Nathan Daniel is a company that produces and retails designer accessories for young professionals. The company partners Nathan Phillips and Daniel Collins, have been best friends since they started university. Both graduated from Majesty University with a major in accounting and a minor in economics. Both found articling positions in a co-op program during their fourth year at Majesty University. After convocation, Daniel went to work for his father’s accounting firm, whereas Nathan worked full-time with the firm where he had articled. After three years, they both passed their national certification exams to become certified accountants.

After two more years of accounting work, the two friends decided to strike out on their own. However, Daniel and Nathan had had enough of spreadsheets, year-end deadlines, and high stress work, and decided to pursue a completely different direction: retail sales of accessories for young, metrosexual professionals. They opened a store in Calgary to sell bags, packs, briefcases, wallets, and other accessories. They also designed some of their own merchandise and sold it under the designer label “Bones.” Thanks to a great cover story in Macleans, the Bones brand became an overnight success, and orders started flooding in.

That was five years ago. Today, in addition to servicing their store in Calgary, Nathan Daniel ships merchandise to other retailers, in Alberta, British Columbia, and Ontario. Over the years, 70% of their annual sales of $3,500,000 have shifted to credit sales to other retailers, with 50% in Alberta, 30% in British Columbia, and 20% in Ontario.

As credit sales have increased, managing the cash cycle and float has become important. Most of the credit customers make payments with cheques that are mailed via Canada Post. Cheques from Alberta usually arrive within one business day of posting, whereas cheques from British Columbia take two days, and those from Ontario take about four days to arrive at the Calgary office. When each cheque arrives at the office, Naomi Mitchell, the office manager takes the cheques out of their envelopes, records them, and puts them aside for deposit at the end of business day. It usually takes about three days for the company’s bank, Bank of Mount Royal to process and clear the cheques, and deposit the money in the company’s account.

In terms of its accounts payable, the company mails its cheques out to its suppliers, all of whom are located in Alberta. The costs of goods sold amounts to approximately 75% of total sales revenue. On average, it takes about one day for suppliers to take their cheques to their banks for deposit, and it takes another three days for their banks to process and clear the cheques.

In the last operating year, the company started the year with payables of $130,000 and ended it with $110,000. Beginning receivables were $175,000, and ending receivables amounted to $145,000; beginning inventory was $80,000, and ending inventory was $120,000; and beginning cash reserves were $20,000, and ending cash reserves were $15,000. Two years ago, Nathan Daniel borrowed $550,000 from the bank at an interest rate of 15% to expand its production and retail facilities. In addition to paying the interest on this loan, they are also repaying 10% of the original principal each year (i.e., it will take another eight years to pay off this loan). At its most recent year-end, the company owned $650,000 in net fixed assets, and Daniel and Nathan had $200,000 in equity in the company. The company uses a line of credit (up to a maximum of $200,000) with its bank to cover shortfalls in its cash-on-hand. The interest on this line of credit is 2% per month.

The manager of the Bank of Mount Royal just phoned Daniel and offered the company same-day deposit for their cheques; this will reduce their availability float to one business day. The fee for this service will be $3,000 per year.

Nathan and Daniel must decide whether this is a good deal or not. At the end of the business week, the partners ordered a large pizza and went to Nathan’s place to hash out their decision. They came up with the following list of questions:

1. What are the company’s inventory period, receivables period, and payables period? (Round all periods to the nearest integer.)   
2. What are the company’s operating and cash cycles?                
3. How do the company’s operating and cash cycles compare to the industry average of 30 and 20 days, respectively?                               
4. If the company’s customers’ average cash cycle and operating cycle are 30 and 40 days, respectively, what can we say about the company’s credit management policy of net 30?                                              
5. What is the company’s average daily collection float? What is its average daily disbursement float? (Use the average mail float to calculate the collection delay, use the average daily cost of goods sold to calculate the average daily disbursement float, and use the average daily credit sales to calculate the average daily collection float.                           
6. What is the company’s net float?                                           
7. What is the effective annual interest rate on the company’s line of credit? What is the annual short-term interest expense based on this effective annual rate? Assume that the ending short-term borrowing amount is the average short-term borrowing amount. This average amount can then be multiplied with the effective annual interest rate to obtain the short-term interest expense. Note that you will need to construct the Statement of Financial Position to find the ending short-term borrowing amount.      
8. What will be the net float if Nathan Daniel takes up the Bank of Mount Royal’s offer for same-day deposit of their cheques?              
9. How much additional cash will be made available if the company takes up the Bank of Mount Royal’s offer for same-day deposit of their cheques? (Assume that on average, sales will remain at $3,500,000 each year.)
10. How much does the company have to borrow from its bank to cover net float if they accept the bank’s same-day deposit offer?             
11. Should the partners accept the same-day deposit offer from its bank?

Why is it important for vectors to have their own Ori?

          a.) It isn’t, they are attached to the chromosomal DNA and will divide from its Ori

          b.) The Ori will protect the vector from the organism’s restriction enzymes

          c.) The Ori is what allows us to select for those cells that actually transformed

          d.) It has to be able to replicate independently of the chromosomal DNA

Apply specific models developed from economics to demonstrate how domestic and foreign events (e.g., wars, changes in trade barriers, development abroad) have impacted the level of and changes in imports and exports in the United States from 2000 - 2010.

Please make sure to relate the answer to the time period of 2000 - 2010 in the US.

contribute to this forum by telling us whether you prefer the "mechanistic" view or the "integral" view? Provide evidence from personal experience or from your culture.

(If you think the metaphysical is real, what does that suggest about the ground of ethics?)

Could you please answer this forum Question of Philosophy in 150 words Thanks :)

BUSINESS ANALYSIS

select business that publicly trades on the New York Stock Exchange or NASDAQ

1. the company`s name on its name history if the name changed since the company was originally formed ( consider mergers etc.)
2. company`s trademark(s)

3. location of the company`s home office and whether they have offices located outside the US (if so, identify location(s))

4. description of the company`s general products or serviced

5. the company`s mission statement or business philosophy

6. whether the company is publicly traded and if so, the stock exchange on which the company`s shares are traded

7. the current CEO and summary of his/her business background

8. the identity on one of the company`s primary competitors

9. summary of the company`s corporate ethics policy and the URL to this policy

10. summary of company press release dated July 1, 2017 or later

11. summary of lawsuit in which the company has been involved as a plaintiff or as a defendant

Michael Pettis from Peking University wrote in May 2011:“In most countries households typically consume around 60-70 percent of GDP, and even the countries of East Asia that have followed a growth model similar to that of the Chinese, household consumption typically represents 50-55 percent of GDP. In China, a decade ago household consumption represented about 45 percent of GDP.But the story doesn’t end there. Five years ago household consumption in China declined to around 40 percent of GDP. ... Policymakers pledged to take every step necessary to raise household consumption growth and to help re-balance the economy. A few economists remained skeptical. They argued that Beijing would not be able to raise the consumption level because doing so would require fundamental change to the growth model. .... Even the skeptics were wrong. For the next five years GDP growth continued to surge ahead of household consumption growth until by last year household consumption represented an astonishing 36% of GDP.”

a. Using tools from the Solow model of growth, explain how a decrease in the share of consumption (and a corresponding increase in the share of investment) in GDP affects Chinese growth in the short term. How does it affect the long-run steady-state capital stock per worker and the marginal productivity of capital in this eventual steady state? What might be the implications for consumer welfare (as opposed to the size of the capital stock and the size of the GDP)?

b. What is the logic behind the statement that China can keep investing in new capital “without running into diminishing returns, because it can keep drawing new labor from the countryside?” [Hint: recall the concepts of constant returns to scale in the production function versus diminishing returns to a given factor of production.]

GetMyFood, Inc. has developed an application for cell phones aimed toward consumers who live in more rural areas where there are few delivery options for take-out food.   The app connects local taxi drivers with the larger restaurant food delivery services in nearby areas to extend the range of home meal delivery service.

The company expects to generate revenues of $2000 (figures in thousands) in the first year (2020) with a general costs of services sold of $1200 (figures in thousands.) The company expects to see a sharp increase in the revenues earned after the first year as the new service gains recognition but believes that the life-cycle of the product will be relatively short as market research has shown that the business model will be most successful in areas that are more rural but still relatively close to larger population centers. Given the general demographic trend in population growth, the company believes that their target market will diminish over time as more standard delivery services become available.  

The company estimates the following growth rate for revenue, costs, and SG&A over the next five years:

The have also forecasted the following items for working capital:

Taxes are assumed to be 34% per year. The initial outlay for software development is estimated to be $1000.

You have been hired as a financial consultant to determine the estimated free cash flows to the firm for GetMyFood, Inc.

finchco case for corporate finance,

It was late February 2010, and Harry Finch who was president and chief executive officer (CEO) of Finch Distributing Company (Finchco), was thinking about selling his business. At 65 years of age but in excellent health, he wanted to pursue his dream of buying a yacht and sailing around the world. His interest in selling the company had begun in earnest when in late 2007 Finchco had received a $35.4 million offer1 to purchase the company from one of its U.S. suppliers. Unfortunately, at the onset of the financial crisis, the offer was revoked. Since that time, Finchco had experienced a financial reversal related to the downturn of the economy but Finch felt that the company was turning around and had a potential large contract on the horizon. He wondered whether the time was right to offer his firm for sale.

Daniel and Christian are discussing cases where the retrospective approach cannot be used because it is considered impracticable to do so. Christian says that in cases like this, the change in accounting principle will still be allowed, but Daniel disagrees. Who is correct?

Select one:

a. Daniel, the company will be prohibited from switching accounting principles for this period, which will have to wait until the calculations can be properly completed.

b. Daniel, the company will not be permitted to switch accounting principles, but if they can determine the cumulative effect within the year, then the change will be considered retroactive.

c. Christian, the company will need to prospectively apply the new accounting principle in the earliest period, but they should not disclose why they did not include calculations for the cumulative effect.

d. Christian, the company will need to prospectively apply the new accounting principle in the earliest period, and they will need to disclose why they did not include calculations for the cumulative effect.