As You Like It Gender Essay Example For Students

As You Like It Gender Essay The primary topics of As You Like It are the peaceful perfect and theideal of sentimental love. Backwoods of Aden is the essential setting where these themesdevelop. Nature fills in as a shelter from society where we can discover arrangements toinjustice and misery. This play is a parody and accordingly has a cheerful consummation butit isn't a pixie tail. Shakespeare features the distinction between realityand hallucination. Rosalind epitomizes the reasonableness, the diversion and the sort of lovethat prompts an upbeat, amicable living. She carries the plot to a resolutionwhen four differentiating sentiments end in marriage. The focal point of the play is herromance with Orlando. Rosalind needs to discover a darling without losing her sense ofself all the while. Rosalind responds to the inquiries regarding love, which ariseduring the play. She is a lovesick lady but then she stays an intelligent,witty, and solid character. Rosalind is likewise a decent appointed authority of charac ter. Shesees through Jaques apparently profound contemplations and perceives the intelligence of clownTouchstone. Besides, she astutely utilizes her mask to become more acquainted with Orlandoand instruct him about adoration. The gathering of Orlando and Rosalind is the mostimportant occasion in Act 1 of the play; it is all consuming, instant adoration. Celia and hercousin talk about experiencing passionate feelings for not long before the wrestling match. Fromhenceforth I will, coz, and devise sports. Allow me to see, what consider you fallingin love? Her words demonstrate that Rosalind is prepared to confront the peril of fallingin love. She surmises that her dad would affirm of Orlando since her fatherapproved of his dad Sir Rowland. Their gathering uncovers a helpless side ofthe Rosalind as she gives him a chain, says, Gentleman, wear this forme and sits tight for him to proceed with the discussion. In Act Shakespearedraws matches between Rosalinds relationship with Celia and Or landosrelationship with Adam. At the point when Duke Fredrick exiles his niece from the court,Celia settles on a brisk choice to go to the Forest of Aden with her cousin and tolook for her uncle. This represents the degree if love and devotion betweenthem. Orlandos senior sibling Oliver denies him training. At the point when Orlando isleaving for the timberland Adam needs to go with him to serve and secure him. Ace, go on, and I will follow thee To the last pant with truth and faithfulness However fortune can't reward me better Than to pass on well and not my mastersdebtor. (2.4. 70-75) Soon subsequent to entering the Forest of Arden Rosalind discoverslove sonnets that Orlando hold tight the trees. She loses poise as she readsthem in a steady progression. When she discovers that Celia has seen Orlando she isvery energized and can't quit posing her inquiries, What did he when youthou sawst him? What said he? How looked he (3.2. 218-20) For a briefperiod of time, she turns into a casualty of fascination like those she despises. Sheis sold out by something she feels and thinks that its hard to concede reality inlove. Shakespeare therefore outlines that she isn't perfect, that she has flawslike all other person. Rosalinds smart plan to take on the appearance of Ganymedeenables her to have a twofold personality, which will give her the open door totest Orlandos love. Her mask most likely forestalls their prompt marriage. I will address him like a saucy flunky and under that propensity play theknave with him. (3.2.292-93) She doesn't anyway only play games,Rosalind she shows Orlando how to adore her. He should stay faithful to his obligations andrespect her in this way demonstrating his affection is genuine. She takes a pessimistic view ofromantic love to prod Orlando. Rosalind starts to feel worn out on acting after themomentary drop of her pretense when she swoons at seeing Orlandos bloodyhandkerchief. At the point when Orlando substantiates himself to Ganymede and recoveries the life of hisbrother Rosalind is prepared to make a pledge to him. She doesn't arrange ofher camouflage up to that point since she understands that possibly time will appear if theyare extremely enamored. Time refines their energy for each other. Rosalind is aphilosopher Rosalind like Jaque. Her down to earth love-filled impression of theworld appear differently in relation to his pessimistic perspectives. Jaque likes to diff er with everyoneelse. Both Orlando and Rosalind challenge his thoughts. In the third demonstration Jaquetried to convince Orlando that adoring Rosalind isn't worth his time and energy. Jaque. .u29486eb3cccd0a89bfc8b5ca62105a8e , .u29486eb3cccd0a89bfc8b5ca62105a8e .postImageUrl , .u29486eb3cccd0a89bfc8b5ca62105a8e .focused content region { min-stature: 80px; position: relative; } .u29486eb3cccd0a89bfc8b5ca62105a8e , .u29486eb3cccd0a89bfc8b5ca62105a8e:hover , .u29486eb3cccd0a89bfc8b5ca62105a8e:visited , .u29486eb3cccd0a89bfc8b5ca62105a8e:active { border:0!important; } .u29486eb3cccd0a89bfc8b5ca62105a8e .clearfix:after { content: ; show: table; clear: both; } .u29486eb3cccd0a89bfc8b5ca62105a8e { show: square; change: foundation shading 250ms; webkit-progress: foundation shading 250ms; width: 100%; obscurity: 1; change: murkiness 250ms; webkit-progress: mistiness 250ms; foundation shading: #95A5A6; } .u29486eb3cccd0a89bfc8b5ca62105a8e:active , .u29486eb3cccd0a89bfc8b5ca62105a8e:hover { haziness: 1; progress: darkness 250ms; webkit-progress: darkness 250ms; foundation shading: #2C3E50; } .u29486eb3cccd0a89bfc8b5ca62105a8e .focused content zone { width: 100%; position: relative ; } .u29486eb3cccd0a89bfc8b5ca62105a8e .ctaText { fringe base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: striking; edge: 0; cushioning: 0; text-enrichment: underline; } .u29486eb3cccd0a89bfc8b5ca62105a8e .postTitle { shading: #FFFFFF; text dimension: 16px; text style weight: 600; edge: 0; cushioning: 0; width: 100%; } .u29486eb3cccd0a89bfc8b5ca62105a8e .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; outskirt: none; outskirt sweep: 3px; box-shadow: none; text dimension: 14px; textual style weight: intense; line-tallness: 26px; moz-fringe range: 3px; text-adjust: focus; text-enhancement: none; text-shadow: none; width: 80px; min-tallness: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/basic arrow.png)no-rehash; position: supreme; right: 0; top: 0; } .u29486eb3cccd0a89bfc8b5ca62105a8e:hover .ctaButton { foundation shading: #34495E!important; } .u29486eb3cccd0a89bfc8b5ca6 2105a8e .focused content { show: table; tallness: 80px; cushioning left: 18px; top: 0; } .u29486eb3cccd0a89bfc8b5ca62105a8e-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .u29486eb3cccd0a89bfc8b5ca62105a8e:after { content: ; show: square; clear: both; } READ: The Glen Ridge Rape EssayThe most exceedingly awful shortcoming you have is to be infatuated. Orlando. Tis afault I won't change for your best ethicalness. I am tired of you. (3.2. 279-82) Rosalind discloses to Jaque that he is tragic and despairing on the grounds that he picks tostay segregated from the genuine she says: Fear you have sold your ownlands to see different mens I had preferably moron to make me cheerful over experienceto make me dismal. Along these lines Jaque loses in this short trade. Touchstone is thefool whom Rosalind would want to Jaque. She comprehends his intelligence: Youspeakst more astute than thou craftsmanship product of. Touchstone discloses to her a story aboutbeing in affection with a young lady. He gave the young lady something and said wear thesefor my purpose, which are nearly similar words that Rosalind said to Orlandoin the start of the play. The adoration among Orlando and Rosalind is portrayedas better than different sentiments, which are increasingly gritty. Touchstone and Audreysromance speaks to physical energy. He needs to wed her out of chapel so thatthe marriage would be invalid. Silvius who is pitifully infatuated wit h Pheobe,represents peaceful love The assorted variety of characters sentimental assessment createsa balance in the play and causes one to value their preposterousness, otherworldliness andextremities. Contrasted with Silvius senseless fascination, Orlandos is a greater amount of acourtly lovesickness. Rosalind eclipses every other person in the play with herintelligence, mind and profundity of feeling. Her humankind and feeling of fun make herthe perfect sentimental champion. She is by all accounts a very long time comparatively radical. She isa lady who is completely the ace of her own predetermination and she remains incontrol more often than not. Shakespeare has made a practically perfect courageous woman whobrings the play to its decision.

Outline Worksheet for Persuasive Speech Free Essays

Explicit Purpose: To educate my crowd regarding the benefits of the online courses. Theory Statement: Now, the online courses become increasingly well known. Be that as it may, why increasable understudies picked online courses, there are loads of schoolwork, the breaking point time and the higher caliber of the class. We will compose a custom paper test on Blueprint Worksheet for Persuasive Speech or on the other hand any comparable subject just for you Request Now With the improvement of the online courses, the understudies can get same information, yet invest less energy in the online courses. Presentation I. Enticement: At the start of my discourse, I have a few inquiries. Did you generally invest a ton energy between the school and home? Did you as a rule stress that you couldn’t find the educator? Did you ever consider the answers for those? II. Foundation of ethos: truth be told, I for the most part don’t get up until the class will start toward the beginning of the day, so I ever imagine that the study hall could move into my room sometime in the future. Presently it turns out to be valid. The online courses will bring more rest time for me. III. Preview:Even however numerous understudies despite everything lean toward up close and personal talk classes, I think online courses are progressively advantageous in light of the fact that the substance is equivalent to study hall courses, the time is adaptable and there is no companion pressure in online courses. With such incredible advantages, understudies should pursue online courses considering the tumultuous way of life everybody has today. (Change: Now, I will discuss the points of interest about the online courses. ) Body I. In the first place, the substance of online courses is equivalent to the courses in a study hall. A. Educators can record their talks into recordings and show live on the web, and teachers can likewise allot schoolwork for their understudies without any problem. The main contrast for understudies is that they need to submit their schoolwork through the web. Be that as it may, this has nothing to do with the nature of the class. B. I found an article named â€Å"Students Can Take Class Online at Home,† which was distributed in the Atlanta Journal Constitution, said that â€Å"students sign on to an assigned Web webpage where talk notes and slide shows are posted. † Therefore, online courses previously turned into an accommodating method to educate understudies. II. Second, the calendar is entirely adaptable for understudies. A. For some online courses, educators will simply put the materials on their own site and let understudies take courses at their own pace. For instance, a math instructor can permit understudies to go through an exercise on the PC or utilize the PC to help delineate what is being educated by and by. The online courses can likewise be utilized to give additional assistance to understudies going to bomb a class. B. Moreover, on the off chance that it is a class that requires a great deal of time, they can take breaks at whatever point and afterward proceed with later on. It is additionally a compelling method to take a class, in light of the fact that after a break, understudies can focus on the class better and recall more things simultaneously. III. Third, a few understudies believe that on the off chance that they take a study hall class, they will feel peer pressure, in such a case that another understudy completes quicker than the person in question does, at that point the person in question will get anxious and can’t finish the rest well. A. The difficult will be explained on the off chance that they take an online course since it is only the understudies themselves at home so they can contemplate the inquiries at their own pace without the weight of feeling anxious. They may enable the understudies to get a high evaluation in the test or a task. B. For instance, in my Chinese college, there will frequently be a great deal of understudies taking a test in the study hall simultaneously. I recollect that one of my colleagues in my English class took the mid-term test with me and that he took quite a while during the understanding part. As time advanced, an ever increasing number of understudies completed before he did and after the time was up, I asked him how he did and he revealed to me he couldn’t focus on the test as a result of content nervousness and the steady interruption of understudies leaving before he did, so he got a second rate on this test. End I. Sum up and: all in all, understudies can enormously profit by online courses. The substance in address classes is equivalent to online classes. Additionally, the friend pressure is gone with regards to online courses. Above all, understudies who take online courses have progressively adaptable examination time. II. Bind to the presentation: Therefore, taking on the web courses, we will sit around idly time among school and home, yet get a similar information. III. Inventive finishing up thought: I figure online courses will turn out to be progressively accessible to all understudies later on then understudies can most likely gain all the more viably from the online courses. References: Sophia Lezin Jones, Aug 7, 2000, Atlanta Journal Constitution, Gwinnett understudies can take class online at home Carter, Rochelle, Aug 1, 2002, Atlanta Journal Constitution, BACK TO SCHOOL: Online courses extend Clayton’s Class.com picking up fame http://oedb.org/library/separation versus nearby/10-points of interest to-taking-online-classes/http://ezinearticles.com/?What-Are-The-Advantages-And-Disadvantages-Of-OnlineCourses?;id=317526 http://www.ehow.com/facts_4797506_online-preparing focal points disadvantages.html http://seacstudentweb.org/top-benefits-of-online-education.php Instructions to refer to Outline Worksheet for Persuasive Speech, Essays

Economic downturn hits Oz Clothing Essay Example | Topics and Well Written Essays - 3500 words

Monetary downturn hits Oz Clothing - Essay Example Soon, there are likewise signs that the administration will give further strengthening to worker's organizations, for example, the CWU considering its recently initiated Industrial Relations arrangement. Financial †The worldwide economy is encountering a basic downturn, bringing about the retraction of requests by enormous retailers who are thusly influenced by poor shopper request. The significant expense structure of the firm, especially its work, is rendering the firm uncompetitive against rival firms working in systems that permit them a lower cost structure. The Australian articles of clothing industry will most likely be unable to make sure about extra bailout assets from the legislature as it has just discharged a lot of subsidizing for this reason, and is itself somewhere down in open obligation which it may not wish to increment further. Social †The Australian Council of Trade Unions intends to mount a crusade to â€Å"buy local† which might be participate b y other non-legislative associations and specific vested parties. A definitive goal is clearly to make an expansive based, society-wide interest for neighborhood items with the goal for request to help progressively gainful business activities for Australian firms. To kick off the procedure, in any case, the underlying target is to make sure about the responsibility of bureaucratic, state and neighborhood governments to offer inclination to items that have been made in Australia. Innovative †The industry’s creation strategy is low-talented and work escalated, for which reason it is inclined to simple replication in nations that have a huge work base that can order a lower work cost. Such a nation is China, which has effectively mass... The paper tells that the matter of Oz dress has entered a time of monetary vulnerability, requiring the requirement for a vital change so as to endure. The Australian firm fabricates garments things among which are clothing lines it portrays as item type, demonstrating the absence of recognizing attributes or brand name from different mass delivered, fundamental garments wear. Oz Clothing will attempt an intense, hazardous, yet over the long haul fundamental, vital change that vows to make momentary vulnerabilities for the organization, yet more noteworthy solidness and development in the far off future. A move of market center may demonstrate valuable; it is recommended that the firm structure items for the senior buyers (50 years of age or more), which is the quickest developing and most well off fragment of society. The change will include emotional adjustments in the firm’s items, for which its old assembling procedures may not, at this point be appropriate. An adjustment in the abilities set required will consequently must be obtained by the representatives, for which preparing and coaching should be finished. Furthermore, the firm should make an obligation of trust among itself and its representatives, and lead business in a straightforward path with its representatives, in the event that there will be a need to connect with them to consent to a compensation decrease or shorter work week for the span of the emergency. Moreover, so as to maintain a strategic distance from demotivation or trade guild questions, it will be important to honestly move toward the matter of potential cutbacks and work stoppages if such will be justified by the firm’s money related circumstance.

Tanga Cement Company Ltd Has Been Doing Well Finance Essay - Free Essay Example

In this century the uses of financial analytical tools such ratio analysis, trend analysis and common sized analysis is inevitable in any organization or company operations. So in order for the company to succeed it must effectively use financial analysis tool. This is because financial analytical tools help to know the health of the business, how to plan for future, if the business have inventories to support production target, or if the firm have ability to pay creditors and also to provide indicators of how well the firm and its business units are performing. The financial analysis is also undertaken by shareholders, investors, suppliers of funds and suppliers of inventories and so on (Arora 2012). This report is about the interpretation of financial statements at Tanga Cement Company by using financial analysis tools. This report is divided into four parts. Part one is about background of the case study (Tanga Cement), part two is concerned with financial analysis and tools used in analyzing the financial performance of Tanga Cement, part three is about limitation on analytical tools used and part four comprises of conclusion. The study revealed that Tanga Cement Company Ltd has been doing well in production and it is making reasonable profit year after year. This revelation has been resulted from the Company financial Statements and Financial Analytical tools (Ratio Analysis, Common sized analysis and Trend Analysis). LIST OF TABLES Table 1 Tanga cement balance sheetÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.3 Table 2 Tanga cement income statementÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦4 Table3: Summary of return on sales ratios ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦6 Table 4: Summary of return on Assets ratiosÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.6 Table 5: Summary of current ratiosÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡  ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦..7 Table 6: Summary of quick ratiosÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.8 Table 7: Summary of inventory turnover ratiosÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.8 LIST OF ABBREVIATIONS IT: Information Technology FIFO: First in First out LIFO: Last in First out ROS: Return on Sales TABLE OF CONTENTS EXECUTIVE SUMMARY ii LIST OF TABLES i LIST OF ABBREVIATIONS ii 1.0: BACK GROUND OF TANGA CEMENT COMPANY iv 2.0:FINANCIAL STATEMENTS, ANALYTICAL TOOLS AND ITS INTERPRETATIONS. v 2.1 Financial statements v 2.2 Financial Analysis v Table 1. TANGA CEMENT BALANCE SHEET vii Table 2. TANGA CEMENT INCOME STATEMENT viii 2.2.1 Trend analysis viii 2.2.2 Ratio analysis viii 3: LIMITATIONS ON FINANCIAL ANALYTICAL TOOLS USED xiii 4: CONCLUSION xiv REFERENCES xvi 1.0: BACK GROUND OF TANGA CEMENT COMPANY According to Tanga Cement Website (2011), Tanga Cement is a cement company based in Tanzania. The company was founded in 1980 in alliance with the government of Denmark in 1989, as a state company of the Tanzanian government, entered into a management contract with Holcim Cement of Switzerland. In 1996 the government began to privatize the company and as of 2007 it is owned by public and by Holcim Mauritius. Currently company ownership is as follows: 62.5% Afrisam Mauritius 36.25% Tanzania General Public Institutions 0.75% Employees Share Trust Moreover company production capacity is more than 1,250,000 tones/year where it targets the market demand of Tanzania. With 15000 Tanzanians being the shareholders, Tanga cement shares trade under its brand name Simba, at Dar es Salaam Stock Exchange. The Company produces its financial report in annual bases where those financial reports are uploaded to the website so that every shareholder can check the company financial position online. In our analysis we have taken the yearly financial reports from 2006 up to 2008 as a company financial reports study analysis. 2.0:FINANCIAL STATEMENTS, ANALYTICAL TOOLS AND ITS INTERPRETATIONS. 2.1 Financial statements Financial statements are the summary report that shows how a firm has used the funds entrusted to it by its shareholders and lenders, and what is current financial position (businessdictionary.com 2012). There are three (3) financial statements such as balance sheet, income statement and cash flow. Balance sheet is the financial statement which contains information about resources and the obligations of the entity and about its owners interests in the business at a particular point of time i.e. assets, liabilities and owners equity. Income statement (profit and loss account) is the financial statement which shows the summary of revenues, expenses and net income/loss of a firm during the accounting period. It serves as a measure of the firms profitability. Cash flow statement is the financial statement which shows inflows and outflows of cash during the specific period. 2.2 Financial Analysis Financial Analysis is an assessment of the effectiveness with which funds (investment and dept) are employed in a firm, efficiency and profitability of its operations, and value and safety of debtors claims against the firms assets (businessdictionary.com 2012).There are three (3) techniques and tools that were used in the analysis of financial statements of Tanga cement, such tools includes Trend analysis, Common sized and ratio analysis. SIMBA CEMENT INCOME STATEMENT  YEARS  2008 2007 2006  Tzs000 Tzs000 Tzs000 Revenue sale of goods 121,349,244 93,784,426 77,626,645 Cost of sales 68,871,990 51,057,886 -45,952,752 Gross profit 52,477,254 42,726,540 31,673,893     Other operating income 999,277 1,267,303 396,414 Other operating expense -146,016 Selling expenses 0 Administrative expenses -7,327,710 -7,590,738 -7,148,240 Depreciation and amortization -2,207,366 -2,024,505 -1,895,277 Profit from operations 42,799,272 34,378,600 23,026,790     Share of profit of associates 987,282 431,432 90,000 Finance cost -312,057 -122,720 -137,377 Finance revenue 31,382  1,553 Foreign exchange gains /(losses) -286,853 -265,467 84,457 Impairemnt of an associate Profit before tax 43,219,026 34,421,845 23,065,423 Income tax expense -12,965,708 -10,831,187 -7,067,479 Profit for the year 30,253,318 23,590,658 15,997,944     Gaining in fair value    Total comprehensive for year 30,253,318 23,590,658 15,997,944 Basic earnings per share (Tzs) 475 371 251 Diluted earnings per share (Tzs 475 185 251 Table 1. TANGA CEMENT BALANCE SHEET COMPREHENSIVE BALANCE SHEET FOR TANGA CEMENT AS AT 31 DECEMBER  YEARS 2008 2007 2006 Tzs000 Tzs000 Tzs 000 ASSETS    Non-current assets    Property, plant and equipment 58,776,827 40,811,579 25,226,657 Intangible asset 39,836 79,674 119,512 Due from Employees share trust 133,009 Investment in associates 468,959 435,677 418,246  59,285,622 41,326,930 25,897,424 Current assets    Inventories 21,138,953 17,688,472 9,113,426 Accounts receivable third party and other 4,600,852 3,219,070 3,906,770 Cash and bank 3,804,282 6,552,597 10,112,629  29,544,087 27,460,139 23,132,825 TOTAL ASSETS 88,829,709 68,787,069 49,030,249     EQUITY AND LIABILITIES    Capital and Reserves    Issued share capital 1,273,421 1,273,421 1,273,421 Re-valuation surplus 2,795,906 2,933,351 3,081,673 Retained earnings 57,337,761 46,307,762 31,100,806  61,407,088 50,514,534 35,455,900     Non-current Liabilities    Provision for site restoration 53,444 49,443 45,442 Deferred tax provision 6,340,887 3,795,940 4,467,136  6,394,331 3,845,383 4,512,578     Current liabilities    Interest bearing borrowing 6,078,136 1,027,386 419,554 Trade and other payables 14,422,864 11,547,684 8,627,451 Income tax payable 527,290 1,852,082 14,766  21,028,290 14,427,152 9,061,771 TOTAL EQUITY AND LIABILITIES 88,829,709 68,787,069 49,030,249 Table 2. TANGA CEMENT INCOME STATEMENT 2.2.1 Trend analysis This is the financial analytical tool which compares two or more years financial data to study the trends. According to a lecture delivered as part of module ARUM58EKM, It involves the calculation of percentage relationship that each statement item bears to the same item in the BASE YEAR (Arora 2012). 2.2.1.1The trend Analysis for Tanga cement The analysis and interpretation of the financial statements of Tanga cement made with calculation of trend percentages comes out with the following: Sales and cost of goods sold have shown a positive increase throughout the three years. This situation is viewed as favorable because it enhances the increase the in gross profit. So Tanga cement should try to maintain the strategy is using in increasing its sales. Net profit was tremendously increasing from year to year accompanied with the increase of fixed assets and capital and reserves. The analysis shows that the situation is favorable and the company has a good policy of manufacturing and trading. 2.2.2 Ratio analysis Ratio analysis is the financial analytical tool which is used to explain the important association between figures shown on a balance sheet, in income statement, cash flow statement or in any other part of accounting organisation. Ratios show how one number is related to another. It may be expressed in the form of co-efficient, percentage, proportion, or rate (accountingformanagement.com 2011) 2.2.2.1 Ratio analysis and valuation for Tanga Cement Company a. Profitability Ratio According to Atrill P and McLaney E (2008) is the ratio that provides an insight to the degree of success of the business in making the good profit to their owner. Return on Sales This ratio is used to evaluate companys operational efficiency. It is also known as operating profit margin. It shows how much profit is produced per Shs of Sales. Increase in ROS it shows the company is growing more efficient while a decreasing in ROS could signal looming financial troubles. Return on Sales = Net Income (before tax and interest changes) Sales Year 2010 2009 2008 Tanga Cement 0.305 0.376 0.353 Standard 1.91 1.91 1.91 Table3: Summary of return on sales ratios In our analysis we found the average ROS for Tanga Cement is 0.23 while the industry average ratio is 1.91 so this implies that the company is not operating efficiently because its ROS value is low from the industry average. The management of Tanga cement should try to come up with a good strategy that will help them to boost profit and sales. Return on Assets This ratio is used for measuring the return of total investment in the firm. Return on Assets = Net Income after Tax x100 Total Asset Year 2008 2007 2006 Tanga Cement 34.05% 34.29% 32.6% Standard 1.81% 1.81% 1.81% Table4: Summary of return on Assets ratios For Tanga Cement we found that, the average return on asset is 33.64 while industrial average ratio is 1.81%.This shows that Tanga Cement is significantly above the industry average ratio. For this case the company is in a good position on the return of total investment, hence the company has high ability of growing. b. Liquidity Ratio According to Atrill P and McLaney E (2008) It is the vital to the survival of the business that there is sufficient liquid resource available to meet maturing obligation (that is amount owing that must be paid in the near future). Mostly it is measured by Current Ratio and the Quick Ratio. Current Ratio This ratio falls under category of liquidity ratio it measures companys ability to meet its maturing short term obligation Current Ratio = Current Asset x100 Current Liabilities Year 2008 2007 2006 Tanga Cement 1.4 1.9 2.55 Standard 1.83 1.83 1.83 Table5: Summary of current ratios Current ratio for Tanga Cement is 1.94 times while industrial ratio is 1.83 times. Hence this indicates that Tanga Cement is in a good position to meet its both long term and short liabilities which is good because, in situation like this the company can grow. Quick Ratio The ratio measures the companys ability to meet its short term obligation with its most liquid assets. Quick Ratio = Current Asset -Inventories Current Liabilities Year 2008 2007 2006 Tanga Cement 0.4 0.68 1.55 Standard 1.09 1.09 1.09 Table6: Summary of quick ratios Quick ratio for Tanga Cement is 0.87 times while industrial average ratio is 1.09 times, this indicates that Tanga Cement is below industrial average by 0.14 times. Hence this is not favorable financial position. The difference is not big but, the difference indicates the company cannot meet its entire obligation; it has to make sure it has enough cash to meet its obligation. c. Activity Ratios Inventory Turnover Ideally the ratio show how many times the companys inventory is sold and replaced over the period of time. Inventory Turnover = Cost of Sales Average Inventory Year 2008 2007 2006 Tanga Cement 3.26 2.89 5 Standard 10.46 10.46 10.46 Table7: Summary of inventory turnover ratios Inventory turnover in Tanga Cement is 3.71 times while the industry average is 10.46 times. This shows Tanga Cement is not in favorable financial position since its turnover is 3.67 times compared to 10.46 times of industrial average ratio, hence the degree at which the inventory will be sold and replaced in Tanga cement is 3.67 times, this is the low turnover. The company is doing worse on this part because its turnover is almost two times less from industry average.it shows that the companys resources have not been properly utilized. Analysis and interpretation of balance sheet and income statement for Tanga cement. 1. Capital and reserves at first increased by 1.12% from 2006 to 2007, in the year 2008 it declined by 4.31%. This means that the company in 2008 was generating much loss that caused its reserve to decrease as well as capital which resulted to decrease in company wealth. 2. Investment in non current assets increased from 52.18% to 66.74 from 2006 to 2008. The investment done in the preceding years was beneficial to the company thats why the investment in 2008 declined because there was no need of investing much. 3. Current assets generally have been decreasing from 47.18% to 33.29% from 2006 to 2008. Cash and bank was decreasing from year to year this is a good sign since short term obligations such as current liabilities have been resolved by cash and bank. The company has no need of holding cash and bank while it needs to make profit using that money 3: LIMITATIONS ON FINANCIAL ANALYTICAL TOOLS USED When calculating the financial ratios, may find getting two types of answers. Some ratios might be good and some might be bad ratios compared to industry standard, which will make it difficult to judge if the company is I a good position or not. Financial ratios are giving the actual financial picture of the company whether the company is going at the right or wrong direction. These ratios do not give a solution of what to do if things go wrong. In analytical tools, the data which is used is only accounting data instead of economic data. In doing financial ratios analysis, data that is used are obtained from bank statement, balance sheet and cash flows of previous years. This shows that they are using historical data which is bad because they do not reflect the actual economic situation. In financial analysis ,data obtained cannot be used alone, the data obtained must be compared with other data so as to get actual interpretation Different accounting practices can di stort comparison even within the same company. A good example is one can use LIFO and one use FIFO; the answers will definitely be different. The set standard industry financial ratios are not authentic because the levels of business differ from place to place. A good example is on IT industry. The level of technology in third world countries is very low, so logically third world countries wont be able to meet the set standard due to our level of technology. 4: CONCLUSION Tanga Cement Company Limited has been doing well in production and making sound profit year after year. Tanga Cement is also the second largest cement producer in Tanzania with a production of 1.25 million tpa capacity. Tanzania Portland Cement in Dar es Salaam is the major (largest) producer with a production capacity totaling 1.4 million tpa. This revelation has been resulted from the Company financial Statements and Financial Analytical tools (Ratio Analysis, Common sized analysis and Trend Analysis). Generally the performance of Tanga Cement Co. LTD is good.

Essay on Gatsby and Hamilton. - 1294 Words

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America s Government Or Legal System At Ground Zero Essay

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Economic of Banking and Finance Transaction Cost Theory

Question: Discuss about the Economic of Banking and Finance for Transaction Cost Theory. Answer: Introduction The following report discusses about the role of financial market, financial intermediary, and the financial securities in the financial system of the company. Credit lending is an accounting term either it decrease the assets or increase the liability. Thus, lender checks the revenue and the financial position of the borrower. Moreover, this report discusses the role of asymmetric information before and after the transaction made. There are many problem and issue with the DBS bank at the time of transaction, which is resolve with the help different theories like transaction cost theory, delegated monitoring theory and economic scale theory. This report also discusses the key business activities of the Noble group and role of financial market and financial securities in the financial system of the company. Academic Review With the increase in economic activities in any country, it becomes necessary that strong and healthy financial system is in place to support such activities. Kunt et al. (2011) and may other scholars validate the financial systems and their components hold importance in facilitating smooth conduction of business activities for economic development. Adrian and Shin (2010) propose that financial intermediaries can play an important role in ensuring that all rules, regulations and diligence is followed while conducting financial transactions of the business especially those that are heavily engaged in money and capital markets. This will involve taking appropriate measure before and after lending, reducing information asymmetry and act as an agent during any conflict. Financial Intermediary Financial intermediary hold a very important role in the flow of money in the financial world. A financial intermediary is an institution or individual that acts as a middle man between two parties at the time of financial transaction, such as commercial bank, investment bank, and mutual funds. A financial intermediary is typically a bank that provides the funds to the user of funds (Dilley, 2012). Financial intermediary can offer different types of benefit to the average customer such as- safety, liquidity and economies of scale. Bank is a financial intermediary that provides a dazzling variety of financial service. Role of Financial Intermediary Being a Financial intermediary, DBS bank plays several roles as a financial intermediary. It repackages the deposits of the investor into loans, which are provided to the firms. Through the implementation of this, small deposits of the individual consolidated in the form of large amount to firms. Bank diversifies the loans among several borrowers, because it has so much money. In this way, bank increase its ability to identify the individual defaulted loans by reducing the risk of loan defaulter (Golin and Delhaise, 2013). As a financial intermediary bank provides information to the market participants, by which they make the decision about the deposits. Further, financial intermediary is providing external finance to the firms that are new and it required funds to establish their business. Credit Lending Credit landing is the amount of money that lent to an individual or any firm for their personal, family, household, and business purpose. This loan is monitored by the government regulatory agencies for their compliance. Credit lending is contractual agreement in which borrower receive some amount and agrees to repay it to the lender at some date in future with the interest (Property Metrics, 2016). Credit lending is an accounting term that either decrease asset or increase liability of the business. Cautions in Credit Lending Being a financial intermediary, DBS bank cautions some factor, while lending money to its customers. In the present market context, lender is checked the financial condition and market condition of the borrower for successfully complete the proposed project at time. Apart from this, Lender checks the business revenue and annual income of the customer before lending money to borrower. Through the implementation of this, bank should find out the credit worthiness position of the customer (Ansaloni, 2012). In addition to caution in credit lending, bank should check the background position of the customer under which bank check the liquidity risk, defaulter risk, and interest risk in context of customer. Asymmetric Information Asymmetric information is a very important concept that is widely used in the financial world. It refers that one party has more or better information than the other party when making transactions. Improper information is the reason of an imbalance of power. Role of Asymmetric Information Lack of information causes for the economic imbalances that result in adverse selection and moral hazards problems occurs. Under the adverse selection, sellers have more information about the product. If the quality cannot be measured, the buyer is willing to pay high price that reflects the average quality (Greebbaum et al., 2015). In the Moral hazard, action is taken by the borrower. This problem occurs after the transaction is made. For this reason, it reduces the probability that loan will repaid. Measures before Loan Granted Due to the asymmetric information, DBS bank has to follow some measures before granting loan to the borrower such as- Liquidity, data sharing, profitability, safely and security, purpose of the borrow amount, sources of repayment and social responsibility. Credit referencing is a very important tool by which bank can avoid the problem of Asymmetric information (Schwalbe, 2012). Under this, bank must rank to the firms on the basis of their repayment ability. Measures after Loan Granted Being a financial intermediary, DBS bank has to measure some information after the transaction is made. Bank has to check regularly the financial updates of the borrower. In addition to this, there are many factors which are measured by the lender after the loan granted such as- market value of the collateral security, business plan of the borrower, financial details and market position of the business (Onyiriuba, 2015). Problems / Issues in Lending There are many problems/ issues occur with the DBS bank such as transaction cost, selection issue and many other issues, while it lending money to its borrower. That can be defined with some theories, which are covered as below: Transaction costs reduction theory Transaction cost refers to the cost of transferring between the lender and Borrower. This theory followed by DBS bank to reduce the loss after issued the latter of demand to the company. Through the implementation of this theory, Bank reduces the cost of recovering the loan amount (Pilbeam, 2010). On the other hand, It also refer to reduce some risk, which always involve in the financial transaction such as- search cost, Arrangement fees, professional advise fee, and covenant compliance cost. Informational Economies of Scale theory Due to implementation of this theory, DBS bank faced the problem related to the adverse selection and moral hazard. To overcome this issue, bank should develop the expertise in information that enables them to select a good risk. So bank has to take care of this type of issue in future. At the same time, bank has to measure the information of borrowers transactions held with bank (THE TREASURY, 2016). In addition to this, bank should used different types of tool reduce the risk after issued letter of credit to the company such as: monitoring, government regulation to increase information, financial intermediary active in the equity market, and debts contact. Delegated Monitoring Theory This theory is useful by DBS bank for resolving the problems related to incentive between the borrower and lender after issued the letter of demand to company. On the other hand, this theory provides the best contract to the bank so that legal protection is strong for the bank. At the same time, delegated monitoring is helpful to reduce the transaction cost and deriving the technology in the bank (CESP, 2016). Benefit of delegated monitoring is raised because of skills and the reduction of duplication work. 2. Financial System Financial system is the process and procedure used by the organization to exercise the financial control and accountability. A financial system is covered the financial transactions and exchange the money between lender and borrower. The Singapore financial system is highly developed and well regulated and it offers a wide range of non banking service. The financial system of Singapore has the analytical and operation capabilities to do effectively (Monetary Authority of Singapore, 2016). There are many component of Singapore financial system, which describe as below- Financial Markets Financial market is a broad term that describes a market place, where buyer and seller equally participate in the trade of assets like equity, bond, currencies, and derivatives through the financial intermediaries. Financial market increased the overall production and efficiency of the economy. Financial market of the Singapore is unique in which government played a major role for creating an eco-system that nurtured quality growth (Burton el al., 2015). Financial market of Singapore was able to leverage on the competitive strength at the time of financial crises. Financial Intermediaries Financial intermediary is refers to a middle-men, who is involved in buying and selling of the financial securities such as Banks, Investment Banks, pension funds, and insurance companies. Bank is the most important financial intermediaries in the Singapore financial system, who works as middle men in the transaction of financial securities. They work as credit analyst, which has the ability to assess the creditworthiness of the firms, who wish to borrow funds (Valdez and Molyneux, 2010). Being a financially intermediaries, Singapore banks has so much money to lend and they can easily diversify loans between the borrowers. Singapore banks may facilitate the flow of funds to the business firms as intermediaries to the investor, who are willing to purchase the securities. Financial Instruments A financial instrument presents ownership position in a public traded corporation. Financial market can be divided in many types such as- money market instrument, capital market instrument and hybrid instruments. The financial market of the Singapore covers the capital market instrument, it generally consists the long term financial instrument like shares and bonds. The debts security refers the money, which can borrow and it must be repaid with a particular interest rate at maturity date (Parameswaran, 2011). Equity refers the ownership held by shareholders such as stocks. Generally, a financial security is like a money maker instrument by which companies and other enterprises can raise new capital. Type of Financial Products and Services There are many products and services offered by banking system of Singapore such as insurance, derivatives, and credit and loans. It can played different roles in the Singapore financial system that helps the Noble Group to achieve its business objectives and goals. Nature of financial product and services is described as below: Insurance Insurance service is provided by Singapore banks to the Noble Group for the financial protection and to cover the risk against a range of events such as- damage of property, financial crisis, and loss. There are many types of insurance, which offers by banking system like Life insurance, property insurance, and casualty insurance. In the present context, it is possible for business to insured against the risk but not necessary to cover all the risk. In that case, Bank provides a service of financial adviser by which it helps the noble group in the selection of insurance policy (Annual report, 2016). Insurance policies are helpful for the company at the time of risk. With the help of different insurance, it can easily overcome the losses occurred in the company and achieve its objectives and goals. Credit and Loans Credit and loans is very important facilities provided by the banking system to the noble group. There are many types of credit facilities offer by the banks such as- loan for consumer durables, loan against deposits, loan against shares, and loan against LIC polices. Through the implementation of these facilities bank revolving the credit facilities and decide the amount, which the company want to withdraw. Apart from this, credit facility helps to manage the cost easily and it can help to take advantage of the opportunities (Noble Group, 2016). Banking system of the Singapore provides the facilities of financial advisor to the Noble Group by which helps to frame a plan for the use of amount to achieve the business objectives. Derivatives Singapore baking system provided derivatives facilities to the Noble Group, help to achieve the goals and objective of the company. Banks provides the derivatives facility related to hedging and commodity contract. With the implementation of this, company hedges their interest rate risk and increase the yield of the company. Bank is playing a role of intermediary, which maintains the relationship between the client and company (DBS Corporate Banking, 2016). It can help to reduce the FX exposure and increase the return on the currency investment of the company. Company in Focus Brief Background Information Noble Group Limited is a modern global commodities firm. It was founded in 1986 by Richard Samuel Elman and William James Randall. Noble group buy commodities and transform them into customized and consumable product through which they meet the requirement of the customer. Noble Group manages portfolio of supply chain across the range of industrial and energy products. The core strategy of noble group is to be best company in the whole world at the moving of physical commodity from producer to the consumer. Key business activities of Noble Group Figure-1 Key business activities of Noble Group (Source Annual report, 2016) Noble Group sources the physical commodities and transforms that into the customized product that meets the requirement of the consumers. It provides the logistic business service to the external as well as internal customers, providing the ocean transport. In additional to this, the logistic business provides the long term freight solution and the guidance to the external as well as internal customers of the company. Noble Group Limited provides the financial services that covering capital origination and customer financing solutions (Noble Group, 2016). This service generates business by unblocking new opportunities within the existing customers and providing the financial coverage the relationships with banks, institutional and other global pool of capital. Noble group applies the cash flow hedging accounting for some financial derivatives that are used to hedge the risk of the foreign currency fluctuations. The value of the company is enhancing the solutions transforming commodities by helping the customer in the hedging service that reduce the price risk. It is supported by the flexible structure of the company and trade finance solutions that added the dimension of service for the business. Accessibility and Financial system Financial system of the Noble Group can be access effectively through the different financial market, financial intermediary and financial instruments. It can be facilitated the business activities of the Noble Group. Financial Market Financial system of the Noble Group can be access through the capital market. Under the key business activities, price risk management and hedging facilities of the company is cover under the capital market. Capital market is used for the long term asset with the maturity date is more than one year. In additional to this, noble group includes the shares, bond, and derivatives to facilities the business activities of the company. It is executed forward in the freight derivatives market to hedges its physical freight exposures (Jackson, 2010). Further to this, it also engaged in the derivatives trading of crude oil. It mainly involve in the commodity contract such as physical commodity contract and cash commodity contract, which include commodity future, options swaps and forward freight agreements. Financial Intermediaries Banks act as a financial intermediary for the Noble Group to facilities its business activities effectively. This company partnered with the Australian bank that facilities the medium term prepayment facilities, which secured by the iron ore off take to noble group. An Australian bank provides the guaranteed payment stream with the minimum risk to this group that helps in the growth of business. Being a financial intermediary, Banks facilities comprise different type of credit facilities to the company for their financial arrangements. It works as a credit analyst through which they have the ability to access the credit worthiness of the company. Banks helps the company in the better management of its trade finance operations and improves the efficiency and effectiveness on global basis (Levinson, 2014). Further to this, banks play an essential role for accessing the financial system of the Noble group through managing the risk to achieve the positive rate of return. Bank plays an important role in the corporate governance of the company so that it can be maintain the legal and ethical environment and promote the interest of share holders. Financial Instruments Financial instruments play a role for the future benefit of the company. Noble Group is dealing in the long term financial instrument such as derivatives (future, option or swap), bonds, and shares. Financial instruments can be used to hedge the financial risk and price risk of the company. Shares are issued by the company to raised the money from the investor that is helpful maintain the business activities (Baker and Filbeck, 2014). These instruments provides a link between the investor and the company and it also play a crustal role for the arranging of invest funds of the company. Conclusion Financial system can be access through the financial market, financial intermediary, and financial securities. This report is concluded that the financial intermediary should check the credit worthiness of the client at the time of credit lending. Moreover, it was found that lender and the borrower have to disclose all the information at the time of transaction. There are many problems arise at the time transaction, which are to be overcome with the implication of many theory that reduce the transactional cost, provides help in the selection of best risk. Further to this, it can be concluded that many product and service provides by bank is helpful in achieving the key business activities of the Noble Group. Reference Adrian, T. and Shin, H.S. (2010) Financial intermediaries and monetary economics. FRB of New York Staff Report, (398). [online]. Available at: https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.189.809rep=rep1type=pdf (Accessed: 05/09/2016). Annual report (2016) Our Business Management. [online]. Available at: https://www.thisisnoble.com/images/investors/financialInformation/annualReport/ar2015.pdf (Accessed: 3/09/2016). Ansaloni, P.G. (2012) The Role of Asymmetric Information in Environmental Policy Settings. London: University of London. Baker, K.H., and Filbeck, G. (2014) Investment Risk Management. UK: Oxford University Press. Burton, M., Nesiba, F.R., and Brown, B. (2015) An Introduction to Financial Markets and Institutions. UK: Routledge. CESP (2016) Financial Intermediation and Delegated Monitoring. [online]. Available at: https://www.cfsp.org/publications/papers/financial-intermediation-and-delegated-monitoring#.V8lPTVt97Dc (Accessed: 2/09/2016). DBS Corporate Banking (2016) FX Derivatives. [online]. Available at: https://www.dbs.com.sg/corporate/treasury/derivatives/fx-derivatives (Accessed: 3/09/2016). Demirguc-Kunt, A., Feyen, E. and Levine, R. (2011) Optimal Financial Structures and Development: The evolving importance of banks and markets. World Bank, pp. 1-38. [online]. Available at: https://www.researchgate.net/profile/Ross_Levine/publication/265202090_Optimal_Financial_Structures_and_Development_The_evolving_importance_of_banks_and_markets/links/5523c95b0cf2b351d9c336aa.pdf (Accessed: 05/09/2016). Dilley, K.D. (2012) Essentials of Banking. US: John Wiley Sons. Golin, J., and Delhaise, P. (2013) the Bank Credit Analysis Handbook: A Guide for Analysts, Bankers and Investors. US: John Wiley Sons. Greebbaum, I.S., Thakor, V.A., and Boot, A. (2015) Contemporary Financial Intermediation. US: Academic Press. Jackson, K.J. (2010) Financial Market Supervision. US: DIANE Publishing. Levinson, M. (2014) The Economist Guide To Financial Markets. UK: Profile Books. Monetary Authority of Singapore (2016) Singapore financial centre. [online]. Available at: https://www.mas.gov.sg/ (Accessed: 3/09/2016). Noble Group (2016) about us. [online]. Available at: https://www.thisisnoble.com/#aboutus (Accessed: 5/09/2016). Noble Group (2016) Financial information. [online]. Available at: https://www.thisisnoble.com/#aboutus (Accessed: 3/09/2016). Onyiriuba, L. (2015) Emerging Market Bank Lending and Credit Risk Control: Evolving Strategies to Mitigate Credit Risk Optimize Lending Portfolios, and Check Delinquent Loans. US: Academic Press. Parameswaran, S. (2011) Fundamentals of Financial Instruments: An Introduction to Stocks, Bonds, Foreign Exchange, and Derivatives. US: John Wiley Sons. Pilbeam, K. (2010) Finance and Financial Markets. UK: Palgrave Macmillan. Property Metrics (2016) the Commercial Credit Approval Process Explained. [online]. Available at: https://www.propertymetrics.com/blog/2013/06/12/credit-approval-process/ (Accessed: 2/09/2016). Schwalbe, U. (2012) the Core of Economies with Asymmetric Information. Germany: Springer Science Business Media. THE TREASURY (2016) Current theories of financial intermediation. [online]. Available at: https://www.treasury.govt.nz/publications/research-policy/wp/2003/03-19/04.htm (Accessed: 2/09/2016). Valdez, S., And Molyneux, P. (2010) An Introduction to Global Financial Markets. UK: Palgrave Macmillan.