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Tuesday, 14 August 2018

Unit 3 Human Resources Management – Morgan Hunt

3.1 assess the link between motivation theory and rewards

The process of getting the work done from the employees in a desired manner and eliciting desired behaviors from the employees is called motivation. According to Maslow’s Theory of motivation as applicable in case Morgan Hunt, the employee motivation is directly correlated to their needs and the needs are divided in to five types starting with the lowest order needs as Physiological which includes food, clothing and shelter which are satisfies by the Morgan Hunt through paying equitable remuneration to the employees and safety needs which is fulfilled by Morgan Hunt through providing safe working conditions to the employees. the next level of needs include Social needs where Morgan Hunt provides for developing a sense of belongingness and group interactions in the company employees; Self esteem needs which is satisfied by the company through use of rewards for good performance and self actualization are the highest order needs of any individual where the company provides chances for development of the employees. The company owns a two star status which entails that it is a favorable workplace as voted by the employees of the company and employees are motivated to perform high. Thus the company Morgan Hunt is successful in growing at such a quick rate due to its motivated and committed employees (Rani et al, 2012).

3.2 evaluate the process of job evaluation

As Morgan Hunt is a leading recruitment service provider at UK, thus the company continuously involves in the process of Job evaluation which deals with analyzing of the various elements of the job and determination of the pay structure in accordance with the needs of skills and competencies for the particular job. The company continuously involves in getting feedbacks from its employees about their views of how they perceive their job situation and how far are they satisfied or they feel that they are paid in accordance with their skills or others. It helps to form a structure of the payment systems in the organization by the determination of the skills and the needs of the job in relation to another, their relative significance and thus payments accordingly. The various factors determining the compensation or pays include individual and group performance, skills, competencies of the individual and contribution to the organization or the group objectives (Conaty et al, 2014).

3.3 assess the effectiveness of reward systems in different contexts

The reward system is an important aspect in keeping the employees motivated and well performing as in case of Morgan Hunt. The company also for the rewards in two different manner, one is through the use of payment in the form of incentives, bonuses, indirect befits in form of health benefits or memberships, etc. and the other include the rewards in the form of recognition through an award giving system at the company which is related to the self esteem needs of the employees and increased responsibility follows. This helps the companies to retain the talented people in the organization and also help in attracting talents to work in such a workplace. Also reward systems help to motivate the individual to improve their performance towards the organizational goals and this also keeps the human resources in the organization functional. Also this helps the company to match the payments to the performance through bonuses or incentives for good performing individuals apart from the basic salaries.

Monday, 13 August 2018

Unisex Fashion Jewelry Presently Assignment

Why all women should consider Wearing a Leather Bangle-Unisex Fashion Jewelry Presently

jewelry is becoming popular to girls and it is now it is difficult for every woman to go out without having an anchor bracelet. It is important for everybody to get contorted leather bangle-unisex fashion jewelry it look much more stylish. It ordinarily gives esteem for cash and serves all needs of women. The reason why this jewelry is perceived to be efficient is that they are machine made. These kinds of jewelry reflect the beauty and emotions of a person’s life. Notably, competitive prices are available with larger runs or multi-color using the company in-line machines. Over the years, the number of leather bangle-unisex fashion jewelry has been rising tremendously because of customers’ motivation. Their motivating factor is that they normally come with attractive designs and attractive styles that make them look beautiful Many of these leather bangle-unisex fashion jewelry are of high quality as well as strong and sturdy. For example, they are made of gold and silver, which are exceptionally alluring to customers. Notwithstanding being cheap, it is clear that numerous consumers like to purchase considerable costly things that are solid as opposed to purchasing low-quality items. Leather bangle-unisex fashion jewelry enhances a consumer’s solace when travelling or doing different exercises. These jewelries come in distinctive shapes and sizes to provide food for diverse individuals needs. Often, a customer can ask for his or her inclination to abstain from manufacturing jewelries that are not fulfilling to consumers. They normally have a good appearance thereby attractive many men and women. Leather bangle-unisex fashion jewelries are much in vogue and add style to women’s character. They are intended to fit distinctive class of individuals running from common laborers to unemployed. Their uncovered twisted handles make them one of a kind to different leather bangle-unisex fashion jewelry in examination to other comparable business products. These jewelries have alluring hues with diverse plans, which are generally attractive to a consumer. In recent age, they have become very popular because they are perceived to show beauty and carry an important element to women. Another critical thing to note is that they are reusable, which implies they are replaceable. Case in point, if a client needs to change something on leather bangle-unisex fashion jewelry, perhaps changes a name, or with another of distinctive hues, a manufacture has made it possible. Obviously, numerous customers like to change jewelry name after a couple of months to suit their needs such as change their personality. By changing the color of the leather, bangle-unisex fashion jewelry can be possible but it is normally allowed as per a customer’s discretion. The materials used to make these leather bangle-unisex fashion jewelry are harmless, which implies they do not react with any substance. It is critical to underline on its leather material component because they are of high quality and with a satisfying appearance. In addition, they are excellent, comfortable to hold, and impact qualities empower potential customers to buy them. It is reasonable that numerous clients of leather bangle-unisex fashion jewelry require things that are in vogue, so they can be branded with an organization’s logo to entice potential customers. Their simplicity of wearing it, this is, they are light, which offers an extraordinary a great advantage to a customer. These leather bangle-unisex fashion jewelry are intended to be wore by any individual without discrimination. None of the jewelry is meant for people of a particular race or color. Some customers put it on their arms and some people argue that they are helpful to control a person’s mind and concentrate on what one does thus increases their comfort. Summarily, leather bangle-unisex fashion jewelry greatly influences women. In this era, majority of women believe that jewelry is the norm and everyone including men should start acknowledging them in light of the fact that they are cheap, sturdy, simple to wear, and they can improve a person’s comfort. At the end of the day, it is normal for women to go out without or with wearing leather bangle-unisex fashion jewelry despite having all these advantages stated above. On the other hand, they vicinity in the business sector are responding to be enhanced to consumer’ necessities.

Accounting Assignment Help UK

SECTION 1: SHORT ANSWER PROBLEMS

Vindaloo Corporation reported retained earnings of $400 on its year-end 2002 balance sheet. During 2003, the company reported a loss of $40 in net income, and it paid out a dividend of $60. We will calculate retained earnings for Vindaloo’s 2003 year-end balance sheet.

Retained earnings for Vindaloo’s 2003.

Particulars	Amount
Retained Earning 2002	400
Less : Loss during The year	40
Less : Divided pay out	60
Retained Earning 2003	300

A firm has an ROA of 8%, sales of $100, and total assets of $75. Lets calculate its profit margin.

Total Assets	$ 75.00
8% ROA	$ 6.00
(Total Assets * ROA = 75*(8/100) = 6)
Total Sales	$ 100.00
Profit Margin	$ 6.00
(Profit / Total Sales = )

Given the following information: profit margin = 10%; sales = $100; retention ratio = 40%; assets = $200; equity multiplier = 2.0. If the firm maintains a constant debt-equity ratio and no new equity is used, what is the maximum sustainable growth rate (SGR)? (Assume a constant profit margin.)

Particulars	Details
profit margin	10%
Sales	100
Total Profit	10
Retention	4
Total Assets	200
Equity Multiplier	2
Total equity	100
(Total Assets/ equity multiplier)
Total debt	100
Debt Equity ration constant

ROE	0.1
Retention Ratio	40%
ROE* Retention Retio	0.04
1-ROE* Retention Retio	0.96
SGR=ROER.R/1-ROER.R	4.17%

Your brother-in-law invests in the stock market and doubles his money in a single year while the market, on average, earned a return of only about 15%, here a discussion is done whether your brother-in-law’s performance a violation of market efficiency or not.

No, brother in law performance is not violation of market efficiency; this indicates that Brother in law has taken much higher risk than the average market. If it suits him so be it (Preda, 2009).
This could also indicate that the Brother in law had some good market tips and exited at most opportune time without hanging around with the stocks.

Iggie’s Used Cars will sell you a 2002 Suzuki Aerio for $3,000 with no money down. You agree to make weekly payments of $40 for two years, beginning one week after you buy the car. What is the EAR of this loan?

For calculating Ear, formula is

Where EAR=Effective annual rate
K=Nominal interest rate
M=Compounding frequency per year (Randall, 2007)

Lets calculate Nominal rate of interest.

NOMINAL RATE OF INTEREST= (difference in total amount paid per year/total amount paid)/100

[ 4160-3000=1160 For 2 yrs = 580 per yr]

=(580/3000)*100= 19.33%

Putting value in EAR we get

EAR = (1+19.33/52) – 1

Solving this we get EAR= 21.2812 %

Rebus company is trying to make a decision between two projects. Their calculations are as below.


Year	Project I	Project II
Payback (yrs.)	2.053 Year	1.92 Year
Discounted Payback (yrs.)	2.44 Year	1.25 Year
IRR	15.41%	28.44%
NPV	3907	3843

Payback period calculation

PROJECT A		PROJECT B
Cash inflow	cumulative cash inflow	Cash inflow	cumulative cash inflow
8500	8500	6500	6500
9000	17500	6000	12500
9500	27000	7000	19500

Project A

Payback period = 2 yrs + [18000-17500 / (27000-17500)]

= 2.053 years

Project B

Payback period = 1 yrs + [12000-6500/ (12500-6500]

= 1.92 years

Discounted Payback period calculation

PROJECT A				PROJECT B
Cash inflow	Discounted fector (11%)	cumulative cash inflow	Cash inflow	Cash inflow	Discounted fector (11%)	cumulative cash inflow	cumulative cash inflow
8500	0.9009	7657.65	7657.65	6500	0.9009	5855.85	5855.85
9000	0.8116	7304.4	14962.05	6000	0.8116	4869.6	10725.45
9500	0.7311	6945.45	21907.5	7000	0.7311	5117.7	15843.15

Project A

Discounted Payback period = 2 yrs + [18000-14962 / (21907-14962)]

= 2.44 years

Project B

Payback period = 1 yrs + [12000-10725/ (15843-10725]

= 1.25

Net present value (11%IRR)

Project A

21907-18000=3907

Project 2

15843-12000= 3843

Calculation of internal rate of return (IRR)

PROJECT A
year	cash inflow	discounted factor@15%	discounted cash inflow	discounted factor@16%	discounted cash inflow	discounted factor@14%	discounted cash inflow
1	8000	0.869	6952	0.862	5992.624	0.877	5255.5
2	9500	0.756	7182	0.743	5336.226	0.769	4103.5
3	9000	0.657	5913	0.64	3784.32	0.674	2550.6
		3.351	20047	3.273	15113.17	3.273	11909.7

IRR using interpretation formula Project A = 15% – (18000-15113.17/ 20047-15113) = 15% – 0.5851 = 15.415%

PROJECT B
year	cash inflow	discounted factor@28%	discounted cash inflow	discounted factor@29%	discounted cash inflow	discounted factor@30%		discounted cash inflow
1	6500	0.7813	5078.45	0.7752	5038.8	0.7692		4999.8
2	6000	0.6104	3662.4	0.6001	3600.6	0.5917		3550.2
3	7000	0.477	3339	0.4658	3260.6	0.4551		3185.7
		3.351	12079.85	3.273	11900			11735.7

IRR using interpretation formula Project A = 29% – (12000-11900/ 12080-11900) = 29% – 0.556 = 28.44%

SECTION 2

Problem 1

Assets	Amount	25%	90% capacity of acutal
Cash	50	62.5	45
Inventory	150	187.5	135
FA	600	750	540
Total	800	1000	720
Liability	Amount	25%
Accounts payble	100	125	90
Notes payble	100	125	90
long term Debt	350	434	477
Equity	250	250	250
	800	1000
Reserves and Surplus	0	66	47

Particulars	Amount	25%	90% of actual
Sales	800	1000	720
Cost	600	750	540
Profit	200	250	180
Taxes	68	85	61
	132	165	119

a) External finance if sales increased by 25% :

Effect of increase in 25% sasles is already given in the table above.

As menationed in question, 40% is retained.

So retained profit=165*40/100=66 (add as reserves and surplus to liability)

Now if we balance both sides we get Long Term debt = $ 434

So total external financing need is $434.

Firm is producing at only 90% capacity

In this case, looking at figures in above calculation, external financing will increase from $434 to $477 due to decrease in working capacity. Since amount of profit retained is less, the firm has to maintain more external financing to meet its requirement.

B) Suppose the firm wishes to maintain a constant debt-equity ratio, retains 60% of net income, and raises no new equity. Assets and costs maintain a constant ratio to sales. What is the maximum increase in sales the firm can achieve.

Lets find debt equity ratio.

Debt-to-Equity Ratio =	Total Liabilities
	Shareholders’ Equity

= 800/250 = 3.2

Looking at the calculation above, there can be no change in total liability or equity amount as debt equity ratio is to be maintained. So any change to be made in liability side can be only done through change on long term debt. As plant is already operating on 100% capacity, the maximum possible sale is $800

Problem 2

The managers of Magma International, Inc. plan to manufacture engine blocks for classic cars from the 1960s era. Cetain values are given. We will calculate following things

1) Depreciation tax shield in the third year for this project (Nissim, 2002).

CCA at 30% = Machinery Cost*30%

Depreciation tax shield = Machinery cost- CCA

Machinery cost	CCA @30%	Depreciated Tax shield
800000	240000	560000
560000	168000	392000
392000	117600	274400

2) Present value of CCA tax shield

Machinery cost	CCA @30%	Depreciated Tax shield	Discounting Factor	Present value of Cca tax shield
800000	240000	560000	0.892857143	500000
560000	168000	392000	0.797193878	312500
392000	117600	274400	0.711780248	195312.5
274400	82320	192080	0.635518078	122070.3125
192080	57624	134456	0.567426856	76293.94531

Discounted Value @ 12% = 1st year = 1/1.12

= 2nd yr = 1st year discounted rate/ 1.12

3) the minimum bid price the firm should set as a sale price for the blocks if the firm were in a bidding situation

price of machine	800000
cost for block	125000
fixed cost	125000
total cost	1050000
less salvage value	150000
total cost	900000
less depreciation @30%	630000
add: Tax@35%	850500

From above table, the firm has to bid a minimum amount of $850500. It can add industry profit to it and bid accordingly.

4) NPV of this project

Inflow
Year	Profit	Depreciation	PBT	PAT	Disc Factor @ 8%	PV of Cash Profit
2	150000	45000	105000	36750	0.892857143	32812.50001
3	150000	45000	105000	36750	0.797193878	29296.87502
4	150000	45000	105000	36750	0.711780248	26157.92411
5	150000	45000	105000	36750	0.635518078	23355.28937
6	150000	45000	105000	36750	0.567426856	20852.93696
						0
				Total PV cash profit		132475.5255
Salvage of plant & machinery				150000

TOTAL INFLOW

Net cash Inflow				-17524.47454

PROBLEM 3

cost of equity based on the dividend growth model

Cost of Equity = (Next Year’s dividends per share / Current market value of stock) + Growth rate of dividends

= (1.8/8)+4% = 6.17%

Cost of equity = 6.17 %

cost of equity based on the security market line

Cost of equity = rf + Bs(Emkt – rf)

Where: rf = the risk-free rate
Bs = the beta of the investment
Emkg = the expected return of the market

Here cost of equity = 4+ 1.2 (12-4) = 13.6 %

the cost of financing using preferred stock

The cost of preferred stock is equal to the preferred dividend divided by the preferred stock price, plus the expected growth rate.

SO here in this case, Cost of Preferred stock = (1.8/83)+12 = 12.01

pre-tax cost of debt financing

lets calculate

1- (Company tax rate/100) = 0.66

Pre tax costing = (400000*83)/.66 = $50303030

weight to be given to equity in the weighted average cost of capital computation

In financial decision making, financing of firm’s assets is done by either debt or equity. The weighted average cost of capital (WACC) measures the average riskiness of a firm’s assets by calculating the weight of debt and equity to any given situation. In effect, by calculating a weighted average, a firm can estimate the capital discount of debt and equity in dollar terms.

Formula for this is

WACC = Wd x Rd(1-T) + Ws x Rs + Wp x Rp

where:

Wd: the weight of debt (percentage of debt allocated to finance the project)
• Ws: the weight of equity (percentage of equity allocated to finance the project)
• Wp: the weight of preferred stocks (percentage of preferred stocks allocated to finance the project)

So for this case, percentage of equity allocated to finance the project = (total equity allocated/ total amount of financing)*100

the cost of new financing (including the impact of each of 28-year bonds, preferred shares and common shares), assuming that flotation costs would be 5% of the proceeds of the issue

the cost of financing will have effect of floatation cost at 5% will will affect equity.

If net income in the next year is expected to be $8,000,000, what would be the common equity breakpoint for new financing, assuming the current capital structure is considered optimal

Current capital structure is optimal

Breakeven ppoint = Available Retained Earnings = 800000/10 = 80000

Equity Percentage of Total

REFERENCES:

Randall, S. (2007). “FRB Speech: Creating More Effective Consumer Disclosures”.
Preda, A. (2009). “Framing Finance: The Boundaries of Markets and Modern Capitalism.” University of Chicago Press.
Nissim, D. (2002). “Valuation of the Debt Tax Shield”. The Journal of Finance 57 (5): 2045–2073.

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