Monday, May 25, 2020
Do you need to replace one ingredient with another in a recipe? Apply a bit of cooking chemistry to save your project.Ã This is a table of ingredient substitutions that you can make when baking. Changing the ingredient may affect the taste and texture of your recipe slightly, but this list should help prevent major differences. ammonium bicarbonate - 3/4 teaspoon1 tsp baking soda baking powder (single-acting) - 1 teaspoon1/4 teaspoon baking soda plus 1/2 teaspoon cream of tartar plus 1/4 teaspoon cornstarch baking powder (double-acting) - 1 teaspoon1/4 teaspoon baking soda plus 1/2 teaspoon cream of tartar plus 1/4 teaspoon cornstarch. Use 1 tsp for every 1 cup of flour. baking soda - 1/2 teaspoon2 teaspoons double-acting baking powder (replace the acidic liquid in recipe with non-acidic liquid) baking soda - 1/2 teaspoon1/2 teaspoon potassium bicarbonate buttermilk - 1 cup (240 ml)1 tablespoon lemon juice or vinegar plus enough milk to make 1 cup (240 ml) (let mixture stand 5-10 minutes)more buttermilk recipes cake flour - 1 cup (130 grams)3/4 cup (105 grams) all purpose flour plus 2 tablespoons (30 grams) cornstarch cake flour - 1/3 cup1/3 cup all-purpose flour less 1/2 teaspoon chocolate (bittersweet or semi-sweet) - 1 ounce (30 grams)1/2 ounce (15 grams) unsweetened chocolate plus 1 tablespoon (15 grams) granulated sugar chocolate (unsweetened) - 1 ounce (30 grams)3 tablespoons (20 grams) natural cocoa powder (not Dutch-processed) plus 1 tablespoon (14 grams) unsalted butter, shortening, or vegetable oil cocoa powder, Dutch-Processed - 3 tablespoons (20 grams)1 ounce (30 grams) unsweetened chocolate plus 1/8 teaspoon baking soda. Also reduce fat in recipe by 1 tablespoon. cocoa powder, natural unsweetened - 1 ounce (30 grams) unsweetened chocolate. Also reduce fat in recipe by 1 tablespoon. coffee, strong - 1/4 cup (60 ml)2 tablespoons (10 grams) instant coffee in 3 tablespoons hot water corn syrup, dark - 1 cup (240 ml)3/4 cup (180 ml) light corn syrup plus 1/4 cup (60 ml) light molasses corn syrup, light - 1 cup (240 ml)1 cup (200 grams) granulated white sugar (increase the liquid in the recipe by 1/4 cup or 60 ml) cornstarch (for thickening) - 1 tablespoon (15 grams)2 tablespoons (25 grams) all purpose flour cream of tartar - 1/2 teaspoon1/2 teaspoon white vinegar or lemon juice cream - half-and-half - 1 cup (240 ml)7/8 cup (210 ml) whole milk plus 2 tablespoons (25 grams) melted unsalted butter cream, heavy (not for whipping) - 1 cup (240 ml)2/3 cup (160 ml) whole milk plus 1/3 cup (75 grams) melted unsalted butter flour, self-rising - 1 cup (140 grams)1 cup (140 grams) all-purpose flour plus 1-1/2 teaspoons baking powder plus 1/4 teaspoon salt flour, whole wheat - 1 cup (150 grams)7/8 cup (120 grams) all-purpose flour plus 2 tablespoon (6 grams) wheat germ honey - 1 cup (240 ml)3/4 cup (180 ml) light or dark corn syrup plus 1/2 cup (100 grams) granulated sugar lard - 1/2 cup (113 grams)1/2 cup (113 grams) solid vegetable shortening lard - 1/2 cup (113 grams)1/2 cup (113 grams) plus 1 tablespoon (14 grams) unsalted butter marshmallow cream - 2.5 ounces8 large marshmallows or 1 cup miniature marshmallows milk (sweetened condensed) - 14 ounce can (396 grams)blend 1 cup instant nonfat dry milk plus 2/3 cup (135 grams) granulated sugar plus 3 tablespoons (35 grams) melted unsalted butter plus 1/2 cup (120 ml) boiling water milk (evaporated whole) - 1 cup (240 ml)1 cup (240 ml) half half milk (whole) - 1 cup (240 ml)1 cup (240 ml) skim milk plus 2 tablespoons (25 grams) melted butter or margarine molasses - 1 cup (240 ml)1 cup (240 ml) dark corn syrup sour cream - 1 cup (225 grams or 8 ounces)1 cup plain yogurt sour cream - 1 cup (225 grams or 8 ounces)1 tablespoon lemon juice or vinegar plus whole milk to fill 1 cup (240 ml) tapioca, instant or quick-cooking - 1 tablespoon (12 grams)1-1/2 tablespoons (20 grams) flour vinegar - 1/4 cup (60 ml)1/3 cup (80 ml) freshly squeezed lemon juice yogurt, plain - 1 cup (225 g)1 cup (225) sour cream
Thursday, May 14, 2020
Sample details Pages: 11 Words: 3377 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? What is finance? Finance is all about the knowledge of funds management. Simply speaking, to finance something is the same as to fund something. The funds can be in form of loans, bonds, owned capital, shares, etc (anything that can generate funds legally). So in finance, we learn anything that directly or indirectly related to funds management. Whether it is interest rate, time value of money, the calculation of risk, how to measure movement of share price, etc. All of these are related to finance. Direct Finance. Direct finance comprises of every direct transaction on the financial market, transaction with no middleman or agent. For example: Shareholders buy share to fund a company or buy government bonds to finance the government. Another example of direct finance is the internal capital market of multinational organizations. Semi direct Finance: The bank acts like an agent or intermediate party. In return, they receive fee/commission for the transaction. Banks dont take position in the transaction; they strictly serve as a middleman and therefore are free from the risks that the transaction bears. DonÃ¢â¬â¢t waste time! Our writers will create an original "The Risks In Finance And The Basel Guidelines Finance Essay" essay for you Create order Indirect Finance In indirect finance, which most people referred to as banking, banks take the direction/initiatives of all of activities. For example they receive money from households and lend it to organizations. Its not the household decision anymore how to use the money (for financing purpose); therefore we call it indirect. For example: Households save their deposit into bank in return of interest and the bank decide to loan the money to others (person, organization, company, etc) at higher interest rate (the difference becomes the banks profit). That way the bank will make a profit. In other case, the bank can choose to enter the stock market or buying bonds of its own choosing, etc in order to generate profit. This is the basic of banking. Many different kinds of risks exposed to the bank. Banks are exposed to many risks such as: Liquidity risk. Liquidity risk means that a given asset cant be sold quickly enough in the market to avoid a loss. This is the case when illiquid assets have to be sold in a short term. This is similar with cash flow insolvency. For example: Properties (hard to sell without incurring a loss at a short period of time). Liquidity risk can also mean that a bank isnt capable of paying her debts at a short term (similar to cash flow insolvency). This is different with balance sheet insolvency (negative net assets, therefore unable to pay). A bank maybe balance sheet solvent but still exposed to liquidity risk if it holds lots of illiquid assets. For example: Northern Rock (a perfect example of bank run). A bank run happens when large number of bank customers withdraw their deposits at the same period of time because of the fear the bank is unable to pay. In Northern Rock case, when the global demand for securitised mortgages droppe d in August 2007, Northern Rock became unable to pay back the loans from the money market with money which should have been raised from securitisation. On 14 September 2007, the bank obtained a liquidity support facility from the Bank of England, to return the funds it was unable to get from the money market. The banks assets were enough to cover its liabilities, but it suffered from liquidity problem. Because of this news, Northern Rock suffered a bank run and needed government intervention to guarantee its customers money. Later on, Northern Rock is nationalized. Credit risk/ counterparty risk/ default risk. It can be defined as any loss in the market value due to different reasons. It means as an investors risk of loss arising from a borrower who fails to make payments as promised. Or, it can also mean the loss because of the difference in firm value/ company value because the bank credit rating (one of the example) collapsed due to something happening within the bank (borr ower fails to pay up, bad management, etc)/ indirectly related to the bank. Market risk. Market risk is the risk that the value of a portfolio, going to decrease because of the change in value of the market risk factors. In case this happens, the bank will occur a loss. The four main factors are stock prices, interest rates, foreign exchange rates, and commodity prices. Therere 4 different kinds of market risk, such as: Equity risk, the risk that stock prices will change. Foreign exchange rate risk, the risk that foreign exchange rates will change. Interest rate risk, the risk that interest rates will change. Commodity prices, the risk that commodity prices will change. Operational risk. Operational risk is the failure of the people of the procedures of the systems. For example the mistyped case (fat finger) or simply known as typo. Example: Buying shares for $500, but instead mistypes it once so it becomes $5000. One of the biggest examples of operatio nal risk is Barings Bank, collapsed in 1995 after its employees, Nick Leeson, lost $1.3 billion speculating primarily on futures contracts and subsequently lost it all. Leeson was able to operate with no supervision from head office because of the banks poor internal auditing and risk management practices. Another type of operational risk is legal risk. In order to operate, the bank must operate based on the government rules and regulation. This is how the legal risk arises. It is a risk that arises when the bank is not in compliance with government regulation and therefore hinders it to enter a transaction or to operate. It includes the time and money wasted for the legal proceedings (or as a result of it, such as opportunity lost, etc) that the bank must endure in case it is accused of illegal conduct (or vice versa). It is one of the greatest challenges for managers to make their bank in compliance with government regulation. It is very difficult to predict the size of legal r isk. Its also very bad for the banks reputation. Settlement risk Settlement risk can be described as the risk that a counterparty fails to deliver a security or its value in cash per agreement when the security was traded after the other counterparty have already delivered security or cash value per the trade agreement. For example: Foreign exchange settlement risk or simply known as Herstatt risk. On 26th June 1974, some banks had undertaken foreign exchange transactions with Herstatt and had already paid Deutsche Mark to the bank during the day, believing they would receive US dollars later the same day in the US from Herstatts US nostro. But at the end of banking day, Herstatts topped all dollar payments to counterparties. As a result, the banks license was withdrawn because of a shortage of income and capital to make up for liabilities that were due. Reputational risk. Reputational risk is a type of risk related to the reliability of company. It may result in lost revenue or damage to shareholder value, ignoring to the fact whether the bank is actually guilty or not. Its about the image of the bank. Therefore, its related to many risks. If the bank is unable to settle its transaction (transaction risk) or have bad operation (operation risk) or making a big loss in financial market because of market risk, they all can damage the banks reputation, etc. Any kind of actions, wrongdoings, news that can have negative impact to the bank (whether its directly or indirectly (such as counterparties or investors bad reputation) related to the bank) can be considered as reputational risk. Therefore, reputational risk is closely related to the other risk. Other risks. There are many other risks that are exposed to the bank but havent been described in the lecture yet, such as systemic risk (risk of the collapse of entire financial system/entire market. Example: Lehman brothers (almost happening)), profit risk, and volatility risk (the risk that ari ses because the likelihood of fluctuations in the exchange rate of currencies). Saving mechanisms. Lender of last resort. Lender of last resort, as the name speaks for itself, is an organization which is willing to lend money to a bank when theres no alternative left. Usually banks want to avoid doing this, because it is damaging to the banks reputation and shows that the bank is in some sort of trouble (like what happen to Northern Rock, once they asked the Bank of England to bail them out, they suffered a bank rush). Most of the time, lender of last resort is the central bank of the country. Deposit insurance system. Every bank has to put a small percentage/portion of every deposit that its customers made in an insurance pool that is used to back up the customers deposit. This is useful when a bank has some liquidity problems, customers dont need to be a scared to lose all their money. But put in mind that the portion is relatively small. Maybe it can cover small banks, but not the big one. Capital adequacy. Banks are obliged to have minimum capital requirements to prevent them from failing. The more capital they have, the safer they are to meet their financial demands and obligations (because capital is their own money and they can use it for their own needs and demands). Bad banks. Bad bank is a term for financial institution that are created to keep the nonperforming assets owned by a state guaranteed bank. Bad banks are legal institutions that are used to isolate toxic products in order to save the healthy part of the bank. It is sometimes used to save the majority of the banks. Intentionally lose the bank in order to keep the others safe and afloat. Government bailout. Sometimes the government put themselves in, bailing the bank, financial institution, etc, in order to save the financial market (or in bigger case, the nations economy itself) from crisis and prevent it from systemic risk / collapsing. Capital Adequacy (Lecture 2). Basel I: Basel I is discussions by central bankers around the world in the year 1988 and resulted in a set of guideliness about minimal capital requirements for banks in case they want to lend their money . It was used by the G-10 countries before a more advanced guideliness made (notably Basel II). How Basel I works? Basel I implies that every time a bank makes a loan to other institution (then in balance sheet of the bank it is put on debit side by nature), the bank needs to have certain amount of equity on its credit side as a backup in case the loan gone bad. Example: If you give loan for $100 and put $100 on your asset side (left side of balance sheet), youll need to have 8 (as example) as equity on the liability side (right side of balance sheet. This 8 is different for different type of assets. Lending to government is much safer than lending money to corporation. How to differentiate it? We use risk weight. Example: If the lender is government, we use risk weight of 0% ( we assume the government is perfectly safe). For bank we use a risk weight of 20%. For mortgage loan we use a risk weight of 50%. For company, which is the riskiest of them all, we use full weight (100%) to calculate the equity needed to backup the loan. Bottom line is the bank differ the equity needed to cover up the loan based on whos borrowing it (government being the safest and therefore have 0% risk weight, company being the most risky and therefore have 100% risk weight. And therefore we have the risk weighted assets of banks. Calculated as the different types of assets that bank has, multiply by the risk rate, then multiply by the predetermined equity that needs to be keep (in this case $8 for every $100 of loan). Example: Loan of $100 to government (asset side), then, equity needed = $8 X 0% = $0 (liability side). Loan of $100 to company, then, equity needed = $8 X 100% = $8 and so on. Amendment 1996: Capital has to be set aside for Market Risk. In Basel I there was no rule for modeling. The only thing we did was classifying. Bank need to look this amendment and make a benchmark model for its own use. Translate it into percentage of returns. Create a histogram and cut off the tail (1% probability mass). The position of cut off tail is the value at risk (VAR). It determines which position is accepted and which one is below standard and therefore imposed to extra charge. It is a quantile of distribution. It is the base on which the capital set aside for market risk is calculated. Now bank has to model the changes in the value of the portfolio of the company/ borrower. If a company exceeds this VAR (loss is bigger than VAR) by 1%, then the company performs well. If it exceeds 1%, then company will receive an extra capital charge. Usually the multiplier is 3 (can be more). Bank has to present this model to the regulator. Basel II Basel II is an improved second version of Basel I. Basel II had undergone many proposal and updates as well as received much response. Quantitative impact studies Ãâ Ã¢â¬â¢ÃâÃ banks implement Basel II on a trial basis to check if it has an impact on their capital etc. There are 3 main point need to be stressed out on Basel II, such as: First pillar: Capital adequacy. Basel II still keeps the 1996 amendment with respect to market risk. Banks still have to keep capital aside for credit risk. Credit risk can be calculated in 3 ways component can be calculated in three different ways, such standardized approach, foundation IRB and advanced IRB. In standardized approach, risk weights are different for each individual borrower in each group. So now there is a credit rating (which is generated by external parties) which is different for each category. Lending to blue-chip company is absolutely safer than lending money to small unknown company. This is what Basel I lacks . The borrower is regrouped 2 times, therefore it is more accurate (we simply multiply the equity needed one more time based on the borrower rating which holds different rate of multiplier). Alternatively, bank can use Internal Rating-Based approach (banks are allowed to model the default probabilities of their own customers) was proposed. Second pillar: supervisory review. All banks have to model their economic capital and regulatory capital (the capital that the bank has to maintain in compliance with the law). Moreover, banks operate on the economic capital (their working condition), which (usually) is above the legal minimum. It gives the regulators much improved instruments compared to Basel I and framework to deal with the risk that a bank may face such as reputational risk, systemic risk, etc. It gives bank the ability to examine its own risk management system. Third pillar: market discipline, which means accounting disclosure. The idea is that we can safeguard banks if we let them disclose the riskiness of their positions. Bank needs to have a system in place to at least produce these numbers. By opening up their position, banks will be more thoughtful and careful in their actions. And regulator can keep track of them as well. 2.1. Financial market products. There are a lot of financial products; all has its own characteristic and classification. Examples of financial products are: Shares equity: : Certificates that represent that an investor has already invested in some form of investments (in the form of a company, etc) and therefore he/ she owns a portion of that investment and any underlying asset beneath it and entitled to claim any gains from that investment. Bonds: Certificates that represent money a government or corporation has borrowed from other entities. T-bills (Treasury Bills): Short term debt obligation guaranteed by the US Government with maturity of less than a year. Options: A contract that provides the buyer with the right to buy or to sell an underlying asset at a specific price during a specified time period. Futures: Contract between 2 parties to buy/ sell a standardized asset at specified future date with the price agreed today. Forwards: Same as futures with the exception that they are not exc hange-traded or standardized. Swaps: Agreement between parties to swap the benefits of their financial instrument. For example: In bonds, both parties agree to swap the coupon payments related with the bonds. Both coupon payments can have different payment timing and value. Commodities: Sold in commodity market where primary/ raw products are exchanged. Can be in form of derivatives trading or direct physical trading. Commercial paper: Corporations short term debt instrument (1 to 270 days), usually used forÃ theÃ funding of accounts receivable,Ã inventories or toÃ meet short-term liabilities. Strips (Separate Trading of Registered Interest and Principal Securities), as the name speaks for itself, strips is a seperate trading for the interest / principal portion for the securities. It is cut into different pieces which are sold separately. By this, strips can also give buyer a tax advantage (typical in Belgium). Medium term notes: A debt note that matures in 5 -10 years (usually). Foreign Exchange (Forex): Over the counter financial market for trading currencies. Forex have been known to use spot transaction regularly. In contrast with derivatives, the buyer buy right now, pay within 2-3 days time and you get instruments at that same period as well. Life insurance: Contract between the policy owner and insurer that the insurer will pay a sum of money to the owner in case of events (death, critical illness, etc). In relation to finance market, life insurance policy is so often combined with investment (get insured and have investment, managed by the insurer), with the exception of pure protection life insurance. Asset Backed Securities: A security whose value and payments determined by a specifically designed pool of underlying asset, usually illiquid assets. Doing so will allowed the asset to be sold into the financial market, therefore comes the term securitization (making securities from illiquid asset). Mortgage Backed Secu rities: The same as Asset Backed Securities, instead the cash flows now comes mortgage loans (underlying asset). Convertible bonds: A bond that can be converted to common stock shares at equal value by the issuing company. Repo (repurchase agreement): Agreement that lets the seller to buy back the securities from the buyer at a later date (usually a short one). 70% of repos mature in less than 7 days. Interbank loan: Direct loans between two banks to cover up their financial needs using predetermined interest rates (LIBOR Rates, etc). Credit Default Swap: Swap contract between buyer and seller with the buyer pays a series of payments to sell as an exchange of payoff in case a credit event happens to a credit instrument that currently being swapped. As the name speaks for itself, it swaps the default risk from one party to another in turns of payment. Mutual funds: Collective investment funds, gathered from numerous amount of people, institution and company and is mana ged by a professional fund manager, usually a bank, insurance company or investment company (and therefore the manager collects commission from it). The fund manager then can decide where to invest the fund in the financial market and therefore forming a portfolio. They also have different taxing implication than others. These financial products can be classified into many types (highlighted with different color), such as: Derivative (green color) is a financial tool, an agreement between 2 parties to transact something else (underlying asset). Therefore, derivatives value is determined by its underlying asset. Example: Option to buy AA shares for $20. If share AA goes up to $30, the option is worth $10. If share AA goes $20 or below, the option worth nothing. Thats option it is dependent to the value of its underlying asset. Its a type of linear products that gives you win-lose situation when bought and have a timeframe in it for it to do some effect (to gain or to lose). Money market (yellow color) and Capital Market (blue color). The main difference between money market and capital market is in the time to maturity / time frame. Money market being relatively short term (less than 1 year) and capital market being relatively long term (more than 1 year). The rest of the products such as commodities and Forex are slightly different and therefore have their own categories. Thats all about the summary of first and second lecture of CAF. We hope you find it useful.
Wednesday, May 6, 2020
Home assignment on Whole Foods Market 1. Related products Whole Foods Market only sells products that meet its self-created quality standards for being natural, which the store defines as: minimally processed foods that are free of hydrogenated fats as well as artificial flavors, colors, sweeteners, preservatives and products that are listed on their online Unacceptable Food Ingredients list. Whole Foods Market has also announced that it does not intend to sell meat or milk from cloned animals or their offspring, even though the U.S. Food and Drug Administration (FDA) has ruled them safe to eat. The company also sells many USDA-certified organic foods and products that aim to be environmentally friendly and ecologicallyÃ¢â¬ ¦show more contentÃ¢â¬ ¦They support what their consumers do. And then there is the political segment, which is the Ã¢â¬Å"Ã¢â¬ ¦arena in which organizations and interest groups compete for attention, resources, and a voice in overseeing the body of laws and regulations guiding the interactions among nationsÃ¢â¬ (H itt). This segment is very important to Whole Foods, as well as any other organic food retailer. It is important because all products have to pass FDA approval, if not then there goes waste of time and money. Whole Foods Market has been able to understand this segment, and by doing so has created their own policies when processing foods. This action not only adds creditability, but also assures that government regulations will be followed thoroughly. 3. In which industry does WFM compete and what are the dominant characteristics of this industry? The organic and natural food industry is a relatively large and popular one that continues to grow with every passing day. In the organic industry the Ã¢â¬Å"Ã¢â¬ ¦range of competitors include chain and independent supermarkets; mass merchandisers and super centers; convenience stores; wholesale clubs; restaurants and fast food chains; natural food stores; local farmersÃ¢â¬â¢ markets, and internet grocersÃ¢â¬ (Lytel). Global growth of organic agriculture has gained much popularity, which continues to accumulate attention. The reason for that is simple, it is because this industryÃ¢â¬ ¦ Ã¢â¬Å"Ã¢â¬ ¦can be a profitable, sustainable business for those producers interested inShow MoreRelatedComparing Whole Foods and Trader JoeÃ¢â¬â¢s1345 Words Ã |Ã 6 PagesComparing Whole Foods and Trader JoeÃ¢â¬â¢s For our case assignment, we decided to compare two grocery stores popular in the NYC area: Whole Foods and Trader JoeÃ¢â¬â¢s. 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(Sparrow, Brewster and Harris, 2004) However, although the model has its advantages in terms of pre-assignment preparatio n, some of the stages however do bring about some complexities for IM managers as outlined for by (Sparrow, Brewster and Harris, 2004) Selection- the need for precise recruitment and selection is needed; IM managers need to payRead MoreMarketing Case Study on Starbucks Coffee Essay1035 Words Ã |Ã 5 PagesGalVal Instructor: Mr Tom Wall Section #: _25___ Assignment #2: Actual Case Study - Starbucks Coffee 1. The main or primary product that Starbucks sells or distributes is coffee beverages but, according to this article or company analysis, it also now offers a whole line of complementary products - from sandwiches to CDs! Yet essentially, Starbucks product was the de- velopment of the ultimate, out of home (OOH) coffee-drinking experience; also referred to as theRead MoreA Report On The Restaurant Group Plc1742 Words Ã |Ã 7 PagesCoventry University Ã¢â¬â London Campus M002LON Sustainable Strategy Assignment: Formative Assessment Name: Nguyen Thi Ngoc Quynh Student ID: 5963386 Tutor: Jon Kitto Submission date: Word count: Executive Summary: Introduction: The Restaurant Group plc (Ã¢â¬Å"TRGÃ¢â¬ or Ã¢â¬Å"the GroupÃ¢â¬ ) is the leading British chain of restaurant, which were originally founded in 1987 with the establishment of GarfunkelÃ¢â¬â¢s chain of restaurants. During the period of time from 1987 to 2014, the Group operates overRead MoreNew Product Development1020 Words Ã |Ã 5 Pagesbusiness in the country. For the last decade, the frozen pizza market was growing the fastest within the entire US frozen food industry, reporting at a rate of 29,2% between 1995 and 2000. This was caused by the introduction of the Ã¢â¬Ërising crustÃ¢â¬â¢ technology, through which frozen pizza got almost the quality of the pizza offered in restaurants. This had a declining effect on the other three segments of the pizza branch (dine-in, take away and home delivery), because now having almost the same quality, frozenRead MoreMcdonald s, Burger King And Wendy s I Started1302 Words Ã |Ã 6 PagesIndividual Assignment #1 Comparing McDonaldÃ¢â¬â¢s, Burger King and WendyÃ¢â¬â¢s I started to see some interesting aspects to their marketing strategies. First by focusing on their main economic characteristics, secondly looking more in depth at the competition and driving forces, and lastly their key success factors. They have been striving to make changes to increase market shares as well as trying to dominate a global fast food industry by competing in the products, places, prices, and promotions they offerRead MoreField Assignment1404 Words Ã |Ã 6 PagesOlivia Gorena MRKT 1001- Field Assignment #1 1. (a) Find mission statements for three of your favorite companies or consumer brands. Explain how the mission statement for each gives a strategic direction. Explore the strengths and weaknesses of each and make recommendations how these can be streamlined to give better understanding. (b) Create a mission statement for your own career. Explain how this will help you in the job market. 1. Favorite Companies/ Brands i. Tofurky
Tuesday, May 5, 2020
Question: Discuss about theInternational Law for Contract for International Sale of Good. Answer: The United Nation Convention on Contract for International Sale of Goods is an international Treaty which has been ratified by 89 States. The treaty had been entered up on into for the purpose of establishing uniform International sales law. This treaty is also often referred to as the Vienna Convention. The primary purpose of the Treaty is to make arrangements for exporters in order to help them avoid issues in relation to choice of law. Through this treaty accepted substantial rules are provided which may be relied upon by the courts, arbitrators and contracting parties to resolve contractual issues. Where an Express term of a contract does not prohibit the incorporation of the Treaty it is deemed to be present in relation to contract between parties belonging to the member states of the Treaty. The application of the Treaty is done in relation to contract for sale of goods between those parties who operate in different states and the states are contracting states. The provisions o f the Treaty is also applicable in situation where one of the parties to the contract belong to a non contracting state and the conflict of law rules provides that the law of the contracting state would be applicable. The application of the Treaty is done in relation to Commercial products and goods only. In the light of certain exceptions the application of the Treaty cannot be done in relation to household, family or personal goods along with aircrafts, ships and intangible services. The parties to the contract have the right of excluding the incorporation of the Treaty into the contract. The Treaty is considered to be as the backbone of all countries international trade. Identified issue In the given situation the contract which has taken place between BigMi and the seller is between the contracting states of the convention. This is because the BigMi Company belongs to China who is a member of the convention and the seller belongs to the United States of America who is also a member of the convention. Thus as both the states from where the parties to the contract belong to the contracting states the provisions of CISG would be applicable. The issue which has been identified in the given situation is that the seller was supposed to receive a letter of credit as soon as the ship with the goods had been dispatched however BigMi has failed to provide the letter of credit to the seller as they were able to procure the goods at a less price. In the given situation the seller has been subjected to losses as it had to sell the goods at a lesser price and also include the cost of the charter. It has been provided through article 9 of the convention that any terms which have b een agreed by the parties between themselves are binding upon them. Therefore in the given situation as the letter of credit had not been provided to the seller when the goods were dispatched by the seller, BigMi have breached the contract with the seller. The primary issue is thus the breach of contract. In the given it has been provided that the contract which has been formed between Big Mi and the seller have same states party. This is because both New York as well as California belongs to a single state, which is the United States of America. It has been provided through the provisions of Article 1 of the CISG that the provisions of the convention would only be applicable where the parties belong to different states. Thus the as per the first interpretation the parties would not be applied with CISG as they belong to the other states. On the other hand it has been provided through the case study that the parent company of Big Mi is in China. In situation where the subsidiary company is liable a claim is made from the parent company. In the given situation where the contract had been breached as per Article 9 and 25 of the convention by the subsidiary company in New York the parent company would be liable. If this interpretation is taken then the application of article 1 in this situation can be done. It has been provided through the provisions of Article 1 of the CISG that the provisions of the convention would only be applicable where the parties belong to different states. Here China and USA are different states and the parties to the CISG. Thus the CISG would be applicable. References The United Nation Convention on Contract for International Sale of Good
Tuesday, April 7, 2020
Absorption costing: * It is costing system which treats all manufacturing costs including both the fixed and variable costs as product costs * In absorption costing, all costs are absorbed into production and thus operating statements do not distinguish between fixed and variable costs. * Absorption costing is a process of tracing the variable costs of production and the fixed costs of production to the product. Absorption costing is used to cost products and to report financial performance. The cost of a product is made up of those direct costs that can be related directly to making it. For example the direct cost of a chair might be: 10 metres of wood at ? 6. 00 per metre 1 piece of moulded plastic 20 screws and washers 30 minutes of time Marginal costing: * It is a costing system which treats only the variable manufacturing costs as product costs. The fixed manufacturing overheads are regarded as period cost * In marginal costing, fixed production costs are treated as period cost and are written off as they are incurred The difference between marginal costing amp; absorption costing is as below: 1. We will write a custom essay sample on Absorption Costing or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Under marginal costing: for product costing amp; inventory valuation, only variable cost is considered whereas, Under absorption costing; for product costing amp; inventory valuation, both fixed cost amp; variable cost are considered. 2. Under marginal costing, there is a different treatment of fixed overhead. Fixed cost is considered as period cost amp; by Profit/Volume ratio (P/V ratio), profitability of different products is judged. On the other hand, under absorption costing system, the fixed cost is charged to cost of production. A reasonable share of fixed cost is to be borne by each product amp; thereby subjective apportionment of fixed overheads influences the profitability of product. 3. Under marginal costing, the presentation of data is so oriented that total contribution amp; contribution from each product gets highlighted. Under absorption costing, the presentation of cost data is on conventional pattern. After deducting fixed overhead, the net profit of each product is determined. 4. Under marginal costing, the unit cost of production does not get affected by the difference in the magnitude of opening stock amp; closing stock. Whereas, under absorption costing, due to the impact of the related fixed overheads, the unit cost of production get affected by the difference in the magnitude of opening stock amp; closing stock Financial Accounting Financial accounting is used to present the financial health of an organization to its external stakeholders. Board of directors, stockholders, financial institutions and other investors are the audience for financial accounting reports. Financial accounting presents a specific period of time in the past and enables the audience to see how the company has performed. Financial accounting reports must be filed on an annual basis, and for publically traded companies, the annual report must be made part of the public record. Management Accounting Management or managerial accounting is used by managers to make decisions concerning the day-to-day operations of a business. It is based not on past performance, but on current and future trends, which does not allow for exact numbers. Because managers often have to make operation decisions in a short period of time in a fluctuating environment, management accounting relies heavily on forecasting of markets and trends. Differences Management accounting is presented internally, whereas financial accounting is meant for external stakeholders. AlthoughÃ financial managementÃ is of great importance to current and potential investors, management accounting is necessary for managers to make current and future financial decisions. Financial accounting is precise and must adhere to Generally Accepted Accounting Principles (GAAP), but management accounting is often more of a guess or estimate, since most managers do not have time for exact numbers when a decision needs to be made. Management Accounting (MA) deals with non financial and a bit financial accounting. MA is very internal and it looks at the costs of production, how costs should be allocated, using labour hours, what costing method should we use, activity based costing or full cost costing. Financial accounting (FA) looks at financial information only. Like profit, sales, gross profit, and cost of sales. FA has accounting standards to follow like theÃ Accounting Standards (IAS). Whilst the MA can be presented in any form. FA is usually to communicate to the External Stakeholders (Govt, Owners, Customer, Banks etc.. ) and MA is usually for Internal Stakeholders (Employees, Managers, CEOs) Financial Accounts| Management Accounts| Financial accounts describe the performance of a business over a specific period and the state of affairs at the end of that period. The specific period is often referred to as the Trading Period and is usually one year long. The period-end date as the Balance Sheet Date| Management accounts are used to help management record, plan and control the activities of a business and to assist in the decision-making process. They can be prepared for any period (for example, many retailers prepare daily management information on sales, margins and stock levels). Companies that are incorporated under the Companies Act 1989 are required by law to prepare and publish financial accounts. The level of detail required in these accounts reflects the size of the business with smaller companies being required to prepare only brief accounts. | There is no legal requirement to prepare management accounts, although few (if any) well-run businesses can survive with out them. | The format of published financial accounts is determined by several different regulatory elements:Ã ·Ã Ã Company LawÃ ·Ã Ã Accounting StandardsÃ ·Ã Ã Stock Exchange| There is no pre-determined format for management accounts. They can be as detailed or brief as management wish. | Financial accounts concentrate on the business as a whole rather than analysing the component parts of the business. For example, sales are aggregated to provide a figure for total sales rather than publish a detailed analysis of sales by product, market etc. | Management accounts can focus on specific areas of a business activities. For example, they can provide insights into performance of:Ã ·Ã Ã ProductsÃ ·Ã Ã Separate business locations (e. g. hops)Ã ·Ã Ã Departments / divisions| Most financial accounting information is of a monetary nature| Management accounts usually include a wide variety of non-financial information. For example, management accounts often include analysis of:- Employees (number, costs, productivity etc. )- Sales volumes (units sold etc. )-Ã Customer transactions (e. g. number of calls received into a call centre)| By definition, financial accounts present a historic perspective on the financial performance of the business| Management accounts largely focus on analysing historical performance. However, they also usually include some forward-looking elements e. g. a sales budget; cash-flow forecast. | Financial Accounting| Managerial Accounting| * Reports to those outside the organization owners, lenders, tax authorities andÃ regulators. | * Reports to those inside the organization for planning, directing and motivating, controlling andÃ performance evaluation. | * Emphasis is on summaries of financial consequences of past activities. | * Emphasis is on decisions affecting the future. | * Objectivity and verifiability of data are emphasized. * Relevance of items relating to decision making is emphasized. | * Precision of information is required. | * Timeliness of information is required. | * Only summarized data for the entire organization is prepared. | * Detailed segment reports about departments, products, customers, and employees are prepared. | * Must followÃ Generally Accepted Accounting Principles (GAAP). | * Need not followÃ Generally Accepted Accounting Pr inciples (GAAP). | * Mandatory for external reports. | * Not mandatory. |
Monday, March 9, 2020
Canery Row essays From the movie Canery Row by John Steinbeck, we are introduced to a little town in California full of different characters, such as Doc and the Seer. In the beginning and throughout most of the movie, there is very little reference that these two characters have anything in common. However, at the end of the movie, we have a different grasp on the two characters and their relationship to each other. Throughout the whole movie Doc is portrayed as a man who is always helping people, no matter who they are or what they have gotten themselves into. He is trying to further his career as a marine biologist by running experiments all of the time. He usually stays out of other peoples business, however, the rest of the people in the town are always prying into his personal life. During the movie, we can tell that there is not something right with Doc; he always seems to have something really bothering him, this is where Seer becomes a factor in the movie. The Seer is an old man who lives on the beach and does nothing all day. He is taken care of by Doc but does not know it. He thinks he gets food from the people above and is very grateful for it. Doc sometimes goes to visit with the Seer for a friendly conversation. When a girl finally pries into the past of Doc the two characters become linked. The Doc and the Seer used to play professional baseball and the Doc had been, at one time, a great pitcher. Then during one game, he threw a wild pitch and hit the Seer right in the head and it nearly killed him. Now the Seer lives in Canery Row where Doc takes care of him. In a way we could say that these two characters have been disenfranchised, meaning the act of withdrawing certification. When the Seer got hit in the head by the baseball, he lost everything; you could say he had his life taken away from him. When that baseball hit the Seers head, the Doc lost his fu ...
Friday, February 21, 2020
H306 Mens Health Interview - Essay Example Unlike in the past when I would run my garage efficiently, I currently had to leave some of my responsibilities to my juniors a feature that has drastically reduced my earnings. Patient: Prior to the discovery of the condition, I had a health cover with a local insurance company in the city. However, the insurance catered only for the time I remained admitted in hospital. Once I was discharged, I had to pay for my subsequent visits to the hospital besides the fact that I have to buy the drugs that I use in managing the condition. The costs of drugs and regular visits to the hospitals have been unbearable for my family. As I had said, I had to relinquish some of the duties I would engage in in the past at my garage. This reduced my earnings owing to the fact that the garage is a small business. Additionally, the fact that I had to keep company at all times further complicated my lifestyle since I have to engage one of my sons. The news of my condition scared the stability of my family. On the day I collapsed, it took long for the people around me to settle on the most appropriate cause of action. I therefore nearly died at the scene. When my family eventually came to see me at the hospital, my condition broke their hearts. However, they have stayed supportive always understanding my situation and sparing money whenever possible. They have reduced their demand thereby making it easier for me to cope with my condition. Despite their support and understanding attitude, I still notice the pain n their eyes and the strain they undergo having to readjust their budgets in order to sustain me. Interviewer: Sorry for the pain sir, your condition is a result of lifestyle complications. What was your lifestyle prior to the diseases and how has this changed once you realized you have the disease? Patient: My doctors told me so too and I have in deed restructured my life in order to lengthen my life and manage the condition. I loved sugary foodstuff