Pay to Play When Is It Time to Use Paid Promotion

Ideally, extraordinary substance alone would be sufficient for you to arrive at your substance promoting objectives. Crisp, connecting with substance would catch everyone's eye and get all the consideration it merits. Shockingly, genuine substance showcasing doesn’t consistently work that way. The online scene is immersed with quickly expanding measures of important substance and there’s just so much data that individuals can devour. Free Actionable Bonus: Free Actionable Bonus: Want to make better substance for internet based life? Get the total manual for building a web based life system and making content for social, in addition to 6 magnificent guides to move your next post. You can take the gradual course to naturally develop your crowd with extraordinary substance. Be that as it may, with gracefully regularly outpacing request, even top notch substance can become lost despite a general sense of vigilance. Things being what they are, how would you get a serious edge when there is so much substance being delivered? Paid advancement may be one answer. Understanding Paid Promotion Before plunging too profoundly into the stray pieces of paid substance advancement, it’s essential to make the qualification among paid and natural advancement. There are numerous natural channels for content advancement that can help support your perceivability: Search engine optimization procedures Online networking Influencer advertising Online courses and other live occasions Informal exchange While these natural advancement strategies don’t include going through any cash, they do require a decent measure of imagination, exertion and constancy. Tweaking for your intended interest group can likewise be progressively troublesome with natural advancement systems. That’s why paid substance advancement can fill in as a significant supplement to your current natural advancement methodology. The idea of paid advancement isn’t new. Truth be told, a SocialBakers concentrate from 2013 demonstrated that and, after its all said and done, 77% of Facebook pages were depending on paid traffic for advancement. Facebook: This channel remains the top decision among advertisers for paid advancement on account of the incredible focusing on abilities and expansive reach. LinkedIn: This systems administration stage offers some extraordinary paid-advancement alternatives for advertisers, particularly in the B2B domain. LinkedIn has demonstrated to produce a bigger number of leads for B2B organizations than Twitter, Facebook or sites. Pinterest: If your business creates some incredible visuals, Promoted Pins can be a viable method to get you seen by a more extensive crowd. Twitter: You probably won't have thought of Twitter as a paid-advancement channel, yet the stage presents some significant chances. Examination shows that 74% of buyers follow brands on Twitter to get refreshes and advanced tweets guarantee that your substance is contacting the top crowd. Outbrain: The Outbrain stage permits you to advance your substance as â€Å"recommended articles† on different sites. Comparable substance revelation systems incorporate Taboola and LinkWithin. Web search tool promoting: Search advertisements take into account laser-centered focusing on and offer alternatives for all intents and purposes any financial plan. Not exclusively does paid advancement require minimal manual exertion in contrast with natural strategies, yet it additionally permits you to introduce your substance to an exceptionally focused on crowd. Is It Worth It? Indeed, even advertisers who are eager about the advantages of paid advancement may make them wait worries about the expense. How might you ensure you’re amplifying ROI and not squandering cash? The most ideal approach to guarantee that you’re crushing the most incentive out of your paid advancements is to do your exploration before you hop in. Examine the presentation of your natural substance advancement and utilize the information to distinguish content that would make the best possibility for paid advancement. With regards to ROI, having clear objectives is vital. Recognize and track the KPIs related with your objectives to check whether you’re getting the required value for your paid-advancement money. On the off chance that you’ve been battling to support your perceivability with your intended interest group, paid substance advancement might be an approach to give you a lift. It can assist you with slicing through the commotion and really contact the individuals you have to transform into clients. Not all paid advancement stages are expensive, and the ROI they can create can make the cost advantageous.

The Evolution of Communication Technology and Personal Impact Coursework

The Evolution of Communication Technology and Personal Impact - Coursework Example Indeed, even the style of learning was crude. A considerable lot of the normal sciences were still in their first phases of advancement and the main way that data could be shared was through books. The one downside was language and the capacity to mass-produce. Proficiency was a benefit among numerous societies, so while everybody could communicate in their separate language, not many could compose and understand it. These books were likewise very significant as relatively few duplicates were accessible during these periods. At commonly, just a couple of duplicates would have existed on the planet. In that capacity, learning and correspondence thwarted human development mentally (Greff, 1987). The main genuine utilization of electronic correspondence began with the coming of Morse code. Samuel F. B. Morse made Morse code in the start of the 1840s. Correspondence and data was transmitted through a progression of tones as either dabs or runs. A decoder could then be utilized to deciph er these messages (Noth, 1990). This was an incredibly helpful and significant mechanical improvement in the time of correspondences. The greatest reason for existing was not that of instruction nonetheless, Morse code was instrumental in permitting correspondence of data and key arranging during World War I and World War II (Mullener, 2002). This unique improvement of correspondence innovation would later come to fill in as the correspondence of thoughts, which is key in scholasticism today. The following greatest jump in innovation was the advancement of the primary PCs, which began in the mid twentieth century. As of now, the antiquated PCs were not even close to the PCs we use today. It was extremely regular for a PC to take up many, numerous rooms in a solitary structure and still just be... The Evolution of Communication Technology and Personal Impact As science and examination created during the numerous modern and innovative unrests on the planet, more and better advances have been made. Everyone on the planet is associated by a solitary innovation alone: interchanges innovation (Elahi, 2001). This incorporates mobile phones, PCs, Internet, and so on and they have all changed the manner by which we lead our lives. One of the most significant advancements that these innovations have impacted is the manner by which we learn and acclimatize data. Conventional learning in the study hall has been improved with PCs and the Internet permits understudies to bring the world inside the study hall (Wingard, 2004). Personally, I have seen the advantages of this having had the option to take classes while having the option to at present seek after a functioning vocation. The ways that the Internet and innovation has created has made it simpler to learn just as improved numerous parts of figuring out how to become multidiscipline. Portable innovations have additionally altered the instructive framework by permitting more prominent chances and more noteworthy introduction to new types of realizing, which can be useful to conventional understudies, yet in addition those coming back to class to gain their degree (Manner, 2003).  The first techniques for correspondence were inferred through composition. Innovation has been existent previously, present, and will be later on. It shapes world occasions and the course of human turn of events.

Robots in industry Essay Example for Free

Robots in industry Essay Robots are required in industry. They carry numerous advantages to laborers just as organization proprietors by dealing with troublesome and risky employments and by being practical. They comprise another apparatus in assembling locales that contain, for instance, propelled mechanical production systems. The idea of a robot returns the extent that the Egyptians time. Early thoughts regarding the utilization of robots introduced issues as far as their capacities to society and the manner by which they influenced the chances of talented laborers. Be that as it may, robots figured out how to remain in industry for good. By and by, single reason frameworks, such as welding or palletizing robots, are ruling the market. Toward the start of 1998, examiners assessed the apply autonomy industry at $8 billion around the world. Further advancements in the mechanical technology field will be driven by the improvement in related enterprises, for example, the business of sensors and the business of chips. Future clients will most likely request robots with increasingly independent capacities. This thought is driving robot-producing organizations to think about new formative territories in the field of mechanical autonomy. By and large, the areas beneath will essentially investigate, all together, the idea of a robot this task is worried about, the historical backdrop of robots in industry, an increasingly definite examination on the robots advertise and the countries that utilization them, the present status of the business, and conceivable future patterns. The word robot was authored by Karel Capek who composed a play entitled R. U. R. or then again Rossums Universal Robots in 1921. The base for this word originates from the Czech word robotnik which implies laborer. In his play, machines displayed after people had extraordinary force however without normal human failings. At long last these machines were utilized for war and in the end betrayed their human makers. However, even before that the Greeks made portable sculptures that were the beginnings of what we would call robots. Generally, the word Robot today implies any man-made machine that can perform work or different activities ordinarily performed by people. Most robots today are utilized in processing plants to fabricate items, for example, vehicles and hardware. Others are utilized to investigate submerged and even on different planets. With these three parts, robots can cooperate and influence their condition to get valuable. Since robots are utilized fundamentally in assembling, we see their effect in the items we utilize each day. Normally this outcomes in a less expensive item. Robots are additionally utilized in situations where it can make a superior showing than a human, for example, medical procedure where high accuracy is an advantage. Furthermore, robots are utilized in investigation in risky places, for example, in volcanoes, which permits us to learn without jeopardizing ourselves. Favorable position of robots With the progressions of apply autonomy, individuals would be able to make a mechanical rendition of themselves by transferring their still, small voice (mind) to an automated body. By done living in a carbon-based body, fixes and upkeep could be handily improved, prompting close to interminability. Additionally, with savvy robots at our order, people could let robots thoroughly take care of them, giving individuals opportunity from ordinary or risky assignments, and making more relaxation time. Robots can do things we people just dont need to do, and as a rule do it less expensive. Robots can do things more exact than people and permit progress in clinical science and other valuable advances. Impediments of robots As with any machine, robots can break and even reason debacle. They are incredible machines that we permit to control certain things. When something turns out badly, horrendous things can occur. Fortunately, this is uncommon in light of the fact that automated frameworks are structured with numerous security includes that limit the mischief they can do. Theres additionally the issue of insidiousness individuals utilizing robots for abhorrent purposes. This is genuine today with different types of innovation, for example, weapons and organic material. Obviously, robots could be utilized in future wars. This could be fortunate or unfortunate. In the event that people play out their forceful demonstrations by sending machines out to battle different machines, that would be superior to sending people out to battle different people. Groups of robots could be utilized to shield a nation against assaults while constraining human setbacks. In any case, human instinct is the imperfect segment that is digging in for the long haul. Employment Displacement Some individuals are worried that robots will lessen the quantity of occupations and show individuals out of their employments. This is never the situation. The net effect of cutting edge innovation, for example, robots (or vehicles, electric drills and different machines) is that people become progressively gainful. Inconveniences of proceeding with headways on Robotics Continuing progressions on Robotics and Artificial Intelligence, extremely one in the equivalent, presents numerous potential perils. Because of the benefits of silicon-based over carbon-based living things, they could supplant or oppress us, because of predominant quality, speed, and absence of ethics innate with AI among numerous different things. For one, they would have the option to self-reproduce, which would make them almost difficult to stop. With their implicit insight, they could make endless supply of themselves in a short measure of time. Since they would have the option to figure, Robots would be massively more risky than atomic weapons. Because of their as far as anyone knows impartial thinking and rationale, robots could without much of a stretch be put in places of intensity, in this way disturbing the political scene around the world. On the off chance that robots could think to get things done for themselves, at that point they would take over gifted and incompetent work occupations, leaving millions jobless. Robots represent a genuine dilemma in their order. The Future Of Robotics The number of inhabitants in robots is developing quickly. This development is lead by Japan that has twice the same number of robots as the USA. All evaluations propose that robots will assume an ever-expanding job in current society. They will keep on being utilized in errands were peril, redundancy, cost, and exactness keeps people from performing. A few Definitions Of The Word Robot And Other Relevant Words: Robot Or machine, mechanical gadget intended to play out the work commonly done by a person. The Czech playwright Karel Capek advanced the articulation [from Czech, = obligatory labor] in his play R. U. R. (Rossums Universal Robots), created in Prague in 1921. Current mechanical autonomy has created multitudinous gadgets that supplant human staff and the term robot is utilized to assign quite a bit of this apparatus. It is utilized every now and again in fiction, alluding to a self-controlling machine molded like a person. Robot A mechanical gadget for playing out an undertaking which may some way or another be finished by a human, e. g. showering paint on vehicles. Apply autonomy Science and innovation of universally useful, programmable machine frameworks. In opposition to the well known fiction picture of robots as walking machines of human appearance fit for performing practically any undertaking, most mechanical frameworks are tied down to fixed situations in production lines where they play out an adaptable, yet limited, number of activities in PC helped fabricating. Such a framework insignificantly contains a PC to control tasks and effecters, gadgets that play out the ideal work. Furthermore, it may have sensors and helper hardware or devices under its influence. A few robots are generally straightforward mechanical machines that play out a devoted undertaking, for example, welding or splash painting. Other progressively mind boggling, perform multiple tasks frameworks utilize tactile frameworks to assemble data expected to control its work. A robots sensors may give material input, so it can get items and spot them appropriately, without harming them. Another robot tangible framework may incorporate a type of machine vision that can distinguish blemishes in produced products. A few robots used to gather electronic circuit sheets can put odd-sized parts in the correct area after outwardly finding situating blemishes on the board. The least difficult type of versatile robots, used to convey mail in places of business or to assemble and convey parts in assembling, follow the way of a covered link or a painted line, halting at whatever point their sensors recognize an item or individual in their way. Progressively mind boggling versatile robots are utilized in increasingly unstructured conditions, for example, mining. Man-made consciousness The subfield of software engineering worried about the ideas and techniques for emblematic deduction by PC and representative information portrayal for use in making inductions. Man-made intelligence can be viewed as an endeavor to demonstrate parts of human idea on PCs. It is additionally once in a while characterized as attempting to take care of by PC any issue that a human can fathom quicker. Instances of AI issues are PC vision (constructing a framework that can comprehend pictures just as a human) and regular language preparing (building a framework that can comprehend and communicate in a human language just as a human). These may have all the earmarks of being measured, however all endeavors up until now (1993) to fathom them have foundered on the measure of setting data and knowledge they appear to require. My Thoughts I imagine that robots are acceptable and better the working environment to make occupations simpler and faster. Additionally they can perform risky assignment, for example, employments with synthetic substances. It is better for the representative since they are modest and can work 24 hrs, yet the laborers are out of a vocation. Innovation is changing constantly and robots are turning out to be increasingly ground-breaking. We as a whole rely upon robots without a doubt and this reliance will develop. Be that as it may, robots can separate or get an infection. Be that as it may, over all I figure robots will turn out to be better and better.

Effects of School Feeding Programme on Education

Impacts of School Feeding Program on Education The administration of Ghana has perceived essential training as a key structure square of the economy. This progression is in accordance with objective two of the Millennium Development Goals (MDGs) which tries to accomplishing an all inclusive essential instruction continuously 2015 (Ghana MDG Report, 2009). Likewise, in harmoniousness with GPRS II (GPRS, 2006), Article 38 of the 1992 constitution orders government to give access to Free Compulsory Universal Basic Education (fCUBE) to all offspring of school going age (Constitution of Ghana, 1992). In compatibility of this necessity, various plans and projects have been propelled with the administration setting out upon a few instructive changes and founding new strategy measures toward making training progressively open to all. These incorporate the fCUBE program, instruction key arrangement, the capitation award; which makes essential school liberated from any type of school expenses and the NEPAD School Feeding Program (SFP) (ESP , 2003). Note that entrance to instruction isn't an end in itself, yet an unfortunate chore. The final products of the instruction procedure is that it ought to convert into quality human capital/asset for the state as the GPRSII imagines, henceforth, the enthusiasm of governments to put resources into the training of their kin. The capitation award for the most part should bring about higher enrolment and maintenance in schools. The school taking care of program supplements this by accommodating the understudies wholesome needs and improving their learning abilities. All these ought to convert into better by students and so far as that is concerned, the creation of value human asset required for state advancement. It ought to be noticed that, before the presentation of the administrations school taking care of program, the Catholic Relief Service (CRS,) had just organized the approach of taking care of younger students in the area. This aside, the foundation of the Northern Scholarship Scheme had likewise been set up in the area since the late 1950s, dealing with the taking care of cost of understudies in Senior High Schools in the region. These had huge effect on instruction of the region. Indeed, numerous educators and instructed elites in the area owe their present status to these plans (Nadowli District, 2008) THE PROBLEM STATEMENT The presentation of the administration school taking care of program was to enhance different intercessions, for example, free school uniform and capitation awards. It has since assumed a pivotal job nearby different intercessions in improving both Gross Enrolment Ratio (GER) and Net Enrolment Ratio (NER) in schools in Ghana. The Upper West Region by and large, recorded GER increment of 74.1% from 1991/199 2002/2003, 77.3% from 2002/2003 2004/2005 and 81.1% 2004/2005/2006 (RSER-UWR, 2006). In spite of the increments in the enrolment figures, denied regions in Ghana keep on experiencing genuine challenges in pulling in prepared educators; homeroom convenience keeps on being an issue with access to instructing and learning materials staying a cerebral pain to partners. These adversely influence the nature of instruction in these zones including the Nadowli District. The ascent in enrolment figures with no relating increment in the quantity of instructors as a rule lead to unbalanced Pupils-Teacher Ratio (PTR). Congestion in homerooms likewise gets incredible of such circumstances with expanded enrolment with little consideration regarding the development study halls because of the expanding numbers which doesn't just some of the time lead to the episode of infections yet in addition influences nature of instructing unfavorably. The examination accordingly looks to research how the expanding enrolment figures influence the nature of essential instruction in the Nadowli District. RESEARCH QUESTIONS Fundamental Question How has the school taking care of program influenced grade school training in the Nadowli District? Sub-questions How has the SFP affected elementary school enrolment in the region? How has the SFP affected student maintenance in schools in the region? What are the ramifications of the SFP on PTR? How has SFP influenced homerooms movement and TLM? Are there exercises for strategy details? Fundamental target To inspect the impacts of the school taking care of program on grade school training in Nadowli District Sub-targets To decide how the SFP has affected grade school enrolment in the locale To evaluate the impact of SFP on students maintenance in school To inspect the ramifications of the SFP on PTR To inspect the impacts of SFP on study halls action and TLMs To draw exercises from the examination for approach definition RESEARCH METHODOLOGY Information assortment instruments Both likelihood and non likelihood information assortment instruments will be utilized in the assortment of essential information in the investigation. In particular, I will utilize studies, semi-organized meetings and perceptions. The reviews will be utilized to request general data from the respondents on their perspectives on the point, for example, on the impacts of the SFP on the pace of enrolment. The overviews will likewise yield quantitative information. The meetings will be utilized to create subjective, explicit and top to bottom realities about the investigation. The perception will be utilized increase direct data on the investigation. Wellsprings of information The investigation will gather information from instructors, guardians, understudies, cooks of the program, and staff from the locale directorate of training and providers of food these schools. Auxiliary wellsprings of information, for example, papers, article and web sources will be utilized. Records of enrolment previously and during the SFP will likewise be utilized for examinations. Inspecting methods and examining units I will utilize purposive inspecting to gather information from authorities of the region training directorate (the area executive, the official responsible for insights, the arranging official, chief of human asset and a circuit manager), cooks, head educators, school regents, PTA chairpersons, and providers of food to the schools. Inspecting size An example size of 38 will be studied. This will be made of: 8 head instructors, 8 school administrators, 8 PTA chairpersons, 8 cooks, 5 authorities of the locale training directorate and 1 provider of food to the schools in the area. Information examination and introduction Subjective information gathered will be summed up into topics, examined and deciphered by the utilization of engaging procedures. Quantitative information examination will be finished utilizing PC programs like the SPSS. Tables, outlines and diagrams would be utilized to represent and introduce discoveries for simpler comprehension and translation. Importance OF THE STUDY Through discoveries of the investigation, partners will be all around educated regarding the significance or in any case of the SFP on essential training in the area. Positive result will get them focused on progress and sustainace of the program. Likewise, negative impacts of the program whenever found will likewise be tended to. Aside filling in as base information for additional exploration chip away at the point, discoveries of the examination will help in strategy plan on the program. Association OF THE RESEARCH REPORT The examination report will be sorted out into six sections as follows for clear introduction. The general presentation of the investigation just as the difficult proclamation and the exploration addresses will go into part one. This section will likewise contain the examination targets, support of the investigation and a concise profile of the investigation zone. Part two is the audit of writing on the subject. It will take a stab at conceptualizing and characterizing issues that identify with the investigation and put them in context. It will attempt to investigate and fill holes in existing writing accessible on the examination. Section three will analyze the approach utilized in the investigation for the assortment of information. How information gathered is investigated and introduced will likewise be clarified in this section. Discoveries of the examination and the conversations on it will be introduced in section four of the report. This will likewise deal with optional information investigation on the examination. Representations with tables, figures outlines and charts will be made for simpler comprehension and understanding of discoveries. Outlines of discoveries, end and proposals will be introduced in the fifth and last part of the report. Writing REVIEW The writing survey targets investigating for zones of understandings and contradictions on the point. From this, leaving holes will be distinguished and endeavors made to fill them. The survey will cover territories like: effect of instruction related intercessions in Ghana, the historical backdrop of school taking care of in Ghana, Ghana training strategy system, ongoing training related mediations in Ghana and the SFP (contentions and against). See an example audit beneath. Effect of instruction related intercessions in Ghana Nations in Sub-Saharan Africa have been investigating methods of improving their instruction frameworks so as to accomplish their promise to training for all. Guaranteeing that kids approach free, mandatory and great quality essential training is getting significant consideration from governments and help organizations the same as is given a thought in the (GPRS II, 2006). Two principle frameworks through which certain legislatures are utilizing to accomplish this point are the annulment of school expenses and the School Feeding Program. Studies have demonstrated that these intercessions are having huge effect in the territory of training in the nation (ISSER, 2009). The historical backdrop of school taking care of in Ghana The issue of school taking care of goes back to the 1950s when the CPP government founded the Northern Scholarship Scheme to provide food for the taking care of cost of understudies in the northern piece of the nation. The Catholic Relief Services additionally presented a taking care of plan in fundamental schools in the north. The two plans were intended to propel understudies to get instructed. The latest of these plans is the SFP which is being directed in all regions in the nation. Instruction Policy F

Peer Pressure and Life Span Reduction An Unusual Perspective on the old Problem

Obliteration of War - Research Paper Example The sonnet â€Å"refugee ship† is progressively express around one being an alien to her own ethnicity. A mother who didn't care for the possibility of her little girl being a captive to the Spanish culture and as such attempted to keep the little girl in the murkiness about her ethnicity raised the young lady. The mother didn't show the young lady the way of life neither did she show her the language. The grandma of the young lady attempts to do what the mother didn't do by making a decent attempt to encourage her the way of life and the language so she can be acquainted with the Spanish way of life. Despite the fact that she attempts to learn, she battles to articulate the words however that was normal, as she had no up welcoming on that issue. The young lady feels so confounded and thus feels caught between the sort of character her mom raised her to be and what her identity is relied upon to be by the general public. She is clashed in light of the fact that is an evacuee f rom two distinct societies and the ship...will never dock... in light of the fact that the boat speaks to her life and she should carry on with that life to become what she is to be. In the sonnet the â€Å"refugee ship†, an image is painted of one who is befuddled due to the two societies she needs to manage. Truth be told, she doesn't have the foggiest idea what the importance of the things mean and abuses a few words improperly. She voices her disappointments while discussing the boat never docking. Actually, it very well may be derived that she is socially destitute. This sonnet gives an away from of what could have occurred because of movement. Learning another culture would be troublesome as one would not know about what the person in question becomes because of the disarray that radiates from not having the option to fathom the other culture and ace it for endurance. The sonnet â€Å"refugee ship† is a traditional picture that attempts to illustrate the experience of the Vietnamese while utilizing the pontoon as a transportation mode (Chmidt and Crockett, 5). An inside and out examination of the sonnet would illustrate what occurred from an alternate point of view. In the sonnet, there is a granddaughter and the grandma attempting to get along, however one significant test is that they are not in understanding as they can't comprehend each other due to the language boundary. It appears to be however that the two are in an alternate world. This portrays the Vietnamese during the hour of escaping the annihilations of war. As a settler the principal challenge one would confront is the issue of correspondence as one isn't a situation to argue since they can't comprehend. During the war that turned the Vietnamese as displaced people and foreigners, dominant parts were incredibly influenced. The way of life stun was one of with the end goal that was a major test. Around then, bigotry was likewise a significant issue and in this way, they had no way out, yet to confront the difficulties that accompanied their new status are migrants. Canada was one of those nations that facilitated various workers from Vietnam. For example, if any of the displaced people or outsiders took a gander at the sonnet outcast boat, at that point it would remind them who they were previously and how they procured their status. As evacuees, the Vietnamese lost a great deal as far as social conservation and advancement throughout everyday life. For instance, numerous kids missed some significant phases of youth at the hour of war, as some couldn't appreciate or have the benefit of growing up with their companions a factor that is significant for youth advancement. Some couldn't likewise go to class and it along these lines implied they lingered behind as their capacity to peruse and compose were not improved. A significant annihilation of was the awf ul encounters of war. War has the amazing ability to destabilize a general public in a brief timeframe. Numerous people who knew and unconscious of the war have felt the obliteration of that battle. Many individuals had to escape from their local home in light of the fact that the war had become a difficult issue and lose of life had gotten famous. Practically 2.5 million individuals were said to have

Matlab vs Octave Which One is Better Language and Why

Matlab vs Octave Which One is Better Language and Why In this blog, we are going to clear all your doubts between Matlab vs Octave. Here we go:- Meaning of Matlab Summary Meaning of MatlabUses of MatlabMeaning of OctaveUses of OctaveMatlab vs OctaveDefinitionProgrammedInterfaceRAMCostUsageUsing the Empty FileOperatorsFinal words for Matlab vs Octave MATLAB is a numerical analysis environment as well as a fourth-generation computer programming language. It was developed in 1970 by Cleve Moler, who used to be the administrator of the computer science department at the University of New Mexico. Cleve Moler always wanted to provide his students with a better method to learn linear algebra as well as matrix calculation without having the use of FORTRAN (a traditional language for computing). Uses of Matlab With the use of Matlab, you can: Analyze dataCreate models as well as ApplicationsDeveloping the use of AlgorithmMatrix Manipulation Meaning of Octave Octave is considered as a high-level interpreted programming language that is used for numerical computations. It is also an operationally critical threat, asset as well as vulnerability evaluation. Octave was originated at Carnegie Mellon University in 2001 for the Department of Defense in the United States of America. It is a set of techniques that we use for risk assessment in the area of Information Security. Uses of Octave The uses of Octave is as follows It provides a command-line interface for solving linear non-linear issues.For performing various numerical experimentsUsed for matrix computation alsoIt is used for algebraic differential equations.It is available in 19 languages. Matlab vs Octave Matlab and Octave are similar in many fields because they both are a high-level programming language. That is used in the field of computerization such as matrix calculation as well as in algorithms. Apart from this, the difference between Matlab vs Octave is as follows Definition Matlab is considered as a matrix laboratory which is known as a language used for technical computing. While Octave is a programming language that is popular for numerical programming. Programmed Matlab was written in C, C++, as well as Java. Whereas Octave was written in C, C++ as well as FORTRAN language. Interface Matlab has a better interface in comparison to Octave. RAM Matlab uses more RAM in comparison to Octave. Cost Matlab is not free, so it incurs a cost, whereas Octave is free. Usage Matlab provides an extensive set of tools to perform numerous tasks, whereas Octave depends on the syntax to perform any task. Using the Empty File While using Matlab, you cannot load any empty file, but it can be loaded in Octave. Operators Matlab doesn’t have the support of auto-increment as well as assigning operating. On the other hand, Octave is having proper support for auto-increment as well as assignment operators like i++. So, we have discussed the differences between Matlab and Octave as well as the similarity between Matlab and Octave in many ways. likewise, they both are helpful in high programming computing languages. That we used for matrix calculations as well as for other numerical factors.   Final words for Matlab vs Octave The whole study makes it clear that Octave is better than Matlab. The reason for it because Octave is free to use as well as its functions are also compatible with Matlab. It also assists some other high-programming language in making the functionality faster. We have the statics experts/specialists who can help you in assignment work for Matlab vs. Octave at some minor charges. Please give us a call in case of any problem regarding Matlab vs Octave study. Our company is providing expert service in this area. And they are sharing their knowledge in solving your issues.

Mega Sport Events - 7425 Words

Mega Sport Events (Thesis Sample) Content: The Impacts on Tourism during and after Mega-Sporting Events (Name) (Course) (Instructor) (Date) Executive Summary While mega-sporting activities have remained crucial events across the world, the benefits of such events are broad. With these activities being scheduled somewhere in the world at least once annually, many countries tend to bid to host them in order to benefit from the wide array of gains associated with them. Essentially, the tourism sector, among the other economic sectors, has been considered to be the crucial source of trade flows into the host country for a mega-sporting event. Besides the conventional economic gains, hosting mega-sporting events is also associated with intangible gains including pride and social & cultural development among other benefits. Through the use of the gravity model of bilateral exchanges between countries, this study measures the impacts of hosting mega-sporting events on tourism sector of the host country. This has been done through the use of four mega-sport events including FIFA World Cup, Rugby World Cup, Olympic Games (Winter and Summer) and Commonwealth Games from the year 2005-2010. Based on the results obtained, it was evidenced that mega-sporting events boost tourism significantly prior and during the event, but two years after the event the event becomes insignificant. Moreover, this study has evidenced that the type of the mega-sporting event is an important determinant of the magnitude of benefits to be enjoyed by the host country. The season of hosting such events was also considered as an important factor for successful hosting of the event, where winter events have been evidenced to be less successful than summer events. Table of Contents  TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc346724194"
CHAPTER 1 – INTRODUCTION  PAGEREF _Toc346724194 \h
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1.1 Background of the Study  PAGEREF _Toc346724195 \h
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1.2 Statement of the Problem  PAGEREF _Toc346724196 \h
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1.3 Research Aim and Objectives  PAGEREF _Toc346724197 \h
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1.4 Research Questions  PAGEREF _Toc346724198 \h
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1.5 – Structure of the Dissertation  PAGEREF _Toc346724199 \h
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CHAPTER 2 – LITERATURE REVIEW  PAGEREF _Toc346724200 \h
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2.1 Mega-Sporting Events  PAGEREF _Toc346724201 \h
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2.2 Major Mega-Sporting Events between the Years 2005-2010  PAGEREF _Toc346724202 \h
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2.2.1 Olympic Games  PAGEREF _Toc346724203 \h
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2.2.2 FIFA World Cup  PAGEREF _Toc346724204 \h
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2.2.3 Commonwealth Games  PAGEREF _Toc346724205 \h
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2. 3 The Impact of Mega-Sport Events on Tourism in Host Countries  PAGEREF _Toc346724206 \h
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2.4 Common Mistakes Made in the Past Mega-Sporting Events  PAGEREF _Toc346724207 \h
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2.5 The Conceptual Framework of the Study  PAGEREF _Toc346724208 \h
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CHAPTER 3 – METHODOLOGY  PAGEREF _Toc346724209 \h
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3.1 The Methodological Approach to the Research Problem  PAGEREF _Toc346724210 \h
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3.2 The Gravity Equation Model  PAGEREF _Toc346724211 \h
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3.2 Source of Data  PAGEREF _Toc346724212 \h
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3.3 Limitations of the Research Methodology  PAGEREF _Toc346724213 \h
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CHAPTER 4 – RESEARCH FINDINGS  PAGEREF _Toc346724214 \h
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4.1 The Impac t of Mega-Sporting Events on Tourist Arrivals in the Same Year of Hosting the Event  PAGEREF _Toc346724215 \h
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4.2 – Impact of Different Mega-sport Events on Tourism  PAGEREF _Toc346724216 \h
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4.3 – The Lasting Legacy Created by Hosting Mega-Sporting Event on Tourism  PAGEREF _Toc346724217 \h
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CHAPTER 5 - DISCUSSION OF THE RESULTS  PAGEREF _Toc346724218 \h
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5.1 The Effects of Mega-Sporting Events on Tourism in the Host Country  PAGEREF _Toc346724219 \h
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5.2 Lasting Legacies for Tourism in Host Countries for Mega-Sporting Events  PAGEREF _Toc346724220 \h
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5.3 The Future of Mega-Sporting Event- Related Tourism  PAGEREF _Toc346724221 \h
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CHAPTER 6 – CONCLUSION AND RECOMMENDATIONS  PAGEREF _Toc346724222 \h
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REFERENCE LIST  PAGEREF _Toc346724223 \h
37  HYPERLINK \l "_Toc346724224"
APPENDIX  PAGEREF _Toc346724224 \h
42 CHAPTER 1 – INTRODUCTION 1.1 Background of the Study Over the past few decades, tourism has been one of the leading contributors of the growth of global trade services. While there are many factors influencing tourism growth in various parts of the world, mega-sporting events have been identified as one of the key boosters of tourism development in various countries (Andersson et al 2008, p. 164). According to Dansero & Puttilli (2010), mega-sporting events influence cultural, social and economic exchanges between countries due to their mass popular appeal and significance in the international context. Major sport events like FIFA World Cup, Common Wealth Games and Olympic Games among others have been considered as not only attracting increasingly international audience, but also seem to have p layed remarkable role in the shaping of the of various global tourism patterns. This has been done through highlighting new and unique tourism destinations through the creation of new legacies in the host states or cities. On this basis, the essence of mega-sporting events on tourism has drawn attention among scholars with the major focus being on how these events impact on international tourism trends. According to Fourie & Santana-Gallego (2011, p. 1366), most of these large sporting events have been considered to be the foundations of generating new territories that produce both tangible and intangible legacies that remain in the long-run even after the event. With the preparation of these mega events being associated with the restructuring of the available infrastructure and social amenities in the host countries, better training of services providers in the hospitality industry and improvement of the international awareness of the host country (Harris 2011), it is fundamentall y conceived that mega-sporting activities represents a platform for the flourishing of the tourism sector both during and after the event. Essentially, the temporary transformation of the prevailing hospitality sector is converted into long-lasting changes which act as tourist attraction centers even after the end of the mega-event. 1.2 Statement of the Problem Various scholars have developed various models and theories on how global mega-sport activities influence the growth of tourism in the destination cities or countries. However, very little empirical evidence has been brought into focus to explore ‘how’ mega-sporting events yield cross-country tourism benefits (Eilat and Einav 2004, p. 1319). This is because most of the existing literatures on the existing relationship between global mega-events and tourism growth have been focusing on single events and in most cases usually they focus on type of sporting activity (Kasimati 2003). On this basis, it has been u sually difficult to understand more comprehensively how mega events in the global platform affect the tourism sector of the host countries. Based on these literature gaps, this study seeks to explore how mega-sporting events impact on the host-country’s tourism sector by measuring across different mega-sporting activities hosted in various cities. Essentially, the research employs gravity specification standard in the international trade literatures to approximate any changes in the tourism capacities from hosting four different mega-sporting events which include FIFA World Cup, Rigby World Cup, Summer Olympic Games and Cricket World Cup over the period between the years 2005-2010. 1.3 Research Aim and Objectives The ultimate aim of this study is to explore and identify the major impacts of mega-sporting events on tourism sector of the host countries or cities. This study will provide a comprehensive analysis on how host country’s tourism sector is affected during th e event and the legacy left behind on the entire tourism and hospitality industry. On this basis, the following are the key objectives for this study: The main objective of this study is to provide a comprehensive analysis on how future organizing countries for mega-sporting activities can take valuable examples from previous events in order to achieve maximum gains in their hospitality sector. This project also aims at highlighting the mistakes that were made during the past mega-events in order to provide a framework on how to avoid such mistakes in the future. Moreover, this aims at providing an insightful understanding on ways mega-sporting events and tourism activities in the host cities or countries are related. Another objective of this study is also to gain maximum acknowledgement of ways through which host country’s tourism sector can be improved to attract tourism even after the mega-sporting event. 1.4 Research Questions This project seeks at providing answer s for the following research questions based on the aims and objectives outlined above: Do mega-sporting events im...

Before Obamacare, the National Health Insurance Plan

The Implementation Of Music Therapy Workshop Essay

Resources. Time: Parents will need eight hours of proper training in the implementation of music therapy, such as songs, improvisation, and movement to music. Professional Proctors: Training will be provided alongside proctors in the eight-hour â€Å"implementation of music therapy workshop† to promote competence of the therapy. Money: Participants will be paid a stipend for participating for the duration of the workshop. An estimated financial need is $2,500. An $825 budget will be set aside for the participants’ stipend, and the rest of the financial need is for training aids and music equipment. Expertise: Participants are required to apply the knowledge gained from the workshop to prove their competence of the therapy. Hands on experience are part of the workshop, as well as a survey, a form of feedback, support, and research questions, to rate the workshop. Participants/ Target Audience. The target audience for this â€Å"implementation of music therapy workshop† is parents and children (36–60 months) with no or limited capacity for social engagement. A total of fifty-five parents will complete the â€Å"implementation of music therapy workshop† and survey, a form of feedback, support, and research questions, to rate the workshop. Population and Sample. Convenience and availability to take the workshop, as well as have children (36–60 months) with no or limited capacity for social engagement are applicable to apply for the workshop. Only fifty-five parents will be randomlyShow MoreRelatedA Descriptive Study of the Practice of Music Therapy in Hong Kong17388 Words   |  70 PagesKONG BAPTIST UNIVERSITY DEPARTMENT OF MUSIC A DESCRIPTIVE STUDY OF THE PRACTICE OF MUSIC THERAPY IN HONG KONG By LAM HOI YAN April, 2007 04002865 ABSTRACT The purpose of the study was to examine the development of music therapy in Hong Kong. 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Essay on Mozart and Beethoven - 2563 Words

Music Appreciation May 2010 Mozart and Beethoven Wolfgang Amadeus Mozart and Ludwig van Beethoven are two of the greatest composers ever to write music. Both men lived in the early 18th and 19th century, but their music and influences are still felt today. The men faced similar experiences, yet they both lead very different lives. All together the pieces that these men composed amounts to over 300 published, and unpublished works of art. The people of their time period often had mixed feelings about these men, some â€Å"complained that Mozart’s music presented them with too many ideas and that his melodies moved from one to the next faster than audiences could follow, yet the ideas themselves seem effortless and natural, clear and†¦show more content†¦Wolfgang was busy during his childhood, playing, and practicing his music; he did not get much of a chance to really experience being a child. His father was constantly pushing him to be better, to play hard, and to make more money. Mozart and his father were eviden tly close, there are many different views to how Leopold fathered his children; some say he was a money hungry truant, others say he was sweet, sensitive, wanted the best for his children, and that the money didn’t matter. I believe that Leopold want the best for his children, and maybe a little money out of it. Eventually, Mozart wanted to leave his native home of Salzburg, he was most likely tired of his father constantly trying to control his life. Having knowledge of the lack of jobs in Vienna, and disregarding his fathers pleads, Mozart left his home anyways, heading for Vienna with no steady job. Playful and boyish were just two characteristics Mozart exhibited. He was also described as being eccentric, rebellious, intelligent and quick-witted. He had a difficult time making the transition to adulthood. He was also said to be a compulsive gambler, and was in debt by the early 1790s. 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How do others influence our behaviour Discuss with...

Word count: 1,633 How do others influence our behaviour? Discuss with reference to social psychology theory and research. Social influence has many different definitions in psychology, it is mainly used to summarise the field of social psychology. Mainly looking at â€Å"how thoughts, feelings and behaviour of individuals are influenced by actual, imagined or implied presence of others† (McGrath, 1970.) Our social life is mainly distinguished by our social influences; influences we are both consciously and subconsciously aware of. As individuals we occasionally change our behaviour to fit in to social situations, we alter our behaviours as we are unsure of the correct way to feel or act and use others as a resource of information. Our†¦show more content†¦Normative influence however usually results in compliance, whereby although a person may be seen to change their opinion, outside of the situation they will revert to their original opinion. Asch study lacks validity in that it cannot be readily applied to real world situations. Williams and Sogon (1984) studied Japanese students who belonged to a sports club and found that conformity was even higher when the majority influence was people whom the students knew. However it is important to remember this could represent the collectivistic nature of Japanese society and may not be generalisable to other societies. A further study into cultural factors by (Smith and Bond, 1993) showed that conformity within individualist cultures does appear to be higher in societies where group harmony is important. A study conducted by (Jenness, 1932) involved a jar of beans and students estimating how many beans were inside the jar. After, he grouped the participants together to discuss the contents. When they were separated and asked their opinions again, Jenness found that the estimates had converged around a central figure and group norm. The conclusion suggested that in ambiguous situations, we tend look to others for help, assuming that a majority figure will be more reliable. (Sherif, 1935) asked participants to sit in a darkened room and had to guess how much an a spot of lightShow MoreRelatedClassic Behavioristic Principles of Psychology Developed by B.F. Skinner1372 Words   |  6 PagesAccording to Gewirtz and Pelà ¡ez-Nogueras (1992), â€Å"B. F. Skinner contributed a great deal to advancing an understanding of basic psychological processes and to the applications of science-based interventions to problems of individual and social importance.† He contributed to â€Å"human and nonhuman behavior, including human behavioral development, and to various segments of the life span, including human infancy† (p. 1411). One of Skinners greatest scientific discoveries was â€Å"single reinforcement† whichRead MoreSocial Psychology Prosocial Behaviour1444 Words   |  6 PagesEssay ‘Using social psychology theories, discuss the situational factors that affect the likelihood that people will engage in prosocial behaviour. What is the evidence for these effects, and how might changes in our society affect the likelihood of people acting prosocially? According to Gross (2010) the term prosocial behaviour is used to describe behaviours carried out by individuals intended to benefit others, such as helping, cooperating, comforting, reassuring, defending, sharing, donatingRead MoreEssay on The History of Psychology1423 Words   |  6 PagesThe History of Psychology In order to discuss Psychologys history, it is important to understand that psychology still does not have one unifying approach unlike the natural sciences; even the definition of Psychology and what it truly means is still undecided. 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Holland has proposedRead MoreBehaviourist and Social Learning2452 Words   |  10 PagesWith reference to chosen theory of learning (behaviourist, social learning) discuss its application to patient education in context of general nursing. It may be said; why is psychology significant in nursing care and why do we use learning theories to assist in patient care? Well according to Walker et al (2007), in the caring profession nurses, spend most, if not all of their working lives interacting with other people. A key part of a nurse’s job is to promote healthful behaviour. When a patientRead MoreDescription of The Psychology of Action1298 Words   |  6 Pagesfor a complete understanding of the causes of human behavior. Discuss Relying on ones intuition is an inaccurate way of deciding on the causes of a person’s behavior. A person behavior is normally shaped by past experiences, culture, education or genes. Hence intuition is not an adequate means by which one can assess the behavioral pattern of an individual. Scholars, over the years, have explored this phenomenon of what influences our behavior and have shown that intuition is not adequate enoughRead MoreBoth Nature and Nurture Influence Human Behaviour1918 Words   |  8 Pages‛BOTH NATURE AND NURTURE INFLUENCE HUMAN BEHAVIOUR’ The Concise Oxford Dictionary of Current English defines Nature as â€Å"persons or animal’s innate character, and innate meaning inborn†. This means that nature plays a large part in how humans inherit the physical characteristics of their parents, but also that their personalities and characters are predetermined by family genetics. The dictionary also defines nurture as â€Å"bringing up, fostering care† which implies learning and training to regulate

Ratio Analysis Free Essays

string(98) " so that a meaningful interpretation could be made through inter-firm and intra firm comparisons\." Though there are innumerable literatures available on the subject, the most appropriate studies have been reviewed. Dr. Promod Kumar published a book in 1991 â€Å"Analysis of financial statement of Indian Industries† The study covered the 17 private sector, 5 state owned public sector and 1 central public sector companies. We will write a custom essay sample on Ratio Analysis or any similar topic only for you Order Now He studied analysis of activities, assessment of profitability, return on capital investment, analysis of financial structure, analysis of fixed assets and working capital. In his research he revealed various problems of industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques of cost control. 1Ahindra Chakrabati published an articles â€Å"Performance of public sector enterprises a Case study on fertilizers† in â€Å"The Indian journal of public enterprise† in the year 1988-89. He made analysis of consumption and production of fertilizer by public sector; he also made analysis of profit and loss statement. He gave suggestion to improve the overall performance of public enterprise. In the year of 2002, Dr. Sugan C. Jain has written a book on â€Å"Performance appraisal automobile industry† In his study he has analyses the performance of the automobile industry and presented comparative study of some national and international units. The operational efficiency and profitability had been analyzed using the composite index approach. He made several suggestions from the st rengthening the financial soundness improving profitability, working capital the performance of fixed assets. 3 Recently in the year 1998 a study was made by S. J. parmar on â€Å"Financial Efficiency-Modern methods, tools Techniques† for the period from 1998-89 to 1994-95. He had made an attempt to analyze financial strength, liquidity, profitability, cost and sales trend and social welfare trend by using various ratios analysis, common size analysis and value added analysis. He made several suggestions for the improvement of profitability of industry. In his analysis, he indicates various reasons for higher cost, low profitability, and inefficient use of internal resources. Dr Sanjay Bhayani published a book in 2003, â€Å"Practical financial statement analysis† The study covered 16 public limited cement companies in private sector. He made study of analysis of profitability, working capital, capital structure and activity of Indian cement industry. In his research he revealed various problems of cement industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques o f cost control. Ram Kumar,Kakani Biswatosh saha and V. N. Reddy has written research paper on Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study. This paper attempts to provide an empirical validation of the widely held existing theories on the determinants of firm performance in the Indian context. The study uses financial statement and capital market data of 566 large Indian firms over a time frame of eight years divided into two sub-periods (viz. 1992-96, and 1996-2000) to study Indian firms’ financial performance across various dimensions viz. , shareholder value, accounting profitability and its components, growth and risk of the sample firms. It reveals that even on the same data, the determinants of market-based performance measures and accounting-based performance measures differ due to influence of ‘Capital Market Conditions’. We found that size, marketing expenditure, and international d iversification had a positive relation with a firm’s market valuation. Apart from these firm attributes that reflect either operating parameters of firms or ‘strategic choice’ of firm managers, we also found that a firm’s ownership composition, particularly the level of equity ownership by Domestic Financial Institutions and Dispersed Public Shareholders, and the leverage of the firm were important factors affecting its financial performance. The different implications of the findings for various stakeholders of a firm are also discussed. 6Dutts S. K has written an article on â€Å"Indian tea industry an appraisal† which was published in Management accountant in the year of March 1992. He analyzed the profitability, liquidity and financial efficiency by using various ratios. 7 Objectives of the study  · To evaluate the financial performance of the selected units of Pharmaceutical industry  · To compare the financial results of the Pharmaceutical industry as Dr Reddy’s Laboratories Ltd and Lupin Ltd  · To enquire the adequacy or the accounting information desired from the statement in conformity with laid down accounting statements by the institute of Chartered Accountants of India (ICAI).  · To study the growth of the said companies To give suggestion for best financing method and efficient utilization of fixed assets METHODOLOGY OF THE STUDY: Source of the data: â€Å"Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India† has been made by using data from financial statements of all five major players in cement industry, they are – Dr Reddy’s Laboratories Ltd. (Dr. RDL), Ambuja L upin Ltd. (LL), the period of the study was ten years from 2001 to 2010. The data was collected from cpitaline database and from the annual reports of the respective companies. Hypothesis for the study: For the present study tested following null hypotheses are tested-  · Ho1: The Dr Reddy’s Laboratories Ltd. did not achieve better profitability than Lupine Ltd.  · Ho2: The Dr Reddy’s Laboratories Ltd. did not achieve better liquidity than Lupine Ltd.  · Ho3: The Dr Reddy’s Laboratories Ltd. did not achieve better turnover than Lupine Ltd. Scope of the study: the study Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India. The study therefore includes financial structure performance, working capital performance, and Profitability performance but excludes non-financial areas such as production, marketing, personnel and R D from its purview. Techniques used for analysis: The data have been analyzed with the help of ratio analysis, trend analysis, common size analysis-T test to test the relation among different ratios of two selected companies. Limitation of the study: In order to facilitate uniformity in data, years have been readjusted and the data have been recast as on 31st March of each year. The figure taken from the annual reports have been rounded off to two decimals of rupees in crores. The data available in financial statements have been translated in to a pre-designed structure format so that a meaningful interpretation could be made through inter-firm and intra firm comparisons. You read "Ratio Analysis" in category "Papers" The format in which the data have been classified is selected after careful consideration of the operation Pharmaceutical Companies. Nevertheless, the limitations do in no way act as a deterrent in drawing effective and meaningful inferences from the study Analysis of the data: for knowing Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India the commonly used ratio: fixed Gross profit, Net profit, Return on capital employed, Return on Net worth and Earning per share, Current ratio, Debtors Velocity (Days), Creditors Velocity (Days), Debt equity ratio and Interest coverage ratio, Inventory turnover Ratio, Debtors Turnover Ratio and Total Assets Turnover Ratio Analysis and interpretation: Table-1 Profitability Ratios of Dr Reddy’s Laboratories Ltd Lupine Ltd. Gross profit Net profit ROC RON EPS Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. 2001 22. 16 9. 25 19 6. 65 31. 5 23. 02 29. 23 31. 13 45. 32 201. 66 2002 33. 1 12. 49 32. 39 7. 54 42. 06 16. 64 45. 71 22. 07 59. 56 17. 42 2003 30. 78 12. 2 28. 34 7. 3 26. 44 16. 05 24. 02 20. 3 50. 6 17. 44 2004 21. 55 19. 07 20. 4 12. 48 15. 61 27. 1 14. 7 36. 14 36. 37 23. 76 2005 7. 9 9. 77 9. 19 6. 96 2. 19 12. 75 2. 77 17. 79 7. 85 20. 09 2006 16. 27 16. 29 14. 12 11 9. 24 20. 86 8. 57 31. 93 26. 82 44. 61 2007 37. 06 16. 27 32. 39 10. 53 35. 94 19. 39 35. 47 27. 89 69. 45 36. 75 2008 21. 63 19. 27 18. 47 13. 53 12. 01 23. 85 10. 35 32. 02 27. 2 52. 31 2009 21. 77 18. 28 17. 8 14. 17 13. 55 22. 29 11. 14 30. 97 32. 25 48. 22 2010 28. 77 21. 56 23. 52 17. 7 17. 79 25. 6 15. 14 33. 23 48. 25 70. 7 Total 240. 99 154. 45 215. 62 107. 86 206. 33 207. 55 197. 1 283. 47 404. 09 532. 96 Average 24. 099 15. 445 21. 562 10. 786 20. 633 20. 755 19. 71 28. 347 40. 409 53. 296 Min 7. 9 9. 25 9. 19 6. 65 2. 19 12. 75 2. 77 17. 79 7. 85 17. 42 Max 37. 06 21. 56 32. 39 17. 7 42. 06 27. 1 45. 71 36. 14 69. 45 201. 66 Sources: Data has been taken from annual reports The gross profit ratio of Dr. RDL was 22. 16 % in 2001 which went down in to 7. 9% in 2005 but it rose up to 28. 7% in last years of the study period. The ratio ranged between 7. 9% in 2005 to 37. 06% in 2007. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 24. 09% indicated. The gross profit ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 15. 45%. The ratio was the highest in the year of 2010 and very lowest 2001. T-test T-Test: Calculated value of gross profit ratio is 2. 86 Tabulated value at 5% significant value=1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The Net profit ratio of Dr. RDL was 19% in the year of 2001 and increased to 32. 39% in the year of 2002. The ratio went down to 28. 34% in year of 2003. The ratio was very low of 9. 19% during the year of 2005 and very highest during the year of 2002. The average ratio was 21. 56% with fluctuated trend. The Net profit ratio of Lupin Ltd. was 6. 65 % in 2001 which went down in to 6. 96% in 2005 but it rose up to 17. 7% in last years of the study period. The ratio ranged between 6. 65% in 2001 to 17. 7% in 2010. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 10. 78% indicated. T-test Calculated value of net profit ratio is 4. 01 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The return on capital employed ratio was 31. 5% in 2001 which went down to 9. 24 % in the year of 2006 and also went down to 13. 55% and 17. 79 during the years of 2009 and 2010 respectively. The ratio ranged between 2. 19% in year of 2005to 42. 06% in the year of 2002. The ratio showed down ward trend with an average of 20. 63%. The return on capital employed of Lupin Ltd was showing much fluctuated trend during the year study period. The average ratio was 20. 76 in the Lupin Ltd which showed fluctuated trend during the study period. The ratio was 23. 02% in year of 2001 and 20. 86% in year of 2006 and 25. 6% during the last year of study period. The ratio has gone down due to decreased in volume of sales. The sales have gone down since price rise took place in market. T-test Calculated value of return on capital employed ratio is 0. 028 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. The Return on net worth ratio of Dr. RDL was 29. 3% in 2001 which went down in to 8. 57% in 2006 but it rose up to 15. 14% in last years of the study period. The ratio ranged between 2. 77% in 2005 to 45. 71% in 2002. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was indicated19. 71%. The Return on net worth ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 28. 347%. The ratio ranged between 17. 79% in 2005 to 36. 14% in 2004. T-test Calculated value of Return on net worth ratio is 1. 84 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. Earnings per share of Dr. RDL were Rs. 45. 32 in the year of 2001 and Rs 59. 56 in the year of 59. 56. The EPS went down to 50. 6 in the year of 2003 and Rs 36. 37 in the year 2004 and Rs. 7. 85 in the year of 2005. The EPS rose to 69. 45 in the year 2007and again went down to 27. 62 in 2008. The EPS Rs. 48. 25 during the last year of study period. The average ESP was 40. 41 with downward trend during the study period. The EPS was 201. 66 in Lupin Ltd. and went down to 20. 09 in the year of 2005 and reached down to 70. 7 during the last year of study period. The EPS showed lower level of EPS due to less utilization of financial leverage. T-test Calculated value of Earnings per share is 0. 70 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. Table-2 Liquidity ratio of Dr. RDL and Lupin Ltd. Current ratio Debtors Velocity (Days) Creditors Velocity (Days) Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 1. 69 1. 82 48 47 76 27 2002 3. 09 1. 74 54 61 79 35 2003 4. 86 1. 58 60 62 82 36 2004 3. 73 1. 34 60 66 85 38 2005 2. 49 1. 1 60 56 90 34 2006 1. 5 1. 38 59 57 94 35 2007 2. 21 1. 68 66 63 105 38 2008 3. 05 1. 53 85 69 109 42 2009 3. 15 1. 24 79 77 110 45 2010 2. 44 1. 27 100 81 120 52 Total 28. 56 14. 68 671 639 950 382 Average 2. 856 1. 468 63 62 92 37 Min 1. 69 1. 1 48 47 76 27 Max 4. 86 1. 82 100 81 120 52 Sources: Data has been taken from annual reports In year 2001 Dr. RDL has 1. 69 as its current ratio and after that it continuousl y increased from 3. 09 to 4. 86 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves from 2. 21 to 3. 05 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 2. 85. In year 2001 Lupin Ltd has 1. 82 as its current ratio and after that it continuously decreased from 1. 74 to 1. 58 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 1. 68 to 1. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 1. 46. T-test Calculated value of current ratio is 4. 50 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. In year 2001 Dr. RDL has 48 days as its Debtors Velocity (Days) and after that it continuously increased from 54 (Days) to 60 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 66 days to 85 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 63 days. In year 2001 Lupin Ltd. has 47 days as its Debtors Velocity (Days) and after that it continuously increased from 61 (Days) to 62 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves up from 63 days to 69 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 62 days. T-test Calculated value of Debtors Velocity (Days) is 0. 3 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL 76 days as its Creditors Velocity (Days) and after that it continuously increased from 79 (Days) to 82 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 105 days to 109 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 92 days. In year 2001 Lupin Ltd. 27 days as its Creditors Velocity (Days) and after that it continuously increased from 35 (Days) to 36 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed positives changes but it moves down from 38 days to 42 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 37 days. T-test Calculated value of Creditors Velocity (Days) is 10. 83 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Leverage Ratios of Dr. RDL Lupin Ltd. Table-3 Leverage Ratios of Dr. RDL Lupin Ltd. Debt equity ratio Interest coverage ratio Year Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. 2001 0. 56 1. 79 5. 05 2. 09 2002 0. 19 1. 88 34. 27 2. 55 2003 0. 01 1. 77 72. 27 2. 53 2004 0. 02 1. 24 72. 71 4. 89 2005 0. 08 0. 86 3. 82 4. 12 2006 0. 28 1. 18 10. 39 8. 6 2007 0. 19 1. 16 27. 29 8. 65 2008 0. 09 0. 83 40. 74 13. 99 2009 0. 11 0. 71 27. 62 2. 35 2010 0. 11 0. 47 68. 8 25. 97 Total 1. 64 11. 89 362. 96 85. 74 Average 0. 16 1. 19 36. 30 8. 57 Min 0. 01 0. 47 3. 82 2. 09 Max 0. 56 1. 88 72. 71 25. 97 Sources: Data has been taken from annual reports The Debt equity ratio of Dr. RDL was 0. 56 in 2001 which went down in to 0. 28 in 2006 but it went down to 0. 11 in last years of the study period. The ratio ranged between 0. 01 in 2003 to 0. 56 in 2001. The ratio showed highly fluctuated trend during the study period. The average Debt equity ratio was indicated 0. 16. In year 2001 Lupin Ltd. 1. 79 as its Debt equity ratio and after that it continuously decreased from 1. 8 to 1. 77 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed positives changes but it moves down from 1. 16 to 0. 83 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 19 days. T-test Calculated value of Debt equity ratio is 6. 28 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Interest coverage ratio of Dr. RDL was 5. 05 in the year of 2001 and Rs 3. 82 in the year of 2006. The Interest coverage ratio went up to 72. 7 in the year of 2003 and 72. 71 in the year 2004 and 3. 82 in the year of 2005. The Interest coverage ratio rose to 27. 29 in the year 2007and again went up to 40. 74in 2008. The Interest coverage ratio was 68. 8 during the last year of study period. The average Interest coverage ratio was 36. 30 with upward trend during the study period. In year 2001 Lupin Ltd. 2. 09 as its Debt equity ratio and after that it continuously decreased from 2. 55 to 2. 53 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negatives changes but it moves down from 8. 65 to 13. 99 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 8. 57. T-test Calculated value of Interest coverage ratio is 3. 13 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Table-4 Turnover ratio of Dr. RDL and Lupin Ltd. Inventory Turnover Ratio Debtors Turnover Ratio Total Assets Turnover Ratio Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 8. 65 11. 3 4. 76 5. 39 1. 03 1. 6 2002 9. 01 6. 61 4. 29 3. 06 0. 99 1. 32 2003 7. 44 7. 02 3. 64 2. 75 0. 92 1. 29 2004 6. 99 6. 74 3. 97 3. 89 0. 88 1. 7 2005 5. 79 5. 23 3. 78 5. 37 0. 85 1. 31 2006 5. 64 5. 95 4. 21 5. 69 0. 82 1. 28 2007 8. 69 5. 7 4. 94 4. 9 0. 75 1. 14 2008 6. 11 5. 08 3. 53 4. 7 0. 65 1. 09 2009 6. 16 4. 39 3. 66 4. 39 0. 64 0. 99 2010 5. 57 5. 13 3. 66 4. 51 0. 59 0. 94 Total 70. 05 63. 15 40. 44 44. 65 8. 12 12. 23 Average 7. 005 6. 315 4. 044 4. 465 0. 812 1. 223 Min 5. 57 4. 39 3. 53 2. 7 5 0. 59 0. 94 Max 9. 01 11. 3 4. 94 5. 69 1. 03 1. 6 Sources: Data has been taken from annual reports In year 2001 Dr. RDL 8. 65 as its Inventory Turnover Ratio and after that it continuously decreased from 9. 01 to 7. 44 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negatives changes but it moves down from 8. 69 to 6. 11 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 7. 01. In year 2001 Lupin Ltd. 11. 3 as its Inventory Turnover Ratio and after that it continuously increased from 6. 61 to 7. 02 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with ups and downs but it moves down from 5. 7 to 5. 08 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 6. 2. Calculated value of Inventory Turnover Ratio is 0. 72 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 4. 76 as its Debtors Turnover Ratio and after that it continuously decreased from 4. 29 to 3. 64 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 4. 94 to 3. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 04. In year 2001 Lupin Ltd. 5. 39 as its Debtors Turnover Ratio and after that it continuously decreased from 3. 06 to 2. 75 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 4. 9 to 4. 73 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 47. Calculated value of Debtors Turnover Ratio is 1. 21 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 1. 3 as its Total Assets Turnover Ratio and after that it continuously decreased from 0. 99 to 0. 92 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with downward movements but it moves down from 0. 75 to 0. 65 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 0. 81. In year 2001 Lupin Ltd. 1. 6 as its Total Assets Turnover Ratio and after that it continuously decreased from 1. 32 to 1. 29 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 1. 4 to 1. 09 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 22. Calculated value of Total Assets Turnover Ratio is 5. 34 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Summary findings and Conclusion The liquidity ratio of Lupin Ltd is highly threatening when compared with Dr. RDL. Thus Lupin Ltd has to control the current liabilities or to increase the current assets so that they can cover all the current liabilities and be in safer position. Thus slightly fluctuations in sales in that situation can not affect the paying capacity of the concern and thus maintain the credibility. The profitability ratio of Dr. RDL is better when it is compared with Lupin Ltd. It can be inferred from the result that Lupin Ltd can expand the business or can move further in newer directions as it is experiencing continuously growth in the profitability. Lupin Ltd has to give a fairer thought to reduce cost in providing services and increasing the turnover so that sustained growth in profitability can be seen Return on Net Capital Employed is the best test of overall profitability and efficiency of the business firm. A company with high rate of return on capital employed would be in a position to capitalize; e. g. it can take advantage of all favorable market opportunities. The study shows that returns on capital employed in selected units in India had marked a fluctuated trend. The average was 17. 79 and 25. 6 percent in units in India respectively. This ratio was satisfactory. On the whole Dr. DRL had the highest return net on capital employed of As compared to the Lupin ltd. In the light of the above discussion it is suggested that Lupin ltd should undertake cost control measure so that increase net profit before interest and taxes of the company might enhance the return on net capital employed. The solvency ratio also reveals the same track record of an upper hand over Lupin ltd. This position depicts the financial soundness or good financial health of the DR. RDL. In this sector Lupin ltd. has to work hard for providing the financial health in terms of capital also. The turnover ratio of Lupin Ltd. is showing better position when compared to DR. RDL. This fact proves that the market size in Lupin Ltd. s far more better than the DR. RDL which in turn is gearing its growth in all the stream. Thus DR. RDL has to work for increasing the market size and customer base so that it can achieve the trend of continuous growth. It can be inferred from the overall financial analysis that Lupin Ltd ltd. has to rethink and device the strategies so that it can lead to wards positive way and become the major players. Innovation though financial statement analysis can be seen though mergers and acquisitions and launching of new products and schemes so that enterprise can be proud of being major market players and setter newer and newer goals in the future. Cost accounting and cost audit should be made mandatory for this units and cost sheet along with annual financing statement should be prepared. The policy of borrowed financing in selected Parma group of companies under study was not proper. So the companies should use widely the borrowed funds and should try to reduce the fixed charges burden gradually by decreasing borrowed funds and by enhancing the owner’s fund. For this purpose companies should enlarge their equity share capital by issuing new equity shares. There has been too much of government interference in policy and day-to-day working and decisions. This leads to delays in decision-making. This should be abolished. There is no incentive to the employees to perform better. Also there is no accountability because no one is held responsible for a failure in achieving targets for this kind of problem responsibility centre should be created. Improper planning and delays in implementation of projects lead to rise in their cost. So properly planning should be made. To regularize and optimize the use of cash balance proper techniques may be adopted for planning and control of cash. The investments in inventories should be reduced and need to introduce a system of prompt collection of debts. Selected pharma companies should try to use properly their operating assets and should try to minimize their non-operating expenses. To conclude the study, it can be said that the adoption of above measures will doubtlessly help the selected companies to improve their overall performance in the management. With the efficient management of long term fund, selected companies can utilized their capacity optimally and accelerate economic growth of India by increasing the production of pharma product at reasonable cost. References. 1. Dr. Promod Kumar. â€Å"Analysis of financial statement of Indian Industries†Saujaniya Publication Ltd. 1992 2. Ahindra Chakrabati: â€Å"Performance of public sector enterprises a Case study on fertilizers† The Indian journal of public enterprise. 1988-89 3. Dr. Sugan C. Jain: â€Å"Performance appraisal automobile industry† Raj Publishing House, c2002. Jaipur, India 4. Parmar S. J. :â€Å"Financial Efficiency-Modern methods, tools Te chniques† Raj publication year of publication-2001 5. Dr Sanjay Bhayani: â€Å"Practical financial statement analysis† Raj publication,2003 6. Kakani, Ram Kumar, Saha, Biswatosh and Reddy, V. N. Nagi, Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study (November 2001). National Stock Exchange of India Limited, NSE Research Initiative Paper No. 5. 7. Dutts S. K has: â€Å"Indian tea industry an appraisal† Management accountant, March-1992 8. Brigham, Eugene. F and Joel F. Houston. â€Å"Fundamentals of Financial Management, Ninth Edition, Harcourt College Publishers, Fort Worth, 2001. 9. Review of Business Research, 2007 by Tarun K. Mukherjee, Prakash Deo. 10. Gitman, L. J. , â€Å"Principles of Management finance,† New York: Harper Row publishers,1982,p. 81 11. Paton Paton. , â€Å"Corporation Accounts and statements†, New York: Macmillan Company, 1964, p. 362. 12. Kulshreshtha, N. K. , â€Å"Analysis of Financial statements of Indian Paper industry†, Aligarh: Navman Publishing House, 1972, p. 133. 13. Kulshreshtha, N. K. , Op. cit. , p. 134. 14. Hunt W. and Donaldson, G. , †Å"Business Finance-text and cases†, Illinois: Richard D. Irwin, 1965, Pp. 114-115. 15. Roy Chowdhar, A. B. , â€Å"Analysis and Interpretation of Financial statements†, New Delhi Orient Longmans, 1970, p. 24. 16. Bogen, J. J. , â€Å"Financial Handbook† New Delhi: The Ronald press, 1957,p. 53. 17. Weston, J. F. and Brigham, E. F. , â€Å"Management finance†, New York: Holt, Rinehart and Winton, Inc, . 1972, p. 88. 18. Hingorani, N. L. and Raman than, A. R. , â€Å"Management Accounting†, New Delhi: Sultan Chand Sons, 1977,p. 115. 19. Srivastava, R. M. , â€Å"Financial Management†, Meerut India: Pragati Prakasjan, 1979, p. 476. 20. Westiwick, C. A. , â€Å"Management: How to use ratios†, Epping Essex: Grower Press Ltd. 1973,p. 5 21. Bogen, J. J. , Op. cit. Pp. 751-752. 22. Mohsin, M. , â€Å"Financial Planning and Control†; NewDelhi: Vikas publishing House Pvt. Ltd. , 1980, p. 174. 23. Kulshrestha, N. K. Op. cit. , 139. 24. HENDERSON, G. V. , Gurry, J. R. Trnnep Oh. , James E. Wirt. , â€Å"An Introduction to financial Management†, California: Addition-Wesley publishing company, 1984, p. 122. 25. Anthony, R. N. and Reece, J. S. , Op. , cit. , p. 198. 26. Information obtained through unstructured interviews from financial managers of the sample units though telephone. 27. Annual reports of selected cement company from 2003-04 to 2008-09 28. Kennedy, R. D. and Mcmullen, S. Y. , â€Å"Financial statements: Forms analysis and interpretation†, Illnois: Richard D. Irwin inc. 1964, p. 404. Information about this Article Peer-review ratings (from 2 reviews, where a score of 100 represents the ‘average’ level): Originality = 175. 00, importance = 162. 50, overall quality = 162. 50 This Article was published on 14th March, 2012 at 18:41:24 and has been viewed 2635 times. This work is licensed under a Creative Commons Attribution 2. 5 License. The f ull citation for this Article is: Kakkad, R. (2012). Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India-An empirical Analysis. PHILICA. COM Article number 318. How to cite Ratio Analysis, Papers Ratio Analysis Free Essays string(98) " so that a meaningful interpretation could be made through inter-firm and intra firm comparisons\." Though there are innumerable literatures available on the subject, the most appropriate studies have been reviewed. Dr. Promod Kumar published a book in 1991 â€Å"Analysis of financial statement of Indian Industries† The study covered the 17 private sector, 5 state owned public sector and 1 central public sector companies. We will write a custom essay sample on Ratio Analysis or any similar topic only for you Order Now He studied analysis of activities, assessment of profitability, return on capital investment, analysis of financial structure, analysis of fixed assets and working capital. In his research he revealed various problems of industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques of cost control. 1Ahindra Chakrabati published an articles â€Å"Performance of public sector enterprises a Case study on fertilizers† in â€Å"The Indian journal of public enterprise† in the year 1988-89. He made analysis of consumption and production of fertilizer by public sector; he also made analysis of profit and loss statement. He gave suggestion to improve the overall performance of public enterprise. In the year of 2002, Dr. Sugan C. Jain has written a book on â€Å"Performance appraisal automobile industry† In his study he has analyses the performance of the automobile industry and presented comparative study of some national and international units. The operational efficiency and profitability had been analyzed using the composite index approach. He made several suggestions from the st rengthening the financial soundness improving profitability, working capital the performance of fixed assets. 3 Recently in the year 1998 a study was made by S. J. parmar on â€Å"Financial Efficiency-Modern methods, tools Techniques† for the period from 1998-89 to 1994-95. He had made an attempt to analyze financial strength, liquidity, profitability, cost and sales trend and social welfare trend by using various ratios analysis, common size analysis and value added analysis. He made several suggestions for the improvement of profitability of industry. In his analysis, he indicates various reasons for higher cost, low profitability, and inefficient use of internal resources. Dr Sanjay Bhayani published a book in 2003, â€Å"Practical financial statement analysis† The study covered 16 public limited cement companies in private sector. He made study of analysis of profitability, working capital, capital structure and activity of Indian cement industry. In his research he revealed various problems of cement industries and suggested remedies for the problems. He also suggested for the improvement of profitability and techniques o f cost control. Ram Kumar,Kakani Biswatosh saha and V. N. Reddy has written research paper on Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study. This paper attempts to provide an empirical validation of the widely held existing theories on the determinants of firm performance in the Indian context. The study uses financial statement and capital market data of 566 large Indian firms over a time frame of eight years divided into two sub-periods (viz. 1992-96, and 1996-2000) to study Indian firms’ financial performance across various dimensions viz. , shareholder value, accounting profitability and its components, growth and risk of the sample firms. It reveals that even on the same data, the determinants of market-based performance measures and accounting-based performance measures differ due to influence of ‘Capital Market Conditions’. We found that size, marketing expenditure, and international d iversification had a positive relation with a firm’s market valuation. Apart from these firm attributes that reflect either operating parameters of firms or ‘strategic choice’ of firm managers, we also found that a firm’s ownership composition, particularly the level of equity ownership by Domestic Financial Institutions and Dispersed Public Shareholders, and the leverage of the firm were important factors affecting its financial performance. The different implications of the findings for various stakeholders of a firm are also discussed. 6Dutts S. K has written an article on â€Å"Indian tea industry an appraisal† which was published in Management accountant in the year of March 1992. He analyzed the profitability, liquidity and financial efficiency by using various ratios. 7 Objectives of the study  · To evaluate the financial performance of the selected units of Pharmaceutical industry  · To compare the financial results of the Pharmaceutical industry as Dr Reddy’s Laboratories Ltd and Lupin Ltd  · To enquire the adequacy or the accounting information desired from the statement in conformity with laid down accounting statements by the institute of Chartered Accountants of India (ICAI).  · To study the growth of the said companies To give suggestion for best financing method and efficient utilization of fixed assets METHODOLOGY OF THE STUDY: Source of the data: â€Å"Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India† has been made by using data from financial statements of all five major players in cement industry, they are – Dr Reddy’s Laboratories Ltd. (Dr. RDL), Ambuja L upin Ltd. (LL), the period of the study was ten years from 2001 to 2010. The data was collected from cpitaline database and from the annual reports of the respective companies. Hypothesis for the study: For the present study tested following null hypotheses are tested-  · Ho1: The Dr Reddy’s Laboratories Ltd. did not achieve better profitability than Lupine Ltd.  · Ho2: The Dr Reddy’s Laboratories Ltd. did not achieve better liquidity than Lupine Ltd.  · Ho3: The Dr Reddy’s Laboratories Ltd. did not achieve better turnover than Lupine Ltd. Scope of the study: the study Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India. The study therefore includes financial structure performance, working capital performance, and Profitability performance but excludes non-financial areas such as production, marketing, personnel and R D from its purview. Techniques used for analysis: The data have been analyzed with the help of ratio analysis, trend analysis, common size analysis-T test to test the relation among different ratios of two selected companies. Limitation of the study: In order to facilitate uniformity in data, years have been readjusted and the data have been recast as on 31st March of each year. The figure taken from the annual reports have been rounded off to two decimals of rupees in crores. The data available in financial statements have been translated in to a pre-designed structure format so that a meaningful interpretation could be made through inter-firm and intra firm comparisons. You read "Ratio Analysis" in category "Essay examples" The format in which the data have been classified is selected after careful consideration of the operation Pharmaceutical Companies. Nevertheless, the limitations do in no way act as a deterrent in drawing effective and meaningful inferences from the study Analysis of the data: for knowing Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India the commonly used ratio: fixed Gross profit, Net profit, Return on capital employed, Return on Net worth and Earning per share, Current ratio, Debtors Velocity (Days), Creditors Velocity (Days), Debt equity ratio and Interest coverage ratio, Inventory turnover Ratio, Debtors Turnover Ratio and Total Assets Turnover Ratio Analysis and interpretation: Table-1 Profitability Ratios of Dr Reddy’s Laboratories Ltd Lupine Ltd. Gross profit Net profit ROC RON EPS Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. Dr. RD Lupin Ltd. 2001 22. 16 9. 25 19 6. 65 31. 5 23. 02 29. 23 31. 13 45. 32 201. 66 2002 33. 1 12. 49 32. 39 7. 54 42. 06 16. 64 45. 71 22. 07 59. 56 17. 42 2003 30. 78 12. 2 28. 34 7. 3 26. 44 16. 05 24. 02 20. 3 50. 6 17. 44 2004 21. 55 19. 07 20. 4 12. 48 15. 61 27. 1 14. 7 36. 14 36. 37 23. 76 2005 7. 9 9. 77 9. 19 6. 96 2. 19 12. 75 2. 77 17. 79 7. 85 20. 09 2006 16. 27 16. 29 14. 12 11 9. 24 20. 86 8. 57 31. 93 26. 82 44. 61 2007 37. 06 16. 27 32. 39 10. 53 35. 94 19. 39 35. 47 27. 89 69. 45 36. 75 2008 21. 63 19. 27 18. 47 13. 53 12. 01 23. 85 10. 35 32. 02 27. 2 52. 31 2009 21. 77 18. 28 17. 8 14. 17 13. 55 22. 29 11. 14 30. 97 32. 25 48. 22 2010 28. 77 21. 56 23. 52 17. 7 17. 79 25. 6 15. 14 33. 23 48. 25 70. 7 Total 240. 99 154. 45 215. 62 107. 86 206. 33 207. 55 197. 1 283. 47 404. 09 532. 96 Average 24. 099 15. 445 21. 562 10. 786 20. 633 20. 755 19. 71 28. 347 40. 409 53. 296 Min 7. 9 9. 25 9. 19 6. 65 2. 19 12. 75 2. 77 17. 79 7. 85 17. 42 Max 37. 06 21. 56 32. 39 17. 7 42. 06 27. 1 45. 71 36. 14 69. 45 201. 66 Sources: Data has been taken from annual reports The gross profit ratio of Dr. RDL was 22. 16 % in 2001 which went down in to 7. 9% in 2005 but it rose up to 28. 7% in last years of the study period. The ratio ranged between 7. 9% in 2005 to 37. 06% in 2007. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 24. 09% indicated. The gross profit ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 15. 45%. The ratio was the highest in the year of 2010 and very lowest 2001. T-test T-Test: Calculated value of gross profit ratio is 2. 86 Tabulated value at 5% significant value=1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The Net profit ratio of Dr. RDL was 19% in the year of 2001 and increased to 32. 39% in the year of 2002. The ratio went down to 28. 34% in year of 2003. The ratio was very low of 9. 19% during the year of 2005 and very highest during the year of 2002. The average ratio was 21. 56% with fluctuated trend. The Net profit ratio of Lupin Ltd. was 6. 65 % in 2001 which went down in to 6. 96% in 2005 but it rose up to 17. 7% in last years of the study period. The ratio ranged between 6. 65% in 2001 to 17. 7% in 2010. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was 10. 78% indicated. T-test Calculated value of net profit ratio is 4. 01 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. The return on capital employed ratio was 31. 5% in 2001 which went down to 9. 24 % in the year of 2006 and also went down to 13. 55% and 17. 79 during the years of 2009 and 2010 respectively. The ratio ranged between 2. 19% in year of 2005to 42. 06% in the year of 2002. The ratio showed down ward trend with an average of 20. 63%. The return on capital employed of Lupin Ltd was showing much fluctuated trend during the year study period. The average ratio was 20. 76 in the Lupin Ltd which showed fluctuated trend during the study period. The ratio was 23. 02% in year of 2001 and 20. 86% in year of 2006 and 25. 6% during the last year of study period. The ratio has gone down due to decreased in volume of sales. The sales have gone down since price rise took place in market. T-test Calculated value of return on capital employed ratio is 0. 028 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. The Return on net worth ratio of Dr. RDL was 29. 3% in 2001 which went down in to 8. 57% in 2006 but it rose up to 15. 14% in last years of the study period. The ratio ranged between 2. 77% in 2005 to 45. 71% in 2002. The ratio showed highly fluctuated trend during the study period. The average gross profit ratio was indicated19. 71%. The Return on net worth ratio of Lupin Ltd. showed highly fluctuated trend during the study period with an average of 28. 347%. The ratio ranged between 17. 79% in 2005 to 36. 14% in 2004. T-test Calculated value of Return on net worth ratio is 1. 84 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. Earnings per share of Dr. RDL were Rs. 45. 32 in the year of 2001 and Rs 59. 56 in the year of 59. 56. The EPS went down to 50. 6 in the year of 2003 and Rs 36. 37 in the year 2004 and Rs. 7. 85 in the year of 2005. The EPS rose to 69. 45 in the year 2007and again went down to 27. 62 in 2008. The EPS Rs. 48. 25 during the last year of study period. The average ESP was 40. 41 with downward trend during the study period. The EPS was 201. 66 in Lupin Ltd. and went down to 20. 09 in the year of 2005 and reached down to 70. 7 during the last year of study period. The EPS showed lower level of EPS due to less utilization of financial leverage. T-test Calculated value of Earnings per share is 0. 70 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. Table-2 Liquidity ratio of Dr. RDL and Lupin Ltd. Current ratio Debtors Velocity (Days) Creditors Velocity (Days) Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 1. 69 1. 82 48 47 76 27 2002 3. 09 1. 74 54 61 79 35 2003 4. 86 1. 58 60 62 82 36 2004 3. 73 1. 34 60 66 85 38 2005 2. 49 1. 1 60 56 90 34 2006 1. 5 1. 38 59 57 94 35 2007 2. 21 1. 68 66 63 105 38 2008 3. 05 1. 53 85 69 109 42 2009 3. 15 1. 24 79 77 110 45 2010 2. 44 1. 27 100 81 120 52 Total 28. 56 14. 68 671 639 950 382 Average 2. 856 1. 468 63 62 92 37 Min 1. 69 1. 1 48 47 76 27 Max 4. 86 1. 82 100 81 120 52 Sources: Data has been taken from annual reports In year 2001 Dr. RDL has 1. 69 as its current ratio and after that it continuousl y increased from 3. 09 to 4. 86 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves from 2. 21 to 3. 05 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 2. 85. In year 2001 Lupin Ltd has 1. 82 as its current ratio and after that it continuously decreased from 1. 74 to 1. 58 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 1. 68 to 1. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuated with an average of 1. 46. T-test Calculated value of current ratio is 4. 50 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance cal ; t tab Hence hypothesis is rejected. In year 2001 Dr. RDL has 48 days as its Debtors Velocity (Days) and after that it continuously increased from 54 (Days) to 60 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 66 days to 85 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 63 days. In year 2001 Lupin Ltd. has 47 days as its Debtors Velocity (Days) and after that it continuously increased from 61 (Days) to 62 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves up from 63 days to 69 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 62 days. T-test Calculated value of Debtors Velocity (Days) is 0. 3 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL 76 days as its Creditors Velocity (Days) and after that it continuously increased from 79 (Days) to 82 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negative changes but it moves down from 105 days to 109 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 92 days. In year 2001 Lupin Ltd. 27 days as its Creditors Velocity (Days) and after that it continuously increased from 35 (Days) to 36 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed positives changes but it moves down from 38 days to 42 days in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 37 days. T-test Calculated value of Creditors Velocity (Days) is 10. 83 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Leverage Ratios of Dr. RDL Lupin Ltd. Table-3 Leverage Ratios of Dr. RDL Lupin Ltd. Debt equity ratio Interest coverage ratio Year Dr. RDL Lupin Ltd. Dr. RD Lupin Ltd. 2001 0. 56 1. 79 5. 05 2. 09 2002 0. 19 1. 88 34. 27 2. 55 2003 0. 01 1. 77 72. 27 2. 53 2004 0. 02 1. 24 72. 71 4. 89 2005 0. 08 0. 86 3. 82 4. 12 2006 0. 28 1. 18 10. 39 8. 6 2007 0. 19 1. 16 27. 29 8. 65 2008 0. 09 0. 83 40. 74 13. 99 2009 0. 11 0. 71 27. 62 2. 35 2010 0. 11 0. 47 68. 8 25. 97 Total 1. 64 11. 89 362. 96 85. 74 Average 0. 16 1. 19 36. 30 8. 57 Min 0. 01 0. 47 3. 82 2. 09 Max 0. 56 1. 88 72. 71 25. 97 Sources: Data has been taken from annual reports The Debt equity ratio of Dr. RDL was 0. 56 in 2001 which went down in to 0. 28 in 2006 but it went down to 0. 11 in last years of the study period. The ratio ranged between 0. 01 in 2003 to 0. 56 in 2001. The ratio showed highly fluctuated trend during the study period. The average Debt equity ratio was indicated 0. 16. In year 2001 Lupin Ltd. 1. 79 as its Debt equity ratio and after that it continuously decreased from 1. 8 to 1. 77 days in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed positives changes but it moves down from 1. 16 to 0. 83 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 19 days. T-test Calculated value of Debt equity ratio is 6. 28 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Interest coverage ratio of Dr. RDL was 5. 05 in the year of 2001 and Rs 3. 82 in the year of 2006. The Interest coverage ratio went up to 72. 7 in the year of 2003 and 72. 71 in the year 2004 and 3. 82 in the year of 2005. The Interest coverage ratio rose to 27. 29 in the year 2007and again went up to 40. 74in 2008. The Interest coverage ratio was 68. 8 during the last year of study period. The average Interest coverage ratio was 36. 30 with upward trend during the study period. In year 2001 Lupin Ltd. 2. 09 as its Debt equity ratio and after that it continuously decreased from 2. 55 to 2. 53 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negatives changes but it moves down from 8. 65 to 13. 99 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 8. 57. T-test Calculated value of Interest coverage ratio is 3. 13 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Table-4 Turnover ratio of Dr. RDL and Lupin Ltd. Inventory Turnover Ratio Debtors Turnover Ratio Total Assets Turnover Ratio Year Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. Dr. RDL Lupin Ltd. 2001 8. 65 11. 3 4. 76 5. 39 1. 03 1. 6 2002 9. 01 6. 61 4. 29 3. 06 0. 99 1. 32 2003 7. 44 7. 02 3. 64 2. 75 0. 92 1. 29 2004 6. 99 6. 74 3. 97 3. 89 0. 88 1. 7 2005 5. 79 5. 23 3. 78 5. 37 0. 85 1. 31 2006 5. 64 5. 95 4. 21 5. 69 0. 82 1. 28 2007 8. 69 5. 7 4. 94 4. 9 0. 75 1. 14 2008 6. 11 5. 08 3. 53 4. 7 0. 65 1. 09 2009 6. 16 4. 39 3. 66 4. 39 0. 64 0. 99 2010 5. 57 5. 13 3. 66 4. 51 0. 59 0. 94 Total 70. 05 63. 15 40. 44 44. 65 8. 12 12. 23 Average 7. 005 6. 315 4. 044 4. 465 0. 812 1. 223 Min 5. 57 4. 39 3. 53 2. 7 5 0. 59 0. 94 Max 9. 01 11. 3 4. 94 5. 69 1. 03 1. 6 Sources: Data has been taken from annual reports In year 2001 Dr. RDL 8. 65 as its Inventory Turnover Ratio and after that it continuously decreased from 9. 01 to 7. 44 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed negatives changes but it moves down from 8. 69 to 6. 11 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 7. 01. In year 2001 Lupin Ltd. 11. 3 as its Inventory Turnover Ratio and after that it continuously increased from 6. 61 to 7. 02 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with ups and downs but it moves down from 5. 7 to 5. 08 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 6. 2. Calculated value of Inventory Turnover Ratio is 0. 72 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 4. 76 as its Debtors Turnover Ratio and after that it continuously decreased from 4. 29 to 3. 64 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 4. 94 to 3. 53 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 04. In year 2001 Lupin Ltd. 5. 39 as its Debtors Turnover Ratio and after that it continuously decreased from 3. 06 to 2. 75 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 4. 9 to 4. 73 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 4. 47. Calculated value of Debtors Turnover Ratio is 1. 21 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is accepted. In year 2001 Dr. RDL. 1. 3 as its Total Assets Turnover Ratio and after that it continuously decreased from 0. 99 to 0. 92 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with downward movements but it moves down from 0. 75 to 0. 65 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 0. 81. In year 2001 Lupin Ltd. 1. 6 as its Total Assets Turnover Ratio and after that it continuously decreased from 1. 32 to 1. 29 in the year of 2002 and 2003 respectively. But in year 2004, 2005 2006 it also showed trend with upward movements but it moves down from 1. 4 to 1. 09 in year 2007 and 2008 respectively. In the year 2009 and 2010 it shows again little fluctuations with an average of 1. 22. Calculated value of Total Assets Turnover Ratio is 5. 34 Tabulated value at 5% significant value= 1. 73 d. e. f. = 18 at 5% of level of significance t cal ; t tab Hence hypothesis is rejected. Summary findings and Conclusion The liquidity ratio of Lupin Ltd is highly threatening when compared with Dr. RDL. Thus Lupin Ltd has to control the current liabilities or to increase the current assets so that they can cover all the current liabilities and be in safer position. Thus slightly fluctuations in sales in that situation can not affect the paying capacity of the concern and thus maintain the credibility. The profitability ratio of Dr. RDL is better when it is compared with Lupin Ltd. It can be inferred from the result that Lupin Ltd can expand the business or can move further in newer directions as it is experiencing continuously growth in the profitability. Lupin Ltd has to give a fairer thought to reduce cost in providing services and increasing the turnover so that sustained growth in profitability can be seen Return on Net Capital Employed is the best test of overall profitability and efficiency of the business firm. A company with high rate of return on capital employed would be in a position to capitalize; e. g. it can take advantage of all favorable market opportunities. The study shows that returns on capital employed in selected units in India had marked a fluctuated trend. The average was 17. 79 and 25. 6 percent in units in India respectively. This ratio was satisfactory. On the whole Dr. DRL had the highest return net on capital employed of As compared to the Lupin ltd. In the light of the above discussion it is suggested that Lupin ltd should undertake cost control measure so that increase net profit before interest and taxes of the company might enhance the return on net capital employed. The solvency ratio also reveals the same track record of an upper hand over Lupin ltd. This position depicts the financial soundness or good financial health of the DR. RDL. In this sector Lupin ltd. has to work hard for providing the financial health in terms of capital also. The turnover ratio of Lupin Ltd. is showing better position when compared to DR. RDL. This fact proves that the market size in Lupin Ltd. s far more better than the DR. RDL which in turn is gearing its growth in all the stream. Thus DR. RDL has to work for increasing the market size and customer base so that it can achieve the trend of continuous growth. It can be inferred from the overall financial analysis that Lupin Ltd ltd. has to rethink and device the strategies so that it can lead to wards positive way and become the major players. Innovation though financial statement analysis can be seen though mergers and acquisitions and launching of new products and schemes so that enterprise can be proud of being major market players and setter newer and newer goals in the future. Cost accounting and cost audit should be made mandatory for this units and cost sheet along with annual financing statement should be prepared. The policy of borrowed financing in selected Parma group of companies under study was not proper. So the companies should use widely the borrowed funds and should try to reduce the fixed charges burden gradually by decreasing borrowed funds and by enhancing the owner’s fund. For this purpose companies should enlarge their equity share capital by issuing new equity shares. There has been too much of government interference in policy and day-to-day working and decisions. This leads to delays in decision-making. This should be abolished. There is no incentive to the employees to perform better. Also there is no accountability because no one is held responsible for a failure in achieving targets for this kind of problem responsibility centre should be created. Improper planning and delays in implementation of projects lead to rise in their cost. So properly planning should be made. To regularize and optimize the use of cash balance proper techniques may be adopted for planning and control of cash. The investments in inventories should be reduced and need to introduce a system of prompt collection of debts. Selected pharma companies should try to use properly their operating assets and should try to minimize their non-operating expenses. To conclude the study, it can be said that the adoption of above measures will doubtlessly help the selected companies to improve their overall performance in the management. With the efficient management of long term fund, selected companies can utilized their capacity optimally and accelerate economic growth of India by increasing the production of pharma product at reasonable cost. References. 1. Dr. Promod Kumar. â€Å"Analysis of financial statement of Indian Industries†Saujaniya Publication Ltd. 1992 2. Ahindra Chakrabati: â€Å"Performance of public sector enterprises a Case study on fertilizers† The Indian journal of public enterprise. 1988-89 3. Dr. Sugan C. Jain: â€Å"Performance appraisal automobile industry† Raj Publishing House, c2002. Jaipur, India 4. Parmar S. J. :â€Å"Financial Efficiency-Modern methods, tools Te chniques† Raj publication year of publication-2001 5. Dr Sanjay Bhayani: â€Å"Practical financial statement analysis† Raj publication,2003 6. 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Trnnep Oh. , James E. Wirt. , â€Å"An Introduction to financial Management†, California: Addition-Wesley publishing company, 1984, p. 122. 25. Anthony, R. N. and Reece, J. S. , Op. , cit. , p. 198. 26. Information obtained through unstructured interviews from financial managers of the sample units though telephone. 27. Annual reports of selected cement company from 2003-04 to 2008-09 28. Kennedy, R. D. and Mcmullen, S. Y. , â€Å"Financial statements: Forms analysis and interpretation†, Illnois: Richard D. Irwin inc. 1964, p. 404. Information about this Article Peer-review ratings (from 2 reviews, where a score of 100 represents the ‘average’ level): Originality = 175. 00, importance = 162. 50, overall quality = 162. 50 This Article was published on 14th March, 2012 at 18:41:24 and has been viewed 2635 times. This work is licensed under a Creative Commons Attribution 2. 5 License. The f ull citation for this Article is: Kakkad, R. (2012). Comparative Financial statement Analysis Innovation in Private sector Pharmaceutical Companies in India-An empirical Analysis. PHILICA. COM Article number 318. How to cite Ratio Analysis, Essay examples