Obesity The United States Of America Essay - 958 Words

I have been naà ¯ve to an epidemic that has been plaguing America for quite some time now. It wasn’t talked about or taught much when I was younger. I thought that this disease was for the geriatric population. In 2012, 29.1 million Americans were diagnosed with diabetes. 8.1 million went undiagnosed. (diabetes.org) Diabetes is a dilemma and the statistics for this disease is rising steadily. Per the diabetes association there are 1.4 million of new cases of diabetes a year. Diabetes is the 7th leading cause of death in the united states of America. Diabetes is not affecting only one group of people. Diabetes.org states that 208,000 Americans under the age of 20 have been diagnosed with diabetes. In 2014 I started a new job at a call center. Prior to this occupation I had never personally, that I knew of interacted closely with anyone suffering from this disease. I had never heard of the younger population developing this illness and I certainly never heard any first-hand acc ounts on how diabetes affected the body. I discovered just how prevalent diabetes were in young adults. I watched people between the ages of 20-27 be afflicted by this disease. They had to constantly watch their diet to ensure that their blood glucose wasn’t either too high or too low. I watched a 20-year-old female be in and out of the hospital because of this disease. I hope to inform this reader of the dangers of this disease and what to do to prevent it. I have talked a lot about diabetes and I amShow MoreRelatedObesity And The United State Of America897 Words   |  4 PagesObesity in United State of America. One can imagine how obesity is taking over the world s population, so rapidly and it is obvious that the United States of America has high rates of Obesity. 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Reflections Teaching Financial Statement †Myassignmenthelp.Com

Question: Discuss About The Reflections Teaching Financial Statement? Answer: Introducation Billabong International Limited deals in retailing and wholesale of surf, sports apparel, snow, skate, hardware, accessories and trademark licensing of the company for specifying the worlds region. The segment of the company involves Americas, Asia Pacific, Europe and the rest part of the world. However, the primary business of the company is the clothing business and it carries out the activities of suitable distribution, marketing under retailing as well as whole selling of the garments, swimsuits, hard goods, eyewear and various other products (Billabongbiz.com 2017). Industry overview Billabong works in the garments business in Australia with extraordinary introduction to the surf business. The operations incorporate wholesaling and retailing of items, for example, surf, predominant quality skate, both snow and games clothing alongside embellishments and equipment. Examination of the business in which Billabong works uncovers that there is solid rivalry in the overall surf skate and also the garments (Billabongbiz.com 2017). The business evaluation of Billabong uncovers that the organization gets supports from the government. National strategies assisted country building, production of work, industrialisation, continuous governments set approaches of exchange to guard local apparel and also materials. The easy-going way of life in Australia and reasonable atmosphere guides Australians to use less on especially dress than people in generally similar to Western markets. During the year 2005 and 2006, turnover from the retail business in especially 'Apparel Retail' stores was approximated to be AUD 10.1 billion, suggesting expansion of garments deals in Department stores. Ratio analysis Calculation of ratio Ratio 2016 ($000) 2015 ($000) Industry Average Current Ratio Current Assets 464,454 523,753 Current Liabilities 197,932 236,768 2.35 2.21 2 Debt to Equity Ratio Debt 185,206 113,521 Equity 259,289 281,584 0.71 0.40 1 Gross Profit Margin Gross Profit -23,739 2,552 Total Sales 1,103,535 1,056,130 -2.15 0.24 60% Inventory Turnover Cost of Goods Sold 542,373 495,308 Average Inventory 185,556 187,125 2.92 2.65 4 times Trade Receivable Turnover Net Credit Sales 1,103,535 1,056,130 Average Accounts Receivable 171,644 164,504 6.43 6.42 6 times Analysis of companys performance through the ratios The current ratio states whether the company is able to pay off their short term obligation efficiently. It further states whether the company is efficiently using its working capital or not. It can be identified from the above calculation that the current ratio of the company for the year ended 2015 was 2.21 and that for the year ended 2016 was 2.35 and both the years current ratio was better as compared to the industry average of 2. However, it indicates that the company may not be using their working capital efficiently (William, Glover and Prawitt 2016). If the debt equity ratio of the company is considered, it can be recognized that for both the years the debt equity ratio of the company is lower than the industry average of 1 and for 2015 the ratio was 0.40 and for the year 2016 it was 0.71. Therefore, the ratio is indicating that the risk of raising finance through debt as compared to equity is increasing. It will expose the company with the risk of interest payment (Richard 2014). Gross profit margin ratio indicates the profitability ratio and it compares the gross profit of the company with regard to the net sales of the company. To be more specific, it is the mark-up percentage on the products and services from the cost. While considering the gross profit margin of the company, it is identified that gross profit margin of the company is significantly lower as compared to the industry average. Further, the company was not able to generate a positive margin during the year ended 2016. Therefore, the ratio indicating that the company is exposed to the profitability risk. There is further indication that the company I losing the sales on different products which is not a desirable condition for any business. The inventory turnover ratio is the efficiency ratio and it indicated the efficiency of the company regarding the management of its inventory. This reveals how efficiently the companys turnover is sold or turned during the specific period. This ratio is crucial as it considers two major item regarding performance. The 1st one is the purchase of stock and the 2nd one is the sales. If the stock is purchased at higher level, the company is to sell more to achieve the required turnover ratio. While the inventory turnover of the company is taken into consideration, it is identified that the inventory turnover ratio of the company for 2015 is 2.65 and for 2016 is 2.92 and for both the year the ratio is lower as compared to the industry average of 4. It indicates that the company is not efficient in managing their inventory. Account receivable turnover ratio is the efficiency ratio that computes the time for which the business is turning the receivable into cash during the particular period. This ratio measures the times for which the business can collect the average accounts receivable for the period under consideration. While considering the turnover with regard to trade receivable, it is identified that the turnover is better as compared to the industry average. Whereas the companys receivable turnover r is 6.42 and 6.43 respectively for 2015 and 2016, the industry average is 6 times. Areas of audit risk or business risk for the company The risk management approach of the company states that the company is not risk averse. Apart from this, the management is concerned about identification, management and discussion regarding the risk. Identified risks with regard to the company is as follows Translation Risk it is inferable from a significant portion of the groups operations that is outside the range of Australia, the group is fundamentally presented to certain money conversion standard risk. For this situation, this risk happens when the income related to offshore of the whole group and variances of advantage/assets are pronounced in Australian dollars. The section data of the group for the earlier period is essentially displayed on a steady cash basis using the present time frame normal trade rates on a month to month basis to change the past periods foreign earning. This is basically attempted to expel the impact of foreign trade activities from the execution of the whole group. Risk related to audit - audit risk of the firm basically happens due to inaccuracy in the financial statement opinion. The evaluators of the firm may neglect to recognize the risk of debt obligation. Failure on the part of the firm to act as per the association's money related contracts made by an extensive reduction in income or else profit or material adjustments in the AUD against USD swapping scale may require the organization to look for changes, waivers of pledge recognition or substitute getting courses of action (Arens et al. 2014). Company's assessment issues this may results into the operational risk with regard to tax in every country. This may have unfavourable effect by adjustments in both financial or else administrative summon, differences in clarification of the neighbourhood assess controls of those countries, and changes to introduce political, legal or else managerial techniques identified with charge. Proficient accountant of the firm may neglect to comprehend the expense undertakings and this may prompt material error (Houghton and Campbell 2013). Failure to recognition of social risk - Management of the company additionally neglects to distinguish the social dangers encompassing the matter of the firm and consolidate the impacts of social dangers in the financial declarations of the partnership. The organization sources particular merchandise that are made in countries, for example, China in which there remain dangers rotating wellbeing of working environment, support of wellbeing and security benchmarks. Material risk material risks are able to influence the entire financial aspects of the company. various material risks that have an impact on the company are as follows Social risk: the company is associated with the risks like safety and health standards and workplace related risks. Further, the accounting experts may not be able to focus strongly on these types of risks in the audit report as they are too concerned about finance matters. Competition: the company faces strong competition that has an impact on the earnings of the company. Further, the strategies and performance of the competitors has an adverse impact on the company. For example, if the competitor sells their product at lower price or introduce new product lines or paying more to the employees, manufacturing and develops alternative supply channels it will significantly hamper the business of Billabong (Entwistle 2015). Risk related to fashion: the risk associated with the fashion is that the company will fail to develop innovative and unique designs for apparels or the company will not be able to deliver the product as per the customer requirement. Risk related to brand: this risk will expose the company with the risk that will have a impact on the brand as a whole. For instance, the company minimized these risks through maintaining various customers data, making innovation in the product and managing the brand (Dalnial et al. 2014). Macro-economic environmental risk: this risk have an impact on the financial performance of the company as the various aspects under this risk takes into consideration the inflation rate, interest rate, foreign exchange rate, capital market situation and others. Further, the monetary as well as fiscal policies, governmental policies, investors sensitivity and the product pricing may affect the entire financial status of the company. Material misstatement Contingent upon figurings of major financial ratios, it can be therefore said that the organization confronts higher debt risks and it is evidential from the fact that the company has a higher level of debt equity ratio. Apart from that The organization confronts low income (negative profit) reflecting dangers of operations. For this situation, the risk may be identified with failures on the part of the accounting expert of the firm to recognize the dangers of various small scale and full scale financial elements reflected through the decrease in the profit and asset The major risk aspects identified with material error incorporate the debt obligation. Consequences of investigation of money related affirmations of the firm demonstrate that there is parcel of weight to do obligation financing (There is prerequisite to have obligation value proportion to be under 1 and it is seem to be under 1. The necessity may prompt withdrawal of advance that thus can have an aggressive impact on business activities (Cohen and Simnett 2014). Again, the current ratio is more noteworthy as compared to the industry average of 2. In this manner, there exists a likelihood that it indicates that the company may not be using their working capital efficiently and that led at the level of 2 or above (Arens et al. 2015). The inventory turn of the organization is additionally lower than the business standard reflecting lower ability of the partnership to transform inventories into money. The expert bookkeepers additionally may control the stock of the firm that can prompt unsafe practice. Along these lines, there exists likelihood that the stock of the firm may be changed by uncovering included stock amid the time of entry. There is additionally enhancement of the financial risk of the enterprise as is clear from the related risks that should be broke down in an offered to evaluate whether the confirmation are given in the monetary proclamations. References Arens, A.A., Best, P., Shailer, G., Fiedler, B., Elder, R.J. and Beasley, M., 2015.Auditing and assurance services in Australia: an integrated approach. Pearson Education Australia. Billabongbiz.com. 2017.Billabong Biz : Behind the Brand - Investors - Investors Home. [online] Available at: https://www.billabongbiz.com [Accessed 15 Sep. 2017]. Cohen, J.R. and Simnett, R., 2014. CSR and assurance services: A research agenda.Auditing: A Journal of Practice Theory,34(1), pp.59-74. Dalnial, H., Kamaluddin, A., Sanusi, Z.M. and Khairuddin, K.S., 2014. Detecting fraudulent financial reporting through financial statement analysis.Journal of Advanced Management Science Vol,2(1). Entwistle, G., 2015. Reflections on Teaching Financial Statement Analysis.Accounting Education,24(6), pp.555-558. Houghton, K. and Campbell, T., 2013.Ethics and auditing(p. 354). ANU Press. Richard, P., 2014. The Role of the Accounting Rate of Return in Financial Statement Analysis.The Continuing Debate Over Depreciation, Capital and Income (RLE Accounting),67(2), p.235. William Jr, M., Glover, S. and Prawitt, D., 2016.Auditing and assurance services: A systematic approach. McGraw-Hill Education.