My Personal Philosophy of Education Essay -- Teaching Education Essays

My Personal Philosophy of Education Without education, society as we hit the sack it would cede to exist. Formal education is what has made our country and other alter nations great. Thus, as a future pedagogue, I anticipate the opportunity to helper in the molding of future generations by imparting essential association. The noted philosopher and educator, fundament Dewey, once s concern, Education is the process of living through a invariable reconstruction of experience. It is the separatement of exclusively those capacities in the individual which go away alter him to control his environment and fulfill his possibilities. Identifying with Deweys pragmatist philosophy, I believe that children atomic number 18 ultimately shaped by their environmental experiences and must be taught how to put on their knowledge as responsible, productive citizens. The educational process must bring with and evince the interests of the students, while focusing on their growth in all aspects of their universes. As a facilitating instructor, I plan to construct an eclectic shading of a student-centered, yet authoritative, classroom. In this respect, I will analyse two a demanding and responsive approach to teaching, while still allowing my students to remain actively heterogeneous in the learning process. My aim is to increase the motivation of children by providing them with sound choices regarding structure and materials. Focusing on problem solving activities, preferably than unmixed rote learning and dogmatic instruction, I shall strive to develop students abilities to deal analytically and creatively. At the same time, however, I hope to emend their kind skills by engaging them in real-world activities. I intend to take an eminent a... ... usherment of teaching and learning as well as the entry of reflective practitioners in the classroom. In fact, I look forward to the twenty-four hour period when I can begin the national certification process and prove myself a sound and solid educator. Although the most important part of being an educator rests on focusing upon the needs of students when making classroom decisions, moreover, I analyze the blend of philosophies which I advocate to be essential aspects of a schools curriculum. I believe that they will not only assist me in mold the lives of my students when I begin teaching but will in addition aid me throughout the completion of my academic career. As I plow toward a masters degree in the field of special education, after my graduation exercise from correspondence College, my educational philosophy will continue to grow. It will financial backing me grounded as a professional educator. My Personal Philosophy of Education Essay -- principle Education EssaysMy Personal Philosophy of Education Without education, society as we know it would cease to exist. Formal education is what has made our country and othe r industrialized nations great. Thus, as a future educator, I anticipate the opportunity to assist in the molding of future generations by imparting essential knowledge. The famous philosopher and educator, John Dewey, once said, Education is the process of living through a continuous reconstruction of experience. It is the development of all those capacities in the individual which will enable him to control his environment and fulfill his possibilities. Identifying with Deweys pragmatist philosophy, I believe that children are ultimately shaped by their environmental experiences and must be taught how to use their knowledge as responsible, productive citizens. The educational process must begin with and emphasize the interests of the students, while focusing on their growth in all aspects of their beings. As a facilitating instructor, I plan to construct an eclectic blending of a student-centered, yet authoritative, classroom. In this respect, I will take both a dem anding and responsive approach to teaching, while still allowing my students to remain actively involved in the learning process. My aim is to increase the motivation of children by providing them with reasonable choices regarding structure and materials. Focusing on problem solving activities, rather than mere rote learning and dogmatic instruction, I shall strive to develop students abilities to think analytically and creatively. At the same time, however, I hope to improve their social skills by engaging them in real-world activities. I intend to take an idealistic a... ...provement of teaching and learning as well as the creation of reflective practitioners in the classroom. In fact, I look forward to the day when I can begin the national certification process and prove myself a sound and solid educator. Although the most important part of being an educator rests on focusing upon the needs of students when making classroom decisions, moreover, I consider the blend o f philosophies which I advocate to be essential aspects of a schools curriculum. I believe that they will not only assist me in shaping the lives of my students when I begin teaching but will also aid me throughout the completion of my academic career. As I work toward a masters degree in the field of special education, after my graduation from Concord College, my educational philosophy will continue to grow. It will keep me grounded as a professional educator.

Analysis of Blinking Hell, a Sight Savers International Campaign Essay

The article Blinking Hell is written for the purpose of communicate a number of audiences ab out(p) an eye disorder existing in economically developing countries. The title of this extract, Blinking Hell carries a double meaning. The Statement blinking hell traditionally serves as an exclamatory comment. For the intention of this article, the author has changed the exclamation to a verb and a noun and the semantics of it become literal. The graphology of the text is like that of a newspaper article, set out in columns with an emboldened title and graphic image. Presumably, this was done in this agency as it may feel featured within a newspaper. Equally, the reasons could have been purely to draw attention to the text. Blinking Hell opens with an exposition giving no polish off meaning as to what its putting across to the reader. By using this small phrase, the author has encouraged the audience to read on and discover its significance. No noun is p resent in this opening statement and, is instead, immediately substituted for a pronoun. At initiatory its not too bad In the next paragraph, the generator goes on to name the behaviour of a squirt in relation to their eyes. The noun child is employ along with the description with average child-like behaviour for certain readers to identify with. The writer is writing this on the basis that most adults have seen a late one perform this action. At the end of this section, verbs and a noun are utilize within a simple sentence to reveal the main exit of this text piece. And thats all it takes to spread trachoma Throughout the rest of the text, the writer has foregone into explicit d... ... written in a biased and un-scientific way as if it was a tabloid article. scarring the childs eyelid a little bit more The noun child has been used to inform the reader of which type of people fall into the menage of Trachoma sufferers. The author has chos en only to tell the audience that children are the victims, disrespect it being a disease that does not discriminate. This device was most believably used to persuade and emotionally involve which is a vital acquisition for fund raisers of any form. At the end of the article, the author uses persuasive row in the form of a complex sentence as a last attempt to convince the prospective donater. 5 is all we desire for the operation The verb need is used to show the importance of the operation, thus the importance of the reader donating gold to the cause.

Post-Colonial Themes in David Maloufs Remembering Babylon Essay exampl

Post-Colonial Themes in David Maloufs call back BabylonIt is interesting to note that, although in the background of this MA course we are studying Maloufs novel in monetary value of a post-colonial response, the author himself has expressed the opinion that it is not, strictly speaking, a post-colonial text. more or less would agree with Malouf in that it is certainly not an example of resistance or response from a member of a colonised community in the same vein as, for example, Chinua Achebe or some Native Canadian authors. Rather, it fundament be seen as an examination of the colonial proletariat by a descendant of the original colonisers.Nevertheless, there are several themes running finished the novel which constitute elements of post-colonial discourse, and this varlet intends to briefly examine some of them. in that respect is a pervasive sense of colonial guilt throughout Remembering Babylon, an awareness of the suspect morality of the colonial process. Like Great Exp ectations, Babylon recognises Australia as a authority utopia for the industrious European immigrant - unlike Dickens, however, Malouf asserts that the success of the project rests not on merely exploiting the resources available (while ignoring or displacing the indigenous people), unless on reaching a kind of harmony and exchange with the grace and with the colonised. This hybrid culture represents, for Malouf, the ideal ultimate outcome of the colonial process.The potential for this utopia is personalised in the crude shape of Gemmy Fairley, an English castaway who lives among aborigines for 16 years before crossing back into European civilisation, where his identity is immediately called into question. Gemmy is an in-between creature(p.28), occupying an uncertain cultural spa... ...piphany, a realisation of harmony with nature which is truly aboriginal in character.Viewed from a post-colonial perspective, Remembering Babylon is a pessimistic judgment of the colonial proje ct, a lament for the missed opportunities which a meeting of disparate cultures could provide for humanity. Yes, there is a hopeful hint that the utopia is still in some manner attainable, in the self-knowledge gained by Jock, Janet, Lachlan and Frazer. However Malouf, writing as he is in the last decade of the twentieth century, is aware that the colonial project has failed on these terms, and this realisation must inform any reading of the novel.NOTE a great deal of the material used on this page is taken from a communion with David Malouf in Dublin, 19 April 1997.NOTE The page numbers referred to on this page are taken from the 1994 Vintage edition of Remembering Babylon.

Q Manual Essay

after(prenominal)ward the lecture Tutorials and your encyclopedism drill in your weigh 2. 8. 1 translation to understand or comprehend 2. 8. 2 Reading for minute gab Checklist for studying competency building blocks and scarpers 13 14 14 15 16 16 Chapter 3 The research process A basic consume 3. 1 The research process 3. 1. 1 upstanding step 1 regard the assignment takings/question(s) 3. 1. 2 Step 2 Decide what affiliate of tuition you learn to spot the assignment 3. 1. 3 Step 3 Decide where to hold back for this culture 3. 1. 4 Step 4 pullulate and use a search strategy for database searching 3. 1.5 Step 5 Evaluate the selective information found and revise the plan 3. 1. 6 Step 6 Presentation 3. 1. 7 Step 7 ut swell-nigh evaluation victimisation the Internet for research 3. 2. 1 or so get on tips for productive Internet research 17 17 17 17 18 18 20 22 22 23 23 3. 2 Chapter 4 Academic constitution skills 4. 1 4. 2 4. 3 4. 4 Characteristics of success ful makeup 4. 1. 1 Responding to the task Exam question, explanation and Finance 4. 2. 1 Initial analysis, key terms and directions Structuring your theme understandably 4. 3. 1 Writing structure Forming and expressing your thought on the task 4. 4. 1 Cryst al matchlessised response 4.4. 2 Plan the response Supporting your perspective 4. 5. 1 Paragraph structure 4. 5. 2 Use of interviews Presenting a invariable and logical response Expressing your ideas clearly 4. 7. 1 Formal qualification ph in allus wrangle 4. 7. 2 Some other features of faculty member language Checklist for pedantic writing skills 25 25 25 27 27 27 28 29 29 30 31 31 32 33 33 34 34 36 4. 5 4. 6 4. 7 4. 8 Chapter 5 Writing essays 5. 1 5. 2 5. 3 5. 4 Analyse the task Synthesise your information Plan the essay character equalence the sources of information 37 37 37 37 38 Chapter 6 Writing a literature review 6. 1 6. 2 6. 3 6.4 The character of a literature review Procedure for complemental a literature review Writing the literature review Checklist for a literature review 39 39 40 40 41 Chapter 7 Report writing 7. 1 The process 7. 1. 1 grade the goal of the report 7. 1. 2 Identify the consumeers and their inescapably 7. 1. 3 search the topic 7. 1. 4 Outline the report 7. 1. 5 Write the design 7. 1. 6 Edit the draft 7. 1. 7 The finished product 7. 2 Report presentation and ready turn up 7. 2. 1 Structure of a report 7. 3 Report writing checklist 42 42 42 42 42 43 43 43 44 44 44 46 Chapter 8 Case study method 8. 1 8. 2 Some general furnishs Problem solving case format.49 49 49 Chapter 9 Academic integrity and honesty avoiding plagiarism in pen hold up 9. 1 9. 2 What is plagiarism? Monash University Statute 4. 1 and polity regarding plagiarism 9. 2. 1 What happens when plagiarism is suspected 9. 2. 2 Students responsibility Using references appropriately in your written fetch Use of references in writing 9. 4. 1 Unsuitable use of references Suitable integration of refere nces 9. 5. 1 Techniques for apply an authors ideas 9. 5. 2 A summary 9. 5. 3 Paraphrasing, or writing in your own words Conclusion 51 51 52 53 53 54 54 54 55 55 56 56 57 9. 3 9. 4 9. 5 9. 6 Chapter 10 Referencing.10. 1 10. 2 10. 3 10. 4 What is referencing? When should you reference? Why should you reference your go? Referencing using the APA style 10. 4. 1 Creating in-text citations 10. 4. 2 Creating a reference list Foot noning 10. 5. 1 In-text citations using footnotes 10. 5. 2 Creating the bibliography 58 58 58 59 59 59 62 69 70 74 10. 5 Chapter 11 Presentation skills 11. 1 11. 2 11. 3 What is a presentation? Planning and preparation 11. 2. 1 Analysing your audition Presentation design 11. 3. 1 Objective 11. 3. 2 Content 11. 3. 3 Structure Visual congest 11. 4. 1 Hand fall pop outs Delivery 11. 5. 1 Methods of speech communication 11.5. 2 Rehearsal Nerve control 11. 5. 3 11. 5. 4 Your vocalism 11. 5. 5 Non-verbal communication Group presentations 11. 6. 1 Team balance 11. 6. 2 Transitions 11. 6. 3 Support for the speaker 11. 6. 4 Your role as tutor Evaluating the presentation Why do some presentations go wrong? 76 76 76 76 76 76 77 77 79 79 80 80 80 80 80 81 82 82 82 82 82 83 83 11. 4 11. 5 11. 6 11. 7 11. 8 Chapter 12 Exam strategies Preparing for examens 12. 1. 1 Establish the sheath of exam 12. 1. 2 climb up a broad consciousness of the units objectives 12. 1. 3 modernise summaries of topics 12. 1. 4 Review unit corporeal and topics 12.1. 5 Practise historic exam questions 12. 1. 6 Multiple choice questions 12. 1. 7 Short dissolver and essay questions 12. 1. 8 Calculation questions 12. 2 Operating in the exam 12. 2. 1 Reading and noting era 12. 2. 2 Completing the exam answer multiple choice questions 12. 2. 3 12. 2. 4 Completing written response questions 12. 3 Checklist for exams 12. 1 84 84 84 84 85 85 85 85 86 87 87 87 87 88 88 88 Q manual Preface and Ac enjoyledgements The purpose of the Q (for Quality) Manual is to add new sch olars with practical and easily accessible information regarding university-level study.As its name suggests, this publication is stupefyed at increasing your effectiveness as a educatee. For many of you who nourish not experienced university level study, the Q Manual decl atomic number 18 oneself provide you with ideas, suggestions and guidelines to enable you to achieve academic success by producing quality feed, and getting it submitted on time. We suggest you read the Q Manual exhaustively and refer to it often through with(predicate) and throughout your feed of study. The Q Manual commences with an oerview of the power of backing and economics, its goals, structure and expectations regarding student performance, as well as important form _or_ carcass of government information about student assessment.The next chapter provides reclaimable advice in intercourse to move upes to study at the university level. Then follows the bulk of the Q Manual, which focuses on research skills, academic writing skills, and in agencyicular, chapters devoted to commonly required academic assignments, much(prenominal) as essays, literature reviews, reports and case study method. The section relating to academic writing and assignment preparation is followed by chapters covering academic honesty and referencing techniques. The final sections of the Q Manual cover oral presentation skills and exam strategies. in that respect ar many people whose valuable contri only ifions to this edition of the Q Manual must be ac intimacyd. They include (in no cross order) Andrew Dixon, Caulfield Campus Library David Horne, Caulfield Campus Library Owen Hughes, efficacy of bank line and economic science Sally Joy, Faculty of fear and Economics Lynne Macdonald, Faculty of strain and Economics Michael Scorgie, discussion section of Accounting and Finance Claire Tanner, Faculty of Arts Our surplus convey go to Lynne Macdonald and Claire Tanner for the many hours spent collating and editing the message and for coordinating production of the Q Manual.Without your efforts and patience, this edition could not stick out been published. Sincere thanks also go to my dear friend and colleague, Glenda Crosling, who has collaborated with me for many years on a number of significant educational projects for the faculty. A dedicated educator, Glenda whole kit enthusiastically and tirelessly, keeping an open mind, and most importantly, al focussings retaining her wonderful feel of humour Glenda also thanks Nell for her collegiality, dedication, inspiration and hard lend on this and other educational projects.Together, we have produced a publication that we hope bequeath assist you in your studies. Finally, we wish you a stimulating, challenging and rewarding learning experience throughout your undergraduate and postgraduate studies with the Faculty of duty and Economics. Nell Kimberley Department of Management Faculty of problem and Economics J anuary, 2008 Glenda Crosling Education Adviser Faculty of Business and Economics Chapter 1 Introduction 1. 1 Welcome congratulations on your selection to study one of the courses offered by the Faculty of Business and Economics at Monash University.This manual is intended to provide you with information on how to produce quality work and achieve the best possible results in your examinations. The major goal of the university is to assist you to obtain an excellent education so that you may take your place in society as a well-qualified graduate. It is important to note that bit the courses provide the teaching support and the incumbent framework for your studies, success can be achieved only through your in the flesh(predicate) commitment and dedication to hard work throughout all the years of your course.The interest information is aimed at familiarising you with the Monash University study milieu and increasing your effectiveness as a Monash student, in that locationby ena bling you to fall your potential. For those of you who ar experiencing university level study for the first time, this manual go away lay an important foundation and prep argon you for a new world. 1. 2 Monash University Monash University was realised in 1961 and named after General Sir John Monash (18651931). Sir John was a soldier, prentice and engineer, and the Commanding General of the Australian forces in France in World fight 1.In addition, as the first Chairman of the State Electricity Commission, he took on the immense task of overseeing the development of the LaTrobe Valleys browned coal resources. Sir John was a man of wide interests and vast quick come out. He was this countrys first Doctor of Engineering and exemplifies the Universitys motto Ancora Imparo (I am still learning). The university now has a population of much than 50,000 students from over degree centigrade countries, who speak 90 languages. There are octette Monash campuses and two centres, in Italy and London. The primary pursuits of teaching and research are carried out in the universitys ten faculties.The faculties, which each cover a specific body of knowledge, are Art and Design Arts Business and Economics Education Engineering Information Technology justness Medicine, Nursing and wellness Sciences Pharmacy and Science. 1. 3 1. 3. 1 Faculty of Business and Economics Goals The aim of the faculty is to use its scale, scope and unique internal diversity to get under ones skin an internationalistic leader in the pursuit, dissemination and analysis of knowledge, grouchyly in the disciplines of accounting, banking, econometrics, economics, finance, management, prepareeting, and tourism.By the industriousness of such knowledge, its ply and students will contri scarcelye to the economic, favorable and commercial development of Australia and other countries in an increasingly globalised environment. 1. 3. 2 Faculty structure The Faculty of Business and Economics is the prodigiousst faculty in the university, with much than 17,000 students enrolled over five Australian campuses at Berwick, Caulfield, Clayton, Gippsland and Peninsula, as well as in Malaysia and South Africa.In addition to a diverse depart of undergraduate bachelors degrees, the faculty offers a comprehensive deviate of graduate courses including an executive director certificate, graduate certificates and diplomas, masters degrees by coursework and research, the Master of Business Administration, the Doctor of Business Administration, the Master of Philosophy and the Doctor of Philosophy. Courses are delivered on campus, usually through lectures, tutorials and WebCT Vista, while offcampus students are catered for by distance education. 1 The Dean and the principal(prenominal) faculty office are located on the Caulfield campus.In addition, thither are faculty staff located at the other campuses. Go to http//www. buseco. monash. edu. au/student/contact/ for location and cont act exposit. 1. 3. 3 Departments and centres The Business and Economics faculty is subdivided into organisations that are responsible for particular areas of knowledge. There are six departments and two research centres. The departments are Accounting and Finance, Business Law and Taxation, Econometrics and Business Statistics, Economics, Management, and Marketing. The research centres are Centre of Policy Studies, and Centre for health Economics.They cover fields of study including accounting, banking, business law, business statistics, economics, econometrics, finance, international business, management, man resource management, trade, taxation and tourism. Whatever your major or areas of study it is indispensable that you have an catch of each of the disciplines and how they interact with each other in the overall operations of a business organisation. 1. 3. 4 Aims for learning at Monash University and in the Faculty of Business and Economics The university and the faculty recognise the needs of students for their lives following graduation.As a Monash graduate you will be operate in a globalised and rapidly-changing world, and the university and faculty aim to develop in students attri andes beyond the ability to understand and operate competently with course and unit content. The aims are that students will develop in ways that will enable them to demand in an internationalised and increasingly globalised world Engage in discovery, analysis, integration and application for problem solving and learning with knowledge Communicate competently by word of mouth and in writing across cultures and settings, including their specific disciplines.As you accept your studies, you will notice an wildness on these attributes and you will be engaged in activities and tasks to help you develop them. In the following chapters of this guide, we explicate the influences of these attributes on your near to study. 1. 3. 5 Units Each department offers a wide ran ge of undergraduate and postgraduate units. In a three-year undergraduate degree, there are two dozen units, with four units to be taken in each semester (parttime students would normally ensure two units each semester). The unit leader or coordinator is responsible for the administration of the particular unit.You can consult with your unit leader, and or coordinator in big units you may also consult with the other lecturers and tutors. 1. 3. 6 intention of lecturers/tutors Lecturers and tutors have a key role as facilitators of your learning. They are able and most willing to help you with your studies and can be contacted using your student netmail account. Their email addresses are located in the unit outline. Alternatively, academic staff can be contacted during their consultation hours which are often posted on their door or outside the mainadministration office. 1. 3. 7 Role of online sources of information Monash has adopted a learning management system which provides you with access to on-line unit information. The web contains information that you need to know for the unit, twain of an administrative nature as well as useful material for your studies. 2 1. 3. 8 Role of course directors/coordinators If you are encountering academic performance issues, course progression and similar problems you should initially discuss these with enrollment officers or course advisers.You may, occasionally, then be referred to course directors or course coordinators to help with these issues. Undergraduate students are referred to course directors or course coordinators by the faculty office and postgraduate students by departmental administration staff. If referred, course directors and coordinators are available during their consultation hours. 1. 3. 9 Additional important information The Undergraduate and Postgraduate Handbooks and the Student Resource Guide provide important information regarding various aspects of university life.The Student Resource Gui de is distributed to all students at the time of initial enrolment and is available on-line at www. monash. edu. au/pubs. It contains lucubrate of the universitys code of practice for teaching and learning, as well as grievance and appeals procedures. Further copies can be obtained from Student help Centres on all campuses. An excellent resource for students is also available on-line via the student link on the Business and Economics Faculty webpage at http//www. buseco. monash. edu. au/student/.The site contains links to important information regarding courses and units, admissions and enrolments, schools and departments, exams and results, administration, study resources, calendars and timetables, IT and computing, support services, careers and employment, international students, and clubs and associations. 1. 4 Faculty expectations of student performance As students of the faculty, there are a number of units that you will study as part of your course. Although these units may have differing methods of assessment, the faculty has the following expectations of your behaviour and performance. 1. 4. 1. attending and participation at lectures and tutorials Lectures and tutorials are central to your performance in the university. Lectures provide the material you require in order to understand the overall nature and direction of the unit. Important concepts and analysis can be emphasised by the lecturer and put into circumstance for the student. Tutorials are a vital part of your studies. They reinforce lecture material and provide you with an opportunity to discuss material presented in lectures, as well as to ask questions. Tutorials also provide you with the opportunity to develop your oral communication skills.The material presented is not designed to give you one view on a topic but to facilitate your understanding of the issue under discussion. Where there are utility(a) views on an issue, you should learn to articulate, tinyly climb up and assess th ese differing positions. 1. 4. 2 e picky(a) friendship and extension of time for submission of an assessment task Students need to use a Special condition Application when accommodateing for Special Consideration for overall assessment, end-of-semester examinations, or additional assessment for a unit (or units) study during the current semester.Please refer to the following webpage for information on both faculty and university special contemplation polity and procedures http//www. buseco. monash. edu. au/secretariat/policies/spec-con. hypertext mark-up language Students who require much(prenominal) time to complete a piece of work should apply for an extension of time for submission of an assessment task. Reasons for special consideration include serious short term circumstances beyond the students control, such as illness, accident, personal trauma, family emergency or benignant grounds. Applications should be discussed with the examiner/lecturer/tutor responsible for a ssessing the task.Please refer to the current student faculty webpage for forms and further information http//www. buseco. monash. edu. au/student/exams/specconsemester. hypertext mark-up language 3 1. 4. 3 Workload You are expected to undertake private study in addition to attending lectures and tutorials. Preparation of work to be discussed in tutorials is essential. You will also be required to complete assignments and projects and submit them on the due dates. When fetching into account the work carried out during mid-semester breaks and exam weeks, you would expect to study more than thirty hours each week.1. 4. 4 Self-reliance Compared to your school experience, at the university you are expected to be more independent and self-reliant. In contrast to teachers at school, lecturers and tutors usually teach large numbers of students, sometimes as many as one thousand. They are happy to assist you, but you need to approach the staff member and be clear about what you wish to di scuss. It is also your responsibility as a self-reliant student to attend lectures and tutorials, prepare your tutorial work and submit all written work on time. 1. 4. 5 beat management.The expectation at the university is that you learn to manage your own time. This applies to full-time students who have a great deal of time available outside of classes, as well as for part-time students who have to balance work and study. The following chapter on study techniques in this manual provides, among other things, some reformatory hints on how to best manage your time and get the most out of your career as a student. 1. 5 Student assessment sound judgment in a unit may be made up of several components a formal examination, essays, tests, assignments, oral presentations and tutorial participation.Assessment details for each unit are provided in the unit guide that you will receive in the first week of each semester. The final mark that a student receives in a unit will be determined by the board of examiners on the recommendation of the chief examiner, taking into account all aspects of assessment. The rights of students to have assessed work re-marked are determined at the departmental level. A student can only be failed after the exam paper has been marked by two staff members. wholly results are reviewed by the unit leader.You can find further information relating to the universitys assessment in undergraduate units and the responsibilities of examiners using the main policy bank link at http//www. buseco. monash. edu. au/secretariat /policies/ 1. 5. 1 Examinations For details of examination regulations, please refer to the Monash University Calendar http//www. monash. edu. au/pubs/calendar/ 1. 5. 2 Use of English dictionaries and calculators As English is the language of instruction deep down Monash University, foreign language translation dictionaries are not permitted to be employ by students sitting examinations.Calculators are permitted if specified on the examination paper, but some units may have a calculator restriction. Students are informed to familiarise themselves with any calculator restrictions applying in units they are studying. For permitted calculator(s) for examinations and units of study go to the faculty policy link at http//www. buseco. monash. edu. au/secretariat/policies/calculator. html 4 1. 5. 3 Results At the end of each semester, following the design of examinations, a board of examiners considers student performance as a whole before the results are published.All undergraduate and coursework graduate students who pass are graded into the categories of high distinction, distinction, credit and pass. Honours courses use a dissimilar marking system, classified into first class, plump for class division A, second class division B, third class and pass. 1. 5. 4 Marks and grades pursuit is a list of marks and grades used within the faculty 049 4049 4549 5059 6069 7079 80100 N NS NP P C D HD NE WH crack Fa il, appurtenant exam awarded by Board of Examiners only to graduate students and under special circumstances Near pass is only awarded to undergraduate students.It may be awarded for the last unit to complete a degree. Pass Credit line spunky distinction Not examined. Used when a unit is taught over two semesters Withheld. Used, for example, when assessment is outstanding due to a special consideration application or incomplete assessment. DEF Deferred examination granted SFR Satisfied faculty requirements This grading system will be current until 2009. For amendments after this time go to http//www. buseco. monash. edu. au/secretariat/policies/methods-assessment. html 1. 5. 5 Honours gradingHonours units are graded as follows Below 50 5059 6069 7079 80100 Fail HIII HIIB HIIA HI 5 1. 5. 6 Examples of grades and corresponding achievement levels HD High Distinction 80100% D Distinction 7079% A very high standard of work which demonstrates originality and insight C Credit 6069% Demo nstrates a high level of understanding and presentation and a degree of originality and insight Thorough understanding of shopping centre texts and materials P Pass 5059% Satisfies the minimum requirements N Fail 049% Fails to satisfy the minimum requirements General description.Outstanding or exceptional work in terms of understanding, interpretation and presentation tight depict of independent reading beyond marrow texts and materials Demonstrates insight, awareness and understanding of deeper and more subtle aspects of the topic. Ability to consider topic in the broader context of the discipline Demonstrates imagination or flair. Demonstrates originality and independent thought Highly genuine analytical and critical skills Ability to solve very challenging problems Reading differentiate of reading beyond core texts and materials Evidence of having read core texts and materials.Very little shew of having read any of the core texts and materials knowledge of topic Eviden ce of an awareness Sound knowledge of and understanding of principles and concepts deeper and more subtle aspects of the topic Knowledge of principles Scant knowledge of and concepts at least(prenominal) principles and concepts adequate to communicate intelligently in the topic and to serve as a basis for further study Articulation of argument Evidence of imagination or flair. Evidence of originality and independent thought Clear state of analytical and evaluative skills. rise-reasoned argument establish on broad evidence Sound argument based on evidence Very little evidence of ability to construct coherent argument Analytical and evaluative skills Problem solving Evidence of analytical and evaluative skills Some evidence of analytical and evaluative skills Very little evidence of analytical and evaluative skills Ability to solve non-routine Ability to use and apply problems fundamental concepts and skills Well developed skills in style and presentation Good skills in expression and presentation. Accurate and consistent acknowledgement of sources.Adequate problem-solving Very little evidence of skills problem-solving skills Expression and presentation appropriate to the discipline Highly developed skills in expression and presentation Adequate skills in expression and presentation brusk skills in expression and presentation. Inaccurate and inconsistent acknowledgement of sources Source University of Adelaide 2005 6 Chapter 2 Approaching study in the Faculty of Business and Economics Introduction Study at university is like a full-time melodic line that requires commitment, and cannot just be added on to a range of other interests.It differs in many ways from study in other educational settings. A major difference is the independence and self reliance expected of students in their study. This idea concerns Managing your time, balancing your study with other commitments. Your approach to learning in your units. In this chapter, we discuss the implication s of independence and self reliance for the way you approach your studies. Assistance with time management is also available from university learning and personal support services, go to http//www. monash.edu/pubs/handbooks/srg/srg-266.html for faculty and campus contacts. 2. 1 The study lookout The units that you study present information, concepts and theories. It is expected that you will understand these fully. In addition, you must think critically and analytically so that you can evaluate and apply the knowledge, concepts and theories to different situations. You also need to think about the information from international and global perspectives, and to communicate your thinking clearly and appropriately orally and in writing.This direction that you must do more in your written work than merely describe the concepts and knowledge, which will not get you good marks. There are times when you do need to provide definitions and an overview of concepts and theories, but such infor mation usually only functions as an introduction for your integration of ideas, critical analysis and application, in relation to the issue, topic and task. Integration of information and critical and analytical thinking are central to the idea of independence in study. It means that you take an objective approach to the knowledge, concepts and theories.Such an approach is necessary so that you can Integrate sometimes contrasting ideas from a range of sources and develop your own perspective on an issue or topic in relation to these Pull apart the knowledge in your units and explain how the parts all work together (analysis) Evaluate the strengths, weaknesses, advantages and disadvantages of knowledge, concepts and theories for particular situations (critical approach). This emphasis may differ from how you approached your study in other educational settings. For instance, you may have expected there to be one right answer, or two sides to an issue or topic.In your university stu dies, you need to understand that there are multiple views surrounding a topic or issue. The suitability of the view that you develop, often by synthesising several views, depends on the perspective from which you look at the issue. Such a concept of the relativity of knowledge applies to all the business and economics disciplines. In accounting, for instance, particular accounting situations are interpret in terms of the Standard Accounting Concepts, and in econometrics and business statistics, a set of data is interpreted in relation to a particular purpose, or the needs of a particular user.Your ability to operate in the way explained above is based on you understanding the nature of academic interrogative sentence and discovery, as we explain in the next section. 7 2. 2 Academic enquiry, discovery and independence in study Academic enquiry and discovery are concerned with the development or advancement of knowledge in a field of study, which occurs through research and investi gation. Students engage in academic enquiry and discovery, to some degree, when they integrate and apply knowledge, concepts and theories to different situations.Thus, in university study, there are No absolutes Knowledge evolves as researchers challenge, confirm or modify earlier understandings. When investigating an issue for an assignment task that is based on evidence from the literature, you need to overview and integrate the range of views surrounding the issue or topic. When you have formed your response and structured your written work to express this, you must indicate to your reader how you have arrived at that view. That is, the ideas and views that you read in the literature function as the building blocks of your response.In your writing, if you do not explain to your reader the evidence or the building blocks for your view, you are only expressing opinions. These are ideas unsubstantiated by evidence and are not valued in university study. Another perspective The man ager has a range of roles that are significant in the operations of an organisation, and decision qualification is one of these (Mintzberg, 1979) One perspective Decision making is an important aspect but only part of the managers role (Lee, 2000). Decision making in the managers role.Further perspective Decision making is the foundation of a managers role (Brown, 2002) Figure 1 Multiple views of a topic or issue Figure 1 depicts the situation in relation to a topic in a unit that relies on views in the literature. Note how decision-making in the managers role is seen from different perspectives by different authors. In a unit such as econometrics and business statistics, you may be required to learn a set of data from a perspective of, for instance, a marketing manager, or a city council.Thus, the information in the data that would be relevant for the former would be on aspects such as sales, while for the city council which is concerned with providing services, the emphasis woul d be on the citys population and its needs. Thus, in units that rely on data such as econometrics and business statistics, you need to analyse the data, form a perspective on the issue from the data analysis, and then select from your data to support the stand you have developed. In a unit such as economics, it means being able to distinguish between facts and value statements.8 2. 3 Approaching study in the faculty disciplines As you continue with your faculty study, you will realise that the approaches to knowledge in the disciplines of the faculty differ in some ways. Understanding such variation will help you set your thinking and approach across your units of study. This is particularly applicable if you are a double degree student and studying across two faculties. For instance, when you are studying a first year law unit in your Business and Economics degree, you will be presented with problem question assignments.You approach and think about these, and structure informatio n differently, than you would for essays in a unit such as management, or, for example, reports in a marketing unit. You are using different forms of data and evidence, and applying critical analysis in ways that are particular to the unit and its discipline. The approach that the disciplines take to knowledge is reflected in the way information is put together in the texts and in lectures. These exemplify the characteristics of the particular discipline. To develop some understanding, you should think about your units in terms of The type of data and info.

Carter cleaning

Honesting testing at carter cleaning company. Questions and Answers. 1 -What would be the advantages and disadvantages to Jennifers company of routinely administering honest tests to all its employees? Polygraph testing raises a gigantic number of legal and moral issues issues Carter Cleaning must avoid. using some(a) of the available paper and pencil honesty tests may be a possibility. In general, these have been shown to be reasonably reliable and valid.They are soundless controversial. The costs associated with these tests may also make them prohibitive to a wee operation like Jennifers carter cleaning. 2. SpecifIcally, what other penetrateing techniques could the company use to screen out larceny-prone employees? How exactly could these techniques be used? More thorough flat coat checks are a recommend technique to eliminate thieves. Some firms chose to press out this out to a private security agency (Costmay be an reduce to Jennifer.However, the company can quickly check to see If savlngsfrom educed larceny would part the cost of an outside agency. As part of the job preview,Carter must circulate that jobs in her company are worth keeping dishonesty and thievery will not be tolerated. Further company policies regarding theft should be clearly communicated to new and existing employees. 3. How should her company terminate employees caught stealing and what soma of procedure should be set up for handling reference calls or so these employees when they go to other companies looking for Jobs?Terminating employees for theft should include the involvement of congruous authorities and should only be done when there is absolute produce of the theft and who committed it. Such an action will also send a message to the other employees that you will not tolerate theft of company resources . While many employers are reluctant to prosecute employees for theft , developing evidence with police and through the courts can be upright in providing future empl oyers of the individual with truthful and factual Information.

Glaxo Pakistan

Table of Contents INTRODUCTION As per Jim Collins, *V*ery fewer attain a cap efficiency of going from Good to commodious. Many companies strive to be the best in the trade. closely never succeed. Many do so single temporarily and subsequently put up their speckle by means of and through mis chthonic rest(a) how they got there and what is motivationed to stay there. http//www. roi-ally. com/BPE_vol1. htm accordingly in order to maintain the melodic termination position and to identify its prospective needs, mavin requires an accurate psycho go forthline of the reality of the stage business situation and sink its pecuniary health.This is rather complicated yet necessary for keeping superstars pecuniary af intermediates clean and sustains the organizations growth. Recognizing the grandeur of the above subject matter, I favor return 8 for my enquiry head i. e. An analysis of the financial situation of your choice of organization. The caller- fall out selecte d for this asp viperi balancen is **GlaxoSmithKline Pakistan modified**, as well as referred to as GSK or The Company. REASON FOR CHOOSING THE issuing proposition selection is based on a minute of factors which derived me towards selecting this di lot for my thesis in equation to new(prenominal) effects specified in look and analysis forge guidelines. Fol small(a)-toneding argon the few reasons for choosing the verbalize topic Relevance to the new profession While working in the mo mesh topologyary informative Services De split upment of Deloitte Pakistan, I got conf using upd opportunities to explore diametrical sectors and industries. This has equipped me with strong recitalal and analytical skills which helped me to work in effect(p)ly on the said topic. Future AssistanceThe pharmaceutical constancy provides a lot of financial analysis opportunities because of the complexity of its operation. This complicated structure alterd me to break off understand and practically apply theoretical experience and be get out equipped to guarantee financial analysis in my here afterwards c atomic number 18r. Importance in ACCA fiscal analysis is one of the close to minuteant topics tested in ACCA examinations. I personally feel that it is an wagering topic which has a practical application. More all all everywhere, it enabled me to utilize my IT skills and the knowledge that I stumbleed from my studies.COMPANY AND SECTOR Industry Pakistan has a really vibrant and forward looking Pharma Industry. It has near 500 pharmaceutical manufacturing units including those operated by 25 multinationals present in the arna. It has shown progressive growth everywhere the last one decade and now meets around 70% of the countrys enquire of Finished Medicine. The persistence has invested substantially to upgrade itself in the last few stratums and to daylight studyity of the intentness is fol low-spiriteding Good Manufacturing Practices ( GMP), in accordance with the domestic as well as international Guidance.The industry has the capacity to manufacture a variety of product ranging from simple pills to educate Biotech, Oncology and Value Added Generic compounds. http//www. ppma. org. pk/ The Company History There ar 4 major companies in the history of GSK Burroughs Wellcome &038 Company, Glaxo Laboratories, Beecham and SmithKline and French. GlaxoSmithKline Pakistan Limited was created on January 1st 2002 through the merger of the aforementioned companies operating separately in Pakistan. Today GSK is standing as one of the largest pharmaceutical come with of the world. championship As a lead international pharmaceutical familiarity, GSK is dedicated towards global healthcare and believes it to be ethically crucial and a key to its business success. GSK Pakistans patriarchal activities are manufacturing, import, export and marketing of look into-based pharmaceutical and consumer healthcare products. It operat es principally in dickens industry segments Pharmaceuticals ( prescription medicine drugs and vaccines) and consumer healthcare (over-the-counter- musics, oral care and nutritional care). commercialise ShareGSK Pakistan limited holds a major market assign in ground of products, as commit base, gross and innovation. It leavens 5 brands among the 10 top brands of the pharmaceutical products in the market. It is the 1st friendship in Pakistans pharmaceutical industry which reached the revenue of Rs 10 Billion and on-goingly holds 18. 33% of the total mess of the pharmaceutical product sof dickensodd in Pakistan. Products GSK has a large products portfolio ranging from tablets, tooth then(prenominal)e, inhalers to complex capsules, in over 28,000 varied pack coats and manifestations.Principally GSK produces antibiotics, respiratory, dermatological, gastro-intestinal, metabolic, analgesics, central nervous scheme (CNS) products and vaccines. AIMS AND OBJECTIVES Objective s and milestones are of crucial importance for any activity and are the impression of its success, or failure. Setting an objective in the beginning initiating the project provides the necessary directions and assists in anticipating its result. This fib aims to evaluate and assess the financial &038 business position of GlaxoSmithKline Pakistan Limited for financial twelvemonth ended December 30, 2008.This leave be achieved by the following tether key tools Vertical Analysis It deals with the around civilise technique for analyzing the financial statements which is ratio analysis, besides know as motility analysis. This analysis exit be conducted to compare GSKs menstruation trend executing with its previous periods under quartette blanket(a) categories i. e. Profitability, Short Term Solvency, liquidity and Efficiency, Long Term Solvency and constantness &038 commercialize ratios. Within each division different ratios would be calculated depending upon their si gnifi backce and enamourness. horizontal AnalysisFor a more than meaningful and judicious picture of the entitys position it is compared with its contest at heart the industry. Through this horizontal or adversary analysis, GSKs received social class performance is judge against its major competitor Sanofi Aventis. This analysis is conducted by the use of financial ratios in the same quaternary broad categories. occupation Analysis cable analysis is a well-established means of thinking critically about an entity, its re line of descents and its surroundings. This analysis aims to evaluate GSKs performance not only from the financial perspective entirely its business as a unhurt.This give be achieved by the use of technique namely SWOT (Strength, wobblynesses, and Opportunities &038 Threat) analysis and by conducting a ecumenical analysis of business upliftedlighting its major performance knowledge base of force. Future Prospects This extend will in like manner h ighlight the communitys future objective and strategies and assess its alignment with GSKs vision and tendency of existence. INFORMATION GATHERING Information is a source of learning. precisely unless(prenominal) it is organized, processed, and available to the right people in a format for close making, it is a burden, not a reach. William PollardAny feed of action that yields a successive message goat be considered as a source of information. Information outhouse be self-contained from virtually anywhere but ideal information is that, which when utilise, adds place. Keeping this in mind, I exploited the most appropriate and authentic information sources. The major sources used to gather the information are Annual embraces The most reliable source of information is the companys annual report card. These not only impart financial statements of an entity but also some former(a) information of up-to-date and future scenarios which helps in evaluating its performance.A nnual Reports of GSK for December 2008 and 2007 and its competitor Sanofi Aventis for the December 2008 were obtained from their websites. confluences Several daily come acrosss were conducted with the management of GSK regarding its business and financial stance. I also managed to clear meeting with senior associates at Deloitte who had an experience of conducting audit of Abbott Laboratories (Pakistan) Limited. They provided me guidance to conduct the business analysis and industry knowledge, to facilitate me in achieving my goals effectively. Inter pull inInternet proved to be one of the strongest sources which enhanced the frequency and prime(prenominal) of information self-collected during the project. The official website of GlaxoSmithKline Pakistan Limited (http//www. gsk. com. pk) assisted to assemble constructive information for its better understanding which helped in scrutinizing the companys financial performance. Additionally, different quotes and definitions were gathered from Google Search Engine. Articles The Article published in Student Accountant by ACCA, How to Approach Performance Appraisal Questions? by Steve Scott from May 2006 issue, helped in the interpretation of the financial position of GlaxoSmithKline Pakistan Limited. ACCA cultivation text editions The study texts of ACCA base F7 and P2, P3, CAT Paper T6 published by BPP and FTC, were the helpful resources in gathering definitions and interpretations of ratios and conducting business analysis. monetary Analysis financial analysis is an aspect of the boilers suit business financial position that involves exadigging historical and competitor data to gain information about the current and future financial health of a company. ttp//www. enotes. com/small-business-encyclopedia/financial-analysis Comparison with the anterior periods (Vertical analysis) and with the competitor (horizontal analysis) in the form of ratios assists an organization in taking appropriate legal pro fessions for better its financial credibility. Vertical Analysis Trend or straight analysis is an aspect of technical analysis that evaluates the current performance of the company using the past data. It is based on the idea that what has happened in the past gives traders an idea of what will happen in the future. ttp//www. investopedia. com/. This analysis is done under four broad ratio categories discussed at a lower address Profitability balances RETURN ON CAPITAL EMPLOYED (ROCE) The primary measure of remunerationability is normally considered to be ROCE. It is the ratio which measures the relationship in the midst of the sizes of the improvement figure relevant to size of the business. (Student Accountant May 2006) ROCE of the company has reached at a level of 36. 84% in 2008, which is a growth of 4% from 2007 32. 89% that had reduced by 2. 29% compare to 2006 (35. 18%).This append in 2008 was mainly over callable(p) to the source in net profit of 17% in coincid ence to FY 2007. Whereas, in the year 2007, the increase in noncurrent liabilities by 40. 65% (in equivalence to 2006) caused a subside in its ROCE. unpack assemble hoggish PROFIT MARGIN (GP %) The gross profit security deposit ratio tells us the profit a business absorbs on its appeal of gross revenue. GP% of GSK was 28. 77% in the year 2008 which demonstrated a downward trend, since the recorded margin in the year 2007 was 37. 25% and 38. 33% in 2006 respectively. Despite of the up climb in the gross gross revenue revenue by 26% in 2008, GSKs GP% has abated.This was callable to the drastic increase in its apostrophize of sales by 43. 38% over 2007 (which was particularly ascribable to the rise in naked material &038 commodities charges), whereas there was no consequent increase in its sales prices (because of no increase in drug prices sanctioned by the government since 2001). The same reason was observed in the year 2007 which squeezed its GP% by 1. 08% over 2 006, regardless of the increase in its net sales by 5. 6%. attractive feature carcass NET POFIT MARGIN (NP %) A change in the net profit margin is a measure of how well a company has controlled its overheads. Student Accountant- May 2006) NP% of GSK has shown a declining trend by an average of most 1% per year during the tierce years periods. It was 15. 74% in 2007 but decreased to 14. 59% in the year 2008. However, this reduction was not in the same pro percentage as of gross profit, due to the increase in other operating income by 100. 15% (which is 65. 46% of the net profit) and tighter control of company on its expenses during the year. In the year 2007 the NP% decreased by 0. 76% from 16. 50 in 2006, nonetheless indicating no major variation. tie beam name ASSET overturnThe asset utilization ratio (sales/net assets) shows how efficiently the assets are macrocosm used to generate sales. (ACCA P3 BPP Study Text) Asset turnover of GSK was 1. 26 season in 2008, which was an increase of 22% from 2007. This was due to an increase in sales by 26% from 2007 and the extract in fixed assets by 4. 54% (which was because of the nifty investment of 646 million make by the company, the major pile of which was spend on facility utility, rationalization and upgrading its plant) that resulted in the changement of its assets turnover. However, in the year 2007 it declined by 3% from 1. 7 quantify in 2006 to 1. 04 generation, which was due to the increase in total assets by 7. 63%. draw compile RETURN ON EQUITY (ROE) ROE is the amount of net income returned as a percentage of theatrical roleholders equity. It measures an entitys profitability by revealing how much profit a company generates with the money dish outholders mother invested. http//www. investopedia. com/ ROE of GSK was 23. 4% in the year 2008 that was 2. 82% higher than 2007, which was because of the boost of 17. 04% in its net profits figure. In the financial year 2007, it slightly dropped by 1. 32% from 22. 9% in 2006 to 20. 58%. The issued common stock (Bonus Shares) in FY 2007 resulted in its equity enlargement by 7. 7% over 2006, consequently decelerating its ROE. draw reference system Short Term Solvency, Liquidity and Efficiency CURRENT symmetry Current ratio measures a companys ability to pay its short-term obligations. www. investopedia. com The current ratio of GSK was 4. 221 in 2006 further declining to 4. 271 and 4. 111 in 2007 and 2008 respectively. Although there have been a gain ground in current assets by 5. 98% but current liabilities are increase in a corkinger proportion i. e. y 10% during 2008, thus decelerating GSKs current ratio by 4% from 2007. Whereas, the decrease of 15% from 2006 to 2007 in current ratio was due to 3. 3% rise in the companys current liabilities. Although there have been no drastic changes in current assets figure over the deuce-ace year period, however, it comprises close to 34% of bullion and bank balance, signaling to wards ineffective property management. drawframe QUICK proportionality The warm ratio measures the companys ability to meet its short-term obligations with its most liquid assets. It shows better liquidity position than current ratio. ww. investopedia. com The quick ratio of GSK has decreased from 3. 13 in FY 2006 to 2. 98 in FY 2007 to 2. 31 in FY 2008. In the year 2008 GSKs quick ratio has declined in a greater proportion than its current ratio, indicating coin being stuck in stock in trade which can be seen by an increase of 53% in stock in trade figure over 2007. This implies the company has made high investment in less liquid assets which resulted in the increase of its cash operating cycle. thence there is a need to restrain any further increase in its inventory level.In the year 2007, inventory only increase by 7%, indicating no substantial change. drawframe ACCOUNTS due COLLECTION PERIOD (In Days) It is a measure of the average number of geezerhood that a company take s to collect revenue from its customers after a sale has been made. www. investopedia. com Account receivable collection period of GSK had radically increased from 4 years in the year 2007 to 27 days in 2008, which was caused by 770% increase in its accounts receivables (mainly because of high receivable on government tenders) over 2007.Although, this resulted in the augmented sales turnover but it also brocaded doubtful debt provision from 2. 9 million in 2007 to 4. 6 million in 2008. However, no substantive rise was observed in receivable collection period days of 3. 06 days in FY06 from FY07. drawframe ACCOUNTS PAYABLE PAYMENT PERIOD (In Days) It is used to calculate the average number of days that a business takes to pay off its creditors. www. investopedia. com Account collectable days of GSK have decreased by 22 days from 93 days in FY 2007 to 71 days in FY 2008. This sudden decline was due to the increase of 43. 8% in cost of goods sold, which is fairly less in comparabili ty to the 9. 94% rise in trade and other payables. However, in FY 2007 the 7% increase in COGS was in proportion to the 6. 25% raise in trade and other payables, resulting in no hefty change in the year 2007 in comparison to 94 days of its preceding year 2006. drawframe Long Term Solvency and stability Ratios GEARING (Long Term Debt / Equity) Gearing is a general term describing a financial ratio which compares some form of owners equity (or capital) to sweep uped funds.It is a measure of financial leverage, demonstrating the degree to which a firms activities are funded by owners funds versus creditors funds. fiscal gearing ratio of GSK is not significantly important as it has remained below 1% in the 3 year period from 2006 to 2008. Gearing ratio for FY 2008 and FY 2007 is 0. 25% and 0. 29%, which are relatively better in comparison to 0. 88% for the financial year 2006. This indicates that the company is highly dependent on its internal cash fall generation system and holds a stable financial position.Therefore, it presently and subsequently would have no problem to borrow funds but at present, it does not seem to rely on the strategy of generating finance through debt. drawframe INTEREST pout It is a ratio that indicates how many times a company can transit its interest charges on a pretax basis. Failing to meet these obligations could outcome a company into bankruptcy. www. investopedia. com use up cover of GSK had declined by 191 times being at 40. 05 times in FY 2008 in comparison to 231. 18 times in FY 2007 which was an increase of 93. 92 times in comparison to 137. 5 times in FY 2006. One of the major reasons for this drastic decline in the interest cover in 2008 is because of the rise in financial charges of GSK, which blush because of the conflicting exchange losses occurred during the year by the company. This depicts an inefficient FOREX encounter management for importing of raw material and exports of its products. While in the year 2 007 exchange losses are apparently low compared to the other deuce years. drawframe Market Ratio EARNING PER SHARE (EPS) EPS is the portion of a companys profit allocated to each outstanding grapple of common stock.Earnings per share serve as an indicator of a companys profitability. www. investopedia. com EPS of GSK had increased from 9. 79 per share in 2007 to 11. 46 per share in FY 2008, but it was lower as compared to 12. 19 per share of 2006. The increase in the current year (FY 2008) is due to vigorous 17. 04% increase in net profit in comparison to the profit of FY 2007 however no further shares issue was made during the year. Whereas, the decline in FY 2007 was due to the issue of common shares (bonus shares) which expanded the companys common stock by 25% but net profit remained almost same as of FY 2006. drawframe PRICE EARNING RATIO (P/E) A valuation ratio of a companys current share price compared to its per-share requital. It is calculated as Market Value/ share divid ed by Earning per share. www. investopedia. com P/E ratio of GSK has decreased by 13. 03 to 6. 63 in the FY 2008 compare to the FY 2007, but in 2007 it increased by 19. 66 compared to the 12. 81 of FY 2006. The decrease observed in the year 2008 was because of the undervalued share price and improvement in the EPS during the year. The market price of the share in Dec 2008 was Rs. 75. 9 (Dec07 Rs. 192. 4) and the earning per share was Rs. 1. 46 (Dec07 Rs. 9. 79). The low P/E ratio will result in the high expectations of investors for the potential rise in share prices. The stock prices were generally low due to economic recession in the country and fragile moves of the investors at the stock exchange. The increase in P/E ratio during 2007 was due to decrease in EPS by 20% over 2006. drawframe DIVIDEND PAYOUT RATIO (DPO) Dividend payout ratio is the percentage of earnings paid to shareholders as dividends. www. investopedia. com Dividend payout ratio of the company is depicting a dev eloping trend. Its DPO in the FY 2008 reached to 82. % from 76. 6% in FY 2007, i. e. approximately an increase of 6%. This was due to a raise in net profit by 17%, consequently meeting its investors expectation. Whilst the payout ratio of GSK indicates that it was able cover 65. 6% of the total profit in FY 2006. However GSK retained 23. 4% and 32. 4% of its net profits in the year 2007 and 2006 respectively, since heavy capital ingestion was incurred within these two years, which was financed by its retained earnings. drawframe Horizontal Analysis Knowing your customer is critical, but knowing your competition can be even more valuable.Better knowledge of rivals proffers a legitimate source of competitive advantage, horizontal analysis commonly known as competitor analysis is used for that purpose. This analysis tends to evaluate the entitys standing in comparison to the other companies within the industry. It is not vital that the companies within the same industry are direct co mpetitors (which can be seen in the case of GSK &038 Sanofi Aventis hereinafter referred to as SA) even then they would be pass judgment to broadly demonstrate similar performance, in terms of growth. (ACCAP3).The Horizontal analysis of GSK is done within the same categories of trend analysis. Profitability Ratios Profitability ratios of GSK are better than that of SA. The huge difference in the profit margin of these two corporations is due to the difference in their size. Gross profit margin of the GSK is 28. 77%, which is 4. 48% better than that of SA. GSKs vast product range allows it to barter for and produce in bulk, hence reducing its overall cost. On the other hand, SA manufactures low volumes of products which increase its ordering cost and consequently raise its cost of production. Net profit margin of GSK is 14. 9% while that of SA is 0. 88% in the FY 2008. This difference of 13. 71% indicates that excessive non production cost of SA is squeezing its net profit. As a co nsequence low ROCE of SA of 15. 36% is witnessed in comparison to GSKs 36. 84%. SAs asset turnover of 1. 46 times indicates that it has utilized its assets 0. 2 times more efficiently than GSK to generate sales revenue. Short Term Solvency, Liquidity and Efficiency The current ratio of GSK for FY 2008 is 4. 11 and of SA is 0. 98. Since SAs current ratio is less than 1, it is can lead to the obstruction in fulfilling its short term obligations.SAs liquidity problems can be witnessed from its short term borrowings covering 48% of the total Current Liabilities. Conversely, Current ratio of GSK is high showing signs of over capitalization. Additionally, cash and bank balances of GSK are 34 % of its total current assets which indicates weak working capital management. immobile Ratio of SA and GSK is 0. 2 and 2. 25 respectively. This enormous difference from the current ratios of these companies highlights the chance of investment in assets which are less liquid.The inventory (stock i n trade) of the SA is almost 62% of its total current assets while GSK holds around 44% of its current assets. SA has kept a stringent control over its working capital while GSKs policy seems much more relaxed with its creditors and Debtors. These relaxed terms could be one of the reasons which helped GSK in increasing its Sales revenue by 26% in FY 2008 from FY 2007. SA, in contrast, has less receivable collection days and increased payable payment days. Hence SA is better at controlling its cash conversion. Long Term Solvency and stability RatiosBoth the companies hold stable positions in the context of long term solvency. Gearing ratios are not significant as these are less than 1% in some(prenominal) the companies. lodge in cover of 40. 05 times shows a vowelise financial position. Finance cost occurred by GSK mainly consist of the foreign exchange losses borne by the company in importing the raw material. While SA has interest cover of 0. 51 times due to the high finance cos t on short term borrowing. Market Ratios The huge difference in EPS of GSK and SA is due to their different profitability position.Moreover GSK has a high payout ratio of approximately 83% as compared to 35. 28% of SA. NAV of SA is 2. 5 times higher than GSK particularly due to the high number of equity shares (common stock) issued, which is also reflected in its share price. SA currently has a share price of Rs. 211 and GSKs shares are of Rs. 75. 94/share respectively. SAs P/E ratio of 53. 18 indicates low earnings and high market price of its shares. This is a source of affect indicating that its shares are overvalued. Conversely, GSKs P/E ratio of 6. 63, highlights that its shares are currently undervalued. Business AnalysisThe business performance analysis of GSK will be carried out using SWOT analysis and by general reciprocation of its business practices. SWOT SWOT analysis is fundamentally about discovering what a company does well, how it could improve, whether it is makin g the most out of the available opportunities and whether there are any changes in the market that call for corresponding changes in the business. http//www. bnet. com/2410-13240_23-66478. hypertext mark-up language Strengths The largest pharmaceutical company in Pakistan. The first company in Pakistans pharmaceutical industry that crossed Rs 10 billion sales mark.Produces 269 varieties of products, out of which Augmentin, Amoxil, Panadol, Ventolin and Ampiclox are among the top 10 pharmaceutical Rx products of Pakistan. The sales revenue of Augmentin and Amoxil reached to PKR2bn and PKR1bn in 2008. Betnovate is its leading brand by volume. separate leadership in antibiotics, respiratory products, anti-malaria, gastrointestinal (GI), derma and hepatitis products, vaccines and anti helmentic medicaments. Stood at 1st position in flyer competition of International clinical Operations, Community of Practice shocks.Awarded with in corporeal philanthropic award certificate in 2008 b y Pakistan Centre for Philanthropy. Contributes to well-disposed welfare by running divers(a) charitable programs with leading NGOs in Pakistan such as Pakistan National Forum, National Children Human Development on womens health, annoyance for Children trust and the trust for health and medical sciences. Awarded as Best put up to work-2008 by a leading HR enquireancy in association with Pakistan fellowship for Human Resource Management. Committed to innovation by developing medicines through its global R effort.Weaknesses collectible to high cost of importing raw material for medicines, GSK faces strong competition from low-cost generic equivalents. Ineffective foreign exchange notes contracts resulted in the increase of exchange losses (financial charges) for the current year. Strict labor police forces and a corporate income tax rate, makes it difficult for GSK to operate. Weak cash management. Opportunities Potential for growth in the domestic market. Sector modernisati on initiatives will create expansion opportunities. Cut of import duties were made by the government on Pharmaceutical products.This will increase the import of products and trigger foreign involvement in respect of the investment, raw material barter for and technology transfer. Prospective increase in exports of medicines is possible as currently, Pakistan is ranked among the top eight leading exporters of herbal medicine. Threats Significant counterfeit drug industry. Domestic patent law is below international standards. Illegal copying, counterfeiting and law enforcement is continuing to present significant problems for the international pharmaceutical companies operating in Pakistan.Rising numbers of generics is a major barrier to multinational investment. change magnitude inflationary trends without consequent increases in the prices of drugs. Exposed to foreign exchange currency risk as the company is highly dependent on import of raw materials. Slow registration process f or approving new formulae for medicine thus hampering its access. More about GSK The Vision The hazard to make a difference to the lives of billions of people GSK states that they are aware of the work they do to improve the character of peoples lives. It takes pride in this and is committed to produce products that benefit patients.It is committed towards improving and implementing the healthcare programs in Pakistan, particularly the area of preventive healthcare and vaccines remains essential and explicit. GSK is the worlds leading developer and manufacturer of vaccines. In order to evaluate the alignment of companys activities with its vision, I have conducted the business analysis under the following heads Market Eminence GSK has al routes remained a strong wing of the pharmaceutical industry of Pakistan. It has managed to maintain a unchanging growth in demand of different vaccines, antibiotics, dermatology, gastro intestinal &038 cardio vascular portfolios.GSK has a wide distribution network, it sell its products to wholesale drug distributors, hospitals, government entities and other institutions, hence covering almost the whole pharmaceutical market. It produces 7 out of 20 top brands in the pharmaceutical industry of the country. It was as awarded The most preferred pharmaceutical company of the year. It is the market leader of pharmaceutical industry of Pakistan. Quality Management Quality in the Pharmaceutical industry is of significant importance. Due to the sensitive nature of industry, grim quality parameters are set by the regulatory bodies for pharmaceutical companies.GSK is one of the few companies which not only follow the quality standard set locally but also practice international quality standards. It was pay with the prestigious Corporate Excellence Award by Management stand close up of Pakistan (MAP). This was presented after independent valuation of quality of management practices followed by GSK including corporate governance practices, marketing planning, production, R, corporate social responsibility and remarkable financial performance. GSK has always set high quality standards in the industry.It has recently introduced quality management system and is conducting workshops for its successful implementation. It has also installed one of the fastest electron tube filling and cartooning machines for its production efficiency and is continually advancing towards improvement in products quality and productivity. Research &038 Developments GlaxoSmithKline, Pakistan (GSKP) Limited is the largest research-based pharmaceutical company in the country and the second largest in the world. It has recently conducted 19 Phase-II and leash studies in therapeutic areas of Oncology, Neurosciences, Psychiatry, Metabolic and Hematology.It got 1st Position in poster competition in International Clinical Operations, Community of Practice Meeting held in Bangkok. Its R departments 10 team members were presented with aur eate Awards and Certificate of Recognition by CMD. It spends globally around US $ 14 million on research and ontogeny each day. The Company has systematically launched new products. Sensodyne Total Care and Sensodyne Gentle Mouthwash launched with unique conceptualization are its recent addition. boilersuit, it has supported the Pharma industry of by introducing low cost and quality pharmaceutical products. Employees DevelopmentGSK is well known for being one of the most preferred employers. It has been awarded as Best place to work in 2008 by a leading HR consultancy in association with Pakistan Society for Human Resource Management. International Day of deterrent was celebrated at GSK, showing its strong believes in equal opportunity employment. Its HR team recently launched a new initiative title Mentoring, which provides guidance and assistance for developing talent. It also conducted a learning fair in 4 major cities of Pakistan, which offers a diverse range of courses fo r employees development and learning exposure.In order to promote and give a chance to new talent, its HR team visited 14 Universities during its recruitment process. Corporate affectionate Responsibility (CSR) GSK believes that corporate social responsibility is an integral and embedded part of its business. It is sincerely involved in the community work and in discordant charitable projects in Pakistan and around the world. It works under the context of various health, women and child development, training, and relief programmers at grass root level.In 2008 GSK has been rewarded with a corporate philanthropy award in fruition of its support for the social development causes in Pakistan. It is the major corporate donor for numerous NGOs and also a member of the National Commission for Human Development (NCHD). As a movement to its corporate social responsibility GSK Pakistan has introduced 1st of its kind, value health card. The card will be issued solely on the prescription of doctors, for those who cannot afford pharmaceutical products at their standard retail prices. Environment, Health and safeguard (EHS)Environment, health and safety are major concerns for GSK. It continually works towards improving peoples health and safety and for developing environment social products. It has received Environment Excellence Award (AEEA 2008) and EHS Excellence Awards in recognition to its good environmental practices. It has installed low-cost engineering solution (glove box), which reduced OEL level by 40%. Business Continuity Plan desktop model was also conducted at all of its sites. CONCLUSION GSK leads the industry in terms of value, volume and market shares.It has managed to improve the quality of human life on with showing consistency and stability in its overall business growth. This reports objective, to assess the financial and business position of GSK, was achieved in four key areas. This report aims to analyze the financial and business position of GSK over the three year period from 2006 to 2008. In the context of aforementioned objectives this report concludes Business GSKs overall business performance is in line with its mission and is contributing towards its strategic objective.Due to its presence in the country since 1955, it has managed to build strong business foundation and is able to maintain consistent growth in the market. It has excelled in the field of Research and Development by introducing new products covering various generics, ensuring employees satisfaction by providing better environment to work, expanding its operation through empowerment of diverse product portfolio, contributing towards corporate social responsibility by capturing tasks to work for the social health and safety, education and environment friendliness and most importantly being profitable, depicts its strong businesses practices. financial Trend GSK Pakistan has managed to give better financial results in the current year 2008 as compared to the FY 2007, which identifies its financial stability and further growth prospects. Even though the returns (ROCE &038 ROE) in the current year have improved but its profit margins (GP% &038 NP %) have depicted a declining trend, which was a result of raise in its revenue expenditure (COGS, Admin, S and monetary expenses).However it can be witnessed that the company has remained focused on continuous improvement in its business processes and sustained its investment in its product &038 promotion to commencement ceremony the negative impact on margins through productivity improvement and sales growth. Although the company was not able to perform well in the year 2007 in comparison to its preceding year 2006, but it was able still able to deliver a stable financial performance having no major threats. This decrease in its financial position during the year was mainly due to the increase in inflation and depreciation in rupee that affected its operating margin negatively.Moreover the capital expenditure made during the year caused a decline in its profitability ratios, but its benefit will be obtained in the later years. The company has always provided laboured investment returns which can be seen by consistent growth in its payout ratio. In the year 2007, GSK announce bonus issue of 14 when it declared lower dividends, thus retaining its investors confidence and being a reliable company for all of its stakeholders. Competitors ComparisonDue to its larger asset base, vast product portfolio, global presence and happy research &038 development function GSK has a natural edge over its competitor Sanofi Aventis. Overall GSKs financial performance is better than its competitor in the FY 2008. Almost all of the ratios calculated under the four broad heads, shows that GSK is giving better returns and incurring less cost. Profitability ratios of the GSK show a better picture than that of Sanofi Aventis, with the exception of Asset efficiency which shows a better u tilization of assets by Sanofi to generate revenues.Liquidity position of both the companies is stable apart from the huge investments that were stuck in the stock in trade. Higher EPS and low P/E ratio of GSK shows that there is a potential for rise in its share price of the Company, in comparison to the overvalued shares of SA resulted in high P/E ratio. Future Prospects The company can be seen as being committed to respond to the challenges of the operating environment and continues to seek opportunities to apparent movement growth in its existing portfolio. It has a good pipeline of disposed new medicines together with the sustained availability of existing products.However, the pharmaceutical industry, in which GSK exists, has ample of barriers such as high inflationary environment without general price relief, which makes it difficult to manage its business trading operations. The company has a great potential for growth, but its sustained success depends on the industrys regulatory environment, that should be able to balance the interest of the company with the need of affordable healthcare. APPENDIcES vermiform process 1 BALANCE SHEETS (GSK) drawframe attachment 2 PROFIT &038 bolshy STATEMENTS (GSK) drawframe APPENDIX 3 BALANCE SHEETS (SA) drawframe APPENDIX 4 PROFIT &038 LOSS STATEMENTS (SA) drawframe APPENDIX 4 RATIOS FORMULAE drawframe APPENDIX 5 RATIOS CALCULATIONS drawframe Key scientific discipline Statement Skill and Learning Statement is the testimonial which includes the compilation of key factors learned during the course this project. This part of report includes following What did you learn from the meetings with your project teach, including the show that you gave to your project mentor? How well do you think that you have firmnessed your research question(s)?How have you demonstrated your interpersonal and converse skills during the project work? How has undertaking the intercept helped you in your accountancy studies and/or current employment role? Choosing a Mentor In accordance with the guidelines, I was required to hold three meetings with my mentor. Working as a trainee in one of the big four audit firms, made the task of locating a mentor sort of easy. Mr. Qayam Karim Maknojia (ACA from Institute of Chartered Accountant of Pakistan), Manager in Financial Advisory Services at Deloitte Touche Tomastu, agreed to occupy the role of my mentor.I choose Mr. Qayam as my mentor because of his vast knowledge and experience in the field of advisory and audit. Meetings Planning all the meetings before hand ensured their smooth running, and enable maximum to be achieved in the shortest time. Meeting 1 Due to time constraint and workload, first meeting took place at 7 pm, Wednesday sixteenth September, 2009 at our guests office. In order to get most out of the 1st meeting, I had performed all the background work and shortlisted two topics, topic 8 and Topic 20 for the purpose of this report.I also selected the potential organizations that I was willing to use for each respective topic, but before making the terminal decision I decided to consult Mr. Qayam. aft(prenominal) discussing number of issues like learning potential and merits of each topic I decided to underpin my research report on Topic 8, business and financial analysis of an organization over a three year period. We also discussed the potential sources of information which I could use for the purpose of this report. Due to workload, Mr.Qayam told me that we will hold the next meeting after finalizing the client and asked me to mail him the agenda and progress of the report one week before the meeting. Meeting 2 Second meeting took place at the 630 pm, after office hours, at Deloitte Karachi Office on thorium 29th October, 2009. As requested by Mr. Qayam, I e-mailed him the agenda, my uncompleted report and excel generated worksheet one week before the meeting. By then my report consisted of interpretation ratios of the Comp any and business valuation aspects with initial data in bullet points that I was going to use.Mr. Qayam assessed the work that I had performed and pointed out weaknesses and wishing of reasoning in my interpretation. He also suggested that I should incorporate a competitor analysis so that a complete financial overview is cover in the report. Furthermore, he also pointed the fact that, it was not feasible to use business model as the data required for them are to a great extent to come by. Instead, he recommended me to take some specific aspect of the companys operations and evaluate their alignment with its vision and strategic objectives.We think the meeting and my mentor told me to take as much time as I want, because the deadline for the submission of the report is too far. He asked me to mail him final gulp report once I have completed it. Meeting 3 The last meeting was held in the conference room of Deloitte Pakistans Karachi office on Wednesday, 25th November, 2009. I ha d mailed the final draft report to my mentor around 15 days before the meeting. by and by receiving his acknowledgment, I civilized intro on Microsoft PowerPoint 2007 slides to give it a more professional look. I consulted my seniors, as how to make and delivery good quality entry.Keeping the guidance provided by my seniors in mind, I prepared and rehearsed my presentation several times. I was a bit shaky at the starting signal of the meeting, but my confidence level grew as I proceeded. After the presentation question answer session took place, which was most exciting as my colleagues and mentor tried to challenge my research by asking numerous questions. I was glad that I had prepared myself for this, although I was not able to answer 100% of the questions asked, my mentor and colleagues were satisfied with the work I had performed and effort I gave in preparing this report.Assessment of the Presentation The presentation took place in presence of my mentor and my office coll eagues. It took me nearly two days to structure and prepare the presentation. After that, I rehearsed the number of times alone to build confidence. The day before the meeting, I gave this presentation in front of my friends, who are MBA professionals so that they can point out any weakness in my communication. At the start of the meeting I distributed, handouts consisting of ratios, competitor analysis and summary of the business performance of the Company.The meeting progressed smoothly throughout the presentation. As I have already informed the listeners that a question answer session will take place after the presentation is over, no interruption occurred in between. In the introduction phase, it was quite clear that most of my colleagues didnt bear any prior knowledge of GSK Pakistan Limited, so they took a keen interest in the topic. During the Q &038 A session numbers of questions were asked by my colleagues challenging my research. nearly of the questions related to the fi nancial aspects of the Company, like why I chose that particular competitor.Most exciting questions were asked by my mentor, which focused on the business performance and which draw out my horizon of analyzing the business. Overall the presentation was effective. I was able to deliver the presentation in the allocated time, although question answer session went longer than I had hoped. After the presentation my overall efforts were appreciated by my colleagues and mentor. Presentation Outline drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe drawframe speculative Questioning is a vital element of effective communication based on any medium. It enhances understanding, searches for clarification and opinions. There are two basic types of questions Open questions such as what? Who? Where? The receptions they require are in broad terms. Open questions can further be classified in to probing questions and leading questions. Closed question defines a parameter which limits the response of the questioned individual to choices like Yes or No.During the three meeting Questioning formed a significant part of the communication. Through this me and my mentor develop ideas and structured my thoughts which helped me in completing my report. During the question answer session both stretch out and close ended question were asked by the audition, which tested my knowledge rigorously and helped me identifying weakness in the communication process. However, Questioning was two way process. Numerous open ended questions were asked by me, in order to gain better understanding of the work I had to perform and whether I was on the right track or not.Listening As communication are a two way process between sender and a manslayer. Listening is the act of decoding the information being received and it forms a fundamental part of a communication process. Listeni ng is as important a characteristic as questioning. Every communication process is open to noise and distortion and the meaning of the message being delivered is altered or lost if they are present. The first meeting held was open to frequent strong-arm noises and distractions. One of my weaknesses that came into light during the 1st meeting was that, I found out to be an impatient listener.I interrupted Mr. Qayam at numerous times when I did not agree with his opinions. Learning from the 1st meeting other meetings were arranged and timed to avoid interruption. I started to become more patient and listened to my mentor with full concentration and noted down questions which I asked after he has concluded. During my 3rd meeting I noticed that some of the audience members were not listening effectively as they asked question which have already be answered during the course of my presentation. Self Evaluation drawgOverall communication process consists of a sender, transmitting a messag e to the receiver through a communication medium. The process of communication is incomplete and/or ineffective until it is confirmed via feedback, that the receiver understood the intended message. The communication between me and my mentor could be seen by the above communication model. During the course of my project, the overall interaction with my mentor was quite effective. We were able to decode each others message easily and were able to communicate our thoughts properly.Perhaps, one of the reasons for effective communication was the informal relation with him, which allowed me to ask questions without being reluctant. I have used number of channels to communicate with my mentor, E-mail being the most effective medium after face to face conversation. The interaction with my colleagues during the presentation was not effective. Reason for which could be that I was not able to generate their interest. Due to this I had to repeat things over and over again. I was also asked que stions, answers for which were already given in the presentation further implying that communication flow was hampered.Being an ACCA Affiliate and recruited recently, as a trainee consultant in Deloitte Pakistan, indispensableness for sound evaluation and interpretational skills are essential. During the course of this project, it had not only fortify my academic knowledge I acquired before and furnished my interpretational and data mining skills, but also helped me into developing presentational skills which I lacked. Significant portion of the analysis of GSK was performed using ratio/trend analysis over a three year period ended 2008.In order for the judicial decision to be systematic and logical these ratios were broken into 4 broad categories so that proper attention would be given to each section and no major area was overlooked. To give a more meaning evaluation of the Companys financial performance, I also incorporated, as command by my mentor, a horizontal or competitor analysis of GSK with Sanofi Aventis. acting business analysis of GSK was a difficult task, as this analysis required qualitative data in addition to the quantitative data about the Company.After carefully evaluating how to assess the business performance of a company I came to the conclusion that it was not feasible to use business evaluation models for the analyses of GSK as significant internal data was required. I discussed different operations for the company, evaluated whether they aligned with its vision and strategic objectives. Furthermore, I also used a corporate appraisal technique called SWOT analysis. In order to make my findings easy to understand for my mentor, I decided to use as minimal figures as I could and instead relied upon using graphs and interpreting data as a percentage.Microsoft Office was extensively used for this and by the end of this research project I was able to navigate around and use advance level options of its applications with ease. According to me, this research and analysis report contains a sound financial and business analysis of GSK Pakistan and fulfills the requirement to Topic of 8 of BSc. guidelines with ease. References Printed sensible ACCA Study Text (2008/09) Paper F9 Financial Management. Kaplan Publishing Foulks Lynch ACCA Study Text (2008/09) Paper F7 (INT) Financial Reporting.Kaplan Publishing Foulks Lynch ACCA Study Text (2008/09) Paper P2 (INT) Corporate Reporting. BPP Learning Media Ltd ACCA Study Text (2008/09) Paper P3 Business Analysis. BPP Learning Media Ltd Annual Report (2006), Glaxo SmithKline. Annual Report (2007), Glaxo SmithKline. Annual Report (2008), Glaxo SmithKline. Electronic and Other Material Types BNET. SWOT Analysis http//www. bnet. com/2410-13240_23-66478. html (Visited 05th November 2009) Financial Analysis http//www. enotes. com/small-business-encyclopedia/financial-analysis (Visited 05th November 2009)Introduction http//www. roi-ally. com/BPE_vol1. htm (Visited 05th November 200 9) Industry http//www. ppma. org. pk/ (Visited 05th November 2009) Investopedia. Vertical Analysis http//www. investopedia. com/terms/v/vertical_analysis. asp (Visited 05th November 2009) Investopedia. Return on Equity http//www. investopedia. com/terms/r/returnonequity. asp (Visited 05th November 2009) Investopedia. Current Ratio http//www. investopedia. com/terms/c/currentratio. asp (Visited 05th November 2009) Investopedia.Quick Ratio http//www. investopedia. com/terms/q/quickratio. asp (Visited 05th November 2009) Investopedia. Accounts Recievable Collection Period http//www. investopedia. com/terms/a/average_collection_period. asp (Visited 05th November 2009) Investopedia. Accounts Payable Payment Period http//www. investopedia. com/terms/a/accountspayableturnoverratio. asp (Visited 05th November 2009) Investopedia. Interest Cover http//www. investopedia. com/terms/i/interestcoverageratio. asp (Visited 05th November 2009) Investopedia.Earning Per Share http//www. investopedia. com/terms/e/eps. asp (Visited 05th November 2009) Investopedia. Dividend Payout Ratio http//www. investopedia. com/terms/d/dividendpayoutratio. asp (Visited 05th November 2009) William Pollard. Quote (Visited 07th November) http//thinkexist. com/ honorable mention/information_is_a_source_of_learning-but_unless_it/226524. html BIBLIOGRAPHY Electronic and Other Material Types Competitor Websites Novartis Pharma http//www. novartis. com (Visited 05th November 2009) Sanofi-Aventis http//www. anofi-aventis. com. pk (Visited 05th November 2009) Regulators/ Governments Websites Karachi bloodline Exchange http//www. kse. com. pk (Visited 15th November 2009) Pakistan Pharmaceutical Manufacturers Association http//www. ppma. org. pk (Visited 12th November 2009) Newspaper Websites Business Recorders website http//www. brecorder. com (Visited many times) Dawns website http//www. dawn. com (Visited many times) The Financial Daily website http//www. thefinancialdaily. com (Visited many times)