Essay on Reforming Credit Laws - 1435 Words

Credit allows consumers to finance transactions without having to pay the full cost of the merchandise at the time of the purchase. A common form of consumer credit is a credit card account issued by a financial institution. Merchants may also provide financing for products which they sell. Banks may directly finance purchases through loans and mortgages. Consumers imperatively rely on credit, so it is necessary that credit laws help protect the consumer. I will discuss some of the major credit laws that impact the consumer, examine whether these laws are working, and talk about possible changes that might be needed to make sure the consumer is rightly protected. The law of consumer credit is primarily embodied in federal and state†¦show more content†¦(â€Å"About the Federal Trade Commission†) The FTC’s work is performed by the Bureaus of Consumer Protection, Competition and Economics. The body of the Bureau of Consumer Protection was created to protect consumers against unfair, deceptive or fraudulent practices in which it enforces a variety of consumer protection laws enacted by Congress. It protects consumers obtaining credit to finance their transactions, ensures that adequate credit is provided, and governs the credit industry in general. Congress passed the Consumer Credit Protection Act, in part, to regulate the consumer credit industry, requiring creditors to disclose credit terms to consumers. The Consumer Credit Protection Act also protects consumers from loan sharks, restricts the garnishing of wages, and established the National Commission on Consumer Finance to investigate the consumer finance industry. Credit card companies, credit reporting agencies, and certain debt collectors are regulated by the Act. The Act also prohibits discrimination based on s ex or marital status in extending of credit. Even with these acts there to protect consumers from obtaining bad credit, there still are complaints about lenders that are non-compliant in their credit agreements. In 1974, the Consumer Credit Protection Act stated that borrowers couldShow MoreRelatedReducing The Value Of Excise Expenditure1481 Words   |  6 Pagesfederal spending.1 Tax expenditures are defined under the Congressional Budget and Impoundment Control Act of 1974 as revenue losses attributable to Federal tax laws which allow a special exclusion exception, or deduction or which provide a special credit, a preferential rate of tax, or a deferral of tax liability.†2 Exclusions, deductions, credits and other tax preferences are â€Å"expenditures† from government’s perspective. See Figure 1: Examples of Six Types of Tax Expenditures. 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Therefore, a person will need to build a credit history before a lending institution allows them to borrow funds. With that, a person who manages his credit well would not have been included in the subprime lending scandal because they would not be considered a risk. However, those individuals that had su b-standard credit scores of 570 and lessRead MoreDodd Frank Reform And Consumer Protection Act1709 Words   |  7 PagesDodd-Frank The full name of the bill is the Dodd-Frank Wall Street Reform and Consumer Protection Act, but it is mostly known as Dodd-Frank. The Dodd-Frank Act is a United States federal law, which is divided into sixteen titles that places major regulations on the financial industry with the purpose of restraining another major financial market collapse. The stated aim of the legislation is: â€Å"To promote the financial stability of the United States by improving accountability and transparency in

Ruthless Or Progressive Animal Testing - 1396 Words

Veronica Peiffer Ms. Sharon Graham ENG 102 VF 08 October 2015 Ruthless or Progressive Animal Testing Curious minds since the beginning of time have used animals to explore deeper into the realms of science, whether behavioral or biomedical. Despite many medical advances since, people have developed a division between what they feel is beneficial or not to the modernizing world as to whether animal cruelty is acceptable and humane or not. Animal testing is research science, typically regarding chemical exposures, drug overdoses, genetic manipulation, and surgical procedures that result in prolonged suffering and eventual death. According to Bernard E. Rollin’s journal entry from the Hastings Center Report, The Moral Status of Invasive Animal Research, â€Å"Science is ‘value free’ in general and ‘ethics free’ in particular† which indicates scientists are not concerned with the ethical matters but more so the results. Throughout the world, there are over 115 million animals tested in laboratories per year, ranging from farm animals to non-human primates (such as chimpanzees, monkeys, etc.) Many people are aware that animal testing exists, but not to the extent of what it is, such as how an eyeliner from L’Oreal has been tested on an animal. However, it’s not the finished product that is tested on an animal but rather so the breakdown of the chemical composition within the product. There are ongoing experiments to this day where hazardous chemicals are rubbed into the shavedShow MoreRelatedScience and Technology13908 Words   |  56 Pages Equals Humans Tatsuhiko Hasemi Youth Category â€Æ'The Power of Science Illuminating the World Heidi Baumgartner â€Æ'Proposal: Innovating Solar Power Systems to Improve Lives Lilian Kanaya â€Æ'Scientific Development and the Coexistence of Animals and Humans Hikari Kunitomo â€Æ'Encouraging the Access to Sciences to Construct a Better World Kim Pawliw â€Æ'The Role of Science in Building a Better World: Shifting the Paradigms!! Ruby Karmacharya List of Other Prize Winners ãÆ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' »Ã£Æ' » Read MoreCorrectional Administration Reviewer18383 Words   |  74 Pageseighteenth century. †¢ Inmates were poorly clothed, without privacy and the conditions so deplorable that disease thrive, especially the deadly typhus fever or goal fever. †¢ It spawn idleness, vice, perversion, profligacy, shameless exploitation and ruthless cruelty among its inmates as well as its caretakers thereby making them hotbeds of infection and cesspool of corruptions. †¢ New Gate Gaol of London – the famous Gaol in Europe. o HULK – an old sailing ship that is n o longer used for sea voyagesRead MoreSustainable Solutions Paper wk 7 draft16370 Words   |  66 Pageslike the IPod and IPad are evidence that Apple is generating a rivalry on a different stage. Overall, the competitive rivalry within this industry is very high. Were Apple to find a way to translate the popularity of its I-product line into a progressive and sought-after desktop PC or laptop line, it would likely heat the rivalry that much more and quite possibly push Dell and other PC market share leaders to more aggressively pursue innovation. Implications of Five Forces An examination of theRead MoreDeveloping Management Skills404131 Words   |  1617 Pagesas the Strong-Campbell Vocational Inventory, the Minnesota Multiphasic Personality Inventory, the Myers-Briggs Type Indicator, the StanfordBinet Intelligence Test, and a host of other instruments are available in most college counseling centers or testing centers. Be careful, however, of the multiple assessment instruments you can find on numerous Web sites. Most are not reliable or valid. On the other hand, no one, it should be emphasized, can get too much self-knowledge. EMOTIONAL INTELLIGENCE

Dell Summary Free Essays

DELL INC STRATEGIC POSITION, CHOICE AND FINANCIAL ANALYSIS Table 1: PESTEL | | |Meaning to dell? |Dell’s ability to | | | | |address. | |Political Factors |China’s five-year plan has a clear set of social objectives. 23) |Good chance for Dell to grow |Very good. We will write a custom essay sample on Dell Summary or any similar topic only for you Order Now | | |Increased government spending helped China for the first time to beat the US to become the |in BRICS nation. | | | |world’s biggest PC market. (24) | | | | |Restrictive policies in many countries for the protection of domestic companies. 25) | | | | |BRICS sign framework pact for local-currency credit lines. (26) | | | | |European Commission Unveils New intellectual property rights (IPR) Strategy (27) | | | |Economic |The US Debt Crisis and Downgraded Credit Rating. 28) |Global consumers spending |Moderate | |Factors |Global Economy growth forecast 4 % in 2011 and 2012. (Advanced economies 1. 6% and 1. 9 % |less Increased competition. | | | |Emerging and developing economies 6. 4% 6. 1% ,US 1. 5 % 1. 8%,China9. 5 9. 0 ) (29) | | | | |Canalys predicts 14% growth in PC market for 2011. 30) | | | | |China has topped the US as the largest PC market worldwide (31) | | | | |Economies in developing countries like growing at faster rates than developed countries. (32)| | | |S ocial | Education affects brand consciousness, product demand. 42) |Consumers willing to pay more|Very good. | |Factors |Income levels (40) |for higher quality. | | | |Cultural aspects affect sales. (39) | | | |Technological Factors | Fast technological advances (33) |Needs continuous products |Good. | |Increased research and development. (33) |innovation and redesigning. | | | |Short product life cycle. (41) | | | |Environmental | Adds to Global warming. (34) |Requires focus for |Moderate. | |Factors |High Environmental effects. 35) |sustainability. | | | |The global volume of e-waste generated is expected to reach 93. 5 million tons in 2016 from | | | | |41. 5 million tons in 2011 at a CAGR of 17. 6% from 2011 to 2016. (36) | | | |Legal Factors | Minimum wages restrictions in many countries. Effects to its profit margin. |Good. | | |Strict recycling laws in some countries. (37) | | | | |Existence of consumer rights and labour rights. (38) | | | | |Competition laws, employment laws, health and safety legislation. 38) | | | Table 2: Porter’s 5 Forces | |Forces |Factors |Strength | |1 |Threat of New Entrants | |Low | | | |In PC industry, not many competitors emerging on a yearly basis. 17] | | | | |Chance of a new PC vendor entering the market and gaining significant market share is pretty| | | | |slim. [18] | | | | |Entry barriers are higher now than they ever have been. [18] | | | | |Capital required is huge. 18] | | | | |Cost and distribution are two of the entry barriers that are making entry into the PC market| | | | |tough. [18] | | | | |Computer industry is highly competitive with continuing developments. 17] | | | | |People likely to go with big brands they ‘know’. [17] | | |2 |Power of Suppliers |Suppliers such as INTEL and Microsoft holds significant amount of power. [17] |High | | | |Intel’s microprocessor chips are used in approximately 80% of personal computers. [18] | | | | |Microsoft operating systems are used in 90% of computers. 18] | | |3 |Power of Buyers |PC has become a commodity. [19] |Moderate | | | |There is no brand loyalty among PC users. [19] | | | | |Use of industry standard hardware and software means a user can easily switch from one brand| | | | |to another. 19] | | |4 |Threat of Substitute | Organizers, PDAs, blackberries and Tablets are the substitutes of PC industry. [20, 21] | | | | |PC market growth has been impacted by media tablets and next-generation smartphones. [21] |High | | | |It is anticipated that tablets will Cannibalize 10 % of PCs by 2014. [21] | | |5 |Existing Rivalry |1. 6Acer, Apple, Hewlett-Packard and Lenovo are the major competitors of Dell. [17] | | | | |1. 17 Attractive new gadgets such as Apple’s iPad making PC industry saturated. [22] |High | Table 3: Value Chain Analysis |Primary Activities: | | |Inbound logistics |Higher density container trailer shipment via sea, air road to reduce fuel consumption. 1] | | |Use of foam pallets instead of wood for shipping, which reduce cost of freight by reducing weight. [1] | | |Dell relies on its highly reliable suppliers for materials. [2] | |Operations: |Produce built to order computers according to individual costumers needs. [2] | | |Use the knowledge from direct contact with its customers. 2] | |Outbound Logistics: |Logistics teams leverage the best transportation and logistics providers available in the industry. [1] | | |Dell sends computers monitors directly from its supplier to customers reducing the cost of storage and time of transfer. [2] | | |Use of direct selling models reduce coast to customers. 2] | |Marketing and sales:|Expanding relationships with retail partners around the world [1] | | |Use of direct selling model thereby reducing cost of distribution channels and communication gaps between customers and company. | | |[2] | | |Direct selling models helps to understand unmet customer needs. 2] | | |24000 retail outlets worldwide, including contracts with Walmart Brazil and Maxico , and Gome Group, the largest electronic | | |seller in Chaina. [16] | |Services: |Dell spent lot of money in training segment managers to provide state of the art customer advice. 2] | | |Customer solutions team collaborate with customers to fulfil there unmet needs. [2] | |Support Activities: | | |Procurement: |Material used is not protected under any trade mark or copy right. [2] | | |Any competitors can use the same materials from same suppliers as suppliers tend to sell generally to all players in industry. | |[2] | |Technology: |Introduce new and relevant technology much more quickly than competitors who use slow moving distribution channels. [2] | |Infrastructure: |Revolutionized computer industry’s traditional value chain by introducing direct selling model. [2] | | |Use ROIC as mean of managerial performance and individual business units performance. [2] | | |Inventory turnover is 6 days. 2] | |Human Resources: |Dell staff has to be knowl edgeable and customer focused to provide best outcome. [2] | | |Train its segment managers to provide state of the art customers’ service. [2] | Table 4: Generic Forces | | | | |Broad |COST LEADERSHIP DIFFERENTIATION | |Market | | | | |Supply chain efficiencies. [62] |Unique Customer services. [63] | | |Direct sales model allowed Dell to pursue Cost |Dell (PRODUCT)RED signature products contribute directly to Global Fund to help | | |Leadership Strategy. 62] |eliminate AIDS in Africa. [64] | | | |Robust market share by holding 12% of worldwide pc market. [65] | | | |Alienware M11x the first ultraportable gaming notebook. [66] | | | |Dell precision Mb6400 a high-performance mobile workstation. 67] | | | |Dell Streak 7 is the first 7† tablet that has dual-core processor that supports 4G. [69] | |Narrow |FOCUSED LOW COST |FOCUSED DIFFERENTIATION | |Market |Introduced low-cost notebooks for consumers and small |Dell first introduced Streak Android-based tablet computer fo r doctors and other | | |businesses in Asian markets. [66] |clinicians. 70] | Table 5: Ansoff Product Market Matrix: | |Existing products |New Products | |Existing |1. 1. $155 million acquisition of MessageOne Inc(industry leader in |1. 4 Announced new tablet latitude XT3 for business customers that allows | |Market |SaaS) enables enterprise level email business continuity, |grater mobility, security and manageability. 6] | | |compliance, archiving, disaster management. [4,5] |1. 5 Announced 24 new products including smart phone, tablets, netbooks, | | |1. 2. Introduced existing alienware and XPS laptops with HD 3D |desktops etc. [7] | | |screen. [9] | | | |1. Unveiled new series of printers, projector and monitors in | | | |2011. [12] | | |New Market |1. 6 Introduces 4 new low cost PC for emerging markets like China. |1. 10 Introduced new android based smart phones and windows phone. [8] | | |India etc in 2008. 11] |1. 11Introduced android based streak tablet designed for do ctors and | | |1. 7 Launched comprehensive rage of printers in India in 2011. [12] |clinicians. [10] | | |1. 8 Contracted with Gome Group, the largest electronic retailer in |1. 12 Introduced cloud computing that provide IaaS based on VMware. | | |china. 16] |[14,15] | | |1. 9 Only 5. 1% Indians and 9% Chinese have computers. 75% Americans| | | |have computers. [16] | | Table 6: Boston Construction Group Matrix |Relative Market Share (Cash Generation) | |Market Growth Rate |HIGH |HIGH |LOW | |(Cash Usage) | | | | | | |Stars: |Question Marks: | | | |Personal computers [43] |Dell tablet [45] | | | |cloud computing services[44] | | | |LOW |Cash Cows: |Dogs: | | | |Customised systems [46] |Printers [48] | | | |Ink cartridge [47] |5 inch Streak Smartphone [49] | Table 7: Dells Acquisitions. Success of Dell’s Acquisitions | |Ingredient acquisitions [72] | |Acquired KACE in 2010 increases 1200 business customers and tripled in value. [72] | |HP doubled the Dell’s bid for 3PAR INC. a storage network company. [73] | |Made 12 acquisitions in last year. [74] | |Virtually all acquisitions were successful [74] | |Acquired ‘equal logic’ 3 years ago and turned revenue of $100 m into $1 Billion post acquisition [75] | Table 8 : Suitability, Acceptability, Feasibility | | | | |GENERIC STRATEGIES |BCG MATRIX STRATEGIES | | | | | | | | | | |Cost Leadership|Differentiation |Focus / Low Cost |Focus / Differentiator |STARS |CASH COWS | |   |   |YE 30/1/09 |YE |YE 28/1/11|YE |YE |YE |YE 31/10/08 | | | | |29/1/10 | |31/12/08|31/12/09|31/12/10| | Table 10: Financial Ratios for DELL Inc (2006-10) |   |   |2006 |2007 |2008 |2009 |2010 |Industry Average|Ref | |   |Profitability Ratios |   |   |   |   |   |   |   | |2 |Net profit margin (%) |4. 5 |4. 82 |4. 05 |2. 71 |4. 28 |6. 7 |[51,52] | |3 |Return on total assets (%) |13. 05 |3. 89 |12. 54 |6. 01 |8. 68 |8. 14 |[50,52] | |4 |Return on capital employed (%) |43. 22 |42. 86 | 29. 35 |14. 87 |18. 57 |16. 42* |[50] | |5 |Return on equity (%) |58. 19 |76. 97 |58. 02 |25. 4 |33. 93 |13. 65 |[50,52] | |6 |Solvency ratio (%) |17. 32 |13. 89 |16. 12 |16. 76 |20. 12 |25. 9* |[50] | |   |Efficiency Ratios |   |   |   |   |   |   |   | |8 |Net asset turnover |7. 32 |6. 77 |5. 25 |3. 6 |3. 22 |1. 51 |[50,52] | |9 |Debtor days (days) |30 |36 |29 |41 |39 |45. 25* |[51] | |10 |Creditor days(days) |80 |86 |61 |97 |84 |52. 5* |[51] | |   |Liquidity Ratios |   |   |   |   |   |   |   | |12 |Quick ratio |1. 08 |1. 01 |1. 3 |1. 22 |1. 42 |1. 15 |[51,52] | |   |Stability Ratios |   |   |   |   |   |   |   | |14 |Interest cover |68. 22 |76. 44 |34. 3 |13. 57 |17. 25 |2. 5 |[50,52] | |15 |Debt/Equity(%) |12. 82 |9. 45 |44. 44 |60. 57 |66. 26 |21. 43 |[51,52] | |   |Investors Ratios |   |   |   |   |   |   |   | |17 |P/E ratio |23. 16 |15. 48 |7. 45 |17. 61 |9. 64 |14. 2 |[50,52] | |18 |Dividend yield |0 |0 |0 |0 |0 |2. 09 |[50,52] | [pic][76] 77] Figure 3: Financial Rations (Table 10) |REFERENCES | | |http://content. dell. com/ – Accessed 6 October 2011. |http://www. oppapers. com/essays (accessed: October 8, 2011) | |http://ivythesis. typepad. com/ Accessed 6 Oct 2011. |http://www. scribd. com/doc (accessed: October 9, 2011) | |http://www. businessweek. com/ – Accessed 27 September 2011. |http://2point8. blogspot. com/2006 (accessed: October 9, 2011) | |http://www. dell. com/us/ Accessed 17 Oct 2011. |http://knol. google. om/k (accessed: October 9, 2011) | |http://www. gartner. com/ Accesses 17 Oct 2011. |http://it. tmcnet. com/topics (accessed: October 9, 2011) | |http://techmento. com/2011/02/14/ Accessed 17 Oct 2011. |http://www. usatoday. com/tech (accessed: October 9, 2011) | |http://www. pcmag. com/ Accessed 17 Oct 2011. |IPPR, China in the global economy, July 2011 | |http://www. unwiredview. com/2011/09/30/ Accessed 17 Oct 2011. |Owen Fletcher, China Passes U. 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Financing Pattern And Utilization Of Assets -Myassignmenthelp.Com

Question: Discuss About The Financing Pattern And Utilization Of Assets? Answer: Introducation In the given assignment, the annual report of the company named JB Hi-Fi Limited needs to be accessed. The annual report chosen for the same pertains to the year 2017. The company is one of the pioneer companies in the field of management retail goods and deals in Australia and New Zealand. The company is also listed on Australian Stock exchanges and has 112 stores in operation. It is one of the fasting growing business in Australia and deals in electronic games, video games, CDs, DVDs, electronic and electrical home appliance. The total depreciation expense being recorded by the company in its profit and loss statement for the year ended 30th June, 2017 is $ 53.9 Mn vs $ 40.9 Mn in 2016(Das, 2017). The split of the depreciation expense can be seen in the screenshot below where out of $ 53.9 Mn, $35.6 Mn pertains to the Plant and equipment and the other $ 18.3 Mn pertains to leasehold improvement. The company recognises depreciation on the straight line basis and does the valuation of the assets as per the Australian GAAP and IFRS standards(Gooley, 2016). The company has also shown the detailed reconciliation of the balances of property, plant and equipment by the way of showing the balances at the beginning which is being arrived by deducting the accumulated depreciation from the Gross Block. Furthermore, the additions and disposals during the year, the impairment charge for the year, the effect of foreign exchange reserves, etc has also been shown in the reconciliation statement of the PPE. The depreciati on expenses has been arrived based on the management judgement and estimation of the useful lives of assets to be 1-15 years for Leasehold improvements and 1.5 15 years for Plant and equipment(Alexander, 2016). The depreciation method and the estimated useful lives of the assets is being assessed annually towards the end of the financial year and in case any changes are found, the effect of the same is reported on a prospective basis. Besides depreciation, the plant and equipment is also being assessed for impairment, if any, in acse the internal or external factors of impairment do exist. The impairment loss is tehn recognised in the profit and loss account as the difference between the carrying value of the asset and the recoverable value of the asset. The revoverable value is the higher of value in use or the fair value less cost of disposal. Gain or loss on the retirement of the assets is also recognised in the profit and loss accounting. It is generally the difference between the carrying value of the asset and the sale proceeds(Dichev, 2017). With regards to the accounting standards being followed here, the company has followed AASB 2014 4, which deals with the clarification on the acceptable methods of depreciation and amortisation. References Alexander, F. (2016). The Changing Face of Accountability. The Journal of Higher Education, 71(4), 411-431. Das, P. (2017). Financing Pattern and Utilization of Fixed Assets - A Study. Asian Journal of Social Science Studies, 2(2), 10-17. Dichev, I. (2017). On the conceptual foundations of financial reporting. Accounting and Business Research, 47(6), 617-632. Gooley, J. (2016). Principles of Australian Contract Law. Australia: Lexis Nexis.