Environment and Climate Change in Panama Essay - 1521 Words

Environment and Climate Change in Panama Home to vast tropical rainforests, an immense variety of animal and plant species and the seaway that connects the North Atlantic Ocean and the North Pacific Ocean, Panama relies heavily on all these resources for its economy. However, environmental challenges threaten the sustainability of these assets and therefore create a significant problem for the country. This paper will examine the effect of weather and climate change on Panama coupled with a specific focus on the Panama Canal. It concentrates largely on the effects of deforestation, coupled with the effect of El-Nino, and examines how this has had significant economic and social consequences.†¦show more content†¦Secondly, smoke from forest fires can reduce rainfall and cloud cover can trap moisture, therefore inhibiting the formation of raindrops. The consequences of deforestation can be more severe if coupled with other conditions that contribute to a lack of precipitation. In Panama, deforestation was couple d with the warming effects of regional El-Nino phenomena, resulting in heavy droughts in the country. Especially during the extremely intense El-Nino conditions in 1982-83 and 1997-98, Panama was faced with severe conditions. Drought conditions, due to the double effect of El-Nino and deforestation have a variety of environmental and economic consequences. Primarily, it affects agricultural production, especially of dairy, corn and rice, together with reducing the quality and quantity ofShow MoreRelatedThe impacts of the closure of the panama gateway are inconclusive. There are multiple models that600 Words   |  3 PagesThe impacts of the closure of the panama gateway are inconclusive. There are multiple models that have tried to infer the ocean current patterns that do not agree with each other. There is evidence that the salinity levels in the Pacific Ocean and Caribbean Sea changed but it is not certain what caused the alteration. The biodiversity changed as the current and salinity of the ocean changed. The closure of the gateway can also be credited with the â€Å"Great American exchange†. Ocean circulationRead More Panama History and Culture Essay1377 Words   |  6 PagesPanama History and Culture The culture and political structures of Panama as we know it today has evolved from an incredibly diverse and interesting history. Geographically, Panama lies on an isthmus, a strip of land that essentially connects the greater landmasses of North and South America. It is believed that volcanic activity in the late Pliocene era closed the former Central American Seaway that had separated the two continents. The climatic implications of this landformRead MoreEvolutionary Theory : Climate Change On Evolution899 Words   |  4 PagesEvolutionary Theory: Climate Change on Evolution Evolution is the process of change that occurs in the traits of a population of a species over many years. At the molecular level, dissimilarities of an individual’s genes, known as the genotype, result in the change of their physical characteristics, or phenotype. There are three main driving forces that trigger evolution in a population. Those three include: natural selection, change in the gene pool through mating, and genetic variation betweenRead MoreThe Effects Of Overpopulation On The Environment1400 Words   |  6 Pagesdownfall of the environment it rises over. Water is becoming polluted and scarce, land is shrinking, and extensive use of fuel is contaminating the atmosphere. Deforestation and global climate change are causing a downfall in biodiversity around the world. One can argue that overpopulation is the cause of all these phenomena, and one could argue differently. As with all scientific questions, results will be collected, questioned, and discussed. Does o verpopulation globally impact the environment? With theRead MoreIntroduction Agalychnis callidryas is a species of tree frogs found in the tropical rainforests of1600 Words   |  7 Pagescondition of their habitat is of great concern. Extremes such as global warming, wetland drainage, climate changes, pollution and deforestation have taken a severe toll on their habitat. Amphibians in general tend to suffer more rapidly from environmental changes than other animals in the rainforest so if they are beginning to suffer then it is only a matter of time before those environmental changes begin affecting other animals (Boman 2002). Agalychnis callidryas prefer the warm and humid temperaturesRead MoreThe Amazing Achievement Of Building The Panama Canal Did Not Come Without Great Loss1517 Words   |  7 PagesThe astounding achievement of building the Panama Canal did not come without great loss. Within great achievement and betterment of the world, sometimes comes great tragedy. Great change also doesn’t happen without a strong fight. 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The Purpose of Advertising Essay - 1263 Words

The Purpose of Advertising The purpose of advertising is to familiarise the public with a certain brand or product. Companies spend millions of pounds a year on advertising so that when the public are searching for a product or service a certain brand is recognised and, as a result, their product or service is chosen. Companies need to ensure that their money is spent wisely. They do this by completing extensive market and physcological research. Members of the public from a company’s target group or audience are chosen to express their views about the advertisment before it is published or aired. Media can include television, cinema and radio. This is the communications aspect of†¦show more content†¦This is illustrated in the first advertisment, for Chanel No.5 perfume. The classic, sophisticated design immediately sets the tone for the advert and for the type of audience it has been aimed at. Chanel is an icon of the 21st century and its image needs to be preserved by attracting new customers. The modern, yet timeless layout of the promotion emphasises on this, but the advert is traditional enough to appeal to older audiences. This shows that although Chanel wish to attract a newer audience, they also desire to keep their traditional customers loyal to the marque, hence the non-controversial advertisment. The advert itself has remained almost unchanged for the last forty years, as Chanel wish to preserve their image. However, to appeal to successive generations the visual treatment has recieved subtle changes, such as the inclusion of a more modern looking colour scheme. The advert instantly grabs the reader with its striking, simplistic design. The contrast between the two main colours adds to the classic meets modern feel that Chanel were aiming for. Chanel is a name dating back to the 1930’s. Over the years, it has been associated with the world of fashion, style and elegent living throughout the world. Chanel do a fantastic job of creatingShow MoreRelatedAdvertising : The Purpose Of Advertising And Advertising941 Words   |  4 PagesThe main purpose of commercials and advertisements is to persuade the viewer to purchase the product that is advertised, but not all commercials are successful in this endeavor. Companies, such as Budweiser and Kleenex, appeal to the viewers’ ethos, logos, and pathos in order to influence them to buy the advertised product(s). In order to appeal to each of the categories, companies use different tactics to catch viewers’ attention. Budweiser first released its â€Å"Lost Dog† commercial during SuperRead MoreIs the Purpose of Advertising to Create Cognitive Dissonance1972 Words   |  8 PagesAdvertising deals with peoples feelings and emotions. 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Financial Management Family Business Resources

Question: Describe about the Financial Management for Family Business Resources. Answer: Introduction Dragonfly Corporation is a family venture set up by a couple with the hope of having something of their own to do. Funded by family resources and also obtaining attorney services within the family made it an easy start for the business. But as time progressed, the business did not hit the level of expected sales and profits which landed Dragonfly Corporation into difficulties and even legal claims. The financial analysis along with the ratio analysis and the extent of competition, future course of actions are all discussed hereunder. Analysis of Financial Statements The unaudited Balance Sheets for 2009, 2010 and 2011 have been given and analyzed as below: The Current Assets are on an increasing trend which is a good sign. The major contributor towards the increase in current assets is inventory and still the piling up of inventory and low sales is a matter of concern. Fixed Assets are more or less on the same level with the additions to Leasehold Improvements year after year (Melville, 2013). In the Other Assets, the deposits are at the same level whereas the Organization Costs have seen a deferral due to amortizations. Overall on the Assets side, there are not much additions or deletions and almost a similar level has been maintained. On the Current Liabilities side, there is a huge increase estimated for the year 2011. Bank Notes payable and Stockholders notes payable are almost reasonable numbers. The Accounts payable has increased in the year 2011 due to the Crossroad Rent outstanding. Accrued Liabilities and Other debts are almost on a similar level and hence there are no worrying indicators (Horngren, 2013). The Long Term Debt gets accrued for Hepburns. Stockholders Equity is estimated to increase in the year 2011 due to the reclassification of the debt of Hepburns as Equity and so there has been no actual infusion of capital in the business. The most worrying factor is the accumulated deficit which keeps on adding year on year and this is the one factor that can bring down the entire balance sheet (Christensen, 2011). Thus the balance sheet analysis predicts the instability of the financial position unless the sales and profits improve. Profit and Loss Account The Income Statements for the years 2009 and 2010 have been presented. The Sales for the year 2010 has increased a little and the expenses have also dropped due to which the net loss has lowered for the year 2010. As Dragonfly Corporation has taken significant steps towards the advertising costs and cutting down of expenses, the loss has dropped and it has been able to cope to an extent (Horngren, 2013). Cash Flow Statement The Cash flow for the year 2008 has been presented month wise and it indicates gross mismatch of cash. The sales have been more or less on the same level except for a few months but due to the increase in expenses, the cash balance has become negative. To overcome this cash deficit, the cash will be pulled from the other long term sources which will also endanger the financial position and stability (Northington, 2011). Pro forma Income Statement Analysis After the addition of the second and third store, the projected revenues are set to increase. Also the location seems to be an advantage for the second and third store due to which the same level or even more sales are predicted to be generated from these stores. The situation of the store is an added advantage for the business and can helps to reap strong profit. As the stores have increased, the operational costs are also set to increase. The selling and advertisement expenses remain on the same level as the Dragonfly has already been sufficient on the same even when it had just one store. The other administrative expenses including rent, salary, maintenance and occupancy expenses are increasing in proportion to the number of offices added on. The resultant profit is seen to have increased year after year leading to a pretty comfortable position (Horngren, 2013). The practical reality of the same can be tested only by the time as the projected and estimated sales levels have to be achieved on the first hand. As the fixed expenses have to be incurred irrespective of the level of sales, a drop in the sales or the not achieving of estimated levels of sales might pull down the firm into losses and that has been happening till recently. Overall Analysis As these future predictions present profits, until Dragonfly actually achieves these results, it might be difficult for any outsider or third party to place reliance on the same. On looking at the current position of the Dragonfly, bankruptcy seems to be the only recourse as it was no longer financially viable to run the business. The crunch in the financial position is a major hurdle in the progress. Undoubtedly, finance is the life blood of the business and a bankrupt position will spoil the functioning of the business (Choi Meek, 2011). Though the Thompsons had started to believe that the business was slowly and steadily reviving and recovering, Crossroads landlord was threatening to blow out the business. Hence it might be difficult to predict the certainty of the existence of the business. Ratio Analysis Ratio analysis is a form of analysis of the financial statements that gives a quick indication about the performance of the business and the several key areas. The popular ratios are profitability ratios, solvency ratios, asset management ratios, turnover ratios and market value ratios. Each of the ratios has its own significance and conveys the trend of movement of the various items on the financial statements. It is easy to calculate as it just a mathematical formula and helps in decision making as it gives meaningful interpretations. The ratios of the entity in question are compared with the industry standard ratios and the increase or decrease is analyzed. Thus ratio analysis facilitates comparison across companies and also helps in the identification of the strengths and weaknesses. Profitability Ratios Gross Profit Ratio This ratio is also known as Operating Margin as it typically indicates the proportion of sales generated against the direct expenses of the business. The Gross Profit Ratio of Dragonfly is worked out as in the table (Appendix 1). Thus we can see that the operating margin has definitely improved and this is one positive sign indicating that there is the possibility of continuing the business. This has kept the business alive and can be kept as one of the positive factor. The year 2010 has been strong as 39% gross profit was posted as compared to the year 2009. Net Profit Ratio This Ratio considers the proportion of sales against all the direct and indirect expenses. It is calculated in the table (Appendix 1). As there is a loss reported for both the years, the proportion of loss has decreased for the year 2010. The net loss was more in the year 2009 while declined to a considerable extent in the yar 2010. In this case, the operating profit ratio and net profit ratio are typically one and the same as the profits are not computed separately unlike a company. Liquidity Ratios These ratios depict the liquidity of the company whether it is able to meet its current liabilities or not. The sufficiency of the available cash and liquid funds to meet the liabilities is indicated by these ratios. Current Ratio This is the ratio of the Current Assets to the Current Liabilities. It is calculated in the table (Appendix 2) The ideal Current Ratio is considered to be 2:1 which indicates that the current assets should be twice the current liabilities. Though in this case for both the years, the ratio is below 1 the stability of the business is a concern (Albrecht et. al, 2011). Dragonfly does not seem to have sufficient current assets to cover all its current liabilities. This will prove to be a problem in meeting the obligation. Cash Ratio This ratio indicates whether the cash balance is sufficient to cover the current liabilities or not. It is calculated in the table (Appendix 2). In this cash, the Cash Balance is grossly insufficient to cover up the current liabilities and if Dragonfly increases the sales revenue, then this ratio is likely to improve. Hence, it is important for Dragonfly to keep a check on revenue and enhance the same as it will lead to a better position. Turnover Ratios These Ratios indicate the number of times items like fixed assets, inventory, debtors and creditors have rotated in a year. The Fixed Assets have shown a considerable turnover and it is in line with the industry standards. This is another strong factor in the companys working. The result is average and in tune with the standards (Deegan, 2011). Return Ratios These ratios indicate the proportion of returns on the fixed assets and capital employed. It is calculated as under: As there has been a loss, the returns are negative, though the proportion and percentage of loss and negative returns has reduced in 2010 and is estimated to reduce further in 2011; still it remains to be a cause of concern. Success in the future or what will help it achieve success At the current state of business, it is though difficult to predict how the business will turn to be a successful one in future. The current state of business is completely disturbed and from here on any prediction is difficult. Still if Dragonfly really wants to become a successful venture, then it has to do some major restructuring in the pattern of sale and fine more dedicated customers who will make repetitive purchases. For this reason, it is essential that Dragonfly also starts online business for selling its products and tries out such modes of advertisement that will involve a personal touch and get customers to the store (Merchant, 2012). Apart from this, merging with some other well operating business can help Dragonfly increase its sales. As it has taken sufficient measures towards working out cost reduction, increase in sales is the only way to revive the revenues and turn Dragonfly into a successful business venture. Impact of competition on business As the store is located in a mall, there are chances of stiff competition. The rent is pretty high and even a few other stores located in the mall are in the plans of shifting out. Due to these reasons, the sales for the first year itself were lower than expected and most of the inventory has to be written down and marked down significantly. Dragonfly had set the sales prices on a higher side which also acted as a drawback. If the customers get the initial feel of a high priced store, they might not be willing to come in for a subsequent purchase. Thus the results were significantly lower than the industry standard and in the garments business; the effect of competition is seen. The presence of cut-throat completion has further marred the situation. Ethical considerations on Insolvency On an ethical note, the business should be wound up as it would take many years to wipe out the huge accumulated losses and also the legal notice received from the landlord seems to be a significant issue. There is the possibility of more legal actions expected if the business continues (Needles Powers, 2013). It is also not a healthy practice to run the business on the money of outsiders as this will only worsen and dampen the financial position of the business and render insolvency in the near future. The circumstances that warrant the disclosure of all the material items should be made due to which the users of financial statements can make informed judgments about the continuity of business and decide on the future course of actions (Davies Crawford, 2012). Thus it is not really ethical to continue the business at this rate and Dragonfly should focus on winding up and repaying the amounts due to the creditors and other parties. Acute difficulties are seen at the current level and the progress is stalled owing to the difficulties in the financial numbers (Kaplan, 2011). External factors indicating chances of merger or acquisition Currently there are no specific indicators of a merger or acquisition on its way. The reason for the same is that no entity would like to merge with a loss making business. Always for a merger, the acquiring party looks for benefits. Apart from inventory, there is not much any entity can benefit by merging with Dragonfly (Williams, 2012). Still if any other successful entity expresses interest in the acquisition, then Dragonfly could at best hit a profitable deal and work out for its restructuring and future business prospects. Recommendation Dragonfly is in financial crisis and so it is not a wise decision to invest in this point of time. If the business is able to generate real sales, then the accumulated losses might slowly and steadily get reduced which is seen to be a good time to invest in the company (Brigham Daves, 2011). The intention of Thompsons is not wrong, they are not willing to cheat or defraud anyone by doing business. There is a genuine crisis as the business did not take off as expected and predicted. Hence this is not the right time to make an investment in Dragonfly and if there are signs of profitability and increased stock turn around, then it would be feasible to make an investment (Libby et. al, 2011). At the current position it is difficult to gauge whether it will form a bottom or will tank further below. Since there is immense difficulty in the management and the progress it is important to stay away from the stock. Conclusion There is a huge expectation of Christmas Sales though the possible returns in January pose a threat. Thus, it would be wise to wait until February to know the real state of business and judge if there are any positive indicators to continue the business or not. Knowing the real state of business is important because it will help in ascertaining the performance. In a short, it is in a crisis position and going through a very difficult position (Parrino et. al, 2012). As per the scenario, it can be said that the environment is not safe for investment and hence, the management must stress on key factors and try to iron out the difficulties. References Albrecht, W., Stice, E. Stice, J 2011, Financial accounting, Mason, OH: Thomson/South-Western. Brigham, E. Daves, P 2012, Intermediate Financial Management , USA: Cengage Choi, R.D. Meek, G.K 2011, International accounting, Pearson . Christensen, J 2011, Good analytical research, European Accounting Review, vol. 20, no. 1, pp. 41-51 Davies, T. Crawford, I 2012, Financial accounting, Harlow, England: Pearson. Deegan, C. M 2011, In Financial accounting theory, North Ryde, N.S.W: McGraw-Hill. Horngren, C 2013, Financial accounting, Frenchs Forest, N.S.W: Pearson Australia Group. Kaplan, R.S 2011, Accounting scholarship that advances professional knowledge and practice, The Accounting Review, vol. 86, no.2, pp. 367383. Learning. Libby, R., Libby, P. Short, D 2011,Financial accounting, New York: McGraw-Hill/Irwin. Melville, A 2013, International Financial Reporting A Practical Guide, 4th edition, Pearson, Education Limited, UK Merchant, K. A 2012, Making Management Accounting Research More Useful, Pacific Accounting Review, vol. 24, no.3, pp. 1-34. Needles, B.E. Powers, M 2013, Principles of Financial Accounting, Financial Accounting Series: Cengage Learning. Northington, S 2011, Finance, New York, NY: Ferguson's. Parrino, R., Kidwell, D. Bates, T 2012, Fundamentals of corporate finance, Hoboken, NJ: Wiley Spiceland, J., Thomas, W. and Herrmann, D 2011, Financial accounting, New York: McGraw-Hill/Irwin,University Press Williams, J 2012, Financial accounting, New York: McGraw-Hill/Irwin.