How To Write Your College Admission Essay

How To Write Your College Admission Essay Learn expert advice on monetary help, software essays, standardized assessments, choosing a major, internships, and much, rather more. The second you opt to seek the providers of knowledgeable to put in writing your faculty essay on-line, it is majorly because of the time issue. You cannot afford to submit a house process previous the deadline to the tutor as a result of there are repercussions. Our writers prioritize every order by working diligently inside the agreed time-frame. What I found so appealing about her character was how unapologetic she was about her oddities. When the other students at Hogwarts made fun of her and called her names she responded with kindness, because she knew in her heart she was brave and smart, and didn’t seek anyone else’s approval. I drew on her strength often during the rough and awkward moments of middle school. At a recent student retreat, everyone in my class was asked to draw a timeline of our lives. There are a lot of ways I could break up my life timeline, from states I lived in to schools I’ve attended, but I could also break it up by my favorite book . I have a very good friend at my high school named Maddie. She is quite possibly the smartest person I know, and she used to constantly critique the way I read. She reads very slowly, often reading three or four books at one time, and even stops halfway through to write about the books she’s reading. So, it’s important for your essay to show off your unique voice and personality. Consider setting a time limit for this part of the process, or a limit for the number of sample essays you will read, and then set the examples aside and move on to creating your own masterpiece. When I readLes Miserablesit changed my entire relationship with reading. The essay is the thing that can set you apart from the crowd. Awaiting your instructions, the staff of essay writers online at is extremely experienced and qualified. Get essay writing help from the very best of the perfect proper right here. In first grade, my mother bought me the first five Junie B. Jones books, and I was hooked. My parents couldn’t figure out why I had suddenly become afraid of the dark until they realized that I was only asking they keep the closet light on so I could stay up all night and read. We’ll deliver your paper on time and forestall any additional delays in submission. My grandfather’s love for art reveals the importance of individualismâ€"a topic very dear to me. Previous to reading the novel, I considered individualism as an act of riot with little to no impact on the development of character. In middle school my two favorite book series were Harry Potter and Percy Jackson and the Olympians. I’ll admit, I was a strange child, and my parents called me spaced cadet because I spent so much time staring off into the air, unknown stories forming behind my eyes. Luna was weird, probably even a little weirder than me. She thought wrackspurts caused distracted thoughts and read the tabloid magazine of the Harry Potter word,The Quibbler. Jessica is a former admissions professional who now shares her insider knowledge to help students and their families as they move through the college admissions process. Do you still need a little extra help with your essay. Below are some books I recommend for your college admission essays. One of the pieces of the college application is the college admission essay. The college admission essay can play a big role in the college admission decision. My father is a first-rate example of an individualist, and, for some brandeis university admission requirements time, I saw him as an outsider who discovered many ways to be vital of his atmosphere. Furthermore, our relationship has all the time been strained. Having learn the novel I’ve discovered to understand individualism as a philosophy. The character of Grasp, a misunderstood author of his time, reflects intimately the value of being unbiased of societal views. Maddie would berate me for bulldozing through books, not paying attention to the themes and nuances, which often forced me to read books twice to fully grasp them. She was shocked that I, a self-professed book lover, had no concept of sub-vocalization. I didn’t even try to hear the words in my head, I just plowed through sentence by sentence, speeding towards the end.

How To Write Your College Admission Essay

How To Write Your College Admission Essay Learn expert advice on monetary help, software essays, standardized assessments, choosing a major, internships, and much, rather more. The second you opt to seek the providers of knowledgeable to put in writing your faculty essay on-line, it is majorly because of the time issue. You cannot afford to submit a house process previous the deadline to the tutor as a result of there are repercussions. Our writers prioritize every order by working diligently inside the agreed time-frame. What I found so appealing about her character was how unapologetic she was about her oddities. When the other students at Hogwarts made fun of her and called her names she responded with kindness, because she knew in her heart she was brave and smart, and didn’t seek anyone else’s approval. I drew on her strength often during the rough and awkward moments of middle school. At a recent student retreat, everyone in my class was asked to draw a timeline of our lives. There are a lot of ways I could break up my life timeline, from states I lived in to schools I’ve attended, but I could also break it up by my favorite book . I have a very good friend at my high school named Maddie. She is quite possibly the smartest person I know, and she used to constantly critique the way I read. She reads very slowly, often reading three or four books at one time, and even stops halfway through to write about the books she’s reading. So, it’s important for your essay to show off your unique voice and personality. Consider setting a time limit for this part of the process, or a limit for the number of sample essays you will read, and then set the examples aside and move on to creating your own masterpiece. When I readLes Miserablesit changed my entire relationship with reading. The essay is the thing that can set you apart from the crowd. Awaiting your instructions, the staff of essay writers online at is extremely experienced and qualified. Get essay writing help from the very best of the perfect proper right here. In first grade, my mother bought me the first five Junie B. Jones books, and I was hooked. My parents couldn’t figure out why I had suddenly become afraid of the dark until they realized that I was only asking they keep the closet light on so I could stay up all night and read. We’ll deliver your paper on time and forestall any additional delays in submission. My grandfather’s love for art reveals the importance of individualismâ€"a topic very dear to me. Previous to reading the novel, I considered individualism as an act of riot with little to no impact on the development of character. In middle school my two favorite book series were Harry Potter and Percy Jackson and the Olympians. I’ll admit, I was a strange child, and my parents called me spaced cadet because I spent so much time staring off into the air, unknown stories forming behind my eyes. Luna was weird, probably even a little weirder than me. She thought wrackspurts caused distracted thoughts and read the tabloid magazine of the Harry Potter word,The Quibbler. Jessica is a former admissions professional who now shares her insider knowledge to help students and their families as they move through the college admissions process. Do you still need a little extra help with your essay. Below are some books I recommend for your college admission essays. One of the pieces of the college application is the college admission essay. The college admission essay can play a big role in the college admission decision. My father is a first-rate example of an individualist, and, for some brandeis university admission requirements time, I saw him as an outsider who discovered many ways to be vital of his atmosphere. Furthermore, our relationship has all the time been strained. Having learn the novel I’ve discovered to understand individualism as a philosophy. The character of Grasp, a misunderstood author of his time, reflects intimately the value of being unbiased of societal views. Maddie would berate me for bulldozing through books, not paying attention to the themes and nuances, which often forced me to read books twice to fully grasp them. She was shocked that I, a self-professed book lover, had no concept of sub-vocalization. I didn’t even try to hear the words in my head, I just plowed through sentence by sentence, speeding towards the end.

Dos And Donts Of Writing A College Admission Essay

Do's And Don'ts Of Writing A College Admission Essay Be precise in your response, and don’t veer off topic or ramble. Try to answer the question in a unique way, displaying your personality and colored by your story. Facing pushback from the school board when you present a well-researched plan to eliminate internet filters in high schools. You speak at three meetings advocating for this issue, but it ultimately doesn’t pass. For example, a student who enjoys watching documentaries could talk about how the films help him have a more multifaceted understanding of the world. This is the level of specificity that you should strive for. For this prompt, you want to discuss the reason behind your intended major and why you want to study that subject at Rice. Instead, consider what excites you about your intended field of study, as well as the specific dimensions of this subject that fit your strengths and ambitions. Most experts say a great essay cannot compensate for an average academic record. But it can play a significant role in shaping perceptions of an applicant and might tip the balance in a borderline case. Impress us with your content and who you are; not your ability to use a thesaurus. Most of our readers would prefer if you wrote, “I hung out with a group of friends” instead of, “we congregated as a conglomerate of like-minded individuals”. I think you may be asking about the Common App, and in that case the short answer about activities is required to submit your application. We don’t consider that a supplement because it is a part of the Common Application. If you have more questions, please feel free to follow up. It's unwise to write about politics or religion, two of the most polarizing topics. But as my mom and the airline industry have proven, out of the many flights from Chicago to New York, there always are a few memorable crashes. You have the opportunity with the first line to pique curiosity and entice the reader to continue with interest. You could start part of the line with a quote, or a description of a memory. Another tact could be to explain how the field in which you want to study is important to you because of some prior experience in your life. If you want to study Criminal Justice, and it’s because of some strong sense of justice from some event in your past, explain that. For college access professionals adapting to the COVID-19 crisis. Incidentally, for those of you obsessives out there who checked Mike's word count and discovered it to be 670 , keep in mind that this was not a Common Application essay. It could have easily performed as a Common App essay, but Mike had other things to say about himself in one of those prompts. A student who enjoys running could discuss how participating in marathons helps her develop discipline and long-term planning skills. Whatever you decide, make sure your response is highly-personal and shares more of your experiences, rather than being a general essay about why you love architecture. You can also take a longitudinal approach by explaining how your passion for architecture unfolded over time. Here, you will find out that those unique niches include everything from heterogeneous cell systems to plasmids in E.coli. Renee Buchanan is communications manager for the Division of Enrollment Management. She has worked for the University of Florida for 22 years as a magazine writer and editor, medical alumni director, academic catalog editor, and designer for print and web. Having my mom cut my hair is like flying on an airplane. Sure, it's risky with potential deadly results, but it gets me where I want to go in a short time. You are permitted to use for your personal, non-commercial use only. You must not copy, download, print, or otherwise distribute the content on our site without the prior written consent of The Ivy Coach, Inc. This can vary depending on the specific application method you are using.

In The Late 20Th Century, The World Was Shaken With The

In the late 20th century, the world was shaken with the news of two major Islamic revolutions. The first one happened at Iran and the second one happened in Afghanistan. As a result Islamic law and religious oppression ruled both of these countries. Although religious fundamentalism played a big role in these revolutions, both of them had very different cultural, political and economic reasons for happening. One would think that with one of the largest oil reserves and the second largest gas field in the world Iran would be one of the most prosperous countries. After all during Reza Shah’s reign from 1941 to 1979 new modern buildings and massive infrastructure projects were being built, the army was a equipped with the latest military†¦show more content†¦Iran’s culture was also rapidly changing. Iran’s historic culture was being replaced with western culture. As one writer put: â€Å"Iranian magazines feature the latest Hollywood films and Broadway play reviews. Urban women become mere consumers of western cosmetics. News of the world is supplied to Iran through the lens of Reuters or UPI press services.† (Hanson) The cultire of Iran and the west conflicted on every front. The education system of Iran also changed overnight. Suddenly, the Iranian schools started to teach western curriculum and neglect Iran’s own culture and issues. The local c ommunity saw all these events as sign of westoxification. For most Iranians, change was happening too fast with no benefit on the majority. As a result of economic and cultural issues opposition to the shah’s regime immediately began after these changes. First, the protesters were mostly consisted of liberals who were particularly strong in the urban landscape. Instead of listening to the problems of the opposition, shah chose oppression as a solution. In order to quell any unrest, a secret police trained by CIA torture experts formed that was called SAVAK. As time passed the notoriety of SAVAK grew, as they were responsible for making many opposition members disappear overnight. Initially the opposition consisted of Liberals, Marxists andShow MoreRelatedPride And Prejudice V Bride And Prejudice Essay1603 Words   |  7 Pagesthe world in the 18th century, imposed the morals and ethics upon the world as they did their own country, where people were expected to abide by. Jane Austen illustrates the values of this prejudiced society through Pride and Prejudice, which involved the role of women as a major, governing over their marriages for economic sustainability and their lack of authority. Austens controversial novel was adapted into a feature film which presented the real and gritty society as how it truly was duringRead MorePride and Prejudice V Bride and Prejudice1600 Words   |  7 Pagesthe world in the 18th century, imposed the morals and ethics upon the world as they did their own country, where people were expected to abide by. Jane Austen illustrates the values of this prejudiced society through Pride and Prejudice, which involved the role of women as a major, governing over their marriages for economic sustainability and their lack of authority. Austens controversial novel was adapted into a feature film which presented the real and gritty society as how it truly was duringRead MoreEssay Modernism versus Modernismo1057 Words   |  5 PagesModernism versus Modernismo Both Modernism and Modernismo were movements around the turn of the 20th century which caused cultural upheaval and renovation in times where the society was, or needed to be, changing. Modernism took place throughout Europe and in the United States, while Modernismo was a Latin American movement. The two movements share several general characteristics, but were, without a doubt, two separate and distinct movements, and should not be confused. Therefore, it is usefulRead MorePutins Aggression in Ukraine854 Words   |  3 PagesHad Obama not turned a blind eye in Syria Could Putin invade Ukraine? While Mr. Putin’s vanguard military apparatus was taking over Crimea, Syria’s self styled hitherto President Bashar Assad was writing a letter of congratulation for Vladimir Putin’s â€Å"wise policy† and his efforts to restore â€Å"security and stability† in Kiev after an â€Å"attempted coup† by â€Å"terrorist extremists.† What is happening in Crimea today mirrors what has happened and unceasingly happening in Syria with multiplied brutalityRead MoreDeclaration Of Independence And Its Effects On Society1597 Words   |  7 Pagestheorists have historically linked society with the State, and usually identify the State with the society it rules, with its people, the territory it covers, or with power. Baruch Spinoza defined power as the domination held over human character. It was his belief that every individual has a natural right, and that this right includes everything the individual desires and is able to achieve. Thus, the n atural right of the individual equals his own power or strength within society. However, it isRead MoreThe Hope Of A Nation1728 Words   |  7 Pageshope of one. Iran is no different, and in the late 20th century, the hope of a better life became an Iranians main goal. During the Iranian Revolution of 1979, the United States opened their arms to a huge increase of immigrating Iranians mainly because of the presence of Iranian students and long standing relationship with Iran. However, everything changed when the hostage crisis of 1980 took place, and the reception that the immigrants once had, was no more. Because of the issue at hand, assimilationRead More Stages of Human Nature Essay2373 Words   |  10 Pagesman thinks, the more tenderly he feels, the more highly he rates himself, the greater the distance grows between him and the other animals- the more he appears as the genius among the animals-the closer he will get to the true nature of the world and to a knowledge of it: this he does in fact do through science. ~Friedrich Nietzsche1 -------------------------------------------------------------------------------- Stages of Human Nature Throughout history, human beings haveRead MoreThe Development of the Rock Musical in the Late 20th Century Essay1821 Words   |  8 PagesThe Development of The Rock Musical In the Late 20th Century Rock opera in its narrow definition seems to be a purely British phenomenon, possibly because at the time of its arrival England, as opposed to the United States, had not found its musical theater voice yet: while musical theater was booming in the United States from the early twentieth century onwards, England didnt develop a popular musical tradition until the late 1960s, when Andrew Lloyd Webber started toRead MoreA Beast, No More : Curing Doubt2549 Words   |  11 Pagesancient Greece during the 6th century BCE. Two key figures contributing to Greek philosophy were Socrates and Aristotle who both developed fundamental ideals: idealism and materialism. Socrates explained through idealist logic that the truth of life is relative to each individual’s ideas and reasoning, while Aristotle believed through materialism that life is based on rationality and motive. Centuries later, these ancient Greek philosophies were revived in 14th century Italy and spread to the restRead More The Relationship Between Sexual Taxonomies and Ideas of the Self1921 Words   |  8 PagesSexuality† (1976), Foucault argues that sexuality is a construct that is affected by social and cultural origins. â€Å"The learned discourse that was pronounced in the nineteenth century was imbued with age-old delusions, but also with systematic blindness’s: a refusal to see and to understand,† (page 55, Michael Foucault, 1976), Foucault explains that homosexuality was never understood or acknowledged in the past due to cultural and social standards. Foucault’s ‘Repressive Hypothesis’ supposes that since

Jugaad Concept - 10018 Words

INDIAN INSTITUTE OF MANAGEMENT CALCUTTA WORKING PAPER SERIES WPS No. 677/ August 2011 JUGAAD- Not just â€Å"Making do† but a Low Cost Survival Coping Strategy at the Bottom of the Pyramids. by Ramendra Singh Assistant Professor, Indian Institute of Management Calcutta, Joka, Kolkata 700104 Vaibhav Gupta B.Tech Student, Department of Applied physics, Delhi Technological University, Delhi, India Akash Mondal B.Tech Student, Department of Metallurgical and Materials Engineering, Indian Institute of Technology, Madras, India JUGAAD- Not just â€Å"Making do† but a Low Cost Survival Coping Strategy at the Bottom of the Pyramids. Prof. Ramendra Singh1*, Vaibhav Gupta2#, Akash Mondal3^ï‚ ª Abstract Till the recent times,†¦show more content†¦This word has also been considered as an alternate meaning for the low level, borderline criminal activity in an informal economy2.In social science, the term refers to bribery. However, in business and management, such practices are evolving as innate, grass root level innovations3 aroused due limited access to capital, resources and infrastructure. Till now, the jugaad was mainly considered as way to get some things done quickly, saving time. Using a small rubber piece to stop water from the ceiling instead of getting it repaired permanently, or traveling on the bus roof instead of waiting of a vacant bus. These are a couple of jugaads that are done on a daily basis just to preserve time. Some unethical methods such as selling of milk mixed with w ater or, getting a seat in a college even if the seats are full, are also the part of jugaad. Considering the overall concept, jugaad can be broadly regarded as a low lost innovation, a coping mechanism a quick fix solution and sometimes an unethical way of getting anything done. Mitra, B.S. (1995) India’s Informal Car, Wall Street Journal, p.10 Krishna A. (2003) What Is Happening to Caste? A View from Some North Indian Villages. The Journal of Asian Studies. 62(4), pp. 1171-1193. Available at: http://www.jstor.org/stable/3591763?orgin=crossr 3 Mitra, B.S. (2006) GrassShow MoreRelatedSikhism : Religion Of Self1442 Words   |  6 Pagesnever dies) Ajooni (He is beyond births and deaths) Saibhang ( He is self illuminated) Gurprasaad (He is realized by the kindness of the True Guru) Jap (Repeat His Name) Aad sach (He is True in the beginning, (before the anything (universe) existed) Jugaad sach (He was True when the ages commenced and has ever been True) Hai bhi sach (He is also True now) Nanak hosi bhi sach. ((Satguru) Nanak (says that) he will be certainly True in the future.) Sikhism stresses that God judges all people as to theirRead MoreBusiness Cvommunication Conclusion11663 Words   |  47 PagesSTUDY GUIDE Principles of Management TRUE/FALSE 1. The nature of management is to control and dictate others in an organization. ANS: F PTS: 1 DIF: 2 REF: 6 NAT: AACSB: Analytic | AACSB: Motivation Concepts MSC: F 2. In today’s turbulent and hypercompetitive global environment, managers must help their companies innovate more than ever. ANS: T PTS: 1 DIF: 2 REF: 8 NAT: AACSB: Analytic | AACSB: Creation of Value MSC: F 3. The late famed management theoristRead MoreI Love Reading Essay69689 Words   |  279 PagesIndia occurs in ‘far more encompassing and far reaching ways than in developed countries’, and could therefore be far more complex, ‘for there is so much more that needs to be done’.14 Commentators today celebrate the ubiquitous Indian attitude of ‘Jugaad’ (a Hindi word roughly translated as ‘creative improvisation†¦a tool to somehow ï ¬ nd a solution based on a refusal to accept defeat, and calling on initiative, quick thinking, cunning and resolve†¦to quickly fulï ¬ ll market demands at the lowest possible

The White Mans Religion a Savage Hypocrisy Essay - 897 Words

When people choose to follow a religion they agree to practice the tenets and standards put forth by that religion. If a person is a practicing Christian they would need to follow the teachings of love and kindness that are given forth by Jesus Christ. Frederick Douglass in his work, Narrative of the Life of Frederick Douglass, an American Slave, Written by Himself, and William Apess in his work, An Indians Looking-Glass for the White Man both disagree with the form of Christianity practiced and preached by their white oppressors. Although Douglass and Apess are from different cultural backgrounds, both mens works share the theme of the white mans perversion of the Christian religion. In his work, Frederick Douglass speaks of†¦show more content†¦Auld. When this man found religion, Douglass was sure that he would, at the very least, become more kind and humane towards those kept in his service (2063). But the actual change upon his religious awakening was that he became more cruel and hateful in all his ways (2063). Before he found religion, Mr. Auld had no justification for his treatment of his slaves. He was cruel to them because of his own depravity (Douglass 2063). Mr. Auld tried and failed to intimidate the mannerisms of a successful slave owner and didnt know how to regain control. After his enlightenment he had religious sanctions for his cruel actions, which absolved him from any feelings of guilt towards the cruel treatment of another man. This religious justification is illustrated in the incident that occurs with the lame slave girl. Mr. Auld would tie up this girl, who had been disfigured by a fire, and beat her until her blood would f low. He backed up this action by quoting Luke 12.47: He that knoweth his masters will, and doeth it not, shall be beaten with many stripes (Douglass 2064). If one was to read the entire passage of scripture this quote came from, they would see the misuse of this justification. This verse is telling man that if he knows the will of God and chooses not to follow it, he will be punished for his actions. It is not saying that slavery and the mistreatment of slaves is acceptable in the eyes of the Lord. For men like Auld, religion is justShow MoreRelatedThe Declaration Of Independence, All Men Are Created Equal1442 Words   |  6 Pagesconcept does not contribute to Fredrick Douglass and Red Jacket, who represent two different cultures with a similar dilemma. Both argue the hypocrisy of the document, that only applies to a certain population of the United States of America. In addition, Douglass and Red Jacket are defending their beliefs among the injustices that they have came across with the â€Å"whites†. Even though Red Jacket is speaking up among the betrayal of the Europeans, referring to the day of the Europeans arrival to their landRead MoreThe Adventures Of Huckleberry Finn By Mark Twain2409 Words   |  10 Pagestime when society was full of racism and hypocrisy. Even after the abolition of slavery in 1865, America—the South, especially—was still trying to make sense of the changes that were happening in society. The Reconstruction of the South showe d society that these changes weren’t easy, but it more importantly revealed a system of belief with two parts. These systems, both contradictory and separate, divided society into two different groups: the so-called â€Å"savages† and the so-called â€Å"civilized† (Van denRead MoreThe Enlightenment : The Impact Of The Enlightenment In America744 Words   |  3 Pagesinternational expansion. Manifest Destiny was created with the belief in white racial superiority and a sense of American cultural advantage, and this also shaped their politics. The superior moral values and ethics were associated with American ideals. As a United States Citizen, it was your duty to expand the American way of life to other areas of the world as they felt the uncivilized world would benefit from their culture, religion, and customs. North America was viewed as a treasure as it had goldRead More Analysis of White Over Black: American Attitudes Toward the Negro by Winthrop D. Jordan 1194 Words   |  5 PagesAnalysis of White Over Black: American Attitudes Toward the Negro by Winthrop D. Jordan Winthrop D. Jordan author of White Over Black: American Attitudes Toward the Negro 1550-1812, expresses two main arguments in explaining why Slavery became an institution. He also focuses attention on the initial discovery of Africans by English. How theories on why Africans had darker complexions and on the peculiarly savage behavior they exhibited. Through out the first two chapters Jordan supports his opinionsRead MoreThe Struggle Of The Former Slave Equiano1992 Words   |  8 Pagespractice a religion or claim to have some sort of moral standards and beliefs when yourself behavior contradicts your religion. There are numerous religions with many roles, some have similarities and many have their differences. What really matters is remaining loyal and devoted to your religion, by not using religion as a source for power and wealth; follow by the cruelty, mistreatment and injustice actions to other human. In this essay ill will analyze and demonstrate in how work exposes hypocrisy inRead MoreFrederick Douglass’ Outright and Subtle Irony1219 Words   |  5 Pagesdiscredit his oppressors, he had to distinguish himself from their propaganda about slaves. Frederick Douglass uses many forms of irony. His most powerful forms of irony are subtle, not always outright; this was in order to criticize the racism and white culture of the time without causing too much conflict. Frederick Douglass had a lot of criticism. He had to appeal to the various political, sociological, and aesthetic interests of an entire civilization of critics. He used irony as a way to getRead MoreNarrative of the Life of Frederick Douglass1401 Words   |  6 Pageshypocritical, inhumane man who uses his religion in order to remain blind to the sins he commits through slavery. Douglass states, â€Å" I indulged a faint hope that his conversion would lead him to emancipate his slaves, and that, if he did not do this, it would, at any rate, make him more kind and humane†¦but after his conversion, he found religious sanction and support for his slaveholding cruelty† (97). Auld uses his newfound religion as a reason to be even crueler to Douglass. Religion is supposed to changeRead MoreOroonoko1235 Words   |  5 Pagesbe purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take, but as for me, give me liberty, or give me death Patrick Henry. Throughout the years, man insisted on inflecting injustice and oppression on the vulnerable and weak. The desire of man to dominate and control is continuous. In this novel the author illustrates a side of the injustice inflected on the world. Oroonoko is a short novel written by English author Aphra Behn. Aphra Behn sRead MoreMy Bondage And My Freedom And Frederick Douglass Analysis1701 Words   |  7 Pagesof his own life in order to exemplify the African race as genuine and compassionate in contrast to uneducated and superstitious therefore justifying their freedom through elucidating African beliefs. In contrasting each account of Sandy Jenkins, the man who gave Douglass the root, one can see a definite difference in the descriptive phrases used to characterize Sandy. For example, in Douglass’ narrative he describes his encounter with Jenkins as rather usual, â€Å"I fell in with Sandy Jenkins, a slaveRead MoreNarrative of the Life of Olaudah Equiano Essay1497 Words   |  6 Pages History shows that both Africans and African Americans alike faced unique problems prior to and during the 1800s, particularly prior to 1865. One such problem is the issue of Diaspora and how culture and slavery has affected the choice of religion. It is the purpose of this paper to expose comparatively the extent to which individuals have been influenced by these issues. One such individual is Olaudah Equiano. By following and analyzing some of the key moments of faith in his life, this

Financial analysis of coles ltd - Free Essay Example

Sample details Pages: 10 Words: 2857 Downloads: 2 Date added: 2017/06/26 Category Statistics Essay Did you like this example? 1. INTRODUCTION 1.1 Purpose In this report my purpose is to do a financial analysis of Coles Ltd which provides a basis, on which the valuation of company can be done. 1.2 Scope This report conducts a financial analysis for Coles by performing a trend analysis of financial ratios using the data given for past 5 years. It also includes a cash flow analysis which along with financial ratios helps compare coles with its industry counterparts, Woolworths and Metcash; and finally this analysis would help in price valuation to calculate a fair price for coles share. Don’t waste time! Our writers will create an original "Financial analysis of coles ltd" essay for you Create order 1.3 Methodology This report is based on primary data available from Coles website as well as secondary data such as research paper, electronic database and other publications. 1.4 Limitation Although all efforts have been made to use as much available information as possible but there were some constricting factors such as lack of available data of past financial information which restricted this research. Reliability of data and time constraints were also hurdle in performing this analysis. The biggest shortcoming was that current data was based on AIFR and data for years before 2005 was based on AGAAP, which made comparative trend analysis very difficult. 2. FINANCIAL ANALYSIS In this we will be evaluating the firms financial ratios and cash flow measures of the operating, financing, and investing performance of a company in relation to key competitors historical performance. Given the firms strategy and goals, together these tools allow the analyst to investigate and examine a firms performance and its financial condition. Ratio analysis is the tool which involves assessing the firms income statement and balance sheet data. On the other side, the cash flow analysis relies on firms cash flow statement. 2.1 Ratio analysis The ratio analysis deals with evaluation of the performance of Coles in perspective of its mentioned strategies and goals. In order to achieve this objective a combination of cross sectional analysis and time series analysis is performed. Workings of Ratios for 2006 are mentioned in APPENDIX 4. 2.1.1 Profitability analysis If we look at the return on equity (ROE) of Coles, for a period of 5 years, it is being observed that ROE has increased in 2006 as compared to 2002. Although ROE has fallen in 2006 (15. 30%) as compared to 2005 (18.30 %) but it can be seen that on an average Coles ROE has been stable or increased over last 5 years. Return on asset (ROA) has also been stable around 10% during the last 3 years and increasing from 7.17% in 2002 to 9.54% in 2006.The main reason for stable ROE and ROA are better performance delivered by the management and as well as the mature characteristic of the industry, that produces stable return as well as stable growth seeing population demographics in the country. Table 1 Profitability Ratio of Coles Ltd 2006 2005 2004 2003 2002 ROE 15.30% 18.30% 15.69% 12.13% 10.80% ROA 9.54% 11.57% 10.83% 8.42% 7.17% Gross Profit Margin 23.53% 23.36% 25.44% 27.38% 24.40% Net Profit Margin 1.57% 2.08% 1.91% 1.59% 1.38% Financial Leverage 2.54 2.70 2.21 2.23 2.51 Source: Coles financial statement after adjustment Gross profit has been quite stable and good for the last 5 years but the concerned part is the net profit margin. Net profit margin has been very low, it had been increasing from 2002 to 2005 but it again fell in 2002 to 1.57% from 2.08%. Coles need to reduce its operating and interest expenses so as to increase its net profit margin. Table 2 Profitability Ratio Comparison within the industry in 2006 Coles ltd Woolworths Metcash ROE 15.30% 33.80% 7.80% ROA 9.54% 15.57% 1.69% Net Profit Margin 1.57% 2.69% 0.98% Financial leverage 2.54 3.08 3.07 On comparing the performance of Coles with its industry counterparts we can conclude that Coles Ltd is way behind its major competitor, Woolworths, in terms of ROE and ROA which might be attributable to lower net profit margin and lower financial leverage. Coles has higher financial leverage as compared to Woolworths and metcash, which means it, has greater financial risk. But despite of high leverage it has low ROE which confirms the fact that Coles has low net profit margin asset turnover ratio. 2.1.2 Activity Analysis A firms operating activities require investments in both short-term (inventory and accounts receivable) and long term assets. Activity ratios describe the relationship between the firms level of operations and assets needed to sustain operating activities. Asset turnover is important in determining firms ROA; it also formulates reasons of how it will affect firms ROE. Evaluating the effectiveness of asset management is the purpose of asset turnover analysis. 2.1.2.1 Short term activity ratios Working capital is our main concern while evaluating a company. It can clearly be observed that since Coles has high turnover ratios it uses cash basis in its sales. It can be clearly being seen that it took only 4.48 days on an average for Coles to convert its inventory investment back in to cash. From the figures last 5 years we can clearly interpret that Coles has drastically improved its cash conversion cycle from 23 days in 2002 to 4.48 days in 2006. Table 3 Short-term Activity Ratios for Coles Ltd 2006 2005 2004 2003 2002 Inventory Turnover 8.56 8.04 8.20 6.95 6.80 Avg. No. Days Inv. in Stock (A) 42.65 45.39 44.52 52.52 53.69 Receivables Turnover 72.18 54.86 65.01 43.82 32.27 Avg. No. Days Rec. O/S (B) 5.06 6.65 5.61 8.33 11.31 Payable Turnover 8.44 8.75 9.17 8.28 8.72 Avg. No. Days Pay. O/S ( C) 43.22 41.70 39.82 44.10 41.88 Cash Conversion Cycle (A+B-C) 4.48 10.35 10.32 16.75 23.12 Table 4 Short-term activity ratio comparison, 2006 Coles ltd Woolworths Metcash Inventory Turnover 8.56 13.2 16.09 Avg. No. Days Inv. In Stock (A) 42.65 27.65 22.68 Receivables Turnover 72.18 42.24 10.9 Avg. No. Days Rec. O/S (B) 5.06 8.64 33.48 Payable Turnover 8.44 11.18 7.54 Avg. No. Days Pay. O/S ( C) 43.22 32.64 48.23 Cash Conversion Cycle (A+B_C) 4.48 3.65 7.93 Now, if we compare Coles with its competitors we can see that Woolworths has lower cash conversion cycle and metcash has higher cash conversion cycle. Woolworths has lower cash conversion cycle because it keeps inventory in stock for shorter duration and stock is converted in to good sold in less span of time. On the other hand Metcash keeps inventory in stock for lower no. of days but it provides more no. of days to its receivables for payment due to which it has higher cash conversion cycle. Seeing the industry it can be concluded that Coles has good cash conversion cycle but it can improve on it by reducing the Average number of days for which inventory is in stock. 2.1.2.2 Long term activity ratios In the analysis of long term activity ratios, long-term asset turnover and property, plant and equipment turnover have been utilized. Table 5 Long term activity ratios for Coles Ltd 2006 2005 2004 2003 2002 Total Asset Turnover Ratio 372.70% 361.62% 369.45% 323.18% 310.12% PPE Turnover Ratio 1033.42% 959.34% 958.00% 799.00% 746.09% On the whole both ratios moved in the same pattern during these periods. Relatively, this pattern shows that asset utilization has improved uniformly for the period ranging from 2002 (310.12%) to 2006(372.70%). This helps to conclude that company is continuously improving its utilization of assets to increase its production. Table 6 Long term activity ratios comparison, 2006 Coles ltd Woolworths Metcash Total Asset Turnover Ratio 372.70% 341.11% 343.81% PPE Turnover Ratio 1033.42% 993.24% 7359.85% While comparing to its competitors it can be seen that Coles total asset turnover ratio is approximately 30% higher than its competitors. It helps to analyze that Coles is more efficiently utilizing its resources to increase its production as compared to its competitors. Metcashs high PPE turnover ratio can be contributed to the fact that PPE forms a very small part of Metcashs total assets. If compare Coles with its major competitor Woolworth on PPE Turnover Ratio we can conclude that Coles has been utilizing its fixed asset better than Woolworths. 2.1.3 Liquidity Analysis Liquidity is referred to a firms ability to have sufficient funds when needed and convert its non-cash assets in to cash easily. Liquidity Ratios are employed to determine the firms ability to pay its short-term liabilities. Liquidity analysis enables us to determine Coles ability to cover its liquidity risk. Liquidity risk may arise due to shortfall or over liquidity within the firm and this in turn lead to firms disability of fulfilling its liquidity needs. In order to determine firm liquidity level, Current ratio, quick ratio and cash ratio are short- term liquidity ratios which have been employed. Table 7 Coles Short-term Liquidity Ratios 2006 2005 2004 2003 2002 Current ratio 0.98 1.07 1.20 1.35 1.37 Quick ratio 0.26 0.25 0.40 0.42 0.42 Cash ratio 0.16 0.11 0.23 0.31 0.11 On doing the trend analysis for last 5 years it can be observed that Coles current ratio has been consistently falling, which increases the possibility that Coles will not be able to meet up its short term liabilities. Current ratio has fallen from 1.37 in 2002 to 0.98 in 2006 which is of major concern, as a current ratio of less than 1 means that company has negative working capital and is probably facing a liquidity crisis. The more stringent measure of liquidity is quick ratio and cash ratio which have also been falling uniformly in last 5 years. It seems Coles is falling in to liquidity crunch and might need short term funds to meet its current liabilities. There has been lot of volatility in the cash ratio of the firm as they have been rising and again falling, so we can conclude that Coles is not able to maintain stable liquidity. Table 8 Short term liquidity ratios comparisons, 2006 Coles ltd Woolworths Metcash Current ratio 0.98 0.84 1.41 Quick ratio 0.26 0.37 0.99 Cash ratio 0.16 0.13 0.32 As compared to its competitors Coles has better current ratio than Woolworths but has current ratio less than Metcash. Comparing Coles with its major competitor in retail sector, Woolworth, we can clearly see Coles has better current cash ratio but is behind on quick ratio. On comparing with metcash we see that Coles is behind on all the short term liquidity ratios by a very high margin. Metcash has twice the cash ratio as compared to Coles, which makes Coles ability to meet its short term liabilities questionable. 2.1.4 Long term Debt and solvency Analysis The analysis of a firms capital structure is essential to evaluate its long term risk and return prospects. The long term debt and solvency ratios which we are going to use here are debt to equity, debt to capital and interest coverage ratio. Table 9 Coles long term Debt and Solvency ratios 2006 2005 2004 2003 2002 Debt to Equity 1.54 1.70 1.21 1.23 1.51 Debt to Capital 0.61 0.63 0.55 0.55 0.60 Interest Coverage Ratio 7.07 12.54 13.30 8.10 5.77 As indicated by Coles debt and long term solvency ratios, it denotes that firm is not a solvent company and relies heavily on debt financing. The firms debt to equity and debt to capital ratios are consistently above 1.00 which shows that Coles employed more debt than equity as its source of financing. Debt to total capital has also been consistently been around 0.55-0.60 during the 5 year period. This shows that firm has been stable with its financing policy and has not done much change with its debt and equity mix. Since it relies so heavily on debt financing, issues can be raised regarding its ability to pay off the interest arising due to long term debt financing but we see that company has EBIT 7 times more than the interest charges it has to pay, so that should concern much. It can be observed interest coverage ratio has declined in 2006, as compared to 2005 2004, but it is still able to meet industry benchmarks. Table 10 Debt and Solvency ratios Comparison 2006 Coles ltd Woolworths Metcash Debt to Equity 1.54 2.13 2.01 Debt to Capital 0.61 0.68 0.67 Interest Coverage Ratio 7.07 8.5 3.95 Compared to its competitors, long term solvency ratios of Coles seem to be performing optimally. Woolworths has got the highest debt to equity, debt to capital interest coverage ratio. Historically a debt to equity ratio of 2:1 is considered optimal so Coles can still rely on debt to finance its future undertaking rather then issuing new shares. It can be observed that Coles has interest coverage ratio greater than Metcash but less than Woolworths but that can be attributable to its low profit margin as compared to Woolworths. It seems Coles is at par with its competitors in terms of debt and solvency ratios. 2.2 Cash Flow Analysis Cash flow analysis is essential to understand that whether the firms cash flow have the ability to sustain the business, to meet unexpected obligations and to meet its short term liabilities. This also helps to understand whether firm will be requiring additional financing and firm can take advantage of new business opportunities as they arise. In cash flow analysis we will evaluate 3 ratios; Operating cash flow to current liabilities, Interest coverage (cash flow basis) operating cash flow to dividend payment. Methodology for calculation of cash flow ratios is shown in APPENDIX 5 Table 11 Cash flow ratios for Coles Ltd 2006 2005 2004 2003 2002 Op. cash flow to current liabilities 32.82% 29.20% 35.20% 38.74% 38.20% Interest coverage(cash flow basis) 10.50 13.74 18.82 13.56 10.86 Op. cash flow to dividend payment 2.87 2.67 4.35 4.10 3.92 Based on the table above, we can say that Coles has the ability to service its debts which can be seen in firms interest coverage ratio from cash flow basis. Moreover, we observe that Op. cash flow to dividend payment has fallen over the time span from 2002 to 2006 which could be an area of concern. Operating cash flow to current liabilities has also fallen a bit, which means it can be a problem for the firm if certain unexpected obligation come up due to which it might require additional financing. Table 12 Cash flow ratios Comparison, 2006 Coles ltd Woolworths Metcash Op. cash flow to current liabilities 32.82% 34.98% 18.90% Interest coverage(cash flow basis) 10.5 8.45 5.36 Op. cash flow to dividend payment 2.87 4.93 8.75 If we compare Coles to its competitors in the industry which it operates we observe that Coles has got better interest coverage ratio (cash flow basis) as compared to Woolworths Metcash which means that Coles has better ability to service its debts than its counterparts. Coles also has a shortcoming in operating cash flow to dividend payment ratio, as it can be seen it has the lowest operating cash flow to dividend payment ratio. It can be attributable to the fact that it pays more dividends than it should pay. So it can be concluded that Coles needs to reduce dividend payment as it might lead Coles in to financial difficulties if some unexpected obligations turn up. In terms of operating cash flow to current liabilities we see that although it has fallen substantially for Coles in last 5 years but it is at par with its biggest competitor Woolworths greater than Metcash. 3. Prospective analysis Prospective analysis enables us to determine future performance of the firm based on historical performance of the company. Here will be determining the mean return for sales and earning before interest taxes (EBIT) . Using those mean returns we will be making a sales forecast and EBIT forecast. 3.1 Sales and EBIT forecast In determining the sales growth, I have considered the following assumptions- Past trend of sales is going to continue in the following years. Firm is not going to bring a major change in its pricing policy. The foundation for sales EBIT growth is historical sales EBIT growth and I have used mean reverting model to determine the future sales growth, in which future sales EBIT growth will be mean return of last 4 years sales growth. I have not taken the 5 year sales EBIT growth because EBIT growth rate is to high in 2002 (73%) which could adversely effect the mean return considering present situation of Coles. Table 13 Sales EBIT Growth Rate for Coles Ltd 2006 2005 2004 2003 Mean Sales growth 3.62% 2.33% 19.43% 5.17% 7.64% EBIT growth -17.07% 11.68% 34.31% 18.56% 11.87% Using the mean reverting model we are able to find out a growth rate of sales for 7.64% EBIT growth rate of 11.87%. Using these growth rates we will be able to make a sales forecast EBIT forecast. This forecast will help in proper valuation of Coles on the basis of its predicted future performance. Figure 1 Line chart for sales EBIT growth Table 14 Sales EBIT Forecast for Coles LTD 2006 2007 2008 2009 2010 Sales Forecast 34212 36825.8 39639.29 42667.73 45927.54 EBIT Forecast 875.9 979.8693 1096.18 1226.296 1371.858 Using the growth rates we can forecast the sales and EBIT for Coles which helps an analyst in a fair valuation of the company. The main reason we use the sales growth as a base for forecasting, is that the majority of firm income is derived from its supermarket business. This forecast suffers from one serious shortcoming that EBIT growth has fallen from 34.31% in 2004 to 11.16% in 2005 and then to -17.07% in 2006 but we are still predicting a growth in EBIT of 11.87% in 2007 and thereafter. 4. Conclusion I have gone through the multi-step process of ratio analysis, cash flow analysis and prospective analysis to present a report on financial analysis of Coles ltd. During the process, I have identified that Coles is operating in a mature industry with small profit margins. I have performed ratio analysis, cash flow analysis prospective analysis which would help a great deal in valuation of Coles based on its current market situation. During the Ratio analysis I was able to conclude that Coles has got good activity liquidity ratios but the major area of concern is profitability ratios. Coles needs to improve its net profitability so as survive in this competitive environment. Cash flow analysis helped us to depict that Coles has cash flow ratios at par with its competitor, Woolworths, but Coles need to reduce its dividend payout as it is too high as compared to industry counterparts. By doing a prospective analysis I am able to forecast the future sales EBIT for Coles for next 4 years. Growth rate for forecast has been calculated using the mean return for past 4 years. This helps us to understand future growth of the company. I would like to conclude by saying that although Coles is competing in a low profit margin industry but it is the 2nd biggest company in the retail industry, therefore if it brings about certain petite changes in its financing and operating activities it can add a great deal to its shareholders value.