Tuesday, October 29, 2019
Plea Bargaining Assignment Example | Topics and Well Written Essays - 250 words
Plea Bargaining - Assignment Example On the part of the prosecution, the advantage is the assurance of having a conviction, albeit for a lesser crime or minimal penalty, over the possibility of the accused walking off with an acquittal. On the part of the defense, the benefit is the chance of being convicted to a lesser offense or for the same offense for a significantly lighter penalty over the possibility of a conviction on the original charge and for the maximum penalty [Premo v.Ã Moore (Docket No. 09-658)]. Finally, especially for high profile parties to case, a plea bargain avoids prolonged trial which means less publicity and media frenzy. It is admitted that a criminal prosecution is an action of the State and the prosecutor represents the State; nevertheless, the victim needs to be consulted in the process of plea bargaining. The victim suffered from the criminal act and will have difficulty in overcoming the trauma and in moving on if he still feels that he has never been truly vindicated with the plea bargai n deal. I agree with plea bargaining. Although it is never a perfect system, it sure does make the wheels of our criminal justice system move forward for the common good. Reference List: Jeff Premo v. Randy Joseph Moore, Docket No. 09-658. Accessed on May 26, 2011. Available at http://www.supremecourt.gov/opinions/10pdf/09-658.pdf
Sunday, October 27, 2019
The Work And Impacts Of Gertrude Wilson Social Work Essay
The Work And Impacts Of Gertrude Wilson Social Work Essay When pursuing a degree in social work, a student experiences equal exposure to group work and individual case work. The curriculum set out by the Council for Social Work Education (CSWE) requires that a healthy mixture of the two be taught in order to grant a degree in social work (CSWE, 2010). Every person becomes involves with different groups during their life, but within social work, groups are a tool for helping bring people together and solve problems, not only for recreation. One of the people responsible for the foundation of group work education in America was Gertrude Wilson. Gertrude Wilson was born in 1895, three years before the first course on social work was available at Columbia University in 1898. She was raised in a town with fewer than 200 people in Dana, Illinois (Chambers, 1986). Miss Wilson grew up seeing women like Jane Adams and Frances Perkins having an impact on the social fabric of America through the settlement house movement. She entered Illinois Womens College in 1915, but ended up receiving a Bachelors degree in Philosophy from the University of Chicago (Chambers). After two years of teaching high school, she became a secretary for the Young Womens Christian Academy (YWCA) in Pennsylvania. Ten years later, she returned to Chicago as the administrator of the new Women in the Workforce branch of the YWCA. Miss Wilson has stated that her experience with the YWCA opened her eyes to the ability of groups to influence peoples lives for the better (Greenwood, 1985). It was during her time with the YWCA that she met Grace Coyle, a sociologist, who convinced her to leave the YWCA and take a position teaching at Western Case University in Cleveland, Ohio in 1935. Wilson attended the University of Chicago part time while teaching in Ohio and received her M.A. from its School of Social Service Administration in 1938 (Chambers, 1986). She became a member of the American Association for the Study of Group Work (AASGW) and assisted Coyle with some of the first research done on groups in social work. Shortly after receiving her degree, Wilson moved to the University of Pittsburgh. It was here that she published her first two, and what many believe, most influential books (Weil, Southerland, Chou, 1991). Her first book, Case Work and Group Work was published in 1941.When Wilson began writing, the field of social work was dominated by case work, a more individual based approach that applied methods of psychoanalytic theory rather than examine environmental factors. Along with Coyle, she was among the first to argue that personal problems were not solely internal, but also found in external sources such as family organization and interaction. She advocated an integrated approach that involved both case work and group work to treat separate issues together rather than individually (Wilson G. , Case work and group work, 1941). Case Work and Group Work was not written with the intent to make group work seem more important than case work. In the first few pages of Case Work and Group Work, Wilson decried the short-visioned little cults of method and function that claim their superiority at the expense of healthy clients (Wilson, 1941). Hers was an argument to consolidate the two approaches rather than create separate disciplines. Group social work existed, but still lacked any single academic foundation for study. She presented the book before the AASGW, the Psychiatric Social Workers Association (PSWA), and multiple schools of social work around the country. At the National Conference on Social Work in 1942, Gertrude Wilson further expanded on what she began discussing in Case Work and Group Work. Wilson believed that group work could bring about changes in the values of individuals and society as a whole. She argued that a worker could dynamically influence the environment of the group for the better by directing certain processes towards specific social goals (Wilson G. , 1942). At this conference she defined three different ways in which the worker might influence the group by à ¢Ã¢â ¬Ã ¦directing the process toward the accomplishment of a social goal conceived in a democratic philosophy. They are 1) developmental, as it provided for normal social growth; 2) protective or corrective, in that it could be offered to people without groups; and 3) instrumental in achieving of socially desirable ends. (Wilson) Her view put forth the idea that the good of the one and the good of the many were dependent on each other and social workers had a social responsibility to address both in order to build society (Weil, K., Southerland, 1991) After several years at Pittsburgh University, Miss Wilson and her colleague Gladys Ryland published Social Group Work Practice. Group work had lacked this academic foundation for so many years. It offered a systematic method of applying group work for social work practice. As the first book to actually offer a process for applying group work, it became the first textbook for group work and was used in schools of social work across the United States. It was called the Green Bible due to the color of its cover and size (Weil, Southerland, Chou, 1991). Many still consider it the most influential book on group work in social work history (Chambers, 1986). The 700-page book can be divided into two sections: practice methods and case studies. The first half of the book described group work methods and theories about groups. For the first time, a social group work method was described. This was based on Wilson and Rylands experience with groups and Grace Coyles research. Miss Wilson expressed the key goal of group workers as such: The workers aim is to help the members of groups develop the capacity to carry on their own group life and achieve goals (Wilson, 1949). This goal is still considered important and appears in the National Association of Social Workers (NASW) Code of Ethics to this day NASW, 2009). The second half of the book contained analyses of different groups, their specific activities and how the social group work method applies to them. Miss Wilsons research over the years is seen here in the detailed case studies included in this section. The case studies cover groups from preschool to retirement, reflecting the extent that Miss Wilson went to in researching the book. Significantly, much of the case study material was drawn from work in recreational and informal educational agencies because group social work was not practiced often in a clinical setting at that time (Weil, Southerland, Chou, 1991). The case studies included in Wilsons book may be dated, but the concepts of group work that they represent have withstood the test of time. The last half-century has seen a great deal of social change and numerous group work textbooks since Social Group Work Practice, but Wilsons original ideas about group work have remained largely unchanged and few modern texts can refer to group work without referencing the work of Gertrude Wilson, especially this book. One of the most tempestuous times in Gertrude Wilsons life was during the time that she and Gladys Ryland were putting Social Group Work Practice together at the University of Pittsburgh. During the late 1940s, anti-communist politicians began attacking the field of social work because of its progressive views and support of New Deal policies to assist the needy (Andrews Reisch, 1997). One of the main targets was Marion Hathaway, the director of the School of Social Work at the University of Pittsburgh (Reisch Andrews, 2001). Wilson was among the several educators and students that supported Hathaway and her support (along with many other faculty members) caused friction between the School of Social Work in Pittsburgh and the university chancellor (Wilson, 1978). Wilson was one of the many professors who resigned from the college in 1950 under pressure (Wilson). Ryland was terminated after refusing to resign a few months after Wilson left (Andrews Reisch). Wilson did not let this controversy stop her career. She joined the School of Social Welfare at Berkeley in 1951. It was here that she developed a professional education program focused on training new social workers. Originally known as the Certificate Program in the Social Services, it contained specific courses over a two-year period that ended with a two-week seminar on campus (Greenwood, 1985). The Council on Social Work education (CSWE) in 1952 adopted this program as the model for national accreditation (Weil, Southerland, Chou, 1991). At Berkeley, Wilson taught courses in both theory and practice in group work. She was a frequent speaker at seminars and conventions all over the United States and she guest-lectured at the Columbia, Smith, and Tulane Schools of Social Work. Even after retirement, she served as a consultant to social agencies, schools of social work and professional associations. Wilson used her own experience to constantly refine what she considered a dynamic aspect of social work (From practice to theory: a personalized history, 1976). Wilson wrote dozens of conference papers, journal articles, chapters in books, and monographs although she will most likely always be remembered for Social Group Work Practice with Gladys Ryland in 1949. She was one of eight social work pioneers chosen for the NASW Oral History Project in 1978. Each participant took part in a 1-2 hour interview that was recorded and placed in the Library of Congress. Berkley performed a similar interview on videotape in 1982. Both recordings are very difficult to obtain. Although she officially retired from Berkeley in 1963, the college was very gracious following her death from cancer in 1985 (Greenwood, 1985). Gertrude Wilson was an amazing woman who pushed social barriers as an educator and activist. She was one of very few women with a full professorship in the 1930s. Her work in the first half of the 20th century still influences social work today in the 21st. She had a passion for helping people that encouraged her to study a field of practice that was barely recognized until the 1940s. Not only did she pursue that field, she made it possible for others to do so as well by writing the first textbook on the practice of group work. Her certificate program at Berkley was the foundation for modern undergraduate social work curriculum in universities across the nation. These are all accomplishments she made in her field that show her impression on the practice, theory and future practitioners of social work. Personally, I am inspired by her resolve to follow her passion even though there wasnt a road to follow; she dug it out herself so that she could reach her destination and so that others could follow her. It is this attitude that inspires me in my pursuit to implement school social work in Oklahoma. It will never exist in Oklahoma if people do not fight for it and have a practical way to practice it once it does.
Friday, October 25, 2019
The Theme of Carpe Diem in Francis Macomber and Capital Of The World Es
The Theme of Carpe Diem in Francis Macomber and Capital Of The Worldà à The Short Happy Life of Francis Macomber and The Capital Of The Worldà à à A lot of Hemingwayââ¬â¢s stories deal with life and death. Death even found itââ¬â¢s way into some of the titles we have read so far. However, in discussing death, we first have to look at life or rather how a life was lived, to truly understand what death meant in the particular instance. Both short stories, The Short Happy Life of Francis Macomber, and The Capital Of The World deal with lives cut short by a chance and accidental encounter with death, while the soon to be deceased seem to gamble and court death. Both also seem to have secondary characters that serve as guides of sorts into this journey. However only one of these characters seems satisfied when cut down, and that is what Hemingway thinks makes all the difference. à For example, in The Capital Of The World, were are introduced to the character of Paco. Early in the story, Hemingway writes, ââ¬Å"Madrid is full of boys named Pacoâ⬠(29). And, as stated in class, Francis, from The Short Happy Life of Francis Macomber, to bears a rather unusual name. While ââ¬Å"Pacoâ⬠is told to be common, we recognize ââ¬Å"Francisâ⬠as being an odd name for a man. The names are different, but the effect seems to be the same. Hemingway named his characters to give us a picture of who they are. With ââ¬Å"Pacoâ⬠, we see just another faceless boy, and with Francis we assume a poor example of a ââ¬Å"Hemingway manâ⬠. Both of these are then set up to be unremarkable characters that may have to prove their worth. And that is what drives each particular story. à Both stories also have characters that drive each respective protagonist into his... ...;The Short Happy Life of Francis Macomber ends with Wilson saying, ââ¬Å" ââ¬ËIââ¬â¢m though nowâ⬠, he said,ââ¬â¢I was a little angry. Iââ¬â¢d begun to like your husbandââ¬â¢Ã¢â¬ (28). What Hemingway is telling us plainly is that Macomber was able to achieve something. His death, although tragic, is not as tragic as Pacoââ¬â¢s. As we have said many times in class, Hemingway knows death does indeed come for everyone. From short stories like The Killers to novels like For Whom The Bell Tolls, death can almost even be described as a reoccurring character in Hemingwayââ¬â¢s work. However death impact is weighed by comparing it to life. For Macomber, death came at his highest point. He went down like man. Paco however, lost his life before he could lose his innocence. He was not even given the chance to live. And that is what Hemingway thinks is all the more tragic. To die not like a man, but a boy. Ã
Thursday, October 24, 2019
Qualitative Versus Quantitative Methods in Education Research
All educational (and other) research falls into two broad methodological categories: qualitative and quantitative (Lincoln & Denzin, 1994; Charles, 1998; Merriam, 1998; Holliday, 2001). ââ¬Å"Research that relies on verbal data is called qualitative research, while research that relies on numerical data is called quantitative research [emphasis original]â⬠(Charles, p. 30). Various opinions exist, depending on oneâ⬠s viewpoint, experience, or preference, about which of the two major approaches to education research, qualitative or quantitative, is better. In my own opinion, neither quantitative research in education nor qualitative research in education is inherently ââ¬Å"betterâ⬠or ââ¬Å"worseâ⬠; oneâ⬠s research method must spring from the design and content of the project itself. To decide on one research method or another, based on other reasons, seems to me both artificial and possibly harmful to the project. I believe that both of these methods are inherently, equally useful depending on how and why they are used, and on what is expected from the project by the researcher and others. According to Charles (1998), the original impetus for any educational research project, either qualitative or quantitative, springs from an initial recognition of a particular problem or concern, perhaps previously unidentified or insufficiently researched: A concern is identified for which there is no ready answer. The concern may have arisen because of a need, an interest, or a requirement, or a commissioned work, and may have been present for a long time or may have arisen unexpectedly. For example . . . ducators have identified a disturbing pattern of academic achievement in . . . schools-students from certain ethnic groups seem to progress more rapidly than others, despite the educatorsâ⬠efforts to provide equal educational opportunities for all. (p. 10). We would use qualitative research . . . to investigate and describe the after-school activities of . . . high school students newly arrived from El Salvador. We would try to document carefully who did what, and the data thus obtained would be mostly verbal, acquired through observation, otation, and recording. On the other hand, if we wished to assess the language and mathematics abilities of those same students, we would use quantitative research. . . . administer tests that yield numerical scores we could analyze statistically. (Charles) Qualitative research in education involves using research methods that might include observation; interviewing, or shadowing of research subjects, and/or interpretation of data, from an individual, non-empirical perspective. Quantitative research, on the other hand, uses methods like statistical surveys; questionnaires with results are broken down by percentages, and interpreted on that basis, and other empirical (rather than interpretative) methods. It is also possible, within some education research projects, to combine qualitative and quantitative research into one project, for example, by doing both statistical surveys of minority high school students on their feelings about access to college-preparatory and advanced placement courses, and personal observations of minority students within their high schools. I see considerable merit within both educational research methods, and have read a number of both qualitative and quantitative studies that I have found worthwhile and helpful. Therefore, I believe that it depends on oneâ⬠s project design, and oneâ⬠s goals for the project, whether one should select either a quantitative or a qualitative research method, or perhaps a combination of both methods, to best achieve oneâ⬠s goals for an educational research project.
Wednesday, October 23, 2019
Financial Analysis of Mitchells & Butlers 2007 Annual Report
Title Page Date: 12/12/09 The following report is designed for the purpose of a business analysis. I have chosen to analyse Mitchells & Butlers PLC by firstly, looking closely at the annual report produced by the company over a two year period and secondly, by researching their financial activities further than the annual report explains. I will compare and contrast ratios to help give the reader a better understanding of the companyââ¬â¢s profitability, liquidity, activity and leverage. Summary In my analysis of Mitchells and Butlers PLC accounts for the years ending 2007 and 2008 I found that the Group has a very complex financial structure. Especially with the occurrence of a financial disaster which ended in the loss of two years worth of earnings, which, in turn resulted in the departure of the finance director and calls for further boardroom departures from the disgruntled shareholders. Mitchells & Butlers is a high geared business and therefore a risky investment venture. The company are well positioned in the market for long-term success but the ratios do let down the attractiveness of investment by their much lower percentage of current assets to current liabilities, high gearing and low net profit margins. *Brief Historical Background* Mitchells & Butlers is one of the UKââ¬â¢s largest operators of managed establishments with a strong portfolio of branded and unbranded pubs and restaurants with a mass market appeal. Their popular brands include All Bar One, Harvester and Ember Inns. Founded in Smethwick Birmingham as a result of the Beerhouse Act of 1830 easing the law on domestic brewing, Henry Mitchellââ¬â¢s and William Butlerââ¬â¢s breweries merged in 1989. The company acquired rival breweries and rapidly expanded and merged with Bass in 1961, emerging as Six Continents before separating into hotel and retail businesses and becoming Mitchells & Butlers once again. Implication of Ratios on Mitchells & Butlers *(M&B)ââ¬â¢s Financial Position* Mitchells & Butlers Gross1 profit ratio for both 2008 and 2007 is 25% and 24. 9% respectively. An increase of 0. 1% is satisfactory during these trying times for Mitchells & Butlers PLC. This indicates that operating costs account for 75% of the sales revenue. These huge costs are largely down to M&Bââ¬â¢s ââ¬Ëvalue and volumeââ¬â¢ strategy. The company feel they are well placed in the troubled economy as they offer great value for money. This strategy makes for a high sales turnover but not a huge mark up on the product. They are constantly striving to be as efficient as possible and have a low paid and low skilled workforce to help combat high operating costs, and gain a competitive advantage. The Group have faced a turbulent year, dealing with the economic downturn in consumer spending and the inevitable decline in alcoholic beverage sales across the sector as a whole. This was not helped by the introduction of the smoking ban in England and Wales, following suit from Scotland and Northern Ireland, and costs such as fuel and energy spiralling ever higher. Itââ¬â¢s no surprise then, when we look at the Net Profit Margin2 and see that it has decreased by 1. 5% from 10. 9% in 2007 to 9. 4% in 2008. In the midst of a depression this decline is not too alarming. With a Gearing ratio3 of 2. 4:1 in 2008 and 1. 5:1 in 2007 there is a high risk involved when investing in this company. From analysing M & Bââ¬â¢s debt structure it seems further leveraging of its balance sheet would be difficult given the harsh, current conditions in debt markets. The Groupââ¬â¢s pension fund deficit creates further problems when trying to attract prospective private equity buyers. As you can see it has become a considerably higher geared company in 2008 and this is due to the considerable loss faced by the company in an unexpected twist in the Mitchells & Butlers story. When entering into a property venture with company R20, both groups were advised by the bank, as part of their loan agreement, to take out hedges against interest rates and inflation. This investment would prevent Mitchells & Butlers from losing as much money as they would have, had they not taken out the hedges in the instance that the market turned against them. The bank also advised the companies to do this, two weeks prior to the investment being made as the hedges could take some time to execute. The hedges were purchased mid July, by the end of July the credit crunch had kicked in and the bank withdrew its credit approved terms. Both companies were left with hedges in place but no investment to back them against. M & B held onto their hedges until January 2008 hoping for an upturn in the market. By January 2008 it had become apparent that this was not going to happen and M&B disposed of them. Using them would have been very risky, especially since finance director Naffah had already been let go. ââ¬Å"At the end of last financial year, an exceptional accounting loss of ? 155m post tax was booked in respect of the hedges. The above settlement of the majority of the hedges results in a further ? 119m post tax exceptional loss which will be taken in the current year,â⬠the company said in a statement. Looking equally bleak is M&Bââ¬â¢s current ratio4 of 0. 888:1 in 2008 and 0. 391:1 in 2007. Many believe that businesses must have a current ratio of at least 2:1 to survive, proving Michells & Butlers as an unorthodox company. Unbelievably it functions with a negative working capital6, this is due mainly to the company keeping stock levels impeccably low and thus giving the acid test a similar result with a quick ratio5 of 0. 794:1 in 2008 and 0. 343:1 in 2007. Most of the stock is perishable, for example food served in their restaurants. A stock turnover7 of 9. 95 days in 2008 and 9. 75 days in 2007 is quite acceptable in the food and beverage sector. Low stock levels keep the business as liquid as possible. This gives the company some leverage when incorporated with the debtors8 and the creditorââ¬â¢s9 turnover which works out in favour of M&Bââ¬â¢s debt structure. Debtors, pay-up within an average of 14. 3days. Contrast this with the creditors who give M&B, on average between the years 2007 and 2008, 66. 4 days of credit. Thatââ¬â¢s nearly five times as long as M&B allow their debtors. Another consideration I wish to highlight concerning the worryingly low current ratio is that for the most part M&Bââ¬â¢s non-current assets are made up of property, plant and equipment. If the company found themselves with cash flow problems these assets could become non-current assets held for sale to help increase the current ratio. Return on Capital employed10 is 20. 18% and 19. 7% in 2008 and 2007 respectively. This is evidence that M&B is still a profitable company contrary to the problems arising in the last two years and are still gaining market share year on year. A three year plan has been put in place to rectify the hedging mishap. Ordinary Shareholders will not receive any dividend pay-outs for the next year three years as well as board members forfeiting their bonuses in a bid to pay off their ? 74m deficit. *How the inclusion of a Cash Flow* helps in the Analysis of the companyââ¬â¢s financial position There are several advantages to preparing a cash flow statement along with the balance sheet and profit and loss account. The cash flow statement provides data which allows the reader to better understand where cash has come from, where cash has moved to, and why. If a company has no cash it cannot pay wages or bills or suppliers. Employers wonââ¬â¢t come to work if you donââ¬â¢t pay them. Energy companies will cut off their supplies, as could the suppliers if the bills are not paid. If this happens the company may not be able to operate. This is why cash flow statements should be taken seriously by managers and done as often as daily if cash flow is tight. The cash flow statement explains where the cash and cash equivalents on the balance sheet come from in greater detail. It takes operating profit and adds back exceptional items, depreciation and amortisation to give us a better understanding of how much cash is to hand, as well increases and decreases in debtors and creditors. In M&Bââ¬â¢s cash flow statement we can see that in 2007 M&B acquired ? m worth of Whitbread Pub Restaurants and made additional pension contributions of? 40m. In the cash flow statement figures can be compared more easily, they also aide preparation of forecasts. In both years a considerable amount of cash is spent on property, plant and equipment. It may be that these assets have not had time to realise their full potential. We can see that M&B has increased its cash and cash equiva lents by ? 12m at the end of 2008 compared to its previous year. Differences between the spread of cash year on year is quite apparent. In 2008 shareholders received ? 480m worth of dividends less than in 2007 as part of M&Bââ¬â¢s three year strategy to eliminate hedging debt amounting to around two years worth of earnings. Conclusion At first glance, the ratios I have calculated show the illusion of a company in the midst of a financial crisis. But Mitchells and Butlers are breaking all the rules and coming out with a profit, succeeding where many competitors are failing, due to the down turn in the alcoholic beverage market and consumer spending overall. The hedging losses have no doubt affected a great deal of critical decision making regarding Mitchells and Butlers finances including investment attractiveness, risk taking and dividend payouts. The high amount of non-current assets is due to the extensive property portfolio which helps diffuse the worrying situation of such a low current and quick ratio. This company is constantly expanding and is year on year gaining market share. It adapts appropriately to its ever changing environment, as it keeps up to date with the economic climate and responds quickly to consumers needs. The ââ¬Ëvalue & volumeââ¬â¢ strategy is working well and the brands are becoming very well established in the UK. Debt payment is accounted for in the long term financial plan and the future looks far from dismal. I see a company trying to be as efficient as possible whilst waiting for the storm to pass. Appendix Gross Profit Ratio Gross profit x 100 Sales (turnover) 2008 ââ¬â 477/ 1908 x100 = 25% 2007 ââ¬â 472 / 1894 x 100 = 24. 9% Net Profit Margin Ratio Net Profit Before Interest & Tax x100 = Sales / Turnover 2008 ââ¬â 179 / 1908 x 100 = 9. 4% 2007 ââ¬â 207 / 1894 x 100 = 10. % Gearing Fixed Income forms of Finance : equity Fixed Income forms of Finance = Borrowings 2755 + Debentures 33 + preference shares 14 =2802 Equity ââ¬â Capital Share 34 + reserves 2008 ââ¬â 2802 : 1175 = 2. 4:1 2007 ââ¬â 2317 + 47 + 14 = 2378 : 1576 = 1. 5:1 Current Ratio Current Assets : Current Liabilities 2008 ââ¬â current assets 253 + non-current assets held for sal e 114 = 367 367:413 = 0. 888:1 2007 ââ¬â current assets 303 + non-current assets held for sale 6 = 309 309:790 = 0. 391:1 Non assets held for sale within the next twelve months Quick Ratio / Acid Test Current Assets ââ¬â stock Current Liabilities 2008 ââ¬â 367 ââ¬â 39 = 328. 328/ 413 = 0. 794:1 309 ââ¬â 38 = 271 271 / 790 = 0. 343:1 Working Capital Days of Inventory /Stock Turnover Stock at the year end x365 Cost of goods sold 2008 ââ¬â 39 / 1431 x 365 = 9. 95 days 2007 ââ¬â 38 / 1422 x 365 = 9. 75 days Debtors Collection Period Debtors Turnover x365 Sales 2008 ââ¬â 80 / 1908 x 365 = 15. 3 days 2007 ââ¬â 69 / 1894 x365 = 13. 3 days an average of 14. 3 days Creditors Payment Period Trade Creditors x365 Cost of Sales 008 ââ¬â 276 / 1431 x 365 = 70. 4 days 2007 ââ¬â 243 / 1422 x 365 = 62. 4 days An average of 66. 4 days Return on Capital Employed Ratio Profit before interest & tax x 100 Capital employed 2008 ââ¬â 179 / 1058 x 100 = 16. 9% 2007 ââ¬â 207 / 1202 x 100 = 17. 2% Profit & Losss Account is profit after tax + any interest paid = 127 + 171 Capital Employed represents Share Capital =Called up shared capita l and share premium account = 34 + 14; the balance on the profit and loss account + 127 + 171 and any other reserve accounts in the balance sheets + 3 + 697 + 12 = 1058 for 2008
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