Financial Statements Of Aramex And Air Arabia Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2804 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? The present report is to compare the financial statements of Air-Arabia and ARAMEX both in the transportation sector. In this report, comparison of liquidity ratios, debt management ratios, asset management ratios and the profitability ratios of these two companies. At first, the above mentioned ratios for each of the firms are calculated and then, a comparative study is made between these two companies ratios and analysis is done to find out the different aspects of the companies financial position. Liquidity ratios which deal with the ability of the firm to meet its current obligations are: Current Ratio, Quick Ratio, Cash Ratio, Interval Measure and Net Working Capital Ratio. Don’t waste time! Our writers will create an original "Financial Statements Of Aramex And Air Arabia Finance Essay" essay for you Create order The long term solvency of a company is determined by the Debt Management ratios. This is done by finding out the amount to which a firm uses the long-term debt as its source of financing. These ratios are: Debt Ratio, Debt-Equity Ratio, and Equity Multiplier ratio. The Asset Management ratios are used by analysts to find out how fast the company can convert its resources into sales or cash. The asset management ratios are: Days Sales Outstanding, Fixed Asset Earnings Ratio, Inventory Turnover Ratio and Total Assets Turnover Ratio. Profitability ratios are helpful in determining and evaluating the efficiency of the firm in terms of the profits earned. The profitability ratios are: Net Profit Margin, Gross Profit Margin, Operating Expense ratio, Return on Investment, Return on equity, Earnings per share. Each of these ratios is useful to each of the parties related to the firm, viz. Lenders creditors, Shareholders, Employees, Management, and Financial Analysts. RATIOS relating to AIR-ARABIA: LIQUIDITY RATIOS: Current Ratio: This ratio measures the short-term solvency of a firm. This is obtained by dividing the current assets of any firm with the current liabilities. Current Ratio = For the present chosen firm, the current ratio upon calculation is 4.1179. This ratio is meant to be satisfactory 2 to 1 or more. As mentioned above, the ratio shows the short-term solvency of the company. The company in terms of current ratio is very liquid. This margin represents the margin of security for the creditors, more the ratio, higher is the security margin. This doesnt mean that the firm is performing better; even a firm with less than the satisfactory level may perform better than the one with a higher number. Quick Ratio: This ratio represents the ability of the firm to convert its asset into cash i.e. how fast the firm can change its assets into liquid assets (cash) is shown by this ratio. Quick Ratio = This ratio for the firm when calculated is 4.10889. This shows that the firm is satisfactory as the firm has a value of more than 1 to 1. And this implies that the firms inventories are sold and the companys obligations are met well because the firm has more cash convertible assets per each current liability, 4.10899:1. A company may even perform well with low Quick Ratio if it turns its inventories effectively and pays its obligations faster. Cash Ratio: This is another ratio for indicating the ready availability of cash with the company and relating it to the current liabilities of the firm. Even if the cash is less, it should not be a problem if the firm has a sound reserve borrowing capability. Cash Ratio = While cash available for the firm is 1,996,251,000 AEDs, the firm doesnt have any marketable securities as per the report. After calculating this ratio by substituting the values in the formula, the ratio is 3.5842. This firm carries 358.42% of cash with it available. This may showcase an impression that the firm has more than enough of the readily available cash which may be a threat to the growth of the firm because money ideal is money wasted, it wont yield anything. Interval Measure: This is also a ratio which measures the ability of the firm to meet its regular cash expenditures. In this formula, a relation is established between liquid assets to the cash outflows operating daily. The latter figure is equal to administrative expenses plus cost for selling goods plus general expenses minus depreciation and other kinds of non-cash expenditures and the whole is divided by 365 (number of days in a year). The formula for calculating this ratio is as below: Interval Measure = The operating expenses are 1125053, this figure should be divided by 309 months, as indicated in the report; the income statement is for 9 months. Hence, upon calculation, average operating expenditure per day is 4537.2333. The interval measure when calculated is 504.373 days. This means that the firm has liquid assets sufficient for 504.373 days to continue its operations. Ratio of Net Working Capital: This is yet another ratio that depicts the liquidity position of the firm. This ratio establishes a relationship between Net Working Capital and the Net Assets. The larger the Net Working Capital is, the better the company can meet its current obligations. The Net Working Capital is obtained after differentiating Current Liabilities from Current Assets excluding the short-term borrowings from banks. The formula is: NWC Ratio = The sum of fixed assets, current assets minus current liabilities gives Net Assets. After calculation, the values of NWC and Net Assets are 1736560 and 5514545 respectively. The ratio hence is .3149. This implies that the firm .3149 of the NWC can be used to fund one asset of the firm. DEBT MANAGEMENT RATIOS: Debt Ratio: If the firm wants to find out the ratio of interest-bearing debt that is there in the capital structure of the firm, this ratio helps the firm to calculate it. The debt ratio is obtained by dividing the total debt with the capital employed also called the net assets. Total debt includes in itself all the borrowings made by the firm viz. short-term as well as long-term. The formula for calculating the debt ratio is As per the financial report of the company, no debt was taken by the firm and hence the debt ratio is zero. This implies that all the projects are financed by owners capital. Debt-Equity Ratio: This is the ratio of the total amount of debt taken by the firm in the form of borrowings and net worth of the firm. The formula is as below: Debt-Equity Ratio = As discussed earlier, all the finances for the firm are made through owners capital and hence, even this ratio is zero. Equity Multiplier: This is used to determine the firms capability of using the debt in order to purchase any asset. This ratio is given by: Equity Multiplier = This gives a relationship between the total assets (current and non-current assets) of a firm and the shareholders equity. The total assets of the firm are of worth 6,071,498,000 AED. The shareholders equity is 4,666,700,000 AED. Hence, the ratio is 1.301025 and it implies that 130.1% of assets are funded by 100% of the shareholders equity. ASSET MANAGEMENT: Days Sales Outstanding: This gives relationship between the accounts receivable and the average total credit sales made by the firm. This is a measure of the average number of days taken by a firm for collecting the revenue after it sells its goods or services. The formula for calculating this ratio is: DSO = If in case the total credit sales figure is not mentioned, the sales figure is taken as total credit sales. Hence, the Accounts Receivable is sum of Trade and other Receivables and Due from related parties which is 292,211,000 AED and total sales is 1,469,179,000 AED, number of days being 270 (9 months x 30 days). The Days Sales Outstanding is 53.7014. Hence, the firm takes on an average 53 days to collect the debt given on sales of one unit of a good or for service being provided. Turnover Ratio for Net assets: This ratio gives a relationship between the total sales made and the Net assets owned by the firm. The formula is Net Assets Turnover Ratio = The Net assets are of value 1,736,560,000 AED and the Sales are of worth 1,469,179,000 AED. The ratio upon calculating gives .8460. This indicates that AED .846 worth sales is made by the company for one AED of capital employed. This shows the firm is not utilizing its resources properly and the production is at stake. Inventory Turnover Ratio: This shows the efficiency of the company in selling and producing its goods or products. This establishes a relationship between the cost of goods sold made by the firm and the average inventory. In case if the opening and closing inventory details are not given, value amount of goods in the inventory can be taken as average inventory. Inventory turnover = The ratio upon calculation is 231.86 and this says that the firm turns its inventory of finished products or services 231.86 times a year. This indicates that the sales of the company are in a good trend. Total Asset turnover ratio: The ability of the company to generate sales from all the financial resources dedicated to the total assets is shown by this ratio. Total Assets Turnover Ratio = The ratio is .2419. This ratio after calculating shows that the .2419 AED of sales is made for investing one AED in both fixed and current assets. PROFITABILITY RATIOS: Gross Profit Margin: This ratio relates the gross profit with the sales made. Gross profit is sales minus cost of goods sold. The difference between the sales revenue and COGS i.e. gross profit is 298,053,000 AED. The formula for calculating GPM is: Gross Profit Margin = Hence the ratio between gross profit and sales is .20287. This shows the efficiency with which the management manufactures each unit of a product or provides a unit of service. Net Profit Margin: Similar to the gross profit margin, the net profit margin is calculated by dividing the net profit with the sales. To get more insight about the firms efficiency in producing goods or providing services to the customers. The ratio is: Net Profit Margin = The ratio is .264677. This shows the managements efficiency in manufacturing, administrating and selling the products. Operating Expenses Ratio: It explains the relationship between Expenses made for operation of the firm and sales made by the firm. This explains how the profit margin changes with sales. Operating expenses is the sum of COGS, selling and general administrative expenses. Operating Expenses Ratio = The ratio is 85.437% which shows that 85% of the sales have been consumed by the operating expenses. Return on Investment: This shows the ratio between EBI (Earnings before Interest) and total amount of investment made. Hence ROI is: ROI = This ratio is .64046 and this indicates that the firm gains 64.046% upon investing 100% of funds. Return on Equity: This differs from the ROI in the sense that while ROI shows the efficiency of investment made by both lenders and owners, the ROE helps to calculate how effectively the owners equity is used. ROE = The ratio is .07111 which implies that the firm has used only 7.111% of the owners funds. RATIOS relating to ARAMEX: As the significance and formulas for different ratios were indicated in the earlier section, this part is dealt only with the results and the interpretation that can be made. LIQUIDITY RATIOS: Current Ratio: The current ratio for this firm is 2.5535; this indicates that the liquidity position of the firm is strong as it is greater than 2. Quick Ratio: There is no detail mentioned about the inventory and hence the current ratio and the quick ratio are the same for this firm. This also states that the short-term solvency of the firm is sound. Cash Ratio: This ratio is 1.3663 which indicates that the firm has enough cash at hand to pay its current obligations. Interval Measure: The total operating expenses is 1,297,242 which when divided by 365 days gives the average operating expenses as 3554.0876. Finally, upon calculating, the value of this ratio is 263.8981. This means the firm has enough liquid assets to fund its operations for the above mentioned number of days. Net Working Capital Ratio: The net working capital for this firm is 570611 (937917 367306). The net assets are of worth 1,690,916. Hence, the Net Working Capital Ratio is .33745. DEBT MANAGEMENT RATIOS: a) Debt Ratio: Unlike the above firm, this firm has taken debt and hence the debt ratio has some importance in the analysis. The total debt taken by the firm is 13,945 AED. The capital employed is 1623798 and the debt ratio is .0085878. This shows that the lenders have financed around .85878% of the net assets. b) Debt-Equity Ratio: Unlike the above firm, this firm has taken debt and hence the debt ratio has some importance in the analysis. The total debt taken by the firm is 13,945 AED. The net worth is 1371607 and the debt ratio is .010166. This shows that the lenders contribution was .010166 per each unit of contribution made by the owners. c) Equity Multiplier: This ratio indicates that the company, in order to buy 1 unit of an asset used 1.2655 of its debt. ASSET MANAGEMENT RATIOS: Days Sales Outstanding: The Company takes 64.087 days to collect the revenue after sales of a product or provision for a service is done. Net Assets Turnover Ratio: This ratio is 1.2075 which says that 1.2075 units of sales are made with 1 unit of net assets. Inventory Turnover Ratio: The inventory turnover ratio doesnt exist for this firm as the report mentions nothing about the existence of an inventory. Total Asset Turnover Ratio: A ratio of .95266 shows that the firm was able to generate .95266 unit sales with one unit of all the financial resources committed to the total assets. PROFITABILITY RATIOS: Gross Profit Margin: The gross profit margin for this company is .5651 and this shows that the firm manages the production of each unit with 56.51% efficiency. Net Profit Margin: The net profit margin is .10542 which shows that the firm was not very effective in achieving the net profit as it is only 10.542%. Operating Expenses Ratio: This ratio is .2105 which shows that the company 21.05% of sales has been consumed by the cost of goods sold and for the selling expenses and for other operating expenses. Return on Investment: This ratio is .105995. This shows that the 10AED return was received with investment of 100 AED. Return on Earnings: This is .1507 and this show that the firm uses the resources of owner with 15% efficiency. ANALYSIS and CONCLUSION Ratio Name Air Arabia ARAMEX Current Ratio 4.1179 2.5535 Quick Ratio 4.10899 Cash Ratio 3.5842 1.3663 Interval Measure 504.373 263.8981 NWC .3149 .33745 Debt Ratio .00858 Debt-Equity Ratio .010166 Equity Multiplier 1.301025 1.2655 Days Sales Outstanding 53.7014 64.087 Net Assets Turnover Ratio .8460 1.2075 Inventory Turnover Ratio 213.86 Total Asset Turnover Ratio .2419 .95266 Gross Profit Margin .20287 .5651 Net Profit Margin .264677 .10542 Operating expense Ratio .85437 .2105 Return on Investment .64046 .105995 Return on Equity .07111 .1507 Looking at the figures, the current ratio, cash ratio, the liquidity position of the firm Air-Arabia is better when compared to ARAMEX. The interval measure is also higher for the former giving strength to the fact that Air-Arabia has more liquid assets when compared to ARAMEX. The NWC ratio shows that the latter firm has more liquidity when compared to the Air-Arabia. But when looked at the ratios keenly, it can be seen that Air-Arabia has more cash readily available than ARAMEX which is a harm to the growth of the firm, this is because of the fact that ideal money creates nothing. While seeing at the leverage position of the firms, the first firm did not go for debt while the second company took debt but in a less proportion. When coming to collection of credit sales revenue, Air-Arabia collects the credit revenues faster than the ARAMEX which shows that the firm either would have lesser sales or might have a better collection period. Coming to the Asset Management ratios, the Air- Arabia has been more rapidly generate sales from the assets involved. Finally, the profitability ratios show contrary results which are expected by looking at the figures in the above ratios. This part showed that the ARAMEX was able to make more profits when compared to Air-Arabia at gross profit level but when coming to net profit, the former has a greater number, probably due to the fact that ARAMEX had to pay taxes and also due to cost of debt. Coming down, the operating expenses in case of the Air-Arabia are more when compared to ARAMEX and hence, whatever profits are made, they are not healthily used in case of Air-Arabia. The ROI and ROE, main factors in determining the profitability of any firm shows that Air-Arabia has more prospects for profits when compared to ARAMEX. Hence, it can be seen that while the liquidity position of Air-Arabia appears to be very strong, the firm still can make better utilization of the ideal cash available with it so that there would not only be a short-term growth but also a long-term growth. In every other aspect, it can be seen that Air-Arabia itself is performing well compared to ARAMEX. Even if Air- Arabia has a higher profits, most of its invested money is wasted in administrative and operating expenses, if these generate proportionate sales, the company would see a growth but if these expenses cant yield proper results, the growth of the firm may be in hurdle.

Case Study Apple Inc. - 1554 Words

Research Paper: Apple Inc. Introduction: In this research paper I would like present the strategies of the World’s most Profitable, Leading and Uniquely Recognized Company: Apple Inc. On October 5, 2011 Steve Jobs died because of Cancer. This man was a legend, he made apple to grow from the verge of bankruptcy to what it is now. After his death the new CEO Tim Cook had a challenge to maintain the success of Apple and also to take it to the next level. The company was started as Apple Computer, best known for its Macintosh PC in the 1980-90s. Despite a strong brand, rapid growth, and high profits in the late 1980s, Apple almost went bankrupt in 1996. Then Jobs played his inevitable role and transformed Apple Computer into ‘Apple Inc.’ which started making non-PC products. This made Apple the most valuable company in the world in 2012. Without any doubt Apple’s achievements were mind-blowing but the new CEO Tim knew that to be in the race and especially a winner the company needs to keep going with its innovative strategies. Critics also wondered if the company could thrive without Steve Jobs. History: Steve Wozniak and Steve Jobs formed Apple Computer in April 1976. Their creations Apple I and Apple II were successful. They began work on the Apple III, which turned out to be their very first project failure. Graphical User Interface: Lisa (Local Integrated Software Architecture) was the first PC to implement GUI technology. The Macintosh: Enhanced feature of LisaShow MoreRelatedCase Study : Apple Inc.1349 Words   |  6 Pages Case Analysis: APPLE INC.: IPODS AND ITUNES Donna Martinelli TEXAS CHRISTIAN UNIVERSITY September 3, 2014 Table of Contents Executive Summary..................................................................................................3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 Defining the Challenge...............................................................................................3 Analyzing the case data....................Read MoreCase Study : Apple Inc. Essay1422 Words   |  6 PagesCase Study: Apple Apple Inc. focuses on the design, manufacture, and marketing of personal computers, mobile phones, multimedia devices, and portable music players. 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Dear Doug 1 Free Essays

Dear Doug I am glad to hear that you are settled in and that everything is well. It is also a relief to hear that you and your roommate seem to be getting along and I hope that your friendship with Nathan will grow. I have thought about your questions and decided on some ways to help you explain, and help Nathan interpret and understand Christianity. We will write a custom essay sample on Dear Doug 1 or any similar topic only for you Order Now In my life I have experienced the same situation you mentioned about Christian terminology and what it means to be a Christian. I grew up in a Christian home under Christian principles and it had not occurred to me â€Å"why do I believe in Christianity†? Of course this did not occur to me until I was older and had thought about it for some time. I thought about this world and how it could have been created not by mere chance but by something or someone far more intelligent than mere humans, not by chance. This universe and everything in it was created with superior intelligence and for a purpose. I looked into Christianity and saw how God created the earth; a being far above humans because we were made by him; a perfect powerful all knowing being who created us in his likeness to serve a distinct purpose in this world, rather than leaving it up to mere chance. I knew there had to be a reason for this world and a good one! I looked farther into Christianity and the story of how God created the earth called the Gospel. I am sure you have heard of the Gospel and read the story, but you must take into account many things before you explain it to a non-Christian. Many non-Christians are not familiar with Christian terminology because they have not looked into Christianity and read the Bible to understand our belief, and we as Christ’s followers must explain the Gospel in a simplified way for people who are not familiar with certain Christian terminology so they can understand the concept and become more familiar with the terminology. One way you can simplify the meaning of these words is to define them and simplify them in a way that you clearly present the meaning of that word. An example would be instead of saying we are sinful people, you could say we are disobedient or you could define sin as bad behavior or actions that you commit. Use words that people use on regular bases to define a certain word, which will give them a better understanding since they already understand the correct meaning of that word to better understand any Christian terminology. You may not have known, but you have already or at least started to formulate and create your own worldview. A worldview is exactly what it sounds like, it’s the way we interpret, understand, and our opinion about the world and how we view it. A worldview is how you see the world and your opinion or idea of reality. Norman Geisler and William Watkins give a very well thought out worldview explanation and an example that may help you understand, â€Å"It is an interpretive framework through which or by which one makes sense of the data of life and the world. † A worldview is like a pair of glasses and the only way to view the world and everything in it, is through the pair of glasses, and like the prescription of glasses, everyone’s worldview is different. Now that I have given you an understanding of a worldview I will do my best to explain to you what a Christian worldview is. A Christian worldview would basically be a Christian influence on how you shape your worldview. A Christian worldview would be based on Christian principles that you’ve read and learned about in your life. How you view the world and reality would be based on Christian morals and ethics rather than a different world view based on society’s standards. A Christian worldview is typically a brighter more positive outlook on life rather than a worldview not based on Christianity; it gives you more of a purpose and reason for the questions what? , why? , and how? Your last question I also struggled with and still do from time to time. We all know that we have accepted Christ into our hearts but the greater reason is why. I have asked this question to myself many times and sometimes feel over whelmed, but there is a reason. Take a look around this world; it is full of proof and purpose. The intelligence that was required to form this world was more than mere chance but above normal human intelligence. God a supernatural being who is perfect created this earth for a purpose and with intelligent design. You yourself were made for a purpose and you yourself are far more complex to be created out of mere chance. Also the sacrifice that God made for us to have another chance even though we wronged him, beyond human means of forgiveness, it amazes me how someone could love us so much; still wanting to obtain a relationship with us. Even when we show disobedience and repetitively wrong God he will still forgive us if we truly and honestly ask for forgiveness from him. He gave us free will to make our own decisions to disobey him or to love him. I hope that this letter has assisted you in understanding your questions and I would be glad to attempt and answer more, so keep thinking and writing! I hope everything with your roommate goes well, Daniel How to cite Dear Doug 1, Essay examples

World War Two caused America to reluctantly abandon the policy of Isolationism Essay Example

World War Two caused America to reluctantly abandon the policy of Isolationism Paper I have mixed feelings about whether World War Two spelt the end of US Isolationism. I believe that to some extent this time was the least Isolationist the US had ever been, however, in my opinion American interests always focused worldwide despite some presidents isolationist foreign policies. Churchill wanted the United States involved in the war, openly seeking a fighting incident that would bring the neutral nation into the conflict. On August 4, 1941, Churchill and Roosevelt met for the first time, after corresponding for two years. The Atlantic Charter was one result of their meeting; another was the beginning of a deep personal friendship. They shared several common characteristics: both came from elite backgrounds, both were patricians, and both saw their roles as democratic noblemen. Churchill returned to England and told his War Cabinet that Roosevelt would wage war but would not declare it. The incident Churchill needed occurred on September 4, 1941, when the USS Greer, on a mail run to Iceland, was involved in a fighting incident with a German U-boat. In his subsequent address to the nation, FDR tended to distort the actual facts, using the occasion to begin unrestricted convoying and a limited, defensive naval war. Then on October 31, 1941, a German U-boat torpedoed a U.S. ship. This signaled what was to be the end of American neutrality. The bombing of Pearl Harbor in December, 1941, marked the definite end of American isolationism in practical terms. We will write a custom essay sample on World War Two caused America to reluctantly abandon the policy of Isolationism specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on World War Two caused America to reluctantly abandon the policy of Isolationism specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on World War Two caused America to reluctantly abandon the policy of Isolationism specifically for you FOR ONLY $16.38 $13.9/page Hire Writer During the war, the U.S. sent troops to Asia, Africa and Europe. After the wars end, the remnants of the League of Nations re-formed as the United Nations, and this time the United States was front and center. Under the Truman Doctrine, American economic and military aid went to nations threatened by communism. The Marshall Plan helped rebuild Europe and the Cold War made an American military presence abroad a foregone conclusion for the next 50 years. Roosevelt did not live long enough to see the war unfold though after declaring war he suddenly died of a brain hemorrhage. Roosevelt was replaced by Harry Truman. The US had avoided war in World War One because of many factors economic reasons and public opinion being the most important ones. However by 1945 things had changed and Truman looked upon the war as a brilliant opportunity. Fuelled by German Hatred after the events of Pearl Harbour, Truman had the public on his side. He had the backing of Congress and his own personal views that the US needed war as an economic opportunity (selling munitions) and his slogan to make the world safe for democracy. (Safe from German Imperialism.) With all of these positive factors the US entered a war of opportunities. Abroad, World War II brought an end to American isolationism. In the spring of 1945, the US joined delegates from 50 nations in signing the charter for a permanent United Nations, a year before the International Monetary Fund and World Bank were established to promote economic cooperation among nations. But the biggest challenge facing the United States in the postwar world was the souring of relations with the Soviet Union as a result of that countrys domination of Eastern Europe and support of communist insurgencies around the world. As part of the effort to contain the Soviet spread and to revive the economies of Western Europe, the United States launched the European Recovery Program (usually known as the Marshall Plan,) which poured $13 billion of aid into the region. In addition, the US adopted a policy of containment, shoring up non-communist areas in danger of encroachment. Thus, when the Soviet Union blockaded all surface routes into Berlin, the US and Britain launched the Berlin Airlift, supplying the western sectors of the city by air. We do have to question however whether the US was truly Isolationist. It would have been ignorant for any president to ignore world matters as if there was an opportunity for intervention then the US may have been able to capitalize on a situation and gain extra lands. After all, raw materials in the US could not last for ever. In my opinion Truman had no intention of remaining Isolationist for the World War, despite his election pledge of US Isolationism. Throughout the war he supplied Britain with loans and fighting equipment as well s increasing the US armies and Navies and supporting the Ententes blockade of Germany. World War Two was a major point of change for the US. From now on they saw it their duty to intervene in world matters (world policeman) because they were the worlds most influential power, and after all could benefit with the gaining of land and resources from certain countries. Take for example the recent war in Iraq, a country where the US is now gaining valuable amounts of oil from. Although the US role as a world policeman is supposedly world based, in my opinion this is not the case. Take for example events after world war two. There have been major wars in Vietnam and in Iraq, but these were only brought about because of threats to the US country. Indeed the US are reluctant to get involved in any war which has no effect on them. Vietnam was brought about by American fear of Communism, and wars in Iraq because of its valuable resources and the terrorism attacks of September the eleventh. During the Cold War, some Americans argued that the country should withdraw from the United Nations; but the Cold War, as a patriotic and ideological crusade, kept those voices from receiving widespread support. Today, the United States government and military is whatever word would best describe the extreme opposite of isolationist. In my opinion this is how they have always secretly been. US interests were always widespread; its just that when World War Two arrived the US were economically and socially ready to develop a world role. The breakout of war provided a perfect opportunity/excuse for the US to move away from its Isolationist image. The Challenge to Isolationism. 1. What was FDRs immediate response to the outbreak of war in Europe? Roosevelt was re-elected by the US public on the promise that he would keep the US out of World War Two. However he soon realized that war in Europe could lead to war in America and so supported the allied policy of appeasement to ensure peace. Roosevelt wanted to prepare America for the worst though. He believed the security of Europe was crucial to the security of America. He was able to persuade Congress to approve the Naval Expansion Act allowing a 20% increase in the US navy. In 1939, he got an extra $525 million for air defence. At the start of the Second World War, however, the American army still only numbered 185,000. 2. Did a majority of the US public and politicians favour isolationism in the early months of the war? 3. What legislation was included in the Neutrality Act of 4/11/39? During the 1930s, US public opinion as well as several Senators questioned the validity of US involvement in the Great War. The belief became increasingly common that the nation was deceived into taking part in this bloody conflict by Allied propaganda and to serve the interests of profit-thirsty bankers and industrialists. The conclusions of the Nye Committee in 1934, tasked with investigating the excessive profits made by the war armament industry, reinforced the antiwar position of the American people and finalizes the countrys isolationist policy. As a reaction to Germanys re-armament, and to prevent any US involvement in a possible European war, the US Congress voted the Neutrality Act, signed by President Franklin D. Roosevelt on August 31, 1935. The Act prohibits trade in military material with warring countries and travel by US nationals on ships belonging to warring countries. It was amended in 1936 to prohibit loans to warring countries, and then in January and March 1937 to include civil wars. At the beginning of WWII, the possibility that Great Britain could be defeated is real and the growing Nazi threat is a cause for fear. Roosevelt realizes that the Neutrality Act imposes restrictions on possible US actions; amendments will be adopted to diminish the legislations scope. Supplying nations at war will be authorized on the cash and carry principle. President declares area around British Isles a combat zone in November 1939, and loans of military material will be possible on a land-lease agreement. Summary of Neutrality Act of 1939; This act repeals the arms embargo and substitutes a policy of cash and carry; prohibits United States vessels and citizens from entering combat zones; establishes the National Munitions Control composed of the Secretaries of States, Treasury, War, Navy, and Commerce. 4. What impact did Hitlers successful Blitzkrieg have on American attitudes? The speed with which the German army overran Western Europe shocked the American public. By June 1940, the Nazis were in control of Norway, Denmark, Holland, Belgium and France. Through the summer and autumn the Battle of Britain was fought with Britain and its empire standing alone against the Nazi threat. The broadcasts of journalist Ed Murrow from London during the Blitz did much to communicate to Americans the intensity of the struggle taking places, and this led to cries from the US public for American intervention in the war.

Dark Matter and a Distant Supernova Make an Eerie Cross

Dark Matter and a Distant Supernova Make an Eerie Cross A long time ago, in a galaxy far, far away...a massive star exploded. That cataclysm created an object called a supernova  (similar to the one we call the Crab Nebula). At the time this ancient star died, own galaxy, the Milky Way, was just starting to form. The Sun didnt even exist yet. Nor did the planets. The birth of our solar system still more than five billion years in the future. Light Echoes and Gravitational Influences The light from that long-ago explosion sped across space, carrying information about the star and its catastrophic death. ​Now, about 9 billion years later, astronomers have a remarkable view of the event. It shows up in four images of the supernova created by a gravitational lens created by a galaxy cluster. The cluster itself consists of a giant foreground elliptical galaxy collected together with other galaxies. All of them are embedded in a clump of  Ã¢â‚¬â€¹dark matter. The combined gravitational pull of the galaxies plus the gravity of dark matter distorts light from more distant objects as it passes through. It actually shifts the direction of the lights travel slightly, and smears the image we get of those distant objects. In this case, the light from the supernova traveled by four different paths through the cluster. The resulting images we see here from Earth form a cross-shaped pattern called an Einstein Cross (named after physicist Albert Einstein). The scene was imaged by the Hubble Space Telescope. The light of each image arrived at the telescope at   a slightly different time - within days or weeks of each other. This is a clear indication that each image is the result of a different path the light took through the galaxy cluster and its dark matter shell. Astronomers study that light to learn more about the action of the distant supernova and the characteristics of the galaxy in which it existed.   How Does this Work? The light streaming from the supernova and the paths it takes are analogous to several trains that leave a station at the same time, all traveling at the same speed and bound for the same final destination. However, imagine each train goes on a different route, and the distance for each one is not the same. Some trains travel over hills. Others go through valleys, and still others make their way around mountains. Because the trains travel over different track lengths across different terrain, they do not arrive at their destination at the same time. Similarly, the supernova images do not appear at the same time because some of the light is delayed by traveling around bends created by the gravity of dense dark matter in the intervening galaxy cluster. The time delays between the arrival of each images light tell astronomers something about the arrangement of the dark matter around the galaxies in the cluster. So, in a sense, the light from the supernova is acting like a candle in the dark. It helps astronomers map the amount and distribution of dark matter in the galaxy cluster. The cluster itself lies some 5 billion light-years from us, and the supernova is another 4 billion light-years beyond that. By studying the delays between the times that the different images reach Earth, astronomers can glean clues about the type of warped-space terrain the supernova’s light had to travel through. Is it clumpy? How clumpy?   How much is there?   Answers to these questions arent quite ready yet. In particular, the appearance of the supernova images could change over the next few years. Thats because light from the supernova continues to stream through the cluster and encounter other parts of the dark matter cloud surrounding the galaxies.    In addition to the Hubble Space Telescopes observations of this unique lensed supernova, astronomers also used the W.M. Keck telescope in Hawaii to do further observations and measurements of the supernova host galaxy distance. That information will give further clues into conditions in the galaxy as it existed in the early universe.

The Associative and Commutative Properties

The Associative and Commutative Properties There are several mathematical properties that are used in statistics and probability; two of these, the commutative and associative properties, are generally associated with the basic arithmetic of integers, rationals, and real numbers, though they also show up in more advanced mathematics. These properties- the commutative and the associative- are very similar and can be easily mixed up. For that reason, it is important to understand the difference between the two. The commutative property concerns the order of certain mathematical operations. For a binary operation- one that involves only two elements- this can be shown by the equation a b b a. The operation is commutative because the order of the elements does not affect the result of the operation. The associative property, on the other hand, concerns the grouping of elements in an operation. This can be shown by the equation (a b) c a (b c). The grouping of the elements, as indicated by the parentheses, does not affect the result of the equation. Note that when the commutative property is used, elements in an equation are rearranged. When the associative property is used, elements are merely regrouped. Commutative Property Simply put, the commutative property states that the factors in an equation can be rearranged freely without affecting the outcome of the equation. The commutative property, therefore, concerns itself with the ordering of operations, including the addition and multiplication of real numbers, integers, and rational numbers. For example, the numbers 2, 3, and 5 can be added together in any order without affecting the final result: 2 3 5 10 3 2 5 10 5 3 2 10 The numbers can likewise be multiplied in any order without affecting the final result: 2 x 3 x 5 30 3 x 2 x 5 30 5 x 3 x 2 30 Subtraction and division, however, are not operations that can be commutative because the order of operations is important. The three numbers above cannot, for example, be subtracted in any order without affecting the final value: 2 - 3 - 5 -6 3 - 5 - 2 -4 5 - 3 - 2 0 As a result, the commutative property can be expressed through the equations a b b a and a x b b x a. No matter the order of the values in these equations, the results will always be the same. Associative Property The associative property states that the grouping of factors in an operation can be changed without affecting the outcome of the equation. This can be expressed through the equation a (b c) (a b) c. No matter which pair of values in the equation is added first, the result will be the same. For example, take the equation 2 3 5. No matter how the values are grouped, the result of the equation will be 10: (2 3) 5 (5) 5 10 2 (3 5) 2 (8) 10 As with the commutative property, examples of operations that are associative include the addition and multiplication of real numbers, integers, and rational numbers. However, unlike the commutative property, the associative property can also apply to matrix multiplication and function composition. Like commutative property equations, associative property equations cannot contain the subtraction of real numbers. Take, for example, the arithmetic problem (6 – 3) – 2 3 – 2 1; if we change the grouping of the parentheses, we have 6 – (3 – 2) 6 – 1 5, which changes the final result of the equation. What Is the Difference? We can tell the difference between the associative and the commutative property by asking the question, â€Å"Are we changing the order of the elements, or are we changing the grouping of the elements?† If the elements are being reordered, then the commutative property applies. If the elements are only being regrouped, then the associative property applies. However, note that the presence of parentheses alone does not necessarily mean that the associative property applies. For instance: (2 3) 4 4 (2 3) This equation is an example of the commutative property of addition of real numbers. If we pay careful attention to the equation, though, we see that only the order of the elements has been changed, not the grouping. For the associative property to apply, we would have to rearrange the grouping of the elements as well: (2 3) 4 (4 2) 3

Different SPI Models of Cloud Computing Case Study - 1

Different SPI Models of Cloud Computing - Case Study Example Cloud computing is actually a colloquial expression that refers to an array of varying types of computing concepts that consist a large number of computers interconnected to each other by means of an actual, simultaneous communication like the Internet (Carroll et al., 2012). Also, cloud computing is a model that is used to allow pervasive, global, and convenient network access to a common collection of configurable computing resources such as networks and servers (Mell & Grance, 2011). Essentially, the objective of cloud computing is to maximize shared resources. This has been carried out by sharing services and resources that are made available on the World Wide Web. How? At the root of cloud computing is a deeper concept of combined infrastructure and shared services. So, why the thought of using clouds as part of the phrase? Cloud computing allows shared services including servers, not actual serves but virtual servers which are interconnected to each other using the internet. These servers do not really exist in actuality; hence, they can be moved around or expanded while the end-user is not being affected at all – similar to a cloud. Cloud computing has different SPI models and each of them has a specific use. But first, let us learn about what SPI means. SPI is an acronym that refers to conventional cloud computing models. SPI stands for the following: S is for Software as a Service (SaaS); P is for Platform as a Service (PaaS), and I is for Infrastructure as a Service (IaaS). SaaS is specifically intended for the end-users, which are transmitted over the internet. PaaS is a collection of means or instruments meant for coding and setting up applications quickly and efficiently. And lastly, IaaS simply pertains to the hardware and software that make everything work effectively. These include servers, networks, operating systems, etc. (Mell & Grance, 2011). SaaS is normally end-user applications that are being delivered by means of the internet.  There is no need for installation as long as a browser and a connection to the internet are set.