Summary of the Odyssey - 1133 Words

name teacher English 14 March 2012 The ( Astonishing / Astounding / Outstanding ) Odyssey In the beginning of the movie, Odysseus s only son is born, Telemachus. Soon after though, Greece is at war with Troy, and the kings Agamemnon and Menalayes come to Ithica to force him to help fight in the war. He is forced to leave his new born son and wife, Penelope. Before he goes though, he tells her that she must marry if Telemachus has a beard and Odysseus has not returned. On his way towards Troy, Athena appears to him for the first time in the movie, and tells him that he must be strong and brave. She tells him that he must defeat the Trojans. After seven years of battle, the Trojans appear to have won, but Odysseus devises a plan†¦show more content†¦At the mouth of the cave they think that they are free, but then their ship tips into the mouth of Charybdis. There the rest of the men drown, and the ship was ravaged. Odysseus is left alone floating on what was left of the ship. After drifting at sea he sees Calypso s island and he swims to it. Calypso welcomes him w ith open arms and soon falls in love with him. Even though Odysseus wants to return home, there is no way for anyone to leave Calypso s island. After a long time Odysseus begins to forget about Ithica, but then, the messenger gods tell Calypso that she must release Odysseus from her island and that this is not his destiny. She unwillingly gives Odysseus wood to build a boat and sail away, but now before pleading with him to stay, and offering him immortality, but he still refuses. In the meantime, Telemachus got a ship and set out to find information on his father. He had gone to Sparta, where he was told that his father was indeed dead. So, Telemachus returns home. While Odysseus was returning home, his adversary, Poseidon, created huge waves that crashed into Odysseus s raft. Odysseus is then found, alive, washed up on the shore of Fayeesia, where he was honored and given the peoples finest ship. Odysseus takes the ship and sails to Ithica where he sees his son. Then, Athena turns Odysseus into a beggar so that he can go to his house and not be in any danger. There he talks to Penelope and tells her that Odysseus will be back, but sheShow MoreRelatedSummary Of The Odyssey 1537 Words   |  7 Pages Senior IX English September 22, 2014 The Importance of Perspectives in The Odyssey and The Penelopiad Margaret Atwood writes in her novel The Penelopiad â€Å"I’ve chosen to give the telling of the story to Penelope and the twelve hanged maids...which focus on two questions that must pose themselves after any close reading of The Odyssey: what led to the hanging of the maids, and what was Penelope really up to?† The Odyssey tells the story of the long journey of Odysseus’s return home to Ithaca afterRead MoreSummary Of The Night Odyssey 983 Words   |  4 Pagesyear, we decided to go another time to visit them. I never thought this would be one of my most regretted decisions I have ever made. I cannot remember the name of the place where we stayed for two weeks. The only thing I do remember is our night odyssey in Paris, how we weren’t able to find the way out through the maze tunnels to the highway which was supposed to lead us to the â€Å"no name† village in Brittany. Eventually, around midday, we arrived at our house. As we were the only ones with a childRead MoreThe Odyssey: A Summary by Alec Fields1313 Words   |  6 Pagesdrafted to fight in the Greek army. It was there that he did many heroic deeds, most notably his concoction of the Trojan Horse plan. But this story begins after all that after he offends the god Poseidon and is sent on his journey, his quest, his Odyssey.   Ã‚     Ismarus was sacked by Odysseus and his men. It was plentiful with money, food, and treasure. So plentiful that Odysseus men became greedy and they decided to enjoy themselves, against the wishes of Odysseus. To exploit these circumstancesRead MoreSummary Of Jealousy In Homers Odyssey856 Words   |  4 PagesThe Odyssey by Homer, is an epic poem that takes its readers on an adventure with the epic hero, Odysseus. It takes Odysseus ten years to return to his home, Ithaka, after the Trojan War. He faces many mystical monsters and the rage of the gods. A lot of problems that he faces come from the results of temptation. Giving into temptation leads to setbacks and consequences, just like how in The Odyssey the bag of wind, the cattle of Helios, and the sirens prevented Odysseus and his men from returningRead More Summary of 2001 A Space Odyssey and Personal Response Essay1819 Words   |  8 PagesSummary Review The title of this novel is 2001: A Space Odyssey, this amazing book was written by Arthur C. Clarke. Clarke has many degrees that allow him to give depth to the plot. Clarke has also written a lot of books, like the Space Odyssey series, Childhoods End, and many more. There are three major settings in this story. The first takes place on the moon, where the climax begins when TMA-1 is found. The second setting is the Inter-planetary ship Discovery, when it is on its way to oneRead MoreHomer: Blind or Captive Essay513 Words   |  3 Pagesknow when he lived? All of these questions will be answered in the following paragraphs. Homer is an interesting man, not much is known about him, and what is known about him is questioned by the â€Å"Homeric Question,† he composed The Iliad and The Odyssey, and that is what his life is based off of. Homer means blind or captive. He was said to be born in 800 BCE, but their is no exact date but they know it is between the 12th and 8th century BCE. He is believed to be blind man, because of a characterRead More The Odyssey Essay1550 Words   |  7 Pages Throughout vast journeys of many heroes, no other hero had a more complex journey than Odysseus. This journey is called The Odyssey, written by Homer. It is an epic poem or story told of a hero name Odysseus on a 20-year voyage trying to get back home from the Trojan War. The great epic poem known as The Odyssey and attributed to Homer was probably first written down around the eighth century BC, but the origins of the ancient story in myth, legend, and folklore and art appear to be much older.Read MoreThe Iliad And The Odyssey1060 Words   |  5 Pagesand The Odyssey. Homer’s stories are old and probably translated differently than their original telling. Homer’s The Iliad and The Odyssey still show the basic h uman emotions and are an inspiration to other authors, poets, and oral presenters. Homer was forgotten, but now Homer’s existence is almost legend. According to Cynthia Shelmerdine, August Wolf Friedrich, a German scholar, debated that more than one person wrote The Iliad and The Odyssey. Wolf believed that The Iliad and The Odyssey were writtenRead MoreThe Odyssey By Robert Fagles926 Words   |  4 Pagesof the Odyssey delineates a journey as both a transformative and life-changing experience that does not necessitate physical travel. Such characters as Odysseus, Telemachus, Penelope, and Athena have undergone physical, imaginative, spiritual, and emotional travel, which has had a telling influence on their lives. The journeys have played a critical role in shaping, transforming, and developing the characters. This paper will detail the journeys undertaken by various characters in the Odyssey. OdysseusRead MoreEssay about David Katan’s Translating Cultures1038 Words   |  5 Pagestoday there are many translations of ancient works and books, such as the Odyssey; and so, there is a wide range for people to choose from. This choice must be taken with the most care because some may be exceptionally good at communicating the essence of the original text while others may not have been done with precision or been well translated, or then do not recreate the effect of the originals. Amongst the most famous Odyssey translations, stand two particular works: those by Fagles and R. Fitzgerald

Broken Globe Stage 2 free essay sample

Characterization is the process by which authors make characters come alive for readers. Authors have many techniques available to portray characters, and they can broadly be divided into indirect and direct presentation. In the short story â€Å"The Broken Globe†, author Henry Kreisel brillantly develops the two principle characters, Nick Solchuk and his father, through indirect presentation. Consistency is the key to good characterization. From ? rst person point of view, the reader obtains a full portrait of both Nick and his father indirectly by learning what the narrator sees and hears somewhat objectively. Nick, the narrator’s friend, is a successful geophysicist studying the curvature of the earth. He demonstrates persistance, passion, and determination in the study of the earth. He asks the narrator â€Å"eagerly† with â€Å"his face reddening† about his paper to the International Congress. Even under the torture of his father, he still keeps his goal of proving that the earth moves. He even retorts his father by saying â€Å"You can beat me and break my globe, but you cannot stop [the earth] from moving. † This passage shows his determination in his belief. On the other hand, Nick’s father adopts personas of sophistication during the short visit of the narrator. His father is stubborn that he only believes what he sees is the truth: â€Å"[the earth] is ? at, and she stands still. † He is also imptuous and fractious that he â€Å"[beats] Nick like he is the devil† when he wants Nick to accept the same concept of the earth as he believes. Both characters are consistent and static, for they are still living in their own world: one lives in a ? at world and the other lives in the world of science. Another signi? cant objective of characterization is to reveal motivation. Kreisel’s story is set mainly in Alberta, a â€Å"land ? attens until there seemed nothing. † Living in Alberta, Nick’s father sees only the open prairies and ? elds every day; thus he perceives that the earth is exactly ? at and still as what he sees. Moreover, the reader learns that he is hard to change his mind because â€Å"he received an education of sorts when he was a boy. † Therefore, he believes that the earth is the center of the universe and the center is still. Similarly, Nick’s motivation is intrigued by a teacher who teaches him the earth is round and is moving. This teacher’s â€Å"enthusiasm [is] infectious† as Nick says. The teacher shows Nick a world larger than the ?at prairies, a world that is exuberent. Although the two characters’ own views of the world contradict one another, they do care and love each other. To build characters that convincing, the author must make their actions realistic and believable. Nick and his father are plausible due to their backgrounds. Nick’s father is taught that â€Å"the earth is ? at and still,† and what he sees outside in Alberta is only the far-distant prairies with â€Å"neither hill nor tree nor bush. † Furthermore, Nick, suffering from the violence of his father, always illustrates indomitable perserverence in seeking the truth. He continually shows to his father a globe can move, even though he knows his father will be mad. People with bond ? de determination can achieve their goals, just like Nick achieves his goal and becomes a geophysicist (to prove his father wrong? ). Altogether, they both are rounded characters in that they demonstrate many attributes and traits. Nick’s father is a stubborn, impulsive, and fractious father whereas Nick is a passionate, indomitable, and persistent geophysicist. In the story â€Å"The Broke Globe† Henry Kreisel effectively utilizes many techniques to develop characters, and further reveals a thoughtful insight into life. Nick’s father who insistently believes that the world is ? at and still lives in his own â€Å"broken globe†, where â€Å"Satan has taken over all the world† but him. 1. Sample Task for English 12 Writing Prepared by Seaquam Page 15 Characterization: A Father and a Son, How the Apple Falls Characters can make a short story rich and worth reading. In Henry Kreisel’s â€Å"The Broke Globe† the differences in ethics between a man and his father is seen through the eyes of a somewhat neutral narrator. Nick Solchuk is a brilliant man of science, while his father is the polar opposite. His father is a pious prairie farmer who does not value higher education or the values its teaches. Even though these characters are presented indirectly, Kreisel utilizes other methods to develop the characters. He shows them as static and round characters who are plausible and who remain consistent. Being ? rst person narrative, no direct presentation is used because the author cannot speak directly. He simply assumes the persona of a a narrator and therefore all presentation is indirect. One can ? nd out a lot about a character by what others say about him. Nick’s father is developed in the beginning during the conversation between Nick and the narrator. At this point the reader discovers that Nick and his father differ in many ways. Obviously, Nick is a man of great intelligence as the narrator say, â€Å"he studied at Cambridge and got his doctorate there and was now doing research at the Imperial College. † The reader also learns that despite being a brilliant man, nick whistfully remembers his simple childhood growing up in Three Bear Hills, Alberta. Nick’s father is developed much the same way later on in the conversation. Nick reveals that his father is a polar opposite. Nick’s father is shown as a religious prairie farmer with â€Å"a strange imagination. † Nick also explains why there is tension between himself and his father. â€Å"Curious man my father. He had strange ideas and a strange imagination too. He couldn’t understand why I was going to school or university. † â€Å"I suddenly realized that the shape of the world he lived in had O been O ? xed for him by some medieval priest in the small Ukranian villiage he was born in O But he still lived in the universe of the medieval church. : The reader now knows that Nick and his father are very different. Dialogue becomes a very important part of this story. The reader learns a lot about the father by what he says and by what he says he does. The ? rst meeting between the father and the narrator shows a lot about the father. â€Å"You friend of NickOWhat he do now? O still tampering with the earth? † Now, it has been con? rmed that Nick’s ideas differ greatly from his father’s. Nick’s father may be a simple prairie farmer, but that does not mean that he is rude. The father acts very formally when inviting the narrator inside his house. He stands as the narrator comes in, which is a sign of respect; he even brings out coffee for the narrator. The reader continues to learn about the relationship Nick’s father has with his son, and certain other people. The father explains how he exploded at a teacher for â€Å"letting Satan in† and for teaching Nick science at school. This act shows how the father deals with other people. The father goes on to elaborate on how he dealt with Nick as a child. â€Å"I grab him by the arm and I shake him and I beat him like he was the devilOAnd he made me madder and madder because he doesn’t cry or shout or nothing. † â€Å"I would of killed him right there for sure. † The reader now knows how he handles his son. Nick and his father are both static, round characters. They do not change at the end of the story, but they have many traits. Nick’s father proves he does not change by saying to the narrator â€Å"Satan has taken over all the world. † Then he suddenly rousled himself and hits the table with his ? st crying passionately, â€Å"But not me! Not me! † The characters act consistently throughout the story. â€Å"The Broken Globe† is a deeply driven character story. Both main characters are well developed. In some cases, the apple falls very far from the tree.

The Rougarou free essay sample

The Rougarou Deep in Cajun country there is a legend, it is the legend of a shape shifter known by the locals as the Rougarou. The Rougarou is known to suck the blood out of its prey, somewhat similar to the Mexican Chupacabra, but unlike the Chupacabra, the Rougarou does not have a preference to a certain animal such as the Chupacabra to goats. The Rougarou is known to stalk farm animals and decimate the bodies in the night, leaving the farmers in dismay as to who or what has killed his/her livestock. The local sheriffs departments seem to get quite a few of â€Å"strange calls† to disturbances on the bayou that most of the time are just trespassing or breaking and entry, but sometimes, just sometimes, things get weird. Local folktale suggests the Rougarou is a demon that takes human form to punish the wicked. Others say that the Rougarou is complete myth and should be tossed in the barrel with the loch ness monster and bigfoot, While some parents say that the Rougarou was made up to scare young children to behave parents would say things such as: â€Å"you young ones be good now or the Rougarou will get you†. We will write a custom essay sample on The Rougarou or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page One of the myths that surround the Rougarou is that the Rougarou torments damned souls. The Rougarou is that of legend, it has only been caught on camera a very few times and those times give the Rougarou impossible proportions. One such time that the Rougarou was caught on camera it was in a small parish in Louisiana. The Rougarou is described by those who have seen it to be 7ft or taller to have short legs and arms that drag upon the ground, but that is only one of it’s shapes due to the fact that it is a shape shifter. There have been many strange abductions that surrounds the tale of the Rougarou, the bodies usually turn up in the bayou torn apart and having no remaining blood in the body. These occurrences are few and far in between but they puzzle the police to no end, posing questions such as: â€Å"what is happening to these people? † and â€Å"who would do such a thing? The intrigue of the Rougarou has sparked many hunters to go after such a strange beast to collect the many rewards that have been placed upon the creature’s head. Some people involved in Voodoo believe that the Rougarou is what they summon to torment people, others believe that the Rougarou is merely legend, either way it is an amazing tale.

Airline Marketing Plan free essay sample

Executive Summary 1. 0 Executive Summary Puddle Jumpers Airlines, Inc. is a new consumer airline in its formative stages. It is being organized to take advantage of a specific gap in the short-haul domestic travel market. The gap exists in low cost service out of Anytown, U. S. A. The gap in the availability of low cost service in and out of the Anytown hub coupled with the demand for passenger travel on selected routes from Anytown indicates that a new entrant airline could be expected to capture a significant portion of current air travel business at that hub. The management of Puddle Jumpers is experienced in airline start-ups. Previously management grew Private Jet Airlines from a single Boeing 727 to a fleet of 16 MD80 series aircraft. Revenues grew to $130 million in a two year period from 1992 through 1993. Our research and projections indicate that air travel to and from Anytown is sufficient to provide a new carrier with revenues of $110 million dollars in its first full year of operations, utilizing six aircraft and selected short-haul routes. These sales figures are based upon load factors of only 55% in year one. Second year revenues are expected to exceed $216 million dollars with additional aircraft and expanded routes. Load factors for year two are 62%. The Puddle Jumpers plan has the potential for a more rapid ramp-up than was the case with Private Jet due to the nature of the routes and the demand for travel currently in the targeted markets served. In short, the frequency of flights needed to serve Puddle Jumperss target market exceeds the demand that dictated Private Jets growth. These sales levels will produce net profit of just over $1 million in the first operational year and $21. 4 million dollars in flight year two. Profits in year one will be 1% of sales and will improve to 10% of sales with the economies gained in year two. The over-all operational long term profit target will be 16% of sales as net profit in years three, four, and five. The companys long term plan is part of the due diligence package. The first operational year is actually fiscal year two in this plan. The first year of formative operations will burn cash until revenue can commence. This is due to the organizational and regulatory obligations of a new air carrier. Investment activity is needed to handle the expenses of this phase of the business. The following chart illustrates the over-all highlights of our business plan over the first three years. Gross Margin here is approximately 87% of sales since the only costs included in this calculation are travel agent commissions, credit card discounts, and federal excise taxes. Travel agent commissions are calculated on 30% of sales even though management feels the actual number will not exceed 10% of sales. NOTE: For display purposes in this sample plan, numerical values in tables and charts are shown in thousands (000s). Highlights 1. 1 Objectives The Company has the following objectives: 1. To obtain required D. O. T. and F. A. A. certifications on or before March 1, 1997. 2. To commence revenue service on or before July 1, 1997. 3. To raise sufficient seed and bridge capital in a timely fashion to financially enable these objectives. 4. To commence operations with two McDonnell-Douglas MD-80 series aircraft in month one, four by end of month four, and six by end of month six. 5. To add one aircraft per month during year two for a total of 18 at year two end. 1. 2 Mission Puddle Jumpers International Airlines, Inc. has a mission to provide safe, efficient, low-cost consumer air travel service. Our service will emphasize safety as its highest priority. We will operate the newest and best maintained aircraft available. We will never skimp on maintenance in any fashion whatsoever. We will strive to operate our flights on time. We will provide friendly and courteous no frill service. 1. 3 Keys to Success The keys to success are: Obtaining the required governmental approvals. Securing financing. Experienced management. (Already in place). Marketing; either dealing with channel problems and barriers to entry; or solving problems with major advertising and promotion budgets. Targeted market share must be achieved even amidst expected competition. Product quality. Always with safety foremost. Services delivered on time, costs controlled, marketing budgets managed. There is a temptation to fix on growth at the expense of profits. Also, rapid growth will be curtailed in order to keep maintenance standards both strict and measurable. Cost control. The over-all cost per ASM (available seat mile) is pegged at 7. 0 cents or less in 1996 dollars. This ASM factor places Puddle Jumpers in a grouping of the lowest four in the airline industry within the short-haul market. (US Air, the dominate carrier in the Anytown market, averages 12. 0 cents per ASM by comparison). The only three airlines with lower operating costs also operate older and less reliable equipment, and even then the lowest short-haul cost in the airline industry is currently Southwest at 6. 43 cents per ASM. Company Summary 2. 0 Company Summary Puddle Jumpers International Airlines is being formed in July, 1996 as a South State Corporation. Its offices will be in Anytown, Georgia. The founder of Puddle Jumpers is Kenneth D. Smith. Mr. Smith has extensive experience in consumer aviation. His bio as well as the backgrounds of all the members of Puddle Jumperss management team are enclosed herein. 2. 1 Company Ownership Puddle Jumpers International Airlines, Inc. will authorize 20,000,000 shares of common stock. 1,000,000 shares are to be set aside as founders stock to be divided among key management personnel. It is also expected that management stock options will be made available to key management personnel after operations commence. It is expected that founders stock plus option stock will not total more than 15% of authorized shares. Initial seed capital is to be attracted via a convertible debenture sold by Private Placement. This round of funding will have premium conversion privileges vs. later rounds and bridge capital.

Withstanding the Challenge of Transnational Network in the System of Education

Introduction: Back to Where It All Started In the course of the past few decades, people have been trying to make the distance between states and cultures as less noticeable as possible; an obvious result of globalization, the given phenomenon has also touched upon the specifics of the British education. In the 7th Chapter of the book by Tim Dunne, Milya Kurki Steve Smith, the former argues against Bulls’ opinion that â€Å"there is no escape from values.†1Advertising We will write a custom essay sample on Withstanding the Challenge of Transnational Network in the System of Education specifically for you for only $16.05 $11/page Learn More Claiming that shared values are the only thing which the modern world should strive for for the sake of science development, Dune does not take into account that the integration which is currently taking place between the English schools and the schools from the rest of the world is a natural process whi ch is bound to bring to fruitful results. Escape from Values as a Possible Threat: There Is a Reason to Shatter the Existing Rules According to Dunn, the idea that â€Å"Values will inform the selection of topics to Be studied, and the writings and statements of academics will in turn have an impact on the political process†2 is absolutely insane. Hence, Dunn explained, comes the weakest point of Bull’s argument, for the values within certain fields are completely independent and cannot impact one another. However, when rethinking the idea which Bull offered, one can possibly argue that there can be a grain of truth in Bull’s speculations. What Holds the Values Together: Stronger Than They Might Seem However, when it comes to taking a more critical look at Bull’s theory and Dunn’s counterarguments, one must admit that the relations between the world politics and science seem way too far-fetched. Indeed, as Dunn emphasizes, â€Å"the enforcement of human rights principles risked undermining international order†3 does not have anything to do with reality. As a matter of fact, Bull makes rather bold statement claiming that the human rights reinforcement can affect the international order negatively, which Dunn points out in his analysis. Thus, with the help of Dunn’s argument, one can see clearly that national order is far stronger than it may seem and that sharing scientific data worldwide will not harm it in any possible way. A Danger or an Opportunity? English School Needs Reorganization According to Dunn, the idea of shared knowledge does not imply any political context and presupposes rather building stronger cultural and scholarly ties between the countries of the world than crashing the traditional values of the English school.Advertising Looking for essay on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More Dunn makes it obvious that Bullâ€⠄¢s theory need serious reconsideration, for it is rather out of date from the modern world and its constant changes: â€Å"In our globalized world, the dynamics of governance outstrip these traditional English school categories.†4 Conclusion: The Established Values as the Three Pillars of Education: English School and Changes Therefore, it is obvious that the idea of values exchange as something that can lead to serious political conflicts is less than implausible; to be more exact, it is straight ridiculous. With the help of shared facts, information and knowledge, people will be able to provide a variety of innovations, which would be hardly possible if shared knowledge was considered inappropriate. Bibliography Dunne, Tim. â€Å"The English School.† In International Relations Theories: Discipline and  Diversity, edited by Tim Dunne, Milya Kurki Steve Smith, 135-155. Oxford, UK: Oxford University Press, 2007. Footnotes 1. Tim Dunne, â€Å"The English School† in International Relations Theories: Discipline and Diversity, edited by Tim Dunne, Milya Kurki Steve Smith (Oxford, UK: Oxford University Press, 2007), 139. 2 Tim Dunne, â€Å"The English School† in International Relations Theories: Discipline and Diversity, edited by Tim Dunne, Milya Kurki Steve Smith (Oxford, UK: Oxford University Press, 2007), 139. 3Tim Dunne, â€Å"The English School† in International Relations Theories: Discipline and Diversity, edited by Tim Dunne, Milya Kurki Steve Smith (Oxford, UK: Oxford University Press, 2007), 146. 4 Tim Dunne, â€Å"The English School† in International Relations Theories: Discipline and Diversity, edited by Tim Dunne, Milya Kurki Steve Smith (Oxford, UK: Oxford University Press, 2007), 147.Advertising We will write a custom essay sample on Withstanding the Challenge of Transnational Network in the System of Education specifically for you for only $16.05 $11/page Learn More This essay on Withstanding the Challenge of Transnational Network in the System of Education was written and submitted by user Aaden Combs to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Sample Essay on Balance Between Work and School

Sample Essay on Balance Between Work and SchoolA sample essay on balance between work and school could be a very useful tool to have in your college application. A proper balance of these two forms of study is necessary for successful college or university endeavors.If you have trouble dealing with your responsibilities at home, it can lead to an imbalance of balance between home and the workplace. Your classmates will observe this and remember how difficult it is to balance. This is why you need to use a sample essay on balance between work and school.Although your writing sample could be simple, you should still have it prepared. You might need to rewrite your essay several times, especially if it is not original. You can just take the portions that seem to sound good. It would be much better if you bring some of your writing samples with you when you apply.A sample essay on balance between work and school could also include your college choices. While your family situation will re main the same throughout the application process, you will be exposed to different universities from different countries. Your academic studies will determine which one you choose.Sometimes, it is easier to balance a work school with a life at home. If you have your own car, you might feel free to use it to go out for a meal or a trip. But, if you are someone who only owns public transportation, you might need to adjust your family life to fit your schedule.You must know that there are certain things that are very important in your life. In the essay, you will be addressing your lifestyle. You should also make sure that you write about your reasons for choosing a certain school or university.Balance between work and school can also mean balancing your professional and personal life. You should always use your writing samples to make sure that you do not miss a single thing. If you have a common situation, you can adapt it to your school or career.You should not underestimate how imp ortant balance between your school and work is. It could be the difference between succeeding or failing. A sample essay on balance between work and school is essential to you.

Wgu Fin Analysis Task free essay sample

In order to ascertain how well a company is performing, analyses must be done in regard to the business being stable, including its’ ability to pay debts, how much cash or other liquid assets are available, and whether the organization is viable enough to continue operations. These analyses typically look at income statements, balance sheets, and statements of cash flow, where current and past performance will be studied with the goal of predicting how the company will perform in the future. There are four ways in which the Competition Bikes will be evaluated. First, we will look at a horizontal analysis. This is a comparative study of a balance sheet or income statement for two or more accounting periods, to compute both total and relative variances for each line item. (businessdictionary. com) Second, the company will be judged based on a vertical analysis. This is done by way of financial statement analysis in which each entry for the three major categories of accounts assets, liabilities and equities in a balance sheet, is represented as a proportion of the total account. We will write a custom essay sample on Wgu Fin Analysis Task or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page (investopedia. com) The third method we will use to evaluate the bike company is through trend analysis. This type of analysis is often employed to identify current and future movements of an investment or group of investments, and may involve comparing past and current financial ratios as they relate to various institutions in order to project how long the current trend will continue. (wisegeek. com) And last, a ratio analysis will be studied by looking at the broad method by which financial data is converted into simple mathematic ratios for comparison. (ratioanalysis. org) Horizontal Analysis When looking at Competition Bikes Inc, we will be comparing their sixth and seventh years, and then their seventh and eighth years. This will allow us to gauge the performance over a significant period of time to see if the organization’s business is rising, staying steady or falling. For example, if net sales were ten thousand dollars in year one, and eleven thousand dollars in year two, this would be seen as a ten percent increase. Using the horizontal analysis worksheet, we see that Competition Bikes realized an increase in net sales between years six and seven by over thirty percent. This was followed in years seven and eight by a decline of fifteen percent. While the net sales in year eight were better (+13%) than year six, sales did fall from the previous year. Another key indicator to look at is gross profits, where the difference between net sales and the cost of goods sold is calculated. In our case, for years six and seven we see an increase of over thirty seven percent, but a decrease of over sixteen percent between years seven and eight. This could be caused by either selling less, through an increase in the cost of goods sold, or a combination of the two. One very important aspect when examining how any business is able to make and sustain profitability is the operating cycle. This looks at how quickly a company is turning over their receivables, inventory and payables. By lowering the operating cycle, businesses are able to manage their assets more efficiently. Using figures derived from days inventory outstanding, days sales outstanding and days payable outstanding, a business can determine how long inventory is staying in the pipeline, and how long it is taking to sell and collect payment on that inventory. This is done by finding the cost of goods sold (from income statement) and dividing by 365, which will yield the sales per day. Then determining the average inventory (from balance sheet) by adding previous inventory plus ending inventory and dividing by 2, and finally, taking the result of the average inventory and dividing by the cost of sales per day. For Competition Bikes this results in a figure that shows a decrease over the course of two years. Lower is better, and clearly signals that sales are increasing in comparison to inventory. Another promising sign is the cash conversion cycle. This is a metric expressing the time (in days) that it takes a business to translate resources into cash. In this case it calculates out to a lessening conversion cycle, which points to asset liquidity through a short receivables time span with a long payables period. This is another sign that Competition Bikes is efficiently managing its’ resources. Lets take a look at the expenses listed under â€Å"general and administrative† on the horizontal analysis worksheet. These particular expenses are costs a business incurs when performing normal operations. For years six and seven there was an increase of a little over 20%, or approximately 156 thousand dollars. Then in years seven and eight there was another slight increase. In order to maintain consistent or increased profits without raising prices and/or selling into new markets in order to increase sales figures, a business would have to cut expenses. Next comes â€Å"operating income†, which is revenues minus operating expenses, and generally referred to as EBIT, or earnings before income and taxes. In other words, this is a measurement of a company’s profits before all relevant deductions have been made. In our case, there was a significant increase of nearly 155 percent from year six to seven, and then another increase of over 60 percent in year seven to eight. The net earnings of Competition Bikes is up well over 300 percent for the first years of comparison, but declined over 80 percent between year seven and eight. This clearly indicates that factors have changed during the last two years that are directly impacting the bottom line of the business. Moving on to company assets, the â€Å"cash and cash equivalents† portion of the income statement shows a decrease of nearly 55 percent on a decline of over 142 thousand dollars, but during the year seven and eight horizontal analysis there was a significant increase in cash assets by almost 350 percent. These are assets that are cash, or can be readily converted into cash. Balance that with the â€Å"total liabilities† which is the combination of all debt Competition Bikes is liable for. As can be seen on the worksheet, the liabilities increased a small amount from year six to seven, but decreased over the next two years. Increasing assets and decreasing liabilities of any company means the long-term sustainability is good. And last, we look at stockholder’s equity. This refers to how much capital investors have put into the business. In other words, this should represent positive differences between assets and liabilities. For Competition Bikes, from year six to seven this margin increased by a little over 3 percent, or approximately 70 thousand dollars. While slightly increasing, investors prefer to see a larger gain. Between years seven and eight the equity increased by almost one and a half percent. While not a large increase, at least this was a step in the right direction. Vertical analysis Through a vertical analysis, we can take a look at entries for assets, liabilities and equities. These are represented as a proportion, or percentage of the totals for any given year. The main advantage of a vertical analysis is that it is easy to read, clearly understandable and charts changes in the operations of a business on a yearly basis. By looking at a vertical analysis a person can see financial performance over a period of time. Lets start by looking on the revenue side. By calculating what the relationship is between net sales less cost of goods sold, we can see that our gross profits are remaining steady at roughly 27 percent. In other words, the cost of goods sold is approximately three quarters of the amount of net sales. These two measurements would probably be considered the best barometer of how efficiently a company is operating. Likewise, when we consider the operating expenses for selling products and running the company, we see that they are relatively steady with only a slight fluctuation of a few percentage points either up or down, with all the variation coming from differences in general and administrative expenses. Given the minor fluctuation of expenses over time, there seems to be a good internal control system in place. This holds costs in check while being able to concentrate on sales. Generally, the percentage of â€Å"total liabilities† has been declining over the three years shown. This represents the company’s ability to retire debt, and as the worksheet shows, the proportion of total stockholder equity has been holding steady as well. By holding the line on expenses, retiring debt and maintaining stockholder equity. Competition Bikes has been able to operate in a very efficient manner, while growing the company’s assets at a rate of 5 to 6 percent per year. Trend analysis The goal of performing trend analysis is to collect information over a period of time, and to use that data to spot a pattern, or trend. Under this scenario of comparative analysis, the finances of a company are evaluated over in order to predict future potential based on past performance. When we look at Competition Bikes historical data for net sales, there is a year over year gain, with the exception of year 8. To start, from year 6 to year 7 there was a significant uptick in sales by a little over 33 percent. While net sales declined in year eight by approximately 17 percent from the previous year, they still represented a gain over year 6. For each subsequent year following the eighth, there should be a steady rise in sales. Because there is very little change in expenses, even though sales dropped off, the profitability of the company remained strong. This trend is predicted to hold through the remainder of years 9 through 11. Given the steadily increasing sales, the company would be attractive to investors looking for steady but reliable future growth. While sales are rising slowly, the net income continues to see increases that are in tandem. Ratio analysis Ratio analysis is the conversion of financial data into simple math ratios in order to use for comparing with other, similar businesses. Data from past years that is widely available through public financial statements can be analyzed and compared to other organizations, and the results of these comparisons can provide vital information when making decisions. For the case of Competition Bikes, I will be using four different metrics to calculate the financial well being of a company. They are liquidity ratio, debt to equity ratio, return on equity ratio and net profit margin ratio. There are three types of liquidity ratios that we will look at. The current ratio is considered to be a barometer of a company’s liquidity, and shows the relationship between working capital and its availability to meet present obligations. It is calculated by doing the following: current assets ? current liabilities Competition Bikes, Inc. Year 6 1,029,303/105,080= 9. 8 Year 7 1,353,044/233,700= 5. 8 Year 8 1,575,831/300,200= 5. 2 The current ratio of Competition Bikes is decreasing slightly over the three-year period shown, but the ratio that is commonly thought to be acceptable would be anything above 2, and higher current ratios are always better. Since these ratios calculated out to well above that figure, this business would have no problem meeting its short-term debts. Next, another type of liquidity ratio is the quick ratio or acid test. This is used to measure the liquidity of a company, and its ability to meet financial obligations. The quick ratio is used to determine a company’s financial strength or weakness, where higher numbers mean there is a stronger probability, while lesser numbers mean weaker probability, of ability to pay off short-term debt. Quick ratios are calculated as follows: (current assets – inventories) ? urrent liabilities Competition Bikes, Inc. Year 6 1,029,303 – 203,300 = 826,003/105,080 = 7. 85 Year 7 1,353,044 – 219,068 = 1133976/233,700 = 4. 84 Year 8 1,575,831 – 221833 = 1353998/300,200 = 4. 5 The quick ratio is an indicator of a companys short-term liquidity. It measures the companys  capacity to meet  its short-term debts with  the most liquid of asse ts, but is more conservative than the current ratio because it excludes the inventory. This is done for the reason that companies may have difficulty converting inventory into cash should an immediate need arise. The higher the quick ratio,  the  better the position of the  company, where a value of less than 1 may mean the business might have difficulty meeting its short term obligations. While Competition Bikes has a declining ration, it is still well above what is commonly considered acceptable. This points to their ability to pay their short-term debt. The last type of liquidity ratio is the cash ratio. This ratio is generally the most conservative calculation of liquid assets because it removes inventory and accounts receivable from the equation, and is the best measurement of a company’s liquidity. By using this ratio, it is possible to determine if a business can pay off its short-term debt. Typically this is the measurement that will be used by creditors to determine how much credit they would be willing to extend, and is simply the ratio of  a cash assets to current liabilities. Cash ratios are calculated as follows: cash + short term investments/current liabilities Competition Bikes, Inc. Year 6 261,000 + 198,500 = 459500/105,080 = 4. 37 Year 7 92,376 + 220,000 = 312376/233,700 = 1. 34 Year 8 414,038 + 220000 = 634038/300,200 = 2. 1 The cash ratio is a further refinement of quick and current ratios, and ndicates a companys liquidity. This is done through the measurement of cash on hand, cash equivalents and short-term investments in relationship to current liabilities. Cash ratios are the most conservative of the liquidity ratios because it only looks at the assets that are highly liquid. It is unusual for companies to have the cash on hand to cover all current liabilitie s, and these ratios are generally lower than other measures of liquidity. When compiling financial reports, these ratios are not used very often because it is realistic for a company to maintain the levels of cash necessary to pay off all current liabilities. It is generally accepted that businesses do not hold large amounts of cash. Competition Bikes has a very good cash ratio, and while it had declined from year 6 to year 7, the ratio has improved in year 8. This company is highly liquid. A  class of financial metrics that are used to assess a businesss ability to generate  earnings as compared to  its expenses and other relevant costs incurred during a specific period of time. For most of these ratios, having a higher value relative to a competitors ratio or the  same ratio from a previous period is indicative that the company is doing well. The debt-to-equity ratio is a measurement of how much a companys creditors have committed versus what the shareholders have committed. This ratio is calculated by dividing  total liabilities  by  stockholders equity, and indicates what proportion of equity and debt the company is using to finance its assets. Debt-to-equity is calculated as follows: total liabilities ? shareholders’ equity Competition Bikes, Inc. Year 6 1,995,080/2,204,223 = . 905 Year 7 2,018,700/2,274,344 = . 887 Year 8 1,980,200/2,305,631 = . 858 The debt-to-equity ratio is a key financial analysis ratio that is used to evaluate a companys financial standing by measuring their ability to repay debts. The optimal debt-to-equity ratio should be about 1, where liabilities are equal to equity. However, these ratios can be tied to particular industries, where companies with more long-term investments have higher ratios. If the debt-to-equity ratio is increasing, creditors are financing the company. This is not the preferred situation in regard to both lenders and investors, because less debt to creditors means interests are better protected in the event of a business decline. Typically, having a high debt-to-equity ratio means not being able to draw additional lending. The lower the debt-to-equity ratio, the better. Competition Bikes debt-to-equity ratio is very good, and has held fairly steady over the three-year analysis period. This demonstrates that the company relies on shareholder equity to do their financing, rather than through loans. These factors point to minimal long-term borrowing needs, meaning the business doesn’t use long-term debt to finance its operation. Maintaining a low ratio is the usual approach, because future solvency is not impacted. The return on equity ratio indicates the returns, by way of net profits, to the shareholders of the company, and is measured as a percentage of shareholder equity. This ratio measures how much  profit a company is able to generate  with money that shareholders have invested, as opposed to what creditors have loaned a business. It is also a useful ratio at determining success with managing resources, and is especially useful for privately owned businesses that have no easy way of determining the market value of owners’ equity. Return on equity ratios are calculated as follows: net income ? shareholders’ equity Competition Bikes, Inc. Year 6 41,148/2,204,223 = . 0186 or approximately 1. 8% Year 7 170,121/2274344 = . 0748 or approximately 7. 5% Year 8 31,286/2,305,631 = . 0135 or approximately 1. 3% The ratio of return on equity from year 6 to 7 improved substantially through the realization of a large gain in net income, while at the same time having shareholder equity remain largely unchanged. Then from year 7 to 8 the ratio nosedived to below what is was in the first year of comparison. This declination in ratio is indicative of the inability of the company to make profits with the investments made by its shareholders. The company seems to be trending downward, and is unable to produce sufficient earnings for its investors. There are many analysts that view return on equity to be the most important ratio for stockholders to look at, and is indicative of how well a company’s management is performing. Lower numbers mean Competition Bikes may not be spending wisely, and is not very profitable. The net profit margin is a ratio measuring the profits of a company, and is used to measure how well a company controls costs. This calculation refers to money left for the owners, after all sales, expenses and taxes are paid. Higher net profits mean the company is more effective at translating sales into actual profit. Net profit margins may also provide clues into a companys pricing policies, costs and efficiency of production. This ratio is useful in looking at performance over a period of time. It is calculated as: net profit ? net sales Competition Bikes, Inc. Year 6 41,148/1,191,000 = . 0345 or approximately 3. 4% Year 7 170,121/5,980,000 = . 0284 or approximately 2. 8% Year 8 1,286/5,083,000 = . 006 or approximately . 6% In looking at these net profit margins over the course of three years, Competition Bikes is in a severe decline. While the drop off between year 6 and 7 was only a little more than half of one percent, going from year 7 to 8 showed well over 2 percent less. This means the company is not efficient with in controlling costs, and must get a handle on their expenditures. The rise in costs could be attributed to raw materials costing more, rising salaries, declining sales or lowered sales prices due to competition. The bike company needs to gets its costs under control if it expects to survive. Working Capital Working capital is the amount of current or liquid assets a company has, after subtracting its current liabilities. Working capital is sometimes called operating capital, and is a valuation of liquidity the organization has to run and build their business. In general, companies with greater amounts of working capital are better able to achieve success by utilizing their assets to invest back into the business. While a business may have a large amount of assets, it may be very difficult to convert them into cash in order to take advantage of opportunities that require fast action. If current liabilities are more than current assets, a working capital deficit is created, and a business cannot survive for long when in this situation. The calculation is as follows: current assets – current liabilities Competition Bikes, Inc. Year 6 1,029,303 – 105,080 = 924,223 Year 7 1,353,044 – 233,700 = 1,119,344 Year 8 1,575,831 – 300,200 = 1,275,631 The working capital of year six was 924,223, with year seven posting a gain up to 1,119,344. This was again increased in the year eight results at a total of 1,275,631. This equates to an increase from year 6 to 7 of over 21%, and another increase from year 7 to 8 of approximately14%. The rising amounts in working capital demonstrate that the company has been steadily increasing their working capital during the three-year period. The consistent rise in available liquid assets confirms that the business has sufficient working capital to make advances in creating more profits. There are several ways in which to improve the working capital. Since more profit and/or more cash on hand equates to more working capital, steps should first be undertaken to increase profit through reduction in expenses. This could be accomplished by systematically auditing all processes and procedures of the business and streamlining wherever possible. Second, by issuing more stock, the company could increase their available working capital. Third, replacing short-term debt by converting to long-term debt would lessen the amount of current liabilities, and free up funds to invest in something else. Four, by converting all non-cash liquid assets into cash, the organization could make available, additional funds to spend. And last, by speeding up the accounts receivables cycle, and collecting money more quickly, the business would be able to have this money in hand. By maintaining a positive working capital the business would be able to undertake initiatives to improve their profitability. These liquid assets could be used to increase production, hire more employees, purchase other businesses, or expand the operations into additional buildings in order to accommodate an increase in orders. By spending money on the â€Å"latest and greatest† equipment in order to increase efficiency you will realize more productivity from workers. This can include things such as better computer systems that are able to automate the sales process, as well as manufacturing equipment that has a higher production capability. Growing a business can be done in many ways, but the easiest ways are by spending money in order to make money. One method is to increase the number of new clients by hiring more salespeople that can cover more territory. Another way is to increase the amount billed for each transaction, by offering sales incentives. And last, you can use marketing dollars to increase the frequency at which purchases are made by way of repeat business. Purchasing system evaluation Every business must have internal controls in place to create a system of checks and balances that safeguard company assets and resources. These controls include things such as audits, reviews and procedures, all of which are designed to allow the organization to conduct business in an orderly and efficient manner. These controls also serve to deter and detect errors, prevent theft/fraud and promote accuracy of the accounting data. In the end, the business must be able to produce up-to-date and reliable information that is readily accessible to those making business and financial decisions. Competition Bikes has a few internal purchasing controls in place that are designed to streamline their ordering. The steps that are taken by the purchasing department when buying items for Competition Bikes are: ) Purchasing is instigated through the use of monthly budget projections 2) Purchasing gets bids from three sources for similar quality materials and selects low bidder 3)Purchasing issues a PO to chosen supplier 4) PO is sent to the supplier by purchasing on the first of projected month 5) Upon receipt of goods, materials are brought to production line for use during the month 6) Unused parts are sent to the raw materials inventory stores on last day of month 7) Purchasing sends suppliers invoice t o accounting amp; accounting writes check to pay As we can see, the company has put some checks into place when purchases are made. First, the orders are based on budget projections that mirror the amount of needed raw materials. This ties the employees doing the purchasing, to a system that can be checked for accuracy. Because there will be a record of the monthly projections and the corresponding order that was placed, there will be an audit trail that can verify validity. Next, there is a requirement of getting three bids before an order can be placed. This removes the temptation of doing underhanded deals with a particular vendor. Then, as materials are received the items are delivered to the production line for use. This allows the purchasing department to check the items received against the items ordered, to make sure the order is complete before it is made available for use. At the end of the month whatever parts are left get sent to the storage area that is used for excess material. The last internal control that is in place is the accounting department being given the invoice by purchasing for final payment. This process puts in place, the appropriate oversight by the accounting department, whereby the same person(s) ordering are not writing the checks. If this were not the case, there would be potential for financial improprieties to occur. While there are some controls in place, there is a general lack of process centered around accounting for the inventory. The purchasing department buys raw materials based on the projected budget for the month. If they were to balance projected material needs against the amount of material left over from the previous month, the system would be less wasteful and more manageable. This would also allow them to keep tight reign on the already purchased materials inventory by carrying the remaining inventory forward. Then the company would be able to save money by reducing the material in storage, eliminating the need for storage space and buying things as the need arises. In addition, there is no procedure for signing off on receiving material, getting approval to move material to storage at the end of the month or for signing in order to have the invoice paid. There should be a method creates a paper trail over the entire course of tracking the purchases. I recommend the following course of action: 1) Purchasing is instigated through the use of monthly budget projections 2) The required amount based on projected budget is checked against the leftover inventory on the production run 3) The amount of materials left in inventory should be used to reduce the new order 4) Purchasing gets bids from three sources for similar quality materials and selects low bidder 5)Purchasing issues a PO to chosen supplier ) Supervisor checks work of the procurement clerk and signs off on order 7) PO is sent to chosen supplier by purchasing, on the first of projected month 8) Upon receipt, materials received are compared against the order and a supervisor validates what was purchased/received 9) If correct, order is taken to production floor for use 10) Purchasing sends invoice to accounting department to write check to pay 11) Accounting supervisor gives OK fo r invoice to be paid 12) Cycle begins all over the next month by taking inventory of what still remains on the production floor. There are several risks at play in light of the company’s internal controls. First, since there are no procedures in place for managing the inventory, the company is opening itself up to the possibility of theft. Once the raw materials leave the purchasing department and get taken to the production floor, there is no way to account for what has been used. Then, at the end of the month when the left over parts are taken to inventory storage there is no way to determine exactly what is left. Another area of risk is the lack of approval process, and no supervisors being given the ultimate responsibility for creating checks throughout the process. In conjunction with this same area of threat, there is no system in place for accounting to cross check the purchases before they receive the invoice. If the accounting department was required to sign off on the order before it went out, they would be able to provide another check to see if budget lined up to orders, and carried through to the invoice being paid. Sarbanes-Oxley compliance Back in 2002 the federal legislators felt they needed to act in the wake of the Enron and Worldcom debacles. These two companies were caught falsifying their accounting records to cover up misdeeds. Because the falsified information was published in the balance sheets, income statements and annual reports, people invested their money and lost millions of dollars. The resulting action was creation of the Sarbanes-Oxley Act (SOX) that is administered by the Securities and Exchange Commission. This was a piece of legislation that was designed to protect shareholders and the general public from errors in accounting and unscrupulous financial practices. The act provided rules and requirements for the retention and storage of electronic documents. These rules impact the financial side of companies, as well as IT departments that are charged with storage of electronic records. This act specifies that electronic records and electronic messages must be saved for at least five years. There are three rules associated with SOX. The first rule makes it a crime to alter, destroy or falsify records or documents. Second, this legislation lays out rules for accountants performing audits. When auditing a company that issues securities through the SEC, all paperwork that is produced during the audit must be retained for five years. And last, the act specifies the type of documents that must be stored. This includes any audit related documents, electronic communications created or received during the course of an audit and any financial data. In regard to Competition Bikes and its compliance with SOX, the company believes they are adequately addressing the requirements of the legislation. However, there has been an audit finding that points out the possibility of â€Å"material misstatement† on the company’s annual or interim financial reports. In short, this means there is the chance that false information is reported in the financial statements. This could be either accidental or intentional, but could impact the company’s stock prices. Based on the available information, this is possible because of the lax control over the materials inventory. There exists a loophole in the purchasing process whereby at the end of each month the remaining production materials inventory is sent to storage without accounting for what has been used. This opens up the company to theft of materials without even knowing something has been taken. Another area that is problematic is not having a system of checks and balances in place when creating orders and paying for them. The purchasing department does the buying without getting higher-level approval, and the accounting department pays the bills strictly on the authority of the purchasing people. This leaves the door open for fraudulent purchases because no one is overseeing what is being bought, and nobody is checking to see if the inventory has been received. Competition Bikes should put some procedures in place that more tightly control the purchasing and inventory of materials. One that controls how much gets ordered, who oversees the process, and how the vendors get paid once the products arrive. First, the purchasing department should account for any remaining inventory at the end of the month and only purchase additional materials that are needed. The current practice has materials being put into storage at the end of each month without being inventoried, with complete replacements being ordered based on projected needs. By scrutinizing raw materials, and how they get purchased, overspending and theft opportunities are alleviated. Second, before orders are placed, a single responsible party needs to sign off on all purchases, thus creating a system of checks and balances. Third, the accounting department needs to be involved in the receiving/inventorying in order to maintain oversight of products and the associated payments. And last, the accounting and purchasing departments need to work collaboratively in order to create oversight of each purchasing/inventory/payment process. By having the separate departments involved in each step along the purchasing process, the opportunity for improprieties to exist is greatly lessened. References Horizontal Analysis: Definition (n. d. ) In businessdictionary. om Retrieved February 24, 2013, from http://www. businessdictionary. com/definition/horizontal-analysis. html Vertical Analysis: Definition (n. d. ) In investopedia. com Retrieved February 24, 2013, from http://www. investopedia. com/terms/v/vertical_analysis. asp Trend Analysis: Definition (n. d. ) In wisegeek. com Retrieved February 25, 2013, from http://www. wisegeek. com/what-is-trend-analysis. htm Ratio Analysis: Definition (n. d. ) In ratioanalysis. org Retrieved February 25, 2013, from http://www. ratioanalysis. org/