Wednesday, August 26, 2020

Doric Columns - All You Need to Know

Doric Columns - All You Need to Know The Doric segment is a compositional component from antiquated Greece and speaks to one of the five sets of traditional design. Today this straightforward segment can be discovered supporting many entryway patios across America. Out in the open and business design, outstandingly the open engineering in Washington, DC, the Doric section is a characterizing highlight of Neoclassical style structures. A Doric segment has a plain, clear structure, substantially more straightforward than the later Ionic and Corinthian section styles. A Doric segment is additionally thicker and heavier than an Ionic or Corinthian section. Therefore, the Doric segment is now and then connected with quality and manliness. Accepting that Doric segments could bear the most weight, old manufacturers frequently utilized them for the least degree of multi-story structures, saving the more thin Ionic and Corinthian segments for the upper levels. Antiquated manufacturers built up a few Orders, or rules, for the plan and extent of structures, including the segments. Doric is one of the soonest and generally straightforward of the Classical Orders set down in old Greece. An Order incorporates the vertical segment and the flat entablature. Doric structures created in the western Dorian area of Greece in about the sixth century BC. They were utilized in Greece until around 100 BC. Romans adjusted the Greek Doric segment yet additionally built up their own straightforward segment, which they called Tuscan. Qualities of the Doric Column Greek Doric segments share these highlights: a pole that is fluted or grooveda shaft that is more extensive at the base than the topno base or platform at the base, so it is put legitimately on the floor or ground levelanâ echinus or a smooth, round capital-like flare at the highest point of the shafta square math device on the round echinus, which scatters and levels the loada absence of ornamentation or carvings of any sort, albeit now and again a stone ring called an astragal denotes the progress of the pole to the echinus Doric sections come in two assortments, Greek and Roman. A Roman Doric section is like Greek, with two special cases: Roman Doric sections frequently have a base on the base of the shaft.Roman Doric segments are normally taller than their Greek partners, regardless of whether the pole distances across are the equivalent. Design Built With Doric Columns Since the Doric section was concocted in old Greece, it tends to be found in the vestiges of what we call Classical design, the structures of early Greece and Rome. Numerous structures in a Classical Greek city would have been built with Doric segments. Even lines of segments were set with scientific accuracy in notable structures like the Parthenon Temple at the Acropolis in Athens. Developed between 447 BC and 438 BC., the Parthenon in Greece has become a universal image of Greek human advancement and a notable case of the Doric section style. Another milestone case of Doric structure, with segments encompassing the whole structure, is the Temple of Hephaestus in Athens. In like manner, the Temple of the Delians, a little, calm space ignoring a harbor, additionally mirrors the Doric section plan. On a mobile voyage through Olympia, youll locate a singular Doric section at the Temple of Zeus despite everything remaining in the midst of the vestiges of fallen segments. Section styles advanced more than a few centuries. The monstrous Colosseum in Rome has Doric segments on the main level, Ionic segments on the subsequent level, and Corinthian segments on the third level. At the point when Classicism was reawakened during the Renaissance, planners, for example, Andrea Palladio gave the Basilica in Vicenza a sixteenth century facelift by consolidating section types on various levels-Doric segments on the principal level, Ionic segments above. In the nineteenth and twentieth hundreds of years, Neoclassical structures were roused by the design of early Greece and Rome. Neoclassical sections copy the Classical styles at the 1842 Federal Hall Museum and Memorial at 26 Wall Street in New York City. The nineteenth century engineers utilized Doric segments to reproduce the glory of the site where the principal President of the United States was confirmed. Of less greatness is the World War I Memorial appeared on this page. Worked in 1931 in Washington, DC, it is a little, roundabout landmark enlivened by the design of the Doric sanctuary in old Greece. An increasingly prevailing case of Doric segment use in Washington, DC is the production of designer Henry Bacon, who gave the neoclassical Lincoln Memorial forcing Doric sections, recommending request and solidarity. The Lincoln Memorial was worked somewhere in the range of 1914 and 1922. Finally,â in the years paving the way to Americas Civil War, a large number of the enormous, rich prior to the war estates were worked in the Neoclassical style with traditionally propelled sections. These straightforward yet great section types are found all through the world, any place exemplary greatness is required in neighborhood design. Sources Doric segment outline  © Roman Shcherbakov/iStockPhoto; Parthenon detail photograph by Adam Crowley/Photodisc/Getty Images; Lincoln Memorial photograph by Allan Baxter/Getty Images; and photograph of Federal Hall by Raymond Boyd/Getty Images.

Saturday, August 22, 2020

Definition and Examples of Jargon

Definition and Examples of Jargon Language alludes to the specific language of an expert or word related gathering. While this language is frequently helpful or important for those inside the gathering, it is generally good for nothing to untouchables. A few callings have such a great amount of language of their own that it has its own name; for instance, legal advisors use legalese, while scholastics use academese. Language is additionally some of the time known as dialect or cant. A section of content that if loaded with language is supposed to be jargony. Key Takeaways: Jargon Language is the mind boggling language utilized by specialists in a specific order or field. This language regularly assists specialists with speaking with clearness and accuracy. Language is unique in relation to slang, which is the easygoing language utilized by a specific gathering of individuals. Pundits of language accept such language accomplishes more to cloud than explain; they contend that most language can be supplanted with straightforward, direct language without relinquishing meaning. Supporters of language accept such language is important for exploring the complexities of specific callings. In logical fields, for example, specialists investigate troublesome subjects that most laypeople would not have the option to comprehend. The language the specialists utilize must be exact in light of the fact that they are managing complex ideas (atomic science, for instance, or atomic material science) and improving the language may create turmoil or make space for mistake. In Taboo Language, Keith Allan and Kate Burridge contend this is the situation: Should language be censored? Many individuals think it should. However, close assessment of language shows that, albeit some of it is vacuous pretentiousness...its legitimate use is both important and unobjectionable. Pundits of language, be that as it may, state such language is unnecessarily confounded and at times even purposely intended to prohibit pariahs. American writer David Lehman has portrayed language as the verbal skillful deception that causes the old cap to appear to be recently in vogue. He says the language gives a quality of curiosity and presumptive significance to thoughts that, whenever expressed straightforwardly, would appear to be shallow, stale, paltry, or bogus. In his renowned exposition Politics and the English Language, George Orwell contends that dark and complex language is regularly used to make lies sound honest and murder good, and to give an appearance of strength to unadulterated breeze. Language versus Slang Language ought not be mistaken for slang, which is casual, informal language in some cases utilized by a gathering (or gatherings) of individuals. The principle distinction is one of register; language is formal language one of a kind to a particular order or field, while slang is normal, casual language that is bound to be spoken than composed. A legal advisor examining an amicus curiae brief is a case of language. A teenager looking at making mixture is a case of slang. Rundown of Jargon Words Language can be found in an assortment of fields, from law to instruction to building. A few instances of language include: Due persistence: A business term, due determination alludes to the examination that ought to be done before making a significant business decision.AWOL: Short for missing without leave, AWOL is military language used to portray an individual whose whereabouts are unknown.Hard duplicate: A typical term in business, the scholarly community, and different fields, a printed copy is a physical printout of an archive (instead of an electronic copy).Cache: In processing, reserve alludes to a spot for shorts of detritivores incorporate night crawlers, ocean cucumbers, and millipedes. All encompassing: Another word for far reaching or complete, all encompassing is regularly utilized by instructive experts regarding educational program that centers around social and enthusiastic learning in extra to customary lessons.Magic slug: This is a term for a straightforward arrangement that takes care of an intricate issue. (It is typically utilized contemptuously, as in I dont think this arrangement youve concoct is an enchantment bullet.)Best practice: In business, a best practice is one that ought to be embraced in light of the fact that it has demonstrated viability.

Sunday, August 16, 2020

November Updates - UGA Undergraduate Admissions

November Updates - UGA Undergraduate Admissions November Updates We are now loading documents into our system following the release of Early Action decisions. Because electronic documents are received and processed much more quickly than paper, we are up-to-date with documents sent through GACollege411 and Docufide. If you have sent something online through either of these (and it was more than 2 business days ago), it should be showing as received in your myStatus. Documents that were submitted through the mail will take a little longer to match up as we were unable to add items to files for a little over two weeks in preparation for Early Action decisions. If you have submitted a paper document to us within the last two weeks and it is not showing as received, please be patient with us as we work as quickly as possible to match this material. The deadline for Regular Decision is January 15. All Regular Decision applicants and deferred Early Action applicants will have until January 15 to submit required material. We are able to accept January test scores as long as you designate UGA as a school to automatically receive your scores.If you are planning on applying Regular Decision, we do not suggest waiting until the deadline to apply. Please remember to continue monitoring your myStatus as you submit material! Go Dawgs!

Sunday, May 24, 2020

Marketing Philosophy - 1185 Words

MKT 101 Principles of Marketing Assignment 1- Essay Submitted To: Ashraf U Bhuiyan Submitted By: Afif Abdul Fattah ID# 2009-3-10-069 [pic] In the modern world, marketers want to build a customer driven marketing strategy for creating lasting customer relationships. To do this, they can use one of the five marketing management philosophies- production, product, selling, marketing and societal marketing concept. The appropriateness of these philosophies depends on the nature of the business and target market. Now we will discuss each of these philosophies for a particular product and compare them. The product is Prius, a hybrid car built by Toyota Motor Corporation. Marketing management Philosophies: ( Production†¦show more content†¦In the modern world one of the most important problems is energy crisis. Prius is the most fuel efficient and low emission motor vehicle according to United States Environmental Protection Agency (EPA).[1] So, Toyota is not only concerned about the customer needs but also society’s well-being. ( Product Concept vs. Selling Concept: In the selling concept, the aim often is to sell what the company makes rather than making what market wants. But in product concept the company at least makes improved version of products. For example, Toyota has improved Prius several times to attract more customers in American market.[2] Customers may not be pleased by watching impressive TV commercials but having a better product. So, in contrast with selling concept, product concept is more appropriate. ( Product Concept vs. Marketing Concept: The problem about product concept is that, company often too narrowly focuses on the company’s products rather than customer needs. But marketing concept understands customer needs better. The job of marketing concept is to create better solution of the customers’ problem rather than making better version of company’s products. By doing this marketing concept builds lasting profitable relationships with the customers. So, we can conclude that marketing serves better than the product concept. (Show MoreRelatedMarketing : Marketing Management Philosophy Essay770 Words   |  4 Pages MARKETING REFLECTION Every company has different idea and philosophies. Under marketing management philosophy there are five concepts. 1. Production Concept Consumers prefer products which are widely, easily available and cheap. Key features of this approach are: high production, mass distribution and low cost. This concept generally works in a developing country like India. Companies assume that consumers need this product hence they will buy itRead MoreMarketing As A Business Philosophy1378 Words   |  6 PagesThe concept of marketing to many people can often be simply perceived as trying to sell a product. Although, marketing is much broader than trying to sell products, it’s a philosophy that is complex which has many internal and external factors that all link back to the customer and value, which benefits should exceed the costs for both exchanging parties. This essay will initially explore the focus of marketing as a business philosophy and then explain the rationale behind the idea of successfulRead MoreMarketing Philosophy of Nestle2200 Words   |  9 PagesMarketing Marketing considers a given companies ability to satisfy the needs of a its targeted customers within a market which in return helps the company achieve its aims and objectives which are outlined in a mission statement. Introduction to Nestle Nestle is a globally recognised organisation founded by Henri Nestle in 1866 in Switzerland. Nestle claim to be the ‘worlds leading nutrition, health and wellness company’ and their mission is ‘Good Food and Good Life’. the Swiss organisation employeeRead MoreUsing example to analyse the five philosophies of marketing.1863 Words   |  8 Pagesrecently more and more people focus the importance of concept of Marketing because it has already improved the peoples viewpoint which how to deal the business. However, one of the most persistent conceptual problems in marketing is its definition. In the light of Philip Kotler, marketing definition consist of social definition and managerial definition. (Kotler, 2000, p7-8). According to the British Chartered Institute of Marketing, Marketing is the management process responsible for identifying, anticipatingRead MoreThe Philosophy Of Marketing And Effect1251 Words   |  6 PagesObviously, you may google persuasion † that is â€Å"and examine for hours. Just how do you know which to toss and which advice to take?. Believe it or not, concepts of persuasion remain constant. The recognized expert in marketing and effect is John Cialdini, whose Influence: The Psychology of Marketing, ground breaking work, retains a copyright date of 1984. (Budzowski, 2012) Here is an overview of the 6 principles of persuasion: Principle of reciprocation Provided that each and every individual tradition usesRead MoreEpistobabble Warfare1364 Words   |  6 PagesINTRODUCTION The article â€Å"Marketing: philosophy of science and â€Å"epistobabble warfare† is a commentary by the author Michel Rod published as a qualitative research in an International Journal, Vol. 12 Iss. 2, pp. 120- 129. Throughout the article Rod articulated his viewpoints on the variety of philosophies involved in legitimizing the science of marketing research and sought to establish his own perspective of what he actually believes marketing research should accomplish. This was stated inRead MoreEthical Decision Making And Religious Faith Essay1244 Words   |  5 Pagesand ethics including that of decision making: Moral decision making is frequently touched by one’s faith. However, the amount to which faith impacts moral decisions is very difficult to determine. What is still unclear is how particular religious philosophies, theories, ideologies or faith-based behaviors are correlated to stages of moral growth and ethical decision making. In keeping with the religion based decision-making analysis we must also look at potential biases that will exist, especiallyRead MoreEssay about Deontological Advertising 1279 Words   |  6 Pagesentities spend considerable amount of resources to advertising. The pharmaceutical industry is no different. It is with this context in mind and utilizing the Deontological framework, that I will examine the ethical fabric of direct pharmaceutical marketing to consumers. In the age of information, we are no longer limited to television and radio to obtain knowledge. As manifested by my own experiences, if someone would have told me fifteen years ago, that I was to complete my college education onlineRead More Business Ethics Essay1522 Words   |  7 Pages Business Ethics Ethics is a branch of philosophy that inquires into the nature of ultimate value and the standards by which human actions can be judged right or wrong (â€Å"ethics,† Collegiate). Ethics is not primarily concerned with the description of moral systems in societies. That task, which remains on the level of description, is one for anthropology or sociology. In contrast, ethics deals with the justification of moral principles. A Brief History of the Study of Ethics Ethics has been studiedRead MoreSigmund Freud in The Century of the Self Documentary by Adam Curtis1830 Words   |  8 PagesMarxist belief which recognizes a state of mind of a person or an assembly of individuals who don’t comprehend their class interests. A number of people who are academically affiliated with the Marxist practice trace the notions’ foundation to a philosophy initially established by Marx, well-known as commodity fetishism. Commodity fetishism is the notion that societies place a worth on merchandises separately from those they intrinsically have. For instance, a diamond, as soon as it grew into a

Wednesday, May 13, 2020

Girl Term - Free Essay Example

Sample details Pages: 4 Words: 1216 Downloads: 1 Date added: 2018/12/28 Category Literature Essay Type Definition Essay Level High school Tags: Empowerment Essay Did you like this example? A girl is a term used to refer to a female being who has not reached is the stage between birth and adulthood, before she is seen to as a woman. A girl is also nicknamed as a young woman. The author of the short story girl is talking about a daughter receiving guidance from her mother on how to handle herself and the people around her. Don’t waste time! Our writers will create an original "Girl Term" essay for you Create order The daughter was to know how to handle men, how to push through with daily chores and how to maintain her dignity as a young woman. The author further talks about woman empowerment and the rules that govern traditions and customs of the society. (Definition of GIRL) Woman empowerment is defined as the opportunity a girl child is given to deliver what she is right in.Woman empowerment fights for the rights of a girl child whereby, she is supposed to be given equal chances as the boy child on matters like education and responsibilities although some of them differ. Although the locality of the story is not mentioned, it is believed to have come from West Indies because of the traditions and storyline of the people used in it. As the mother was advising the child, she allowed obstruction only when the daughter was justifying herself or when she had a question to ask on the topic discussed. Womanhood is defined as how a woman maintains cleanliness in the house and its environment near her. A woman should not only consider looks or how much makeup she can apply to be seen prettier but how clean she is with house chores.A woman is seen as a keeper. (Shri Harini Media Limited.) She should be superior when it comes to the environment around the house by ensuring cleanliness. It is seen as suicidal when a woman breaks the rule of purity. Motherly advice is given from one generation to the next is essential as a girl child to listen and learn to provide the same information to your future children. As part of the opinion, the mother is supposed to teach her daughter the customs and traditions of their community. Customs and traditions are expected to be followed strictly since breaking them is a taboo. The mother in the short story girl continued advising her daughter on the things she should do and what she should not.She showed her how to set the table for tea, lunch, and supper. Presentation of food is necessary because clean and well-arranged food increases appetite. She was shown how to iron her fathers khaki trousers to avoid creases. This was to prepare her for the ironing of her future husbands clothes. She was warned against entertaining wharf-rat boys because she would appear as a slut or contract sexually transmitted diseases or get pregnant. She was shown how sweeping of the whole house, the yard and the corners of the house since edges are the hideouts of dust and cobwebs. Smiling is a weapon to express love to people around, so she was shown how to laugh to people she does not like at all, people she likes entirely and those she does not like too much. When planting the okra, it is necessary to grow it away from the house since it is a habitant of red ants that are harmful. (P.228-229) She was told that sheen requires a lot of water while growing to avoid the itching of the throat while eating. She was taught how to sew buttons and make buttonholes on shirts trousers and dresses. How to make hems on a skirt coming down to avoid people mistaking her for a slut she is not. In the presence of men she does not know well, she was guided on how to behave well to avoid being judged.Squatting to pick marbles was not allowed since she is not a boy. Picking of flowers was not allowed because she would touch things that were not that good. Throwing of stones at the blackbird was also not allowed since she could mistakenly kill other birds thinking they were all blackbirds. She was shown how to make doukona (is a boiled cake made of potato), bread pudding and a pepper pot. These are some of the meals eaten by the West Indians. She was further guided on how to make good medicine for the cold, when to throw medication that was not good for consumption and how the drugs for child ren are made. She was shown how to soak fish in salt overnight before cooking, how to prepare it, how to throw it back if not needed and how to avoid predicaments. She was shown to differentiate between men who truly loves her, when she is being bullied and when to intimidate a man. Clothes are to be washed daily, and she is supposed to soak white garments immediately they are taken off. White clothes and colored are to be cleaned on different days dried on a stone heap and folded neatly. She is supposed to choose clothes made of cotton with no gum to stretch while washing or drying to avoid loss of shape. (Siqueira) On Sunday she is not supposed to sing benna in church or give directions to the boys. She should avoid eating on the streets since it is seen as unethical and she may be misquoted. She was shown how to cook pumpkin in hot oil to make them taste yummy. Practice makes perfect. Although she may forget some of the steps taught, she was not supposed to give up but continue trying. She was finally told to behave in her best behavior so that she would not be denied favors if she requested for any or lose her dignity. The girl child was to act as the pillar of the family. She was supposed to take care of the children and the husband. Also, the extended relatives looked up to her for both physical and moral support. Her multitasking ability was to be seen when doing so many tasks at a go just to keep everything in order. The novel summarizes the roles and rights of the girl child. She is taught what to do and what she should fight for instead of letting anyone oppress her. The mother vividly advised her daughter not to give up even if things dont seem to go the right way. The passage of advice from one generation to another helps in the maintenance of dignity, customs, and traditions from one generation to another. I can conclude by saying the mother in this story was strict since she did not want to be distracted at all while giving is good for the daughter to listen and learn because she would be the role model to the generation to come. (P.228-229) Works Cited Definition of GIRL. Dictionary by Merriam-Webster: Americas Most-trusted Online Dictionary, Shri Harini Media Limited. Groups and Discussions on Child Development Parent circle. Parenting India Magazine, Parenting Tips, and Advice, Child Development ParentCircle, Siqueira, Renita. Welcome The Girl Child Parentcircle. Parenting India Magazine, Parenting Tips and Advice, Child Development ParentCircle, 12 July 2017,

Wednesday, May 6, 2020

Modern Myths Free Essays

Modern myths still pervade North American societies. Many of these modern myths were the products of Indian folklore or pre-modern American society. Although many claimed that such myths were a form of religious fanaticism or fervor, it can be argued that they were the result of historical speculation of early North American societies of their immediate environment. We will write a custom essay sample on Modern Myths or any similar topic only for you Order Now These modern myths are nonetheless powerful and to some extent influenced the behavior of many noted American personalities. Here is an example of a modern North American myth. Urban Legend: Bloody Mary (Schlosser, 2006) There was a young woman who sleeps deep in the forest. Her livelihood was selling herbal medicines in a nearby village. The townspeople though regarded her as a witch; hence no one dared to approach her, even the hardest criminal in the area. Many believed that whoever talk or approach her would be cursed or sold to the devil. She was feared indeed. Then, little girls in the town began to disappear. No traces of the girls were found. Families of the disappeared girls began to search; in the farms, barnyards, and even the forest. Some of the men went to the house of Bloody Mary, but altogether she denied all allegations. The men noted that Bloody Mary looked younger and more attractive. They became suspicious of Bloody Mary, although no proof cold be found. Then one night, the daughter of the miller rose from her sleep and began to walk outside as if following an incantation. The wife of the miller saw the incident and reported it immediately to her husband. The two restrained the girl indiscriminately in order to prevent her from breaking away. Many people were awakened by the cries of the couple. Then, a farmer shouted that the cause of the incident is coming from the woods. Then, some people saw Bloody Mary holding a magic wand pointed to the house of the miller. When Bloody Mary saw the angry townspeople, she fled to the woods. A keen shooter farmer loaded his gun with silver bullets and shot the witch in the hip. Bloody Mary was carried by the townspeople to the field, where a large bonfire was awaiting her death. As Bloody Mary burned, she screamed a curse. If anyone mentioned her name before a darkened mirror, she would send her spirit to revenge upon them for her death. Unmarked graves of the little girls were found by the townspeople. They learned that Bloody Mary used to drink the blood of her victims to make her young again. It was passed on from generations to generations that whoever chants Bloody Mary three times on a darkened mirror, this would summon the vengeful spirit and rips the body and soul of the person. Social Significance of the Myth (Bloody Mary) The social significance of the myth discussed above can be seen in the various movies and accreditation the myth received from the movie industry. The myth is a powerful tool of revenue creation as with this specific industry. In the past 30 years, there were about 500 versions of this myth, all focusing on the â€Å"horror† part of the film, that is, the darkened mirror and the chanting of the words â€Å"Bloody Mary.† It is of no doubt that because Bloody Mary films became successful ventures, it is right to assume that its basis, the original myth, still exerts considerable influence on the part of the audience. According to the Encyclopedia of Folklore and Literature, urban legends and myths are usually defined as â€Å"apocryphal contemporary stories, told as true and usually attributed to as friend of a friend.† In most instances, the myth of Bloody Mary is perceived to be true by virtue of the fact that the story is assumed to be true by the storyteller. Although the story is non-existential or in short not real, the audience may find it true because of the way the â€Å"channel.† Because the channel presents the story as â€Å"true†, the receiver nonetheless assumes it to be also true. The channel here maybe defined as â€Å"the means of acquiring the information about the particular myth or urban legend (as in this case).† Movies and bonfire storytelling are the most efficient and effective means of transmitting the myth from one person to the other, without losing the track of credibility. It is no wonder that most Bloody Mary films are inconclusive, that is, they left the audience wondering whether the myth was true or not (to make a room for affirmation of the myth). Now it is safe to assume that even in North American societies, particularly in the United States, the myth of Bloody Mary pervades in some aspects of life. Children, particularly girls, are told of the story of Bloody Mary by their parents as a means for exacting obedience (negative reinforcement). For those in their teenage years, the story of Bloody Mary serves as a background check for their behavior.   They prevent themselves from going to forests without the guide of adult individuals. They also stay away from dark places with mirrors for fear that the myth may prove to be true. Although for them, the story of Bloody Mary is factual since there were individuals who reported that they saw Bloody Mary ripping the body of their friends. Going back to the definition of a myth or urban legend, the storyteller assumes that his/her story is true in order for the audience to feel its negative effect (affirmation of the story). There were reported cases when robbers were scared to their â€Å"pants† when they entered a house (without electricity) with a darkened mirror in the entertainment room. There were also reported cases when a man brushing her teeth in a nightclub and jokingly uttered Bloody Mary three times. A face appeared before him. He ran outside the club shouting that Bloody Mary did exist. He promised that he would never visit the nightclub. The woman who appeared to him was a prostitute, not Bloody Mary. This proves that even though the myth is not real, people usually perceives it as real. The primary cause of such behavior is the channel that make the story real or â€Å"seem real.† The myth is as powerful as before. Although it can be assumed that its effects on the values of an individual may be accidental and in many cases derived from the characters of Bloody Mary films. References Schlosser, S.E. 2006. Bloody Mary. URL Retrieved September 19, 2007. 1800 Myths, Legends, and Folklore Links. URL Retrieved September 19, 2007. How to cite Modern Myths, Essay examples

Monday, May 4, 2020

Financial Analysis AGLs Performance

Question: Describe about the Financial Analysis for AGLs Performance. Answer: Executive Summary The report given aims to highlight AGLs performance in FY2015 and compare the same with the previous year i.e. FY2014. Besides, a competitor has also been chosen in the form of Genesis Energy and performance is compared for the corresponding time period. The differences in the ratios of the two companies have been explored and based on this analysis investment advice has been given to the reader. Introduction AGL Energy is an Australia based integrated energy company which is involved in the complete energy value chain right from generation to marketing and distribution, The retailing of electricity is extended not only to residential customers but also commercial customers. The company even though was founded in 1837 but has assumed the current name only in 2006. The company has a host of coal based and gas based power plants and also focuses on the renewable segment namely wind, hydro and solar. The company boasts of having the largest portfolio of renewable energy plants in the Australian private sector (AGL Energy, 2015) Genesis energy is a Auckland based company which was formed on the back of energy reform way back at the turn of the millennium. Besides, electricity generation, the company also deals with LPG and natural gas retailing. The company has dual listing on both ASX and New Zealand Stock Exchange. It is a dominant player in the NZ market accounting for 42% and 26% market share with regards to retailing of natural gas and electricity respectively. With regards to electricity generation capacity, also, the company is the third largest private sector company in NZ (Genesis Energy, 2015). Income Statement AGL Energy The revenue growth is lacklustre for the year FY2015 and has come primarily on account of the acquisition of the New Energy Ltd. However, the concerning aspect for the company should be the muted growth in profits as on one hand the energy markets division continues to deliver stellar performance but the other operations has posted a significant loss which have tapered the gains made by the energy markets business. The requisite profitability ratios for AGL Energy over the period 2014-2015 are summarised below (AGL Energy, 2015) The above ratios indicate the lacklustre performance of the company in the year FY2015 when both ROA and net profit margin have witnessed a drop. One of the contributory reasons is the lack of growth in the revenue in certain segments of the energy markets particularly in the renewable energy segment. Further, with regards to profitability margins, the renewable energy segment has been a drag on the energy markets segment which otherwise would have posted even stellar results on the back of growth in the wholesale markets. Additionally, integration costs totalling to $15 million have been incurred for integration of New Energy Ltd in FY2015. However, the single largest factor that has contributed to reduced profitability is the other operations business segment which has operating losses. With regards to ROA, besides decreasing profit, the rising total assets also have made a contribution (AGL Energy, 2015) Balance Sheet AGL Energy With regards to the FY2015 balance sheet, only fixed assets and current liabilities have experienced significant change, however, the current assets have continued to retain their level. The increase in fixed assets in FY2015 has been to the extent of $ 1.6 billion primarily due to investment by the company in PPE. Also, the short term borrowings have surged by $ 398 million in FY2015, thus leading to the higher current liabilities at the end of FY2015. The relevant liquidity and capital structure ratios for the company are given below (AGL Energy, 2015) The above values suggest that short term liquidity ratios have shown a declining trend in FY2015. However, this is due to the constant level of current asset but an increase in the current liabilities level due to higher short term borrowings as explained above. Further, since the company is into energy retailing, hence inventories are typically lower sue to which quick ratio and current ratio both are above one. With regards to the long term liquidity, a critical parameter is debt to equity ratio which has decrease in FY2015. This is despite the fact that there has been an increase in the total liabilities. However, the increase in equity has been substantial primarily because of two reasons. One, the company has issued new shares to the tune of $ 1.2 billion in FY2015. Also, there has been contribution of the retained earnings from the income statement. This surge in equity is also responsible for increasing equity ratio despite the increase in total assets (AGL Energy, 2015). Cash Flow - AGL Energy The cash flow statement primarily consists of three major elements i.e. cash from operating activities, investing activities and financing activities. In the year FY2015, cash flow from operating activities increased by $ 443 million because the suppliers and employers were given lower payments in cash. The investing cashflow saw a huge jump in the cash outflow due to the company acquiring New Energy for $ 1.4 billion approximately. There was a net outflow in cash flow due to financing due to increase in repayment of loans in FY2015 as compared to the previous year (AGL Energy, 2015) Market Performance AGL Energy The market performance parameters for AGL Energy are summarised below. (AGL Energy, 2015) It is evident from the ratios above that there has been a decline in the EPS of the company which has been contributed to by both the declining profitability of the company along with rise in the total outstanding shares of the company as the share capital saw a significant in the year Fy2015. The company has significantly increased the dividends paid to the increased shareholders which caused a rise in the per share dividend and is incremental for shareholders (AGL Energy, 2015) Performance Comparison AGL Energy and Genesis Energy The comparison in the performance of the two companies is captured in the table outlined below ((AGL Energy, 2015;Genesis Energy, 2014). Profitability In FY2014, while AGL Energy leads in terms of profitability, the picture has turned upside down in FY2015 when Genesis Energy has the edge. Further, considering the lacklustre performance of the renewable segment in the absence of a stable climate policy in Australia, it is expected that underperformance would continue unless definite policy stance emerges and also the prices of CER recover globally (AGL, 2015) Liquidity- Both the companies do not face any short term liquidity crisis since the current ratio and acid ratio are maintained at level above one. The corresponding ratios for AGL is higher than Genesis primarily because of higher account receivables for the former owing to wholesale consumer portfolio. Gearing The gearing ratios for the companies seems similar and simultaneously hint that no liquidity issues are expected in the near future foe any company. Also, the operating profits generated by both company is healthy enough so as to meet the interest obligation (Petty et. al, 2015). Market performance While in absolute terms the EPS of AGL Energy may be higher but the growth potential seems to be higher for Genesis Energy which has registered a growth of 100% in the EPS in FY2015. This is also confirmed from the high P/E ratio in excess of 20 for Genesis as compared to P/E of 6-7 for AGL Energy. Similar case is witnessed in case of dividends where in absolute terms, AGL has the edge but in terms of dividend yield, Genesis is better off. Efficiency Ratios- The higher debtor turnover observed in case of Genesis may be explained on the basis of difference in revenue contribution of wholesale segments for the two companies. Conclusion The above trend analysis coupled with ratio analysis, hints to the fact that the performance of AGL Energy has diminished in the year FY2015 as compared to the previous year. This trend is also observed in the companys stock price which has been range bound. However, the Genesis company has showed a stellar performance with both topline and bottomline growth. However, it is imperative that these historical trends should be viewed cautiously as future trends may be significantly different (Damodaran, 2008). Also, it is possible that the accounting policies of the companies may not be same due to which the ratios may not be comparable. Further, the two players operate in two different markets and hence the woes of AGL may be attributed to uncertain policy regime in Australia (Parrino Kidwell, 2011). Recommendations Based on the limited analysis that has been conducted above, it is recommended that investment should be made in the competitor i.e. Genesis energy. The factors favouring this decision are highlighted below (Brealey, Myers Allen, 2008). High dividend yield of 5-7% on the stock. High growth potential offered by the company in the NZ market which is also captured by the high P/E ratio. Low leverage and dominant position which can be further leveraged to enhance coverage and thereby drive greater growth. References AGL Energy 2015, Annual Report 2015, Available online from (Accessed on August 31, 2015) Brealey, R, Myers, S Allen, F 2008, Principles of Corporate Finance (Global edition), 10th edn, McGraw Hill Publications, New York Damodaran, A 2008, Corporate Finance, 2nd edn, Wiley Publications, London Genesis Energy 2015, Annual Report 2015, Available online from (Accessed on August 31, 2016) Parrino, R Kidwell, D 2011, Fundamentals of Corporate Finance, 3rd edn, Wiley Publications, London Petty, JW, Titman, S, Keown, AJ, Martin, P, Martin JD Burrow, M 2015, Financial Management: Principles and Applications,6th edn, Pearson Australia, Sydney