantas, 2012) 1.2 Air Asia-Main business and strategies Air Asia is the largest low-cost flyer carrier in the world. It is establishing with the dream of making flying possible for everyone. On the other hand, it is not only focusing on the cost factor, but also safety first. The Air Asia has operated around 11 years, but it’s still keep high grow rate. The Air Asia is the regional carrier with the largest destination network, highest flight frequencies and high aircraft utilization.( Air Asia, 2012) Air Asia was named the 2012 World’s Best Low Cost Airline in the annual World Airline Survey by Skytrax for three consecutive years. There are some actions that support its main strategy in order to make it success. Such as the lost cost model is based on: (Hill, C. W. 1988). * Single passenger class * Flying to cheaper, less congested secondary airports * A single type of airplane in order to reducing training and servicing cost * Point to point flights with no transfers In statistics, Air Asia has full –employees for 4346. Passengers carried are around 22,474,620 in 2012, which increase more than 10% base on the year 2011. Services network over 216 routes covering destinations in and around world. The below picture has shown that air Asia are trying to get more market share in the southwest of Asia, there are more than 143 routes in southwest of Asia out of 216. This is the developing direction of the Air Asia in recent years. (Air Asia, 2012) 2. Industry analysis 2.1 Overview Goble airlines markets & PESTLE mode analysis The Lift side is show that, the air travel remains a growth market. This forecast mentions that air traffic will double in the next 15 years, which means, the external environment still keep optimistic. Both of Qantas and Air Asia have same opportunity. (Airbus, 2012) The PESTLE model lists the factors or driver for growth, external environment can be reasonably expected as optimistic. but this chart showed that real GDP 2011-2031 by region, the economic growth is a key driver for air traffic growth, increasing urbanization will also drive economic growth and the propensity to fly. (Airbus, 2012) PESTLE model PESTLE model| Political * Stable political environment * Deregulation| Economic * Global financial crisis * Rising currency * Rising fuel cost| Social * Changing consumer demographics * Increasing travel lifestyle * Changing consumer preferences| Technology * Internet * Surface transport investments * Efficient aircrafts| Legal * Legislation compliance requirements * Allegations of misleading advertising| Environmental * Greenhouse and carbon emissions * Tourism saturation * Shortage of infrastructure capacity| 2.2 Overview Australia airline markets Qantas is the biggest airline operator in Australia, which represent as 75.6% for domestic market, but Qantas still has some competitors in Australia, such as Virgin blue (14.4%), Skywest (1.3%), Tiger (1.0%) and others (6.3%). We should understand it operate environment before we going to depth analysis, because the every company is restricted by external environment. PESTLE model clearly show Qantas operating external environment According to this chart, we can conclude that the overall environment is good and stable, but overall industry still facing some problem, the biggest issues has shown at lift picture, which is purchases, purchases of fuel. (Australia government 2013) 2.3 Qantas SWOT analysis Strength: 1. As one of the biggest Airline in the world, QAN has large quantity of flight customers and business relationships. Large scale could bring more benefits. 2. Qantas operates in a sea of business activities in different sectors. But all of them the support activities of the aviation industry, such as catering, engineering and baggage handling. Thus operation contributes to helping control supplier and aircraft maintenance costs. 3. Qantas Airways, Canada airlines, United Kingdom airline, United States airlines and Cathay Pacific founded a management company called One world Alliance. This centrally is to help each other in non-core business activities, such as marketing and online ticketing, in purpose of reducing costs and thereby cutting ticket prices. Members of the Union may also transfer passengers for connecting flights. 4. As monopolizing in Australian Market, Qantas has a home advantage. Thus its subsidies could provide better resources for its business. Weakness: Without the authorization of the trade union officials, workers in Qantas took an action called Wild Cat Strikes. Qantas was damaged by that action in delaying flights, exploring its issues between employees and the company. Besides, QAN Company is too concentrated on Australia side. Opportunities: As publishing of Open sky police, such as Pricing determined by market forces, Fair and equal opportunity to complete, Cooperative marketing arrangements, QAN could be beneficial from international aviation liberalization and downsizing in government intervention. In addition, more international destinations especially in Asia are developing. Due to Australia Market is less tapped so far, QAN could get a better chance to gain a major market shares than other airline companies. Moreover, QAN found a new opportunity of new market and created Jetstar witch is a low budget airline to attract potential large quantities of customers. Threat: With the result of merging between n United Airlines and Continental, Qantas is under threat because United Airlines- Continental is planning to penetrate into Australian market. One of Qantas most important international routine, between Australia and USA, will be affected. Unfortunately, large fluctuation in oil prices, together with global financial crisis, big airline companies was affected seriously due to rising operation and labor costs. Increasing Australia Airline market completion also will be a threat for QAN developing. 2.4 Overview Southwest of Asia markets The main competitors of Air Asia are Thai airways, Nok air, One Two GO Airline, and Singapore airlines, among of them SIG is the main competitor with Air Aira, in order to compete with Air Asia, SIG introduced 2 budget airlines; Valu Air and Tiger Airways, both of them are practice as the low-cost position. AIRASIA SWOT Analysis: Strength: AIRASIA has a well-known name and it is famous for its low cost operation. in accordance with the 2011-2012 year financial report, the company’s non-fuel costs fell 3%, suggesting that companies continue to implement cost control; in 2011-2012, the company plans to non-fuel unit costs to fall by 5%. While ancillary revenue rose 23%, which helps companies to achieve annual revenue growth targets Moreover, it has the first-mover advantage of first low cost airline company in Asia. After that, AirAisa has strong promotional strategies for general promotion and media advertising. In addition, they companying with other service providers, such as hotel) and credit cards create a unique image among customers. Because of its punctual performance, AirAsia was offered honor of five-star service and flashes. AIRASIA has developed a well-established distribution channel in its products and services. Moreover, it is always using single type of airplane, thus minimizing maintenance fees. Weaknesses Due to the report, Aircraft leasing costs increased by 8% since the number of aircraft increased by 8 per cent while leasing costs and depreciation of the dollar, allowing the company to save rental costs. Airport and operating costs increased by 12%, reached 444.34 million dollars. Other expenses have increased by 14%. As the economic condition recovery, how to control the rising costs becomes o one of the most serious challenges faced by AIRASIA. Because of the lower cost, AIRASIA has limited service resources. Thus also is related to being lack of ability of handling irregular situation. Government interference regulates airports. In addition, AIRASIA receives a lot of complaints from customers such flight delays and not able to change flight. When competition is getting intense, good customer service and management is especially important. Opportunity With having first-move advantages, AIRASIA could be more possible to survive and win under the big intense environment such as rising oil price and government regulation. There is another opportunity for AIRASIA is cooperating with other low cost airlines such as Jetstar. The significant action could help tap into their strength and resources. Besides, larger population of customers is willing to choose cheaper flight. Threat In nowadays, lots of low cost airline companies are appeared such as Jetstar, Virgin, and Southwest. These companies improve that AIRASIA’s low cost strategy could not be a strong competitive advantage in the industry. It could be copied easily. Many kinds of expenses such as security fees and landing fees are out of control. Moreover, unstable economic conditions in the world have impacted on airline industry. Thus treat is same with questions facing by Qantas. 3. Accounting policies analysis 3.1 Basis of preparation of the financial statements The accounting policies are the procedures that used by a company to prepare its financial statements. Qantas’ reports basically are prepared in accordance with AASBs, but also following the IFRS (Qantas, 2012 pp.78). Air Asia prepared their reports following the MASBs and also in conformity with IFRS. IFRS is the general guide for these two companies when they prepared their report. It means not only significantly enhance comparability of financial reporting between these two companies, but also decrease our uncertainty, increase the reliability and accurately of analysis. (Burgstahler, D. C., Hail, L., & Leuz, C. 2006) These two companies are running same business industry and prepare report in accordance with IFRS, so there are some accounting policies are similar, the following lists show the similarities of accounting policies practiced as these two companies 3.2 Similarities of accounting policies (Qantas, 2012 pp.80, Air Asia, 2012 pp.73) * Reports on the basis of historical costs except in accordance with relevant accounting policies where assets and liabilities are stated at their fair values * Main revenue recognition-The value of seats sold for which services have not been rendered is included in current liabilities as sales in advance * Other revenue-such as fuel surcharge, insurance surcharge, administrative fees, excess baggage and baggage handling fees, are recognized upon the completion of services rendered. * Residual value-the changing estimates are based on historical experience and various other factors that are believed to be reasonable under the circumstances * PPE-Depreciation is used the straight-line method * Inventory-The values of inventories are reported as weight average cost. * Repair and maintenance expenditure, repair treat as cost, deduct in the same period. Maintenance, if it changes in the using life of equipment, it will be treat as capitalization. Even these policies are similar, but they still have some flexibility, such as the report can be influenced by changing accounting estimates. The following table has been showed that there are totally different use for life and residual values between these two companies’ assets. These two factors are depended on the judgment and estimate of management. Matsumoto, D. A. (2002) mentions that management’s estimates and judgments involved in the accounting policies which have significant potential impact on their financial statements, because these matters are really uncertainty. Finally, this uncertainty will reflect on the ROA, ROE, even if these two ratios increase or decrease, it does not necessarily because of changing in the company’s profitability. (Lev, B., Li, S., & Sougiannis, T. 2010). | Qantas| As Asia| | Use for life(Years)| Residual values| Use for life (Years)| Residual values| Buildings| 10-40| 0%| 28.75-50| 0%| Passenger aircraft and engines| 2.5-20| Up limited 10%| 7-25| Adjusting according to a prospective basis (note1)| Air spare parts| 15-20| Up limited 20%| 10| Adjusting according to a prospective basis (note1)| Note1ï ¼Å¡Estimates and judgments are continually evaluated by the Directors and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. (Air Asia, 2012 pp. 77) 3.3 Main different accounting policies 3.3.1 Receivable Qantas and Air Asia receivables contain of trade debtors, other debtors and loans owing from related parties. Normally, the net receivable is recognized as its original amount less a provision for uncollectible debts. Qantas make an estimate for doubtful debts when collection of the full amount is no longer probable. The estimation of provision of doubtful debt relative to receivable is regularly reviewed. Bad debts are written off as incurred (Qantas, 2012 pp.101). As result, it is a risky way for the company not to assign provision of bad debts according to the percentage of credit sales. In Air Asia, they assign provision of bad debts according to the percentage of credit sale, (Air Asia, 2012 pp. 98) company will operate more stable, less risk then Qantas, but allowance will decrease its operating asset, reflect on the ATO, as result influence ROE. (Davidson & Thompson 1962) 3.3.2 Discount Rate Discount rate is the interest rate that used in discounted cash flow analysis to determine the present value of future cash flows. (Qantas, 2012 pp.101) Changing discount rate will influence the company’s pension plan. Normally, pension is company’s liability; it is measured by three factors, PBO, ABO and VBO. Either PBO, ABO, should be discounted before reported. Due to particular category of pension plan, company just reports the different between the pension benefits and pension obligation on the financial report, if the benefits are greater than obligations it will be reported on the assets side, on the opposite, it will be reported on the liabilities side. (Wiener 1995) So the effect will directly reflect on its ROA and ROE. Discount rate of Qantas is based on the risk-free rate for the ten-year Australian Government Bonds adjusted for a risk premium that represented as 10.5% percent per annum (Qantas, 2012 pp.103). Air Asia use weight average effective interest ra te that represent as 10% per annum. The changes in discount rates of Qantas in 2011 to 2012 that lead to decrease in the Workers ’ Compensation provision of $15 million and an increase in the long service leave provision of $45 million. The net effect of these changes was a $30 million increase in provisions as at 30 June 2012. (Qantas, 2012 pp.103) as results, the changing of provision will reflect on the ROE of Qantas, because provision is comprised of liability. Finally, the ratio analysis will lack of comparability. 4. Ratio analysis: 4.1 Return on equity analysis: The ROE changing line of Qantas Airline limited (QAN) has a sharp fluctuation during year 2009, which has reached the top point of almost 60%. Then ROE index declined until 16.89% after the top and maintained about the level figure of 20% from year 2010. Compared with QAN, Aireys Berhad (AIRASIA) has a relative complicated ROE line. AIRASIA started from -50% from end of year 2008, afterwards got to the first top of 35.37% in 2010. After that the concave curve reached the bottom of 14.28%, and was back to the top at point of 37.39%. As personal opinion, AIRASIA has a brighter future than QAN on ROE side due to its growing trend ROE ratio from year 2011 though it had a negative number from the beginning point. In addition, with the research of 5 year average ROE rate, the total airline industry index is 26.9%, which is higher than QAN and lower than AIRAISA (StockCentral, 2013). AIRAISA is doing a better job in using investors’ money and attracting more investing capital. 4.2 Leverage affect From above two graphs, different index reflect different relationships. On QAN side, ROE rates changing are mainly due to changing in return of asset rate. It is indicating that QAN achieved a better effect of asset utilization by increasing revenue and saving asset funds to raise ROE ratio up. Different with QAN, AIRAISA’s ROE rate is primarily rely on financial leverage, which is equal to net financial liabilities / equity. Overwhelming other related facts, higher financial leverage rates mean stronger power of using liabilities to create profit. From this aspect, it is not hard to disclose different profit channels between two companies. 4.3 Borrowing cost driversï ¼Å¡ Downsizing of borrowing cost rate gives opportunities to raise ROE ratio. In QAN, from year 2011 the borrowing rates have been continuously declining which gave contributions to profit gaining. From AIRASIA side, borrowing cost rate kept on level of 3%-4% in recent two years, which may weaken ROE performance competing with QAN. 4.4 Operating profit drivers Return on asset ratio, which could be divided in asset turnover and profit margin directly, affects the performance of ROE. Compared with two companies, ATO ratio gave more impacts on ROA in past five years in QAN. Relatively much higher ATO ratio of QAN reflects that business higher speed of asset utilization from input to output for the period, better enterprise’s assets management quality and efficiency. Downsizing in ATO rate will directly influence ROA rate, obviously between year 2008 and 2009. In AIRASIA side, ROA ratio variation mainly affect by PM ration. On whole, PM ratio curve indicates increasing trend in the 5-year period, though a slight drop in year 2011. Higher PM ratio compared with QAN could give evidences that AIRASIA has better ability to recover kinds of expenditures and cost of goods sold, benefiting from the low cost strategy. Low costs give contributions to gaining higher ROA ratio of AIRASIA than QAN in recent year. 4.5 Cost structure These two graphs are drawn on the base of revenue as 100%. According to two graphics, we can easily see that After deduct COGS, Air Asia reported Gross profit around 50% over 5 years, but Qantas just has less than 20% for Gross profit, Air Asia practices cost-lead ship strategy, so COGS and its selling & administration expense is significantly lower than Qantas. So the Air Asia control its COGS are better than Qantas. But however, the selling & administration expense of Qantas (around 11% of 100% revenue) less then Air Asia (around 26% of 100% revenue), which mean Qantas, is good at management. Thus trend indicates that low-costs of airline industry would be bafflement for increasing profit. Compared with two companies’ gross profit and gross margin ratio curve, Qantas has been suffered drop trend in five-year gross profit due to its downsizing revenue and high cost of goods sold. AIRASIA has optimistic trends both in gross profit and gross margin. The company was engaged in e xpanding sales and revenue, improving cost management level and seeking appreciate company strategy at the same time. Higher gross profit and gross margin indicate company could have higher possibilities to gain profit. 4.6 Average industry analysis The first graph shows the ROE of Air Asia in the Malaysia airline industry, after 2009, the ROE of Air Asia is significantly higher than average. The second procure compare the Qantas with Australia airline industry, if we calculate the average ROE of Qantas, the result is a little bit lower than average. The last graph we put two-airline companies in the Asia- pacific region, the graph has shown that Qantas’ operating is lower than the average, after 2009, Air Asia is keeping upward. 5. Conclusion After our analysis, due to applying different policies and strategies, two airline companies did different performance in gaining profits. we think that even though Air Asia just set up around 11years, and its size of the company is quite less than Qantas. But they have been adapted to the turbulent global environment. Its strategy has fitted with external environment, the advantage of small company is easy to change its management control system to response with the turbulent environment and better to keep consistent with its strategy. Finally, the whole company will be easier to achieve the goal. As result, AIRASIA seems to be better in raise ROE ratios, benefiting from its increasing sales and costs controlling. So we can concluded that AIRASIA’s performance is better than Qantas. Reference: Qantas, (2012) â€Å"Qantas Annual Report 2012† Qantas Airways Limited Qantas, (2011) â€Å"Qantas Group presentation December 2011† Qantas Group www.qantas.com. Air Asia, (2012) â€Å"Air Asia Annual Report 2012† Air Asia Airways Limited www.airaisa.com Airbus, (2012) â€Å"Navigating the future† Global Market Forecast 2012-2031 www.airbus.com â€Å"Domestic airline activity, Department of Infrastructure and Transport†, Australia government, update 19 August, 2013 www.bitre.gov.au Qantas Customers 2012, by Segment 2012, Statistic, viewed 8 May 2012, Qantas’ Situation: Yesterday, Today and Tomorrow 2011, The Age, viewed 8 May 2013, Stockcentral (2013), industry averages. Available from: http://www.stockcentral.com/?utm_source=iclubindustryaverages&utm_mdium=link [Accessed: August 17, 2013]. Burgstahler, D. C., Hail, L., & Leuz, C. (2006). The importance of reporting incentives: earnings management in European private and public firms. The accounting review, 81(5), 983-1016. Lev, B., Li, S., & Sougiannis, T. (2010). The usefulness of accounting estimates for predicting cash flows and earnings. Review of Accounting Studies, 15(4), 779-807. Kotlikoff, L. J., & Wise, D. A. (1989). Employee retirement and a firm’s pension plan. Hill, C. W. (1988). Differentiation versus low cost or differentiation and low cost: a contingency framework. Academy of Management Review, 13(3), 401-412. Matsumoto, D. A. (2002). Management’s incentives to avoid negative earnings surprises. The Accounting Review, 77(3), 483-514. Cyert, R. M., Davidson, H. J., & Thompson, G. L. (1962). Estimation of the allowance for doubtful accounts by Markov chains. Management Science, 8(3), 287-303. Scott, T. W. (1994). Incentives and disincentives for financial disclosure: Voluntary disclosure of defined benefit pension plan information by Canadian firms. Accounting Review, 26-43. Wiener, H. J.(1995), †Pension Plan Strategy† A Comprehensive Guide to Retirement Planning for physicians and Other Professionals 7(2), 101-212. Appendix Air Asia ANALYSIS| 　| 　| 　| 　| 　| 　| REFORMULATED BALANCE SHEET| | 12/31/2012 USD| 12/31/2011 USD| 12/31/2010 USD| 12/31/2009 USD| 12/31/2008 USD| Operating Assets| | | | | | | Net Receivables| | 315,898,627| 176,713,880| 158,421,275| 170,371,203| 262,514,740| Total Inventories| | 7,758,339| 6,223,975| 5,692,557| 6,093,458| 5,978,035| Prepaid Expenses| | 240,199,477| 149,035,647| 105,739,906| 73,305,199| 32,597,110| Other Current Assets| | 0| 198,398,423| 174,299,659| 180,913,551| 212,788,150| Net Property, Plant & Equip.| | 3,200,140,615| 2,744,062,776| 3,021,904,005| 2,319,564,252| 1,905,866,763| Other Assets| | 863,519,621| 282,959,621| 106,643,425| 141,351,051| 40,122,254| | | 4,627,516,678| 3,557,394,322| 3,572,700,827| 2,891,598,715| 2,459,867,052| Operating Liabilities| | | | | | | Accounts Payable| | 21,299,542| 25,636,593| 17,245,987| 26,411,507| 31,597,399| Accrued Payroll| | 0| 0| 0| 0| 0| Income Taxes Payable| | 1,674,951| 0| 529,269| 2,869,159| 0| Dividends Payable| | 0| 0| 0| 0| 0| Other Current Liabilities| | 606,007,521| 479,045,110| 400,453,705| 312,255,549| 322,342,775| Provisions for Risks & Charges| | 0| 0| 0| 0| 0| Deferred Income| | 0| 0| 0| 0| 0| Deferred Taxes| | -118,180,510| -162,807,571| -233,260,905| -219,414,136| -247,430,347| Other Liabilities| | 166,843,689| 154,044,479| 146,867,196| 0| 0| | | 677,645,193| 495,918,612| 331,835,252| 122,122,079| 106,509,827| Net Operating Assets| | 3,949,871,485| 3,061,475,710| 3,240,865,575| 2,769,476,636| 2,353,357,225| | | | | | | | Financial Assets| | | | | | | Cash & Short Term Inv.| | 730,127,861| 666,457,098| 487,957,516| 217,964,953| 44,439,884| | | 730,127,861| 666,457,098| 487,957,516| 217,964,953| 44,439,884| Financial Liabilities| | | | | | | Short Term Debt and Current LTD| | 368,264,879| 187,454,574| 179,660,126| 157,788,551| 157,243,353| Long Term Debt| | 2,381,682,472| 2,267,166,877| 2,368,374,899| 2,064,168,224| 1,776,526,012| | | 2,749,947,351| 2,454,621,451| 2,548,035,025| 2,221,956,776| 1,933,769,364| Net Financial Liabilities (Assets)| | 2,019,819,490| 1,788,164,353| 2,060,077,509| 2,003,991,822| 1,889,329,480| Shareholders’ Equity| | 1,930,051,995| 1,273,311,356| 1,180,788,066| 765,484,813| 464,027,746| check| | 0| 0| 0| 0| 0| REFORMULATED INCOME STATEMENT| | | | | | | Sales| | 1,617,426,750| 1,418,025,552| 1,280,394,033| 914,982,769| 761,470,520| Total Costs| | 864,089,928| 1,074,545,110| 934,371,331| 648,407,418| 932,758,092| Earnings before Interest and Taxation (EBIT)| 753,336,821| 343,480,442| 346,022,701| 266,575,350| -171,287,572| Tax| | 56,556,246| 69,934,700| 12,143,668| 33,884,638| -107,697,977| Income after Taxation| | 696,780,576| 273,545,741| 333,879,034| 232,690,713| -63,589,595| Net Interest| | 97,912,688| 98,364,669| -10,343,765| 84,832,360| 79,925,723| Net Income (before Pref Dividends & Minority Interests)| 598,867,888| 175,181,073| 344,222,799| 147,858,353| -143,515,318| TAX-SHIELD| | | | | | | Effective Tax Rate| | 7.5%| 20.4%| 3.5%| 12.7%| 62.9%| Net Interest| | 97,912,688| 98,364,669| -10,343,765| 84,832,360| 79,925,723| Tax Shield| | 7,350,728| 20,027,643| -363,014| 10,783,119| 50,253,725| TAX-ADJUSTED OPERATING INCOME| | | | | | | Operating Income (with tax shield)| | 689,429,848| 253,518,098| 334,242,048| 221,907,593| -113,843,321| Net Financing Costs| | 90,561,960| 78,337,026| -9,980,751| 74,049,241| 29,671,997| Net Income| | 598,867,888| 175,181,073| 344,222,799| 147,858,353| -143,515,318| AVERAGED BALANCE SHEEETS| | | | | | | Operating Assets| OA| 4,092,455,500| 3,565,047,574| 3,232,149,771| 2,675,732,883| 1,298,921,526| Operating Liabilities| OL| 586,781,902| 413,876,932| 226,978,666| 114,315,953| 65,446,413| Net Operating Assets| NOA| 3,505,673,597| 3,151,170,642| 3,005,171,105| 2,561,416,930| 1,233,475,113| Financial Assets| FA| 698,292,480| 577,207,307| 352,961,235| 131,202,419| 26,432,942| Financial Liabilities| FL| 2,602,284,401| 2,501,328,238| 2,384,995,900| 2,077,863,070| 991,642,182| Net Financial Liabilities (Assets)| NFL(NFA)| 1,903,991,922| 1,924,120,931| 2,032,034,666| 1,946,660,651| 965,209,240| Shareholders’ Equity| SE| 1,601,681,676| 1,227,049,711| 973,136,439| 614,756,279| 268,265,873| check| | 0| 0| 0| 0| 0| Sales| SA| 1,617,426,750| 1,418,025,552| 1,280,394,033| 914,982,769| 761,470,520| Operating Income (with tax shield)| OI| 689,429,848| 253,518,098| 334,242,048| 221,907,593| -113,843,321| Net Financing Costs| NFC| 90,561,960| 78,337,026| -9,980,751| 74,049,241| 29,671,997| Net Income| NI| 598,867,888| 175,181,073| 344,222,799| 147,858,353| -143,515,318| ROE DECOMPOSITION| | | | | | BASIC ANALYSIS| | | | | | | ATO (sales / net operating assets)| | 0.46| 0.45| 0.43| 0.36| 0.62| PM (operating income / sales)| | 42.63%| 17.88%| 26.10%| 24.25%| -14.95%| ROA (operating income / net operating assets)| 19.67%| 8.05%| 11.12%| 8.66%| -9.23%| check| | 0.00| 0.00| 0.00| 0.00| 0.00| CLEV (net operating assets / equity)| | 2.19| 2.57| 3.09| 4.17| 4.60| ILEV (operating income / net income)| | 1.15| 1.45| 0.97| 1.50| 0.79| ROE ( net income / equity)| | 37.39%| 14.28%| 35.37%| 24.05%| -53.50%| check| | 0.00| 0.00| 0.00| 0.00| 0.00| SPREAD ANALYSIS| | | | | | | ROA| | 19.67%| 8.05%| 11.12%| 8.66%| -9.23%| Borrowing Rate (net financing costs / net financial liabilities)| 4.76%| 4.07%| -0.49%| 3.80%| 3.07%| Spread (ROA – financing costs)| | 14.91%| 3.97%| 11.61%| 4.86%| -12.30%| FLEV (net financial liabilities / equity)| | 1.19| 1.57| 2.09| 3.17| 3.60| Leveraged Spread| | 17.72%| 6.23%| 24.25%| 15.39%| -44.27%| ROE| | 37.39%| 14.28%| 35.37%| 24.05%| -53.50%| check| | 0.00| 0.00| 0.00| 0.00| 0.00| Qantas ANALYSIS| 　| 　| 　| 　| 　| 　| REFORMULATED BALANCE SHEET| | 06/30/2012 NZD preliminary| 06/30/2011 NZD| 06/30/2010 NZD restated| 06/30/2009 NZD| 06/30/2008 NZD| Operating Assets| | | | | | | Net Receivables| | 1,138,830,550| 1,099,506,200| 918,979,200| 914,755,950| 955,587,900| Total Inventories| | 385,418,800| 398,263,200| 269,443,350| 269,443,350| 202,112,500| Prepaid Expenses| | 410,020,000| 434,663,600| 326,034,900| 326,034,900| 0| Other Current Assets| | 89,179,350| 23,553,200| 86,154,300| 90,377,550| 287,808,200| Net Property, Plant & Equip.| | 14,493,181,950| 14,615,831,200| 10,571,639,400| 10,571,639,400| 9,826,709,750| Other Assets| | 1,618,553,950| 1,675,489,000| 1,319,343,300| 1,319,343,300| 1,558,691,600| | | 18,135,184,600| 18,247,306,400| 13,491,594,450| 13,491,594,450| 12,830,909,950| Operating Liabilities| | | | | | | Accounts Payable| | 661,157,250| 639,148,200| 506,790,000| 506,790,000| 482,644,650| Accrued Payroll| | 0| 0| 0| 0| 337,932,100| Income Taxes Payable| | 0| 0| 0| 0| 0| Dividends Payable| | 0| 0| 0| 0| 4,042,250| Other Current Liabilities| | 5,488,117,700| 5,418,306,600| 4,232,541,150| 4,241,832,300| 4,111,776,700| Provisions for Risks & Charges| | 755,461,850| 692,678,200| 473,004,000| 473,004,000| 430,903,850| Deferred Income| | 1,164,456,800| 1,189,436,600| 901,241,550| 914,755,950| 1,024,306,150| Deferred Taxes| | 660,132,200| 821,150,200| 603,924,750| 603,924,750| 490,729,150| Other Liabilities| | 229,611,200| 527,805,800| 195,114,150| 195,114,150| 216,664,600| | | 8,958,937,000| 9,288,525,600| 6,912,615,600| 6,935,421,150| 7,098,999,450| Net Operating Assets| | 9,176,247,600| 8,958,780,800| 6,578,978,850| 6,556,173,300| 5,731,910,500| | | | | | | | Financial Assets| | | | | | | Cash & Short Term Inv.| | 3,573,324,300| 4,083,268,400| 3,325,387,050| 3,325,387,050| 3,377,704,100| | | 3,573,324,300| 4,083,268,400| 3,325,387,050| 3,325,387,050| 3,377,704,100| Financial Liabilities| | | | | | | Short Term Debt and Current LTD| | 1,147,030,950| 617,736,200| 532,129,500| 522,838,350| 491,537,600| Long Term Debt| | 5,566,021,500| 5,839,052,400| 4,320,384,750| 4,306,870,350| 3,957,362,750| | | 6,713,052,450| 6,456,788,600| 4,852,514,250| 4,829,708,700| 4,448,900,350| Net Financial Liabilities (Assets)| | 3,139,728,150| 2,373,520,200| 1,527,127,200| 1,504,321,650| 1,071,196,250| Shareholders’ Equity| | 6,036,519,450| 6,585,260,600| 5,051,851,650| 5,051,851,650| 4,660,714,250| check| | 0| 0| 0| 0| 0| REFORMULATED INCOME STATEMENT| | | | | | | Sales| | 16,117,886,200| 15,945,516,400| 11,632,519,800| 11,632,519,800| 11,764,564,400| Total Costs| | 16,221,416,250| 15,412,357,600| 11,379,969,450| 11,379,969,450| 11,506,668,850| Earnings before Interest and Taxation (EBIT)| -103,530,050| 533,158,800| 252,550,350| 252,550,350| 257,895,550| Tax| | -107,630,250| 79,224,400| 52,368,300| 52,368,300| 46,890,100| Income after Taxation| | 4,100,200| 453,934,400| 200,182,050| 200,182,050| 211,005,450| Net Interest| | 254,212,400| 187,355,000| 102,202,650| 102,202,650| 111,566,100| Net Income (before Pref Dividends & Minority Interests)| -250,112,200| 266,579,400| 97,979,400| 97,979,400| 99,439,350| TAX-SHIELD| | | | | | | Effective Tax Rate| | 104.0%| 14.9%| 20.7%| 20.7%| 18.2%| Net Interest| | 254,212,400| 187,355,000| 102,202,650| 102,202,650| 111,566,100| Tax Shield| | 264,280,218| 27,839,900| 21,192,523| 21,192,523| 20,284,745| TAX-ADJUSTED OPERATING INCOME| | | | | | | Operating Income (with tax shield)| | -260,180,018| 426,094,500| 178,989,527| 178,989,527| 190,720,705| Net Financing Costs| | -10,067,818| 159,515,100| 81,010,127| 81,010,127| 91,281,355| Net Income| | -250,112,200| 266,579,400| 97,979,400| 97,979,400| 99,439,350| AVERAGED BALANCE SHEEETS| | | | | | | Operating Assets| OA| 18,191,245,500| 15,869,450,425| 13,491,594,450| 13,161,252,200| 6,415,454,975| Operating Liabilities| OL| 9,123,731,300| 8,100,570,600| 6,924,018,375| 7,017,210,300| 3,549,499,725| Net Operating Assets| NOA| 9,067,514,200| 7,768,879,825| 6,567,576,075| 6,144,041,900| 2,865,955,250| Financial Assets| FA| 3,828,296,350| 3,704,327,725| 3,325,387,050| 3,351,545,575| 1,688,852,050| Financial Liabilities| FL| 6,584,920,525| 5,654,651,425| 4,841,111,475| 4,639,304,525| 2,224,450,175| Net Financial Liabilities (Assets)| NFL(NFA)| 2,756,624,175| 1,950,323,700| 1,515,724,425| 1,287,758,950| 535,598,125| Shareholders’ Equity| SE| 6,310,890,025| 5,818,556,125| 5,051,851,650| 4,856,282,950| 2,330,357,125| check| | 0| 0| 0| 0| 0| Sales| SA| 16,117,886,200| 15,945,516,400| 11,632,519,800| 11,632,519,800| 11,764,564,400| Operating Income (with tax shield)| OI| -260,180,018| 426,094,500| 178,989,527| 178,989,527| 190,720,705| Net Financing Costs| NFC| -10,067,818| 159,515,100| 81,010,127| 81,010,127| 91,281,355| Net Income| NI| -250,112,200| 266,579,400| 97,979,400| 97,979,400| 99,439,350| ROE DECOMPOSITION| | | | | | BASIC ANALYSIS| | | | | | | ATO (sales / net operating assets)| | 1.78| 2.05| 1.77| 1.89| 4.10| PM (operating income / sales)| | -1.61%| 2.67%| 1.54%| 1.54%| 1.62%| ROA (operating income / net operating assets)| -2.87%| 5.48%| 2.73%| 2.91%| 6.65%| check| | 0.00| 0.00| 0.00| 0.00| 0.00| CLEV (net operating assets / equity)| | 1.44| 1.34| 1.30| 1.27| 1.23| ILEV (operating income / net income)| | 1.04| 1.60| 1.83| 1.83| 1.92| ROE ( net income / equity)| | -3.96%| 4.58%| 1.94%| 2.02%| 4.27%| check| | 0.00| 0.00| 0.00| 0.00| 0.00| SPREAD ANALYSIS| | | | | | | ROA| | -2.87%| 5.48%| 2.73%| 2.91%| 6.65%| Borrowing Rate (net financing costs / net financial liabilities)| -0.37%| 8.18%| 5.34%| 6.29%| 17.04%| Spread (ROA – financing costs)| | -2.50%| -2.69%| -2.62%| -3.38%| -10.39%| FLEV (net financial liabilities / equity)| | 0.44| 0.34| 0.30| 0.27| 0.23| Leveraged Spread| | -1.09%| -0.90%| -0.79%| -0.90%| -2.39%| ROE| | -3.96%| 4.58%| 1.94%| 2.02%| 4.27%| check| | 0.00| 0.00| 0.00| 0.00| 0.00| Company | Return On Equity Per Share[Y2008]| Return On Equity Per Share[Y2009]| Return On Equity Per Share[Y2010]| Return On Equity Per Share[Y2011]| Return On Equity Per Share[Y2012]| 1| 　| 　| 　| 　| 　| 2| -27.03| 25.33| 33.93| 14.46| 36.86| 3| 6.1| 20.38| 10.32| -18.51| -27.24| | 　| 　| 　| -16.22| 6.01| Malaysia industry average| -10.47%| 22.86%| 22.13%| -6.76%| 4.81%| | | | | | | 1| 17.02| 2| 1.89| 4.09| -4.07| 2| 22.45| 19.73| 18.2| 11.46| 15.25| 3| 11.61| -21.09| 2.26| -7.32| 2.36| Austrilia industry average| 17.03%| 0.21%| 7.45%| 2.74%| 4.51%| | | | | | | | 　| 　| 　| 　| 　| | Return On Equity Per Share[Y2008]| Return On Equity Per Share[Y2009]| Return On Equity Per Share[Y2010]| Return On Equity Per Share[Y2011]| Return On Equity Per Share[Y2012]| 1| -37.81| 22.91| 39.91| 17.15| 10.29| 2| 14.73| 1.33| 5.13| 5.29| 4.46| 3| -27.03| 25.33| 33.93| 14.46| 36.86| 4| 15.02| -1.08| -13.73| 4.69| 5.27| 5| -19.27| 11.89| 29.11| 9.99| 1.62| 6| -76.38| 57.88| 57.42| 19.5| 17.28| 7| -70.4| -11.18| 23.64| -4.06| 0.1| 8| -51.42| 4.23| 34.87| 17.31| 8.15| 9| -27.96| -10.48| 33.11| 0.5| 1.31| 10| 19.69| 39.08| 9.61| 13.94| 10.66| 11| -20.6| 5.01| 30.35| 19.6| 10.79| 12| -20.47| -30.29| -21.4| -5.16| -14.43| 13| -26.05| -3.37| 14.11| -9.31| 9.83| 14| 6.1| 20.38| 10.32| -110.51| -27.24| 15| -0.11| -13.94| 9.05| 85.17| -13.52| 16| 17.02| 2| 1.89| 4.09| -4.07| 17| 22.45| 19.73| 18.2| 11.46| 15.25| 17| 16.21| 43.36| 56.31| 44.68| 25.97| 18| 13.1| 7.31| 1.58| 7.88| 2.48| 19| -37.71| 14.89| 24.31| -14.64| 9.45| 20| -14.02| 0.34| 17.5| 10.69| 1.37| 21| 11.61| -21.09| 2.26| -7.32| 2.36| Asia & Pacific Region industry average| -13.33%| 8.37%| 18.98%| 6.15%| 5.19%|