Nelson Mandelas Way to Freedom - 1188 Words

Nelson Mandela life was dedicated to the struggle to set his people free. Nelson Mandela was threatened with death and put in jail but when he came out he embraced grace and forgiveness. In the fight against the partied was in South Africa Mandela felt violence was justified, he was arrested on a charged with treason and sentenced to life in jail, for twenty seven years he was cut off from the world. In nineteen ninety he was set free, forgiving he appeasers Mandela led a new South Africa who was a freedom fighter who become a icon all across the world. Mandela`s own fight and made a vision for others across the word, he was born in 1918 in South Africa were black people were oppressed by a white minority. Raised in a large family by†¦show more content†¦When Mandela returned to Johannesburg, Nelson was arrested and charged with leaving the country without a passport. Nelson was found guilty and was sentenced to five years in jail but the A.N.C continued their campaign and the entire top leadership was arrested police found plans for sabotage and guerilla warfare which has Mandela mentioned which now means he and his members now face serious charges of plotting against the state and if they got convicted faced life in jail or death penalty and on the day that sentencing was made many believed Nelson would be getting the death penalty but was relieved to hear that it was life in prison instead with hard labour. For thirteen years Mandela was subjected to hard labour and had to curry lime stone, as guards tried to break down Nelsons spirits and bully him Nelson fought back by telling his comrades to be slower than ever when breaking up the lime stone so that it would act as punishment for the guards who had orders to obey by for a day’s work. Mandela made a name in the jail for himself and came to a point that the guards had to negotiate with him for the group to get work done because they were under Mandela`s commands and followed his tongue . He would yell to the others to go slow and took him ten minutes to lift his pick axe above his head to slow down the work pace and was charged to only receive rice water. Private mail was a way to control prisoners. Gauds was given orders to mess with the incoming andShow MoreRelatedThe Legacy of Nelson Mandela1215 Words   |  5 Pagessystem of apartheid (â€Å"In Nelson Mandela’s own words†). Nelson Mandela was a moral compass symbolizing the struggle against racial oppression. Nelson Mandela emerged from prison after twenty-seven years to lead his country to justice. For twenty-seven years he sat in a cell because he believed in a country without apartheid, a country with freedom and human rights. He fought for a country where all people were equal, treated with respect and given equal opportunity. Nelson Mandela looms large in theRead MoreNelson Mandel A True Inspiration For All Of Humanity1748 Words   |  7 PagesNelson Mandela: From Vision to Transformation A true inspiration for all of humanity, Nelson Mandela broke down barriers of social injustice, committing his life to the vision of a free and democratic society. His dedication and inspiration to those considered underprivileged or subjugated within their own governmental or political constraints serve as testaments to the power of leading with compassion and humility. Through his leadership and years of self-sacrifice, Nelson Mandela became SouthRead MoreComparing Martin Luther King and Nelson Mandela1041 Words   |  5 PagesActions, beliefs, and patience are characteristics that are comparable in both the lives of Martin Luther King and Nelson Mandela. I. Martin Luther King Jr. and Nelson Mandela performed similar actions in their lives. A. In 1955, Martin Luther King, Jr., fought for the civil rights of the black population in America. B. Similarly, in South Africa, Nelson Mandela fought for the freedom of blacks from apartheid. II. Another similarity between King and Mandela is that they had the same beliefs. ARead MoreEssay on The Man Who Changed South Africa: Nelson Rolihlahla Mandela955 Words   |  4 Pagesdecades and being a minority race? His name was Nelson Rolihlahla Mandela. He is a true inspiration to those who hear his story. Starting out as nothing more than a black man and ending as a person whose name is heard and recognized all over the world is something that just briefly explains Nelson Mandela’s life. As a true anti-apartheid Nelson Mandela did wonders for equality with much power even when imprisoned for nearly three decades (Smolowe 62). Nelson Mandela was a man admired by the world forRead Morenelson mandela is my hero1351 Words   |  6 PagesNelson Mandela Nelson Mandela, a true hero in this controversial world or just another politician? Was his 27 years of imprisonment for standing up against his nations government, which did not support human rights, equality and world poverty, something the country of Africa should be proud about? As disappointing as it might seem, the answer is a straight and simple, no. Nelson Mandela, my hero, the man that everyone knows, that conquered black domination in Africa, that healed his countriesRead MoreNelson Mandelas Fight for Freedom1646 Words   |  7 Pagesbecause of the pigment in your skin. For Nelson Mandela, this situation was a reality. This style of living began in 1948 and, thanks to Mandela, ended in 1994. Problems began when the National Party---dominated by Afrikaans-speaking descendants of the Dutch settlers—came to power in South Africa. Segregation and mistreatment of the less superior—non-whites--became a government policy called â€Å"apartheid,† which means à ¢â‚¬Å"apartness† in the Afrikaans language. Nelson Mandela refused to bow down to the unjustRead MoreNelson Mandela And His Success1408 Words   |  6 PagesNelson Mandela and His Success Introduction Nelson Mandela, the pursuit of freedom let him go out of the tribal sheikhs and take part in the movement for the emancipation of the underground. He had spent much time in the prison of a quarry, finally entered the presidential palace of the richest country in Africa. Nelson Mandela has strong character and he venerated national heroes. He is the eldest son in the family and is designated as the emirate. But he said he would never rule an oppressedRead MoreNelson Mandela Analysis1695 Words   |  7 PagesIn Nelson Mandela’s autobiography A Long Walk to Freedom, the final thought he leaves the reader with as he reflects on the moment’s pause he has taken to look back on his lifelong endeavours is: â€Å"But I can rest only for a moment, for with freedom come responsibilities, and I dare not linger, for my long walk is not yet ended,† (Mandela, 625). Even in his reflection of the wonderful accomplishments he has achieved in his lifetime Mandela attests to the ma ny responsibilities he still has, and similarRead More How Nelson Mandela used Rugby to unify South Africa Essay1543 Words   |  7 PagesAfter spending twenty-seven years in prison, Nelson Mandela was released from prison on February 11, 1990. In 1991, Nelson Mandela was chosen to become president of the African National Congress. In 1993, Mandela and South African President F.W. de Klerk announced an agreement that the African National Congress and the National Party form a transitional government, effectively ending apartheid and opening the political process to all South Africans (Williamson). Mandela was elected President of SouthRead MoreNelson Mandela Prisoner to Freedom Essay552 Words   |  3 Pagesâ€Å"As I walked out the door toward the gate that would lead to my freedom, I knew if I didn’t leave my bitterness and hatred behind, I’d still be in prison† (Mandela). In recent times, since Mandela’s death, his renowned views on leadership have b een of great debate around the world. To most, he was the first president of South Africa, a respected and courageous leader, but before that he was a convicted terrorist. His â€Å"hatred for the oppressor† taught him to forgive and forget and to emerge from prison

Swot - Pepsi and Coca Cola - 1142 Words

Sarbanes Oxley Act of 2002 The Sarbanes-Oxley Act of 2002 is a United States federal law enacted on 30th July 2002, also known as the Public Company Accounting Reform and Investor Protection Act of 2002 and commonly called SOX or Sarbox. This law was passed in response to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. These scandals, which cost investors billions of dollars when the share prices of the affected companies collapsed, shook public confidence in the nation s securities markets. Named after the sponsors Senator Paul Sarbanes of the Democratic party of Maryland and Representative Michael G. Oxley of the Republican party of†¦show more content†¦Given that the professional costs and managerial time varies little with company size, small and mid-sized companies must allocate a higher percentage of revenue to SOX compliance (Morgenstern and Nealis, 2004). Many of these firms have considered such measures as reverse stock splits to shrink the company to a size below that required to meet SOX’s strictest requirements, or have considered delisting the company. According to Wharton School study, most companies de-listed their shares in an attempt to avoid the high costs of complying with the SOX Act, with some smaller companies listing costs of as high as $500,000 to comply. Some companies, however, de-listed to avoid outside monitoring and scrutiny, leading the study’s authors to suspect that firms were not being managed in the most efficient way or that their compensation was excessive. The study found that some of the firms with â€Å"higher free cash flow and lower-quality accounting† were more likely to â€Å"go dark† – to deregister from the SEC and become private firms (AP, 2004). Independence of board members may also place hardships on smaller companies. Many publicly listed small companies have few board members, and the chief financial officer may act in the capacity of other positions. Smaller firms may not have the resources necessary to recruit qualified individuals to meet independence requirements .Show MoreRelatedSwot Analysis Of Coca Cola And Pepsi Co Essay1410 Words   |  6 Pages SWOT Analysis â€Å"Coca-Cola brands are available to consumers throughout the world. Today they account for 1.7 billion servings of all beverages consumed worldwide daily. Coca-Cola has the edge in the market and because they are first to capitalize on new consumer trends. They continue to focus on continuous operating improvements, and they are ever changing to meet market demands. Pepsi Co satisfies the needs of its customers with the wide variety of products offered. They alsoRead MoreSwot Analysis : Pepsi And Coca Cola1752 Words   |  8 PagesIntro/Comparative Financial Analysis Pepsi and Coca-Cola companies are among the biggest corporate competitors due to their similar products and target market. The two companies are the greatest competitors in the beverage industry compared to other firms in the global market. However, the financial performance of the two companies has been positive, which is essential for prospective investors intending to invest in the beverage industry. An investor should be informed by the financial performanceRead MoreRecommending a Marketing Mix for a Product or Service1604 Words   |  7 PagesMarketing Mix for a Product or Service Executive Summary This report mainly talked about a product-Pepsi. In this report, the purpose was compared and contrasted which 4Ps is better to the Pepsi and wanted more people to buy it. The thesis was compare and contrasts the Pepsi with the competitor - Coca Cola. So the report needed find some information and interview some people. The key finding was that SWOT and 4Ps is very important to the product. And the key conclusion and recommendation was the firstRead MorePepsi Cola As A Carbonated Soft Drink Essay1071 Words   |  5 Pagesinnovation but they also use other tricks to get an upper hand on each other, for example: Microsoft and Apple, Ford and General Motors, or PepsiCo (NYSE: PEP) and Coco Cola (NYSE: KO) (StreetAuthority, 2014). Pepsi is a carbonated soft drink produced and manufactured by PepsiCo (NYSE: PEP). PepsiCo Inc. was established by the merging of Pepsi-Cola and Frito-Lay. Its World Headquarters is located at Purchase in New York. PepsiCo is an American multinational company which also manufactures snacks, food andRead MoreMarketing Strategy Of Coca Cola Essay1124 Words   |  5 PagesIntroduction The Coca-Cola Company is considered one of the largest distributors, marketers and manufactures of soft drink syrups and concentrates internationally (Bodden, 2009). Headquartered in Atlanta, Georgia, in America, it is popularly known for its Coca-Cola flagship product, and is among the biggest corporations in the United States. Presently, Coca-Cola is a globally known soft drink company with further ambitious plans of growing the brand to places it has no presence. The majority ofRead MoreCompany Overview Of Coca Cola1738 Words   |  7 PagesAre you a Coca-Cola or Pepsi person? Well I personally prefer Coca-Cola. In 1886 pharmacist Dr. John S. Pemberton founded Coca-Cola. He desired to create a delicious soft drink, so he conjured up a flavored syrup that might fill his desire. Pemberton then mixed the syrup with carbonated water to get a final product ready for sampling. The people who sampled his creation said that it was â€Å"excellent.† Frank M. Robinson is recognized for giving Pemberton’s beverage the name of â€Å"Coca-Cola† and givingRead MoreCase Analysis : New Coke1130 Words   |  5 PagesAnalysis Founded in 1892, the Coca-Cola Company is known to have created the â€Å"world’s best-selling soft drink.† However, in the 1970s, Coca-Cola was rivaled by Pepsi-Cola, a competitor offering a substitute product. Coca-Cola had been winning the war for over 87 years when consumers began to prefer Pepsi-Cola’s product. Even loyal Coca-Cola consumers admitted to desiring Pepsi over traditional Coke. These confessions, combined with Pepsi’s own research findings, encouraged Pepsi to unleash a new streamRead MoreCoca Cola s Business Level Strategy Essay1142 Words   |  5 Pages I bet you didn’t know that Coca-Cola’s formula, which included the ingredients kola nuts and coca leaves, was created as a remedy. The soft drink was created by John S. Pemberton in 1886 as a nerve tonic to help him deter from using morphine. This remedy was said to â€Å"cure† morphine addiction, indigestion, nerve disorders, impotence, and headaches. Consumers preferred the original formula over the â€Å"New Coke† which was introduced in 1985. The original formula is a trade secret that is accessibleRead MoreStrategic Decisions That The Coca Cola Company920 Words   |  4 PagesSummary The objective of this paper is to stipulate the strategic decisions that the Coca-Cola Company makes following its SWOT analysis. These choices are compared to differentiation method, which is one of Porter s generic strategies that the company adopted to gain competitive advantage. The differential strategy entails producing products which are different from those of the competitors. Notably, Coca Cola s products are not unique, but there brand and reputation put them on a higher nicheRead MoreCoca Cola, The Biggest Supplier And Producer Of Carbonated Soft Drink1453 Words   |  6 PagesIntroduction Coca-Cola is the biggest supplier and producer of carbonated soft drink which are heavily known and sold all over the world. The Coca-Cola Company claims that the drink is sold in more than 200 countries worldwide. Coca-Cola are the biggest drink manufacturer in the world and because of its soaring popularity it is the most popular beverage in the world. Forbes ranks Coca-Cola as #4 on the world’s most popular brand with a brand value of $56billion as of 2015. Coca-Cola is recognised

Receivables Management on Profitability †MyAssignmenthelp.com

Question: Discuss about the Receivables Management on Profitability. Answer: Introduction Financial analysis focus on evaluating financial position of the company. It is done with the use of final accounts of the company which are prepared at the end of the financial year. This analysis shows the profitability, efficiency, liquidity and overall fianc structure of a company. This report is all about the critical examination of the performance and position of the two companies which are Microsoft and Oracle. A comparative analysis of the financial position of these two companies is done to know which company is more profitable and efficient form investors point of view (Vogel, 2014). Microsoft Corporation is a multinational information technology company. It is an America based company whose founder is Bill Gates and Paul Allen. It manufactures, licenses, and sells a wide range of software products and services. Its known software products are Microsoft Windows, Microsoft Office Suite and Internet Explorer. It also designs and sell hardware devices such as Xbox, Windows phone and so on (Microsoft.com, 2017). Oracle Corporation is a computer technology corporation which basically deals in developing database software, cloud engineered systems and enterprise software products. It is considered to be the largest software developer after Microsoft and is also amongst Microsofts main competitors. Larry Ellison, Bob Miner and Ed Qates are the founders of this corporation. Oracle Applications, Oracle database, servers are some products produced and deliver by the corporation (Oracle.com, 2017). In this report, Ratio analysis of the final accounts of both the companies is done so to let the investors know about the better performing company to invest in. To measure companys profitability, efficiency, liquidity and to know about its overall finance structure, the method of ratio analysis is used. It includes measurement for several categorized ratios to know about the different aspects of an organisation. They are classified as liquidity ratios, solvency ratios, activity ratios, efficiency ratios, and profitability ratios. To analyse the final accounts of both the companies, ratio analysis is done (Fraser, Ormiston and Fraser, 2010). Financial statements Microsoft Corporation Liquidity Ratios 2016 2017 Current ratio 2.352881716 2.477273079 Quick ratio 2.31495864 2.443473275 Working capital 80,303.0 95,324.0 These ratios are used to show how quickly a company can converts its assets into liquid form that is cash. There are two type of liquidity ratios named as current ratio and quick ratio (Zainudin and Hashim, 2016). Oracle Corporation Liquidity ratio 2016 2017 Current ratio 3.737389586 3.08193399 Quick ratio 3.725069735 3.069526015 Working capital 47,105.0 50,337.0 Current ratio: It is used to know about the amount of current liabilities in proportion to current assets. It also shows the capability of the company to meet its short term debts. 2:1 is considered an ideal ratio. Microsoft Corporation ratio has raised from 2016 to 2017 while there is a decrease in Oracles current ratio during 2016-2017. It clearly indicates that Microsoft has enough assets to pay off its liabilities in comparison with oracle because a large portion of its current assets comprises of cash and less is involved in inventory which enable it to make other investments with its assets and providing the investors a better view of the performance. Quick ratio: An acid test ratio used to measure potential of the company in paying its debts with se of most liquid assets like cash. It also means how quickly a company can convert its current assets into liquid form. 1:1 is treated as an ideal ratio. There is an increase in the quick ratio of Microsoft and a decrease in the ratio of Oracle. Both the companies have capability to pay off their short term debt with their quick assets but Microsoft can perform this task more efficiently as compare to Oracle. The reason being, it has high portion of liquid cash in comparison to its current liabilities, which can be easily used to pay them off (Saleem and Rehman, 2011). Efficiency ratios These ratios helps in analysing that in what manner company is utilising its resources. They indicate the potentiality of the company to use its assets and manage its liabilities in an effective and efficient manner. The efficiency ratios are: Debtors turnover ratio: It shows how well a company can collect the cash from its trade debtors. A high ratio states that debt collection of the company is efficient. Creditors turnover ratio: It evaluates that how frequently a company pay to its trade creditors. A high ratio means that the company is capable enough to pay back its account payables on a regular basis. Inventory turnover ratio: Efficient management of the inventory and the number of times a company sold its inventory during a year can be observed by this ratio. Assets turnover ratio: It a ratio between the revenues and the assets of the company. It shows the effective employment of the assets by the company to make or generate revenue. A higher ratio indicates better company performance. Microsoft Corporation Efficiency ratio 2016 2017 Debtor turnover ratio 4.725629778 Creditor turnover ratio 4.795772676 Inventory turnover ratio 15.46074007 Assets turnover ratio 0.413772483 Oracle Corporation Efficiency ratio 2016 2017 Receivable turnover ratio 7.061862424 Creditor turnover ratio 13.54306437 Inventory turnover ratio 29.17578125 Assets turnover ratio 0.305278532 The debtor turnover for Microsoft is 4.7 and for oracle, it is 7.06. As it has been said that a high account receivable ratio is more favourable for the company. Oracle has higher ratio as compare to Microsoft which means it collects its receivables more efficiently and regularly during the year. It can convert its debtors into cash faster than Microsoft and is able to pay its liabilities sooner (Jindal and Jain, 2017) Higher creditors turnover ratio proves to be good for the company. In comparison with Microsoft, Oracle has high payable turnover ratio of 13.54, which implies that it pay off to its creditors very frequently and also have a stable liquidity. This ratio is generally used by the creditors and from their point of view a company who can pay them back frequently and regularly is much better than the company who make delays in the payment. So in terms of this, Oracle is performing better than Microsoft. As compare to industry standards, companies prefer higher inventory turnover ratio. Comparatively, Microsoft has low ratio which means it has purchased more inventory and may lead to over stocking, whereas Oracles ratio shows that it has managed its inventory in a well-planned manner. Inventory ratio is important for the investors and having a high ratio tells the investor that the company is not buying the stock unnecessarily and is very effective in selling it (Barman and Sengupta, 2017). Asset turnover ratio of Microsoft is a little bit more than Oracle. It implies that Microsoft is good at generating its revenue by using its assets efficiently and also gives an indication to the investors that the company is managing its assets very well to develop sales. Profitability ratios Detail study of the financial accounts of a company to know about its profitability or in other words to have an idea about its ability to generate profits from its operations, is done with the help of Profitability ratios. These ratio give an overview of the companys profits being made during the fiscal year. Types of profitability ratios are net profit ratio, gross profit ratio, operating profit ratio and so on (Camilleri and Camilleri, 2017). Microsoft Corporation Profitability Ratios 2016 2017 Operating Profit Margin 0.246061885 0.282056698 Net Profit Margin 0.196882325 0.235730962 Return on Capital Employed 0.2 0.1 Return on Equity 0.233315277 0.292897201 Return on Total assets 0.086724421 0.087952017 Oracle Corporation Profitability Ratios 2016 2017 Operating Profit Margin 0.348449267 0.352920908 Net Profit Margin 0.240262369 0.247428965 Return on Capital Employed 0.1 0.1 Return on Equity 0.188225592 0.173319718 Return on Total assets 0.079345694 0.069152758 Operating Profit Ratio: This ratio shows how systematically a company can control its cost and make profits after meeting its all operating expenses. A higher ratio is more favourable as compare to a lower ratio. Calculation of this ratio gives a clear idea that operating margin of Oracle is more than Microsoft and it has also increased during the year. This means Oracle has enough capacity to make revenue from its operations and for investors, it is a good option to invest in as it makes the proper use of its ongoing operations to generate revenues. Net Profit Ratio: It is calculated to know about the profits earned by the company during a fiscal year. A high ratio indicates the proper and efficient management of businesss operations in order to raise profits from annual sales. As per the calculations done above, it can be seen that net profit margin of Microsoft Corporation has been increased from 19.68% to 23.57% whereas on the other side Oracles profit margin almost same as compare to the previous year which is 24.74%. Although, the profit percentage of Microsoft has risen during the year but it is less than that of Oracles margin. This clearly means Oracle Corporation has high profitability and is able to maintain its profits at an increased level during the fiscal year. Return on Capital Employed: It shows the effective utilisation of assets in long term financing. Investors generally prefer this ratio, as it provides them the information about companys effective and efficient use of its capital employed. As far as Microsoft is concerned, the ratio is 0.2 in 2016 and 0.1 in 2017 and on the other side ratio of Oracle is same during the year 2016-2017 that is 0.1, which implies that they have used its capital employed in an efficient manner and maintained a stability in their profits (Kartio, Mirza and Shaikh, 2017). Return on Equity: This ratio measures how well a company make use of its shareholders investment in generating profits. A higher return on equity is favourable for the company. In comparison to Oracle Corporation, return on equity of Microsoft is higher and has also increased during the year. This means that the company is performing better and investors can invest in it as they will get higher returns on their investment. Getting high and increasing returns is one of the factors, investors look for in a company (Penman, Reggiani, Richardson and Tuna, 2017). Return on Total assets ratio: It shows the efficient management of all assets to produce revenues. A higher ROA is good from investors view point. There is a slightest increase in the ROA of Microsoft while ROA of Oracle has decreased. It indicates that Microsoft is using its assets to make profits more effectively. It can easily convert its assets investment into revenues. A positive ROA generally shows the increasing trend of profits (Jenter and Lewellen, 2015). Capital structure ratio These are the ratios used to know about the capital structure of a company. They give an idea of the arrangement of funds for business operations. One of the capital ratio is debt-equity. Debt comprises of long term creditors, issuing of bond while equity means investment done by investors, earnings retained by the company. Microsoft Corporation Capital structure ratio 2016 2017 Debt- equity 1.690306541 2.33019311 Interest coverage ratio 16.88978278 11.41809181 Oracle Corporation Capital structure ratio 2016 2017 Debt- equity 1.37222187 1.506331229 Interest coverage ratio 8.799591002 7.405450501 Debt-Equity Ratio: It compares the companys total debt and total equity. It shows the proportion of company funds raised from debt and equity. A higher ratio indicates that the more funds are been raised through creditors as compare to investors so a lower ratio is more favourable (Levi and Segal, 2015). Microsofts debt equity ratio is higher than Oracle and has also raised during the year. It is riskier for the investors and creditors to invest in this corporation. Generally creditors does not prefer higher debt equity ratio as it gives them an indication that the portion of investment done by investors is less than that of done by them. Whereas oracle has more stable business and investors can invest in it. Interest Coverage Ratio: It gives an idea about the interest payments done by the company in a given period of time. Creditors generally used this to know about the risk taking factor of the business. A coverage ratio of more than 1 is always considered good. As compare to Microsoft, Oracles ratio is less while Microsoft has better coverage ratio and is capable of paying its interest payments time to time. Proper funds can be raised from creditors as they dont have to worry about their payments. Investors should also invest as the risk factor of Microsoft is low as compare to Oracle (Ferrarini, Hinojales and Scaramozzino, 2017). Conclusion As per the above analysis and interpretation, it can be concluded that the profitability and efficiency of Oracle Corporation is much better than Microsoft Corporation. Microsoft is good at maintaining its liquidity, return on equity and assets at an increased level as compare to Oracle. But doing the overall comparison of the financial performance of both the companies, it can be said that Oracle is performing better than Microsoft at all grounds and as investors always look for a company which has better profitability, efficiency and a good financial structure. Oracle is proved to be a good option for them in order to invest their money in it. References Penman, S.H., Reggiani, F., Richardson, S.A. and Tuna, A., 2017. A Framework for Identifying Accounting Characteristics for Asset Pricing Models, with an Evaluation of Book-To-Price. Barman, A.N. and Sengupta, P.P., 2017. DETERMINANTS OF PROFITABILITY IN INDIAN TELECOM INDUSTRY USING FINANCIAL RATIO ANALYSIS.International Journal of Research in Management Social Science, p.25. Camilleri, E. and Camilleri, R., 2017.Accounting for Financial Instruments: A Guide to Valuation and Risk Management. Taylor Francis. Ferrarini, B., Hinojales, M. and Scaramozzino, P., 2017. Leverage and Capital Structure Determinants of Chinese Listed Companies. Financials.morningstar.com. (2017).Balance Sheet for Microsoft Corp (MSFT) from Morningstar.com. [Online] Available at: https://financials.morningstar.com/balance-sheet/bs.html?t=MSFTregion=usaculture=en-US [Accessed 25 Oct. 2017]. Financials.morningstar.com. (2017).Income Statement for Oracle Corp (ORCL) from Morningstar.com. [Online] Available at: https://financials.morningstar.com/income-statement/is.html?t=ORCLregion=usaculture=en-US [Accessed 25 Oct. 2017]. Fraser, L.M., Ormiston, A. and Fraser, L.M., 2010.Understanding financial statements. Pearson. Jenter, D. and Lewellen, K., 2015. CEO preferences and acquisitions.The Journal of Finance,70(6), pp.2813-2852. Jindal, D. And Jain, S., 2017. Effect of Receivables Management on Profitability: A Study of Commercial Vehicle Industry in India.Management,2(2), pp.246-255. Kartio, M.A., Mirza, A. and Shaikh, F., 2017. Impact of Global Financial Crisis on the Performance of Commercial Banks of PakistanA Case Study of MCB Bank Limited. Levi, S. and Segal, B., 2015. The Impact of Debt-Equity Reporting Classifications on the Firm's Decision to Issue Hybrid Securities.European Accounting Review,24(4), pp.801-822. Microsoft.com. (2017).Microsoft - Official Home Page. [Online] Available at: https://www.microsoft.com/en-in [Accessed 25 Oct. 2017]. Oracle.com. (2017).Oracle | Integrated Cloud Applications and Platform Services. [Online] Available at: https://www.oracle.com/index.html [Accessed 25 Oct. 2017]. Saleem, Q. and Rehman, R.U., 2011. Impacts of liquidity ratios on profitability.Interdisciplinary Journal of Research in Business,1(7), pp.95-98. Vogel, H.L., 2014.Entertainment industry economics: A guide for financial analysis. Cambridge University Press. Zainudin, E.F., Zainudin, E.F., Hashim, H.A. and Hashim, H.A., 2016. Detecting fraudulent financial reporting using financial ratio.Journal of Financial Reporting and Accounting,14(2), pp.266-278.