Analysis Of Annual Report Of Bendigo And Adelaide Bank For Fy 2016

The title of the report is the analysis of the annual report of the company – Bendigo and Adelaide Bank. The annual report of the company consists of the financial statements of the company and the director’s report and the independent auditor’s report. The financial statements of the company tells about the financial performance of the company that it has gained during the reporting period and the financial position of the company that it has maintained at the end of the reporting period. Both the aspects go and work simultaneously and will inform about the working and functions of the company. The main aim of this report is to analyze the annual report of the company with respect to certain issues like assets and debts which will equip the users of the financial statements of the company including the stakeholders of the company about the working details of the company and to assess whether the company is working as desired by its stakeholders. With this consideration and the aim the report has been bifurcated into different section starting from the historical background of the company. After that the financial position of the company has been analysed by considering the balance sheet at the end of the reporting period. Thereafter the financial performance of the company has been analysed by considering the statement of profit and loss for the given reporting period. At the end the report has been ended by citing the conclusion stating the overall findings and the recommendation stating whether the stakeholders shall invest in this company. The company has its history started in the long back in late years of 1850’s. The company has been incorporated in the year of 1858 as Bendigo Mutual Permanent Land and Building Society to help the people who are migrating from Victoria to give them the better living and the better working conditions. After twenty years of the society formation, in the year of 1877 another society was formed namely Hind marsh Building Society which has only one aim of providing home to everyone who is in Australia. With this aim the society so created has gained the importance from many people. With the passage of the time, the society goes on growing and keeps on merging and acquiring the other societies and in the year 1982, Bendigo Building society has come up as the first financial institution which has introduced both visa and credit cards. In the year of 1993, Bendigo building society acquires the company namely National Mortgage Market Corporation Limited which is engaged in the busines s of mortgage and providing the introducers for the loans and acting as the brokers for arranging the loans. In the years of late 1990’s the company with the development in the field of banking has converted its name from the bendigo building society to Bendigo Bank (Intelligent Investor, 2017).   Bendigo bank opened its first branch office in Victoria and then has focused on the infrastructure projects of the country including the agricultural related business. The company has also been known as the company which has brought the account for offsetting the mortgage. This product has now standardized in the country of Australia. With this expansion and the growth in the business sector, the company in the year of 2007 has rejected the proposal from the Bank of Queensland for having the merger and merged with the well known bank namely Adelaide Bank. Soon after merging with the bank, the company with the approval of the members and shareholders of the company, the company has changed its name from Bendigo Bank to Bendigo and Adelaide Bank (Company Official Website, 2016). With this merger, the existence of the Bendigo and Adelaide bank has come and is now regarded as the fifth largest retail bank in the Australia employing more than 70000 employees across its all branches and serving millions of the customers across Australia for achieving their financial goals.   Ã‚  Ã‚   The financial position of any company is analyzed by critically evaluating the balance sheet of the company. The balance sheet of the company is prepared on the particular date therefore the financial position of the company has been analysed as on 30 th June 2016 (Company Official Website, 2016). There are also other issues like financial assets held for sale, trading and maturity, met loans and other receivable and the investment made in property plant and equipment and also the risk factors that have been mentioned separately in the annual report.   Ã‚  Ã‚  Ã‚  Ã‚   The financial performance of the company is analysed from the statement of income for the financial year ending 30 th of June 2016. Following issues have been identified (Company Official Website, 2016): Thus, apart from the above issues there other financial performance issues like Net Profit and the income tax expense, etc.  Ã‚  Ã‚   The banking industry plays very important role in not only the development of the country but also the development of the individuals by keeping their money safe and providing the interest on their funds and more importantly funding the company which requires for the development of any project which may be infrastructural or financial like agricultural related project or dam building project. Thus, in this way, the banking industry plays very important role in the development. The report has laid down how Bendigo and Adelaide bank has been formed and how the same have grown over the past 158 years at the increasing rate and still have the position of having more developments in the future. The report has analyzed the financial position and performance of the company and thus it is concluded that the report has raised the financial issues with regard to its recognition and presentation in the financial statements. It is recommended that the shareholders should invest and the stakeholder’s shall take interest in the company and shall make their decisions accordingly. Company Official Website, (2016), â€Å"Annual Report 2016†, available on https://www.bendigoadelaide.com.au   accessed on 23/05/2017. Intelligent Investor, (2017), â€Å"Bendigo and Adelaide Bank (BEN)†, available on https://www.intelligentinvestor.com.au/company/Bendigo-and-Adelaide-Bank-Limited-BEN-249121   accessed on 23/05/2017. accounting

Research the principles of insulin production via genetic engineering Essay

Research the principles of insulin production via genetic engineering - Essay Example Today, however, insulin is commercially produced through genetic engineering, a process that makes available to diabetic patients worldwide massive quantities of the hormone without difficulty. Despite its evident usefulness, genetic engineering remains continuously haunted by ethical issues and considerations. II Homeostasis of Blood Sugar Level The human body maintains a consistent internal environment and one of the factors subject to this homeostasis is blood sugar, or glucose, level. At normal level, blood sugar in the body must be within 80 mg for every 100 cm3 blood. In the event that blood sugar falls below or rises above that level spurs the body mechanism to make corrective measures, a process called negative feedback, so as to restitute glucose to homeostatic level (Givens and Reiss 2002, p. 56). The homeostasis of glucose primarily involves the organs of pancreas and liver. As blood sugar level rises, such as after a high carbohydrate meal, the pancreas secretes insulin t o correct that level. Insulin is a hormone whose presence in the bloodstream indicates to the liver to start converting glucose into glycogen and store it. The amount of insulin in the bloodstream indicates the amount of glucose to be converted and stored. ... 56-57). III Diabetes Mellitus Diabetes mellitus (DM hereafter), the most common type of diabetes, is a disease caused by a metabolism disorder related to insulin function. Diabetes mellitus is defined by the World Health Organisation in 1980 as â€Å"a state of chronic hyperglycemia which may result from many environmental and genetic factors often acting jointly† (Ekoe 2008, pp. 5-6). There are four types of diabetes mellitus: type 1, which is insulin-dependent (IDDM); type 2, which is non-insulin dependent (NIDDM); diabetes secondary to other diseases, and; gestational diabetes, all of which have the common factor of hyperglycemia or high blood glucose. IDDM account for 5% to 10% of diabetes cases and NIDDM for 90% to 95%; the last two types account for remaining insignificant cases (Poretsky 2010, pp. 108, 116). Aside from hyperglycemia, the clinical symptoms of the disease usually include polyuria or the tendency for frequent passing of urine, polydipsia or excessive thirs t, polyphagia or excessive desire to eat, weight loss despite polyphagia, glycosuria or presence of glucose in the urine, ketoacidosis, visual changes, skin infections, sepsis and pruritus. However, except for hypoglycemia, not all patients suffer from all or the same symptoms and not all persons who suffer from any of such symptoms are necessarily afflicted with diabetes (Ekoe 2008, pp. 5-6). DM is widely thought to be caused by genetic factors, although the mechanism has not been exactly pinpointed. The etiological explanation, however, of the disease is autoimmunity in which ?-cells producing insulin are being destroyed resulting in insulin deficiency. The consequence is homeostatic failure of blood sugar level. Aside from genetic predisposition, infection and environmental

LAW Essay Example | Topics and Well Written Essays - 1500 words - 1

LAW - Essay Example In fact, the exclusionary rule was found to be necessary to protect the rights guaranteed to Citizens under Fourth Amendment. The exclusionary rule is a legal principle holding that evidence/ witness collected or analyzed which is against U.S. Constitution is inadmissible for a criminal prosecution in a court of law . It aims at preventing misconduct on the part of police. Before the precedent was set in Weeks v. United States, 232 U.S. 383 (1914), courts used to admit all evidences irrespective of their relevance / legality. Until the decision in Mapp V.Ohio (367 U.S. 643 (1961) ,the rule was applicable at the Federal level only. After this case, the exclusionary rule was also held to be binding on the states through the Fourteenth Amendment, which guarantees due process. The Exclusionary Rule applies to all citizens or aliens who reside within the United States. It does not applicable to aliens residing outside of U.S. borders. In United States v. Alvarez ,the U.S. Supreme Court decided that property owned by aliens in a foreign country is admissible in court. Prisoners, probationers, parolees, and persons crossing U.S. borders. Corporations, have limited rights under Fourth Amendment. in 1984. If evidence is collected through independent source and disqualified and later the same evidence was collected through warrant ,that is admissible. The independent source exception allows evidence to be admitted in court if knowledge of the evidence is gained from a separate, or independent, source that is completely legal. This rule was accepted in People v. Arnau. 2. Inevitable discovery doctrine: This matter was discussed in Nix vs. Williams, in 1984. This doctrine states that if evidence is seized in two ways and if one of the evidences is seized physically through illegal means, and there was also a hypothetical evidence of seizure, that hypothetical evidence can be admitted. The doctrine

Faith Essay Example | Topics and Well Written Essays - 250 words - 2

Faith - Essay Example I have approaches few people that have products, discussed my plans with them, and I would be an agent and offer strategy and agreement between the product owners and the people that I direct to the websites. Commercial transactions would then follow and commission would be my income. Identifying and convincing product owners into the idea have been a challenge but I believe the idea will be successful because God has assured us of success. God’s words to Israelites that the Lord â€Å"gives you the ability to produce wealth† (Deuteronomy 8:18, p. 1) and that â€Å"thou mayest prosper and be in health† (3 John 1:12, p. 1) are the scriptures on which I stand. Failure to find product owners who liked my ideas and wanted to work with it and the fact that I have not yet implemented the ideas challenges my faith in God’s words and power but the scriptures strengthens me. I therefore believe that I shall overcome and attain my financial

Master slave relationships in Shakespeares The Tempest Essay

Master slave relationships in Shakespeares The Tempest - Essay Example (I, ii, 519-520). The word ‘slave’ is repeatedly used in the text to refer to Caliban which throws light on the European attitudes towards the people they conquered through imperialism. Similarly, Prospero calls Caliban â€Å"beast† (IV, i, 140), â€Å"devil† (IV, i, 188) and other derogatory terms to refer to his savagery and uncivilised ways. Even though Prospero claims to have imposed penalties on Caliban for violating the honour of his daughter (I, ii, 347-48) one really tends to doubt whether Caliban really deserves all those punishments inflicted on him. Tiffany, in this respect, purports that Caliban’s attempted rape on Miranda â€Å"stemmed from untaught natural impulse than from considered evil.† However, Caliban is destined to suffer from the wrath of his master. However, Caliban is not always submissive or servile. He reacts and yearns for his freedom and rights like a true colonist. His poems display both imaginative and intellectu al capabilities. He is bold enough to state that the island was presented to him by his mother: â€Å"This island’s mine by Sycorax my mother† (I, ii, 331) and thus he expresses his rightful claim to own the island. In the same way, Caliban’s intense longing to take revenge on his master is also evident in the play when he joins with Stephano and Trinculo to plot against Prospero. His revengeful attitude also made clear when he regrets of not being able to molest Miranda. He believes that if he had succeeded in his rape attempt he could have â€Å"peopled..../This isle with Calibans† (I, ii, 350-51) and taken the power back from Prospero’s hands. Thus, Caliban’s character displays feelings of... This paper illustrates that one can find Prospero’s magical powers being highlighted in The Tempest whereas his oppressive nature is depicted as subtle. However, deconstructive critics hold that â€Å"each term in the opposition depends on the other for meaning† and as such it is clear that Prospero masterly position in the play is directly related to Caliban’s servile or beastly existence. A deconstructive understanding of the text shows The Tempest is not merely a story of an island inhabitant and his master; on the other hand, the text aims at breaking the legacy of colonialism or imperialism that underpinned Britain’s history of slavery and empire. It can thus be seen that The Tempest deals with the themes of power and control within a master slave relationship between Prospero and Caliban. Caliban remains a servant to many masters varying from his mother Sycorax, the original colonizer to Stephano whom he takes as his own master to challenge Prospero. One can clearly notice that a number of characters in the play compete for the colonial control of the island and each one has specific colonial ambitions for the island. Even though Prospero succeeds in retaining the control of the island against all conspiracies his rule and the way he treats Caliban who is the rightful owner of the island raises questions of fairness, morality and rights. Thus, it is evident that the play depicts all the necessary tensions, uncertainties and master-slave relations that characterise colonialism and both Prospero and Caliban are signifiers for the greater imperial world order.

CEO Overconfidence and Corporate Investment Essay

CEO Overconfidence and Corporate Investment - Essay Example The paper is divided into seven sections, in the first section; Ulrike and Tate have developed a model that predicts that managerial overconfidence leads to positive investment-cash flow sensitivity. The second part they give the data that they used and the third section explains the building of overconfidence instruments and the substitute instruments. The fourth section gives the evidence they collected that supports the idea that CEO’s overconfidence increases the sensitivity of investment to cash flows, the fifth section deals with evidence to support the proposition that CEO overconfidence is more in the equity dependent firms. Section 6 examines the relationship of CEO’s overconfidence to other personal characteristics and section seven is the conclusion. In the first section, they use a 2 period model that shows the effects of a CEO’s overconfidence on a firms investments in an well-organized market. In coming up with the model, they assume that asymmetry of information and agency relationships does not affect the investment decisions of a manger and that the only factor affecting the decisions is the CEO’s overconfidence. ... In section 2, the paper uses data of 477 large publicly traded firms in the United States between the years 1980 and 1994, in order to compare the data on how the CEO’s managed their personal account and the firms account, more information was derived from COMPUSTAT database. The data measured include investments as capital expenditure, cash flow as earnings before extra ordinary items plus depreciation, and capital as property, plants and equipments, and investments and cash flow are normalised with the beginning of the year capital. In addition, information on the CEO’s employment histories is collected where the CEO’s are classified into three groups based on their education history, that is, those with technical education, those with finance education and those with other degrees In the results, the y found out that the out of the 113 CEO’s who qualified the holder 67 selection criteria, 115 of them displayed characteristics of overconfidence in their personal portfolios. From the results there were minimal cases correlation between overconfidence and the firm or the CEO’s characteristics, this relationship was found to be opposite for different subsamples or the different measures of overconfidence used. Some of the alternative explanations to the measures that Gate and Ulrike gave include the following. Inside information, this is where a CEO may decide to lower risk exposure of a company due information that he has on the future stock prices, this information will also influence the investment cash flow sensitivity. The second alternative is signalling where a company would be passing information to the capital markets that its prospects are better than of rival firm, signalling in most

Accounting and finance for managers Essay Example | Topics and Well Written Essays - 1250 words

Accounting and finance for managers - Essay Example The Return on Capital Employed ratio is used to analyse a company's position in terms of the return or profit it gains on the funds invested by the company's shareholdersIt shows the effectiveness of the company's management It shows the effectiveness and performance of the company's management to obtain more returns on the shareholders' investment. It is of importance to the company's management as well as investors and shareholders being a performance indicator for the company. The ROCE ratio for the Glaxo Smithkline plc is 102.78%, which shows that the company has been able to utilise the funds invested by shareholders in an profitable manner.The Asset Turnover ratio reveals the management's efficiency in utilising the company's assets towards sales and revenue generation (Meigs & Meigs, 1993). It is of particular interest to company's management in evaluating their policies and the revenue generation. The Glaxo Smithkline plc's asset turnover ratio is 90%, which shows that the sa les generated by the company proved to be 90% utilisation of the company's assets. It is a sign of an above-average performance of the company's management.The Gross Profit Margin Percentage evaluates the percentage of profit earned by a company on sales after the production and distribution activities (Mcmenamin, 1999). This ratio analyses the company's profit margin before accounting for various operating costs. This ratio is of critical importance to both the management and investors, in order to keep an eye over the company's income level and profit margin. The gross margin percentage for the company in consideration is 78.83%, which indicates that the company only loses about 22% of its sales revenue in the production and distribution activities. It is an indicator of the company's gross profitability. Net profit percentage 21.7% The Net Profit Marin Percentage ratio shows what percentage of profit a company earns on its sales (Mcmenamin, 1999). This ratio analyses a company's profitability after taking into account all the operating costs. The importance of this ratio is the same as that of gross profit percentage. The net profit percentage for Glaxo Smithkline is 21.7%, which means that the company loses about more of the gross profit in various selling and administrative expenses. Therefore, the company needs to revise its operating costs in order to gain much out of the actual gross profit. Current Ratio 1.5: 1 The current ratio measures short-term liquidity of a company in terms of its ability to pay off its short-term debts and liabilities (Meigs & Meigs, 1993) (Mcmenamin, 1999). It shows how much liquid assets a company owns against its short-term liabilities and obligations. The current ratio is of extreme importance to a company's short-term creditors for the purpose of a better evaluation of the company's liquidity position. The current ratio for this company is 1.5: 1, which means that the company owns about $1.5 worth of assets to pay off its short-term liabilities worth $1. Quick Ratio 1.3: 1 Quick ratio reveals the liquidity position of a company after keeping aside the value of stock (Meigs & Meigs, 1993). Therefore, it gives a quick review of a firm's liquidity position in terms of cash or the assets that can be quickly convertible into cash. It is of particular interest to the short-term creditors and suppliers of the company, as they need to evaluate a company's liquidity position and analyse how feasible it is for them to do business with the company. The quick ratio for this company is 1.3: 1, which means that after keeping aside the value of stock, the company still has $1.3 worth of assets to pay of its liabilities worth $1. Also, the difference between current and quick ratio shows that not most of the company's capital has been tied up in stock. Gearing Ratio 78.05% The Gearing ratio is an analyser of a company's long-term liquidity or solvency (Meigs & Meigs, 1