Vulnerable Population Homeless Mothers Essay Example | Topics and Well Written Essays - 2750 words

Helpless Population Homeless Mothers - Essay Example In light of mental issue, destitute moms are at expanded inconvenience as they are less inclined to use open help assets, are alienated from family and other encouraging groups of people, have expanded paces of detainment, and experience unbalanced medical issues. All the while, mental scatters among destitute moms related to history of youth sexual maltreatment, the experience of grown-up accomplice viciousness, and a PTSD conclusion make this populace bunch being incredibly helpless against substance misuse. With the ID of two wellbeing related issues of destitute moms, this paper examinations these issues from the general wellbeing viewpoint and from the point of view of national Healthy People 2010 program. Paper demonstrates different mediation programs just as national supporting methodologies intending to help destitute moms and increment their personal satisfaction and wellbeing. Today, vagrancy is all over and has various appearances. Social endeavors tending to vagrancy extend from help to recovery with associations expecting to offer help administrations to upgrade the personal satisfaction of destitute people, offer types of assistance that adjust the course of vagrancy bringing about independence and long haul autonomous living, or are determined to closure vagrancy through and through (US Interagency Council on Homelessness, 2008). From the commonsense point of view, it is hard to create generalizable factual data with respect to the pervasiveness and segment attributes of vagrancy. Basically, the best way to appraise the quantity of destitute people is to make a cross-sectional evaluation in a particular area during a particular timeframe. Along these lines data about who is destitute shifts relying upon the long stretch of appraisal, the geographic area evaluated, and member enrollment and information assortment systems (Burt, 2001). All things consid ered, it is realized that families comprise a prevailing social gathering found among the briefly destitute. Near a large portion of a million families are evaluated to be destitute every year making up around 33% of the destitute populace (HUD, 2007). Most by far of these families are African American or other minority gathering (Whaley, 2002). Most by far of destitute families incorporate a 20+ years old single parent with kids commonly more youthful than six years old (HUD, 2007; Weinreb et al, 2006). Pushcart and Zimmer (1999) allude to this as the feminization of neediness (p. 51) which is intelligent of gendered variations in business, training, and family obligations. The ladies who get themselves destitute regularly have exhausted their last help, be it a relative, a companion, or a monetary asset (Rog and Buckner, 2007). Concentrating on destitute moms isn't an excusal of the predicament of destitute single parents; notwithstanding, the level of fathers bringing youngsters up in covers, transitional offices, in the city, or other nonconventional lodging circumstance is strikingly lower than that of destitute moms (16% dad headed destitute families versus 84% mother-headed (HUD, 2007; Schindler and Coley, 2007)). Along these lines, while the encounters and needs of destitute dads are significant, most by far of famil ies encountering vagrancy are going by single parents, therefore destitute moms' medical problems, challenges and instructive procedures

Neolithic Revolution Paper Essay Example

Neolithic Revolution Paper Essay Example Neolithic Revolution Paper Essay Neolithic Revolution Paper Essay The Neolithic transformation prepared for present day people to progress in all parts of day by day life. During the Paleolithic time early people lived migrant ways of life and went with their more distant family. In the event that early people hadnt unearthed far mining we wouldnt have the social, financial, or strict establishments expected to frame a progress. In any case, the disclosure of a more prominent food source doesnt fundamentally mea n better lives for everybody. Farming has its drawbacks and lead to subjection, patriarch y, and the adjustment of nature. The disclosure of horticulture finished the way to m Idem people to turn into a propelled human progress. At the point when early people started to cultivate it made a social structure for present civic establishments (Crash Course). Social structures are social associations based o n comparable qualities between various connections. These social structures started Neolithic towns, for example, Mesopotamia in which when individuals started to cultivate it I dead to a food overflow. Mesopotamia was situated between the Euphrates and Tigris rive fails and is an incredible case of an early Neolithic town(Crash Course). Individuals frequently g ether around dependable assets which is the reason you see such a significant number of civic establishments around r Fivers (Acknowledge). In any case, cultivating is a truly entangled movement. So hard that pee individuals started to oppress other people and use them to make a free human la four power (Crash Course). This made a social progressive system in Mesopotamia where the SSL overhang are at the base of the chain and lords were at the top (Hierarchy Structure). Purchase tin scrounging social orders they lived in separated areas and had roaming ways of life. The eye lived any place it was wealthy in game and had reasonable nourishments (Acknowledge). The revelation of cultivating inevitably lead to work specialization.

Pasadena High Essay

Pasadena High Essay Pasadena High Essay Human life can't be estimated by to what extent one lives or the personal satisfaction one drove. Humanities heritage is surveyed by ones good, social, and profound convictions. To the investigation of societies society can examine the bunch methods for being brought into Essence by human brain. By inspecting imperiled societies, society can watch singular conviction, progress, debasement, political predominance, and even the impacts of worldwide globalization. At long last society is attempting to check the ethics of progressing in the direction of more prominent's benefit supper and that is done through responding to the old inquiry, what is one life worth? Presently the current discussion is what is one life worth? To genuinely comprehend this inquiry each human needs to take a gander at their own convictions and decide whether man was brought into the world with regular conceived rights. Rather than moving in the direction of a fair-minded humankind where social assorted variety is available, mankind ought to be moving in the direction of advancing in the field of social resilience. The manner in which this can be cultivated is through instruction. Showing people the methods for others exhibits likenesses of humankind which mankind all in all will in general neglect. As people we as a whole offer the equivalent subjective capacities so it is nothing unexpected that we as a whole move, sing, and communicate. It is the beat of the move, and the tune of the tune that set societies apart. Until individuals discover that there is positively no correct method for living there will consistently be debasement. Yet, through general training, people can

What Does Dilute Mean in Chemistry

AÂ  solution containing a relatively small quantity of solute as compared with the amount of solvent. This term is the opposite of concentrated.

The Negative Effect Of Stereotypes - 1613 Words

The Negative Effect of Stereotypes in Comedy We all laugh at the things we see in the media that are perceived as funny; whether it be appropriate or offensive. One of the most popular subjects that comedians and comedy shows rely on is stereotypes. Stereotypes play a large role in society and the everyday lives of individuals. These stereotypes have resulted in blurred assumptions of others based on what we see and hear in the media. The use of stereotypes in comedy to make something funny has a negative effect. [PUT SOMETHING HERE] â€Å"Most people tell themselves to not believe stereotypes. But they do because they always see it, it’s in the back of their minds† (Kan, par. 2). The stereotypical content that we see, hear, and laugh at has a†¦show more content†¦The â€Å"funny† six-second videos posted on Vine that are discussed in this article show stereotypical behavior of black people versus white people. One stereotype described in this article is the violent and irresponsible black girl, wh o throws her baby to her friend so she can fight and the blonde â€Å"Starbucks-loving† white girl who asks her friend to hold her purse and coffee so that she can fight. Brundidge made a valid point by saying, â€Å"Many people nationwide are unaccustomed to blacks, so seeing things like that become their primary perception and when they encounter a black person they have a pre-conceived notion of us† (Kan, par. 17). I have found this to be true. When we see individuals, who belong to a certain group or do not look like us, we take the knowledge that we have received about them from the media and we automatically assume that the knowledge that we have acquired from stereotypical comedy is true. Racial stereotypes can also have a negative effect on a person’s health. Pre-assumptions, low self-esteem, and weight gain are only a few of the negative results of racial stereotyping. [PUT SOMETHING HERE] â€Å"Hispanics who associated themselves with stereotypes, such as being â€Å"lazy,† wereShow MoreRelatedNegative Effect Of Gender Stereotype1503 Words   |  7 Pagesvery relevant for the real world. The overall purpose of this study is to examine or proof the negative effects of gender stereotype in girls. The purpose has the potential to elaborate suggestions for future research. This study aim to assess children from 5 to 6 in novel and try hard games in order to demonstrates that girls’ intellectual abilities and interests in smart fields are affected by stereotype genders by the age of six. Additionally, it clearly states the variables and it addresses realRead MoreRacial Stereotypes And Its Negative Effects On Our Society2016 Words   |  9 Pag esa whole cannot help but judge one another. A stereotype is a fixed belief about someone’s religion, gender, or social group. Stereotypes can have positive and negative affects on our society. Often times, people use stereotypes to belittle a group of people. An example of a racial stereotype would include all Hispanics being illegal immigrants. Racial stereotypes always favor the race of the holder and put down other races. People use racial stereotypes because it is human nature to recognize patternsRead MoreUnderstanding the Obama Effect1068 Words   |  5 PagesThe â€Å"Obama Effect† is a theory that combats the effects of negative stereotyping, which is when a group confirms a negative social stereotype for their social group. For example, a negative stereotype is Black-Americans perform worse on tests than White-Americans, and when Black-Americans are made aware of the stereotype before testing, they perform worse than White-Americans. The â€Å"Obama Effectà ¢â‚¬  is an effect which combats the negative stereotype. When a stereotype-defying role model is very salientRead MoreAging Of Aging And Aging Essay1652 Words   |  7 PagesAs individuals age, their mental state is a large predictor of how the person will age. A positive mental state about aging, will have a more positive effect on a person’s aging process. Many factors may influence the positivity of aging, such as negative aging stereotypes and discrimination because of older age. These negative aging stereotypes include but are not limited to: older adults are not as smart, older adults are angry all the time, older adults are bad drivers, older adults are isolatedRead MoreStereotype Threat And Its Effect On Social Group836 Words   |  4 PagesWhen reminding individuals about the existing stereotype on a specific task of their social group and their membership in this specific social group, these individuals perform worse on the specific task (Steele Aronson, 199 5 in Krendl, Richeson, Kelley, Heatherton, 2008). This phenomenon is called stereotype threat. Stereotype threat is stated as the performance reducer when a negative stereotype message about someone’s own group is made salient to evaluate the performance and any of the member’sRead MoreThe Fallacies of Sterotyping Essay558 Words   |  3 Pagespeople experience stereotypes, whether the stereotype is directed at them or they are the one with the stereotype. While stereotypes can assist in making logical decisions, the fallacies of stereotyping will influence us all unconsciously, can leave people with negative lingering effects, and also misrepresent the individual. The fallacies of stereotyping will mislead people due to the unconscious influence they have on us. In medicine it is not uncommon to utilize stereotypes that are fact basedRead MoreThe Stereotypes Of Stereotypes And Stereotypes977 Words   |  4 PagesBreaking Stereotypes The labeling or stereotyping of different races often define how they are supposed to act, think, and conduct themselves within society. Stereotyping can have an extremely negative effect on individuals in a particular ethnic group that have a real potential to become something better than what their labels define them as. Stereotypes such as all Native Americans are uneducated and lazy, or all Caucasian people are racists, are assumptions that can cause hatred between racesRead MoreStereotyping Is Inevitable, By James Baldwin1717 Words   |  7 Pagesis inevitable, we all do it ad we all experience it, but this does not mean it does not effect us. Stereotypes are all around us. They effect the way we think about ourselves and the way we think about the people around us. Stereotyping leads us to act certain ways and treat people certain ways. At times it can be beneficial to a certain group, but may bring many disadvantages to others. Many times stereotypes limit us and restrictin g our success in life. In â€Å"A Letter to My Nephew,† by James BaldwinRead MoreReview of Social Psychology Book by Claude Steele1468 Words   |  6 PagesClaude Steele, in his book â€Å"Whistling Vivaldi,† sheds new light on how pervasive stereotypes can influence individual’s behavior and academic performance, and how they perpetuate in different social groups. Stereotype threat, as defined by Steele, is â€Å"being at risk of confirming, as self-characteristic, a negative stereotype about a social group one identifies with.† (Steele, 1997) It is a general phenomenon – standard predicament of life – that springs from intersubjectivity. (p.5) We tendRead MoreAgeism is Widespread in Western Societies1250 Words   |  5 Pagesperceptions of the elderly. Ageism is widespread in Western societies (Dionigi, et al, 2011). Older adults are seen as boring, grumpy irritable, weak, debilitated, mournful, and most significantly cognitively. These stereotypes which are negative can be allowed by the aged themselves negative self-stereotyping (Dionigi, et al, 2011) and are as well found among specialized caregivers (e.g., Cowan, Fitzpatrick, Roberts, While,2004). The image in relation to which older adults are more ineffectual than

Deforestation And Its Effects On Deforestation Essay

Deforestation is â€Å"the act of cutting or burning down all of the trees in an area.† The original area covered by forests was approximately six billion hectares, however the total area of land covered by forests today is only four billion hectares. The issue is only expanding, and its challenges are becoming tougher every day. In fact, approximately sixteen million hectares of forest disappear each year. Forests cover more than twenty five percent of the world’s land, and more than half of that is found in the tropics. Deforestation has been around for more than five decades, and humanity has only just begun to find the causes of the problem. Forests cover approximately thirty percent of the world’s land. Deforestation represents one of the world’s largest issues in global land usage. In fact, humans are one of the biggest influences for deforestation. Farmers use a method known as the â€Å"slash and burn† process to cut down trees and grow their crops in the soil fertilized by the ashes. Many people use commercial logging, a process in which trees are trimmed and transported in order to build mills, by chopping down vast areas of forest for profit. Wildfires and overgrazing are also large issues that contribute to deforestation. This leaves the forest vulnerable to many global and environmental consequences. Everyday carbon dioxide is returned to the atmosphere as a greenhouse gas when trees are burned, and this has great potential to alter the global climate. As a result, thereShow MoreRelatedDeforestation And Its Effects On Deforestation1505 Words   |  7 Pagesdisappear.† It’s time for the government to take action on deforestation. Rainforests are an important location for indigenous people and animals because that’s where their home belongs. Yet the government and organizations ignore those facts and just demolish their homes in order to gain a new location for productions. It’s a topic that’s constantly debated in politics and society should take a recognition on what’s happening in deforestation. More than half of the world’s rainforests are destroyedRead MoreThe Effects Of Deforestation2015 Words   |  9 PagesDeforestation is a concerning issue that has come about within the past decade that hasn’t been getting much attention. Deforestation is defined as the clearing or removal of a forest or group of trees where the land is not used for forest use afterwards. The land could be used for urbanization, farms, ranches, extra land, or anything that the country needs that piece of land for. Deforestation has become more common and the industry for it has increased rapidly. Although so many people have increasedRead MoreThe Effects Of Deforestation On The Environment845 Words   |  4 PagesWhat can one human being do to protect the environment? Our planet is shifting, we need to help it change for the better. There are many effects that can change our Globe in a shocking manner but, the good news is each individual can contribute to make a better world for our children. People across the world acquired, use, and dispose enormous multiplicity of products which helps to build our lives easier and more comfortable. However, the outcome of this can make massive damage to our environmentRead MoreThe Effects Of Deforestation On The Earth756 Words   |  4 Pagesto help the earth. Please, stop deforestation. Attention- Did you know that in approximately one-hundred years forests will be a thing of the past? Due to deforestation, it is estimated that forests will be extinct by 2116. Deforestation is when large amounts of trees, such as forests, are cut down or removed. This practice has a negative effect on the Earth overall. It has, for example, a negative impact on the land because deforestation harms the soil. In effect, it may be difficult to grow treesRead MoreThe Negative Effects Of Deforestation795 Words   |  4 PagesHuman population increase has many effects on the world around us. Deforestation is a big concern. Why is it needed? Are there other ways to build around us without cutting down a major source of our air? Is there another way to build without destroying our species habitats? Waste is just that, waste. We know and understand that something so small can eventually lead to a world of chaos. Stephen Emmott, the author of Ten Billion, states in his book, â€Å"that if population levelsRead MoreCause And Effect Of Deforestation1259 Words   |  6 Pages2 28 October 2015 Cause and Effect of Deforestation Deforestation is a problem that does not concern many people, but it is an issue that the people of Earth need to deal with. In the past 50 years deforestation has increased a significant amount, but people around the world have been removing the forests since the 1600s. The forests remaining are in danger as the human population goes up, the need for resources will also increase and this will make the deforestation of the last forests come quickerRead MoreEffects Of Deforestation On The Environment1389 Words   |  6 PagesDeforestation is one of the many problems this world faces today. Many people are unaware of how harmful deforestation can be towards the environment and the animals that inhabit the area. Many people don’t even know what deforestation is and that it’s actually happening. To sum it all up, deforestation is the process of destroying forests by cutting them down or burning the trees down, destroying hundreds of acres in order to make more land availa ble for other uses thinking that the benefits outweighRead MoreDeforestation And Its Effects On Society1308 Words   |  6 PagesDeforestation has been an increasing issue with the modern age. As new technologies and productions are introduced, space for forests and trees are removed dramatically. Although it offers massive economic benefit, it creates a portal to more issues, such as environmental and gas emissions, animal habitats, and local people in several third world countries. Contrary to popular belief, however, deforestation can also provide as a benefit. It allows people internationally to have access to a commonRead MoreEssay on Effects of Deforestation781 Words   |  4 PagesEffects of Deforestation The subject of deforestation and the effects that it has on the environment have been heavily debated for a long time; particularly over the last few years. Governments and large lumber companies see large profits in the mass deforestation of forests and state that their actions are having few, if any, harmful effects on the environment. Most people disagree with this and think that the environmental effects are devastating and will become irreversibly disastrous in theRead MoreThe Effects Of Deforestation On The Environment1379 Words   |  6 Pagesyou no choice but to run through the forest. Being separated from family members, all alone in the african desert with no home left. This issue is happening all over the place for many beloved animals yet not much is being done about it at all. Deforestation is a major issue for animals, forests are a huge source of oxygen for the wildlife surrounding them. â€Å"80% of the animals in the world live in or around forests†(National Geographic, Munita) there has been a huge increase for many species going

Business Analysis and Evaluation

Question: Case study on Billabong International Ltds. Answer: 1.0 Introduction Billabong International Ltds (BBL) is a listed company based in Australia. Its main activities relating to business is to distribute, market, retail and wholesale eye wears, wetsuits and clothing.. It is doing business in more than 100 countries and has more than 11000 stores all over the world. It has almost 6000 employees (Whelan, Woodhead and Cliff 2014). Major brands of Billabong are Von Zipper, Kustom, Sector 9, and Xcel. It was founded in the year 1973 in the gold coast of Australia. At beginning, it used to sell products locally, in the 80s it entered into world market and in 90s; it grew at an extraordinary rate. In this assignment, security market analysis, credit analysis and distress analysis will be made to understand the current and future prospects of Billabong. 2.0 Discussion In this section, a detailed analysis of Securities and credit aspects of Billabong International Ltd will be analyzed. Distress prediction will be done based on financial statement analysis and ratio derived from it, based on which recommendation will be given. 2.1 Security Analysis In this section, analysis of Billabong International Ltds tradable securities will be done and their market value will be determined, which will examine the risk and return of individual and group securities. 2.1.1 Market Efficiency: The market efficiency of Billabong can be determined from the analysis of its securities. Billabong capital structure consists of only ordinary shares and there is no debt. The debts shown in the balance sheet consists of bank overdraft, short-term borrowings (Damodaran 2016). Debt-equity ratio of Billabong is currently 0.92 which means its equity is more than debt and it is a good sign for the company. There is no need for the company to introduce more funds in the form of Debt or equity without issuing convertible debentures because it has sufficient capacity. 2.1.2 Fund management and Security analysis: The approach towards Fund management varies form company to company. In the year, 2000 billabong share was first listed in the Security Exchange of Australia when it made its Initial Public Offerings (IPO). It issued 2.6 million shares in the market. Investment can be managed actively or passively. Analysis of active portfolio depends heavily on the security analysis to calculate whether the shares of the company are mispriced or not (Klti, Kotronis and Smith 2013). While in case of passive analysis, the portfolio manager avoids the cost of security analysis and fund management is based on the market index and performance of the sector. 2.1.3 Process of Comprehensive Security Analysis: This process involves the following steps- (i) Selection of candidates for analysis: It is obviously not possible to analyze all the securities so a fraction of securities is taken on which focus is given. Fund are generally invested in stocks which carry a certain rate of return accompanied with risk. Another approach of selecting stock is to take few firms in the industry whose shares are mispriced and meet certain criteria. Various question that are addressed in this section are risk profile of the company and volatility of the stock. (ii) Market expectation: While conduction security analysis to identify whether the securities are mispriced or not, the market expectation along with the analysts expectation is to be taken into account. It is possible to observe the price of the stock with respect to reflection in the market analysis and compare with the expectation of the analyst. However, share price gives only a statistical summary. To understand the future performance of the company a detailed analysis its revenue, operating cost and earning is required to be done (Klti et al. 2013). (iii) Analyst Expectation: It is based on the study of various data and information available from the annual report of the company. Analyst can use method like Capital Asset Pricing Model (CAPM), Beta analysis and Dividend Pricing Model (DDM) derive the stock price of the company (Barberis et al. 2015). The Earning Per Share (EPS) of Billabong is to be assessed to predict the future outcome of the company. 2.1.4 Final Product of security Analysis: In this section, advice is given on whether the share of the company is trading rich or cheap in the market. Based on that whether to purchase or sell the shares is determined. In making a recommendation, the time horizon of investment is to be taken into account whether it is a long-term or short-term investment, which is based on forecast and summarizing the report (Michaelides et al. 2013). 2.2 Credit Analysis In this section, the repayment capacity of Billabong is assessed based on the financial standing of the company and the ability of the company to repay its short-term and long-term debt is assessed. 2.2.1 Potential borrowers financial status: Financial status of the borrower to repay its debts can be determined on the analysis of liquidity ratio of the company, which comprises of current ratio and quick ratio. Current ratio of Billabong is 2.19 for the year 2015, which indicates that is capability to repay its debt is very good (Spronk, Steuer and Zopounidis 2016). Current ratio of 2 is generally acceptable for a company and a minimum ratio of 1:1 is required. It is falls below 1 then it is a danger situation for the company. Therefore, it can be said that Billabong is in a very good position to repay its all kinds of debt. 2.2.2 Purpose of credit: Company takes loan for various purposes like running day-to-day activities, increasing its capital base, setting up new ventures and expanding existing capacity. Loan is taken based on its short term or long term needs. Currently Billabong is struggling to be in the market therefore, it has accepted to debt of $360 million from a private equity. Because of this buyout, 34% of the controlling power has gone in the hands of firms who have provided the fund. To come out of this financial crisis it has accepted that funding otherwise its market share would have been in stake. 2.2.3 Nature of credit: The above funding is in the form of the long-term which is required as Billabong is restructuring its operation process and capital structure to survive in this competitive market and to give a strong financial base to the company (Bluhm, Overbeck and Wagner 2016). On the announcement of this deal, the share price of Billabong has fallen by 42.8%. It was in urgent need of the credit has it reported a loss of $ 360 million. This deal was a lifesaver for Billabong. 2.2.4 Term and Ability to repay: The term of the debt is 6 years which carries a fixed rate of interest of 11.9% per annum of which 5.9% is payable in cash and 6.0% is payable in kind at the option of the company. There is a facility of prepayment premium if the loan is repaid early. From the analysis of current ratio (2.19) and quick ratio (1.35), it can be said that Billabong has the ability to repay its debts. Quick ratio gives a much comprehensive idea of the liquidity position of the company (Baghai, Servaes and Tamayo 2014). It excludes those items, which may take time to convert into cash, and includes those items, which can be easily converted into cash. 2.2.5 Security: In this long-term financing, Billabong has to issue 29.6 million options to the consortium, which can be exercised at a price of $ 0.50 per share. In addition to this, Billabong has committed to provide a multi currency that is asset based rotating a credit facility of US $ 140 million. 2.2.6 Loan Covenants: Covenants attached to this long term funding is that C/O Consortium will be able to nominate representative in the board of directors of Billabong (Spronk et al. 2016). It means the funders will have a controlling power on the management of the company. Billabong has accepted the proposal as the history of the finders say that they have good record in the retail and other market (Golin and Delhaise 2013). 2.3 Distress Prediction In this section, analysis will be made based on data and ratios available from the financial statement of Billabong. 2.3.1 Financial Statement Analysis and Listed Debt: Given below is the financial statement and various ratio analysis of Billabong- Billabong (Table-1) INCOME STATEMENT 2013 2014 2015 Revenue 1341 1121 1052 Less: Cost of goods sold 651 556 495 Gross profit 690 565 557 Less: operating Expenses 1511 633 557 Operating Profit -821 -68 0 Add: Other Income 21 -9 28 Less: Other Expenses 0 0 0 Earning before interest and taxes -800 -77 28 Less: Interest 27 82 34 Earning before taxes -827 -159 -6 Less: Provision for tax 33 75 -12 Earning after tax / Net profit -860 -234 6 weighted average number of shares 2931 2905 2884 BALANCE SHEET 2013 2014 2015 Asset Current asset 899 622 496 Receivable 245 204 154 Other Current Asset 654 418 342 Non Current Asset 1181 390 256 Total Asset (a) 2080 1012 752 Liabilty and shareholders fund Current liability 611 612 226 Non Current Liability 440 128 256 Long term Debt 242 0 208 Other Non Current Liability 198 128 48 Total liability (b) 1051 740 482 Equity / Net worth (a-b) 1029 272 270 RATIO ANALYSIS 2013 2014 2015 Variance Profitability Ratio Net margin (Net profit/Turnover*100) -64.13% -20.87% 0.57% 43.26% 21.44% Return on asset (Net profit/Total asset*100) -41.35% -23.12% 0.80% 18.22% 23.92% Return on Equity (Net profit/Equity*100) -83.58% -86.03% 2.22% -2.45% 88.25% Asset Turnover (Turnover/Total Asset) 0.64 1.11 1.40 0.46 0.29 Earning per share (EPS) (Net profit/Number of shares) -0.29 -0.08 0.00 0.21 0.08 Liquidity Ratio Current Ratio (Current Asset/Current Liability) 1.47 1.02 2.19 -0.46 1.18 Debt Equity ratio (Long term debt/Equity) 0.24 0.00 0.77 -0.24 0.77 Activity Ratio Receivable turnover (Turnover/Account Receivable) 5.47 5.50 6.83 0.02 1.34 From the above Table-1, it can be clearly understood that Billabong has been running in losses in the year 2013 and 2014. It has just been able to achieve its break-even and achieve a net profit margin of 0.57% in the year 2015. Therefore, it can be said that 2013 and 2014 were an economic down turn for Billabong. All kind of profitability ratio has fallen during the year 2013 and 2014. Its EPS is already Zero, which indicates a major restructuring of its capital structure is needed (Bluhm, Overbeck, and Wagner 2016). Due to this reason, Billabong has accepted the long-term credit of $360 million to save itself from this down turn, which is listed in the Australian Stock Exchange. 2.3.2 Factors that drive Debt rating: Factors that affect credit rating are history of the organization taking the debt. If there is a case, of late payment or payment is missed then it will give lower rating. The lender may also check the accounts and if there is a case of multiple accounts opening in short period of time then rating will be lower (Gratch et al. 2014). It is recommended not to take rating from many sources as higher number of rating will result in higher number of searches which will led to a lower rating. 2.3.4 Prediction of Distress and Turnaround: Billabong has incurred huge losses in the year 2013 and 2014. It has just been able to turnaround in the year 2015. Therefore, it can be said that the decision of the company to take the long term financing of $ 360 million from a private equity was a good decision to survive and thrive in this competitive market. 3.0 Conclusion In short, it can be said that Billabong has seen massive growth in the beginning years but in the recent years, it has been running in losses. Therefore, to survive in this market they have taken a long term financing from a private equity. Due to this agreement share price of the company has dropped at lot but at the same time, it has been able to generate profit in the year 2015. Therefore, it is recommended for the company to maintain its current capital structure and try to introduce innovative product in the market so that it can gain its market share which was which lost during the recent years. Billabong is very well known for its reputation so is its expected that it will turn around in the near future provide it take some good business decision and make their shareholder understand that. References Baghai, R.P., Servaes, H. and Tamayo, A., 2014. Have rating agencies become more conservative? Implications for capital structure and debt pricing.The Journal of Finance,69(5), pp.1961-2005. Barberis, N., Greenwood, R., Jin, L. and Shleifer, A., 2015. X-CAPM: An extrapolative capital asset pricing model.Journal of Financial Economics,115(1), pp.1-24. Bluhm, C., Overbeck, L. and Wagner, C., 2016.Introduction to credit risk modeling. Crc Press. Damodaran, A., 2016.Damodaran on valuation: security analysis for investment and corporate finance(Vol. 324). John Wiley Sons. Golin, J. and Delhaise, P., 2013.The bank credit analysis handbook: a guide for analysts, bankers and investors. John Wiley Sons. Gratch, J., Artstein, R., Lucas, G.M., Stratou, G., Scherer, S., Nazarian, A., Wood, R., Boberg, J., DeVault, D., Marsella, S. and Traum, D.R., 2014, May. The Distress Analysis Interview Corpus of human and computer interviews. InLREC(pp. 3123-3128). Klti, R., Kotronis, V. and Smith, P., 2013, October. Openflow: A security analysis. In2013 21st IEEE International Conference on Network Protocols (ICNP)(pp. 1-6). IEEE. Michaelides, A., Milidonis, A., Nishiotis, G.P. and Papakyriakou, P., 2015. The adverse effects of systematic leakage ahead of official sovereign debt rating announcements.Journal of Financial Economics,116(3), pp.526-547. Spronk, J., Steuer, R.E. and Zopounidis, C., 2016. Multicriteria decision aid/analysis in finance. InMultiple Criteria Decision Analysis(pp. 1011-1065). Springer New York. 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