Lord of the Flies Book Report Profile

Ruler of the Flies Book Report Profile Ruler of the Flies, by William Golding, was distributed in 1954 by Faber and Faber Ltd of London. It is presently distributed by The Penguin Group of New York. Setting The tale Lord of the Flies is determined to a remote location some place on an island in the tropics. The occasions of the story happen during an anecdotal war. Principle Characters Ralph: A twelve-year-old kid who, at the beginning of the boys’ trial is chosen pioneer of the gathering. Ralph speaks to the sound and the socialized side of humanity.Piggy: An overweight and disliked kid who, in light of his astuteness and reason, becomes Ralph’s right-hand man. Regardless of his insight, Piggy is every now and again the object of contempt and prodding by different young men who think of him as a maverick in glasses.Jack: Another of the more seasoned young men among the gathering. Jack is as of now the pioneer of the ensemble and pays attention to his capacity. Jealous of Ralph’s political decision, Jack becomes Ralph’s rival inevitably wresting control totally away. Jack speaks to the creature nature in each one of us which, unchecked by the principles of society, rapidly declines into savagery.Simon: One of the more seasoned young men in the gathering. Simon is quiet and serene. He goes about as a characteristic foil for Jack. Plot Ruler of the Flies opens with a plane loaded with British students slamming on an abandoned tropical island. Without any grown-ups enduring the accident, the young men are left to themselves to attempt to remain alive. Promptly such a casual society jumps up with the appointment of a pioneer and the setting down of formal goals and rules. At first, salvage is chief on the aggregate brain, however it isn't well before a force battle follows with Jack endeavoring to influence the young men to his camp. Having various objectives and inconceivably various arrangements of morals, the young men separate into two clans. In the end, Ralph’s side of reason and judiciousness offers approach to Jack’s clan of trackers, and the young men sink further and more profound into an existence of fierce brutality. Inquiries to Ponder Consider these inquiries as you read the novel: 1. Inspect the images of the novel. What is the imagery of the face paint received by Jack’s tribe?What does the conch shell represent?Who or what is the â€Å"Lord of the Flies? Consider the cause of the expression just as its importance to the story.How does Golding use ailment to expand the purposeful anecdote in the novel? Consider Piggy’s asthma and Simon’s epilepsy as models. 2. Analyze the contention among great and underhandedness. Are individuals innately acceptable or bad?How are the estimations of the youngsters painted to adjust them to a particular side?How is this novel a moral story for society in general? 3. Think about the topic of the loss of guiltlessness. In what ways do the young men have their blamelessness taken from them?Are there any characters that appear to have no honesty from the beginning and what is their motivation in the novel? Conceivable First Sentences Master of the Flies is a moral story for society at large.Innocence isn't stripped, it is surrendered.Fear and control are frequently discovered together in society.Is profound quality a natural component of character?

Rbi’s Debt Management and Monetary Policy Essay Example for Free

Rbi’s Debt Management and Monetary Policy Essay I have demonstrated you in class, utilizing the IS-LM model, how the over two jobs of the RBI presents a contention between the ideal places of the LM bend and in this manner the balance loan fee. Some of you have communicated enthusiasm for find out about this discussion. Hence here are the two contradicting perspectives. For the movement: On this side of the discussion is the administration which underpins a free Debt Management Office (DMO) that is independent from the RBI. The legislature has gotten support from the Report of the Internal Working Group on Debt Management which has called attention to three clashes that emerges from the current plan: â€Å"If the Central Bank attempts to be a compelling obligation director, it would lean towards selling bonds at significant expenses, for example keeping financing costs low. This prompts an inflationary inclination in money related policy.† Second â€Å"if the Central Bank attempts to work admirably of releasing its obligation of selling securities, it has a motivating force to order that banks hold a lot of government paper.† Third, â€Å"if the Central Bank controls the working frameworks for the administration protections markets, as the RBI at present does, this makes another contention, where the proprietor/overseer of these frameworks is additionally a member in the market.† The Percy Mistry Committee on Making Mumbai an International Financial Center (IFC) suggested the setting up of a self-governing DMO by saying that â€Å"looking ahead, a sound open obtaining system for India would consolidate three components. . . A free Indian â€Å"debt the board office† working either as a self-sufficient organization or under the Ministry of Finance that consistently unloaded a huge quantum of INR named bonds in an IFC in Mumbai. The size of these sales would be significant by world gauges and would improve Mumbai’s height as an IFC.† The Raghuram Rajan board of trustees on Financial Sector Reforms (A Hundred Small Steps) has contended against RBI giving the â€Å"investment banking† capacity to the legislature as â€Å"this includes an irreconcilable circumstance, since the administration would profit by lower loan costs, which the RBI has some command over. Financial specialists in the security market may likewise see the offer of securities by RBI to be educated by a feeling of how loan fees will develop in theâ future. At long last, the RBI is the controller of banks. Banking management could be misshaped by the longing to sell bonds at an alluring price.† Media pundits have likewise bolstered the movement. See for example Ajay Shah writing in the Business Standard,Ila Patnaik writing in the Indian Express, Shruthi Jayaram writing in the Financial Express, S. Narayan writing in the Mint. Likewise observe what the Stanford University’s Policy Brief and the Bank for International Settlements feel about this issue. Against the movement: Typically the RBI is restricting the above perspectives. See this Business Standard report which cites RBI Governor Dr Subbarao as saying that Only national banks have the imperative market heartbeat and instruments to help in making logical decisions which an autonomous obligation office, driven by thin destinations, won't have the option to do. The Governor further said that so as to accomplish money related and budgetary strength, division of obligation the executives from national bank is by all accounts a problematic decision. The case for moving obligation the board work out of the national bank is made on a few contentions, for example, settling irreconcilable situation, decreasing the expense of obligation, encouraging obligation union and expanding straightforwardness. These favorable circumstances are exaggerated, Dr Subbarao said. He said advertise borrowings are the significant wellspring of deficiency financing at state level and such borrowings are surpassing the absorp tive limit of the market. That makes it basic to orchestrate the market getting projects of the Center and the states. Partition of the Centers obligation the board from the national bank will make such harmonization troublesome, Dr Subbarao included. He said even globally, there is nearer relationship between the national save money with sovereign obligation the board for appropriate fiscal approach and budgetary solidness. Likewise observe this Business Line report which cites Dr Subbrao as saying that â€Å"the gaining from the ongoing worldwide emergency is that those frameworks where national bank oversees government obligation are progressively compelling. At the point when financial deficiency is as high all things considered in India, it isn't just about obligation the executives in the ordinary sense. It has bigger ramifications for liquidity the board and money related strategy transmission. The equalization of preferred position would lie in the RBI proceeding to oversee open obligation until financial shortfall boils down to truly agreeable levels.† RBI’s inner researchâ supports the above view by exhibiting that loan fees have not been influenced by the government’s getting program (a point made by some of you in class). A few media pundits have additionally upheld RBI’s (see this article in the Economic Times). You will be delighted to realize that Dr Subbarao himself was a backer of an autonomous DMO when he used to work for the administration! The disarray over this issue was confirm by the Rakesh Mohan Committee on India’s Financial Sector Assessment which opined for an autonomous DMO with the executive (an ex-agent legislative leader of the RBI) contradicting the committee’s see! Rear end: The RBI appears to have accommodated to the setting up of a free DMO however is demanding that they be accountable for running the workplace (so much for autonomy)! See this report from the Financial Express. At long last you may appreciate perusing this article from the Economic Times on â€Å"Chidambaram versus Subbarao: How clashes among govt and RBI could prompt better strategy making†.

3 New CoSchedule Features You Should Know About (+1 On The Way)

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Donne the Cartographer Mapping, Writing, and Female Agency in “The Good Morrow” and “A Valediction of Weeping” - Literature Essay Samples

In her book Maps and Memory in Early Modern England: A Sense of Place, Rhonda Lemke Stanford discusses the importance of maps in early modern English literature. She explores how mapping metaphors are not â€Å"merely another trope of description,† but how poets and authors use early modern techniques of mapping to inform the structure of their writing; as a result, she claims that often in early modern writing, â€Å"a poet describes the details of the landscape and the architecture as a surveyor might, and a female poet names and describes parts of London as a cartographer would† (14-5). Notably absent from her study, however, is an in-depth review of the work of John Donne, who frequently employs images of maps in his poetry. Stanford groups Donne, along with Shakespeare, as an author who often employs maps as a metaphor for â€Å"sexual congress and/or conquest,† and whose poetry maps out â€Å"woman as a land or country to be conquered† (140-1, 59) . In contrast to this assertion, I argue that Donne in fact uses maps in exactly the way Stanford’s book proposes: rather than acting as stagnant images, the maps in Donne’s poetry are constantly in flux, and the way maps are continually made and un-made serves as a comment on representation and creation, and parallels Donne’s project in writing poetry. Two of Donne’s poems dealing with the theme of map-making are â€Å"The Good Morrow† and â€Å"A Valediction of Weeping.† In these poems, rather than using the map as a means of understanding the body, as Stanford claims he does, Donne’s process of mapping instead reflects on his ability to create poetry; perhaps most interestingly, rather than being a subject of the poet’s mapping, the women in both poems become unlikely co-cartographers. The map is one of the most commented-on images in Donne’s poetry; many of these varied interpretations of Donne’s maps, how ever, share a common thread in that they look to tie Donne’s maps, as Stanford does in her book, to the body. The map image in â€Å"The Good Morrow,† is the subject of essays by both Richard Sharp and Julia Walker: both grapple with the paradox that Donne presents the two lovers as simultaneously two separate â€Å"hearts† and â€Å"faces,† and also two â€Å"hemispheres† of the same whole, in the following four lines:â€Å"My face in thine eye, thine in mine appears,And true plain hearts do in the faces rest;Where can we find two better hemispheresWithout sharp north, without declining west?† (15-8)In order to make sense of these lines, Sharp assumes that Donne must have been using a cordiform map as the source of his image; in this way, Sharp seeks to overlay the body onto the map by giving the map a heart shape. In looking to tie Donne’s images of the body to language in her essay â€Å"Donne: ‘But Yet the Body is His Boo ke’,† Elaine Scarry notes that when â€Å"Donne continually takes an inventory of the body,† he often finds it â€Å"coinhabited by towns,† â€Å"names,† â€Å"lens[es],† and â€Å"compass[es],† all of which evoke the image of the map, as well (91). The consensus, it seems, is that the map serves as a metaphor for the body, and that mapping represents Donne’s exploration and categorization of the body’s surfaces.I do not deny that the trope of body-as-map is certainly present in Donne’s poetry, and this is evident in the two poems I have chosen. In both these poems, Donne employs metaphors in which maps are the vehicle and the body is the tenor. Walker is correct in noting that â€Å"The Good Morrow† is a â€Å"complex pasticcio of eyes, maps, hearts, and hemispheres† (61). The body that Donne describes in this poem, however, is not a woman but a de-gendered body: Donne leaves the subject of the w oman’s feminine â€Å"beauty† to focus instead on the lovers’ shared â€Å"true plain hearts,† â€Å"faces,† and â€Å"eyes† (6, 15, 16). In this image, Donne’s speaker is both map-maker and the subject, as he maps his body onto his beloved’s, and vice versa. â€Å"A Valediction of Weeping† uses the metaphor of a globe to describe the beloved’s tear; the tear quickly grows and becomes its own â€Å"a globe, yea world,† providing a complex interplay between vehicle and tenor (16).In these metaphors, maps do serve, in one sense, as a means to describe the body. In privileging the tenor of the metaphor (the body), however, one risks reading reductively and missing the complexity of the map and the way it functions as a nuanced image. In both these poems, Donne is literally concerned with space and place, and the map is key to understanding and manipulating these concepts: in â€Å"The Good Morrow,† Donne wants to eliminated the space between his speaker and his beloved; in â€Å"A Valediction of Weeping† (as in â€Å"A Valediction Forbidding Mourning†), he wants to eliminate the threat that travel, being â€Å"on a divers shore,† poses to his union (9). As a result, these poems are as much about manipulating place through map-making as they are about love (indeed, the map image literally lies at the center of these two poems) and map-making and playing with space is the means by which Donne can attain his vision of union with his beloved.In paying more attention to the map as a central image in these two poems, it is important to note that the map is not a static image; rather, both poems describe a process of map-making. This is most evident in â€Å"A Valediction of Weeping,† in which â€Å"a workman† places â€Å"an Europe, Afric, and an Asia† onto a blank globe (11, 12). Donne is careful to emphasize that the globe begins as â⠂¬Å"nothing,† just â€Å"a round ball,† but through the workman’s craft becomes â€Å"all,† highlighting the process as well as the finished product (10, 13). The map in â€Å"The Good Morrow† is also described as in motion: north is â€Å"sharp,† suggesting a turn, while west is â€Å"declining† (18). The poem also describes â€Å"sea discoverers† traveling to and mapping out â€Å"new worlds,† again emphasizing maps in the process of being created (12-3).These images of the workman creating a globe and of discoverers charting the new world are paralleled by the act of writing poetry itself. In writing, Donne assumes the power and agency of the workman or cartographer to manipulate space within the poems; this fits into Franz Reitinger’s assertion about early modern maps that â€Å"the graphic formula of cartography lent itself to be used in attempts at extensive overview and control, and the map became the mo dus scribendi for phenomena that were otherwise not readily comprehensible† (111 emphasis mine); Donne uses the power of mapping to gain control over his speaker’s relationship with his beloved, and to circumvent any obstacles that separation and distance might pose. In â€Å"A Valediction of Weeping,† place causes a problem: Donne’s speaker claims that he and his lover â€Å"are nothing then, when on a divers shore† (9); indeed, as a valediction, the poem is occasioned on the speaker’s imminent departure, as he fears what the â€Å"sea†¦may do too soon,† and that the wind may â€Å"do me more harm than it purposeth† as he travels over the water (22, 25). Rather than remaining victims of separation, however, Donne uses the rest of the poem to create an alternative â€Å"map,† in which the beloved becomes the world, the â€Å"sphere† in which the speaker might be drowned (20). The way Donne seeks to name and chart places in the poem mimics the way a cartographer draws out a map. These tears even â€Å"overflow / this world† indicating that Donne’s new world has overtaken the old (17-8). Donne’s new envisioning of the world allows his speaker to remain with his beloved throughout the journey, because she is the entire world, eliminating the threat of separation.â€Å"The Good Morrow† deals with space on a much smaller scale than the worldly imagery of â€Å"A Valediction of Weeping.† The poem specifically posits that love can assume power and control over place: â€Å"For love all love of other sights controls, / And makes one little room an everywhere† (11). In addition, the speaker and his beloved condense the â€Å"worlds on worlds† that â€Å"maps† show into a singular world that only they inhabit, again creating an alternative â€Å"map† that privileges the lovers (11, 13-4). The speaker wants to fuse his and his b eloved’s bodies and identity into one, and uses the mapping trope to do this, as well: at the beginning of the third stanza, the speaker maps his face into his beloved’s eye, and then maps hers into his, relocating the lovers within each other and eliminating the physical space between them (15). Here, Donne is not mapping out a body that already exists, but is instead creating an entirely new one. In both poems, Donne solves the lovers’ problems by allowing the poem to act as an alternate world in which space and place work with the lovers rather than against them.In examining the map-making process in these poems, however, it becomes clear that Donne’s male speaker (or Donne himself, as male author) does not have sole authority and power as cartographer; rather, in both poems, the female beloved takes an active role in map-making, as well. The agency that these women have challenges and complicates the notion put forth by Rebecca Ann Bach that Donneà ¢â‚¬â„¢s work is pervaded by â€Å"a virulent sexual misogyny† (262). In â€Å"A Valediction of Weeping,† it is the woman who cries the tears that become the world; in the previous stanza, as well, she â€Å"coins† the speaker’s tears with her â€Å"stamp† (3). In both these metaphors, Donne uses language of craftsmanship and trade (through the imagery of coins and building), concepts usually belonging to the public, masculine sphere, to describe the woman’s actions and reinforce her agency. â€Å"The Good Morrow† gives the woman agency by positing a kind of collaborative, shared identity between the lovers: in creating his new vision of the world, the speaker says, â€Å"let us possess one world,† placing an emphasis on the lovers’ shared agency (14 emphasis mine). The woman in â€Å"The Good Morrow† is not like the other nameless women the speaker â€Å"desired, and got,† because rather than being pos sessed, she is now a possessor (7). The idea that the speaker and his beloved are â€Å"mix’d equally† truly speaks to the shared sense of power and control the lovers have in these two poems, and to how essential the woman is to Donne’s process of mapping (19). In this way, as Stanford notes, Donne’s map imagery does indeed relate to gender; however, rather than having her gendered body mapped by the poet, the woman is instrumental in creating the map herself.In both â€Å"The Good Morrow† and â€Å"A Valediction of Weeping,† the process of mapping is what ultimately solves the problem that faces the lovers in the poem, that of physical separation. Viewing map-making as a central process informing Donne’s poetry, rather than merely as a symbol meant to comment on something else, yields new complexity to the map images in the rest of Donne’s work: the most famous image that can be re-interpreted in this way is the compass at the end of â€Å"A Valediction Forbidding Mourning.† Few note that the compass itself is a tool of map-making, and, as in â€Å"The Good Morrow† and â€Å"A Valediction of Weeping,† the compass allows the speaker and his beloved to remain together not only because they are literally connected, but also perhaps because it has the potential to re-draw the map that threatens to separate them; again, as the woman stands as one leg of the compass, she is instrumental in the process of mapping. By writing about place and using mapping as a technique for writing, Donne bridges the distant spaces between his speaker and his beloved, between science and art, and between traditional masculine and feminine spheres of agency within the world of his poems.â€Æ'Works CitedBach, Rebecca Ann. â€Å"(Re)placing Donne in the History of Sexuality.† ELH 72 (2005): 259-89.Donne, John. â€Å"The Good Morrow.† Songs and Sonnets. Luminarium. (January 2000). [12 Marc h 2010].. â€Å"A Valediction of Weeping.† Songs and Sonnets. Luminarium. (January 2000). [12 March 2010].Scarry, Elaine. â€Å"Donne: ‘But Yet the Body is His Booke.’† Literature and the Body: Essays on Populations and Persons. Ed. Elaine Scarry. Baltimore: Johns Hopkins U P, 1988: 70-105.Sharp, Robert L. â€Å"Donne’s ‘Good Morrow’ and Cordiform Maps.† Modern Language Notes 69 (1954): 493-5.Stanford, Rhonda Lemke. Maps and Memory in Early Modern England: A Sense of Place. New York: Palgrave, 2002.Walker, Julia M. â€Å"The Visual Paradigm of ‘The Good Morrow’: Donne’s Cosmographical Glasse.† The Review of English Studies 37.145 (Feb. 1986): 61-65.

The Role of God in Miracles - 916 Words

In the Christian faith, miracles are critical and authentic to the Gospels. A miracle is a difficult term to define because it depends on the individual’s perspective and experience. Generally speaking, miracles can be considered to be natural and unnatural acts of God or series of unlikely events occurring concurrently– coincidences. I believe miracles and coincidences can both be seen as a series of unlikely event, but miracles have a God component to it. Coincidences on the other hand, do not involve God and are non-existent. I view miracles and coincidences as epistemic. It is because of our lack of ability to predict the future that when unexpected events occur, they can be viewed as either coincidences or miracles. For example, if a woman was supposed to die because of a failing immune system by a certain time period, but lived beyond that time period, then foreseeing the woman’s survival was impossible because human knowledge is limited to the present. Furthermore, this incident can be considered a miracle for a religious person or a coincidence for an atheist. From an atheist point of view, the woman’s survival was due her immune system coincidentally being able able to randomly support life longer than expected -without God’s involvement. For a person of faith, the woman’s survival is seen as a miracle because it is an unlikely event that could have only occurred due to God’s purposeful intervention. I don’t believe in coincidences because every instance in lifeShow MoreRelatedBelieving in Miracles Essay834 Words   |  4 PagesBelieving in Miracles An important stage in this course of RE is that of the belief in God. The belief in God has many different aspects to learn, one of which is the belief in miracles and how miracles lead us to believe that God exists. This essay will look at the two sides of believing in miracles. On one side of the debate is that of why miracles lead us to believe in God? 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Renewable Is Sustainable For Renewable Energy - 1105 Words

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Business Accounting Vertical Business Analysis

Question: Discuss about the for Business Accounting for Vertical and Horizontal Business Analysis. Answer: 1) (a) Vertical Analysis of Income Statement of SIA Ltd.: Vertical analysis of Income Statement of SIA Ltd. for period ending 31 March 2015 and 2014 2015 2014 Amount ($) Percent (%) Amount ($) Percent (%) Revenue 15,565.50 100% 15,243.90 100% Expenditure Staff costs 2,335.20 15.00% 2,336.70 15.33% Fuel costs 5,579.70 35.85% 5,702.10 37.41% Depreciation 1,538.80 9.89% 1,575.50 10.34% Impairment of property, plant and equipment 1.5 0.01% 20.2 0.13% Amortization of intangible assets 25.9 0.17% 25.7 0.17% Aircraft maintenance and overhaul costs 668.6 4.30% 641.8 4.21% commission and incentives 375.6 2.41% 346.6 2.27% Landing, parking and overflying charges 747.9 4.80% 716.6 4.70% Handling charges 1,066.20 6.85% 1,038.70 6.81% Rentals on leased aircraft 839.5 5.39% 649.5 4.26% Material cost 176.7 1.14% 223.1 1.46% In flight meals 553.5 3.56% 549.1 3.60% Advertising and sales costs 258.5 1.66% 257.6 1.69% Insurance expenses 44.9 0.29% 41.5 0.27% Company accommodation and utilities 119.5 0.77% 119.1 0.78% Other passenger costs 175 1.12% 173.3 1.14% Crew expenses 146.4 0.94% 144.7 0.95% Other operating expenses 502.7 3.23% 422.8 2.77% 15,156.10 97.37% 14,984.60 98.30% Operating profit (Revenue - Expenditures) 409.4 2.63% 259.3 1.70% Finance charges -49.6 -0.32% -37.3 -0.24% Interest income 74.9 0.48% 62.7 0.41% Surplus on disposal of aircraft, spares and spare engines 51.9 0.33% 51.2 0.34% Dividends from long-term investments 13.2 0.08% 19.6 0.13% Other non-operating items -14.3 -0.09% 1.9 0.01% Share of profits of joint venture companies 52 0.33% 94 0.62% Share of losses of associated companies -129.1 -0.83% -45.2 -0.30% Profit before exceptional items 408.4 2.62% 406.2 2.66% Exceptional items 34.5 0.22% -38.3 -0.25% Profit before taxation 442.9 2.85% 367.9 2.41% Taxation -36.2 -0.23% 56.5 0.37% Profit for the financial year 406.7 2.61% 424.4 2.78% Note: All amounts are in million $ (Annual report of Singapore airlines, 2015). Vertical analysis of income statement shows relation between all available items of profit and loss account. All items in income statement represents as a percent of total revenue or sale (Albrecht, Albrecht, Albrecht Zimbelman, 2011) As per the vertical analysis of income statement of SIA limited, revenue increases in 2015 while percentage of expenses decreases and profit for the year decreases due to taxation in 2015 with compare to 2014. It shows that companys performance is not good. Companys expenses are high so it is getting low profits. Although SIA Ltd reduces expenses in 2015 but percentage of reduction of expenses is low so company should reduce its expenses more to getting high profits. It will also improve the performance of company. (b) Horizontal Analysis of Income Statement and Balance Sheet of SIA Ltd.: Horizontal analysis of Income Statement of SIA Ltd. for period ending 31 March 2015 and 2014 2015 2014 Decrease / Increase Amount ($) Amount ($) Amount ($) Percent (%) Revenue 15,565.50 15,243.90 321.60 2.11% Expenditure Staff costs 2,335.20 2,336.70 -1.50 -0.06% Fuel costs 5,579.70 5,702.10 -122.40 -2.15% Depreciation 1,538.80 1,575.50 -36.70 -2.33% Impairment of property, plant and equipment 1.5 20.2 -18.70 -92.57% Amortization of intangible assets 25.9 25.7 0.20 0.78% Aircraft maintenance and overhaul costs 668.6 641.8 26.80 4.18% commission and incentives 375.6 346.6 29.00 8.37% Landing, parking and overflying charges 747.9 716.6 31.30 4.37% Handling charges 1,066.20 1,038.70 27.50 2.65% Rentals on leased aircraft 839.5 649.5 190.00 29.25% Material cost 176.7 223.1 -46.40 -20.80% In flight meals 553.5 549.1 4.40 0.80% Advertising and sales costs 258.5 257.6 0.90 0.35% Insurance expenses 44.9 41.5 3.40 8.19% Company accommodation and utilities 119.5 119.1 0.40 0.34% Other passenger costs 175 173.3 1.70 0.98% Crew expenses 146.4 144.7 1.70 1.17% Other operating expenses 502.7 422.8 79.90 18.90% 15,156.10 14,984.60 171.50 1.14% Operating profit (Revenue - Expenditures) 409.4 259.3 150.10 57.89% Finance charges -49.6 -37.3 -12.30 32.98% Interest income 74.9 62.7 12.20 19.46% Surplus on disposal of aircraft, spares and spare engines 51.9 51.2 0.70 1.37% Dividends from long-term investments 13.2 19.6 -6.40 -32.65% Other non-operating items -14.3 1.9 -16.20 -852.63% Share of profits of joint venture companies 52 94 -42.00 -44.68% Share of losses of associated companies -129.1 -45.2 -83.90 185.62% Profit before exceptional items 408.4 406.2 2.20 0.54% Exceptional items 34.5 -38.3 72.80 -190.08% Profit before taxation 442.9 367.9 75.00 20.39% Taxation -36.2 56.5 -92.70 -164.07% Profit for the financial year 406.7 424.4 -17.70 -4.17% Note: All amounts are in million $. Horizontal analysis of income statement shows increase or decrease in amount or percent of current year, on the basis of previous year (Gibson, 2012). Horizontal analysis shows that revenue increases by 2.11% while expenditures increases only 1.14% and profit for the year decreases by 4.17% in 2015 with compare to 2014 of SIA Ltd. Company should reduce its expenditures to increasing revenue. Profits of the company reducing due to charges of taxation. Horizontal analysis of Balance Sheet of SIA Ltd. as at 31 March 2015 and 2014 2015 2014 Increase / Decrease Amount ($ millions) Amount ($ millions) Amount ($ millions) Percent (%) Equity attributable to owners of the Parent Share capital 1,856.10 1,856.10 0.00 0.00% Treasury shares -326.3 -262.2 -64.10 24.45% Other reserves 10,049.50 10,518.20 -468.70 -4.46% 11,579.30 12,112.10 -532.80 -4.40% Non-controlling interests - - - - Total equity 11,579.30 12,112.10 -532.80 -4.40% Deferred account 115.1 213.1 -98.00 -45.99% Deferred taxation 1,325.50 1,516.20 -190.70 -12.58% Long-term liabilities 1,001.00 800 201.00 25.13% Provisions 682.9 555.8 127.10 22.87% Defined benefit plans 152.4 162 -9.60 -5.93% 14,856.20 15,359.20 -503.00 -3.27% Represented by: Property, plant and equipment Aircraft, spares and spare engines 7,700.30 8,378.10 -677.80 -8.09% Land and buildings 59.9 64.9 -5.00 -7.70% Others 2,146.20 1,815.90 330.30 18.19% 9,906.40 10,258.90 -352.50 -3.44% Intangible assets 159.4 157.9 1.50 0.95% Subsidiary companies 3,364.70 2,021.60 1,343.10 66.44% Associated companies 472.4 313.5 158.90 50.69% Joint venture companies Long-term investments 1,100.20 1,045.10 55.10 5.27% Other receivables 17.9 92.2 -74.30 -80.59% Deferred account 36.3 - 36.30 - Current assets Inventories 131.7 169.2 -37.50 -22.16% Trade debtors 993.7 1,113.20 -119.50 -10.73% Deposits and other debtors 22.5 20.3 2.20 10.84% Prepayments 92.9 83.5 9.40 11.26% Amounts owing by subsidiary companies 311.5 599.9 -288.40 -48.07% Investments 102.7 233.3 -130.60 -55.98% Derivative assets 107 133.3 -26.30 -19.73% Cash and bank balances 4,646.50 4,623.80 22.70 0.49% Assets held for sale - - - - 6,408.50 6,976.50 -568.00 -8.14% Less: Current liabilities Sales in advance of carriage 1,328.60 1,376.40 -47.80 -3.47% Deferred revenue 612.5 572.9 39.60 6.91% Current tax payable 111.4 161.8 -50.40 -31.15% Trade and other creditors 2,088.60 2,287.40 -198.80 -8.69% Amounts owing to subsidiary companies 1,048.70 1,034.80 13.90 1.34% Finance lease commitments - - - - Loans - - - - Notes payable 300 - - - Provisions 138 44 94.00 213.64% Derivative liabilities 981.8 29.2 952.60 3262.33% 6,609.60 5,506.50 1,103.10 20.03% Net current assets/(liabilities) -201.1 1,470.00 -1,671.10 -113.68% 14,856.20 15,359.20 -503.00 -3.27% Horizontal analysis of balance sheet represents increase or decrease in assets or liabilities in current year, on the basis of previous year (Hermanson, Edwards Ivancevich, 2006). Horizontal analysis of balance sheet of SIA limited shows that companys financial position is not good. As companys total equity reducing by 4.40% and current assets are decreasing by 8.14% while current liabilities increasing by 20.03% so net current assets decreasing with 113.68% which is too high decrement. So it is advised to company that liabilities should be decreases to improve the financial position of organisation. 3) Ratio Analysis: Ratio analysis is a process of determining relation between two figures of financial statements. It is beneficial to know financial position of company. Ratios are useful in identify companys performance by comparing data of two or more years. Calculation of Ratio analysis: Particulars Ratio Calculation 2015 2014 Liquidity Ratios Current Liabilities 6,609.60 5,506.50 Current Assets 6,408.50 6,976.50 Current Ratio Current Assets / Current Liabilities 0.969574558 1.266957232 Stock 131.7 169.2 Prepaid Expenses 92.9 83.5 Liquid Assets Current Assets - Stock Prepaid Expenses 6,183.90 6,723.80 Liquid Ratio Liquid Assets / Current Liabilities 0.935593682 1.221066013 Cash and bank balances 4,646.50 4,623.80 Marketable securities / Short term investment 102.7 233.3 Absolute Liquid Assets Cash in hand + Cash at bank + Marketable securities 4,749.20 4,857.10 Absolute Liquid Ratio Absolute liquid assets / Current liabilities 0.718530622 0.882066649 Expenses 15,156.10 14,984.60 Revenue 15,565.50 15,243.90 Efficiency Ratio Expenses / Revenue 0.973698243 0.982989917 Stock Turnover Ratio Net Sales / Inventory 118.1890661 90.09397163 Receivable turnover ratio Net credit sales / Average account receivable 15.66418436 13.69376572 Working Capital Current Asses - Current Liabilities -201.10 1,470.00 Working Capital Turnover Ratio Net Sales / Working Capital -77.40179015 10.37 Tangible Assets 9,906.40 10,258.90 Intangible Assets 159.4 157.9 Fixed Assets Tangible + Intangible Assets 10,065.80 10,416.80 Fixed Assets Turnover Ratio Net Sales / Fixed Assets 1.546374853 1.463395669 Capital Turnover Ratio Sales / Capital Employed 1.344252243 1.258567878 Profitability Ratio Operating Profit 409.4 259.3 Operating Profit Ratio (Operating Profit / Net Sales) * 100 2.630175709 1.701008272 Net profit after tax 406.7 424.4 Net Profit Ratio (Net profit after tax / Net Sales) * 100 2.612829655 2.784064445 Shareholder's fund / Equity / Capital Employed 11,579.30 12,112.10 Return on Investment Ratio [Net profit (after interest and tax) / Shareholder's fund] * 100 3.512302125 3.503934082 Fixed Assets 9,906.40 10,258.90 Gross capital employed Fixed Assets + Current Assets 16,314.90 17,235.40 Return on capital employed Ratio (Net profit after taxes / Gross capital employed) * 100 2.492813318 2.462373951 No. of equity shares 1,199,851,018 1,199,851,018 Earnings per share ratio Net profit after tax and preference dividend / no. of equity shares 338.958749 353.7105804 Solvency Ratio Long Term Liabilities 1001 800 Debt - Equity Ratio External Equity / Internal Equity or Long term debt / Shareholder's Fund 0.086447367 0.066049653 Total Assets (14856.20+6609.60) and (15359.2+5506.5) 21,465.80 20,865.70 Proprietary Ratio Shareholder's Fund / Total Assets 0.539430163 0.580478968 Equity share capital 1,856.10 1,856.10 Fixed Interest Bearing Funds Debentures + Preference Share Capital + Other Long Term Loan 1001 800 Capital Gearing Ratio Equity share capital / Fixed Interest Bearing Funds 1.854245754 2.320125 As per ratio analysis, companys liquidity ratios are decreasing in 2015 with compare to 2014 while turnover ratios are increasing in 2015. Earnings per share are decreasing in 2015. It shows companys financial position is not strong. 4) Comment on businesss performance and financial position from the viewpoint of a director: By analysis of income statement, it is found that companys revenue, expenditures, operating profit and profit before tax are increased in 2015 from 2014. But final profit for the year decreases due to adjustment of taxation. Singapore airlines financial position is not good. In 2014 currents assets are more than current liabilities but in 2015, current assets are less than current liabilities. The standard current ratio for strong company must be 2:1. Means current assets should be double of current liabilities. In 2014, current ratio is 1.27:1 whether in 2015 it falls down to 0.97:1. This shows that companys current assets are less than its current liabilities. It shows, Singapore airlines find difficulty to pay its liabilities. The satisfactory quick or liquid ratio must be 1:1. Singapore airlines liquid ratio in 2014 was 1.22:1 which falls to 0.94:1 in 2015. It reflects that companys liquidity position falls down which is not good. If absolute liquid ratio is 1:2, then it is optimal. Singapore airlines absolute liquid ratio in 2014 was 0.88 and in 2015 was 0.72. It is quite satisfactory because optimum value is 50%, while absolute liquid ratio is higher than optimum value. Relation between net sales or revenue and other items (like inventory, working capital, fixed assets and capital employed) is known as turnover / efficiency / performance / activity ratio. These ratios can help in improving efficiency or performance of business. Stock turnover tells, whether investment in stock is efficiently utilized or not. It also indicates, how many times the inventory turnover in business during a financial year. In 2014, it is 90.09 times which increases in 2015 to 118.19 times. It reflects that investment in stock is utilized effectively. Working capital turnover ratio tells about the effective utilization of working capital. If working capital ratio is higher, it is good and shows proper utility of working capital. In 2014, it is 10.37 times which is good but in 2015, it is negative due to negative working capital. Working capital is negative in 2015 because current liabilities are higher than current assets. By the use of fixed assets turnover ratio, performance of asset management can be identified. Higher fixed asset turnover ratio shows effective utilization of fixed assets. Singapore airlines fixed asset turnover ratio increases in 2015 compare to 2014. It highlights utilization of fixed assets increases. Efficiency in capital utilization can be identified by capital turnover ratio. In 2015, it is higher than 2014. So it tells, performance of business is good. Profitability ratio shows profit earning capacity of business. Singapore airlines operating profit ratio increases in 2015 with compare to 2014 but net profit ratio decreases in 2015 with compare to 2014. This net profit ratio decreases due to adjustment of taxation. Return on investment ratio and return on capital employed ratio increases in 2015 which shows good financial position of company and it is also beneficial for shareholders of company. Solvency ratio is used to know the capacity of business to fulfill its short-term and long-term obligations. Ideal debt-equity ratio is 1:1. The companys debt- equity ratio is less than 1 which is not good. Capital gearing ratio was better in 2014 with compare to 2015. Finally as per financial statements and ratio analysis, overall business performance and financial position is good (Morris, McKay Oates, 2009). References: Albrecht, W. S., Albrecht, C. O., Albrecht, C. C. Zimbelman, M. F. 2011. Fraud Examination. (e.d. 4). Cengage Learning Axel, T. 2012. Ratio Analysis Fundamentals: How 17 Financial Ratios Can Allow You to Analyse Any Business on the Planet: RatioAnalysis.net Gibson, C. H. 2012. Financial Reporting and Analysis. (e.d. 13). Cengage Learning Hermanson, R. H., Edwards, J. D. Ivancevich, S. H. 2006. Managerial Accounting. (e.d. 8). Freeload Press, Inc. Morris, G. D., McKay, S. Oates, A. 2009. Finance Directors Handbook. Elsevier Peterson, P. P. Fabozzi, F. J. 2012. Analysis of Financial Statements. (e.d. 2). John Wiley Sons Singapore airlines. 2015. The Path of Progress Annual Report. Retrieved on 22 Aug 2016 from https://www.singaporeair.com/en_UK/sg/about-US/information-for-investors/annual-report/